Year: 2020

(Bloomberg) — Kohl’s Corp. shares fell as much 14% after the U.S. retailer posted a quarterly loss and declining sales, a sign of the struggle of many retailers amid pandemic uncertainty.The company’s second-quarter report contrasts sharply with the booming sales figures released Tuesday by Home Depot Inc. and Walmart Inc., two massive retailers that were deemed essential and allowed to operate through the pandemic. Kohl’s and its nonessential peers, meanwhile, have struggled to regain sales as shoppers stay home and flock to e-commerce.Kohl’s posted a loss of 25 cents a share when excluding some items — better than the estimated …read more […]

Brazil’s health regulator Anvisa on Tuesday said it had approved human clinical trials for a potential COVID-19 vaccine developed by Johnson & Johnson’s pharmaceutical subsidiary Janssen. Brazil is the second-worst hit country for coronavirus cases and deaths after the United States, leading many vaccine developers to seek out clinical trials here. Brazil had registered 3.4 million cases of the disease and more than 108,000 related deaths as of Monday. …read more […]

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(Bloomberg) — Brigade Capital Management LP says it can’t return the $175 million that Citigroup Inc. mistakenly paid — part of a $900 million error — because the money went to other funds.“As Citibank is well aware, Citibank wired money to approximately 40 different funds that employ Brigade as their investment/collateral manager, and thus must know that Brigade itself was not a lender and does not have the money for which Citibank is now suing,” Brigade said in a court filing Tuesday.In a lawsuit filed on Monday in New York, Citigroup asked a federal court to order Brigade to return …read more […]

Virtu Financial, Inc. (NASDAQ:VIRT) shareholders (or potential shareholders) will be happy to see that the CEO… …read more […]

Citigroup says the over-payment to hedge fund Brigade was due to an “operational mistake”. …read more […]

(Bloomberg) — Sea Ltd., the Singapore-based internet company backed by Tencent Holdings Ltd., said revenue doubled in the second quarter, driven by strong growth at e-commerce platform Shopee and gaming arm Garena.Its stock gained about 8.6% in pre-market trading in New York after reporting total revenue rose to $882 million in the three months ended June. Its net loss widened to $393 million from $280 million.The robust topline numbers underscore how Sea became the world’s best-performing large-cap stock over the 18 months to August, stoking debate over whether the gaming, e-commerce and payments company is the next internet colossus or …read more […]

Sales were still down significantly, but the retailer bounced back from a big first-quarter loss. …read more […]

Sales tail off at Walmart in the wake of stimulus funds running out. …read more […]

Dwight Egan is the CEO of Co-Diagnostics, Inc. (NASDAQ:CODX), and in this article, we analyze the executive’s… …read more […]

Even when a business is losing money, it’s possible for shareholders to make money if they buy a good business at the… …read more […]

Walmart posted better-than-expected earnings across the board. …read more […]

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(Bloomberg) — Sea Ltd., the Singapore-based internet company backed by Tencent Holdings Ltd., said revenue doubled in the second quarter, driven by strong growth at e-commerce platform Shopee and gaming arm Garena.Total revenue rose to $882 million in the three months ended June from $436.2 million a year earlier, the company said in a statement on Tuesday. Net loss widened to $393 million from $280 million.The robust topline numbers underscore how Sea became the world’s best-performing large-cap stock over the 18 months to August, stoking debate over whether the gaming, e-commerce and payments company is the next internet colossus or …read more […]

Top news and what to watch in the markets on Tuesday, August 18, 2020. …read more […]