Business News
Cisco to acquire software firm ThousandEyes
Cisco Systems Inc has agreed to acquire privately held software maker ThousandEyes Inc, the network gear maker said on Thursday.
Year: 2020
Business News
Costco beats revenue estimates as consumer stockpile essentials
Warehouse club operator Costco Wholesale Corp beat quarterly revenue estimates on Thursday, as people stocked up on essentials before hunkering down in their homes to contain the spread of the coronavirus.
Business News
Dell beats revenue estimates as remote working lifts workstation demand
Dell Technologies Inc beat analysts’ estimates for quarterly revenue on Thursday, boosted by demand for its workstations from companies moving more employees to work from home due to the coronavirus outbreak.
Trading Ideas
Which Companies Are Benefiting From No Summer Vacations?
There’s a funny image going around the internet…
It’s a billboard for the movie I Know What You Did Last Summer. And underneath the movie poster, someone added text that says “ABSOLUTELY NOTHING.”
Now that summer has (at least unofficially) begun, this image is painfully real.
Many camps have canceled their sessions. Parents – who have already endured three months of at-home cyberlearning – are looking at another three months of perpetual complaints of boredom until their kids can go back to school… if schools reopen in the fall.
And sadly, countless vacations have been laid to rest. So right now, many of …read more […]
Trading Ideas
Nordstrom Q1 sales down 40%
Nordstrom Inc released its first quarter earnings report after hours on Thursday, seeing a sharp drop on both top and bottom lines. The company didn’t offer any guidance for its next quarter but did emphasize that it had enough liquidity to get through the year. Yahoo Finance’s Myles Udland breaks down the retail companies earnings report. …read more […]
Business News
Nordstrom sales plunge nearly 40% on pandemic hit
Upscale department store chain Nordstrom Inc on Thursday reported a nearly 40% slump in quarterly sales, as lockdowns to contain the COVID-19 pandemic forced it to shut stores.
Trading Ideas
U.S. Stocks End Rally With China Tensions Rising: Markets Wrap
(Bloomberg) — U.S. stocks erased gains and ended lower after President Donald Trump said he’d hold a press conference Friday to discuss China, potentially stoking tensions between the world’s two largest economies.The S&P 500 lost an advance of more than 1% on Trump’s announcement, with investors speculating the U.S. will take action against China that could destabilize the global economy, although the precise agenda was unclear. Traders have warily been watching an escalation between Washington and Beijing even as stocks surged for the past two days. Chinese lawmakers earlier approved a proposal for new national-security legislation in Hong Kong, a …read more […]
Business News
Trump directs AG to boost enforcement of state laws on social media companies
U.S. President Donald Trump said on Thursday that he is directing Attorney General William Barr to work with states to enforce their own laws against what he described as deceptive business practices by social media companies.
Business News
Wall Street ends down in late selloff; Facebook weighs
Wall Street ended lower on Thursday following a late-session reversal, with Facebook weighing on the market after President Donald Trump said he would sign an executive order related to social media companies and said he would hold a news conference on China on Friday.
Business News
Renault poised to announce 15,000 layoffs worldwide: union
French carmaker Renault is poised to announce 15,000 layoffs worldwide on Friday as it unveils a plan to boost its profitability and cope with faltering sales, a representative for the CFDT union said after meeting with the company.
Business News
S&P cuts Rolls-Royce credit rating to junk on COVID-19 hit
Ratings agency Standard & Poor’s cut engine maker Rolls-Royce’s credit rating to junk on Thursday, citing the disruption caused to global air travel from the COVID-19 pandemic.
Business News
Oil rises as higher U.S. refinery rates offsets surprise crude build
Oil futures rose about 2% on Thursday as a steady improvement in U.S. refining activity offset a surprise build in crude and diesel inventories and on worries that China’s new Hong Kong security law could result in trade sanctions.
Business News
Masks, cleaning, filtration better than blocking middle seats: United CEO
United Airlines Holdings Inc Chief Executive Scott Kirby said on Thursday that facial masks, aircraft cleaning and air filtration systems are better measures for preventing the spread of the coronavirus on airplanes than trying to social distance.
Business News
Stocks, euro rise on recovery hopes; U.S.-China rift lifts gold
Global equity markets climbed on Thursday on optimism for a speedy economic recovery and a massive stimulus plan in Europe helped lift regional stocks and the euro, while gold rebounded on a safety bid on deteriorating U.S.-China relations.
Business News
Fed’s Kaplan says U.S. economy has bottomed, ties rebound to testing
The U.S. economy has likely bottomed, Dallas Federal Reserve Bank President Robert Kaplan said on Thursday, but a healthy rebound depends on a massive increase in testing so that people feel comfortable resuming traveling, dining out and other pre-crisis activities.