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Wall Street set to drop on fear of new infection wave
Wall Street’s main indexes were set to fall at the open on Monday after last week’s rally, as investors worried about a second wave of coronavirus infections with the reopening of several economies.
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Top Analyst Sees the Value of These 3 Airline Stocks Differently Than Warren Buffett
On May 2nd at Berkshire Hathaway’s annual shareholder meeting (also known as Woodstock for Capitalists), in rather dramatic fashion, Warren Buffett announced publicly that Berkshire had unloaded its entire positions of airline stocks. It amounted to a roughly $4 billion fire sale of the leading domestic players – United Airlines, American Airlines, Delta Airlines, and Southwest Airlines.As you know, Mr. Buffett isn’t known for making rash or snap decisions on his holdings. It’s been widely known that his favorite holding period is forever. In Buffett’s mind, this about-face boiled down to a belief that the world had quickly changed for …read more […]
Business News
Oil prices rise on Saudi voluntary cuts
Oil prices rose on Monday after leading exporter Saudi Arabia said it will reduce output by 1 million barrels per day (bpd) on top of reductions agreed under an OPEC+ pact, though gains were capped by fears of a second wave of coronavirus infections.
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Saudis Deepen Oil Output Cuts in Effort to Prop Up Market
(Bloomberg) — Saudi Arabia announced an extra voluntary oil-production cut of 1 million barrels a day, bringing output to its lowest in 18 years as the kingdom tries to prop up a nascent recovery in energy markets.Oil prices, which were down on the day, immediately turned around, with West Texas Intermediate futures jumping as much as 3.4%.Riyadh aims to pump just under 7.5 million barrels a day in June, compared with an official target under the most recent OPEC+ agreement of just under 8.5 million a day. If Saudi Arabia makes good on its pledge, its production will drop to …read more […]
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Business News
Stocks stumble on fears of second wave of coronavirus
Stock markets fell on Monday after reports of a pick-up in new coronavirus cases rattled investors, who worried that it could slow or reverse the loosening of lockdown measures.
Business News
BA owner says burning cash, quarantine plan will make it worse
British Airways owner IAG has exhausted every avenue to shore up its finances and is burning through cash, its CEO said on Monday, as the aviation industry warned of the fresh damage it would suffer if Britain quarantines international arrivals.
Business News
Futures lower on fears of another wave of virus infections
U.S. stock index futures fell on Monday following a strong week of gains for Wall Street, as investors turned cautious about a second wave of coronavirus infections with several countries reopening economies.
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News Flash: Analysts Just Made A Notable Upgrade To Their Ovintiv Inc. (TSE:OVV) Forecasts
Celebrations may be in order for Ovintiv Inc. (TSE:OVV) shareholders, with the analysts delivering a significant… …read more […]
Business News
Marriott quarterly profit misses lowered estimates as bookings plunge
Marriott International Inc fell short of already drastically lowered expectations for quarterly profit on Monday, as bookings plunged due to coronavirus-led travel restrictions.
Business News
Under Armour’s quarterly revenue slumps on lockdowns hit
Athletic apparel maker Under Armour Inc on Monday reported a 23% fall in quarterly revenue, as retailers across the world remained shut due to the COVID-19 pandemic.
Business News
British Airways owner says burning cash, quarantine plan will make it worse
British Airways owner IAG has exhausted every avenue to shore up its finances and is burning through cash, its CEO said on Monday, as the aviation industry warned of the fresh damage it would suffer if Britain quarantines international arrivals.