Business & Finance News
Samsung Electronics Co Ltd said its operating profit rose 3% in the January to March period, in line with its earlier estimate, as the stay-at-home trend due to the COVID-19 pandemic cushioned the virus blow.
Ford Motor Co said on Tuesday its second-quarter loss would more than double to over $5 billion from $2 billion in the first quarter due to the impact of the coronavirus pandemic, but added it had enough money despite the crisis to last the rest of 2020.
Starbucks Corp said on Tuesday it sees sales in China, the company’s biggest growth market, recovering by the end of September, following a massive drop in same-store sales in the current quarter on fallout from the coronavirus pandemic, which forced Starbucks to close stores around the globe.
Ford Motor Co said on Tuesday its second-quarter loss will more than double to $5 billion from $2 billion in the first quarter due to the impact of the coronavirus pandemic, but said despite the ongoing crisis it has enough money to last for the remainder of 2020.
Starbucks Corp said on Tuesday it expects comparable sales in China to decline between 25% and 35% in the current third quarter, hurt by the coronavirus pandemic that has forced it to close stores and limit operations.
Alphabet Inc on Tuesday beat analysts’ estimate for quarterly revenue as its Google unit posted double-digit advertising growth despite the economic slowdown from the novel coronavirus.
U.S. crude prices settled about 3% lower on Tuesday after data showing domestic stockpiles didn’t rise as high as had been expected given tightening storage, despite pledges to cut production from May 1.
As low crude oil prices leave U.S. producers struggling to eke out profits, investors will focus on production hedges and cost-cuts to determine winners from losers as first quarter earnings roll out in coming days.
Uber Technologies Inc’s Chief Technology Officer Thuan Pham has resigned, effective May 16, the ride-hailing company said in a regulatory filing https://bit.ly/2SiLDZB on Tuesday.
Ford Motor Co on Tuesday posted a $2 billion first-quarter loss due to the impact of the coronavirus pandemic and said it expected its loss in the second quarter to more than double as it weathers a shutdown of its North American plants.
Wall Street’s major indexes lost ground on Tuesday as investors moved out of market-leading growth stocks, though a rotation into cyclical value stocks indicated hopes of economic revival as states began to relax restrictions enacted to fight the deadly COVID-19 pandemic.
Alphabet Inc on Tuesday beat analysts’ estimate for quarterly revenue as its Google unit experienced a smaller drop-off in advertiser spending than had been anticipated given economic concerns related to the novel coronavirus.
Starbucks Corp said on Tuesday it expects comparable sales in China in the current quarter to decline between 25% and 35%, hurt by the coronavirus pandemic that has forced it to close stores and limit operations.
As Detroit’s automakers seek to restart their U.S. plants during the coronavirus pandemic, two health experts advising Michigan’s governor and the United Auto Workers union warned against an over-reliance on masks and face shields to keep workers safe.
Ford Motor Co on Tuesday posted a $2 billion first-quarter loss due to the impact of the coronavirus pandemic and said it expected its loss in the second quarter to more than double as it weathers a shutdown of its North American plants.
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