As you might know, Akebia Therapeutics, Inc. (NASDAQ:AKBA) just kicked off its latest quarterly results with some very… …read more […]
When American companies recently applied for U.S. government loans meant to help small businesses survive the coronavirus crisis, they had to certify they needed the cash to cover basic needs like salaries and rent. Forty-one publicly traded companies that got the emergency aid already had enough to cover basic expenses for two months or more when they applied for the funds, a Reuters analysis found — even if their revenue dropped to zero. Six had enough to last at least until December, according to the review, which was based on average monthly operating expenses from 2019. …read more […]
North American oil companies have slashed production faster than skeptical OPEC officials and industry analysts expected, on course to cut roughly 1.7 million barrels per day by the end of June, according to a Reuters analysis of U.S. state and company data. The group, known as OPEC+, agreed to cut output by 9.7 million barrels per day (bpd) for May and June. During talks last month, some OPEC members raised concerns that nations like the United States and Canada couldn’t muster that magnitude of cuts from private companies without state mandates. …read more […]
Long-term U.S. mortgage rates were mixed this week, continuing to hover near all-time lows. Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark 30-year home loan edged up to 3.26% from 3.23% last week, which was the lowest level since Freddie started tracking rates in 1971. Consumer confidence in housing was pushed in April to its lowest level since November 2011 as the economy and housing market reeled from the shutdown spurred by the coronavirus pandemic, the other large mortgage buyer, Fannie Mae, said Thursday. …read more […]
While Detroit automakers’ unionized auto factories have been idled by the coronavirus pandemic, farm and construction equipment makers Deere and Caterpillar have won the support of the United Auto Workers and other unions to run their facilities during the pandemic. Giving employees sick time without penalty, temperature screenings, staggered shifts and hiring a hygiene-auditing firm are some of the measures the two companies have taken to reassure employees returning to production lines when many union and non-union workers balk at reporting for jobs that could expose them to the novel coronavirus that causes COVID-19. Detroit’s auto companies had …read more […]
Yahoo Finance’s On The Move panel recap the latest earnings from PayPal, Grubhub, Anheuser-Busch Inbev and Lyft. …read more […]
Yahoo Finance’s Jared Blikre breaks down the latest market action. …read more […]
As U.S. oil prices plunged, sand suppliers have shut mines, dismissed workers and slashed operations as customers stop drilling and fracking new shale oil wells. “You can drive by plants and see which ones have already been walked away from,” said Peter Allen, a director at closely held Black Mountain Sand, which operates mines in Texas and Oklahoma. “It will remove a substantial amount of supply and will leave the healthy companies in place,” he said, adding Black Mountain sits on enough cash to weather the downturn. …read more […]
Yahoo Finance’s Brian Sozzi and Alexis Christoforous break down the market action for Moderna, after the company announced it received FDA clearance for its coronavirus vaccine for phase 2 trial. …read more […]
(Bloomberg) — Shares of PayPal Holdings Inc. rallied as much as 13%, reaching a record high in early trading on Thursday, with analysts zeroing in on the payments company’s strong April trends and growth in electronic transactions across the board.Square Inc. rose as much as 8.6% to the highest since early March, as it benefited from some of that, too. But worries about credit and its small-and-medium sized business market factored in as well.Both are outperforming the market so far this year, with PayPal soaring 34% and Square up 19%, even as the S&P 500 has shed 11%, stung by …read more […]
“You would expect at a time like this, you have a bigger bear market, and that is why I’ve been cautious and kept a little powder dry, because there could be relapses in the market,” said Mobius, founder of Mobius Capital Partners, which has $130 million assets under management. “But the way it looks now, we may be in full recovery mode,” Mobius told the Reuters Global Markets Forum on Thursday, May 7, from Munich. …read more […]
Why are utility stocks down as the broader market seems to be regaining momentum? Many investors are looking for answers after the roller-coaster months of March and April.
Major utility stocks nearly bottomed out in March. In fact, some companies fell upwards of 50% in just over a week’s time. And this swing didn’t affect one specific portion of the utility sector. Everyone felt the decline of the novel coronavirus and there aren’t many signs of it slowing down.
Why are Utility Stocks Down Amid Coronavirus Fears?
Utility stocks are typically recognized as part of the defensive sector. When market volatility ramps up …read more […]
What happened to my stimulus money? Many who receive government benefits and others continue to wonder in early May. …read more […]
Social game developer Zynga (ZNGA) has posted first quarter bookings of $425 million, easily beating the consensus estimate of $407 million, and guidance of $400 million.“Q1 represented the best first quarter revenue and bookings performance in the company’s history, benefitting from broad-based live services strength throughout the quarter” comments Wedbush analyst Michael Pachter. He reiterated his Zynga buy rating on May 7 with a $9.25 price target (16% upside potential).In particular, Empires & Puzzles and the company’s Social Slots portfolio both experienced record revenue and bookings quarters, with Empires & Puzzles, Merge Magic!, Game of Thrones Slots Casino, and Merge …read more […]
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