May 4, 2020 7:54 am
According to a report by Reuters, citing an internal email by Tesla Inc (TSLA), the US electric car maker informed furloughed employees that they would not return to work for at least one more week. The company had previously intended to resume normal work process at its facility in Fremont, California, on May 4th. Production […]
Read moreMay 1, 2020 7:46 am
American Airlines Group Inc (AAL) reported a net loss of $2.2 billion during Q1, or the first quarterly loss since its bankruptcy exit in 2013, as the coronavirus pandemic delivered a severe hit to the entire sector. American Airlines shares closed lower for the sixth time in the past ten trading sessions on NASDAQ on […]
Read moreApril 30, 2020 9:03 am
Anthem Inc’s (ANTM) first-quarter revenue, reported on Wednesday, topped Wall Street estimates, supported by pharmacy product revenue related to the launch of IngenioRx and by higher premium revenue. Anthem shares closed higher for the fifth time in the past ten trading sessions in New York on Wednesday. It has also been the sharpest single-session gain […]
Read moreApril 29, 2020 8:51 am
Merck & Company Inc’s (MRK) first-quarter results, reported on Tuesday, exceeded Wall Street estimates. However, the company warned of a $2.1 billion hit to its full-year revenue, as it expects “reduced demand for its physician-administered products while pandemic-related access measures remain in place.” Merck shares closed lower for the fourth time in the past ten […]
Read moreApril 29, 2020 7:35 am
PepsiCo Inc’s (PEP) first-quarter results, reported on Tuesday, exceeded Wall Street estimates, but the company withdrew its full-year forecast due to global uncertainty stemming from the coronavirus pandemic. However, the beverage company did not state what the direct impact of the virus on its business was. PepsiCo shares closed higher for a third consecutive trading […]
Read moreApril 28, 2020 9:16 am
The production ramp for Apple Inc’s 5G iPhones has been delayed as the coronavirus pandemic has caused disruptions to supply chain, the Wall Street Journal reported, citing sources. The tech giant also intends to produce 20% fewer handsets during the second half of 2020, the report stated. Apple shares closed higher for a second consecutive […]
Read moreApril 28, 2020 6:55 am
Starbucks Corp (SBUX) has formed a partnership with venture capital company Sequoia Capital China, aimed at co-investing in technology businesses in China, a key market for the coffee chain. The tie-up, which is expected to bolster the digital aspect of Starbucks Corp’s business in China, will grant the company an early access to “ideas in […]
Read moreApril 27, 2020 8:25 am
Verizon Communications Inc (VZ) reported last week a loss of 68,000 phone subscribers, who pay a monthly bill, in Q1 and pulled its full-year revenue forecast amid lockdowns and store closures that have led to a considerable decrease in client activity. Analysts on average had expected phone subscriber growth of 100 during the first quarter. […]
Read moreApril 24, 2020 8:14 am
The Blackstone Group LP’s (BX) first-quarter distributable earnings, reported on Thursday, went up 3.55% year-on-year, supported by higher management and advisory fee revenue. Blackstone shares closed higher for a second consecutive trading session in New York on Thursday. It has also been the sharpest single-session gain since April 16th. The stock went up 4.53% ($2.10) […]
Read moreApril 23, 2020 9:25 am
AT&T Inc’s (T) first-quarter revenue and earnings, reported on Wednesday, missed Wall Street estimates, as the impact of the coronavirus pandemic weighed on business performance. The telecoms company pulled its full-year earnings forecast. AT&T shares closed lower for a third consecutive trading session in New York on Wednesday. The stock went down 1.34% ($0.40) to […]
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