April 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 […]
Read moreApril 23, 2020 6:44 am
An investigation into Boeing Co’s (BA) bid to acquire the commercial aviation unit of Brazilian plane maker Embraer has been resumed by the European Commission, a filing revealed earlier this week. A decision is expected by August 7th. The regulator put the investigation on hold on February 24th, as it expected the information it had […]
Read moreApril 22, 2020 9:45 am
Lockheed Martin Corp’s (LMT) first-quarter results, reported on Tuesday, exceeded Wall Street estimates, supported by stronger sales in its aeronautics division. Despite that first-quarter earnings were not influenced, Lockheed said it was “beginning to experience some issues in each of its business areas related to COVID-19.” Lockheed Martin shares closed lower for a second consecutive […]
Read moreApril 22, 2020 6:14 am
A SEC filing earlier this week revealed that General Electric Co (GE) had entered into a revolving credit agreement for $15 billion. The new agreement is scheduled to mature on April 17th 2023. General Electric shares closed lower for a second consecutive trading session in New York on Tuesday. The stock went down 0.46% ($0.03) […]
Read moreApril 21, 2020 8:36 am
Credit Suisse downgraded Walt Disney Co (DIS) from “Outperform” to “Neutral”, as weakness in the company’s theme parks business may offset strong performance of its streaming business. The bank also cut its 12-month price target on the stock from $140 to $116 and its full-year 2020 earnings forecast to $1.67 per share from $2.25 per […]
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