Global funds changed course in February and recommended a cut to equity allocations in their model balanced portfolio after taking them to a two-year high in January, instead suggesting an increase in bond holdings, Reuters polls showed.
Beyond Meat Inc on Thursday missed quarterly earnings expectations due to higher costs, and said Executive Chairman Seth Goldman would give up his executive status, while remaining chair of the board, sending shares down 10% in after-hours trade.
Global share prices headed for the worst week since the darkest days of the world financial crisis in 2008 as investors braced for the coronavirus to become a pandemic and rapidly spread around the world.
With this week’s coronavirus-driven rout having shaken awake previously slumbering euro-dollar markets, the spotlight is back on the “short volatility” trades that some regulators fear could trigger a blowup on world markets.
Facebook Inc said on Thursday it would cancel its annual developer conference due to fears over the coronavirus, as growing concerns about the economic impact of the global outbreak drove Wall Street to tumble for a sixth straight day.
Headlines moving the stock market in real time. …read more […]
Allianz chief economic advisor Mohamed El-Erian weighs in on the major selloff gripping Wall Street. …read more […]
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The U.S. Securities and Exchange Commission said on Thursday it ordered Wells Fargo & Co to pay $35 million to settle charges it failed to adequately supervise investment advisers who were recommending high-risk products.
(Bloomberg) — Beyond Meat Inc. shares reversed earlier gains and fell in spite of revenue that blew past analyst estimates — a sign investors may be looking for more than rapid sales growth from the faux meat maker.The company’s fourth-quarter sales of $98.5 million exceeded the highest analyst projection and helped push full-year revenue beyond expectations to $297.9 million. Beyond Meat forecast 2020 sales of $490 million to $510 million, also beating the average analyst estimate.Chief Executive Officer Ethan Brown said the company is “only scratching the surface” of the U.S. restaurant market, but investors may be impatient for a …read more […]
Fears of a sustained global economic impact as the coronavirus rapidly spreads beyond China have sent investors scrambling to find safety less than 10 days after the U.S. stock market set record highs.
Occidental Petroleum Corp reported a quarterly loss on Thursday, as the oil and gas producer took more than $1.7 billion in impairment and other charges.
Due to coronavirus-related issues, these companies expect their profits to miss expectations Continue reading… …read more […]
Bed Bath & Beyond Inc would cut about 500 jobs, including management positions, as part of a restructuring program to turn around its business, the home-furnishing retailer said on Thursday.
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