Month: April 2020

(Bloomberg) — The Justice Department has begun a preliminary inquiry into how taxpayer money was lent out under the Paycheck Protection Program and has already found possible fraud among businesses seeking relief, a top official said.Assistant Attorney General Brian Benczkowski, who runs the department’s criminal division, said prosecutors have contacted 15 to 20 of the largest loan processors and the Small Business Administration, which oversees one relief program, as part of an effort to police the trillions of dollars in federal aid being pushed out hastily to blunt the economic impact of the coronavirus pandemic.The review has already turned up …read more […]

Despite beating analyst earnings and revenue estimates, Gilead shares fell after the bell. Yahoo Finance Live takes a closer look at the numbers. …read more […]

Boeing’s capital raise, first reported by Reuters earlier this week, would be the sixth-largest investment-grade bond offering of all time and the biggest year-to-date, according to Refinitiv data. The Federal Reserve’s intervention in the credit market has boosted prospects for troubled borrowers such as Boeing. While it has not yet snapped up any corporate bonds such as Boeing’s, its openness to doing so has buoyed credit markets. …read more […]

Apple beat on both top and bottom lines in its second quarter earnings report, which it announced after hours on Thursday. The tech company saw a record amount of sales in its wearables section, but other products such as iPhones and iPads were down compared to the year prior. Yahoo Finance’s Myles Udland breaks down Apple’s earnings report. …read more […]

…read more […]

(Bloomberg) — Apple Inc. reported quarterly revenue that grew 1%, but didn’t provide a forecast for the first time in more than a decade, sparking concern about performance later this year. The shares slipped 1.5% in extended trading.Chief Executive Officer Tim Cook said Apple experienced a “very depressed” period in late March and early April, in the depths of the Covid-19 pandemic, but saw a “pickup” in the second half of this month. The company also increased its share buyback plan by $50 billion.Fiscal second-quarter sales came in at $58.3 billion, compared with $58 billion a year earlier. That beat …read more […]