The Federal Reserve, which has pumped trillions in emergency funding into U.S. financial markets to stem the damage from the coronavirus pandemic, is expected on Wednesday to reiterate its promise to do whatever it takes to support the world’s largest economy.
U.S. stocks opened higher on Wednesday after Gilead Sciences gave an encouraging update on a potential COVID-19 treatment, while upbeat earnings reports from Boeing and Google-parent Alphabet added to the sentiment.
The plane-maker, already struggling after grounding the 737 Max, plans to axe 10% of its staff. …read more […]
Wall Street looked set to jump at open on Wednesday after Gilead Sciences reported an encouraging update on a potential COVID-19 treatment, while upbeat earnings reports from Google-parent Alphabet and Boeing boosted the mood.
U.S. stocks were poised to open higher Wednesday as upbeat data on coronavirus treatment from Gilead Sciences offset fresh figures that showed U.S. economic growth contracted in the first quarter. …read more […]
General Electric Co said on Wednesday the coronavirus pandemic dealt a $1 billion blow to cash flow at its industrial business in the first quarter, while total revenue fell almost 8% and the company warned the damage would worsen in the next three months.
Boeing Co said on Wednesday it would cut its workforce by about 10% and further reduce 787 Dreamliner production after reporting a loss for the second straight quarter as the coronavirus pandemic hits global travel demand.
AirAsia Group , one of Europe’s top five corporate export customers, will stop taking deliveries of Airbus jets this year and review its remaining orders as the coronavirus crisis heaps pressure on the Malaysian carrier.
Gilead Sciences (GILD) has reported that it is aware of positive data emerging from the critical National Institute of Allergy and Infectious Diseases’ (NIAID) study of remdesivir for the treatment of COVID-19.“We understand that the trial has met its primary endpoint and that NIAID will provide detailed information at an upcoming briefing” the company said in a press release on April 29. Trading in the stock was briefly halted, before shares surged 9% in Wednesday’s pre-market trading.The randomized, controlled NIAID trial “has all the necessary scientific standards that are really going to help us define if this drug works or …read more […]
U.S. stock index futures jumped on Wednesday after Gilead Sciences said its experimental antiviral drug met the main goal of a trial testing it in COVID-19 patients.
The U.S. economy contracted in the first quarter at its sharpest pace since the Great Recession as stringent measures to slow the spread of the novel coronavirus almost shut down the country, ending the longest expansion in the nation’s history.
(Bloomberg) — Gilead Sciences Inc. said data from a U.S. study of its drug remdesivir showed the medication had met the primary endpoint in a trial of its effectiveness in treating Covid-19.The company said in a statement that it is aware of positive data emerging from the National Institute of Allergy and Infectious Diseases’ study of remdesivir for treating the disease caused by the novel coronavirus.Gilead shares were halted, but the news appeared to lift the entire U.S. stock market, with futures linked to major U.S. indexes jumping after the company’s statement was issued.The U.S.-run trial looked at whether patients …read more […]
Anthem Inc beat quarterly estimates for revenue on Wednesday, helped by the launch of pharmacy benefits business IngenioRx and as more people opted for its health plans.
When the coronavirus outbreak in China disrupted global smartphone production in February, Samsung looked set to weather the crisis better than most thanks to its limited exposure there and launches of pricey 5G phones. Its fortunes are reversing.
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