AstraZeneca on Wednesday beat analysts’ estimates for first-quarter profit and reiterated its outlook for 2020, as demand for the company’s newer medicines remained steady.
British clothing retailer Next said on Wednesday total product sales in its latest quarter crashed 41%, reflecting the closure of all its stores in the coronavirus lockdown and the temporary shutdown of its online operations.
Shares in Alphabet (GOOGL) spiked 8% in after-hours trading following the release of the tech giant’s first quarter earnings results. Revenue surged 13% year-over-year to $41.16B, easily beating the Street forecast of $40.2B, although Q1 Non-GAAP EPS of $9.87 missed the consensus forecast by $0.89.As expected, the fallout from the coronavirus pandemic saw YouTube advertising revenue drop 14% compared to the previous quarter, but on a year-over-year basis the figure was still up over 33%.“Our business, led by Search, YouTube, and Cloud, drove Alphabet revenues to $41.2 billion, up 13% versus last year, or 15% on a constant currency basis,” …read more […]
Standard Chartered PLC on Wednesday said it expects virus-battered economies to recover later this year, striking an optimistic note after increased credit impairment and provisions for future loan losses pushed first-quarter profit down 12%.
WPP , the world’s biggest advertising company, said net sales fell 3.3% in the first quarter, with the impact of the COVID-19 pandemic dragging it down by 7.9% in March alone, prompting it to cut more costs.
WPP , the world’s biggest advertising company, said net sales fell 3.3% in the first quarter, with the impact of the COVID-19 pandemic dragging it down by 7.9% in March alone, prompting it to cut more costs.
Malaysia’s AirAsia Group Bhd said on Wednesday it did not intend to take any new aircraft deliveries this year due to the sharp fall in demand from the coronavirus crisis and was relooking at its order book with Airbus SE .
Novartis on Wednesday won a new European approval for its inflammation drug Cosentyx in a form of arthritis, as the Swiss drugmaker predicts broadening use of its top-selling medicine will eventually push annual sales beyond $5 billion.
Volkswagen on Wednesday said it expected to be profitable on a full-year basis even as the coronavirus pandemic caused first-quarter earnings to plunge.
Daimler said it expected the operating profit of its Mercedes-Benz Cars & Vans division to be above the prior-year level, even as the corona pandemic forced the Stuttgart-based car and trucks maker to abandon its outlook earlier this month.
Planemaker Airbus on Wednesday posted a 49% slump in first-quarter adjusted operating profit to 281 million euros ($304.7 million) as revenue dropped 15% to 10.631 billion euros amid the “gravest crisis the aerospace industry has ever known”.
Samsung Electronics Co Ltd said on Wednesday it expected profit to decline in the current quarter due to a coronavirus-related slump in sales of smartphones and TVs, although the chip business would remain solid.
Garbage haulers still collect trash. Cops are on the beat. Couriers deliver food and packages. Insurance agents work from home.
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.
(Bloomberg) — Southwest Airlines Co. raised about $4 billion by selling shares and convertible notes, stepping up a push to add liquidity as the coronavirus pandemic all but erases demand for flights.The carrier sold 70 million shares at $28.50 apiece and $2 billion of convertible notes due in 2025, according to a statement. Southwest increased both the stock and bond portion of the sale from what it had previously targeted.Southwest is following United Airlines Holdings Inc. in offering equity amid the biggest crisis in the industry’s history, as carriers rush to raise funds even after receiving billions of dollars in …read more […]
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