Southwest Airlines Co on Tuesday posted a $94 million quarterly net loss, its first in nine years, and warned of drastic revenue drops ahead as it sought to raise another $2.6 billion to help weather the coronavirus pandemic.
The investment adage that the market hates uncertainty is oft cited and arguably playing out since the coronavirus and a coordinated national effort to stem the spread by keeping as many people quarantined at home as possible. In many respects, earnings and dividend visibility are near historic lows.It’s fortunate then that the stock market is holding up well in the midst of this record uncertainty. The million dollar question is just when business gets back to normal. There are certainly fears that a second wave will spread throughout the U.S. come this fall, but according to one estimate, that too …read more […]
The U.S. goods trade deficit widened in March amid a collapse in exports of motor vehicles and parts, but overall imports continued to decline likely as the novel coronavirus outbreak disrupted the flow of goods.
World stocks jetted to their highest in almost six weeks on Tuesday as plans to ease coronavirus lockdowns in a number of major economies helped offset more chaos in oil markets and warning of mounting bad credit at HSBC and Santander.
The U.S. Treasury Department will audit every loan for more than $2 million given under the Paycheck Protection Program for businesses hurt by the coronavirus fallout, Treasury Secretary Steven Mnuchin said on Tuesday.
Matador Resources (NYSE:MTDR) shareholders are no doubt pleased to see that the share price has bounced 91% in the… …read more […]
Southwest Airlines reports first quarter earnings as it prepares to cut back on more of its flights due to the coronavirus crisis. …read more […]
Merck & Co Inc warned of a $2.1 billion hit to its 2020 revenue on Tuesday as social distancing due to the COVID-19 pandemic is expected to hammer sales of medically administered drugs including its blockbuster Keytruda treatment.
PepsiCo Inc warned on Tuesday organic revenue and operating profits would suffer in the second quarter as major buyers of its sodas, such as restaurants, theaters and stadiums, were forced to shut down to help control the spread of the coronavirus.
The idea of German flagship carrier Lufthansa using a type of protection from creditors is not yet off the table, a source at the airline said on Tuesday.
The premier of the German state of Bavaria on Tuesday said a warning issued by Lufthansa’s CEO – that governments should not have too much influence on the airline – should be taken seriously.
U.S. stock index futures rose on Tuesday after a round of quarterly earnings reports brought upbeat signs from Pfizer and respiratory mask-maker 3M for investors increasingly hopeful of a relaunch of business across the economy.
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