Month: April 2020

Domino’s Pizza Inc. (DPZ) provided an outlook into the four weeks of its second quarter, projecting a 7.1% increase in U.S. comparable store sales, as demand for home-delivery services is on the rise during the coronavirus pandemic.At the same time though, the world’s largest pizza chain by global retail sales pulled its two-to three-year outlook, citing the uncertainty about the global economy and the company’s business operations as a result of the COVID-19 impact. Domino’s international same-store sales are expected to be down 3.2% in the four weeks from March 23 to April 19, according to preliminary figures.”In a time …read more […]

Brazilian planemaker Embraer SA has been thrust into an uncertain future with no immediate plan B, while not ruling out seeking a bailout after Boeing Co jettisoned a $4.2 billion commercial aerospace tie-up amid the coronavirus crisis. The company’s shell-shocked chief executive, in the job for a year with little aerospace experience, sought to rally staff after the board held late-night talks to review the collapse of plans for surviving mounting aerospace competition. “Our history is full of difficult moments, and we have overcome all of them,” Francisco Gomes Neto told Embraer’s 20,000 staff before giving …read more […]

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Germany’s ruling coalition is divided over whether the state should have a role in running airline Lufthansa in return for a rescue package the company aims to finalise next week, politicians said on Sunday. Rolf Muetzenich, parliamentary party leader of junior coalition partners the Social Democrats, demanded a say in the running of the company in return for financial aid. “If companies such as Lufthansa receive billions of euros in state aid from taxpayers’ money, the federal government must also be guaranteed a say in the matter,” he told the Bild newspaper. …read more […]

Investors are bracing for a busy week ahead packed with events that have market-moving potential. …read more […]

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Brazil planemaker Embraer SA said that after a $4.2 billion deal with Boeing Co fell apart over the weekend, it is working on adjusting production levels and capital expenditures, as well as working to preserve cash. The company added in a statement that it finished 2019 with a “solid cash position” and had no “significant debt in the next two years.” Other measures include adjustments to inventory, extension of payment cycles, reduction of expenses and seeking financing, Embraer said. …read more […]

The sharp rebound in equities has pushed widely used measures of valuing U.S. shares to their highest level in years. Strategists say price-to-earnings ratios could go higher still given monetary stimulus, but huge uncertainty around earnings this year because of the economic fallout from the coronavirus makes for challenges in valuing shares. Stock prices have risen even as earnings estimates have fallen, lifting multiples that were knocked down in the virus-driven market meltdown. …read more […]

The U.S. federal government is looking at “a whole bunch of alternatives” to support oil and other energy companies, Treasury Secretary Steven Mnuchin said on Friday as the industry struggles with plummeting prices and demand as the coronavirus crushes economic activity. Taking equity stakes as part of a lending facility for the industry is among the alternatives, Mnuchin said at a White House event. President Donald Trump said: “The energy business is very important to me, and we’re going to build it up.” …read more […]