Lufthansa on Thursday said it is negotiating a 9 billion euro ($9.71 billion) “stabilisation package” with Germany’s Federal Economic Stabilization Fund, confirming an earlier Reuters report.
Social game developer Zynga (ZNGA) has posted first quarter bookings of $425 million, easily beating the consensus estimate of $407 million, and guidance of $400 million.“Q1 represented the best first quarter revenue and bookings performance in the company’s history, benefitting from broad-based live services strength throughout the quarter” comments Wedbush analyst Michael Pachter. He reiterated his Zynga buy rating on May 7 with a $9.25 price target (16% upside potential).In particular, Empires & Puzzles and the company’s Social Slots portfolio both experienced record revenue and bookings quarters, with Empires & Puzzles, Merge Magic!, Game of Thrones Slots Casino, and Merge …read more […]
World shares largely shook off data on Thursday showing millions more Americans sought unemployment benefits, with sentiment sustained by stronger than expected Chinese exports.
Motorcycle maker Harley-Davidson Inc on Thursday named Jochen Zeitz as chief executive officer. Zeitz has served as acting president and CEO of the company since February 2020.
Wall Street’s main indexes were set to open sharply higher on Thursday after a surprise rise in Chinese exports and a surge in oil prices spurred hopes of an economic recovery, taking the sting off another gloomy weekly jobless claims report.
Retailers selling fashion online are emerging as the winners of the coronavirus crisis as consumers are staying home even as stores start to reopen, results from major companies showed on Thursday.
Kohl’s Corp said on Thursday it plans to reopen a quarter of its stores by next week, as retailers start to get business going again in states where coronavirus-induced lockdown restrictions have eased.
Wall Street analysts looked past a surprisingly shaky first quarter for payment processors PayPal Holdings Inc and Square Inc hoping that the shift towards more online buying will see their businesses surge this year.
Square reported a surprise loss in the first quarter on Wednesday, as the coronavirus outbreak shut down large parts of the global retail industry and operating expenses rose, while PayPal’s profit plunged 87.4% after it boosted credit loss reserves. Analysts, however, bought into PayPal’s predictions that the second quarter would be far brighter as more consumers get back to work and the boost the crisis has given to online sellers beds down. “On May 1, we had our largest single day of transactions in our history, larger than last year’s transactions on Black Friday or Cyber Monday,” PayPal’s …read more […]
While Warren Buffett abandoned the airlines, the numbers don’t support abandoning the sector or American Airlines (AAL). The stock trades at the lows despite strong government aid and plenty of financial liquidity to survive the depressed air travel in the U.S.The market is focused on some of the negative headlines, but daily air passenger totals are starting to make a nice rebound. The ultimate value of an airline stock or American Airlines in general is based on the willingness of passengers to return to the skies. With the proper focus, investors will find the prospects for American Airlines heading higher.According …read more […]
Millions more Americans sought unemployment benefits last week, suggesting layoffs broadened from consumer-facing industries to other segments of the economy and could remain elevated even as many parts of the country start to reopen.
Bristol Myers Squibb Co on Thursday reported better-than-expected first-quarter results, and said it still expects 2020 earnings within its previously forecast range despite the coronavirus pandemic that has savaged economies worldwide. Bristol said it expects the peak business disruption from the pandemic and the resulting national lockdowns to come in the second quarter, with minimal impact from the fourth quarter of the year onward. Bristol said it had adjusted earnings of $3.96 billion, or $1.72 a share, in the first quarter on revenue of $10.8 billion. …read more […]
Market participants got another pulse check on the U.S. labor market Thursday morning, as the world continues to grapple with the COVID-19 pandemic and ahead of the highly-anticipated April jobs report. …read more […]
Air France-KLM Chief Executive Ben Smith is right to tackle the subject of jobs at the struggling airline, said French government minister Jean-Baptiste Djebbari on Thursday, as trade unions brace for possible cuts.
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