The value of General Electric Company (NYSE:GE) shares has dropped significantly by more than 54% since its recent highs of $13.19 in mid-February and lockdown due to the growing effects of coronavirus. As of today, it has hit intraday lows of $6.15 per share. This comes as alarming news to most of its long term […] …read more […]
So, what’s going on in the stock markets? Are they completely haywire? Since February 19, when the bull market ended, the Dow Jones has fallen 36.6% and then gained back, in uneven steps, some 28% from the trough. Movements have been similar in the S&P 500 and the NASDAQ. For the last few weeks, both the S&P and Dow have been holding fairly steady – the S&P near 2,850 and the Dow near 23,950.Yet, there are more questions raised than answers. Are we in a true rally, or will the slide resume? What will happen when people return to work; …read more […]
U.S. airlines from American Airlines Group Inc (AAL) to Delta Air Lines Inc. (DAL) are collectively burning more than $10 billion in cash a month, Reuters reported referring to an industry trade group testimony.According to the testimony prepared by Airlines for America ahead of a U.S. Senate hearing on Wednesday, the airline industry is averaging fewer than two dozen passengers per domestic flight as the coronavirus-related restrictions have brought air travel to an almost complete halt.The four largest U.S. airlines are averaging just 17 passengers per domestic flight and 29 passengers per international flight, according to the testimony.“The U.S. airline …read more […]
U.S. private employers laid off a record 20.236 million workers in April as mandatory business closures in response to the novel coronavirus outbreak savaged the economy, setting up the overall labor market for historic job losses last month.
United Airlines Holdings Inc said on Wednesday it plans to raise $2.25 billion through a bond offering amid a coronavirus-linked slump in air travel demand, and backtracked on a controversial plan to cut working hours for thousands of employees.
(Bloomberg) — The squeeze on sales suffered by Beyond Meat Inc. due to restaurant closures in the first quarter wasn’t as bad as feared, while stockpiling by consumers benefited the group’s retail business, analysts said.UBS Group AG’s Steven Strycula noted the faux-meat maker’s U.S. retail sales surged 157% year-on-year, and joined analysts at Jefferies and Piper Sandler & Co. in lifting his price target for the stock.Beyond Meat’s shares jumped as much as 18% to the highest intraday since Feb. 26. The shares are now up 54% since the start of the year.Here’s a summary of what analysts had to …read more […]
Barrick Gold Corp posted a nearly 55% rise in quarterly profit on Wednesday as gold prices surged, bolstering its ability to snap up mines including in copper, its chief executive said.
Uber is laying off nearly 3,700 workers as ridership declines due to the COVID-19 crisis. Yahoo Finances’ Jared Blikre breaks down the details and how shares of the stock are reacting. …read more […]
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […] …read more […]
(Bloomberg) — General Motors Co. surged in early trading after reporting better-than-expected quarterly earnings on booming sales of new pickup models that are helping Chief Executive Officer Mary Barra weather the coronavirus pandemic.Full-size pickup deliveries soared 27% in the first three months of the year, with government shutdown orders disrupting only the last couple weeks of the quarter. Strong sales of lucrative Chevrolet Silverado and GMC Sierra trucks helped GM beat estimates for revenue and more than double analysts’ average projection for earnings per share.GM shares climbed as much as 11% shortly after the start of regular trading Wednesday. The …read more […]
General Motors Co on Wednesday outlined plans for a May 18 restart of most of its North American plants shut down by the coronavirus pandemic as it reported a stronger than expected quarterly profit, sending its shares up 7.8% in premarket trading.
Uber Technologies Inc will cut about 3,700 full-time jobs and Chief Executive Officer Dara Khosrowshahi will forgo his base salary for the remainder of the year, the company said on Wednesday, as the COVID-19 pandemic decimates its ride-hailing business.
U.S. stocks opened higher on Wednesday on hopes of a pickup in business activity with states easing coronavirus-induced curbs, while investors looked past a stunning 20 million plunge in U.S. private payrolls last month.
United Airlines Holdings Inc said it plans to raise $2.25 billion through a bond offering as it grapples with a slump in air travel demand due to government-mandated lockdowns across the world.
U.S. stock indexes were set to open higher on Wednesday on hopes of a pickup in business activity with states easing coronavirus-led curbs, while investors looked past a stunning 20 million plunge in U.S. private payrolls last month.
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