Mattel Inc will have a new line of “Baby Yoda” toys ready to hit shelves in time for Christmas, the company said on Tuesday, even as it predicted a steep drop in second-quarter sales due to the coronavirus lockdowns.
(Bloomberg) — Norwegian Cruise Line Holdings Ltd. sold a larger-than-expected $675 million of junk bonds that have a pledge on the company’s vessels and islands as it seeks to raise as much as $2 billion from a broader financing to survive the travel industry shutdown.The cruise line operator priced the four-year secured bonds, which were increased from $600 million, at a coupon of 12.25% and a discount of 99 cents on the dollar for an all-in yield of 12.575%, according to people with knowledge of the transaction. The bond was earlier offered with a coupon of 12.25% to 12.5% with …read more […]
Spirit AeroSystems Holdings said on Tuesday it has reached an agreement with Boeing Co to deliver 125 737 MAX shipsets to the planemaker in 2020, down from the 216 it had previously announced.
U.S. airlines are collectively burning more than $10 billion in cash per month and averaging fewer than two dozen passengers per domestic flight in the wake of the coronavirus pandemic, industry trade group Airlines for America said in prepared testimony seen by Reuters ahead of a U.S. Senate hearing on Wednesday.
Occidental Petroleum Corp on Tuesday swung to a first quarter loss on writedowns and charges, and the troubled U.S. oil producer cut its budget for the third time since March in response to a historic oil-price crash.
After Elon Musk tweeted he was “selling almost all [my] physical possessions,” to his 33.6 million Twitter followers late last week, many chalked up the bold pledge as par-for-the-course blustering from the full-time Twitter troll and tech tycoon.But now it appears the Tesla and SpaceX chief was actually quite serious. He’s already listed two of his six homes in L.A.’s Bel Air neighborhood, asking $30 million for his longtime main residence and $9.5 million for a much smaller home across the street, which was previously utilized as a private schoolhouse for his children. Both homes are listed as “for sale …read more […]
On Tuesday, shares of rental car company Hertz fell more than 14% after it disclosed that it received approval from its lenders to continue negotiations through May 22 to “develop a financing strategy and structure that better reflects the economic impact” of COVID-19. …read more […]
The U.S. economy could start to recover in the second half of the year after what is shaping up to be the worst recession in decades, but growth is likely to be slow and uneven, several top Federal Reserve policymakers indicated on Tuesday.
Disney reported its 2020 Q2 earnings on Tuesday, and the closure of its parks was in focus. Shanghai Disneyland will reopen May 11, but the rest of the parks remain shuttered. …read more […]
Airbnb Inc is laying off 25% of its workforce, or nearly 1,900 employees, the home rental startup said on Tuesday, as the COVID-19 pandemic brings global travel to a near standstill.
Mattel Inc will have a new line of “Baby Yoda” toys ready to hit shelves in time for Christmas, the company said on Tuesday, as it looks to chart a recovery from a steep drop in first-quarter sales due to the coronavirus lockdowns.
“The food supply chain is breaking,” Tyson Foods (NYSE: TSN) warned in April.
Prices for eggs, bacon and beef are already soaring. But this may merely be the beginning.
That most dreaded word – “shortage“ – is flitting around. And a food shortage in the midst of a pandemic is the last thing Americans need.
For investors, we have to recognize which companies are going to suffer from this situation. And which are going to profit.
So, with what’s supposed to be the start of barbecue season (Memorial Day weekend) around the corner, the looming meat shortage is our focus for this week’s Making …read more […]
Walt Disney Co estimated global coronavirus lockdowns cut profits by $1.4 billion, mostly from its shuttered theme parks, but said it would reopen Shanghai Disneyland next week.
Occidental Petroleum Corp on Tuesday reported that it swung to a loss in the first quarter on write downs, and the troubled oil producer cut its budget for the third time since March in response to the historic crash of oil prices.
Match Group Inc reported quarterly revenue that fell short of Wall Street estimates on Tuesday, hit by slowing growth in its popular dating app “Tinder” as fewer people signed up and paid for its premium features amid the COVID-19 pandemic.
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