Business News
U.S. new home sales unexpectedly rise in April
Sales of new U.S. single-family homes unexpectedly rose in April, but the gains are likely temporary as the coronavirus crisis ravages the economy, unleashing record unemployment.
Month: May 2020
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Target CEO: Stimulus checks led Americans to return to stores, shopping across all categories
In the first-quarter, Target posted a beat on both its top and bottom line. The retail giant also saw a spike in digital comparable sales up 141%. Yahoo Finance’s Brian Sozzi and Alexis Christoforous speak to Brian Cornell, Target chairman & CEO about the current state of the business and the future outlook of the store, including the importance of safety. …read more […]
Business News
UK’s John Lewis plans ‘phased’ re-opening of department stores
British retailer John Lewis Partnership said on Tuesday it will re-open its department stores on a “phased basis” after the government said “non-essential” retail could re-open from June 15.
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Novavax launches COVID-19 vaccine trial
Yahoo Finance’s Brian Sozzi, Alexis Christoforous, and Anjalee Khemlani speak with Novavax R&D President Dr. Gregory Glenn about the company’s coronavirus vaccine candidate. …read more […]
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Markets surge on vaccine hopes, lockdowns easing
Yahoo Finance’s Brian Sozzi and Alexis Christoforous break down the market action with Invesco Chief Global Market Strategist Kristina Hooper.
…read more […]
Business News
S&P 500 breaches 3,000 mark for first time since early March
U.S. stocks surged at the open and S&P 500 breached a major technical barrier on Tuesday as business restarts and optimism about a potential coronavirus vaccine helped investors overlook Sino-U.S. tensions.
Business News
Instant View: S&P rises above 3,000 level for first time since March
U.S. stocks rose above the 3,000 level for the first time since March 5 on Tuesday, continuing a rally that has pushed the benchmark index up nearly 35% from its March 23 closing low on hopes for a potential coronavirus vaccine and the reopening of businesses across the country.
Business News
Merck to buy Austrian vaccine maker as it jumps into COVID-19 race
Merck & Co Inc , which has largely kept to the sidelines of the race for COVID-19 treatments, said it was buying Austrian vaccine maker Themis Bioscience and would collaborate with research nonprofit IAVI to develop two separate vaccines.
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Merck Joins Race For Covid-19 Vaccine; Shares Rise 4.4% In Pre-Market Trading
Merck & Co. (MRK) on Tuesday became the latest drugmaker to join the race for the development of a COVID-19 treatment by announcing the purchase of Austrian vaccine maker Themis Bioscience and the collaboration with non-profit research group IAVI.Shares in Merck rose 4% to $79.40 in U.S. pre-market trading. The drugmaker said that the Themis acquisition builds upon an ongoing collaboration between the two companies to develop vaccine candidates using the measles virus vector platform, and is expected to accelerate the development of Themis’ COVID-19 vaccine candidate. The vaccine candidate is in pre-clinical development, and clinical studies are planned to …read more […]
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What America can learn about reopening from the state of Maine
Yahoo Finance’s Brian Sozzi, Alexis Christoforous, and Andy Serwer discuss states slowly reopening their economies, and what we can learn from how Maine is handling reopening. …read more […]
Business News
Wall Street set to surge at open on recovery, vaccine hopes
Wall Street was set to surge at the open, with the S&P 500 poised to breach a major technical barrier on Tuesday as business restarts and optimism about a potential coronavirus vaccine helped investors overlook Sino-U.S. tensions.
Business News
LATAM becomes largest airline driven to bankruptcy by coronavirus
Chile’s LATAM Airlines Group SA filed for U.S. bankruptcy protection on Tuesday, becoming the world’s largest carrier so far to seek an emergency reorganization amid the coronavirus pandemic.
Business News
Investment bank Moelis in talks to represent Latam bondholders in bankruptcy- source
Investment bank Moelis & Co is in talks with a group owning around $3 billion in bonds and loans owed by Latam Airlines Group SA to represent them in the company’s bankruptcy, one source with knowledge of the matter said on Tuesday.
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Business News
Warner Music kicks off $1.8 billion Nasdaq IPO
Warner Music Group said on Tuesday it is aiming to sell up to $1.82 billion in stock in its U.S. initial public offering, potentially the largest New York IPO so far in 2020 as the market for new stocks rebounds after the COVID-19 pandemic put many debuts on hold.