Novartis on Wednesday won a new European approval for its inflammation drug Cosentyx in a form of arthritis, as the Swiss drugmaker predicts broadening use of its top-selling medicine will eventually push annual sales beyond $5 billion.
The U.S. economy likely contracted in the first quarter at its sharpest pace since the Great Recession as stringent measures to slow the spread of the novel coronavirus almost shut down the country, ending the longest expansion in the nation's history.
The idea of German flagship carrier Lufthansa using a type of protection from creditors is not yet off the table, a source at the airline said on Tuesday.
Asian shares rose for a third session on the trot on Wednesday as investors took heart from easing coronavirus lockdowns in some parts of the world while oil prices jumped on hopes demand will pick up.
Boeing Co is working with investment banks on a multibillion-dollar bond-fueled financing package, aiming to shore up its balance sheet amid a sharp travel downturn from the pandemic, three people familiar with the matter said on Tuesday.
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"That's not saying anything bad about Google or the large cap growth stocks ... but they just don't have the upside potential that some of these other laggard areas do," Morgan Stanley's Mike Wilson said.
Asian shares were cautiously higher on Wednesday as investors paused ahead of the U.S. Federal Reserve's policy decision while oil prices jumped on hopes demand will pick up as many countries lift some of the coronavirus-related restrictions.
Samsung Electronics Co Ltd said on Wednesday it expected profit to decline in the current quarter due to a coronavirus-related slump in sales of smartphones and TVs, although the chip business would remain solid.
Asian equities made cautious gains in early trade on Wednesday following mixed U.S. corporate earnings while oil prices looked set for more wild swings as storage concerns capped optimism about easing coronavirus lockdowns.
Samsung Electronics Co Ltd said on Wednesday it expected its profit to decline in the current quarter, as strength in the chip business would be offset by a sales slump in smartphones and TVs.
Ford Motor Co said on Tuesday its second-quarter loss would more than double to over $5 billion from $2 billion in the first quarter due to the impact of the coronavirus pandemic, but added it had enough money despite the crisis to last the rest of 2020.
Starbucks Corp said on Tuesday it sees sales in China, the company's biggest growth market, recovering by the end of September, following a massive drop in same-store sales in the current quarter on fallout from the coronavirus pandemic, which forced Starbucks to close stores around the globe.
Uber Technologies Inc's Chief Technology Officer Thuan Pham has resigned, effective May 16, the ride-hailing company said in a regulatory filing https://bit.ly/2SiLDZB on Tuesday.