Canada's Rogers Communications Inc on Wednesday pulled its 2020 forecast and reported lower-than-expected quarterly profit due to a drop in ad sales and weaker demand for its wireless services as a result of the coronavirus outbreak.
Kimberly-Clark Corp said on Wednesday sales of tissue and toilet paper rose 13% in the first quarter as consumers stocked up in preparation for the coronavirus pandemic, helping the company beat Wall Street estimates for profit and sales.
The annual Social Security cost-of-living adjustment may only be 0.8%, according to one early estimate based on first quarter data. That's less than the 1.6% bump retirees saw to their monthly benefit checks this year. Here's what's driving the forecast down.
Kone reported a smaller than expected 10% fall in first-quarter profit on Wednesday, with demand for its elevators and services strong in many countries despite the coronavirus outbreak.
Baker Hughes Co reported lower-than-expected revenue on Wednesday as demand for its oilfield equipment and services took a hit from a more than 80% plunge in oil prices this year.
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U.S. Treasury Secretary Steven Mnuchin said on Wednesday most, if not all, of the U.S. economy should be reopened by later in the summer after a devastating shutdown to try to stem the spread of the coronavirus.
Delta Air Lines Inc reported on Wednesday its first quarterly loss in eight years as the coronavirus crisis devastates air travel demand, but said its daily cash burn would halve through June as it braces for a recovery that could take two to three years. "We should be prepared for a choppy, sluggish recovery even after the virus is contained," Chief Executive Ed Bastian said in an employee memo on Wednesday.
U.S. stock markets opened higher after a two-day selloff on Wednesday as upbeat quarterly earnings reports lifted sentiment following a record crash in oil prices, although companies warned of more pain in the coming months.
The European Commission will next month present a set of rules for the safe reopening of air travel when coronavirus pandemic lockdowns end, including social distancing in airports and planes, the EU's transport chief said on Wednesday.
Zoom Video Communications Inc said on Wednesday it was upgrading the encryption features on its video conferencing app to better protect meeting data and offer resistance to tampering. The new version of the app, Zoom 5.0, will release within the week, the company said in a statement.
The U.S. House of Representatives will pass Congress' latest coronavirus aid bill on Thursday, House Speaker Nancy Pelosi said, paving the way for nearly $500 billion more in economic relief amid the pandemic.
White House economic adviser Larry Kudlow on Wednesday said the Trump administration would try to fairly distribute the next round of aid for small businesses hurt by the coronavirus outbreak, saying demand for the first round of funding was "overwhelming."
REMITR | Christina MacDonald Sikand | Apr 22, 2020 Team Remitr wants to help Despite the uncertainty caused by COVID-19, Team Remitr remains focussed on doing everything we can to support our customers, business partners, and the wider SMB community. Remitr CEO and CO-Founder, Kanchan Kumar: “Our goal is to enable small businesses to support
Netflix Inc said on Wednesday it plans to raise about $1 billion in debt, a day after the streaming pioneer doubled its own projections for new customers as stuck-at-home users binged on original shows.