The entrance to a Macy’s department store. Jeffrey Greenberg | Universal Images Group | Getty Images Macy’s told analysts Thursday that it is well into the financing process to raise debt, to come up with additional liquidity during the coronavirus pandemic. “We have been engaged in this process for a while,” Chief Financial Officer Paula Price
Month: April 2020
McDonalds and other local stores remain shuttered due to COVID-19 at Times Square on April 13, 2020 in New York, NY. Eduardo Munoz | Getty Images McDonald’s is expected to report earnings before the bell Thursday. Wall Street is anticipating earnings per share of $1.57 on revenue of $4.65 billion, based on a survey of
Take a look at some of the biggest movers in the premarket: Twitter (TWTR) – Twitter reported quarterly profit of 11 cents per share, a penny a share above estimates. Revenue and the number of monetizable daily active users beating forecasts as well. Twitter is not giving any guidance for the current quarter or the
While most Americans have received their coronavirus stimulus payments by now, the IRS Get My Payment tool, which tracks the status of the checks, offers some hope to those who haven’t. But for many, the IRS website not only didn’t provide accurate updates, it left people worried they would never receive a payment at all. The
The New York Stock Exchange (NYSE) is seen in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, April 26, 2020. Jeena Moon | Reuters As encouraging as the market comeback this month has been, Wall Street has little faith in it. A leveling out of
Ariel Investments co-CEO and president Mellody Hobson speaks at the 2017 Fortune Most Powerful Women Summit in Washington, D.C. Paul Morigi | Getty Images Entertainment | Getty Images Investment expert Mellody Hobson is a firm believer in teaching kids about investing. She’d like it taught at every school in America — even at a young
Phynart Studio Prior to the Covid-19 pandemic, an astounding 53% of the American population felt anxious about personal finances. Undoubtedly, that percentage has grown significantly, with more than 26 million Americans becoming unemployed since then. The statistics are alarming, but it is not time to panic — it’s time to plan. Although many financial plans
In this photo illustration the American biotechnology company Gilead Sciences logo seen displayed on a smartphone with a computer model of the COVID-19 coronavirus on the background. Budrul Chukrut | SOPA Images | Getty Images The Food and Drug Administration has been in “sustained and ongoing” discussions with Gilead Sciences to make antiviral drug remdesivir
Elon Musk, chief executive officer of Tesla Inc., speaks during a ceremony at the company’s Gigafactory in Shanghai, China, on Tuesday, Jan. 7, 2020. Qilai Shen | Bloomberg | Getty Images Tesla shares rose more than 7% after hours as the company showed its third consecutive quarter with a profit. Here’s how the company did:
Market researcher James Bianco warns April’s big run will collapse. His reason: Investors are too bullish. “I understand the market has been up a lot since the March low. But what I see in the market is a retracement rally that looks very similar to the first type of rallies that you get in protracted
Although it may seem as though every health care worker is on the front lines fighting Covid-19, many medical professionals are at home waiting to get back to work like millions of other Americans. That’s because many hospitals and health systems have suspended elective services and procedures during the shutdown. Over 200 facilities around the country
The Federal Reserve said Wednesday it would keep its benchmark interest rate near zero in response to the economic shock from the coronavirus crisis. “The most significant responsibility of the Fed now is to make sure that credit markets continue to function,” said Greg McBride, chief financial analyst at Bankrate.com. “Without functioning credit markets, there will be no economic
A Prime Air cargo plane, operated by Amazon.com Inc., sits on display with other passenger jets during the 53rd International Paris Air Show at Le Bourget, in Paris, France. Jason Alden | Bloomberg | Getty Images As millions of would-be travelers stay home because of the coronavirus pandemic, one airline has found an eager customer: Amazon.
Microsoft CEO Satya Nadella Tobias Schwarz | AFP | Getty Images Microsoft shares rose 2% in extended trading on Wednesday after the company reported fiscal third-quarter sales growth of 15%, fueled by its cloud business. The company said in a statement that the coronavirus “had minimal net impact on the total company revenue” in the
The logo of DBS, Singapore’s largest bank. Roslan Rahman | AFP | Getty Images Southeast Asia’s largest bank, DBS, on Thursday said it set aside 1.09 billion Singapore dollars ($772.5 million) to cover potential losses from the coronavirus pandemic — which resulted in a 29% year-over-year fall in net profit in the first quarter. The Singaporean
We each have our own different challenges to deal with, but if there’s one thing we can all agree with, it’s that there’s never been a more urgent need for laughter, inspiration and escapism. Luckily, we have podcasts to keep us informed — but not to an excessive degree — about the coronavirus pandemic, while also
General Electric reported Wednesday a steep declines in first-quarter revenue and earnings as the industrial giant took a hit amid the coronavirus pandemic. The company posted a total revenue of $20.524 billion, which represents a year-over-year decline of 8%. GE Industrial profits fell 46% year over year to $1.096 billion from $2.017 billion. On an
mediamasmedia The stock market is acting strangely these days, with headlines about market rallies next to ones about historic unemployment figures and companies filing for bankruptcy. You can’t figure it out. But you may be wondering if you should take advantage of the upswing and pull some money out of the market. After all, before this recent rally,
Subway CEO John Chidsey on Wednesday defended the company’s franchisees who applied for small business loans to help offset the economic impacts from the coronavirus pandemic. “We literally have 10,700 franchisees in the U.S., and on average they own two restaurants apiece,” Chidsey said on CNBC’s “Squawk on the Street.” “We are the ultimate mom-and-pop, if
In this July 9, 2015, file photo, a man walks outside the headquarters of Gilead Sciences in Foster City, Calif. Eric Risberg | AP Gilead Sciences said Wednesday it is aware of “positive data” from one of its studies looking at antiviral drug remdesivir as a potential treatment for the coronavirus. The company also released data
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