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Rocky road ahead at Macy’s, potential ‚regional flare-ups,‘ with Covid-19 cases surging in some states
The road to recovery at Macy’s is likely going to be a rocky one because of the coronavirus pandemic. The retailer warned Wednesday that sales are falling again in states such as Texas where Covid-19 cases are on the rise.
Michael Kors owner Capri estimates 70% plunge in first-quarter revenue
Michael Kors owner Capri Holdings on Wednesday estimated a 70% slump in first-quarter sales after the coronavirus hammered luxury sales.
U.S. market is ’smoking dope on earnings‘ and investors are likely to be disappointed, economist says
Investors should stay bearish on U.S. stocks until the full extent of the economic damage caused by the coronavirus pandemic is known, according to TS Lombard.
FedEx shares jump over 9% as quarterly results top expectations
Shares of FedEx jumped 9.4% in extended trading on Tuesday after a surge in pandemic-fueled home deliveries helped the U.S. package carrier post better-than-expected quarterly profit and revenue.
Macy’s reports first-quarter loss but does not expect ‚another full shutdown‘
Macy’s on Wednesday reported a first-quarter loss, in line with the retailer’s previously announced estimates, as its business took a hit from the coronavirus pandemic.
Wells Fargo says it expects to cut dividend in the third quarter to comply with Fed stress test
The bank said it will likely announce a lower dividend on July 14 when it releases quarterly earnings.
JPMorgan, Bank of America, Citi and Goldman maintain dividends post-stress tests, Wells Fargo to cut
Goldman, Bank of America, Morgan Stanley, and Citigroup all said they will maintain their dividend. Wells Fargo, however, said it will cut.
Stocks making the biggest moves in the premarket: Micron, Conagra Brands, Apple, Xilinx & more
The stocks making the biggest moves in premarket trading include Micron, Conagra Brands, Apple, Xilinx, and more.
Hidden wine cave, $110 million parking bill: Energy collapse wasn’t only thing that sank Chesapeake
The fracking giant’s bankruptcy filing followed an accounting mess at the company that included no budgets, a massive wine collection and a nine-figure bill for parking garages.