Month: April 2020

American Airlines loses $2.2 billion in first quarter as coronavirus roiled air travel

Business

A member of a ground crew walks past American Airlines planes parked at the gate during the coronavirus disease (COVID-19) outbreak at Ronald Reagan National Airport in Washington, April 5, 2020. Joshua Roberts | Reuters American Airlines lost more than $2.2 billion in the first three months of the year — its biggest quarterly loss since …

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McDonald’s earnings fall 17% as coronavirus leads to restaurant closures, plunging sales

Earnings

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 …

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Stocks making the biggest moves in the premarket: Twitter, Comcast, McDonald’s, Tapestry & more

Finance

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 …

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The 5 stock-picking legends you must study up on to become a smarter investor

Wealth

Online books are having a moment. They are the highest-ranked category in year-over-year e-commerce growth, surging 295%. Phil Town, an author whose investing books have been best sellers, is also a big reader of iconic investors who have displayed a penchant for writing. Here are the five market giants Town recommends for reading material if you want …

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Stocks are headed for their best month in decades, yet most of Wall Street hates this rally

Investing

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 …

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This is the one thing you can do to teach your kids about investing, according to financial guru Mellody Hobson

Personal finance

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 …

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Op-Ed: It’s not time to panic, it’s time to plan your finances during coronavirus pandemic

Small Business

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 …

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Facing dearth of passengers, leisure airline ramps up plan to fly packages for Amazon

Business

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. …

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Microsoft’s stock rises after company reports 15% sales jump and says coronavirus had ‘minimal’ impact on revenue

Earnings

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 …

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The top 10 podcasts we all need in our lives right now, according to a psychotherapist

Wealth

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 …

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GE says first-quarter revenue declined 8%, expects this quarter to be worse because of pandemic

Investing

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 …

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The stock market is up from its coronavirus dip. Should you get out?

Personal finance

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, …

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Subway CEO defends franchise owners who applied for coronavirus small business loans

Small Business

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 …

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Dr. Anthony Fauci says data from remdesivir coronavirus drug trial shows ‘quite good news’

Business

White House health advisor Dr. Anthony Fauci said Wednesday that data from a coronavirus drug trial testing Gilead Sciences‘ antiviral drug remdesivir showed “quite good news” and sets a new standard of care for Covid-19 patients. Speaking to reporters from the White House, Fauci said he was told data from the trial showed a “clear-cut …

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Alphabet shares spike after earnings show Q1 revenue hit wasn’t as bad as expected

Earnings

Sundar Pichai, Alphabet CEO. David Paul Morris | Bloomberg | Getty Images Shares of Alphabet climbed 8% during premarket trading Wednesday after the company reported earnings that beat revenue expectations, easing investors’ fears about the pandemic’s impact on advertising. The stock move is set to add over $70 billion to its market cap, bringing it …

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Banks say that electronic loan portal for small business relief program is to blame for delays

Finance

Secretary of the Treasury Steven Mnuchin speaks with President Donald J. Trump and members of the coronavirus task force during a briefing in response to the COVID-19 coronavirus pandemic on Thursday, April 02, 2020 in Washington, DC. (Photo by Jabin Botsford/The Washington Post via Getty Images) The Washington Post Under pressure to deliver relief to …

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Suze Orman reacts to a millennial living on $80,000 a year with a $720 monthly car payment

Wealth

Personal finance expert Suze Orman wants Wendy Gonzalez to think bigger when it comes to her money goals. The Los Angeles-based millennial earns $80,000 a year working as a logistics supervisor for an auto tech company and eventually wants to make $95,000. “Why limit yourself to $95,000 a year?” Orman asks, reacting to CNBC Make …

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Cramer: Promising data from coronavirus drug trial ‘beginning of the end of the true nightmare’

Investing

Jim Cramer Scott Mlyn | CNBC CNBC’s Jim Cramer said Wednesday that positive news from Gilead Sciences about a potential treatment for the coronavirus marked a turning point in the fight against Covid-19. “What I regard this as is the beginning of the end of the true nightmare, which is that it’s a death sentence,” Cramer said on …

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