Fed policymakers see slow, uneven U.S. recovery after coronavirus downturn
The U.S. economy could start to recover in the second half of the year after what is shaping up to be the worst recession in decades, but growth is likely to be slow and uneven, several top Federal Reserve policymakers indicated on Tuesday.
Beyond Meat results beat, suspends 2020 forecast on COVID-19 concerns
Beyond Meat Inc reported better-than-expected quarterly results on Tuesday as it sold more of its plant-based meat products and cut costs on packaging and labor, sending its shares up 3% after the bell.
Airbnb cuts 1,900 jobs as coronavirus hits home rentals
Airbnb Inc is laying off 25% of its workforce, or nearly 1,900 employees, the home rental startup said on Tuesday, as the COVID-19 pandemic brings global travel to a near standstill.
Disney takes $1.4 billion coronavirus hit, sets date to reopen Shanghai park
Walt Disney Co estimated on Tuesday that global measures to contain the coronavirus pandemic cut profits by $1.4 billion, mostly from its shuttered theme parks, but said it would reopen Shanghai Disneyland to a reduced number of visitors next week.
Occidental posts loss on $1.4 billion charges, cuts budget again
Occidental Petroleum Corp on Tuesday reported that it swung to a loss in the first quarter on write downs, and the troubled oil producer cut its budget for the third time since March in response to the historic crash of oil prices.
Match quarterly revenue hit by slowing Tinder growth
Match Group Inc reported quarterly revenue that fell short of Wall Street estimates on Tuesday, hit by slowing growth in its popular dating app “Tinder” as fewer people signed up and paid for its premium features amid the COVID-19 pandemic.
Mattel readies Baby Yoda toys for Christmas as factories come back online
Mattel Inc will have a new line of “Baby Yoda” toys ready to hit shelves in time for Christmas, the company said on Tuesday, as it looks to chart a recovery from a steep drop in first-quarter sales due to the coronavirus lockdowns.
Wall Street rises as lockdowns ease, healthcare shares jump
Wall Street’s main indexes gained on Tuesday as healthcare stocks rallied, oil prices surged and a number of countries and U.S. states eased coronavirus-induced restrictions in an attempt to revive their economies.
Walt Disney misses quarterly profit estimates
Walt Disney Co missed Wall Street expectations for quarterly profit on Tuesday, offering the first assessment of the damage wreaked by the COVID-19 pandemic on the media and entertainment giant’s global business.
Beyond Meat suspends 2020 forecast on COVID-19 concerns; posts sales beat
Beyond Meat Inc posted better-than-expected quarterly sales on Tuesday, but suspended its 2020 forecast as the COVID-19 pandemic hit demand for the company’s plant-based meat products at restaurants.
