Wall Street jumps on coronavirus drug hopes; Fed in focus
U.S. stocks jumped to seven-week highs on Wednesday as Gilead Sciences gave an encouraging update on a potential COVID-19 treatment and upbeat earnings from Google-parent Alphabet boosted the so-called market-leading FAANG stocks.
Juul plans to cut a third of its workforce- WSJ
Juul Labs Inc is planning to cut around a third of its staff as the e-cigarette maker faces a relentless series of regulatory headaches and falling market share, the Wall Street Journal reported on Wednesday.
Shares jump after upbeat coronavirus drug data, oil surges
World stock markets surged on Wednesday following encouraging news for an experimental COVID-19 treatment and some positive earnings reports, while beaten-up oil prices surged.
Coronavirus savages U.S. economy in first quarter; bigger hit still to come
The U.S. economy contracted in the first quarter at its sharpest pace since the Great Recession as stringent measures to slow the spread of the novel coronavirus almost shut down the country, ending the longest expansion in the nation’s history.
Anthem sees more people opting for govt plans as coronavirus hammers job market
Anthem Inc said on Wednesday that the COVID-19 pandemic could trigger a big shift in business mix and push more people into Medicaid or Obamacare health plans from employer-sponsored ones due to job losses across industries.
Amazon’s foreign websites named in U.S. piracy and counterfeiting report
Several of Amazon.com Inc’s foreign websites have been added to the U.S. trade regulator’s “Notorious Markets” report on marketplaces known for counterfeiting and piracy concerns.
Blue Apron shares sink as coronavirus order bump fails to boost sales
Shares of Blue Apron Holdings Inc slumped as much as 33% on Wednesday as the meal-kit company posted a steep decline in quarterly sales even after seeing a boost in orders from Americans confined to their homes amid coronavirus-led lockdowns.
Lyft to cut 982 jobs due to coronavirus outbreak
Lyft Inc plans to lay off 982 employees, or 17% of the ride-hailing firm’s workforce, due to economic challenges caused by the coronavirus pandemic, the company said in a regulatory filing on Wednesday.
Boeing to shrink workforce and production as coronavirus slams industry
Boeing Co said on Wednesday it would cut its 160,000-person workforce by about 10%, further reduce 787 Dreamliner production and try to boost liquidity as it prepares for a years-long industry recovery from the coronavirus pandemic that drove its seco…
Wall Street jumps on coronavirus drug hopes; Fed decision awaited
U.S. stocks jumped to seven-week highs on Wednesday as Gilead Sciences gave an encouraging update on a potential COVID-19 treatment and upbeat earnings from Google-parent Alphabet boosted shares of other technology and internet giants.
