Coming U.S. shale results will test extent of oil hedges, output cuts
As low crude oil prices leave U.S. producers struggling to eke out profits, investors will focus on production hedges and cost-cuts to determine winners from losers as first quarter earnings roll out in coming days.
Google parent Alphabet tops sales estimates despite virus hammering economy
Alphabet Inc on Tuesday beat analysts’ estimate for quarterly revenue as its Google unit posted double-digit advertising growth despite the economic slowdown from the novel coronavirus.
Uber tech chief Thuan Pham steps down
Uber Technologies Inc’s Chief Technology Officer Thuan Pham has resigned, effective May 16, the ride-hailing company said in a regulatory filing https://bit.ly/2SiLDZB on Tuesday.
Ford says second-quarter loss due to coronavirus to exceed $5 billion
Ford Motor Co on Tuesday posted a $2 billion first-quarter loss due to the impact of the coronavirus pandemic and said it expected its loss in the second quarter to more than double as it weathers a shutdown of its North American plants.
Wall Street down on flight from techs; move to value limits loss on Dow, S&P 500
Wall Street’s major indexes lost ground on Tuesday as investors moved out of market-leading growth stocks, though a rotation into cyclical value stocks indicated hopes of economic revival as states began to relax restrictions enacted to fight the deadl…
Starbucks expects comparable sales in China to plunge, shares fall
Starbucks Corp said on Tuesday it expects comparable sales in China to decline between 25% and 35% in the current third quarter, hurt by the coronavirus pandemic that has forced it to close stores and limit operations.
Health advisers to U.S. auto union say masks not enough to shield workers from coronavirus
As Detroit’s automakers seek to restart their U.S. plants during the coronavirus pandemic, two health experts advising Michigan’s governor and the United Auto Workers union warned against an over-reliance on masks and face shields to keep workers safe….
Ford posts $2 billion first-quarter loss due to coronavirus
Ford Motor Co on Tuesday posted a $2 billion first-quarter loss due to the impact of the coronavirus pandemic and said it expected its loss in the second quarter to more than double as it weathers a shutdown of its North American plants.
Google parent Alphabet quarterly revenue beats estimates
Google parent Alphabet Inc beat Wall Street estimates for first-quarter revenue on Tuesday, recording 13% growth even as companies drastically slashed spending during the coronavirus crisis.
Indexes drop as investors rotate from growth to value stocks
Wall Street’s major indexes lost ground on Tuesday as investors moved out of market-leading growth stocks, though a rotation into cyclical value stocks could point to hopes of economic revival as states begin to relax restrictions enacted to halt the c…
