Latest North America news
In a statement on Friday, Apple Inc. (NASDAQ: AAPL) announced that it has decided in favour of temporarily closing some of its U.S. stores again in multiple locations including Arizona, Florida, and North and South Carolina. The company attributed the move to the rising Coronavirus cases in the United States. Apple’s announcement fuelled a sharp decline in Wall Street on Friday. Shares of the company are currently more than 1% down on Friday. At...
CarMax (NYSE: KMX) released its quarterly earnings report on Friday that topped analysts’ estimates for earnings and revenue. On a year over year basis, its earnings and revenue in the first quarter came in significantly lower due to the Coronavirus pandemic that pushed it into closing its stores and furloughing employees in recent months. Shares of the company are currently more than 3% down on Friday. At £76.45 per share, Carmax is roughly 6% y...
Amazon Inc. (NASDAQ: AMZN) said on Thursday that it plans on hiring 3,000 workers this year in South Africa to offer support to the retail giant’s customers in Europe and North America. Amazon also revealed on Thursday that it will be airing Premier League soccer matches on Twitch (live video streaming service) and Amazon Prime for free. Shares of the company ended almost flat on Thursday. At £2,133 per share, the Seattle-headquartered company is...
Carnival Corporation (NYSE: CCL) said on Thursday that its losses climb to a record £3.54 billion in the recent quarter. The company attributed its losses to the Coronavirus pandemic that weighed on demand and resulted in significant write-downs for the cruise operator. Shares of the company were reported about 6% down in premarket trading on Thursday. At £15 per share, Carnival Corp is roughly 65% down year to date in the stock market after reco...
Kroger (NYSE: KR) released its quarterly financial results on Thursday that posted a 19% increase (excluding fuel) in comparable-store sales in the fiscal first quarter. Experts, on the other hand, had expects it to see a much lower 13.8% growth in same-store sales in Q1. In April, Kroger said its same-store sales came in 30% up in March as customers stockpiled in preparation of COVID-19 restrictions. Shares of the company were almost 1% down in...
In an announcement on Wednesday, Southwest Airlines (NYSE: LUV) expressed confidence in its cash reserves that it said were sufficient to sustain business for two more years. In a previous forecast, the air carrier had estimated its cash to last for 20 months. Southwest remained dovish in its Q1 earnings report in late April. Shares of the company were reported marginally higher in premarket trading on Wednesday. At £28.75 per share, Southwest Ai...
Oracle Corporation (NYSE: ORCL) released its quarterly financial results on Tuesday that posted a 6% year over year decline in revenue. Shares of the company were reported about 5% down in after-hours trading on Tuesday. Zoom announced an agreement with Oracle to expand its cloud in late April. At £42.10 per share, Oracle is roughly 2% down year to date in the stock market after recovering from a low of £31.37 per share in March. Learn more about...
Royalty Pharma’s initial public offering (IPO) in the United States priced at the peak of the expected range and raised £1.73 billion on Monday. Royalty’s listing now marks the 2nd largest IPO in the pharmaceutical sector in history. Learn more about the basics of an IPO. The listing marks the latest in a streak of U.S. IPOs after months of inactivity due to the Coronavirus pandemic that has so far infected more than 2.1 million people in the Uni...
McDonald’s (NYSE: MCD) announced on Tuesday that in the first 2 months of its ongoing quarter, its global sales posted a 30% decline due to the Coronavirus pandemic that has restricted people to their homes. The American fast-food company, however, has now started reopening its worldwide locations for public and hinted at a slowly recovering demand. McDonald’s registered a 17% decline in its earnings in Q1. Shares of the company are current...
Lennar (NYSE: LEN) released its quarterly financial results on Monday that topped analysts’ estimates for earnings in the second quarter while the revenue came in line with the forecast. Shares of the company initially jumped about 3% in after-hours trading on Monday but later retreated to the price at which the stock closed the regular session. At £50.12 per share, Lennar is currently more than 10% up year to date in the stock market after recov...
Hertz Global Holdings (NYSE: HTZ) said on Monday that it plans on selling up to £400 million worth of new shares. The car rental company is seeking to benefit from an upward rally in its stock that started last month when it filed for Chapter 11 bankruptcy protection in the United States. The Florida-headquartered company acknowledged that its shares will eventually lose all value. The share sale, however, Hertz added, will benefit credito...
Nokia (EPA: NOKIA) has been committed to partnering with the U.S. chips manufacturers in recent months to expand its share in the upcoming 5G network. The Finnish telecommunications company had so far revealed deals with Marvell and Intel to develop chips that will be used in the 5G equipment. On Monday, Nokia announced its third partnership with Broadcom. Nokia released its Q1 financial results in late April that posted a 2% decline in its reven...
Top Commerzbank investor, Cerberus, recently criticized the bank’s leadership and strategy and demanded two seats on its supervisory board. In an announcement on Friday, however, Commerzbank (ETR: CBK) said that it had rejected Cerberus’ demands. Shares of the Frankfurt-headquartered bank posted a 4% intraday gain on Friday. At £3.73 per share, Commerzbank is currently more than 25% down year to date in the stock market after recovering from a lo...
Cineworld Group (LON: CINE) announced to have withdrawn from its merger deal with Cineplex Inc (TSE: CGX) on Friday. The cinema operator cited Cineplex’s breaches in the £1.32 billion merger agreement for abandoning the deal. Cineworld, however, did not divulge any further information about the nature of such violations. Shares of Cineworld posted an about 7% intraday gain on Friday. At 76.66 pence per share, the Brentford-headquartered company i...
Adobe Inc. (NASDAQ: ADBE) released its quarterly earnings report on Thursday that topped the analysts’ estimates for earning. The company said that its digital products were greatly in demand in the recent quarter as Coronavirus restricted people to their homes. Adobe recently brought photoshop camera to android and iOS. CEO Shantanu Narayen of Adobe commented on its report on Thursday and said: “The tectonic shift toward ‘all things digital’ acr...
Lululemon Athletica (NASDAQ: LULU) released its quarterly financial results on Thursday that posted a 17% decline in its sales in the fiscal first quarter. The company attributed the loss to the Coronavirus pandemic that temporarily closed its stores in recent months. Shares of the company were reported roughly 5% down in after-hours trading on Thursday. At £232 per share, Lululemon is a little under 30% down year to date in the stock market afte...
Exxon Mobil’s (NYSE: XOM) plans of selling its assets in the British North Sea were previously delayed due to the Coronavirus pandemic and a sharp slump in global oil prices. In an announcement on Thursday, however, industry sources highlighted that the U.S. oil major has now decided to restart the sale. The news comes a month after Exxon released its financial results for the first quarter. Shares of the company were reported about 3% dow...
In a statement on Thursday, Regeneron Pharmaceuticals (NASDAQ: REGN) said that it has started human trials of its candidate antibodies-based vaccine for COVID-19. Chief Scientific Officer George Yancopoulos also highlighted that the company is using an adaptive approach for human testing. The trial has, therefore, begun with dozens of patients and is likely to quickly reach thousands of participants in the upcoming weeks. Shares of the com...
Red Robin Gourmet Burgers (NASDAQ: RRGB) announced its loss to have widened more than expected in the first quarter on Wednesday. Shares of the company were reported about 7% down in premarket trading due to the downbeat financial results. The company attributed the decline to the ongoing Coronavirus pandemic that pushed its casual dining restaurants into temporarily shutting down in recent months. At £11.90 per share, Red Robin is currently more...
Starbucks (NASDAQ: SBUX) said on Wednesday that its revenue took a hit of about £2.50 billion due to the ongoing Coronavirus pandemic in the fiscal third quarter. Consequently, the company now expects to see a quarterly loss in Q3. Starbucks’ same-store sales slumped 10% in Q2. At £64.75 per share, Starbucks is currently more than 5% down year to date in the stock market after recovering from a low of £44.08 per share in March. It has a market ca...
Tiffany & Co. (NYSE: TIF) released its quarterly financial results on Tuesday that posted a massive 44% decline in comparable-store sales in the fiscal first quarter. The company attributed the decline to the Coronavirus pandemic that pushed its stores into temporarily shutting down in Q1. Tiffany had also missed analysts’ estimates Shares of the company were reported less than 1% down in premarket trading on Tuesday. At £95.48 per share, Tif...
Stitch Fix (NASDAQ: SFIX) released its quarterly financial results on Monday that reported a wider than expected net loss in the fiscal third quarter. The company attributed its downbeat performance to the Coronavirus pandemic that disrupted its supply chain and backlogged orders. Stitch Fix laid off 1,400 employees last week. As COVID-19 pushed the company into shutting down some of its buildings, its warehouse capacity in the United States redu...
Pacific Gas and Electric Company (NYSE: PCG) filed for Chapter 11 bankruptcy in the United States in 2019. In an announcement on Monday, the power provider said that it now seeks to raise £4.54 billion in new equity via public offerings in a bid to exit bankruptcy. The announcement fuelled a 12.5% decline in the shares of the company in premarket trading on Monday. Despite the financial struggles, PG&E is still roughly 20% up year to date in...
In an announcement on Friday, Bombardier (TSE: BBD.B) said that it plans on slashing 2,500 jobs representing about 11% of the company’s aviation workforce in a bid to cushion the economic impact from the Coronavirus pandemic that has brought the global travel and tourism industry to a near halt. Shares of the company are currently about 1% up on Friday. At 28 pence per share, Bombardier is roughly 75% down year to date in the stock market. Learn...
Broadcom Inc. (NASDAQ: AVGO) released its quarterly earnings report on Thursday that slightly topped analysts’ estimate for revenue. In January, Broadcom sold Symantec cybersecurity services to Accenture. Broadcom’s president, Hock Tan, commented on the financial results on Thursday and said: “Second-quarter results were in line with out expectations, and saw limited impact from the effects of COVID-19. Looking ahead, our third-quarter guidance f...