Latest North America news
In a report on Thursday, 3M Co. (NYSE: MMM) said that its sales in April were noted 11% down to £1.88 billion as the Coronavirus pandemic pushed its factories into a temporary shutdown. While COVID-19 fuelled demand for face masks, the company added, it weighed on the rest of its product line that includes items like industrial glues. 3M fell roughly 2.5% in the stock market on Thursday in the morning session but recovered almost all of the loss...
SmileDirectClub (NASDAQ: SDC) reported a broader quarterly loss on Wednesday than what the experts had forecast. The company said that the Coronavirus pandemic pushed it into closing the majority of its global SmileShops. Going forward, SmileDirectClub added, it will focus on its business for dental impression kits. The Nashville-headquartered company was reported 3.5% down in after-hours trading on Wednesday. SmileDirectClub’s performance...
Restrictions on Amazon’s (NASDAQ: AMZN) business in France are not yet set to ease as the U.S online retailer said on Wednesday that its French warehouses are likely to remain closed until May 18th. Amazon’s six warehouses in France were shut down on April 16th on a court’s ruling that directed the company to limit its deliveries to essential items only during the Coronavirus pandemic. According to Amazon’s statement: “Our fulfilment centres are...
In a statement on Wednesday, Intel Capital announced to have made investments in two Chinese semiconductor startups. Intel Corp. (NASDAQ: INTC) is currently struggling with the ongoing tensions between the U.S and China in the sector of chip manufacturing. As per the sources, Intel Capital made its first investment in Chinese ProPlus that makes EDA software. The tool is widely used by the global chipmakers to design products before m...
United Airlines (NASDAQ: UAL) announced inside Brett Hart as the new president of the company on Monday. The airline said that Hart will take over the role from Scott Kirby on May 20th. Kirby, the company added, will now serve as the Chief Executive Officer succeeding Oscar Munoz amidst times of unparalleled crisis for United Airlines. The Chicago-based airline had already announced Kirby as the next CEO to succeed Oscar Munoz in December last ye...
AutoNation Inc. (NYSE: AN) released its quarterly performance results on Monday that topped analysts’ estimates for earnings and revenue. As states continue to ease Coronavirus restrictions, CEO Mike Jackson of AutoNation said, demand for cars and trucks is starting to recover in the United States. Following the release of the financial results, AutoNation was reported around 5.7% up in premarket trading on Monday. AutoNation’s Q1 financial resul...
AMC Entertainment Holding Inc. (NYSE: AMC) remained a focal point for analysts and investors alike in premarket trading on Monday as shares skyrocketed around 47% on Daily Mail’s announcement that Amazon Inc. (NASDAQ: AMZN) is interested in acquiring the U.S chain of movie theatres that has been struggling with finances for a few years. According to the Daily Mail’s report, AMC Entertainment, that is primarily known as the owner of Odeon Cinemas,...
Cardinal Health Inc. (NYSE: CAH) announced its third-quarter earnings report on Monday. Topping analysts’ estimates for earnings and revenue, the company was reported 7.7% up in premarket trading on Monday. The health services company reported a net income of £285 million in the third quarter that translates to 97 pence of earnings per share. In the same quarter last year, the company had recorded £241 million in net income or 80.5 pence of earni...
Under Armour (NYSE: UAA) released its quarterly financial results on Monday that reported a 23% decline in sales in the first quarter. The company attributed the downbeat performance to the Coronavirus pandemic that forced it into temporarily shutting down its stores and delaying the turnaround plans. Under Armour said that it plans on slashing its operating costs by £264 million in 2020 to cushion the economic blow from the health crisis. Some o...
According to CPCA (China Passenger Car Association), Tesla Inc. (NASDAQ: TSLA) sold a total of 3,635 Model 3 (Shanghai-manufactured) in China in April that marked a massive 64% decline as compared to March. The U.S electric car manufacturer, however, is known to report fewer sales in the 1st month as compared to the remaining 2 months of the quarter. As per the online briefing of the industry body, Tesla manufactured more than 10K units at its Sh...
The U.S Bureau of Labour Statistics announced the unemployment rate on Friday to have expanded to 14.7% in the United States in April that came in better than the expected 16.0%. The optimism of the report fuelled a roughly 1% increase in Wall Street. S&P 500 index weekly performance All major stock indices in the U.S pushed higher on Friday and were reported on track to record significant weekly gains. In the benchmark S&P 500 index, all...
Dropbox (NASDAQ: DBX) released its quarterly financial results on Thursday that topped analysts’ estimates for earnings and revenue. In February, the chief executive officer of Dropbox, Drew Houston, said that the company is aiming profitability by the end of 2020. Following the release of the earnings report, Dropbox was reported around 2% up in extended trading on Thursday. Dropbox’s Q1 financial results versus analysts’ estimates According to...
Tripadvisor Inc. (NASDAQ: TRIP) released its quarterly financial results on Thursday that showed the company to have swung to a loss in the first quarter as the Coronavirus brought the global travel and tourism industry to a near halt. In a bid to shore up finances and cushion the economic blow from COVID-19, Tripadvisor also furloughed 22% of its workers or 850 employees on Thursday. Tripadvisor dropped around 5% in after-hours trading on Thursd...
Roku Inc. (NASDAQ: ROKU) released its first-quarter earnings report on Thursday that topped the analysts’ estimate for revenue. The report offered an initial insight into the Coronavirus impact on the company’s financial performance as the pandemic pushed advertisers into slashing spending in recent months. Following Roku’s announcement that ad cancellations were greater than usual in Q1, the stock was reported around 10% down in extended trading...
Uber Technologies Inc. (NYSE: UBER) released its quarterly financial results on Thursday that resulted in an initial response of the company’s stock dropping slightly in extended trading. Following CEO Dara Khosrowshahi’s statement that ride volume is now starting to recover after hitting its lowest in mid-April, however, Uber jumped 10% in after-hours trading. The company closed the regular session with an 11% gain on Thursday. Uber’s net...
T-Mobile US Inc. (NASDAQ: TMUS) released its quarterly financial results on Wednesday that topped analysts’ estimate for earnings but fell short on the revenue front. In the regular session, the company dropped around 2.7% in the stock market but it was followed by a 1.3% recovery in extended trading. T-Mobile recorded its net income at £769 million in the first quarter that translates to 89 pence per share. In the same quarter last year, the com...
In its announcement on Thursday, Anheuser-Busch InBev (EBR:ABI) estimated a more pronounced hit to its Q2 financial performance as Coronavirus continues to restrict people to their homes. The company, however, said that customers are now slowly starting to return in China and South Korea as restaurants and some bars started resuming operations. In terms of drinks volumes, AB InBev reported a 46.5% decline in the first 3 months of the year....
JetBlue Airways (NASDAQ: JBLU) released its first-quarter earnings report on Thursday that posted a broader hit to revenue than what the experts had forecast. The company attributed its downbeat performance to the Coronavirus pandemic that brought the global travel and tourism industry to a near halt in March. JetBlue was reported around 0.3% down in premarket trading on Thursday. The company tanked 20.8% in total in five consecutive days through...
Peloton Inc. (NASDAQ: PTON) released its quarterly earnings report on Wednesday that posted a massive 66% year over year increase in its revenue in the fiscal third quarter. The company said that its live classes and fitness equipment were greatly in demand as the Coronavirus pandemic restricted people to their homes. The upbeat Q3 results also encouraged the company to upgrade its full-year sales guidance. As per CEO John Foley, the health crisi...
Lyft Inc. (NASDAQ: LYFT) released its quarterly financial results on Wednesday that showed an increase in riders despite the Coronavirus driven restrictions on travel and transport in the U.S and pushed the company’s stock 17% higher in extended trading. In the first quarter, the ride-hailing company saw a 3% annualized increase in active riders to 21.2 million. Much of the increase, however, was confined to early 2020 as CEO Logan Green highligh...
PayPal Holdings Inc. (NASDAQ: PYPL) posted a weaker than expected earnings report on Wednesday. The company attributed its downbeat performance to the Coronavirus pandemic that hit the hardest in March. In April, however, the company said that trends were already starting to recover. PayPal announced May 1st to have posted the highest transaction volume in the company’s history. Following the release of the financial report, PayPal was reported 8...
In a statement on Wednesday, the New York Times (NYSE: NYT) warned of a 50-55% decline (year over year) in advertising revenue in the second quarter as Coronavirus weighs on demand. In the first quarter, the company boasted 587K new digital subscriptions that marked the highest quarterly increase in digital subscriptions for the New York Times in history. Subscriptions make up roughly 70% of NY Times’ total revenue. Following the release of the...
American international venture capital firm Runa Capital has announced a successful third round of funding. Fund III exceeded its target of £110 million by over £17 million to close at about £127 million ($157 million). The start-up financier was established by a team of serial entrepreneurs to invest in software businesses around the globe. Among the new investors in the company include current and previous founders of Brainly, Final, Nginx, Roc...
CVS Health (NYSE: CVS) released its quarterly financial results on Wednesday that topped analysts’ estimates for earnings and revenue. The company attributed its upbeat performance to customers stockpiling prescription drugs and related essentials ahead of the Coronavirus lockdown. CVS, however, warned that the pandemic has fuelled a significant decline in foot traffic and weighed on the number of new prescriptions due to fewer doctor’s appointme...
In its announcement on Wednesday, Wendy’s (NASDAQ: WEN) said that its sales in the United States are slowly starting to recover from the COVID-19 driven hit to its business in the past months. The company saw a sharp decline in comparable-store sales in March and half of April. In the last week, however, its same-store sales were reported only 2.1% down. Following the announcement, Wendy’s was reported 6% up in premarket trading on Wednesday. Wen...