Latest North America news
Texas Instruments Inc. (NASDAQ: TXN) climbed 3% in after-hours trading on Tuesday as the chipmaker posted stronger than expected financial results for the first quarter. The company also gave Q2 guidance that came in the range of consensus forecasts. In the regular session, Texas Instruments had declined roughly 4.2%. The company’s net income in the first quarter was recorded at £950 million that translates to £1.0 per share as...
Lockheed Martin Corporation (NYSE: LMT) said on Tuesday that its quarterly profit came out stronger than expected. The American company attributed the success to its aeronautics business that reported upbeat sales in the first quarter. Lockheed Martin is widely known as the maker of F-35 fighter jets. The Bethesda-headquartered aerospace and defence company cited the economic blow from the Coronavirus pandemic as it slashed its guidance for 2020....
Equifax Inc. (NYSE: EFX) released its quarterly financial results on Monday that topped analysts’ estimates for earnings and revenue. The upbeat earnings report pushed the stock 4.1% higher in after-hours trading on Monday. At £91.45 million, Equifax’s net income (75 pence per share) in the first quarter came out significantly stronger than £451.42 million net loss (£3.71 per share) that was recorded in the same quar...
J.M. Smucker (NYSE: SJM) gave a stronger than expected guidance for its annual profit and sales on Monday. The company cited a surge in demand for its packaged foods including Jif peanut butter as consumers continue to stockpile amidst the Coronavirus pandemic for the upbeat guidance. The rising uncertainty ascribed to COVID-19 and strict social distancing measures have increased sales for retailers and consumer goods companies as demand for esse...
As the Coronavirus pandemic brings travel and tourism to a near halt, the global airline industry is faced with an unprecedented financial challenge. In a statement on Monday, United Airlines (NASDAQ: UAL) recorded a massive £1.69 billion quarterly loss (preliminary). The U.S carrier also highlighted to have submitted an application for a £3.62 billion loan under the United States’ government’s CARES (Coronavirus Air Relie...
Halliburton Co. (NYSE: HAL) released its quarterly financial results on Monday. The U.S oil and gas company printed £820 million (93 pence per share) in a net loss in the first quarter that came out significantly lower than £122 million (14 pence per share) in profit that it recorded in the same quarter last year. According to Halliburton, the downbeat performance was largely attributed to the unprecedented drop in global oil prices a...
Sources informed on Monday that Neiman Marcus Group is expected to file for bankruptcy protection later this week. Neiman, the sourced added, will be the 1st major department store operator in the United States to lose the battle against the economic blow from the Coronavirus pandemic. The health crisis has pushed the debt-laden chain of luxury department stores into temporarily closing all 43 of its countrywide locations, two of its New York-bas...
The battle of the U.S tech giants is not a new one for the business world. In recent development, Facebook (NASDAQ: FB) announced on Sunday that it will launch its gaming mobile application sooner than originally planned to pose a serious competition to Microsoft’s Mixer services, Google’s Youtube, and Amazon’s Twitch. Facebook had initially planned on rolling out the application that focuses primarily on live game streaming in...
Amazon (NASDAQ: AMZN) employees said on Saturday that the online retail giant has started installing thermal cameras at its U.S warehouses to automate and speed-up the process of screening its workers. The cameras will help identify the workers with feverish symptoms who maybe infected with COVID-19. Amazon had previously resorted to forehead thermometers to screen its warehouse workers. Offering an instant insight into a worker’s body temp...
As consumers continue to stockpile household essentials and groceries amidst the ongoing Coronavirus pandemic, Walmart Inc. (NYSE: WMT) cited a sharp increase in demand at its clubs, stores, and distribution centres. The American multinational retail corporation said it will hire another 50,000 workers to cope up with the demand. Walmart had previously set a target of hiring 150,000 workers in March that, as per the retailer, has been hit sooner...
With Coronavirus rapidly taking the world under its grip, several healthcare companies from across the globe are working committedly to test vaccine candidates and develop an effective vaccine against the flu-like virus. On Thursday, Moderna Inc. (NASDAQ: MRNA) said that the Biomedical Advanced Research and Development Authority (BARDA) awarded £387 million in grant to the company to ramp-up the development of its prospect vaccine for COVID...
Schlumberger (NYSE: SLB) said on Friday that its adjusted profit in the first quarter came out stronger than the analysts’ forecast. The oil service company, however, missed revenue estimates in the recent quarter. Despite recording a huge net loss in Q1, the company was reported 6.8% higher in premarket trading on Friday. Schlumberger also resorted to cutting its quarterly dividend to preserve cash. The Houston-headquartered company printe...
Procter & Gamble (NYSE: PG) released its quarterly financial results on Friday that posted a 10% increase in sales in the United States as consumers stockpiled essential items ahead of the Coronavirus restrictions. The American multinational consumer goods corporation, however, cut its financial guidance for 2020 citing the impact of foreign currency. Procter & Gamble was reported less than 1% up in premarket trading on Friday. P&a...
As the Coronavirus pandemic weighed heavily on travel and tourism and subsequently on the global airline industry, Boeing (NYSE: BA) had decided in favour of suspending production at all of its major facilities in the United States in late March. In an announcement on Thursday, however, the largest U.S airplane manufacturer said that roughly 27,000 of its workers will return to work on April 20th as it resumes production of commercial airplanes i...
Gilead Sciences Inc. (NASDAQ: GILD) started human trials of its prospect antiviral, Remdesivir, recently in critical cases of COVID-19. As per a media report on Thursday, patients were reported to have been responding well to the experimental drug. Following the report, Gilead was seen 16% up in extended trading on Thursday. University of Chicago Hospital Reports Rapid Recoveries In Response To Remdesivir Gilead had partnered with a hospital affi...
Bank of New York Mellon Corp. (NYSE:BK) said on Thursday that its quarterly profit came out stronger than expected. The American worldwide banking company attributed the increase to higher fee revenue as Coronavirus pandemic stirred volatility in the financial markets. At £760 million, the bank’s net income was reported higher than £732 million that was recorded in the same quarter last year. The financial services compan...
Owing to the rising uncertainty due to the Coronavirus pandemic, numberless businesses from across the globe have recently resorted to suspending or cutting dividend payments to preserve cash. In its statement on Wednesday, however, Costco Wholesale Corp. (NASDAQ:COST) went against the trend and announced an increase in the quarterly dividend. Costco To Pay 56 Pence Per Share In Quarterly Dividend Costco said that it will now pay a quarterly divi...
Abbott Laboratories (NYSE:ABT) said on Thursday that its profit in the first quarter declined by 16%. The American medical devices and healthcare company attributed the decline primarily to a tax expense. Owing to the rising Coronavirus uncertainty, the company also suspended its financial guidance for the full-year on Thursday. Following the announcement, Abbott was reported around 1.5% up in premarket trading on Thursday. At the time of writing...
Morgan Stanley (NYSE:MS) released its quarterly earnings report on Thursday that missed analysts’ estimates for earnings and revenue. The American multinational investment bank also said that support from upbeat trading results may prove to be short-lived as the ongoing Coronavirus continues to weigh on performance. Morgan Stanley was reported less than 2% down in premarket trading on Thursday. The health crisis, the investment bank added,...
The Coronavirus pandemic has weighed heavily on asset managers. On Thursday, BlackRock (NYSE:BLK) said that it saw a massive 23% decline in its quarterly profit. The largest asset manager across the globe attributed the decrease to rising costs as COVID-19 hit the global economy hard and pushed investors into preferring cash management services. Investors added a total of £28 billion of new money in the first quarter that marked an around 5...
Bed Bath & Beyond (NASDAQ:BBBY) released its quarterly financial results on Wednesday. Beating analysts’ estimates for earnings and revenue in the fourth quarter, Bed Bath & Beyond jumped around 15% in after-hours trading on Wednesday. In the regular session, the stock had dropped around 17% on Wednesday. The American chain of domestic merchandise retail stores, however, cited the rising uncertainty of the Coronavirus pandemic and s...
In a statement on Wednesday, Pentagon’s inspector general said that White House officials offered limited cooperation in its investigation of whether or not the Presidential Mansion influenced Pentagon’s decision of awarding its £8 billion JEDI contract to Microsoft instead of Amazon (NASDAQ:AMZN). Due to the lack of cooperation, the office of the inspector general added, it could not completely evaluate the allegations against...
Berkshire Hathaway (NYSE:BRKa) said on Wednesday that it will accept Occidental Petroleum’s (NYSE:OXY) common shares as payment for the quarterly dividend. The agreement is expected to ease the pressure on the U.S oil major’s balance sheet. Wednesday’s regulatory filing also highlighted that Berkshire will have the authority to sell the shares immediately. The American multinational conglomerate, however, didn’t divulge it...
UnitedHealth (NYSE:UNH) recorded a stronger than expected quarterly profit on Wednesday. The company attributed the success to an upbeat performance from multiple businesses and said that it will keep its financial guidance for 2020. The largest health insurer in the United States further added that it is meticulously evaluating the impact of the ongoing Coronavirus pandemic. In premarket trading on Wednesday, UNH was reported trading 2.6% up at...
Bank of America (NYSE:BAC) released its financial results for the first quarter on Wednesday that missed analysts’ estimates for earnings and revenue. Following the earnings report, the Bank of America was reported around 7% down in premarket trading on Wednesday. BoA’s Financial Results Versus Analysts’ Estimates According to Refinitiv, experts had forecast the Bank of America to print £18.33 billion in revenue in the fir...