USA news
- Coty Inc. names its chairman Peter Harf as the new CEO replacing Pierre Laubies.
- The beauty company sells its stake in retail hair business to KKR private equity firm.
- The American multinational is about 65% down year to date in the stock market.
Latest USA news
In a statement on Wednesday, Papa John’s (NASDAQ: PZZA) said that its estimated North American same-store sales climbed 33.5% in May. Internationally, it reported a 7% estimated increase in comparable sales as it committed to meeting higher demand amidst the ongoing pandemic. Shares of the company were reported about 7% up in premarket trading on Wednesday. In April, Papa John’s had announced a 26.9% increase in its preliminary estimated North Am...
Novavax (NASDAQ: NVAX) said on Tuesday that it began human trials of its candidate Coronavirus vaccine in Australia. The company said that initial results of the human trial are expected to be released in July 2020. If proven effective, the trials will be expanded to the U.S. According to research chief, Dr Gregory Glenn of Novavax, the 1st phase trial will include 131 volunteers and will be targeted at studying the safety and effectiveness of th...
Merck & Co Inc. (NYSE: MRK) announced on Tuesday that it plans on buying Themis Bioscience. The Austrian vaccine manufacturer proposed a drug candidate earlier this year as the potential cure for COVID-19. The candidate vaccine is now approaching human trials. Merck also said that it will be collaborating with IAVI. The non-profit vaccine researcher is working on developing 2 other vaccines for COVID-19. Merck’s commitment toward...
In its announcement on Friday, Hertz Global Holdings Inc. (NYSE: HTZ) said it filed for bankruptcy as the Coronavirus pandemic weighed on demand and it failed to receive the required financial support from its creditors. Having operated for over a century, the car rental company filed for Chapter 11 protection in a Delaware court. It did not include its international operations in Australia, Europe, and New Zealand in its U.S. claim.  ...
Nvidia (NASDAQ: NVDA) released its quarterly financial results on Wednesday that topped the analysts’ estimates for earnings and revenue in the first quarter. Despite the upbeat performance, shares of the company were reported about 1% down in extended trading on Wednesday. The regular session closed with a 2% intraday loss for Nvidia in the stock market on Wednesday. Nvidia earnings report came only a week after its stock hit an all-time high af...
Expedia (NASDAQ: EXPE) released its quarterly earnings report on Wednesday that showed the Coronavirus pandemic having weighed on its financial performance in the first quarter. The company said that early signs of recovery are starting to show in May, but it will take time for performance to return to pre-virus levels. Shares of the company were reported 4.5% up in extended trading on Wednesday. At £67.9 per share, Expedia is roughly 25% down ye...
Best Buy (NYSE: BBY) released its quarterly financial results on Thursday that posted a decline in earnings and revenue in Q1. The company said that sales were upbeat initially as customers rushed to shop ahead of the Coronavirus lockdown. Later on, however, its financial performance took a hit as the pandemic pushed its stores into temporarily shutting down. Best Buy also suspended in-home repairs or installations amidst the pandemi...
In an announcement on Thursday, Evotec (ETR: EVT) said that it has acquired the U.S-based biologics company Just Biotherapeutics. The U.S. company is financially backed by the Gates Foundation. As per the sources, Evotec is investing £73.59 million on the acquisition to boost its presence in the biologics industry. Learn more about return on assets (ROA). The news comes only weeks after Evotec released its quarterly financial results that posted...
Lowe’s (NYSE: LOW) released its quarterly earnings report on Wednesday that posted stronger than expected earnings and revenue. The company also withdrew its full-year guidance for 2020 on rising Coronavirus uncertainty. The pandemic, Lowe’s added, increased its expenses by £203.57 million including a special bonus for full-time employees. Shares of the company were reported roughly 6% up in premarket trading on Wednesday. At £94.90 per share, th...
Target (NYSE: TGT) released its quarterly financial results on Wednesday that showed a sharp increase in digital sales in the first quarter. Sales of apparel and other high-margin items, however, came in lower than expected with increased labour costs having further weighed on its performance. Shares of Target were reported less than 1% up in premarket trading on Friday. At £100.62 per share, the company is roughly 2% down year to date in the sto...
British pharmaceutical company, AstraZeneca (LON: AZN) collaborated with the U.S-based Merck & Co. (NYSE: MRK) on Lynparza drug as a treatment option for prostate cancer. On Wednesday, the two companies gave a joint statement that Lynparza received approval from the United States Food and Drug Administration (FDA). According to the FDA, Lynparza is now authorised to be used to treat a form of prostate cancer that is known to not respond to th...
Home Depot (NYSE: HD) released its quarterly earnings report on Tuesday that posted higher costs attributed to the Coronavirus pandemic. Sales, on the other hand, saw a sharp increase in the first quarter. Shares of the company were reported about 2% down in premarket trading on Tuesday. At £201 per share, Home Depot is currently 12% up year to date in the stock market. Learn more about how to invest in stocks. Home Depot’s Q1 financial results v...
Kohl’s (NYSE: KSS) released its quarterly financial results on Tuesday that posted a 43.5% decline in net sales in Q1. The company attributed the downbeat performance to the Coronavirus pandemic that forced its stores into temporarily shutting down. Shares of the company initially responded with a 3% decline in premarket trading on Tuesday followed by a 1% increase later on. Learn more about how to buy shares online in 2020. Kohl’s Q1 financial r...
In its announcement on Monday, Vroom said that it has filed for an initial public offering (IPO) in the United States. The online platform to buy and sell used cars is planning to go public at a time when COVID-19 restrictions have fuelled an increase in consumer spending on e-commerce platforms. Founded in August 2013, Vroom is planning its initial public offering after almost seven years of successful operations in the U.S. The company said it...
The Wall Street Journal revealed on Monday that SoftBank Group Corp. (TYO: 9984) is negotiating with Deutsche Telekom AG (ETR: DTE) to sell a sizeable chunk of its investment in T-Mobile U.S. Deutsche Telekom currently has a controlling stake in the American wireless network operator. As per the newspaper, following the agreement, Deutsche Telekom’s investment in T-Mobile U.S will expand by 50%. In April, T-Mobile also finalised its merger with...
A regulatory filing on Friday revealed Berkshire Hathaway (NYSE:BRK.B) to have slashed its investment in Goldman Sachs by 84% in the first quarter. At the start of Q1, Warren Buffett’s company had 12 million shares of Goldman Sachs. The SEC filing, however, announced its stake in the U.S investment bank at 1.9 million shares at the end of the first quarter. Goldman Sachs saw its stock plunge roughly 30% in Q1 as the Coronavirus pandemic weighed o...
The U.S Commerce Department announced an adjustment to its export policy that strategically targeted China’s telecoms giant, Huawei Technologies Co Ltd. The White House is exercising its authority on global chipmakers that use U.S technology to get a license to sell semiconductors to Huawei. As per the new rule, such companies are now banned from supplying semiconductor chips to Huawei. A senior official of the Commerce Department commented on th...