Fed Ex change of hours and Social Distancing signage due to the COVID-19 coronavirus pandemic on March 22, 2020 in New York City. Bill Tompkins | Getty Images FedEx, citing the devastating impact of Covid-19, requested that its rent be cut in half at some FedEx Office locations for three months, a move sharply criticized
Month: April 2020
In this photo illustration the American biotechnology company Gilead Sciences logo seen displayed on a smartphone with a computer model of the COVID-19 coronavirus on the background. Budrul Chukrut | SOPA Images | Getty Images The Food and Drug Administration has been in “sustained and ongoing” discussions with Gilead Sciences to make antiviral drug remdesivir
A Prime Air cargo plane, operated by Amazon.com Inc., sits on display with other passenger jets during the 53rd International Paris Air Show at Le Bourget, in Paris, France. Jason Alden | Bloomberg | Getty Images As millions of would-be travelers stay home because of the coronavirus pandemic, one airline has found an eager customer: Amazon.
Steve Mollenkopf, chief executive officer of Qualcomm Inc. Patrick T. Fallon | Bloomberg | Getty Images Qualcomm reported second-quarter earnings after the bell on Wednesday. The stock was up more than 3% after hours, in addition to a nearly 5% rise during trading on Wednesday. Here’s how it did: EPS: $0.88 Revenue: $5.21 billion Wall
Facebook shares rose as much as 10% in after-hours trading on Wednesday after the company announced its first-quarter results. Earnings (EPS): $1.71 Revenue: $17.74 billion Daily active users (DAUs): 1.73 billion Monthly active users (MAUs): 2.6 billion Average revenue per user (ARPU): $6.95 Analysts surveyed by Refinitiv expect $1.75 in earnings per share and $17.41
Elon Musk, chief executive officer of Tesla Inc., speaks during a ceremony at the company’s Gigafactory in Shanghai, China, on Tuesday, Jan. 7, 2020. Qilai Shen | Bloomberg | Getty Images Tesla shares rose more than 7% after hours as the company showed its third consecutive quarter with a profit. Here’s how the company did:
Microsoft CEO Satya Nadella Tobias Schwarz | AFP | Getty Images Microsoft shares rose 2% in extended trading on Wednesday after the company reported fiscal third-quarter sales growth of 15%, fueled by its cloud business. The company said in a statement that the coronavirus “had minimal net impact on the total company revenue” in the
The Federal Reserve painted a dour picture of current conditions and pledged Wednesday to continue its historically aggressive policy stance until it is comfortable that the U.S. economy is back on its feet. Following this week’s Federal Open Market Committee meeting, the central bank said it would maintain its current interest rate target between 0%
This is Wednesday’s Federal Open Market Committee statement after the latest Fed meeting. Given the unprecedented circumstances brought on by the coronavirus crisis, as well as the Fed’s extensive actions to mitigate the pandemic, the central bank has issued statements with more frequency and variance than typical. The Fed issued three statements in March alone.
[The stream is slated to start at 2:30 pm ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell was scheduled to meet with the press via teleconference Wednesday afternoon following the Federal Open Market Committee meeting. The Fed just kept its benchmark interest
Federal Reserve chairman Jerome Powell said more stimulus is needed to ensure a robust economic recovery from the coronavirus crisis. “It may well be the case that the economy will need more support from all of us if the recovery is to be a robust one,” Powell said in a virtual press conference on Wednesday following the
Balancing the demands of office life and home life can be overwhelming for any working parent. But with women spending a disproportionate amount of time handling housework and childcare responsibilities, data from Pew Research Center shows that women are more likely than men to adjust their careers for family. As the coronavirus pandemic continues to
As the coronavirus pandemic has upended lives around the world, office professionals who’ve been sent to work from home for the foreseeable future have adjusted to a new way of living and working. For many, coworkers offer support and connection when it’s never been more crucial to make sense of stressful times. If there’s a
Although it may seem as though every health care worker is on the front lines fighting Covid-19, many medical professionals are at home waiting to get back to work like millions of other Americans. That’s because many hospitals and health systems have suspended elective services and procedures during the shutdown. Over 200 facilities around the country
We each have our own different challenges to deal with, but if there’s one thing we can all agree with, it’s that there’s never been a more urgent need for laughter, inspiration and escapism. Luckily, we have podcasts to keep us informed — but not to an excessive degree — about the coronavirus pandemic, while also
CNBC’s Jim Cramer on Monday doubled down on his preference for stock picking over index investing. The former hedge fund manager presented a list of market bright spots that span more than one dozen industries he said are working in this coronavirus-plagued market. “You want to remember this list the next time the market rolls
Investors should look to sectors that lately have been “completely eviscerated” as the U.S. economy seeks to recover from the coronavirus crisis, Morgan Stanley’s Mike Wilson told CNBC on Tuesday. “We’re bullish overall, and we just think there’s more upside in potentially some of the laggard areas,” Wilson said on “Fast Money.” “That’s not saying anything bad
General Electric reported Wednesday a steep declines in first-quarter revenue and earnings as the industrial giant took a hit amid the coronavirus pandemic. The company posted a total revenue of $20.524 billion, which represents a year-over-year decline of 8%. GE Industrial profits fell 46% year over year to $1.096 billion from $2.017 billion. On an
Jim Cramer Scott Mlyn | CNBC CNBC’s Jim Cramer said Wednesday that positive news from Gilead Sciences about a potential treatment for the coronavirus marked a turning point in the fight against Covid-19. “What I regard this as is the beginning of the end of the true nightmare, which is that it’s a death sentence,” Cramer said on
Getty Images If you received a stimulus check for a deceased relative, you should think twice before spending that money. Treasury Secretary Steve Mnuchin told The Wall Street Journal that he expects families who receive those checks to return the money. “You’re not supposed to keep that payment,” Mnuchin told the paper. “We’re checking the
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