2020-08-11@06:06:43 GMT
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second quarter:

    COVID-19 pandemic has caused us to rethink many parts of daily existence, such as our health, jobs, where we live, our financial future, education, travel and the simple handshake. But according to data released Tuesday, many savers are still financially on the path to retirement. The combination of a stronger market, pandemic-related stimulus opportunities and steady, disciplined investing in the second quarter, gave Fidelity Investments cause for optimism. The firm, which publishes its analyses on investors and employers’ retirement trends every quarter, found double-digit increases in 401(k) plans and individual retirement accounts. Read: COVID-19’s next threat to your 401(k) The firm also said 11% of employers reduced or eliminated their employer matches to retirement plans, and about a third...
    A woman jogs past a cordoned off Merlion Park on June 12, 2020 in Singapore.Suhaimi Abdullah | Getty Images Singapore's economy contracted by 42.9% in the second quarter of 2020 compared to the previous quarter — sending the Southeast Asian country into a technical recession, the Ministry of Trade and Industry said on Tuesday. The latest update on Singapore's gross domestic product was worse than the official advance estimate released last month. The estimate, computed largely from data in April and May, had shown the economy shrinking by 41.2% in the second quarter compared to the prior three months.  On a year-on-year basis, the economy shrank by 13.2% in the quarter ended June 30, according to the ministry. That's worse...
    Devin Booker’s three from half court was so perfect, the net barely moved Dermatologists Say These Are the *Best* Face Washes for Acne-Prone Skin Dow, S&P 500 book 7th straight day of gains, Nasdaq ends lower as high-flying tech stocks take a breather MARKET SNAPSHOT © Getty Images The New York Stock Exchange. The S&P 500 booked its longest stretch of gains in about 16 months Monday, as investors monitored signs that a long-awaited rotation on Wall Street into more economically sensitive cyclical stocks could be brewing, but at the expense of their high-flying counterparts. Load Error Investors also focused on the significance of President Donald Trump’s weekend signing of executive orders extending some elements of coronavirus relief....
    LAKE BUENA VISTA, Fla. (AP) — Devin Booker scored 35 points, and the Phoenix Suns rolled past the short-handed Oklahoma City Thunder 128-101 on Monday to improve to 6-0 in the restart and improve their playoff chances. The Suns have surged in the Western Conference standings. They entered the day just 1 1/2 games behind eighth-place Memphis and a game behind ninth-place Portland in the race to qualify for a spot in the play-in series. Phoenix center Deandre Ayton sat out the first quarter because he missed his coronavirus test on Sunday. He tested negative on Monday and was cleared. With Ayton out, Oklahoma City led 37-23 at the end of the first quarter. Ayton entered the game at the...
    AP Interview: Rodchenkov lives in fear after exposing doping 20 Outdoor Christmas Lights That Will Make Your Season Merry and Bright Dow up 350 points in final hour of trade, Nasdaq under pressure as highflying tech stocks take a breather MARKET SNAPSHOT © Getty Images The New York Stock Exchange. Getty Images. Stock-market benchmarks were mostly higher on Monday as investors monitored signs that a long-awaited rotation on Wall Street into more economically sensitive cyclical stocks could be brewing, but at the expense of their highflying counterparts. Load Error Investors also focused on the significance of President Donald Trump’s weekend signing of executive orders extending some elements of coronavirus relief. The measures face likely legal hurdles and questions...
    While Marriott International Inc. (NASDAQ: MAR) saw its worst earnings performance in the company’s nearly 100-year history during the second quarter, vastly improved occupancy and demand in China slightly buoyed what were dismal systemwide revenue numbers. Marriott CEO Arne Sorenson told investors during an Aug. 10 call that he believes the worst of the pandemic is behind the company, although he could not say if 2019 demand levels would return in 2021. In the second quarter, the Bethesda hospitality giant posted revenue of $1.46 billion, down 72% from the $5.3 billion it earned in the same quarter of 2019. It ended the quarter with a net loss of $234 million, compared to net income of $232 million in...
    100 arrested, 13 officers injured in Chicago after police shoot man Life with coronavirus: How businesses are turning to tech to cope with COVID-19 Dow jumps 300 points, Nasdaq under pressure as investors state rotation from out of tech-related stocks MARKET SNAPSHOT © Getty Images The New York Stock Exchange. Getty Images. Stock-market benchmarks were mostly higher on Monday as investors monitored signs that a long-awaited rotation on Wall Street into more economically sensitive cyclical stocks could be brewing, but at the expense of their highflying counterparts. Load Error Investors also focused the significance of President Donald Trump’s weekend signing of executive orders extending some elements of coronavirus relief. The measures face likely legal hurdles and questions about...
    Leipzig boss Nagelsmann unfazed by Atletico virus cases These Dazzling New Watches Capture the Beauty of Underwater Life Dow up 250 points at midday, Nasdaq under pressure as investors extend rotation into cyclical stocks MARKET SNAPSHOT © Getty Images Stock-market benchmarks were mostly higher on Monday as investors monitored signs that a long awaited rotation on Wall Street into more growth-sensitive cyclical stocks could be brewing, at the expense of their high-growth counterparts. Load Error Investors focused also on President Donald Trump’s weekend signing of executive orders that aim to extend some elements of coronavirus relief. The measures face likely legal hurdles and questions about their effectiveness, however, while continued U.S.-China tensions might also cap upside for the...
    Royal Caribbean Group reported a wider-than-expected quarterly loss on Monday as the cruise operator suffered from a coronavirus-driven halt to sailings that is now on course to last deep into the second half of 2020. The company’s shares, which have lost over 60 percent of their value this year, rose 10 percent in midday trading as revenue beat expectations. Royal Caribbean, which dropped “Cruises” from its corporate name last month, expects to burn $250 million to $290 million of cash on average per month, while its operations are suspended during one of the industry’s worst periods in history. Royal Caribbean, which has pledged dozens of ships to raise billions of dollars of new debt, said it had about $4.1...
    Fact check: U.S. GDP drop in 2020s second quarter is the worst in modern history Dollar Tree, Family Dollar reverse decision to require masks at all stores, but request customers wear them Liberty Media Swings to Second-Quarter Loss Amid Pandemic © Scott Olson/Getty Images Liberty Media, the company controlled by billionaire mogul John Malone that houses assets like audio entertainment giant SiriusXM, the Atlanta Braves baseball club and the Formula One racing circuit, on Monday reported second-quarter financials as the novel coronavirus pandemic delayed events in its sports operations. The Fast And Easy Way To Put Floodlights Anywhere LEARN MORE Ad Lumiguard Liberty Media posted a loss attributable to its stockholders of $326 million, compared with a year-ago profit...
    Nearly 100k children got COVID-19 in last two weeks of July Dollar Tree, Family Dollar reverse decision to require masks at all stores, but request customers wear them Marriott Swings to Quarterly Loss With Global Travel Frozen (Bloomberg) -- Marriott International Inc. swung to a loss as travel bans and social-distancing efforts weighed heavily on the company’s second-quarter results. © Bloomberg Signage is displayed in front of a Marriott International Inc. hotel in Beverly Hills, California, U.S., on Wednesday, July 31, 2019. Marriott released earnings figures on August 5. Marriott reported an adjusted loss per share of 64 cents, worse than the average analyst estimate of 42 cents. It was the first quarterly loss for the company since 2011.Revenue...
    Warren Buffett, Chairman and CEO of Berkshire Hathaway.David A. Grogan | CNBC Berkshire Hathaway stock rose in premarket trading Monday after the conglomerate announced over the weekend that it purchased a record amount of its own equity in the second quarter. Berkshire, led by Chairman and CEO Warren Buffett, said it repurchased $5.1 billion worth in stock in May and June, split between $4.6 billion of Class B equity and $486.6 million in Class A equity. Shares of Berkshire's Class B stock gained 0.9% before the bell following news of the record buybacks. The second-quarter buybacks were nearly double the $2.2 billion the conglomerate spent to buy back equity in the final quarter of 2019 and exceeds the entire value...
    The benefit of the Saudi state oil group Aramco plummeted 73% in the second quarter of the year, as the drop in energy demand and prices Due to the coronavirus crisis, it affected the sales of the world’s largest oil exporter. Between April and June, it achieved a net profit of $ 6.6 billion, compared to the 24,700 million dollars it obtained in the same period of the previous year. All the big oil companies have suffered in the second quarter, as lockdowns to contain the coronavirus limited travel, reducing oil consumption and causing prices will fall to levels not seen in almost two decades. Aramco, which went public in Riyadh last year for a record $ 29.4 billion, said...
    Riyadh, Aug 9 (EFE) .- The net profit of the Saudi state oil company Aramco sank in the second quarter of the year by 73%, reaching 6,600 million dollars, due to the effects of the precious crisis between Saudis and Russians and the slowdown in global production due to COVID-19. The quarterly profit contrasts with the same period of the previous year, when it obtained about 24,700 million dollars and some credit agencies ranked it as the company with the highest profits in the world. In the first half of 2020, the oil giant achieved a net profit of 23.2 billion dollars, 49.5% less than the 46.9 billion it had in the first six months of 2019, the company reported...
    Football : Despite the victory against Naples, synonymous with qualification for the quarter-finals of the Champions League, Lionel Messi was not happy and even refused to “check” the hand of referee Cuneyt Cakir, at the final whistle . Once more, Lionel messi shone. This Saturday, the Argentinian FC Barcelona literally led his team to victory, with a key 3-1 home success against Napoli. Author of a splendid goal, the Pulga was then refused a second achievement, following a hand raised by the VAR. A quarter of an hour later, the video intervention again, this time for a fairly obvious fault by Kalidou Koulibaly on the same Messi. An action that the central referee, Mr. Cuneyt Cakir, took nearly...
    OLE GUNNAR SOLSKJAER and his Manchester United team have taken off for Cologne in their pursuit of Europa League glory. The squad posed for a group photo in their masks on the steps to the aeroplane before boarding at Manchester Airport on Sunday. 9Manchester United's squad flew to Germany on Sunday and posed for a group photo, complete with masks and gloves, before boardingCredit: Getty Images - Getty 9Paul Pogba was looked typically relaxed as he posed for a snap in his seat for the flightCredit: Getty Images - Getty Then plenty of the players were snapped once they had taken their seats on board. The next stop for the Red Devils is Germany. And they hope to be...
    An offshore drilling platform stands in shallow waters at the Manifa offshore oilfield, operated by Saudi Aramco, in Manifa, Saudi Arabia.Simon Dawson | Bloomberg | Getty Images Oil giant Saudi Aramco has reported a 50% fall in net income for the first half of its financial year, reflecting a devastating year for oil markets and the global economy at large as the world continues to battle the coronavirus pandemic.  In a release published Sunday, the company said net income plunged to $23.2 billion in the first six months of the year, down by half from $46.9 billion over the same period in 2019. Saudi Arabia's majority state-owned oil company and the world's largest crude producer also maintained its second-quarter dividend...
    DUBAI (Reuters) - Saudi Arabian state oil group Aramco on Sunday reported a 73.4% fall in second-quarter net profit, a steeper drop than analysts had expected, hit by lower crude oil prices and declining refining and chemicals margins, as the coronavirus hit demand. Net profit fell to 24.6 billion riyals ($6.57 billion) for the quarter to June 30 from 92.6 billion riyals a year earlier. Analysts had expected a net profit of 31.3 billion riyals in the second quarter, according to the mean estimate from three analysts, provided by Refinitiv. ($1 = 3.7501 riyals) (Reporting by Rania El Gamal and Saeed Azhar. Editing by Jane Merriman) Copyright 2020 Thomson Reuters.
    Warren BuffettGerard Miller | CNBC Berkshire Hathaway announced on Saturday it bought back a record amount of its own stock during the second quarter as the coronavirus pandemic dented operations for Warren Buffett's conglomerate.  The company said it repurchased $5.1 billion worth in stock in May and June. Berkshire repurchased more than $4.6 billion of its Class B stock and about $486.6 million in Class A shares. The share repurchase is the most ever in a single period for Buffett, nearly double the $2.2 billion the conglomerate bought back in the final quarter of 2019. In fact, the amount is slightly more than what Buffett spent buying back Berkshire stock in all of 2019. Despite the company's record buybacks last quarter, the Berkshire's...
    Hilton Worldwide CEO Chris Nassetta tried to offer investors glimmers of hope Thursday even as the McLean hotelier reported disastrous second quarter earnings results amid a Covid-19 pandemic that continues to rage in the United States. Hilton (NYSE: HLT) saw significant revenue drop in the second quarter, posting $564 million, down 77.3% from the second quarter of 2019, when it posted $2.48 billion. In conjunction, system-wide occupancy rates dipped to 22.3%, down 56.1% from the same quarter of last year. Nassetta said the company is starting to see signs of recovery. Systemwide occupancy was around 45% in the first week of August, up from the low of about 10% in April, he said. As of July 31, 96%...
    Uber CEO Dara Khosrowshahi walks outside of the New York Stock Exchange its highly anticipated initial public offering on May 10, 2019.Spencer Platt | Getty Images Ride-hailing giant Uber is set to report second-quarter results after markets close on Thursday, as the novel coronavirus continues to curtail people's travel and commuting in the U.S. Here's what Wall Street expects for the period ending June 30, 2020: Losses: 86 cents per share, adjusted, according to a consensus of analysts surveyed by Refinitiv. Revenue: $2.18 billion, as per Refinitiv Rides (gross bookings): $3.47 billion, according to estimates compiled by StreetAccount Eats (gross bookings): $6.57 billion, as per StreetAccount. Uber suffered declines in gross bookings for its core ride-hailing business...
    San José, Aug 6 (EFE) .- Unemployment in Costa Rica reached a historical figure of 24% in the second quarter of the year in the midst of the COVID-19 pandemic, representing an increase of 12.1 percentage points compared to the same period in 2019, the state-run Costa Rican Institute of Statistics and Censuses (INEC) reported on Thursday. The INEC detailed that the unemployment rate in the male population was 20% and in the female population 30.4%, increases of 10.1 and 15.4 percentage points, respectively, compared to the second quarter of 2019. In absolute terms, the unemployed population increased by 256,000 to 551,000 in June 2020. In May, unemployment stood at 20.1%. Since it detected the first case of the coronavirus...
    A for sale sign is seen next to a house in Arlington, Virginia on May 6, 2020.Andrew Caballero-Reynolds | AFP | Getty Images Mortgage rates fell to another record low this week, the eighth record set this year. But home affordability is weakening as the housing shortage, high demand from buyers and rising home prices negate the benefits of lower rates. Only 59.6% of new and existing homes sold in the second quarter of this year were considered affordable to families earning an adjust median income of $72,900, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index. That's down from 61.3% in the first quarter of 2020 and is the lowest reading in 18 months. NAHB did...
    Hilton lost $432 million in the second quarter, but occupancy rates began to improve as hotels reopen and coronavirus restrictions were lifted around the world. Occupancy levels rose 20 percentage points in the U.S. and 15 percentage points in Asia between April and June. Tourism in beach towns like Norfolk, Virginia, have recovered more quickly in the U.S. than cities like New York and Seattle, according to STR, a hospitality data and consulting firm. Occupancy averaged 22% at Hilton hotels for the April-June period, down 56% from the same period a year ago. Occupancy levels were highest in Asia, at 29%, and lowest in Europe, at 7%. U.S. occupancy levels averaged 24%. The McLean, Virginia, company announced layoffs of about...
    Football : A week before their Champions League quarter-final against Atalanta Bergamo, PSG faced Sochaux this Wednesday at the Parc des Princes. For a small 1-0 victory. After winning the two national cups at the expense of Saint-Etienne and OL, PSG honored a last meeting – friendly this one – before rubbing shoulders with Atalanta Bergamo as part of the Final 8 of the Champions League. At the Parc des Princes this Wednesday evening, the Parisians thus dominated Sochaux, resident of Ligue 2. A victory acquired on the minimum margin (1-0), thanks to an opportunist Choupo-Moting. The Cameroonian striker, holder at the forefront alongside Kalimuendo and with Sarabia and Draxler in support, offered himself the only goal of...
    (Bloomberg) – Sweden was unable to escape its worst economic downturn despite adopting one of Europe’s most flexible approaches to dealing with the covid-19 pandemic. Gross domestic product fell 8.6% in the second quarter, more than economists had predicted. But while it is a record depression, it is less severe than the depression seen in other parts of Europe. Spain, France and Italy registered a double-digit contraction, and even Germany’s economy declined 10%. Sweden’s GDP decreased 8.2% compared to the same quarter last year, according to a first estimate by the government statistics agency, Statistics Sweden. Unlike its neighbors, Sweden refrained from imposing a mandatory blockade, based on voluntary public health guidelines. The strategy has coincided with a considerably higher...
    Paul Zimmerman | Nasdaq | Getty Images Check out the companies making headlines after the bell:  Roku — Shares of the streaming platform fell 1% after the market closed. Roku reported second-quarter financial results after hours, posting a loss of 35 cents per share on revenues of $356 million, compared to predictions of analysts surveyed by Refinitiv for a loss of 50 cents per share on revenues of $315 million. Roku said it added 3.2 million incremental active accounts in the second quarter, reaching 43 million. Etsy — The marketplace company's stock whipsawed in extended trading after the company released its second-quarter earnings. Etsy said it had earnings of 75 cents per share with revenue of $429 million, while analysts estimated earnings of 39...
    Wayfair's revenue spiked 84 per cent to $4.3billion in the second quarter as Americans under lockdown restrictions redecorated their homes amid the coronavirus pandemic.   According to a company statement, total net revenue increased by $2billion to $4.3 billion, up 83.7 per cent from last year.  The Boston-base furniture company's shares shot up to 3 per cent on Wednesday. The company swung to adjusted earnings per share of $3.13. Meanwhile, international revenue increased $310.2million, up 90.5 per cent from last year.  Wayfair's revenue spiked 84 per cent to $4.3billion in the second quarter as Americans under lockdown restrictions redecorated their homes amid the coronavirus pandemic Wayfair CEO Niraj Shah said in a statement: 'We experienced unprecedented demand in Q2 and...
    Capitals ready to test young Flyers G Hart 12 Kitchen Curtain Ideas Thatll Keep Your Space Pretty and Bright Dow, S&P 500 on pace to extend win-streak to 4th straight session, as earnings and service-sector data surprise to the upside MARKET SNAPSHOT © Getty Images Disney+ streaming service. Getty Images. U.S. stocks rise Wednesday, briefly pushing the Nasdaq Composite above a record 11,000 for the first time in history, as corporate earnings results surprised to the upside and rosy service-sector data outweighed a disappointing jobs report from payroll provider ADP. Load Error Reports of some progress in Congress toward a fresh coronavirus relief package also offered some support for the bulls. How are equity benchmarks performing? The...
    Falcons WR Calvin Ridley has high expectations for third season 12 Back-to-School Essentials Every Kid Will Need During a Pandemic Dow up 300 points, led by Disney gains, as earnings and service-sector data surprise to the upside MARKET SNAPSHOT © Getty Images Disney+ streaming service. Getty Images. U.S. stocks rose Wednesday as corporate earnings surprised to the upside and rosy service-sector data outweighed a disappointing jobs report from payroll provider ADP. Load Error Reports of some progress in Congress toward a fresh coronavirus relief package also offered some gristle to the bulls early in the session. How are equity benchmarks performing? The Dow Jones Industrial Average (DJIA) was about 302 points or 1.1% higher, near 27,134, while the...
    Jack Dorsey, chief executive officer of Square Inc., second right, tours the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Thursday, Nov. 19, 2015.Yana Paskova | Bloomberg | Getty Images Here are the companies making headlines in midday trading.  Disney — Shares of the entertainment giant surged more than 9% after its fiscal third quarter report showed strong growth for its streaming services. The company's revenues came in weaker than expected, but it said its streaming subscriptions reached 100 million and announced it will release the highly anticipated remake of "Mulan" direct to streaming in September.  Novavax — The pharmaceutical stock jumped 14% after the company released information about its Covid-19 vaccine candidate that showed...
    The headline from last Thursday’s report by the Bureau of Economic Analysis (BEA) on second quarter GDP was horrific: The economy contracted 9.5 percent from April through June. On an annual basis, GDP fell at an astounding rate of nearly 33 percent. Still, there’s another ominous aspect to the agency’s findings that has gone largely unnoted: The pandemic-driven collapse in GDP occurred even with trillions of dollars of government aid dispensed through emergency checks to households, expanded jobless benefits, and payroll grants. Now, as the pandemic worsens again—infections are surging across much of the South, Southwest and Midwest—we may well need to face another period of largescale shutdowns, like those that stalled out the economy in April and May. But the White...
    Plan to Show More Golf Shots on Television Is Just So Crazy It Might Work Shoppers Say This Striped Dress from Amazon Has ‘Buttery Soft’ Fabric and Roomy Pockets Dow, S&P 500 futures point to fourth straight gain despite private-sector jobs report disappointment MARKET SNAPSHOT © Getty Images U.S. stock-index futures pointed to gains early Wednesday as investors pored over corporate earnings results and largely brushed off a disappointing private-sector jobs report from ADP. Load Error Reports of some progress in Congress toward a fresh coronavirus relief package also offered some gristle to the bulls early in the session. How are equity benchmarks performing? Futures for the Dow Jones Industrial Average (YMU20)(YM00) rose 169 points, or 0.6%,...
    Roundup: Virgin Atlantic Files For Bankruptcy, Hurricane Isaias Hammers East Coast, John Sterling Returns Thursday Shoppers Say This Striped Dress from Amazon Has ‘Buttery Soft’ Fabric and Roomy Pockets More Portuguese Left the Workforce as Lockdowns Hit the Economy (Bloomberg) -- © Bloomberg Commuters wearing protective face masks ride a tram in Lisbon, Portugal. More people dropped out of Portugal’s workforce in the three months through June amid the government’s confinement measures aimed at controlling the coronavirus outbreak. Load Error The number of so-called inactive individuals rose 4.1% to 5.3 million from the previous quarter. That had the impact of pushing down the unemployment rate to 5.6% from 6.7% in the previous quarter, the Lisbon-based National Statistics...
    VIDEO1:1001:10News Update – Pre-MarketsNews Briefing Check out the companies making headlines before the bell: Apple – B of A Securities downgraded Apple to "neutral" from "buy", while raising its price target on the stock to $470 per share from $420. The firm said there are many positives for Apple but risks as well, and that risk/reward is balanced at current price levels. CVS Health – CVS reported better-than-expected profit, revenue, and same-store sales for the second quarter, and also raised its full-year forecast. Among the factors helping the bottom line: lower medical costs for the company's pharmacy benefits management business due to the pandemic. Walt Disney – Disney reported adjusted quarterly profit of 8 cents per share, compared with a consensus estimate of...
    A rare winter wonderland blanketed Tasmania, and residents couldnt get enough Teheran to make Angels debut vs. struggling Mariners Discovery U.S. Ad Revenue Drops Less Than Expected Amid Pandemic © THR Staff With its $15 billion acquisition of Scripps Networks, Discovery surpassed NBCU as the No. 1 media company for female viewers. In all, its portfolio, from Animal Planet to HGTV, reaches 3 billion viewers worldwide and comprises nearly 20 percent of ad-supported pay TV viewership in the U.S. While other media companies shell out billions on content, Zaslav, 59, is building a more efficient direct-to-consumer business (powered by a new tech hub in Bellevue, Washington) based on its unscripted assets, including the soon-to-launch Food Network Kitchen app, a...
    A sign marks the headquarters of Moderna Therapeutics, which is developing a vaccine against the coronavirus disease (COVID-19), in Cambridge, Massachusetts, May 18, 2020.Brian Snyder | Reuters Moderna reported Tuesday a fivefold increase in second-quarter revenue related to its work on a potential coronavirus vaccine.  This is a developing story. Please check back for updates.Related Tags Earnings Health care industry Politics U.S. Economy Biotech and Pharmaceuticals
    A man rides an electric scooter in Stockholm on July 27, 2020, during the novel coronavirus / COVID-19 pandemic.JONATHAN NACKSTRAND | AFP | Getty Images Sweden's gross domestic product (GDP) tumbled 8.6% in the second quarter of the year, according to a flash estimate from the country's statistics office on Wednesday, recording its largest single quarterly drop in modern history. The record decline, broadly in line with consensus, was significantly worse than even the fourth quarter of 2008 when the Nordic country recorded a fall of 3.8% during the global financial crisis. However, Sweden's economy still outperformed many of its European counterparts over the three-month period through to the end of June. It follows the government's decision not to impose...
    FRANKFURT, Germany (AP) — German automaker BMW AG lost 212 million euros ($250 million) in the second quarter as the coronavirus pandemic shutdowns cut vehicle sales by a quarter in the April-June period. The company saw a rebound in China, its biggest market. The net loss compared to a profit of 1.48 billion euros in the same period a year ago. The company has since re-started all its factories and CEO Oliver Zipse said Wednesday he was “cautiously optimistic” about the second half of the year, predicting the automaker would still make some profit selling cars. “Our swift responsiveness and consistent management strategy enabled us to limit the impact of the corona pandemic" during the first half of the year,...
    FRANKFURT, Germany (AP) — German automaker BMW AG lost 212 million euros ($250 million) in the second quarter as the coronavirus pandemic shutdowns cut vehicle sales by a quarter in the April-June period. The company saw a rebound in China, its biggest market. The net loss compared to a profit of 1.48 billion euros in the same period a year ago. The company has since re-started all its factories and CEO Oliver Zipse said Wednesday he was “cautiously optimistic” about the second half of the year, predicting the automaker would still make some profit selling cars. “Our swift responsiveness and consistent management strategy enabled us to limit the impact of the corona pandemic” during the first half...
    Football : It is a Neymar finally flourished in Paris who approaches the “Final 8” of the Champions League and this eagerly awaited quarter-final against Atalanta Bergamo. Monday was for Neymar the opportunity to celebrate his three years at PSG. Announced leaving every summer since his record purchase at FC Barcelona for 222 million euros, on August 3, 2017, the one who remains the most expensive player in history is still there, in Paris. And he visibly feels happier there than ever. “These three years have been rich in experiences, summarizes the Brazilian striker on his website. There were times of joy and others that were more complicated, especially when I was not able to play due to...
    Football : Mauro Icardi would not follow the instructions of Thomas Tuchel, who would seriously consider leaving the Argentine striker on the bench against Atalanta. “All the rumors and all the things that are being said, the problems between the players and the coach, are attempts to destabilize. ” According to Pablo Sarabia, interviewed on RMC Sport, everything is going very well between the Parisians and Thomas Tuchel one week before quarter-final of the Champions League between PSG and Atalanta Bergamo. A facade unit? It’s possible. Because according to the Paris United site, the German technician would have a problem with at least one player in his workforce: Mauro icardi. Recruited definitively and now free of competition fromEdinson...
    New York (CNN Business)Booking Holdings plans to lay off 25% of its global workforce as a result of the downturn in travel demand caused by Covid-19.The proposed layoffs at its Booking.com unit, which amounts to roughly 4,000 employees, will begin in September after it finishes consulting with "works councils, employee representatives and other relevant organizations," the company said in a regulatory filing."The Covid-19 crisis has devastated the travel industry, and we continue to feel the impact as travel volumes remain significantly reduced," a Booking spokesperson said in a statement. "While we have done much to save as many jobs as possible, we believe we must restructure our organization to match our expectation of the future of travel."The conglomerate owns a...
    (AFP) — Hundreds of coronavirus-infected people in Australia’s worst-hit state have been caught flouting stay-at-home orders, authorities said Tuesday, prompting tougher fines. The southern state of Victoria has endured a second wave of infections over recent weeks that the government has partly blamed on people breaking rules that restrict travel. Residents of Melbourne, Australia’s second-biggest city and the capital of Victoria, are now enduring an overnight curfew, closure of non-essential businesses and mandatory mask-wearing as hundreds of new cases are recorded daily. But 800 infected people — or more than 25 per cent of those doorknocked across Victoria — were not at home when authorities conducted recent checks, which state Premier Daniel Andrews called “completely unacceptable”. Andrews said people infected...
    A BP company logo at a gas station in London, U.K.Chris Ratcliffe | Bloomberg | Getty Images Energy giant BP reported a significant loss for the second quarter after downgrading the value of some of its assets on expectations of lower commodity prices. Second-quarter underlying replacement cost profit, used as a proxy for net profit, came in at a loss of $6.7 billion, as expected by analysts polled by Refinitiv. That compared with net profit of $2.8 million for the same period a year earlier. BP also announced a dividend of 5.25 cents per share for the quarter, compared to 10.5 cents per share for the first three months of the year. The U.K.-based oil and gas company said last month that...
    Football : If he seems to no longer count on his strong link Josip Ilicic, Gian Piero Gasperini has nevertheless split good news for Atalanta on Monday, nine days before the C1 quarter-final between Bergamo and PSG. Last Saturday during the 38th and last round of Serie A, the Dea suffered the law of Inter (2-0), quickly losing its goalkeeper, Pierluigi gollini, on injury. However, the latter would only suffer from a blow to the knee. A completely “recoverable” pain in the words of his trainer to the Rai: “He has a bad bruise on his knee. But at first glance it seems recoverable. “ Read also:Mbappé decided to play against AtalantaWenger sees PSG go to the end...
    Fact check: Post online falsely claims 28-foot alligator shot in Florida The CDC Reports a Major Illness Outbreak in 34 States Tied to This Food The Rich Still Want to Buy Their Ferraris (Bloomberg Opinion) -- The business of making Ferraris is doing embarrassingly well in the pandemic. © Photographer: Yuriko Nakao/Getty Images Europe AMSTERDAM, NETHERLANDS - MAY 9: An open roof Ferrari vehicle passes people waiting to enter a Chanel store in P.C. Hoofstraat (Pieter Cornelisz Hooftstraat) luxury fashion shopping street on May 9, 2020 in Amsterdam, Netherlands. (Photo by Yuriko Nakao/Getty Images) Covid-19 has affected the production and delivery of luxury cars, but not demand from the wealthy to acquire them, as analysts have noted. The financial...
    General Motors CEO Mary Barra speaks to the news media June 12, 2018 in Detroit, Michigan.Bill Pugliano | Getty Images The Detroit automakers' earnings showed they are better prepared and more resilient to weather a crisis than they were a decade ago — even as the coronavirus pandemic still hobbles much of the global auto industry. It's something Wall Street has wanted the companies to prove they were capable of doing since the Great Recession, which forced General Motors and then-Chrysler into government-backed bankruptcies in 2009. But the Detroit automakers didn't receive the respect from investors many thought they deserved after releasing second-quarter earnings last week. Despite GM, Ford Motor and Fiat Chrysler each significantly beating earnings expectations, shares of the companies...
    A look at some of the key business events and economic indicators upcoming this week: Losing its magic? Disney is expected to have slumped to a loss in its fiscal third quarter. Analysts forecast the Magic Kingdom operator and owner of the ABC and ESPN networks lost 61 cents a share in the April to June period, when the viral pandemic kept many of its businesses shut and tourists at home. Disney reports quarterly results on Tuesday. Picture of health Analysts forecast that CVS Health’s profit grew slightly in the second quarter. CVS operates one of the nation’s largest pharmacy chains, and has benefited from a rush to fill medicine cabinets and pantries during pandemic-enforced shutdowns. Wall Street...
    Football : The evolution of Kylian Mbappé’s injury is certainly positive. So much so that the Parisian striker does not see himself missing the upcoming C1 quarter-final against Bergamo. Last Thursday on the eve of the final of the Coupe de la Ligue won on penalties at the expense of OL, Thomas Tuchel, the coach of PSG, admitted to hoping for “a miracle” as to the evolution of the injury of Kylian Mbappé, victim of a big sprain of the right ankle after a strong tackle from Stéphanois Loïc Perrin, a week earlier, in the final of the Coupe de France . This Sunday, L’Equipe assures him, the clinical and radiological examinations observed this weekend are “reassuring” and...
    Football : The expected poster for the final of the Women’s French Cup will take place next Sunday in Auxerre. Holding the title, OL will face PSG there. The two flagship clubs of France, however, did not have it easy on Sunday. The Lyonnaises had to fight hard to win at Guingamp (0-1) on a victorious header from Parris (65th). The Parisiennes, they had to overthrow the Bordelaises (1-2), Paredes (55th) and Brunn (84th) having responded in the second half to the opening of Snoeijs (23rd). The Rhone, already crowned champions of France this season, will try to win their ninth Coupe de France next week. Seven times winners of the trophy in the past eight years, the...
    Football : Considered Atalanta’s best asset, Josip Ilicic left Bergamo for Slovenia in recent days. And the person will probably not be back to face PSG in the Champions League on August 12. Josip Ilicic this season, it is no less than 21 goals in 34 matches in all competitions with Atalanta Bergamo. Suffice to say that the 32-year-old player has largely contributed to the good performance of the Dea, quarter-finalist in C1 and third in Serie A. However, the player has not played since March 10 and the victory his own in Valencia (3-4) in the round of 16 second leg of the Champions League. One less master asset in the Bergamasques round. First declared injured by...
    Getty Images The majority of companies have now reported their earnings, revealing the winners and losers from the ongoing coronavirus pandemic. Although many companies failed to meet analyst expectations, there are some notable exceptions. And with these fresh insights, analysts are reviewing their short-term and long-term take on the stocks they cover. In this unprecedented time, it makes sense to follow the stock picks of analysts with a proven track record of success. We used TipRanks analyst forecasting service to pinpoint Wall Street's best-performing analysts. These are the analysts with the highest success rate and average return measured on a one-year basis — factoring in the number of ratings made by each analyst. Here are the best-performing analysts' six favorite stocks right now:QualcommQualcomm...
    Madrid, Aug 2 (EFECOM) .- Telefónica, Orange, Vodafone and MásMóvil entered this second quarter of 2020 in Spain with 5,691 million euros, 4.7% less than in the same period last year, despite the increase in use phone and internet during confinement. The one that saw its income drop the most in Spain from April to June compared to the same period last year was Vodafone, which billed 8.2% less and stayed at 994 million euros; followed by Orange, with 6.8% less and registered 1,216 million, and Telefónica, which fell 5.2% and invoiced 3,028 million euros. Unlike the other three, the fourth operator, MásMóvil, again registered an increase in revenues of 10% and stood at 453 million euros. If MásMóvil is...
    Sylvia Fowles picked up her fourth foul less than a minute into the second half and seemed destined to sit on the bench like she did much of the first half. Instead, she backed her coach’s gutsy decision to keep her in the game by scoring 13 of her 21 points in a dominant second half, and the Lynx pulled away to beat Connecticut 78-69 Saturday at the IMG Academy in Bradenton, Fla. Fowles, the team leader who added nine of her 13 rebounds in the final 20 minutes, said her approach was toned down a bit. “I was just trying to be aggressive without being as aggressive. … Just maintaining my composure, knowing my teammates need me,” she said....
    In the second quarter, the euro zone recorded a decline of 12.1% of its GDP. The European Commission anticipates a plunge of 8.7% of GDP over the year. A historic decline since 1995 The European Statistical Office Eurostat announced, this Friday, July 31, that the GDP of the euro area fell 12.1% in the second quarter, due to containment measures linked to the Covid-19. In its press release, Eurostat underlined that this is the largest decline on record since 1995. During the first trimester, the GDP in the euro zone fell 3.6%. Moreover, it fell 11.9% in the second quarter for the whole ofEuropean Union. At the national level, the figures are disastrous, as in Spain (-18.5%), Portugal (-14.1%), France...
    BRADENTON, Fla. (AP) — Betnijah Laney scored a career-high 30 points and the Atlanta Dream beat New York 84-78 Friday night in a game in which the Liberty lost top draft pick Sabrina Ionescu to an ankle injury in the second quarter. Rookie Chennedy Carter added 17 points and Monique Billings had eight points and 15 rebounds for Atlanta. Rookie Jazmine Jones scored a season-high 20 points to lead New York and Clarendon scored 16. Ionescu, the No. 1 pick in April’s draft, left in the second quarter due to a left ankle injury and did not return. She had 10 points on 4-of-5 shooting in 12 minutes. WINGS 76, FEVER 73 BRADENTON, Fla. (AP) — Satou Sabally had...
    BRADENTON, Fla. (AP) — Betnijah Laney scored a career-high 30 points and the Atlanta Dream beat New York 84-78 Friday night, in a game in which the Liberty lost top draft pick Sabrina Ionescu to an ankle injury in the second quarter. Rookie Chennedy Carter added 17 points and Monique Billings had eight points and 15 rebounds for Atlanta. Laney’s 3-pointer with two minutes left in the third quarter gave Atlanta a 14-point — their biggest of the game — but New York (0-3) chipped away, trimming its deficit to 73-71 when Layshia Clarendon made a short jumper with 2:45 to play. Carter answered with a pull-up jumper and then Billings made two free throws and the Liberty got no...
    NEW YORK (AP) — Stocks that moved heavily or traded substantially on Friday: Exxon Mobil Corp., up 21 cents to $42.08. The company lost $1.1 billion and its revenue dropped by half in the second quarter as the pandemic kept households on lockdown. Expedia Group Inc., down $3.92 to $81.01. The company reported weak earnings and its CEO said the second quarter was likely the worst the travel industry has seen. Merck & Co., up $1.25 to $80.24. The drugmaker easily surpassed Wall Street’s forecasts thanks to surging sales of cancer medicines and lower expenses. Church & Dwight Co., Inc., up $6.27 to $96.33. The maker of Arm & Hammer cleaning products reported surprisingly strong results. ...
    In a year full of uncertainty for the economy in general, Apple has managed to maintain its numbers and even increase them in some markets. According to a recent report published by Canalys, Apple has been the only company to record growth in smartphone sales in the second quarter of 2020, which brings it closer to Samsung and Huawei, currently leaders in markets as important as China. Information supported by data released by Apple on its second-quarter earnings, confirm revenue of $ 59.7 billion and earnings of $ 11.25 billion during the third fiscal quarter of 2020, with $ 26.42 billion in iPhone revenue. On this occasion, the company decided to end the rumors and also confirmed that iPhone 12...
    Despite better-than-expected financial results in the second quarter, Under Armour executives on Friday provided analysts with a cautious outlook due to the Covid-19 pandemic, causing shares to decline after an early surge. The Baltimore-based sportswear maker surprised Wall Street after it beat estimates for profit and sales in the second quarter. Sales fell 41% to $707.6 million in the second quarter — a substantial decline the company attributed to the vast majority of its stores being closed through mid-May — but that was better than the 50-to-60% decrease executives previously projected. The company also reported a $183 million loss. Yet, the road ahead remains bumpy. Under Armour expects sales to fall 20 to 25% in the second half as store...
    Brendon Todd (65) ‘excited and happy’ to build on early season momentum 7 Secrets for Buying the Perfect Avocado Dow Falls as Declines in Energy Offset Stellar Gains From Apple Stocks were mostly lower Friday as steep quarterly losses from energy giants Exxon Mobil and Chevron offset impressive earnings from Apple and Amazon.com © TheStreet Dow Falls as Declines in Energy Offset Stellar Gains From Apple The Dow Jones Industrial Average fell 178 points, or 0.68%, to 26,135, the S&P 500 was down 0.34% and the Nasdaq rose 0.35% but was trading off earlier session highs. Load Error The stellar reports from America's most powerful tech companies had given markets a jolt a day after...
    Facebook co-founder and CEO Mark Zuckerberg smiles at the conclusion of his testimony before the House Energy and Commerce Committee in the Rayburn House Office Building on Capitol Hill April 11, 2018, in Washington, DC.Getty Images Here are the companies making headlines in midday trading: Facebook — Facebook equity rallied 7.4% after the company beat profit estimates by 41 cents a share, with quarterly earnings of $1.80 per share. Revenue also beat estimates. The social media giant also said it expects growth in ad sales despite a boycott by some key advertisers and cutbacks induced by the pandemic. Eastman Kodak — Shares dropped 27% amid a wild week of trading for the one-time photography giant. On Tuesday, the company announced a $765 million loan...
    NBA Best Bet of the Day: Phoenix Suns burn Washington Wizards in first half These 13 States Need to Lock Down Immediately, Harvard Researchers Say Dow Falls as Declines in Energy Offset Stellar Gains From Big Tech Stocks were mostly lower Friday as steep quarterly losses from energy giants Exxon Mobil and Chevron offset impressive earnings from Apple and Amazon.com © TheStreet Dow Falls as Declines in Energy Offset Stellar Gains From Big Tech The Dow Jones Industrial Average fell 215 points, or 0.82%, to 26,098, the S&P 500 was down 0.43 % and the Nasdaq rose 0.18% but came off earlier session highs. Load Error The stellar reports from America's most powerful tech companies...
    Black Americans star in front of Hitler at Berlin Olympics Kellie Brown on Self-Love, Inspiring Community, and Sticking to a Beauty Routine Stocks Struggle as Declines in Energy Offset Stellar Gains From Big Tech Stocks were mostly lower Friday as steep quarterly losses from energy giants Exxon Mobil and Chevron offset impressive earnings from Apple and Amazon.com © TheStreet Stocks Struggle as Declines in Energy Offset Stellar Gains From Big Tech The Dow Jones Industrial Average fell 188 points, or 0.72%, to 26,125, the S&P 500 declined 0.39% and the Nasdaq rose 0.27% but came off earlier session highs. Load Error The stellar reports from America's most powerful tech companies had given markets a jolt...
    NEW YORK (CBSDFW/AP) – Exxon lost $1.1 billion in the second quarter, its economic pain deepening as the pandemic kept households on lockdown, diminishing the need for oil around the world. The Irving-based oil giant brought in $32.6 billion in revenue during the second quarter, less than half of what it brought in at the same time last year. Exxon produced 3.6 million barrels of oil, down 7% from last year. “The global pandemic and oversupply conditions significantly impacted our second quarter financial results with lower prices, margins, and sales volumes,” said Darren Woods, chairman and CEO, in a statement Friday. “We responded decisively by reducing near-term spending and continuing work to improve efficiency by leveraging recent reorganizations.” The quarter...
    ICE Praises Retiring Chief Matthew Albence for Record-Breaking Arrests Utah buffets allowed to reopen with some restrictions Chevron and Exxon post huge losses as oil prices plummet Exxon Mobil and Chevron both reported huge losses for the second quarter that were even worse than what Wall Street was expecting -- yet another sign of how the Covid-19 pandemic has wrecked the global economy. © Andrew Harrer/Bloomberg/Getty Images A vehicle passes an Exxon Mobil Corp. gas station in Falls Church, Virginia, U.S., on Tuesday, April 28, 2020. Exxon is scheduled to released earnings figures on May 1. Photographer: Andrew Harrer/Bloomberg via Getty Images Shares of Exxon and Chevron were each lower in early trading Friday after announcing the results....
    Lisbon, Jul 31 (EFE) .- Portugal’s GDP fell by 16.5% in the second quarter in equivalent terms, an unprecedented drop in the historical series caused by the pandemic, which especially affected private consumption and investment. The data has been advanced this Friday by the National Statistics Institute (INE) in a “quick estimate”, before publishing its final results in mid-August. The Institute is ahead with the idea, explains, to have information as quickly as possible to analyze the impact of the coronavirus on GDP, which compared to the first quarter fell by 14.1%. The decline is explained “to a large extent” by the negative contribution of domestic demand, especially with a sharp decline in private consumption and also in the section...
    Hard-hit Massachusetts worries COVID-19 respite is fleeting Where to Order Good Cheap Burritos in LA and Beyond Fiat Chrysler reports $1.2 billion loss in the second quarter Fiat Chrysler lost $1.24 billion in the second quarter as the coronavirus caused rolling shutdowns at its plants across the globe. The company managed to beat Wall Street's earnings expectations but missed on revenue. The stock closed Thursday at $10.50, down 3.9%. © Provided by CNBC Fiat Chrysler Automobiles assembly workers produce protective masks, amid the spread of the coronavirus disease (COVID-19), at the Assembly Plant in Betim near Belo Horizonte, Brazil, May 20, 2020. Fiat Chrysler lost $1.24 billion (1.05 billion euros) in the second quarter as the coronavirus caused...
    By CATHY BUSSEWITZ, AP Business Writer NEW YORK (AP) — Exxon lost $1.1 billion in the second quarter, its economic pain deepening as the pandemic kept households on lockdown, diminishing the need for oil around the world. The Irving, Texas-based oil giant brought in $32.6 billion in revenue during the second quarter, less than half of what it brought in at the same time last year. The quarter was one of the worst on record for the oil industry. The price of a barrel of benchmark U.S. crude fell below $0 in April, a stunning downfall that had not before been seen in the industry. Producers had been pumping far more oil than the world was using as global travel...
    By TOM KRISHER, AP Auto Writer DETROIT (AP) — Fiat Chrysler posted a second-quarter loss that was not as bad as feared with factories closed by the coronavirus erasing its profits. The company lost just over $1.2 billion, (1.05 billion euros) but still made $46.2 million before taxes in North America. The Italian-American automaker was forced to idle plants in the U.S. for about seven weeks. That sapped much of the revenue from its most profitable market. The company lost an adjusted 77 cents per share from April through June, yet that was far better than the losses of $1.48 that Wall Street was bracing for, according to a survey by FactSet. The loss was a huge reversal from last...
    IRVING (CBSDFW.COM/AP) — Irving-based Exxon Mobil lost $1.1 billion in the second quarter, its economic pain deepening as the coronavirus pandemic kept households on lockdown, diminishing the need for oil around the world. The oil giant brought in $32.6 billion in revenue during the second quarter, less than half of what it brought in at the same time last year. The quarter was one of the worst on record for the oil industry. The price of a barrel of benchmark U.S. crude fell below $0 in April, a stunning downfall that had not before been seen in the industry. Producers had been pumping far more oil than the world was using as global travel all but shut down, and storage...
    Fuel prices are displayed at an Exxon Mobil Corp. gas station in Arlington, Virginia, U.S., on Wednesday, April 29, 2020.Andrew Harrer | Bloomberg | Getty Images Exxon said on Friday that it lost $1.1 billion during the second quarter amid "global oversupply and COVID-related demand impacts." It was the oil giant's second straight quarter of losses. The company lost 70 cents per share on an adjusted basis, while revenue came in at $32.61 billion. In the same quarter a year ago, Exxon earned 73 cents per share, on revenue of $69.09 billion. Analysts expected the company to report a loss of 61 cents per share for the second quarter, and revenue of $38.157 billion, according to estimates from Refinitiv. Shares of Exxon...
    NEW YORK (AP) — Exxon lost $1.1 billion in the second quarter, its economic pain deepening as the pandemic kept households on lockdown, diminishing the need for oil around the world. The Irving, Texas-based oil giant brought in $32.6 billion in revenue during the second quarter, less than half of what it brought in at the same time last year. Exxon produced 3.6 million barrels of oil, down 7% from last year. “The global pandemic and oversupply conditions significantly impacted our second quarter financial results with lower prices, margins, and sales volumes,” said Darren Woods, chairman and CEO, in a statement Friday. “We responded decisively by reducing near-term spending and continuing work to improve efficiency by leveraging recent reorganizations.” The...
    DETROIT (AP) — Fiat Chrysler posted a second-quarter loss that was not as bad as feared with factories closed by the coronavirus erasing its profits. The company lost just over $1.2 billion, (1.05 billion euros) but still made $46.2 million before taxes in North America. The Italian-American automaker was forced to idle plants in the U.S. for about seven weeks. That sapped much of the revenue from its most profitable market. The company lost an adjusted 77 cents per share from April through June, yet that was far better than the losses of $1.48 that Wall Street was bracing for, according to a survey by FactSet. The loss was a huge reversal from last year’s second...
    (CNN)The economic toll of the pandemic is becoming clear. In just a few months, the virus has managed to wipe out years of gains and push millions of people around the world into new economic hardship.Data released yesterday showed the US economy slumped by 9.5% in the second quarter compared to the same period last year. That's an annual rate drop of 32.9%, the worst on record. However horrific, the number did not come as a huge surprise after the economy ground to a halt during the spring lockdown, when more than 20 million jobs vanished in April. More than half of adult Americans live in households that have lost income during the pandemic. Across the ocean, the European Union...
    VIDEO1:3201:32Chevron posts bigger-than-anticipated loss for second quarterSquawk Box Chevron reported an $8.3 billion loss in the second quarter as the coronavirus pandemic "significantly reduced demand." Amid a historic drop in oil prices, the company's average price per barrel of oil and natural gas liquids dropped more than 60% year-over-year. The oil giant lost $1.59 per share on an adjusted basis, while revenue came in at $13.49 billion. In the same quarter a year ago the company earned $2.27 per share on $36.32 billion in revenue. Analysts expected the company to post a loss of 92 cents per share, on $22.097 billion in revenue, according to estimates from Refinitiv. Part of the company's loss came from a $1.8 billion writedown primarily associated...
    Caterpillar Inc. excavators are displayed for sale at the Whayne Supply Co. dealership in Louisville, Kentucky, U.S., on Monday, Jan. 27, 2020.Luke Sharrett | Bloomberg | Getty Images Industrial machinery manufacturer Caterpillar said Friday morning that cost reduction and prioritized spending helped it offset a $1.4 billion decline in dealer inventories during the second quarter and post better-than-feared results.  The Deerfield, Illinois-based equipment maker posted adjusted per-share earnings of $1.03 on revenues of $10 billion. Analysts were expecting revenue of just $9.38 billion for the quarter, according to the consensus from Refinitiv. Including losses resulting from the settlement of pension obligations, Caterpillar's EPS in the second were 84 cents. Though better than what analysts were expecting, $10 billion in sales represented...
    Opinion: Lakers-Clippers game shows grind-it-out mentality will likely determine NBA champion My Two-Year-Old Tested the New Lovevery Play Kit Subscription Box Euro zone GDP plunged by a record 12.1% in the second quarter Friday's preliminary reading is the lowest since records began in 1995.  German GDP (gross domestic product) contracted by 10.1%; Italy's sank by 12.4%; France's fell by 13.8%; and Spain's shrank by 18.5%. © Provided by CNBC Passengers wear protective face masks as they alight a Metro train in Madrid, Spain. The euro zone economy contracted by 12.1% in the second quarter of 2020, compared to the first three months of the year, according to preliminary data from the region's statistics office. Friday's reading is...
    London (CNN Business)Europe's economy shrank by 11.9% in the second quarter as the coronavirus pandemic plunged the region into a deep recession. The quarter-on-quarter fall in EU GDP is the worst on record. Compared with the same period a year ago, the fall in output was even bigger — 14.4% — making it worse than the 9.5% slump recorded Thursday by the United States.Recent surveys of business activity suggest Europe's economy is now in recovery mode. But the specter of another wave of coronavirus cases looms. Germany's center for disease control, the Robert Koch Institute, said this week that a recent spike in cases was "very disturbing." In France, new daily cases have crept back to the same level as...
    A picture taken in June 2004 shows the Nokia logo on the door of the empty premises in Helsinki.MARKKU ULANDER | AFP | Getty Images Nokia saw its profits rise 22% to 316 million euros ($376 million) in the second quarter despite quarterly revenues falling 11% to 5 billion euros.  The mobile network equipment maker, which posted financial results for the April to June period on Friday, said the coronavirus crisis has reduced net sales by about 500 million euros for the first half of the year. However, it expects most lost sales to move to future periods. The Finnish firm, which is headquartered in Espoo, said it was able to boost profitability for the second quarter, and upgrade its...
    By YURI KAGEYAMA, AP Business Writer TOKYO (AP) — Shares were mostly lower in Asia on Friday as data and corporate earnings capture dismal portrayals of the coronavirus pandemic’s impact on world economies. Market players are monitoring financial reports to see how businesses have managed the fallout from the continued outbreaks of COVID-19. Some technology companies have bucked the trend and are showing positive results. But many companies are hurting. Investors also are looking ahead to central bank meetings in Britain, Australia, India, Russia and Thailand next week. On Wall Street, the S&P 500 and Dow Jones Industrial Average fell, but the Nasdaq composite gained. Japan's benchmark Nikkei 225 dropped 2.8% to 21,710.00, while South Korea's Kospi slipped 0.6% to...
    TOKYO (AP) — Shares were mostly lower in Asia on Friday as data and corporate earnings capture dismal portrayals of the coronavirus pandemic’s impact on world economies. Market players are monitoring financial reports to see how businesses have managed the fallout from the continued outbreaks of COVID-19. Some technology companies have bucked the trend and are showing positive results. But many companies are hurting. Investors also are looking ahead to central bank meetings in Britain, Australia, India, Russia and Thailand next week. On Wall Street, the S&P 500 and Dow Jones Industrial Average fell, but the Nasdaq composite gained. Japan’s benchmark Nikkei 225 dropped 2.8% to 21,710.00, while South Korea’s Kospi slipped 0.6% to 2,253.95. Australia’s S&P/ASX...
    MADRID, Jul 31 (.) – The net profit of the Spanish bank Caixabank increased 30% year-on-year in the second quarter of the year due to lower restructuring costs, despite having allocated 755 million euros ($ 898 million) to offset the impact of the COVID-19 pandemic in the period from April to June. The country’s third largest bank in terms of total assets announced on Friday a net profit of 115 million euros in the quarter. Analysts polled by . expected a net profit of 195 million euros in the quarter. (Information from Jesús Aguado, edited by Inti Landauro, translated by Tomás Cobos)
    PARIS (AP) — France's economy shrank by nearly 14% in the second quarter when the country was in coronavirus lockdown, a third consecutive quarter of negative growth in a worsening recession, the national statistics agency said Friday. The startling plunge of 13.8% from April-June starkly illustrated the punishing economic cost of the two-month lockdown. The pain was so damaging to jobs and industries that the government is talking down the possibility of another nationwide lockdown as infections tick upward again. France's economy was already slowing, shrinking by 0.2% in the last quarter of 2019, before the pandemic hit with full force. French GDP shrank by 5.9% in the first quarter of 2020 as COVID-19 patients started to flood and overwhelm...
    PARIS (AP) — France’s economy shrank by nearly 14% in the second quarter when the country was in coronavirus lockdown, a third consecutive quarter of negative growth in a worsening recession, the national statistics agency said Friday. The startling plunge of 13.8% from April-June starkly illustrated the punishing economic cost of the two-month lockdown. The pain was so damaging to jobs and industries that the government is talking down the possibility of another nationwide lockdown as infections tick upward again. France’s economy was already slowing, shrinking by 0.2% in the last quarter of 2019, before the pandemic hit with full force. French GDP shrank by 5.9% in the first quarter of 2020 as COVID-19 patients started to flood...
    By Nick Carey and Ben Klayman Jul 30 (.) – Ford Motor Co He said Thursday that he expects to post an annual loss, but said he should have enough cash on hand for the rest of 2020 even if demand falls further or the COVID-19 pandemic forces more vehicle assembly plants to close. Ford’s announcements became known when the company posted a quarterly profit on an investment by Volkswagen AG on its Argo autonomous driving unit, which more than made up for the loss caused by a coronavirus-induced production shutdown. Results and better-than-expected earnings prospects pushed Ford shares up 2.5% in post-close Wall Street trading. “Solid execution allowed us to deliver much better financial results than we had hoped...
            by Andrew Trunsky  The United States gross domestic product (GDP) fell 32.9% in the second quarter of 2020, the Department of Commerce reported, marking the largest decline the country has ever seen, according to CNBC. In addition to the record drop in GDP, The Department of Labor reported Thursday that over 1.43 million Americans filed initial claims for unemployment last week, marking a swift economic contraction as coronavirus cases continue to rise across the country. The report also comes as the $600-per-week unemployment benefits are set to expire on July 31, risking the financial security of millions of Americans. US GDP plunged by a record 33% in the 2nd quarter as coronavirus lockdowns raged https://t.co/oPMMDl1PV5 — Business Insider (@businessinsider) July...
    Amazon.com Inc. (NASDAQ: AMZN) was cautious in April when speaking of this year’s second quarter because of the new strains the Covid-19 pandemic placed on its logistic network. It hoped it could break on even some sales. And then the e-commerce company ended up breaking records for both its top and bottom lines. The company’s $88 billion in sales were better than in any quarter in its history, beating out the last Christmas holiday season by a clean $1 billion and performing 40% better than the second quarter of 2019, when it recorded $63.4 billion. Its $5.24 billion in net income is double that of the same quarter last year. “This was another highly unusual quarter, and I couldn’t...
    Former President Barack Obama delivers a rousing eulogy: America was built by John Lewises You Have to Try These Famous Sandwiches in Denver and Beyond Fords slumping sales buoyed by autonomous vehicle investment Ford reported Thursday that its revenues fell 50% in the second quarter, but it posted a profit due to Volkswagen's investment in its self-driving vehicle program, Argo AI. © Ford Motor Co All-new F-150 Lariat in Rapid Red Metallic Tinted Clearcoat. Ford announced a net income of $1.1 billion in the second three months of the year, aided by a $3.5 billion gain from VW's investment. Ford and VW now own equal stakes in Argo AI, which has said it will deploy its self-driving technology...
    Washington, DC (CNN Business)Ford reported Thursday that its revenues fell 50% in the second quarter, but it posted a profit due to Volkswagen's investment in its self-driving vehicle program, Argo AI.Ford (F) announced a net income of $1.1 billion in the second three months of the year, aided by a $3.5 billion gain from VW's investment. Ford and VW now own equal stakes in Argo AI, which has said it will deploy its self-driving technology in 2022.US car sales just had their worst quarter since the Great RecessionWithout the investment, Ford would have lost $1.9 billion, which it said was more than $3 billion better than it projected. Automakers have reported slumping sales during the Covid-19 pandemic. Ford stock increased...
    WILMINGTON, Del. (AP) — Chemours, the former performance chemicals unit of Dupont Co., is reporting a 75% drop in second-quarter earnings. The Wilmington-based company on Thursday reported net income of $24 million for the quarter ending June 30, one-fourth of the $96 million in profit for the corresponding period last year. Earnings per share fell from 57 cents to 15 cents. Net sales totaled slightly less than $1.1 billion, compared to $1.4 billion in the second quarter of 2019. Sales were down in all business segments, with across-the-board price declines and double-digit volume drops in the fluoroproducts and chemical solutions units. Sales volume in the titanium technologies segment was off 9%. The company attributed 22% lower volume for fluoroproducts primarily...
    A woman works at a distrubiton station at the 855,000-square-foot Amazon fulfillment center in Staten Island, New York, on February 5, 2019.Johannes EIsele | AFP | Getty Images Check out the companies making headlines after the bell:  Facebook — The social media giant's stock surged 6% in extended trading following the release of the company's second-quarter earnings. Facebook posted a double beat on earnings and revenue, reporting earnings of $1.80 per share on revenues of $18.69 billion. Analysts polled by Refinitiv predicted earnings of $1.39 per share on revenues of $17.40 billion. Even during a quarter impacted by the coronavirus pandemic, Facebook saw 11% in revenue growth. Gilead Sciences — Shares of the pharmaceutical company dropped 2% after the closing bell. Gilead...
    Manning Award releases its 30-player preseason watch list, including North Dakota State’s Trey Lance My Two-Year-Old Tested the New Lovevery Play Kit Subscription Box U.S. economy plunges at titanic 32.9% rate in 2nd quarter and points to drawn-out recovery ECONOMIC REPORT © Getty Images An airport employee performs an aircraft disinfecting demonstration at the Ronald Reagan National Airport. The U.S. economy cratered a record 32.9% in the second quarter because of the coronavirus pandemic. The numbers: An economy badly battered by the coronavirus shrank at a record 32.9% annual pace in the second quarter, underscoring just how big a hole the U.S. finds itself in as it labors to recover from the deepest recession in American history. The...
    Global COVID-19 cases surge by 2 million in 8 days Why did a tiny Long Island pizzeria get Trumps stamp of approval? Thank roiling local Facebook drama and a well-timed Fox Business segment U.S. Steel Is ‘Confident’ the Worst of 2020 in Rear-View Mirror (Bloomberg) -- U.S. Steel Corp. is confident the second quarter was the trough for the year, suggesting the worst may be behind the company after the impact of the pandemic forced shutdowns from automobiles to construction. © Photographer: Ty Wright Workers use torches to smooth down the welded joints on railroad suspension parts at the Columbus Castings facility in Columbus, Ohio The Pittsburgh-based company said it’s encouraged by the recovery in market conditions in the...
    Hockey comes home to Canada as NHL season resumes My Two-Year-Old Tested the New Lovevery Play Kit Subscription Box Ford sales halved in the second quarter Ford Motor Co. late Thursday reported a narrower-than-expected adjusted loss in the second quarter, with sales halved in comparison with a year ago but right at Wall Street forecasts. © Bloomberg News/Landov 2020 Ford Motor Co. F-150 trucks sit on display at a car dealership in Peoria, Illinois, in May. Ford (F) said it earned $1.1 billion, or 28 cents a share, in the quarter, including a $3.5 billion gain on investments in Argo AI and compared with earnings of 4 cents a share in the year-ago period. Load Error Adjusted for...