United is paying flight attendants until Sept. 30 thanks largely to $5 billion the airline is receiving in government payroll aid under the CARES Act, which prohibits any job or pay cuts for employees before October. Chicago-based United and other airlines have begun to share more details with employees about the scale of their dilemma in trying to match crews and fleets to an uncertain recovery from the economic crisis sparked by the new coronavirus pandemic, which has sent the global economy into a tailspin. United's flying schedule is down by about 90%....
(Bloomberg) -- An armada of tankers filled with Saudi Arabian crude steaming toward the U.S. threatens to prevent America’s oil glut from draining, which is only just beginning.Over 30 ships are set to arrive on the U.S. Gulf Coast and West Coast during May and June, according to ship tracking data compiled by Bloomberg. The more-than 50 million barrels of Saudi crude on the water threaten to upend a positive supply development: U.S. crude stockpiles declined for the first time since January and inventories at the Cushing, Oklahoma storage hub contracted by the most in months.The U.S. is facing a tsunami of Saudi oil -- the lingering effect of a price war between Riyadh and Russia back in March -- that led the Middle East nation to slash pricing of its grades to multi-year lows and flood the market. The wave of supply occurred even as the Covid-19 pandemic was beginning...
Electric vehicle pioneer Tesla Inc (NASDAQ: TSLA) is going all out to make alternative energy vehicles more affordable for consumers.Tesla Working On New Battery The Elon Musk-led company is working on a new battery for its Model 3 vehicles in China that confers two advantages, low cost and long life, Reuters reported Thursday. More details could be come at Tesla's Battery Day, with Musk hinting on the first-quarter earnings call that the event could be held in the third week of May.When asked for a preview of the event, Musk said: "We want to leave the exciting news for that day, but there will be a lot of exciting news to tell. And I think it would be one of the most exciting days in Tesla's history."Competitive With Gasoline Vehicles The new batteries are reportedly made to last for 1 million miles, which would help sell Tesla's EVs at the same...
Cisco Systems Inc (NASDAQ: CSCO) reported its third fiscal quarter that ended in April, unlike most recent earnings report that reflected results throughout only March. There's no doubt, Cisco felt the turbulence alright. There was a piece of good news due to video conferencing along with being slightly ahead of Wall Street projections, shares rose 2% following the results on Wednesday.Q3 Earnings ReportRevenue of $12 billion fell 8% year-over-year which is the company's worst decline in six years. And the midpoint of its forecast for the next quarter represents an even bigger drop of 9.5%--the worst in more than a decade. But at least both the latest revenue and the forecast ended up being more optimistic than Wall Street. Per-share adjusted earnings of 79 cents confidently exceeded analyst estimates of 71 cents. And the bright side, the closely watched service, and security segments achieved revenue growth in the quarter. As expected,...
With equities on the ropes this week, it's time we looked at the best bear trades to bank on for the next market drop.The stock rebound since March has been violent. Its duration and magnitude have caught many traders by surprise, particularly those obsessing over the grim economic data. That said, trying to reconcile rising asset prices on Wall Street with the warzone on Main Street has generated more than a little cognitive dissonance.However, spectators convinced that the chickens would eventually come home to roost are seeing their forecast play out this week. Stocks are falling anew, especially in the most economically sensitive areas like small-caps.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 20 Stocks to Buy If You're Still Betting on America to Thrive So, rather than try to pick which individual stocks, we're focusing instead on playing the weakest industries. There are many to choose from,...
We're in unprecedented times thanks to the novel coronavirus. That goes double for investors, as they try to figure out what stocks and assets are worth owning at this stage of the game. With gold always a fixture, are gold stocks worth owning at this point?Source: Shutterstock That answer really depends on the situation.Overall, I am bullish on gold, but there are doubts. With so many other investors watching the yellow metal and seemingly bullish on it as well, it's a bit concerning. Anytime there is too much focus on one asset or stock is exactly when it seems to disappoint the majority.InvestorPlace - Stock Market News, Stock Advice & Trading Tips It All Starts With GoldBefore we talk about gold stocks, we have to talk about gold. Because you can't be bullish or bearish on the group without having an opinion on the metal first. It's like judging energy producers...
