Earnings at Chevron were $3.6 billion in the quarter, up 38% from $2.6 billion during the same period last year and boosted by $1.6 billion in asset sales in the Philippines and Azerbaijan. Total revenue and other income fell more than 10% to $31.50 billion in the quarter....
Stock futures were lower Friday morning after the latest batch of corporate earnings results suggested a grim outlook for the current quarter and President Donald Trump threatened retaliation on China over the coronavirus pandemic....
A bounce in stocks is likely to face a test in the coming weeks as investors try to gauge whether countries and U.S. states emerging from lockdowns can arrest a sharp fall in economic growth without provoking a resurgence of coronavirus cases. The S&P 500 has rallied about 30% off its March lows, fueled by monetary and fiscal policy designed to stimulate the economy after the United States ordered country-wide lockdowns to stop the spread of the novel coronavirus, which has surpassed 1 million cases in the United States. “If you see a number of cases for a particular state that has opened up early starting to increase... that is going to be a worrisome sign," said Robert Pavlik, chief investment strategist at SlateStone Wealth....
It's been a while since I've written about Aurora Cannabis (NYSE:ACB), or any of the cannabis companies, for that matter. So, when I noticed that Aurora stock was available to cover today at InvestorPlace, I jumped at the opportunity. Source: Shutterstock The only thing is, as I said, I haven't covered it in a while. So, I was shocked to see it was trading at just 75 cents. When I last wrote about Aurora in late February, former CEO Terry Booth had recently stepped down as the top dog at the Edmonton cannabis producer, and its stock was around $1.65 a share. My prognosis for Aurora was that it was a speculative bet, at best, but not worth most people's consideration until it got its act together. InvestorPlace - Stock Market News, Stock Advice & Trading TipsIs it there yet? I couldn't tell you, but what I do know is that...
The U.S. government's $660 billion small business rescue program has stumbled on missing paperwork, technology failure, and the misdirection of funds to big corporations. The second round of the Small Business Administration's Paycheck Protection Program launched on Monday, allowing lenders to issue forgivable, government-guaranteed loans to small businesses shuttered by the novel coronavirus outbreak. Smoothing the forgiveness process is critical for the program to succeed, but a lack of government guidance on the related calculations and necessary documentation could land borrowers and banks alike with billions in unexpected debts....
Lufthansa's chief executive has warned against government interference in the airline's management as it seeks a 9 billion euro ($9.91 billion) state bailout as a way to survive the corona pandemic. Travel bans have forced the German group to ground 700 of its aircraft, leading to a 99% drop in passenger numbers and causing the group, which includes Swiss, and Austrian Airlines, to lose about one million euros in liquidity reserves per hour. Reuters reported on Wednesday that Lufthansa is negotiating a 9 billion euro bailout, with loans from Austria, Germany and Switzerland, citing a source close to the matter....
