In the Covid-19 pandemic while people are locked inside, many pundits push the narrative that a great number of airline, cruise line, and oil and energy stocks are on a clear path toward filing for bankruptcy. And one stock that a lot of people are looking at now is General Electric (NYSE:GE).Source: Sundry Photography / Shutterstock.com Of course, travel has cratered during the pandemic. The U.S. Travel Association estimates that this could equate to $910 billion in losses to the travel industry and potentially cost 4.6 million Americans their jobs.Most planes are grounded, cruise ships are anchored in ports, people aren't moving around, and the oil that turns the gears of the U.S. economy isn't being burned.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBut all of this doesn't mean that every airline, travel company, and oil stock is doomed. Likewise, significant exposure in the aforementioned industries does not indicate...
(Bloomberg) -- Boeing Co. sold $25 billion of bonds in the largest offering this year, as the company comes off of one of its worst quarter on record with the pandemic upending the global aviation industry.The airplane manufacturer is burning through the most cash it ever has with travel at a standstill. Boeing was already hurting from the grounding of the 737 Max before the Covid-19 outbreak, but now it’s looking to shore up liquidity even further by cutting jobs and production.Boeing has already fully drawn on a nearly $14 billion term loan, and Thursday’s bond sale will add even more cash as the company received $70 billion of orders at the peak, a person with knowledge of the deal said. Boeing was originally targeting at least $10 billion of new debt, Reuters reported earlier this week.The bond sale caps off another record month for U.S. investment-grade issuance, surpassing March’s $259...
Apple beat on both top and bottom lines in its second quarter earnings report, which it announced after hours on Thursday. The tech company saw a record amount of sales in its wearables section, but other products such as iPhones and iPads were down compared to the year prior. Yahoo Finance’s Myles Udland breaks down Apple’s earnings report. ...
(Bloomberg) -- Tesla Inc. shares closed 10% below their intraday high after hedge fund manager David Einhorn publicly questioned Elon Musk again over the electric-car maker’s accounting practices.Einhorn, who five months ago told Musk he was “beginning to wonder whether your accounts receivable exist,” said Tesla had claimed in the past that its balance of money owed was elevated by sales being highly concentrated at the end of each quarter. The Greenlight Capital president questioned how that could have been the case at the end of March given the shutdowns that Musk, 48, excoriated on Wednesday.“Can you or Zack explain?” Einhorn, 51, wrote in a tweet to addressed to Musk and referring to Tesla’s chief financial officer, Zachary Kirkhorn. Einhorn also asked how the company’s automotive margins “barely budged” despite production disruptions, the cost of ramping up the new Model Y and other factors.Tesla shares closed down 2.3% after erasing an...
