Like most companies this earnings season, it will hardly be news if Apple, Inc. (NASDAQ: AAPL) reports earnings this week that its quarter was a rough and tumble one.The likelihood of bad news has been widely reported about the Cupertino giant, including by the company itself. AAPL withdrew its quarterly guidance--which was arguably rather tepid to begin with--weeks ago. Although, to be fair, the company has a history of being conservative with its guidance.But given a Wall Street Journal story this week that the pandemic has become a double whammy for AAPL's latest iPhone 11--apparently it's inhibiting manufacturing across Asia and battering consumer demand around the world--investors and analysts may be tuning in more closely to what's ahead.Could that report be right, and if so, what sort of impact could it have on 2020 and beyond? That's just one big question when AAPL--one of the largest companies in the world by...
(Bloomberg) -- Ford Motor Co.’s sagging stock fell further after the automaker forecast a more than $5 billion second-quarter operating loss due to the coronavirus pandemic’s blow to the global car industry.Volumes will decline significantly in every region during the three months ending in June, and the economic environment is too unclear to give full-year guidance, the second-largest U.S. automaker said Tuesday. Ford shares fell as much as 7.4% in late trading after closing down 42% year-to-date.The economic crisis caused by the pandemic is devastating Ford’s efforts to recover from three consecutive annual earnings declines. Chief Executive Officer Jim Hackett’s execution of an $11 billion global reorganization was undermined last year by the botched launch of the Explorer sport-utility vehicle. Before the coronavirus hit, Hackett was counting on a raft of new models to start reversing the company’s fortunes.“We must not only weather this crisis; we need to emerge from it...
Approximately 800,000 masks will be made available for truck drivers on high-truck-volume lanes at more than 30 locations in such states as Georgia, New York, California, and Texas. ...
Department store stocks and other shopping mall retail stocks already struggling to compete with Amazon.com, Inc. (NASDAQ: AMZN) and other online competitors have been decimated by COVID-19 related store closures.Past U.S. recessions created long-term buying opportunities within the department store group, but traders may need to be a bit more creative this downturn to protect their investments.Department Store StocksBerna Barshay, editor and research analyst at Empire Financial Research, on Monday discussed the outlook for department store stocks and why many of them aren't obvious buy-the-dip opportunities.A surge in department store credit default swap sales suggests hedge funds are growing increasingly concerned than many department stores may be unable to avoid bankruptcy. Hedge funds buy CDSs as a way to either hege a long position in a stock or establish a short position in a company in financial distress.Fighting For SurvivalOne stock that appears to be in particularly dire financial straits is...
