(Bloomberg) -- U.S. airlines sank after United Airlines Holdings Inc. said travel demand was “essentially zero,” with no sign of improvement in the near term.United’s dire tone underscored the depth of the crisis for the nation’s carriers despite billions of dollars in assistance from U.S. taxpayers. With the Covid-19 pandemic and government travel restrictions forcing people to stay home, United predicted it would fly fewer people during all of next month than on a single day in May 2019.The airline will further reduce its flight schedule in May to roughly 10% of what it had planned at the start of 2020, and similar cuts are in store for June, said Chief Executive Officer Oscar Munoz and President Scott Kirby. The U.S. rescue package signed into law last month will help airlines pay employees while obliging the companies not to cut jobs through Sept. 30. But in the longer term, United signaled...
During a Wednesday conference call, Johnson & Johnson (NYSE: JNJ) executives inadvertently made the case for buying Walt Disney Co (NYSE: DIS), Visa Inc (NYSE: V) and Mastercard Inc (NYSE: MA), according to CNBC's Jim Cramer.Cramer Sees 'Something Compelling' From Johnson & Johnson Johnson & Johnson's post-earnings conference call focused in part on its ongoing efforts to develop a coronavirus vaccine, Cramer said on his "Mad Money" show.Management displayed a confident tone and suggested it has "something compelling up their sleeves," the CNBC host said. The call was so compelling that investors should have left wishing they owned stocks with exposure to travel or leisure, such as Disney, Visa, and Mastercard, he said. Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.Cramer Says 'Toxic' Stocks Might Be A Buy Johnson & Johnson is "experienced" at producing vaccines and...
Keith Bliss, Managing Partner and CEO at iQ Capital, joins Yahoo Finance’s Alexis Christoforous and Brian Sozzi to discuss how the markets are faring amid coronavirus....
