Ruth's Hospitality Group Inc, owner of the Ruth's Chris Steak House chain of restaurants, on Thursday said it would quickly repay $20 million of federal rescue loans it received to help maintain payroll through the coronavirus crisis, a program aimed at small businesses. The announcement came after the U.S. Treasury said a highly valued public company would have a hard time getting a coronavirus relief loan in the next round of funding....
(Bloomberg) -- Intel Corp. withdrew its full-year sales forecast, citing “significant economic uncertainty” caused by the Covid-19 pandemic. The company’s shares fell more than 5% in late trading.The world’s largest semiconductor maker reported a 23% jump in first-quarter revenue and better-than-projected profit, bolstered by demand for chips that run the laptops and server machines companies need to keep people working from home. Though it gave an optimistic second-quarter sales target, Intel’s profit outlook fell short of estimates, sparking concerns that a spending slowdown will drag on business for the rest of 2020.Sales in the current period will be about $18.5 billion, the Santa Clara, California-based company said in a statement Thursday. Analysts estimated $18.08 billion on average, according to data compiled by Bloomberg. Net income will be about $1.04 a share, compared with Wall Street expectations of $1.11.“Investors were caught off guard” by the profit forecast, Logan Purk, an analyst at...
Stock futures kicked off the overnight session roughly flat on the heels of a volatile trading day Thursday, with stocks whipsawed amid conflicting signals over the results of a clinical trial for a coronavirus antiviral treatment candidate....
The U.S. oil futures market was rocked at the start of this week as a growing glut of supply and weak demand put fund managers and retail investors in the position of potentially having to take possession of thousands of barrels of crude that they would not be able to store anywhere. TD Ameritrade told customers it would only allow closing trades in June and July U.S. crude futures contracts as well as in all U.S. crude options contracts. Two other brokerages, London-based Marex Spectron and INTL FCStone, said they were limiting new positions being taken up after the high-volatility trading on Monday delivered big losses to holders of that contract....
The U.S. oil futures market was rocked Monday as a growing glut of supply and weak demand put fund managers and retail investors in the position of potentially having to take possession of thousands of barrels of crude that they would not be able to store anywhere. TD Ameritrade told customers it would only allow closing trades in June and July U.S. crude futures contracts as well as in all U.S. crude options contracts. Two other brokerages, London-based Marex Spectron and INTL FCStone, said they were limiting new positions being taken up after the high-volatility trading on Monday delivered big losses to holders of that contract....
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]...
