J.C. Penney Co Inc is exploring filing for bankruptcy protection after the coronavirus pandemic forced the U.S. retailer to temporarily shut its 850 department stores, upending its turnaround plans, according to people familiar with the matter. The Plano, Texas-based company has access to enough cash to survive in the months ahead, even as revenue dries up because of the store closures, the sources said....
Stock futures were roughly flat Tuesday evening as investors considered ongoing signs that coronavirus cases were leveling off in some hot spots in the U.S., helping brighten the prospects that social distancing measures would be lifted and business activity would eventually resume....
Princess Cruises had previously said it would suspend the voyages of all its 18 ships till May 10, but the U.S. Centers for Disease Control and Prevention last week extended its "no sail order" for all cruise ships for up to 100 days. Carnival's Chief Executive Officer, Arnold Donald, said the company is "working very hard" at seeking more liquidity options, as the cruise industry gets upended by travel bans and thousands of cancellations driven by the virus crisis....
"Those medical people on the front lines are heroes. We are the supply line," says truck driver Jeff Clark, who shares his thoughts about being on the road during the COVID-19 pandemic. ...
Ken Leon, CFRA Analyst, joined Yahoo Finance's Jen Rogers, Myles Udland, Dan Roberts, and Melody Hahm to discuss JPMorgan and Wells Fargo earnings reports. ...
P&G, which was previously scheduled to release its results on April 21, also said its decision to release earnings ahead of schedule should not be seen as an indication of positive or negative results. P&G and other consumer staples companies have seen the coronavirus outbreak create a surge in demand for toilet papers and other household products, with lockdowns imposed to curb the disease's spread making many customers hoard essential items. It declared a quarterly dividend of 7.907 cents per share on its common stock, up from 7.459 cents in the prior quarter....
