(Bloomberg) -- Steel producers are the most shorted North American materials stocks heading into the first earnings season of 2020, which will provide investors with a better picture of the mayhem caused by the Covid-19 pandemic.U.S. Steel Corp. and Cleveland-Cliffs Inc. are the two most shorted materials stocks, according to IHS Markit data. U.S. Steel has 53% and Cleveland-Cliffs has about 29% of its free float shorted by bears who are betting the stocks will fall.The steel industry has been upended by the coronavirus outbreak, with governments imposing lockdowns to try to prevent the spread of the disease. Last week, data from the American Iron and Steel Institute showed U.S. steelmakers are using less of their plant capacity than at any time since shortly before Donald Trump became president. Cleveland-Cliffs said earlier it will temporarily idle production at two of its iron ore mining operations, citing “extraordinary disruptions” in manufacturing and...
Johnson & Johnson’s stock surged on Tuesday after the company released its earnings, surpassing wall street's estimates amid the coronavirus. Johnson & Johnson CFO Joe Wolk joins Yahoo Finance’s On The Move to break down the latest earnings report and development of the company's coronavirus vaccine....
Approximately two years ago, several owners of independent repair shops — ones not affiliated with a specific manufacturer — felt the need to band together to form a group that would allow them to better promote their business interests while also providing a more consistent service experience for fleets. ...
