Cisco Systems Inc on Tuesday launched a $2.5 billion financing program that lets its customers defer 95% of payments until 2021, giving companies additional leeway at time when some are facing a cash crunch but also need more remote-work tools. As the coronavirus forces many businesses to operate entirely online, many of them have adopted or boosted usage of video conferencing and virtual private network software, including Cisco's Webex and AnyConnect. The surge in internet activity has also increased usage of networking equipment that Cisco also sells....
Stock futures rose Tuesday morning as investors braced for what is expected to be a choppy earnings season, as the coronavirus pandemic swept the country at the end of the first quarter....
Oil and natural gas stock Chesapeake Energy (CHK) has announced that shareholders have now approved a reverse stock split, at a ratio of 1-for-200.With shares now trading at just $0.16, the reverse split is intended to increase the per share trading price to satisfy the $1 minimum bid price requirement for continued listing on the NYSE.As a result of the reverse stock split, 200 shares of CHK’s common stock will automatically combine into one share, and the number of shares of common stock outstanding will be accordingly reduced from roughly 1.96 billion to 9.78 million.The split will become effective at 5PM April 14, 2020, with trading of the split-shares resuming under the existing trading symbol “CHK” on April 15, 2020.Overall, analysts rate CHK a Strong Sell, according to TipRanks. In the last three months, 7 analysts have published sell ratings on the stock with only 1 analyst staying on the sidelines....
