(Bloomberg) -- China’s consumers are shopping online again. But their purchases signal they plan to stay indoors for the foreseeable future, dashing hopes for a spending recovery as the nation contemplates its post-virus world.Lunch boxes saw 120 times more searches in the last 30 days as the virus pushes people to prepare their own food even after returning to the office, according to March 26 data from Index.1688, which collects information from Alibaba Group Holding Ltd.’s shopping sites.Portable tableware, foldable spoons and work clothing also surged in popularity, while items typically given as gifts or used for travel and outdoor activities haven’t shown signs of recovery.Yoga mats and hula hoops for home exercise also climbed in demand, a bad sign for gyms waiting for the return of patrons.The data undermines predictions of a V-shaped recovery in the world’s biggest consumer market that has seen more than 80,000 infections and 3,000 deaths...
The coronavirus is not entirely indiscriminate in claiming economic victims: some companies seem much more immune than others.Amazon.com, Inc. (NASDAQ: AMZN) and Chewy Inc (NYSE: CHWY) are among the conquering corporations, according to Jefferies, while eBay Inc (NASDAQ: EBAY) and Etsy Inc (NASDAQ: ETSY) are expected to suffer defeat.Analysts are projecting an overall increase in customers for Amazon, flat growth for Chewy and declines for eBay and Etsy.Their business models may explain why.> Amazon and Chewy are winning the online battle during the coronavirus. EBay and Etsy getting crushed. $EBAY $ETSY $AMZN $CHWY pic.twitter.com/5tTTBtzyAA> > -- Brian Sozzi (@BrianSozzi) March 29, 2020Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.Amazon The e-commerce site and delivery service is deemed "essential" in many sheltered states and has been given permission to continue operations. With competing brick-and-mortar retailers shuttered, shoppers have...
Stocks ended Tuesday’s session lower, closing out the worst quarter for the Dow since 1987 and its first three-month start to the year on record. Yahoo Finance's Jen Rogers, Myles Udland, and Jared Blikre discuss. ...
Canadian cannabis company CannTrust Holdings Inc. (NYSE: CTST) (TSE:TRST) has acceded to creditor protection under CCAA.Trading of CannTrust has been stopped on the Toronto Stock Exchange and in New York. The company is expected to be delisted from both exchanges as a result of filing the for creditor protection.CannTrust stated that this decision was taken in order to preserve the companies best interest."While today's news was a foregone conclusion, in my view, it is a stark reminder of how this industry and its actors are beholden to higher standards than most consumer product categories," Matt Markiewicz, Managing Director of Innovation Shares, which is behind the Cannabis ETF (NYSE: THCX), told Benzinga. "There should be no gray area when compliance is involved and CannTrust, along with its investors, have now paid a heavy price for violating Health Canada's rules."See Also: How Legalizing Cannabis Could Ease Government Shortfalls Once Coronavirus Pandemic Is OverAlthough...
(Bloomberg) -- The confluence of the coronavirus outbreak and a global oil price war roiled Canada’s stocks this quarter, wiping out about $750 billion in value. But while the financial devastation was widespread, some corners of the market stayed afloat.The S&P/TSX Composite has plunged 22% this year, the worst quarter since 2008, with about less than 10% of its stocks eking out gains and all sectors in the red.Here’s a look at some who benefited -- and companies that have suffered this quarter.Winners:Ballard Power Systems Inc. (+15%): In the hunt for ESG trades, investors continue to hunt for clean-tech companies.Shopify Inc. (+14%): The e-commerce company that helps merchants create an online presence has been able to generate sales despite the closing of physical stores.Real Matters Inc. (+14%): Tech stocks have provided a modicum of shelter due to their strong balance sheets and cash flow.Innergex Renewable Energy (+14%): Independent power producers and...
