Deere Shares Drop Despite Q2 Earnings Beat
The company's farm equipment sales held up better than construction equipment amid the coronavirus pandemic.
HPE Has ‘Tough’ Quarter With 16% Sales Drop
CFO Tarek Robbiati attributed the revenue decline primarily to supply chain disruption, which resulted in “significantly higher” levels of backlog.
Another 2.4M Workers File First-Time Jobless Claims
"The states may be opening back up, but the labor market is still closed for millions across America."
Shopping Shifts Squeeze Target Profit in Q1
The retailer's sales jumped 11.3% but margins were pressured as consumers switched to e-commerce amid the coronavirus crisis.
SmileDirect Sees Telehealth Boost From COVID
The company's Q1 results missed estimates but its performance "validates the strength, durability and flexibility of our business model.”
HSBC Sets Aside $3B for Virus Loan Losses
“We are anticipating deep, severe recession events in western Europe and the U.S. in the second quarter."
Coke Warns of Q2 Hit From Virus Lockdowns
The soda giant has already seen "significant changes in consumer purchase patterns, notably substantial declines in away-from-home channels."
Jobless Claims Hit Record 22M Over Four Weeks
Weekly claims since the coronavirus shut down the economy now exceed the number of jobs added since the Great Recession.
Goldman Profit Dives on Big Investment Losses
“We were on a good roll through January and February. Then came March," CFO Stephen Scherr says.
IMF Predicts Worst Slump Since Great Depression
The Fund now expects the global economy to contract by 3% this year due to the coronavirus pandemic.
Ford Expects Loss But Says Cash Position Strong
“We believe we have sufficient cash today to get us through at least the end of the third quarter" despite the coronavirus shutdown.