U.S. Job Gains Slow to 1.8M in July
"The downturn was so big — the hole that was dug was so deep — that it will still take probably at least a couple of years to dig ourselves out."
Zynga Rides Gaming Binge to Record Quarter
“We are living in unprecedented times and more people than ever before are turning to games for entertainment and a sense of community."
Teladoc Buys Livongo in Telemedicine Mega-Deal
The $18.5 billion merger underscores the growth potential of telemedicine as the coronavirus pandemic accelerates the use of virtual health platforms.
BP Halves Dividend, Posts $16.8B Loss in Q2
The energy giant was forced to write down the value of exploration assets by $6.5 billion due in part to the decline in oil and gas prices.
Stay-at-Home Demand Drives Apple Growth
The company reported increased third-quarter sales across all its products, with even the iPhone up more than 1% from a year ago.
U.S. Economy Shrinks by Record 32.9% in Q2
“It’s a very deep and dark hole and we’re coming out of it, but it’ going to take a long time to get out.”
PayPal Crushes Estimates, Posts 25% Sales Gain
“Our record performance in the second quarter — our strongest quarter ever — reaffirms the relevance of PayPal in the unfolding digital future."
GM Posts $806M Loss, 47% Drop in Sales
The automaker sees stronger sales ahead with its plants now back in production after coronavirus-related shutdowns.
Visa Profit Drops 23% as Card Spending Slows
Payments volume improved as the third quarter progressed, reflecting the easing of shelter-in-place orders in the U.S.
U.S. Durable Goods Orders Jump 7.3% in June
“The sugar rush from re-openings has now faded and a resurgence of domestic coronavirus cases ... will weigh heavily on business investment."
Mattel Beats Estimates But Sales Drop 15%
The toymaker's “sluggish sales are in stark contrast to the overall success the toy industry has seen in the wake of the coronavirus pandemic."