Ally Financial’s Profit Drops by More Than Half
“We saw steady improvement throughout the [second] quarter as shelter-in-place orders eased and dealers quickly adapted to the COVID environment."
Housing Starts Rebound With 17.3% Increase
“With a staggering 32 million Americans collecting unemployment checks and lumber prices at a two-year high, a robust housing market is unlikely.”
Netflix Adds 10 Million Subs But Stock Slides
As "consumers get through the initial shock of COVID and social restrictions," Netflix sees subscriber growth slowing to 2.5 million in the third quarter.
Delta Reports Biggest Loss Since 2008
“We continue to believe that it will be more than two years before we see a sustainable recovery.”
HPE Buys Silver Peak in SD-WAN Push
The $925 million deal reflects the growth potential of software-defined wide-area networking as businesses employ more remote workers.
New York & Co. Owner Files for Bankruptcy Protection
RTW Retailwinds said it plans to permanently close most, if not all, of its stores.
IEA Raises Oil Demand Forecast for 2020
The organization also warned that the recent surge in COVID-19 cases could threaten the market's recovery.
Walgreens Swings to Loss as COVID Hits Sales
The pandemic had an adverse impact on sales in the third quarter of about $700 million to $750 million though sales rose in the U.S.
Another 1.3M Americans File for Unemployment
“Firms anticipate holding their employment levels roughly constant over the second half of 2020 and then ramping up hiring in 2021.”
CFOs Are Relying on Banks to Keep Short-Term Cash Safe
Many increased their short-term investments in products offered by banks compared with 12 months ago, according to the AFP.