Showing posts from March, 2020

Market Insider | Biggest Moves Premarket: Stocks making the biggest moves in the premarket: Conagra, Carnival, RH, Visa & more

Peter Schacknow 4-5 minutes Take a look at some of the biggest movers in the premarket : Conagra (CAG) – The food producer missed estimates by 2 cents a share, with fiscal third-quarter profit of 47 cents per share. Revenue also came in slightly short, however Conagra said it has seen significantly elevated demand for its food products over the past few weeks due to the virus outbreak. The company now expects to exceed its full-year sales and profit guidance. Carnival (CCL) – The cruise line operator is suspending dividend payments and stock repurchases, as voyage suspensions continue amid the coronavirus outbreak. Carnival said it could not estimate the impact of COVID-19 on its business, but expects a net loss for fiscal 2020. McCormick (MKC) – The spice maker earned $1.08 per share for its latest quarter, 5 cents a share above estimates. Its revenue was below forecasts, however, as results were impacted by the coronavirus

Analysis | The Cybersecurity 202: Coronavirus response is officially a new front in the election security fight

By Joseph Marks 13-16 minutes - Source: The Washington Post A woman wearing mask and protective gloves leaves after cast her vote during the Florida Democratic primary election in Miami, Florida. ( Photo by Eva Marie UZCATEGUI / AFP)  THE KEY The brief detente in partisan bickering over how to ensure people are safe to vote – and their votes are safe – amid the coronavirus pandemic just burst into open warfare.  President Trump suggested on Fox and Friends that one reason he opposed a $4 billion infusion of election money Democrats sought for the coronavirus stimulus was that it might have led to more Democratic victories. Democrats wanted the money to go toward expanding secure vote by mail or early voting options to reduce the risk of people getting infected, should the pandemic still pose risks by November. “They had things, levels of voting that if you ever agree to it, you’d never have a Republican elected in this

Market Insider: Stocks could get a buying boost on Tuesday from a Wall Street technical phenomenon

Patti Domm 4minutes - Source: CNBC A man walks by the Wall Street subway sign on March 23, 2020 in New York City. Angela Weiss | AFP | Getty Images Some traders are looking for a surge in stock buying on Tuesday as fund managers rebuild their stock holdings in the final hours of the worst quarter for the Dow since 1987. That’s because as stocks lost ground, pension funds’ allocation to equities shrank, and as bonds rallied, those assets in their portfolios increased. In addition to pensions, other funds and investors may also see the need to conduct a rebalancing to shift the mix back by Tuesday’s closing bell, the end of the month and the first quarter. That simply means they could sell bonds and buy stocks. “The rebalancing story is something everybody is watching very closely. It might help temporarily prop up some asset prices, either directly or via the expectations it might happen,” said Jon Hill, senior BMO rat

Morning Mix: Fauci socks, Fauci donuts, Fauci fan art: The coronavirus expert attracts a cult following

Antonia Noori Farzan 6-7 minutes - Source: The Washington Post Early last week, Nick Semeraro decided that he wanted to find a way to honor Anthony S. Fauci. As the owner of a small doughnut shop in Rochester, N.Y., he had been closely tracking the latest news about the coronavirus pandemic. And night after night, he’d been impressed by how Fauci, the director of the National Institute of Allergy and Infectious Diseases, approached the crisis in a calm, knowledgeable manner. So, as a tribute, Semeraro put the renowned immunologist’s face on a doughnut. Expecting to sell a few hundred, he was shocked when the store sold out day after day, with thousands flying off the shelves. Donuts Delite was besieged with requests to ship the buttercream-frosted creations all over the country, and one Fauci fan drove three hours just to pick up a dozen. Soon, bakeries in Wisconsin and Pennsylvania followed suit, using edible paper to decorate past

World Economy: South Africa looks to structural reforms as it loses its last investment-grade credit rating

Elliot Smith 5-6 minutes - Source: CNBC PRETORIA, SOUTH AFRICA - MARCH 16: Finance minister, Tito Mboweni briefs the media on the details of government interventions in various sectors of the departmental portfolios on COVID-19 at DIRCO Media Centre. Phill Magakoe/Gallo Images via Getty Images South Africa has lost its last remaining major investment-grade sovereign credit rating, as existing economic weakness is compounded by the potential impact of the global coronavirus pandemic. South Africa has no investment-grade sovereign credit rating from any of the major ratings agencies for the first time since its return to global markets in 1994. Moody’s announced on Friday that it had cut the country’s last investment-grade rating to “junk,” sending the Rand to an all-time low of below 18 to the dollar. Standard & Poors and Fitch both downgraded Africa’s most industrialized economy to sub-investment grade in 2017. In i

Opinion: The winners and losers of the coronavirus’s global test of governance

Jackson Diehl 5-6 minutes - Source: The Washington Post An emergency tends to reveal the core character of national leaders, along with that of the political systems that produced them. What’s truly exceptional about the coronavirus pandemic is that it is confronting scores of countries simultaneously with the same awesome challenge. We are learning a lot about the state of global governance as a result. In one category are the democratic populists, such as President Trump, Brazilian President Jair Bolsonaro and Mexico’s Andrés Manuel López Obrador. Their response to the spread of the novel coronavirus has been to spew misinformation, minimize the threat and dodge accountability. Trump predicted the virus “is going to disappear .  . . like a miracle.” Bolsonaro dismissed it as no more than a “little cold.” López Obrador said there was no reason for people to stop hugging and kissing, because “nothing happens.” All three resi

Coronavirus Live News: World Bank warns of 'unprecedented global shock' as US records its deadliest day

Ian Sample 3minutes - Source: The Guardian The United Arab Emirates has extended a daily overnight curfew for a nationwide disinfection drive to April 5, but Dubai announced late on Monday that a 24-hour curfew would be imposed on Al Ras district for two weeks starting Tuesday. “I am glad they are doing this because it is for our protection,” said one rice trader who works in Al Ras but resides in Sharjah emirate. The trader, who declined to be named, told Reuters he is now conducting his business online. Dubai closed the main road entrances to Al Ras and halted public transport to the area, which abuts Dubai Creek, where dhow have been banned from transporting goods between Dubai and Iran, a regional epicentre for the virus. Dubai Health Authority will provide essential supplies to Al Ras residents, Dubai Media Office tweeted. The UAE has confirmed 611 coronavirus cases, with five deaths. The total number of infections in

Business: American Airlines to seek $12bn US government aid

2-3 minutes - Source: BBC Image copyright Getty Images American Airlines has confirmed it will seek $12bn (£9.7bn) of financial support from the US government because of the impact of coronavirus . Employees were told in an email this "would allow us to fly through even the worst of potential future scenarios". It said it would mean "no involuntary furloughs or cuts in pay rates or benefits for the next six months". Staff will also be offered "enhanced voluntary leave and early retirement options". Last year the company made a $2.9bn profit and returned $1.3bn to shareholders via dividends and buybacks, according to Bloomberg. Under the massive $2.2tn coronavirus relief bill passed by the US Congress last week, $50bn was set aside f

Oil Pices: Oil prices are on track for their worst ever quarter as coronavirus slashes demand

Sam Meredith 4minutes - Source: CNBC A pumpjack near the Yamashinskoye rural settlement in the Almetyevsk District. Yegor Aleyev | TASS via Getty Images Oil prices are on pace to register their worst quarterly performance on record, as the coronavirus pandemic continues to crush global demand for crude. A public health crisis has meant countries around the world have effectively had to shut down, with many governments imposing draconian measures on the daily lives of hundreds of millions of people. The restrictions have created an unprecedented demand shock in energy markets, ramping up the pressure on companies and governments reliant on crude sales. To date, more than 787,000 people have contracted COVID-19 worldwide, with 37,829 deaths, according to data compiled by Johns Hopkins University. International benchmark  Brent  crude traded at $23.36 a barrel Tuesday morning, up more than 2.6%, while  U.S.  West Texas Int

US Market | Futures Indicator: Stock futures positive again in choppy trade, building on market's rebound from massive coronavirus sell-off

Yun Li 3-4 minutes - Source: CNBC Stock futures were positive in choppy trading early Tuesday morning, following the market's rebound from its deep rout triggered by the coronavirus pandemic. At 4:35 a.m. ET, futures on the Dow Jones Industrial Average  were 162 points higher, pointing to an implied opening rise of more than 136 points at Tuesday's open.  S&P 500 futures and Nasdaq-100 futures also pointed to opening gains for the two indexes. Earlier, futures had pointed to opening losses for the three indexes. The overnight action followed a strong session on Wall Street, with the Dow jumping nearly 700 points led by an 8% pop in Johnson & Johnson after it announced a vaccine candidate for the coronavirus . The S&P 500 rallied 3.4%. Investors embraced a more realistic government approach to contain the pandemic. President Donald Trump  extended the timeline for social distancing guidelines to April 30 , which

US Coronavirus' Paycheck Calculator: This calculator tells you exactly how big your coronavirus stimulus check could be

Kathleen Elkins  4-5 minutes - Source: CNBC The $2 trillion stimulus bill in response to the COVID-19 pandemic  was passed by the House on Friday and signed by President Donald Trump. The plan includes a one-time direct payment to Americans, which Treasury Secretary Steven Mnuchin said  should arrive within three weeks . Individuals will receive up to $1,200, married couples will get up to $2,400 and $500 will be added for every child. There are income restrictions: If you earn more than $75,000 as an individual or $150,000 as a couple, the total amount you’re eligible to receive starts to decrease. If you earn $99,000 or more as an individual or $198,000 as a couple, you aren’t eligible to receive a stimulus check. To help you figure out how much money you’ll likely receive, Grow , a personal finance website published by CNBC and Acorns,  created a calculator that factors in your filing status, annual income and the number of kids you have. How much could yo