Johnson & Johnson (JNJ) – J&J reported quarterly profit of $2.30 per share, beating the consensus estimate of $2.00 a share. Revenue also beat forecasts. J&J did lower full-year guidance to account for the impact of the Covid-19
JPMorgan Chase (JPM) – The bank reported quarterly earnings of 78 cents per share, well below the consensus estimate of $1.84 and the year-ago figure of $2.57 a share. The drop in profit came primarily from a boost in reserves to deal with the
Anheuser-Busch InBev (BUD) – Anheuser-Busch InBev plans to cut its dividend in half, as it tries to ease a debt burden stemming from its $100 billion purchase of SABMiller in 2016. The beer brewer is also postponing its annual meeting due to the uncertainty surrounding the virus outbreak.
Apple (AAPL) – Apple shipped 2.5 million iPhones in China in March, according to government data. It had shipped only 500,000 phones in China in February.
British American Tobacco (BTI) – The company is under criminal investigation in the U.S., according to a Reuters report. The cigarette maker is said to be under scrutiny for alleged
Walt Disney (DIS) – Disney struck a $5 billion unsecured credit agreement, which it said may be used to fund day to day operations. Disney businesses, such as theme parks and movies, have taken a significant hit from the Covid-19 pandemic.
Valero Energy (VLO) – Valero said it may report a first-quarter loss of up to $2.1 billion, as the independent refiner sees demand for gasoline and other refined products
Exxon Mobil (XOM) – Exxon sold another $9.5 billion in debt with varying maturities. Interest rates ranged from 1.571% for debt due in 2023 to 3.452% for 30-year debt.
Chesapeake Energy (CHK) – Chesapeake shareholders approved a 1-for-200 reverse stock split, a move that will keep it in compliance with New York Stock Exchange listing rules. The energy producer also sees the move boosting liquidity and possibly attracting interest from new investors.
Tesla (TSLA) – Tesla is asking some of its landlords for rent reductions, according to The Wall Street Journal. The automaker is seeking to save money as the virus outbreak shuts most of its business down.
News Corp (NWSA) – News Corp said its newspaper advertising revenue would take a hit, with advertisers pulling back due to the virus outbreak. The Wall Street Journal owner said, however, that it
Quest Diagnostics (DGX) – Quest said overall testing volume is declining, despite a surge in Covid-19 testing. Quest said it has performed about 40% of all virus-related testing by commercial medical labs.
Navistar (NAV) – Navistar is seeking to save $300 million through the end of the truck maker’s fiscal year in October. Navistar said it would defer