• Coronavirus could wipe out department stores: former Apple store chief
    Yahoo Finance

    Coronavirus could wipe out department stores: former Apple store chief

    Ron Johnson, who is the former CEO of J.C. Penney and architect of Apple's retail stores, gives his take on the future of department stores during coronavirus.

  • Company News for Apr 3, 2020
    Zacks

    Company News for Apr 3, 2020

    Companies In The News Are: NEPT, BMRA, LK, WBA

  • Kimco Withdraws Guidance, Boosts Liquidity on Coronavirus Scare
    Zacks

    Kimco Withdraws Guidance, Boosts Liquidity on Coronavirus Scare

    With majority of annual base rent coming from grocery-anchored centers apart from having solid liquidity, Kimco Realty (KIM) is well poised to navigate through the coronavirus crisis.

  • Airlines Laid Low By Coronavirus: When Will Growth Return?
    Zacks

    Airlines Laid Low By Coronavirus: When Will Growth Return?

    Battered by coronavirus, airlines might not see a recovery in travel demand until at least 2022.

  • Investing.com

    Stocks - Wall Street Selling Gains Steam

    By Geoffrey Smith

  • Financial Times

    Some holidaymakers can’t wait for their next cruise 

    Against this grim backdrop, however, consider the admirable resilience of two groups: cruise passengers and bond investors, who both think we might soon be floating on the high seas sipping piña coladas. Against stiff competition, Carnival’s shares are among the worst-performing globally this year among companies worth more than $1bn, having fallen 85 per cent. As Carnival acknowledged this week in the “recent developments” section of the bond offering’s prospectus, it has experienced a few problems of late.

  • CEO of Santander says bank is taking measures to limit coronavirus impact
    Reuters

    CEO of Santander says bank is taking measures to limit coronavirus impact

    The chief executive officer of Spain's Santander on Friday assured investors it was taking all necessary measures to mitigate the impact from the coronavirus outbreak on the bank's balance sheet. "We will take the necessary measures to mitigate, as far as possible, the impact that the volatility and foreseeable slowdown in global growth may have on the business and on the income statement this year," the bank's CEO Jose Antonio Alvarez told investors.

  • Santander boosts lending capacity to 90 billion euros after cancelling dividends
    Reuters

    Santander boosts lending capacity to 90 billion euros after cancelling dividends

    Santander has boosted its lending capacity to 90 billion euros ($97.3 billion) to support households in the fight against the coronavirus outbreak after cancelling its final 2019 dividend and its remuneration policy for 2020, chairman Ana Botin told investors on Friday. The European Central Bank had already told lenders to skip dividend payments and share buy backs until October at the earliest and use profits to support an economy hamstrung by restrictions on movement implemented to stop the spread of the virus. The lender said on Thursday it would cancel the final 0.13 euros per share dividend against its 2019 earnings to boost capital defences, with Botin saying on Friday this would save the euro zone's biggest lender in terms of market value 1.6 billion euros ($1.7 billion).

  • Spain's Santander cancels final dividend on 2019 earnings
    Reuters

    Spain's Santander cancels final dividend on 2019 earnings

    Spain's Santander will cancel the payment of a final dividend against its 2019 earnings and save the money to boost capital defences against the impact of the coronavirus outbreak. The European Central Bank has told lenders to skip dividend payments and share buybacks until October at the earliest and use profits to support an economy hamstrung by restrictions on movement implemented to stop the spread of the virus. Santander will wait until "there is more visibility of the effects of the COVID-19 crisis" and its own 2020 financial results are known before proposing any dividend payments.

  • Is Amer Movil (AMX) Stock Undervalued Right Now?
    Zacks

    Is Amer Movil (AMX) Stock Undervalued Right Now?

    Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

  • Airline Stock Roundup: AAL to Apply for Coronavirus-Induced Aid, LUV in Focus
    Zacks

    Airline Stock Roundup: AAL to Apply for Coronavirus-Induced Aid, LUV in Focus

    Due to dried-up air-travel demand, airlines like Southwest Airlines (LUV) and Delta Air Lines (DAL) are offering cargo charter services on passenger planes.

  • Walgreens Boots (WBA) Q2 Earnings Top Estimates, Margins Down
    Zacks

    Walgreens Boots (WBA) Q2 Earnings Top Estimates, Margins Down

    The coronavirus outbreak had an immaterial impact on Walgreens Boots' (WBA) second-quarter fiscal 2020 results.

  • Betting Takes a Back Seat in Macau on Coronavirus Fears
    Zacks

    Betting Takes a Back Seat in Macau on Coronavirus Fears

    Macau is likely to record revenue decline in 2020. The coronavirus crisis is hurting the industry in other parts of the world as well.

  • Walgreens Boots Stock Falls 8%
    Investing.com

    Walgreens Boots Stock Falls 8%

    Investing.com - Walgreens Boots (NASDAQ:WBA) Stock fell by 7.59% to trade at $39.71 by 12:40 (16:40 GMT) on Thursday on the NASDAQ exchange.

  • Walgreens Boots Alliance (WBA) Q2 Earnings and Revenues Beat Estimates
    Zacks

    Walgreens Boots Alliance (WBA) Q2 Earnings and Revenues Beat Estimates

    Walgreens (WBA) delivered earnings and revenue surprises of 4.83% and 1.48%, respectively, for the quarter ended February 2020. Do the numbers hold clues to what lies ahead for the stock?

  • Financial Times

    Australia faces ‘humanitarian disaster’ on board cruise ships 

    Australian authorities are refusing to allow almost a dozen foreign cruise ships to dock or repatriate 11,000 crew members in a bitter dispute that trade unions warn risks creating a “humanitarian disaster”. State and federal authorities said on Thursday that bringing crew onshore was too risky because of health concerns after coronavirus was detected on at least three ships. Peter Dutton, Australia’s home affairs minister, alleged on Thursday that some companies had been dishonest about the infection rates on board ships lining up off Australia’s coast.

  • Financial Times

    Carnival/rescue financing: any port in a storm

    Lockdowns have curtailed summer holiday bookings and cruise liners now have a grim reputation for becoming quarantine ships. The centrepiece of the financing is a $4bn offering of five-year senior secured bonds priced at just under par with an annual coupon of 11.5 per cent. That juicy implied return attracted enough investors for Carnival to increase the offering from a mooted $3bn. Carnival’s physical assets — its fleet — are valued on its balance sheet at nearly $40bn.

  • Walgreens Boots Earnings, Revenue Beat in Q2
    Investing.com

    Walgreens Boots Earnings, Revenue Beat in Q2

    Investing.com - Walgreens Boots (NASDAQ:WBA) reported on Thursday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.

  • Financial Times

    Opening Quote: Call for cash from British business grows louder

    Programming note: There will be no Opening Quote tomorrow, April 3. A trickle of company cash calls is turning into a steady stream. Carnival, the Florida-headquartered but FTSE-listed cruise ship operator is the biggest (more on that below).

  • Reuters

    Britain says Basel bank rule delay will aid response to coronavirus

    Delaying remaining elements of new global bank capital rules for a year will give lenders in Britain time to focus on dealing with fallout from the coronavirus epidemic, the Bank of England and Britain's finance ministry said on Thursday. "This will provide operational capacity for banks and supervisors to respond to the immediate financial stability priorities from the impact of Covid-19," the BoE's Prudential Regulation Authority (PRA) and finance ministry said in a joint statement. The PRA and finance ministry said they were committed to the full, timely and consistent implementation of the new rules and "we will work together towards a UK implementation timetable that is consistent with the one year delay".

  • Reuters

    Cruise operator Carnival pays high price to get credit investors on board

    Despite having its cruise ships idled to comply with coronavirus travel restrictions, the company was able to attract enough investors that its capital raising was oversubscribed several times over, albeit at a steep price, sources told Reuters. Carnival priced $4 billion in bonds maturing in 2023 - upsized from the $3 billion originally planned - with a yield at par value of 11.5%, it said in a statement. By comparison, Carnival paid a 1% yield in October, when it borrowed 600 million euros ($657.7 million) in the European debt market.

  • Royal Caribbean Extends "Cruise with Confidence" Cancellation Policy Through Sept. 1 (revised)
    Zacks

    Royal Caribbean Extends "Cruise with Confidence" Cancellation Policy Through Sept. 1 (revised)

    The company's decision is in sync with the unpredictable circumstances evolving from the global crisis.

  • Ralph Lauren (RL) Stock Moves -1.62%: What You Should Know
    Zacks

    Ralph Lauren (RL) Stock Moves -1.62%: What You Should Know

    Ralph Lauren (RL) closed the most recent trading day at $65.75, moving -1.62% from the previous trading session.