COVID-19, the disease caused by the new coronavirus that was first identified late last year in Wuhan, China, is becoming a dominant theme in the earnings releases and conference calls of S&P 500 companies as investors press for answers on how it will impact their financials. A FactSet search of the 364 earnings call that […]
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Apple’s coronavirus warning wasn’t a total surprise, but magnitude rattles Wall Street
Apple Inc. realized Wall Street’s worst fears with a Presidents Day holiday warning on Monday that it won’t be able to meet second-quarter financial guidance due to the coronavirus in China. “Work is starting to resume around the country, but we are experiencing a slower return to normal conditions than we had anticipated,” Apple AAPL, […]
Bankrupt Dean Foods deals assets to dairy-farming cooperative
The biggest U.S. dairy farming cooperative struck a $425 million deal to buy dozens of plants from bankrupt milk processor Dean Foods Co., in a deal executives said would preserve jobs and markets for farmers’ milk. The deal, which was proposed by Dairy Farmers of America, requires approval of the bankruptcy court and the U.S. […]
Game over for HQ Trivia, the once-viral app sensation
After a boom-and-bust three-year run, HQ Trivia now appears to be little more than fodder for a future trivia question. The game-show app, which at its peak in early 2018 had more than 2 million daily users, officially shut down Friday. CNN Business obtained an email from CEO Rus Yusupov telling employees that “lead investors […]
Canopy’s stock roars higher after better-than-expected earnings, sparks broad rally in cannabis sector
Canopy Growth stock roared higher Friday and sparked a broad rally among cannabis stocks, after a better-than-expected earnings report bolstered sentiment on the beaten-down sector. The report is a “beacon of hope” for the sector, said MKM analyst Bill Kirk. Canopy shares CGC, +13.37%WEED, +15.84% rocketed 18% in morning trading, putting them on track for their […]