Amazon.com is launching a new fleet of bigger, boxier trucks like those favored by rival package carriers United Parcel Service Inc and FedEx Corp, as it fights to fix widespread pandemic-fueled delivery delays that sent customers into the arms of competitors like Walmart Inc. The world's largest online retailer ordered more than 2,200 heavy-duty Utilimaster "walk-in" delivery trucks from Shyft Group, a Michigan-based specialty vehicle company, an Amazon spokeswoman told Reuters. The company declined to say how many of the vehicles have been sent to Amazon delivery contractors, or where ...
It's been nearly a month since Carnival Corporation (NYSE: CCL) shocked the stock market by revealing it was burning through its cash reserves at a faster-than-expected $650 million a month. It's been nearly a month since the company laid down a marker and promised to cut that burn rate to $250 million monthly, the better to help it ride out the recession. In an 8-K filing with the SEC this morning, Carnival updated investors on the state of its business as it crosses the midyear mark.
The S&P 500 and Dow rose in choppy trading on Friday, boosted by financial stocks but the sentiment was fragile as a record rise in coronavirus cases in the United States threatened to further damage Corporate America. Technology stocks weakened, dragging the Nasdaq from its third record closing high this week.
United Airlines Holdings (NASDAQ: UAL) late Thursday reached a tentative agreement with its pilots union for voluntary furloughs and early retirement offers, part of the airline's effort to limit layoffs this fall as the industry adjusts schedules based on falling demand. The airline is hopeful not to need to cut that many people, but carriers are planning for significant layoffs in the months to come as COVID-19 continues to slow travel. Prohibitions on layoffs included in the CARES Act expire on Sept. 30, and the industry is expected to make significant cuts after that date.
Bank lenders for high-quality US companies are taking different refinancing avenues as they seek to extend maturities on billions of US dollars in loans at a time when the Covid-19 pandemic has made liquidity a top priority. Corporations that historically kept their credit agreements intact while extending maturities are now making significant changes to the loan documents accepting risk-mitigating concessions on pricing, terms and the loans’ longevity, while others seem exempt from the new requirements. Gilead Sciences, IBM and Ford Motor Co have tapped the market recently, with ...
The Wall Street Journal reported that American Airlines is considering canceling some orders for the Boeing 737 MAX jet. That would be a fresh blow for the commercial aerospace giant and for the troubled new jet.
(Bloomberg) -- Carnival Corp., which plans to begin cruising again next month from German ports, said Italy could be next as it looks to restart its business following the coronavirus shutdown.Chief Executive Officer Arnold Donald said the company’s ships will start with less than half their usual levels of passengers as they implement precautions for social distancing. The response to new cruises has been strong, he said, with 1,000 bookings coming in for the company’s German brand, AIDA, immediately after it reopened. Many of the bookings came from first-time cruisers.“We expect demand to ...
The bond purchases come on top of $428 million bonds bought by the Fed in the first few days of the corporate bond-buying program, launched June 18. The facility is part of a raft of new programs set up to nurse the economy through the coronavirus pandemic.
American Airlines Group reportedly is threatening to cancel some of its orders for Boeing's grounded 737 MAX jets. Shares of American were climbing 4.2% to $11.62, while Boeing was rising 1% to $174.99. American Airlines has struggled to secure financing for 17 jets it had expected Boeing to deliver this year, according to The Wall Street Journal.
Ford says staffing restrictions at an engine plant in Mexico are ‘not sustainable’, and the U.S. ambassador to Mexico says the company may have to start shutting down U-S plants if they can’t get enough engines. Yahoo Finance's Brian Sozzi, Alexis Christoforous, and Rick Newman discuss.
Evercore ISI added Wells Fargo to its Tactical Outperform list on the expectation that the bank will take an aggressive approach when reporting second-quarter financial results next week.
American Airlines Group Inc. is threatening to cancel some orders of the Boeing Co. 737 Max jet due to financing troubles, The Wall Street Journal reports. American Airlines ordered 17 of the planes for delivery this year, but has struggled to secure the money to pay for them. With travel halted for many consumers due to the coronavirus, airlines and other companies in the travel industry have been under pressure. United Airlines Holdings Inc. announced this week that it could furlough 36,000 workers in October due to diminished demand. American Airlines stock stock has plummeted more than ...
"Investors are paying more attention to new case discovery than they are to the economic data and that is a pattern we've seen develop over the last two weeks," said Art Hogan, chief market strategist at National Securities in New York. A slate of economic data, including a record monthly payrolls addition, has pointed to a revival in business activity in June, fueling the U.S. stock market's stimulus-driven rally. Technology stocks weighed the most on the three main indexes, a day after they powered the Nasdaq to its third closing high this week.
American Airlines has struggled to secure financing for 17 jets it had expected Boeing to deliver this year due to the coronavirus crisis, the report said, citing people familiar with the matter. Boeing has been working to help line up financing for American's 737 MAX jets, and under one possible scenario, the planemaker's financing arm could purchase the aircraft and lease them to American, eventually selling the planes and the payment stream to leasing companies, according to the report.
A strong vehicle lineup and robust demand amid the lifting of coronavirus-induced lockdown restrictions in China drive Ford's (F) second-quarter sales in the country.
NEW YORK, NY / ACCESSWIRE / July 10, 2020 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate ...
Bernstein Liebhard, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action has been filed on behalf of investors that purchased or acquired the securities of Carnival Corporation ("Carnival" or the "Company") (NYSE:CCL) between January 28, 2020 and May 1, 2020 (the "Class Period"). The lawsuit filed in the United States District Court for the Southern District of Florida alleges violations of the Securities Exchange Act of 1934.
