Amazon.com Inc on Thursday said it could post its first quarterly loss in five years because it is spending at least $4 billion in response to the coronavirus pandemic, including plans to test its workers for COVID-19, providing staff with protective gear and raising hourly wages.
Month: April 2020
Apple sales inch higher despite coronavirus but CEO Tim Cook sees uncertain future
Apple Inc reported sales and profits that beat Wall Street expectations Thursday, with Chief Executive Officer Tim Cook saying China sales were “headed in the right direction” as that country reopens from the novel coronavirus.
Amazon sees $4 billion in COVID-19-related costs, may not make second-quarter profit
Amazon.com Inc on Thursday said it could post its first quarterly loss in five years because it is spending at least $4 billion in response to the coronavirus pandemic, including plans to test its workers for COVID-19 and providing them with protective gear, and paying higher wages.
Apple reports higher sales as China reopens after coronavirus but gives no forecast
Apple Inc reported sales and profits that beat Wall Street expectations Thursday, with Chief Executive Officer Tim Cook saying China sales were “headed in the right direction” as that country reopens from the novel coronavirus.
Elliott further trims stake in Telecom Italia
U.S. hedge fund Elliott Management has further cut its stake in Italy’s biggest phone group Telecom Italia (TIM), a regulatory filing showed, amid an ongoing portfolio rebalancing as COVID-19 rocks financial markets.
Factbox: Elon Musk protest tweets against coronavirus lockdowns
Tesla Inc Chief Executive Officer Elon Musk, who has a history of being outspoken on Twitter, lashed out on the social media platform over the past several days with his strong views on restrictions to curb the spread of the coronavirus.
Zoom says it has 300 million daily meeting participants, not users
Video conferencing provider Zoom said on Thursday it had mistakenly published a blog last week that put its daily users at 300 million people when the figure instead referred to the number of meeting participants.
Digital ad market is avoiding coronavirus disaster, say tech giants
Reports of the demise of the digital advertising market due to the coronavirus outbreak appear exaggerated as the tech giants dominating the online ads business, Google and Facebook, said this week they saw early signs that the worst could be over.
Elliott trims stake in Telecom Italia further to 5.13%
U.S. hedge fund Elliott Management has further cut its stake in Italy’s biggest phone group Telecom Italia (TIM), a regulatory filing showed on Thursday.
Investor Einhorn tweets at Tesla’s Musk asking for more company financials
One day after Tesla Inc posted its third quarterly profit in a row, hedge fund manager David Einhorn, one of the electric carmaker’s best-known critics, lobbed questions about the company’s financials at its two top executives.
Epic Meets Fail 