Tag Archives: pandemic

Amazon (AMZN) reported third-quarter sales and earnings results that missed Wall Street’s estimates, reflecting a growth deceleration after the pandemic stoked a surge in online shopping last year and earlier in 2021.  The company also flagged that it would see additional costs as a result of supply chain challenges in the fourth quarter. Shares dropped by more than 4% in late trading.  Here were the main metrics from Amazon’s report, compared to consensus estimates compiled by Bloomberg:

The coronavirus pandemic hit the education sector exceptionally hard, and college enrollments plunged in 2020 to the lowest level since 2007. According to new data released by the U.S. Census Bureau on Tuesday, enrollment in schools dropped by 2.9 million from 2019 to 2020 and colleges by 615,000. Enrollment among those aged 35 and below has also dipped to the lowest level in over 20 years, with community colleges leading the decline. Brookings has suggested that many young people are forgoing… Source link

SoftBank-backed Indian hotel chain Oyo Hotels on Friday filed for a public offering, just two days after trendy eyeglass unicorn Warby Parker (WRBY) went public on the New York Stock Exchange. The flurry of activity has become commonplace during a record-breaking surge of IPOs this year that’s seen buzzy offerings from the likes of Robinhood (HOOD), Coinbase (COIN), and 23andMe (ME). In a new interview, Suzanne Shank — president and CEO of investment bank Siebert Williams Shank — said the… Source link

A rendering of St. John’s Terminal with Google CEO Sundar Pichai (COOKFOX Architects, Getty) Google announced Tuesday it was expanding its office inventory in the city with the purchase of 550 Washington Street for $2.1 billion. The tech giant already leased space at the property, called St. John’s Terminal, from Oxford Properties, the Wall Street Journal reported, and will be exercising an option to buy the building, which the company said it expects to do in the first quarter of… Source link

In spite of the economic and financial stresses brought on by the pandemic, most Americans have not taken any withdrawals from their defined contribution (DC) retirement plans. The vast majority of U.S. retirement savers have continued to make contributions to their plans throughout the pandemic, according to a recent Investment Company Institute (ICI) report. “Despite the economic challenges over the past year and a half, retirement savers show deep commitment to preserving their… Source link

New weekly jobless claims are expected to hover near their lowest level since March 2020, underscoring the sustained improvement in the labor market despite ongoing concerns over the Delta variant and worker shortages.  The Labor Department is set to release its weekly jobless claims report on Thursday at 8:30 a.m. ET. Here are the main metrics expected from the print, compared to consensus estimates compiled by Bloomberg: Initial unemployment claims, week ended August 21: 350,000 expected… Source link

WASHINGTON — Top public health officials are warning about an alarming rise in coronavirus cases, hospitalizations and deaths, figures that represent a bitter setback in the fight to end the pandemic. “Across the board, we are seeing increases in cases and hospitalizations in all age groups,” Centers for Disease Control and Prevention Director Rochelle Walensky said during a Thursday briefing by the White House pandemic response team. She noted that as of Monday, a full 83 percent of… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Wednesday, August 4, 2021 Clorox shares erase all of their COVID gains On March 11, 2020, the World Health Organization declared the spread of COVID-19 a global pandemic.  In the days that followed, American consumers rapidly stockpiled supplies of all kinds — among them canned foods, toilet paper, and disinfecting wipes.  And as the market has… Source link

(Bloomberg) — AbbVie Inc. beat expectations for second-quarter profit and revenue and raised its adjusted profit guidance for the year as sales rebounded from last year’s pandemic disruptions, helped by the purchase of Allergan. Adjusted earnings for the year will be $12.52 to $12.62 a share, AbbVie said, up from a previous range that topped out at $12.57.Revenue was $14 billion for the quarter, a 34% increase from the year-earlier period that beat Wall Street’s projection of $13.65… Source link

Officials are continuing to raise concerns over the recent rise in COVID case numbers across the country. Not helping matters is the still large number of people who remain unvaccinated. “It is a pandemic of the unvaccinated,” Gov. Phil Murphy (D-NJ) said on Yahoo Finance Live (video above). “It is literally 99.99% likely that the folks who are in the hospital are unvaccinated.” Some states have reached a point in which their elected officials are imposing vaccine mandates for state… Source link