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Today’s Business News and Opinion

Google, Facebook Tell Many Employees to Work From Home Until 2021

Offices have been closed for a majority of tech giants’ staffs since March.

5/8/20 6:01PM

Tesla is Not Cleared to Reopen California Factory, Say Local Officials

Tesla CEO Elon Musk recently complained that the Bay Area’s stay-at-home orders are a  risk to Tesla’s financial results, and “fascist.”

5/8/20 5:51PM

Small Business Administration Says Demand for Loans Slows

Congress replenished the small business loan program on April 27, with some watchers warning that the funds would dry up in days.

5/8/20 5:26PM

Stock Market Today With Jim Cramer: Jobs Report Is Ignored

Jim Cramer discusses the stock market today including the stock market ignoring the jobs report, day trader Dave Portnoy and Moderna stock news.

5/8/20 5:01PM

How Stocks Did This Week, 3 Biggest Risks Going Forward

The risks for stocks are more near-term than long-term and structural. Here’s the breakdown.

5/8/20 4:46PM

Stocks End Week Strong: What Wall Street’s Saying

Trade tensions and high unemployment are now factors. Here’s what the experts say about the stock market now.

5/8/20 4:29PM

Firms Like Uber and Yelp Are Still Staring at a Long Road to Recovery

Though some tech firms hit hard by the COVID-19 pandemic are seeing a bit of demand improvement, business is still generally well below February levels.

5/8/20 4:11PM

5 Dow Leaders and 5 Losers Friday — ICYMI

The market leaders were largely cyclical stocks Friday.

5/8/20 4:00PM

Apple Stores to Open in Idaho, South Carolina, Alabama, Alaska Next Week

All 271 of Apple’s U.S. stores have been closed since the middle of March.

5/8/20 3:51PM

Apple to Reopen Some U.S. Stores Next Week

Most of Apple’s stores outside of China have been closed since March.

5/8/20 3:45PM

Old Navy Cotton Masks Sold Out Online

Old Navy is selling a pack of five masks for $12.50 to fight the coronavirus pandemic and these cheaper masks have sold out online

5/8/20 3:33PM

What Legal Rights Do Renters and Landlords Have?

The coronavirus pandemic has shut down the economy and left over 33 Americans without a job. So, if you’re a renter, what legal rights do you have? And what about landlords?

5/8/20 3:30PM

Amazon and Microsoft Trade Insults Over High-Stakes JEDI Contract

Amazon filed a protest this week with the Pentagon requesting more clarity on the bidding process, and the two tech giants traded barbs about their respective claims.

5/8/20 3:27PM

J.C. Penney Reportedly May File for Bankruptcy Next Week

The coronavirus pandemic may be the final nail in the coffin of beleaguered retailer J.C. Penney.

5/8/20 2:54PM

Some Apple Airpods Will Be ‘Made in Vietnam,’ Not China

Apple will produce three million to four million of its first-generation AirPods in Vietnam for the first time this quarter.

5/8/20 2:30PM

Medicare and the Coronavirus: The CARES Act Presents Some Financial Planning Opportunities

The CARES Act includes a waiver for RMDs which could help reduce the Medicare premium surcharge in 2022.

5/8/20 2:30PM

Can Bitcoin Hit New 2020 Highs With Paul Tudor Jones on Board?

Bitcoin has catalysts and now investors want to know if it can maintain momentum. The cryptocurrency is working on eight straight weeks of gains.

5/8/20 2:05PM

Coronavirus Pandemic Forces Big Companies Like Uber, Lyft, Airbnb And More to Layoff Their Employees

Uber recently announced that it was slashing 14% of its global workforce.

5/8/20 1:52PM

Stage Stores Sinks on Report It Is Readying for Bankruptcy

Stage, owner of Gordmans, Bealls and Goody’s, has suffered greatly from the coronavirus pandemic.

5/8/20 1:29PM

Morning Bell With Jim Cramer: Uber Technologies Needs to Focus

Jim Cramer shares stock market news including Uber Technologies Inc stock, Grubhub stock, and Bristol-Myers stock reporting earnings.

5/8/20 1:17PM

S&P 500 Just Hit a Level It Doesn’t Stay at for Long

Here’s what’s driving stocks to a level the S&P hasn’t stuck at since the bear market low in late March.

5/8/20 1:06PM

Dow Finishes Higher Despite Devastating Job Losses

Stocks finish higher as the U.S. economy shed 20.5 million jobs in April and the unemployment rate shot up to nearly 15%, large numbers but less than feared.

5/8/20 1:00PM

U.S. Postal Service Warns of ‘Dire’ Coronavirus Pandemic Consequences

The USPS posted a second quarter loss of $4.5 billion on Friday, May 8.

5/8/20 12:57PM

Southwest Plane Strikes, Kills Man Landing at Austin-Bergstrom

Southwest Airlines says its pilot maneuvered to try and avoid striking the unauthorized person on the runway at Austin-Bergstrom airport.

5/8/20 12:46PM

Salesforce Gains After NYC Contact Tracing Efforts Announced

Salesforce shares rise after New York City Mayor Bill de Blasio revealed the company’s involvement in its contact tracing program to stop the spread of Covid-19.

5/8/20 12:43PM

Vice President Pence Staff Member Tests Positive for Coronavirus

An aide to Vice President Mike Pence tests positive for coronavirus.

5/8/20 12:24PM

Can Uber Continue Its Earnings Rally? Let’s Look at the Chart

Uber is rallying despite missing earnings estimates. Can it continue higher? The charts lay out support and resistance for the ride-hailing company.

5/8/20 12:15PM

Corona Beer Distributor Constellation Brands Gets a Downgrade

Corona and Modelo beer distributor Constellation Brands downgraded to sell by MKM Partners on availability issues bubbling over from pandemic shutdown.

5/8/20 12:13PM

Roku CFO: Coming Recession Will Bring Even More Advertisers to Our Platform

Although ad budgets are under assault, streaming platform Roku is confident the impending financial collapse will play to its strengths.

5/8/20 11:34AM

Tesla CEO Elon Musk to Reopen Fremont, Calif. Factory on Friday

Elon Musk—the CEO at the helm of electric vehicle maker Tesla—is planning to reopen Tesla’s Fremont, Calif. plant on Friday afternoon.

5/8/20 11:10AM

April Jobs Report: Hardest-Hit Sectors

No sectors were spared, as the unemployment rate hit 14.7 percent and 20.5 million jobs were lost.

5/8/20 10:56AM

Apple to Produce AirPods in Vietnam in Shift Away From China

Apple will produce millions of its first-generation AirPods wireless earphones in Vietnam for the first time this quarter.

5/8/20 10:27AM

Uber’s Quarter Gets Analyst Approval: What Wall Street’s Saying

Uber Eats was a bright spot in the quarter.

5/8/20 10:23AM

Stocks Rise as U.S.- China Trade Tensions Thaw

Stocks rise at the open Friday, but hang onto the roof if you’re a stock investor, says Bank of America.

5/8/20 10:16AM

Disney World’s Restaurant Complex Set for Phased Reopening May 20

Walt Disney World will begin a phased reopening Disney Springs, its restaurant and entertainment area, on May 20.

5/8/20 9:59AM

Uber Shares Trade Higher After Eats Revenue Surge Eases Sting of $3 Billion Quarterly Loss

Stay-at-home orders helped Uber Eats record a 53% year-on-year revenue surge over the first three months of the year, softening the blow of a near $3 billion quarterly loss for the tech transport group.

5/8/20 9:37AM

Intel Compromised Worker Safety to Churn Out Chips – Report

Intel is accused of prioritizing chip production over worker health and safety, according to complaints reviewed by Bloomberg.

5/8/20 9:36AM

Elon Musk to Reopen Tesla’s Fremont Plant on Friday

Tesla CEO Elon Musk informs workers at the company’s Fremont, Calif. plant they should come back to work starting Friday afternoon.

5/8/20 9:35AM

April Jobs Report Could Be Worst In History With Unemployment Rising to Post-War Record Amid Coronavirus Pandemic

Weekly jobless claims suggest catastrophic losses for the month of April, with less than half of working age Americans now drawing a paycheck.

5/8/20 9:35AM

Bitcoin Tops $10,000 Ahead of Halving Event; Tudor-Jones Backs ‘Fastest Horse’ in Inflation Race

Billionaire investor Paul Tudor-Jones thinks Bitcoin could be “the fastest horse” in the markets as investors hedge against hyper-inflation from trillions in coronavirus rescue spending.

5/8/20 9:33AM

Record 20.5M Job Losses in April as Unemployment Rate Soars to 14.7%

A post-war high of 20.5 million jobs were lost last month, according to the Bureau of Labor Statistics, pushing the unemployment rate to a staggering 14.7%.

5/8/20 9:30AM

Record Job Losses Show Coronavirus’s True Fury

Depression-like numbers mark April’s nonfarm payrolls report, which showed a record loss of 20.5 million jobs and an unemployment rate of 14.7%. Here’s the breakdown.

5/8/20 9:25AM

Cronos Rises on First-Quarter Earnings Beat

Cronos says its distribution channels are experiencing disruptions due to the coronavirus pandemic.

5/8/20 8:55AM

Nordstrom to Permanently Close Stores as Pandemic Hammers Retail

Nordstrom will permanently close 16 stores, restructure regions and adjust its supply chain to cut costs and keep operations afloat amid the coronavirus pandemic.

5/8/20 8:54AM

I Was Furloughed. Under the CARES Act, Do I Still Need to Pay My 401(k) Loans?

Bob Powell, editor of Retirement Daily, answers your most pressing questions about Social Security, Medicare, retirement accounts, and even the hard-to-understand CARES Act.

5/8/20 8:50AM

April Jobs Report: Unemployment Rate Soars to 14.7%

The U.S. unemployment rate hit 14.7 percent in April. 20.5 million jobs were lost.

5/8/20 8:49AM

Macy’s Delays First-Quarter Release to July 1, Stock Climbs Anyway

Macy’s delays the release of its first-quarter results to July 1 due to disruptions caused by the coronavirus pandemic.

5/8/20 8:47AM

What Is the Difference Between a Furlough and a Layoff?

The difference from being furloughed and being laid off is that a furlough is a leave of absence with the hopes to come back to work.

5/8/20 8:46AM

What Is a Furlough and What Are Employee Rights During One?

An employee furlough is a mandatory suspension from work without pay. It can be as brief or as long as the employer wants during the coronavirus pandemic.

5/8/20 8:43AM

Ford’s Assembly Lines Gear Up to Roll Again

Ford gears up for a phased restart of its assembly lines.

5/8/20 8:27AM

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