Wild Wednesday

Automobile Industry

FORD Shares Horrific First Quarter Numbers, Paints Bleak Picture For Second Quarter

$2 billion—that’s how much Ford Motor Company said it lost in the first quarter…and the scary thing is the company expects to lose much more in the second quarter. All of the losses were blamed on the coronavirus. The company has lost 50 cents per share which was much worse than what Wall Street estimated for Ford at…

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Tech Industry

Uh Oh: Zoom Investors Now Nervous Based on DHS Report

A recent report, cowritten by the Department of Homeland Security’s Cyber Mission and Counterintelligence Mission Centers warned users that the video-conferencing app Zoom could be vulnerable to foreign surveillance. The report states that hackers “likely will identify new or use existing…

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Stock Market

Harley Stocks Jump Up After Acting CEO Lays Out Game Plan

Motorcycle icon Harley-Davidson shares climbed after acting chief executive officer Jochen Zeitz shared his new plans to cut costs and complexity while focusing on the company’s strengths. The Stock rose as much as 17% after his plan called “The Rewire” was released. One analyst said the plan could make Harley one of the few manufacturers to grow profits in the coming years. “It is clear to us that HOG will be less adventurous in terms of…

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U.S. Taxes

Here’s Are the Taxes Americans Can Expect After Pandemic is Over

Trillions of dollars has been spent by Congress to provide stimulus payments to hurting Americans affected by the coronavirus economic shutdown…Evenutally, those debts racked up by the federal government will need to be repaid, and of course, the payments will come from taxes. In fact, NEW taxes will need to be created to cover the bill.

HERE ARE SOME EXPECTED TAXES COMING →

Meat Industry

Trump Orders Slaughterhouses to Remain Open—And This May Boost These Food-Packaging Companies

Most people do not want to know how the sausage is made—they just want to pick them up at the store and eat them. With ominous reports circulating that trouble was brewing in the U.S. consumer meat supply, President Trump made an executive action to keep the beef, pork and poultry processing plants open so the food supply will stay steady. What is interesting is how this situation could turn out very well for the meat processing companies.

HERE’S HOW THEY MAY GET A BOOST →

Tech Industry

Facebook Hopes to Pick Up Where Google and Snap Left Off

It was a crazy earnings day on Wednesday for tech giants Alphabet and Snap—their stocks rose higher despite their warnings about severe downturns in the online advertising market. Facebook now hopes to continue this trend. Facebook has already said it is experiencing record usage but seeing…

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Retail Industry

Foot Locker Furloughs Store Employees in U.S. and Canada

Athletic retailer Foot Locker Inc. has furloughed almost all of their store employees throughout Canada and the U.S. The plan began on April 26. Foot Locker has 50,999 employees according to FactSet. The company also reduced CEO Richard Johnson’s salary by 40% while cutting executive vice president and senior vice president salaries by 20%, and corporate vice president and general manager pay by 10%. Foot Locker stock is up 1.5% since last Thursday but is down 63.6% over the past year. The S&P 500 index…

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Retail Industry

Gap Suspends $115 Million in North American Rent Payments

Gap Inc. stock fell 3% last Thursday in premarket trading after is said in a filing that it has suspended rent payments totaling $115 million in North America. They are now in talks to renegotiate or even terminate leases and close stores entirely. If the company is unable to change lease terms, it says it could be deemed…

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