Reuters Business News

Video game publisher Electronic Arts Inc forecast full-year adjusted revenue above Wall Street estimates on Tuesday, riding on the broader surge in videogame sales as people shelter at home due to the COVID-19 pandemic.

Mattel Inc will have a new line of "Baby Yoda" toys ready to hit shelves in time for Christmas, the company said on Tuesday, even as it predicted a steep drop in second-quarter sales due to the coronavirus lockdowns.

Spirit AeroSystems Holdings said on Tuesday it has reached an agreement with Boeing Co to deliver 125 737 MAX shipsets to the planemaker in 2020, down from the 216 it had previously announced.

U.S. airlines are collectively burning more than $10 billion in cash per month and averaging fewer than two dozen passengers per domestic flight in the wake of the coronavirus pandemic, industry trade group Airlines for America said in prepared testimony seen by Reuters ahead of a U.S. Senate hearing on Wednesday.

Occidental Petroleum Corp on Tuesday swung to a first quarter loss on writedowns and charges, and the troubled U.S. oil producer cut its budget for the third time since March in response to a historic oil-price crash.

Airbnb Inc is laying off 25% of its workforce, or nearly 1,900 employees, the home rental startup said on Tuesday, as the COVID-19 pandemic brings global travel to a near standstill.

The U.S. economy could start to recover in the second half of the year after what is shaping up to be the worst recession in decades, but growth is likely to be slow and uneven, several top Federal Reserve policymakers indicated on Tuesday.

Beyond Meat Inc reported better-than-expected quarterly results on Tuesday as it sold more of its plant-based meat products and cut costs on packaging and labor, sending its shares up 3% after the bell.

Mattel Inc will have a new line of "Baby Yoda" toys ready to hit shelves in time for Christmas, the company said on Tuesday, as it looks to chart a recovery from a steep drop in first-quarter sales due to the coronavirus lockdowns.

Occidental Petroleum Corp on Tuesday reported that it swung to a loss in the first quarter on write downs, and the troubled oil producer cut its budget for the third time since March in response to the historic crash of oil prices.

Match Group Inc reported quarterly revenue that fell short of Wall Street estimates on Tuesday, hit by slowing growth in its popular dating app "Tinder" as fewer people signed up and paid for its premium features amid the COVID-19 pandemic.

A gauge of global stock markets rose on Tuesday, snapping a three-day losing streak, while oil prices soared as investors shrugged off grim economic data on hopes the easing of coronavirus lockdowns will jump start economies and revive fuel demand.

Walt Disney Co missed Wall Street's lowered earnings forecasts on Tuesday and estimated global coronavirus lockdowns cut profits by $1.4 billion, mostly from its shuttered theme parks.

Beyond Meat Inc posted better-than-expected quarterly sales on Tuesday, but suspended its 2020 forecast as the COVID-19 pandemic hit demand for the company's plant-based meat products at restaurants.

Home rental startup Airbnb Inc is planning to lay off 1,900 employees due to the impact of the coronavirus pandemic, two sources familiar with the matter told Reuters.

BMW on Tuesday lowered the outlook for the profitability of its automotive and motorcycles divisions, citing worse-than-expected demand which has been hit by measures to contain the coronavirus.

Lyft Inc said on Tuesday it would expand its program that provides cheaper rides to customers willing to wait longer for their pick-ups, at a time when curbs against the coronavirus outbreak have brought its affordable shared services to a halt.

Wall Street's main indexes rallied on Tuesday as healthcare stocks jumped, oil prices surged and a number of countries and U.S. states eased coronavirus-induced restrictions in an attempt to revive their economies.

Delta Air Lines said on Tuesday it was putting a limit to seating capacity in its airplanes, as the U.S. carrier looks to provide a safe flying experience to customers amid the coronavirus crisis.

Wall Street's main indexes jumped on Tuesday as a recovery in oil prices lifted battered energy stocks and a slew of countries eased coronavirus-induced restrictions in an attempt to revive their economies.