Feed aggregator

U.S. oil and gas company ConocoPhillips swung to a first quarter loss on Thursday as it took big hits from impairments and the falling value of its stake in Canadian producer Cenovus Energy.

World stocks headed for their best month on record on Thursday, as encouraging early results from a COVID-19 treatment trial and expectations of more European Central Bank (ECB) stimulus later in the day helped ease the pain of February and March.

Twitter Inc on Thursday said its ads sales slightly rebounded in Asia after a plunge due to the coronavirus outbreak and it had accelerated work on tools to attract advertisers, becoming the latest tech company to report a lighter blow from the pandemic than forecast.

British supermarket group Sainsbury's warned the impact of the coronavirus pandemic on current year profit could be over 500 million pounds ($623 million) and said decisions on paying dividends to shareholders would be deferred.

Dow and S&P 500 stock index futures dipped on Thursday as nerves kicked in at the end of an overall strong month for stocks with investors awaiting the weekly jobless claims data, while Nasdaq futures rose after upbeat earnings from Facebook and Tesla.

U.S. oil and gas company ConocoPhillips reported a 58% plunge in adjusted quarterly profit on Thursday, weighed down by lower output and an unprecedented plunge in crude prices.

Comcast Corp on Thursday reported its best quarter of broadband net additions in 12 years, but revenue fell shy of Wall Street's estimate as the coronavirus pandemic hurt advertising.

Twitter Inc on Thursday said that its ads sales had slightly rebounded in Asia after a plunge due to the coronavirus outbreak and that it had accelerated work on tools to attract key advertisers, becoming the latest tech company to report a lighter blow from the pandemic than forecast.

McDonald's Corp reported a 16.7% slide in quarterly profit on Thursday as most of its restaurants across the globe limited their services to deliveries and take-aways to halt the spread of the coronavirus pandemic.

Dan Digre, head of MISCO Speakers, was on edge before the coronavirus outbreak hit the global economy. Payment of hundreds of thousands of dollars in Chinese tariffs had wiped out the profit and dwindled the cash balance of the Minnesota-based loudspeaker maker.

Silicon Valley billionaires Elon Musk and Mark Zuckerberg offered dueling views on lockdown measures designed to slow the spread of the coronavirus on Wednesday, with Facebook's Zuckerberg endorsing the measures while Tesla's Musk condemned them as anti-democratic.

Shareholder support for Credit Suisse Chairman Urs Rohner dropped to its lowest level ever on Thursday, as Rohner told the Swiss bank's annual meeting that its search for his successor was well under way.

Lufthansa and unions representing much of its staff told the German government that their joint top priorities were to maintain the airline's competitiveness after the coronavirus crisis and preserve as many jobs as possible.

Malaysia Airlines (MAB) is working closely with sole shareholder Khazanah Nasional for financial support while also taking steps to defend its cash position to sustain business during the coronavirus crisis, it said on Thursday.

Thyssenkrupp has secured state aid of around 1 billion euros ($1.09 billion) to get through a bottleneck until money from the sale of its elevator division comes in, a source close to the matter said on Thursday.

Reckitt Benckiser achieved record sales growth in the first quarter and predicted a stronger than expected performance in 2020 as customers stocked up on Lysol disinfectants, Mucinex cough syrup and Dettol soap ahead of the coronavirus lockdowns.

Facebook Inc will allow users in the United States and Canada to transfer photos and videos to a rival tech platform for the first time - a step that could assuage antitrust concerns by giving users an option to easily leave the company's services, the social media network said on Thursday.

U.S. agribusiness giant Cargill [CARG.UL] said on Thursday it will introduce a range of plant-based food products to China following a successful trial of plant-based nuggets by Yum China Holdings Inc's KFC.

Nokia Oyj eked out a small profit in the first quarter, backed by demand for its new high-margin 5G telecoms equipment, and predicted a strong second half of the year, sending its shares higher.

Thyssenkrupp has secured state aid of around 1 billion euros ($1.09 billion), newspaper Handelsblatt cited sources with knowledge of the matter as saying on Thursday.