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Airbus on Wednesday posted a 49% slump in first-quarter core profit and called for an industry-wide campaign to restore confidence in flying after the coronavirus pandemic triggered the "gravest crisis the aerospace industry has ever known".

Boeing Co said on Wednesday it would cut its workforce by about 10%, further reduce 787 Dreamliner production and try to boost liquidity as the coronavirus pandemic drove the planemaker to a net loss for the second straight quarter.

When Tesla Inc reports first-quarter results after the bell on Wednesday, many individual shareholders will not be looking for details on the subject that drives most conversations: the effect of the novel coronavirus pandemic.

The Federal Reserve, which has pumped trillions in emergency funding into U.S. financial markets to stem the damage from the coronavirus pandemic, is expected on Wednesday to reiterate its promise to do whatever it takes to support the world's largest economy.

Yum Brands Inc reported a 7% fall in quarterly comparable store sales on Wednesday, as many restaurants across its brands were closed or limited to delivery and take-away due to lockdowns to curb the spread of the novel coronavirus.

Wall Street looked set to jump at open on Wednesday after Gilead Sciences reported an encouraging update on a potential COVID-19 treatment, while upbeat earnings reports from Google-parent Alphabet and Boeing boosted the mood.

Boeing Co said on Wednesday it would cut its workforce by about 10% and further reduce 787 Dreamliner production after reporting a loss for the second straight quarter as the coronavirus pandemic hits global travel demand.

AirAsia Group , one of Europe's top five corporate export customers, will stop taking deliveries of Airbus jets this year and review its remaining orders as the coronavirus crisis heaps pressure on the Malaysian carrier.

U.S. stock index futures jumped on Wednesday after Gilead Sciences said its experimental antiviral drug met the main goal of a trial testing it in COVID-19 patients.

The U.S. economy contracted in the first quarter at its sharpest pace since the Great Recession as stringent measures to slow the spread of the novel coronavirus almost shut down the country, ending the longest expansion in the nation's history.

General Electric Co said on Wednesday the coronavirus pandemic dealt a $1 billion blow to cash flow at its industrial business in the first quarter, while total revenue fell almost 8% and the company warned the damage would worsen in the next three months.

General Electric Co said on Wednesday it had cut 700 jobs in its power division in the first quarter, and that it was on track to reduce capital expenditure by 25% this year.

Anthem Inc beat quarterly estimates for revenue on Wednesday, helped by the launch of pharmacy benefits business IngenioRx and as more people opted for its health plans.

When the coronavirus outbreak in China disrupted global smartphone production in February, Samsung looked set to weather the crisis better than most thanks to its limited exposure there and launches of pricey 5G phones. Its fortunes are reversing.

U.S. stock index futures rose on Wednesday, bolstered by solid earnings reports from Google-parent Alphabet and Boeing that provided some optimism as the country moved cautiously to ease lockdowns, while investors braced for data which could reveal a sharp contraction in the domestic economy.

VW and Daimler on Wednesday urged the German government to help boost demand for cars as the coronavirus pandemic hammered first-quarter profits and forced both carmakers to drop their outlooks for the year.

German carmaker Volkswagen is expecting an operating loss in the current quarter due the impact of the coronavirus pandemic, its chief financial officer said on Wednesday.

Boeing Co reported a loss for the second straight quarter and said on Wednesday it would cut its workforce by about 10% as the planemaker further reduces 787 Dreamliner production against a slump in global travel demand.

Daimler on Wednesday warned the carmaker faces a difficult second quarter as it hiked credit risk provisions to anticipate rising delinquencies among customers who leased or bought Mercedes-Benz passenger cars.

Daimler said it expected the full-year operating profit of its Mercedes-Benz Cars & Vans division to be above the prior-year level but warned that the coronavirus pandemic will push the group to an operating loss in the second quarter.