Ford Motor Co said on Monday it expects to post a pre-tax loss of about $600 million for the first quarter as the coronavirus pandemic pummeled its operations, resulting in a 21% drop in vehicle sales to dealers versus the same quarter in 2019.
Toyota Motor Co on Monday said it was suspending auto production in its Brazil plants until at least June 22, joining General Motors Co which also expects to resume production in the same month.
General Electric Co said on Monday it used part of the $20 billion in proceeds from the sale of its biopharma business to cut debt.
"We have mostly undisbursed loans at this time" said Tony Wilkinson, president of the National Association of Guaranteed Government Lenders.
Worldwide oil producers, led by OPEC, are expected to cut production by roughly 20 million barrels per day (bpd), roughly equal to 20% of global daily supply, through a combination of mandated cuts, production falls due to poor economics, and purchases into oil reserves.
Germany's Volkswagen AG said on Monday its U.S. dealers would provide cars for free delivery of essential supplies to people in need during the coronavirus crisis.
Aurora Cannabis Inc's U.S.-listed shares fell nearly 14% in morning trade on Monday after the Canadian pot producer renewed an at-the-market offering under which it can raise as much as $350 million in equity capital.
Ford Motor Co said on Monday it expects to post a pre-tax loss of about $600 million for the first quarter as the coronavirus outbreak pummeled its sales and shuttered vehicle assembly plants, resulting in a 21% drop in vehicle sales to dealers versus the same quarter in 2019.
President Donald Trump said on Monday it was his decision when to reopen the U.S. economy, not that of state governors.
CNBC's Jim Cramer said Monday the slow rollout of promised small business loans is unfairly putting more burden on small business owners.
Companies in every sector face challenges giving forward-looking guidance in a pandemic that remains unpredictable.
Grocery distributor Performance Food Group Co said on Monday it had furloughed about 3,000 employees and cut pay, while funneling 1,100 workers to help keep its retail clients' shelves stacked as it deals with the pressures exerted on supply chains and its business by the coronavirus crisis.
Oil prices edged higher on Monday in a muted response to a global deal on record output cuts amid concerns over whether the pact will head off an oil glut as the coronavirus pandemic hammers demand.
Wall Street's main indexes slipped on Monday as corporate America launches into what is expected to be a painful quarterly earnings season due to the coronavirus pandemic.
Major meat companies in the United States and Canada have closed plants temporarily due to cases of the new coronavirus and concerns about its spread.