Signs of life in the RV business; Zoom falls for third day

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An Indian priest sanitizes the idol of Lord Shiva and Godess Parvati at a temple, in Prayagraj, India, Monday, June 8, 2020. Religious places, malls, hotels and restaurants open Monday after more than two months of lockdown as a precaution against coronavirus. (AP Photo/Rajesh Kumar Singh)

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Monday related to the national and global response, the work place and the spread of the virus.


SALES REPORT: The pandemic has affected companies in vastly different ways. Retailers like Target and Walmart became critical lifelines, while others have suffered.

— With production shuttered due to the pandemic, Wall Street was expecting some dire results from the RV company Thor Industries. As it turns out, being locked in has a lot of people thinking about hitting the road.

Not only did Thor avoid losses as most industry analysts had expected, it posted sales of $1.68 billion. Profit and revenues fell sharply, but shares rose sharply on the performance Monday.

“Despite this being one of the most unusual quarters I have ever experienced, I am pleased to report that we were profitable and generated positive net cash from operations, said CEO Bob Martin.

Martin also said people are buying RVs as a second office.

— The first two months of the second quarter have been a mixed bag for International Flavors & Fragrances, which makes ingredients for food, cosmetics and other consumer-focused companies. Sales of products used for packaged food, drinks, hygiene and disinfectant rose 3% compared with a year ago, according to preliminary data.