Stocks making the biggest moves midday: Intel, Zoom Video, Party City, Airbnb & more
An exterior view of Party City store, who are closing their doors on July 08, 2020 in Pembroke Pines, Florida. Airbnb — The vacation rental stock jumped more than 6% on Wednesday, building off an 8.6% rise in the previous session. Zoom Video — Shares popped more than 7%, continuing their rebound from recent losses. The video conferencing company issued new shares to raise about $1.75 billion in cash Wednesday. Party City — Shares tumbled more than 14% as the company gave weak guidance for its fourth quarter at an investor conference.cnbc.com
Retailers are selling distasteful COVID-inspired Halloween masks, costumes. Here’s what we found
Here’s what we found:This “Corona” beer costume is the least distasteful of the bunch. The costume’s beer label reads “No Known Cure COVID-19.″ Note the mask on the person wearing the costume. Product shot from Amazon.com (Amazon)This ghoulish, cartoon-looking lime-green latex mask is one of the many available mask options on the site. Product shot from Amazon.com (Amazon)This is probably the only costume you’ll be able to find at a local Halloween store. Product shot from Amazon.com (Amazon)Do you think it’s OK to dress up in one of these costumes for Halloween?
Retail sales look to recover; nations eye economic concerns
________________________EARNINGS RESULTS: Party City's first-quarter sales fell 19% as it dealt with temporary store closures. The airlines want the government to re-adopt its previous quarantine policy, where quarantine was limited to passengers from high risk countries. Quarantine measures imposed this week stipulate that all passengers bar a handful of exceptions like truckers or medical workers must fill in a form detailing where they will self-isolate for two weeks. CENTRAL GOVERNMENTS & BANKS: Japans parliament approved a 32 trillion yen ($300 billion) second supplementary budget Friday to help fund 117 trillion yen ($1.1 trillion) in measures to soften the blow to the economy from the virus outbreak. The Office for National Statistics said Friday that all areas of the economy were hit, in particular pubs, education, health and car sales.
Stocks making the biggest moves in the premarket: Tesla, Amazon, Disney, Boeing, Zoom Video & more
The company warned the economic impact of the coronavirus outbreak would be material, and that it is withdrawing its 2020 guidance. Tesla (TSLA) Tesla will furlough all non-essential workers and cut salaries as the virus outbreak shuts down the automaker's production. Amazon (AMZN) Amazon is suspending its "Amazon Shipping" service in June, according to the Wall Street Journal. ISS is calling for investors to withhold votes for Chairman Stephen Bergstrom, according to The Wall Street Journal, due to the highly restrictive nature of the shareholder rights plan. Perrigo (PRGO) Perrigo said it saw a sales boost in the first quarter due to the coronavirus outbreak.cnbc.com
Stocks making the biggest moves in the premarket: Dollar General, GE, Best Buy, eBay & more
Dollar General also raised its quarterly dividend to 36 cents per share from 32 cents a share. Party City (PRTY) The party supplies retailer earned 51 cents per share for its fourth quarter, well below the 88 cents a share consensus estimate. Icahn has been critical of Occidental management, particularly its decision to buy Anadarko Petroleum for $38 billion last year. General Electric (GE) The cost of insuring GE debt has jumped to levels last seen in 2018, according to data from information provider Markit and quoted in The Wall Street Journal. Best Buy (BBY) Best Buy Executive Chairman Hubert Joly will not stand for re-election at the electronics retailer's annual meeting in June.cnbc.com
The best days of Party City may be in the past. Here's what happened to it in 2019
At Party City, Halloween is the holiday that fills its coffers. Party City declined to comment on questions about its performance, but it did address concerns about a worldwide shortage of helium. But there are a variety of problems facing the business, including the aftershocks of the helium shortage and changing consumer preferences. Does Party City have reason to celebrate in 2020? Watch the video above to learn why the party store isn't a happy as it used to be.cnbc.com
Stocks making the biggest moves premarket: Roku, SeaWorld, Boeing, Square, Expedia & more
Dish Network (DISH) Dish reported quarterly earnings of 66 cents per share, 5 cents a share above estimates. Qualcomm (QCOM) Qualcomm reported quarterly profit of 78 cents per share, 7 cents a share above estimates. Roku (ROKU) Roku lost 22 cents per share for the third quarter, 6 cents a share smaller than anticipated. Expedia (EXPE) Expedia fell 42 cents a share shy of consensus estimates, with quarterly profit of $3.38 per share. Square (SQ) Square came in 5 cents a share above estimates, with adjusted quarterly earnings of 25 cents per share.cnbc.com
Group: Major retailers shouldn't sell race-themed costumes
Getty Images via CNN(CNN) - The largest US Hispanic civil rights group's national board voted unanimously Friday to urge major manufacturers and retailers to stop selling costumes based on racial stereotypes. The LULAC vote was taken a day after CNN asked the group to respond to photos of costumes sold by Party City, Spirit Halloween, Rubie's Costume Company and on Amazon. CNN affiliate KRQE had earlier reported on shoppers' reaction to a "Mexican Man" costume for sale at a Spirit Halloween store in Albuquerque, New Mexico. "Selling and dressing up in these costumes is just this -- it's racist and unacceptable," Benavides told CNN in an earlier statement. Outrage over similar costumes sold by Spirit Halloween dates to at least October 2009, when the East Bay Times reported on Latino residents of that California community being upset about it.
Stocks making the biggest moves premarket: Cardinal Health, Viacom, Roku, IAC, Lyft, Zillow & more
Revenue beat forecasts as well. Norwegian Cruise Line The cruise line operator came in 4 cents a share above estimates, with adjusted quarterly profit of $1.30 per share. Viacom The media company reported adjusted quarterly profit of $1.20 per share, 13 cents a share above estimates. Fox Corp. Fox beat estimates by 3 cents a share, with adjusted quarterly profit of 62 cents per share. TripAdvisor TripAdvisor fell 6 cents a share short of forecasts, with adjusted quarterly profit of 45 cents per share.cnbc.com