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MarketWatch MarketPulseJul 06, 2020
Coronavirus tally: Global COVID-19 cases rise to 11.5 million, U.S. to nearly 2.9 million
The global tally for confirmed cases of the coronavirus that causes COVID-19 climbed to 11.47 million on Monday, according to data aggregated by Johns Hopkins University, with the U.S. leading the way by far with 2.89 million cases. The number of deaths grew to 534,784, while the number of people who have recovered reached 6.19 million. The U.S. death toll is 129,947, while 906,763 have recovered. Within the U.S., infections have climbed in 38 states over the past 14 days, according to a New York Times tracker, with Idaho, Montana and Florida leading the way. Internationally, Brazil is second to the U.S. with 1.60 million cases and 64,867 deaths, but is first with 1.03 million recovered. India is third measured by cases at 697,413, followed by Russia with 686,777 and Peru with 302,718. The U.K. has 44,305 fatalities, the highest in Europe and third highest in the world. China, where the illness was first reported late last year, has 84,871 cases and 4,641 fatalities.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseJul 06, 2020
Uber confirms deal to buy Postmates in an all-stock deal valued at $2.65 billion
Shares of Uber Technologies Inc. ran up 9.4% in premarket trading Monday, after the ride-hailing giant confirmed a deal to buy food-delivery service Postmates Inc. for $2.65 billion in stock. Uber estimates that it will issue about 84 million shares of its common stock, representing about 4.8% of the shares outstanding, for 100% of Postmates's equity. After the deal's closing, which is expected in the first quarter of 2021, Uber plans to keep Postmates's app running separately from its own food-delivery service app Uber Eats. "Uber and Postmates have long shared a belief that platforms like ours can power much more than just food delivery-they can be a hugely important part of local commerce and communities, all the more important during crises like COVID-19," said Uber Chief Executive Dara Khosrowshahi. Bloomberg and the New York Times reported over the weekend that a deal was expected to be announced as early as Monday. Uber's stock has gained 3.2% year to date through Thursday, while shares of rival Lyft Inc. has dropped 26.0% and the S&P 500 has lost 3.1%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseJul 06, 2020
Freeport-McMoRans' stock rises after upbeat copper, gold sales outlook
Shares of Freeport-McMoRan Inc. surged 5.2% in premarket trading Monday, after the copper and gold mining company provided upbeat sales guidance for the second quarter. The company said it expects copper sales to exceed previous guidance provided in April of 690 million pounds by approximately 8%, and gold sales are expected to exceed April guidance of 165,000 ounces by about 10%. In April, the company had cut its outlook for sales and production in an effort to mitigate the financial impact of the COVID-19 pandemic. On Monday, the company said its Lone Star project in North America is "substantially" complete, and is on track to produce 200 million pounds of copper per year, starting in the second half of 2020. The company also provided a liquidity update, saying it had not drawn on its $3.5 billion revolving credit facility, and had $9.9 billion in debt and $1.5 billion in cash as of June 30. The stock has lost 12.4% year to date through Thursday, while the S&P 500 has eased 3.1%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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