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Google Market NewsMay 26, 2020
: Coronavirus Live Updates - NPR
: Coronavirus Live Updates  NPRCalifornia announces churches, houses of worship can reopen under certain guidelines amid coronavirus outbreak  Fox NewsCalifornia church going to Supreme Court on in-person restrictions  CNNNo Film & TV Reopening COVID-19 Guidelines Today From Gavin Newsom After All; Houses Of Worship & Mall Restrictions Lifted  Deadline

Yahoo BusinessMay 26, 2020
US STOCKS-S&P 500 futures surge on recovery, vaccine hopes
HBO's new HBO Max streaming service will be rolled out on Wednesday. HBO Max is WarnerMedia's and its parent AT&T's (T) hedge against consumers cutting the cord to traditional cable and satellite services. It aims to establish a direct relationship with its audience much the way Netflix (NFLX) and Disney (DIS) have. AT&T will use its roster of phone, broadband and pay-TV customers to drive subscriptions to the service.Netflix recently reported its largest subscriber surge in years, while Walt Disney Co.'s Disney  topped 50 million users just months after it launched.Top HBO Max executives contemplated delaying the streaming service's launch in mid-March, when the virus started forcing most Americans to stay home, according to Robert Greenblatt, chairman of HBO Max parent WarnerMedia Entertainment.However, Greenblatt said, "It quickly dawned on us that people were watching more television and we thought...‘let's get this thing to the customers.'"HBO's subscriber numbers have been relatively flat for the past several years at around 33 million, and WarnerMedia is betting that the broader mix of programming available on HBO Max will appeal to people who avoided HBO due to its often dark content.At $15 a month, the service will be costlier than its streaming rivals. Netflix currently costs new subscribers $12.99 a month and Disney 's  is priced at $6.99 a month. WarnerMedia had to offer HBO Max at that price, however, because under existing agreements with cable and satellite operators it isn't allowed to make

MarketWatch MarketPulseMay 26, 2020
Hibbett Sports beats consensus estimates amid spike in e-commerce sales during pandemic
Hibbett Sports Inc. posted stronger-than-expected adjusted profit and sales for the first quarter as a steep rise in e-commerce sales helped offset the effect of closed stores during the coronavirus pandemic. The Birmingham, Ala.-based sports retailer said it had a net loss $15.3 million, or 92 cents a share, in the quarter, after income of $27.9 million, or $1.50 a share, in the year-earlier period. Adjusted per-share earnings came to 31 cents, ahead of the 19 cents FactSet consensus. Sales fell 21.4% to $269.8 million from $343.3 million, but were also ahead of the $211 million FactSet consensus. E-commerce sales rose 110.5% and accounted for 22.3% of total sales. "The decline in overall sales was mainly due to the large number of stores that were closed entirely or limited to fulfill e-commerce orders and curbside pick-up which began in March," the company said in a statement. "Hibbett Sports and City Gear stores began to reopen to customer traffic toward the end of April as permitted by the Company's landlords and the communities the company serves." The company ended the quarter with $106.2 million in cash. It has $50 million of debt outstanding and $25 million available under a $75.0 million secured credit facility. The company is not providing guidance given the uncertainty created by the pandemic. Shares were not active premarket, but have fallen 30% in the year to date, while the S&P 500 has fallen 9%.

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.



Google Business NewsMay 26, 2020
China's Coronavirus Tracking Apps Stir Privacy Fears as They Linger - The New York Times
China's Coronavirus Tracking Apps Stir Privacy Fears as They Linger  The New York TimesChinese city proposes permanent health tracking with a score based on drinking and exercise habits  CNBCWith the coronavirus under control, this Chinese city wants to score and rank its residents based on their health and lifestyle  CNNChinese city plans to turn coronavirus app into permanent health tracker  The Guardian

MarketWatchMay 26, 2020
Need to Know: BlackRock portfolio manager says stock investors should watch out for these blind spots right now
Stocks are looking up for Tuesday, as investors get back to work after the Memorial Day weekend. Our call of the day says there is plenty that investors don't understand right now, which could trip them up in future.

Yahoo BusinessMay 26, 2020
U.S. Futures Jump with Stocks; Dollar, Bonds Drop: Markets Wrap
(Bloomberg) -- U.S. stock futures rose with global equities on Tuesday as further moves to ease coronavirus lockdowns in major economies outweighed concerns over escalating geopolitical tensions. The dollar declined for a second straight session.Contracts on the three main U.S. equity benchmarks rallied from Friday's close, with S&P 500 futures topping 3,000. The Stoxx Europe 600 Index jumped, with travel stocks surging on reports that Berlin plans to lift travel warnings for 31 European countries. The U.K. also announced steps toward getting back to business, sending the pound up by the most in almost a month.Japan led the equity advance in Asia as the world's third-largest economy reopened, and shares rose in Hong Kong, which showed signs of stabilizing after weekend unrest. Treasuries slid after the three-day U.S. weekend, alongside Germany's government debt. WTI crude oil advanced to around $34 a barrel on hopes the market may rebalance after historic output cuts.Investors are coming out of the holiday weekend in a risk-on mood, even as tensions between Washington and Beijing continue to flare. China condemned the U.S. for adding 33 Chinese entities to a trade blacklist, but without announcing any retaliatory steps. Meanwhile, Beijing sought to reassure Hong Kong that its judiciary would remain independent under a new national security law.Cutting against the tensions are mounting signs that coronavirus infection rates are moderating. The Japanese government ended its nationwide state of emergency

Reuters BusinessMay 26, 2020
Macy's announces $1 billion bond offering to repay credit facility
Macy's Inc said on Tuesday it planned to raise $1.1 billion in a bond offering, backed by a first mortgage on some of its properties, to repay funds borrowed under a revolving credit facility.

Google Business NewsMay 26, 2020
Special Report: Bolsonaro brought in his generals to fight coronavirus. Brazil is losing the battle - Reuters
Special Report: Bolsonaro brought in his generals to fight coronavirus. Brazil is losing the battle  ReutersBrazil faces dark week as Covid-19 toll rises  CNNJair Bolsonaro under pressure over Trump's travel ban on Brazil  The GuardianBrazil's Bolsonaro says he expects top court to end probe into his conduct over police  Reuters

Yahoo BusinessMay 25, 2020
Hong Kong Finance Has a Security Blanket
(Bloomberg Opinion) -- China's decision to impose a national security law on Hong Kong has spurred speculation of capital flight and an erosion of the city's status as an international financial center. As a venue for share offerings, at least, the near-term future is looking bright. For that, the territory can thank worsening U.S.-China relations.U.S.-listed Chinese technology companies are lining up to sell stock in Hong Kong, seeking refuge from an environment that has become increasingly less hospitable. Nasdaq-traded JD.com Inc. and NetEase Inc. are planning secondary listings in the city next month, following a trail blazed by Alibaba Group Holding Ltd. in November. Optimism that more companies will join them drove shares of Hong Kong's exchange operator up more than 6% on Monday.There's every reason to expect these stock offerings to do well, and push Hong Kong back up the rankings of the world's largest fundraising centers. So far this year, the city is the sixth-largest market by capital raised. It topped the table for the whole of 2019 when New York-listed Alibaba sold $13 billion of stock, underscoring the existence of a strong local investor base for China's most successful companies.The reception for Alibaba suggests that Asian institutional investors want to be able to trade China's leading enterprises in their own time zone. JD and NetEase are also among the nation's technology champions. Beijing-based JD competes with Alibaba in e-commerce, while Hangzhou-based NetEase is behind some of the most popular mobile games in China.
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