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MarketWatchMar 31, 2020
Tax Guy: Coronavirus stimulus-package tax relief: Withdraw $100K from your IRA — and repay in 3 years with zero tax liability
Use the money to pay bills, pay down your HELOC, or simply to get through the pandemic.

Reuters BusinessMar 31, 2020
Stocks end worst quarter since 2008 with small recovery
World stocks were set to close their worst quarter since 2008 on a brighter note, as Chinese factory data on Tuesday held out hope for an economic revival even as much of the rest of the world locked down to fight the coronavirus.

MarketWatch MarketPulseMar 31, 2020
Dollar Tree withdraws guidance amid coronavirus-related uncertainty heading into peak Easter shopping season
Dollar Tree Inc. said Tuesday that it is withdrawing its fiscal first-quarter and full-year outlook as the discount retailer heads into peak Easter shopping season beneath a cloud of uncertainty. Shares tumbled 3.6% in Tuesday premarket trading. Same-store sales trends soared through March 29, with the namesake chain up 7.1% and Family Dollar up 14.4%. However trends have "moderated," the company said, with same-store sales at Family Dollar up 8.8% for the seven days ending March 29 and Dollar Tree down 19.4% for the period. Food and household consumable sales remain strong, however the company's ability to restock items in high demand, weaker-than-expected sales in discretionary categories and the impact of the coronavirus on the Easter selling season raise questions. There were also higher first-quarter costs associated with pay and benefits, and other measures tied to the pandemic response. And there are concerns about gross margins due to the merchandise mix. As of March 30, Dollar Tree has $1.9 billion in cash and investments, including $750 million drawn down from its $1.25 billion revolving credit line. The company plans to pay $250 million due in April. All remodels and installations have been halted until April 27. The company doesn't expect to repurchase shares in the near-term. It is scheduled to report fiscal first-quarter earnings on May 28. Dollar Tree stock is down 15.1% for the year to date while the S&P 500 index has sunk 18.7% for the period.

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Cerberus-backed hospital gets Pennsylvania bail-out to prevent shutdown amid coronavirus crisis (Private Equity Breaking News)

CNBC FinanceMar 31, 2020
Stock futures fall as the Dow heads for its worst first quarter ever
The Dow is down 21.8% this quarter, on track for its worst quarter since 1987 and its worst first quarter ever.

Reuters BusinessMar 31, 2020
Disney to launch in India on April 3: ET
Walt Disney Co's video streaming service, Disney , will launch in India on April 3 through its local partner Hotstar, the Economic Times reported on Tuesday.

Reuters BusinessMar 31, 2020
Google Japan defends impartiality of search results amid lockdown rumors
Google on Tuesday defended the impartiality of its search results after users in Japan seeking to corroborate rumors of an imminent state of emergency declaration by the government were met with no results on its website.

Google Business NewsMar 31, 2020
Trump Suggests Lack of Testing Is No Longer a Problem. Governors Disagree. - The New York Times
Trump Suggests Lack of Testing Is No Longer a Problem. Governors Disagree.  The New York TimesTrump boasts about U.S. virus response while governors complain of testing delays  CBS This MorningCoronavirus: Three out of four Americans under some form of lockdown  BBC NewsTrump is using the pandemic to wage partisan civil war — but red states will suffer too  SalonRural-state governors tell Trump they need tests and medical supplies, too  CBS News

MarketWatch MarketPulseMar 31, 2020
Hilton Grand Vacations suspends U.S. sales operations, closes resorts and taps revolver
Hilton Grand Vacations INc. said Tuesday it is suspending its U.S. sales operations due to the growing number of travel restrictions and stay-at-home policies being implemented across the country during the coronavirus pandemic. The Orlando, Fla.-based company said it has closed some resorts and is temporarily pausing reservations at its U.S., Europe and Barbados resorts through the end of April. Sales in Japan and South Korea remain open on a limited basis and customer service team members are available for customers who want to change or cancel travel. "While the level of disruption to the travel industry is unprecedented, we remain confident in our ability to manage through this difficult period," Chief Executive Mark Wang said in a statmeent. "Approximately 40% of 2019 segment EBITDA was derived from recurring fees in our Finance and Club & Resort segments. Through the end of March, we have collected approximately 90% of our member fees for fiscal 2020, which fund all of the operational costs of our resorts." The company has a leverage ratio of 1.59 times and had just over $1 billion in liquidity at end-February. In March, the company drew down the remainder of its revolving credit facility. Shares were not active premarket, but have fallen 53% in the year to date, while the S&P 500 has fallen 19%.

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MarketWatch MarketPulseMar 31, 2020
Buckle stores to remain closed indefinitely, furlough most employees starting April 5
Buckle Inc. said Tuesday that it would keep its stores closed until further notice. As a result, the apparel retailer will furlough most of its store associates and corporate workers starting April 5. Furloughed staff will continue to receive benefits. Those who continue to work will do so with pay reductions. Buckle's Chief Executive Dennis Nelson will forego his salary until operations resume, and the company's board has chosen to forego their retainers for the current quarter. Buckle stock is down 20% for the past year while the S&P 500 index has fallen 7.3% for the period.

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

Reuters BusinessMar 31, 2020
Virgin Money delays branch closures and job cuts due to coronavirus lockdown
British bank Virgin Money said on Tuesday that it will halt until further notice the planned closure of 52 branches and 500 job losses, as it grapples with the fallout from the coronavirus outbreak.

Reuters Company NewsMar 31, 2020
UPDATE 5-Tokyo records most new coronavirus cases in a day as pressure for lockdown builds
* Shinzo Abe and 2nd-in-command Taro Aso to avoid joint meetings

UPDATE 3-Tokyo records most new coronavirus cases in a day as pressure for lockdown builds (Reuters Company News)
UPDATE 2-Japan's Abe, deputy avoid joint meetings to cut coronavirus risk as lockdown pressure builds (Reuters Company News)

CNBC FinanceMar 31, 2020
Coronavirus will hit profitability of Asia Pacific banks through 2021, says Fitch
Fitch Ratings earlier this month downgraded the outlook for 10 banking systems in Asia Pacific to "negative." All 17 banking systems in the region that Fitch assesses now have a "negative" outlook.

AdWeek NewsMar 30, 2020
Macy's Furloughs Most Employees Due to Financial Struggles and COVID-19 Closures
For the second half of March, all department stores under the red, star-shaped Macy's, Inc. umbrella, have been shuttered due to the ongoing COVID-19 crisis. While online shopping is still available for consumers, closing down the almost 870 physical locations of Macy's properties has hit the business hard. In a statement today, Macy's, Inc. announced...
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