unemployment rate us april 2020

US unemployment rate reaches post-WW2 historical high, economists were predicting worse

Alejandro Arrieche

Approximately 20.5mn Americans lost their jobs in the month of April, according to an official report from the US Department of Labor released this morning. The report, which was highly expected by the investment community, revealed that the unemployment rate landed at 14.7%, lower than the 15% to 20% rate most economists were expecting for…

Lyft stock rises on cost cutting, avoids talk of profit by 2021

Siraj Sarwar

Lyft (NASDAQ: LYFT) stock price shot up almost 17% as the ride-hailing company dramatically narrowed losses from the year-ago quarter and revenues jumped at a double-digit rate despite the negative impact of coronavirus outbreak. First quarter year over year revenue growth of 23% to $956m topped the consensus estimate of $882m. However, the San Francisco-based…

Ad platform Trade Desk’s stock jumps 60% in a month, analysts say sales hold up despite virus

Siraj Sarwar

The Trade Desk (NASDAQ: TTD) stock price rebounded more than 60% after bottoming below $160 in March as the advertising platform has benefited from a surge in programmatic ad buying. The California-based firm’s limited exposure to the travel industry, which is hit harder by the coronavirus pandemic, along with a strong customer retention rate of…

Cruise lines stocks swing wildly, airlines fare little better as Warren Buffett sells

Siraj Sarwar

Cruise lines stocks such as Carnival (NYSE: CCL), Royal Caribbean (NYSE: RCL), and Norwegian Cruise (NYSE: NCLH) swung wildly on Monday following a Wall Street Journal report that blamed cruise lines for spreading virus at its initial stage, with expectations that the volatility will extend into the coming days. The weekend report shows how cruises…

Lufthansa and Air France follow US rivals into bailout talks

Siraj Sarwar

European biggest airlines Deutsche Lufthansa and Air France agreed to get government support to survive in a challenging environment that has forced them to ground the majority of aircraft, leaving them to burn millions of euros in staff and maintenance costs. Air France agreed to a €7bn bailout from the French government. The bailout package,…

Airline stocks

Warren Buffett dumps airlines, looks for new options

Siraj Sarwar

Warren Buffett, the chief executive of Berkshire Hathaway, says he pulled out all of the stock investments from four airlines as the investment firm reported a $50bn loss in the first quarter. Speaking at the annual shareholders’ meeting, the world’s most famous investor said he was wrong about airlines and claims that the world has…