Starbucks (SBUX) Q2 2020 earnings: Same-store sales fall 10%

Starbucks on Tuesday said that its fiscal second-quarter global same-store sales fell 10% as the coronavirus hit sales in its two largest markets, the United States and China. The company also warned that its fiscal third-quarter results will take an even bigger hit from the pandemic, even as sales in China begin to recover.  Shares of the company fell more than 1% in extended trading. Here’s what the company reported for the quarter ended March 29: Earnings per share: 32 cents, adjusted Revenue: $6 billion  The coffee chain reported fiscal second-quarter…

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New York vs Texas: NY Has Nearly 50 Times More COVID-19 Deaths Per Capita

As of April 26, there were nearly 55,000 COVID-19 deaths reported in the United States. Of those, more than 22,000 (or about 40 percent) were in the state of New York alone. New Jersey was in second place, with nearly 5,900 COVID-19 deaths reported. If we combine these two states, we find that a majority of COVID-19 deaths in the United States have come from them alone. Combined, these two states accounted for more than 51 percent (28,213) of all deaths, while all other states combined made up less than…

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See what major airlines are doing to protect miles and elite statuses

It’s the question on the minds of elite fliers the world over: What’s to become of my airline miles and elite status if I can’t fly for a portion of 2020? Frequent fliers — many who exercise extreme loyalty to their chosen airline — are now finding out if the love affair is a reciprocal relationship. While some airlines have chosen to remain mum, many major carriers are making moves to protect their best customers. But there are definite winners and losers in the 2020 mileage game. The fine print…

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Airlines urge passengers to wear masks on board

A member of a ground crew walks past American Airlines planes parked at the gate during the coronavirus disease (COVID-19) outbreak at Ronald Reagan National Airport in Washington, April 5, 2020. Joshua Roberts | Reuters Airlines stepped up policies Monday to ensure passengers and employees wear face masks on board amid concerns about the spread of coronavirus. Starting May 4, all JetBlue Airways passengers will be required to wear a face covering, the strictest policy so far in the U.S. and one that follows the New York-based airline’s requirement that flight attendants…

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Why Americans Don’t Have Any Savings

Central bankers think too much saving is a problem that must be solved with more money creation. But the real problem is the Keynesian-style fractional reserve banking system. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: “Why Americans Don’t Have Any Savings” Source link

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3M (MMM) earnings q1 2020

This is breaking news. Please check back for updates. 3M shares jumped Tuesday after the manufacturing conglomerate reported first-quarter earnings and revenues that topped Wall Street’s expectations as demand for safety equipment and cleaning products spiked amid the coronavirus pandemic. The company said in a release that it saw a mix of results across its segments, but especially “strong” numbers in its personal safety unit given its role in the production of key N95 respirator masks amid the global Covid-19 outbreak. The St. Paul, Minnesota-based 3M said Tuesday that it’s doubled…

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Caterpillar (CAT) earnings Q1 2020

An employee assembles an excavator at the Caterpillar Inc. manufacturing facility in Victoria, Texas. Callaghan O’Hare | Bloomberg | Getty Images Caterpillar experienced a sales drop in the first quarter as the coronavirus pandemic disrupted demand for construction and mining. The industrial giant on Tuesday reported revenues of $10.6 billion in the first quarter, a 21% decrease compared with $13.5 billion in the first quarter of 2019. The decline was due to lower sales volume driven by “lower end user demand” and the impact from changes in dealer inventories, the company…

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Ending the Lockdowns Isn’t about Saving Money. It’s about Saving Lives.

“Saving lives versus saving money” comparisons confuse ends with means. The end of saving the economy is not to have more money. The end is to have resources necessary to preserve the lives and health of countless human beings. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: “Ending the Lockdowns Isn’t about Saving Money. It’s about Saving Lives.” Source link

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Southwest Airlines (LUV) earnings Q1 2020 results in loss and revenue plunge

A number of grounded Southwest Airlines Boeing 737 MAX 8 aircraft are shown parked at Victorville Airport in Victorville, California, March 26, 2019. Mike Blake | Reuters Southwest Airlines on Tuesday posted its first quarterly loss since 2011 and predicted “no material improvement in air travel trends” this spring as coronavirus devastates demand. The Dallas-based airline lost $94 million in the quarter on revenue of $4.23 billion, an 18% decline in sales compared with a year earlier, slightly lower than analyst estimates. The airline said it expects its operating revenues next…

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