U.S. lawmakers introduced a bipartisan bill on Tuesday that would reform aircraft certification following two fatal 737 MAX crashes, U.S. Senators Roger Wicker and Maria Cantwell said in a joint release.
Rocket builder Astra will try again for its first orbital rocket launch in July, as the startup navigates the coronavirus environment. …read more
“I think this is a sign that things are coming back. Just coming back,” CNBC’s Jim Cramer said Tuesday. …read more
U.S. business inventories fell more than expected in April as the COVID-19 crisis depressed imports, suggesting inventory investment could again be a drag on economic output in the second quarter.
Regulators never thought investors would be gullible enough to buy Hertz ‘garbage,’ Harvey Pitt says
Former Securities and Exchange Commission Chairman Harvey Pitt said investment banks could face legal challenges related to Hertz’s secondary stock sale while in bankruptcy. …read more
Southeast Asian ride-hailing and payments firm Grab is set to announce layoffs on Tuesday, sources told Reuters.
Oil prices slid on Tuesday on lingering concerns over the threat to fuel demand from the resurgence of new coronavirus infections around the world, though hopes for further cuts in crude supplies stemmed losses.
Wall Street is on the cusp of reopening its trading floors amid what has been a historic run in markets. …read more
Robinhood traders “are just doing stupid things, and in my opinion, this will end in tears,” Cooperman said. …read more
Retail investors are outperforming hedge funds during the market comeback, according to Goldman Sachs. …read more
We used TipRanks analyst ranking service to pinpoint Wall Street’s best-performing analysts. …read more
As fears of a drastic pullback intensified, it has gotten four times more expensive to hedge against more losses in the S&P 500 than before the coronavirus landed. …read more
Enviva manufacturers wood pellet plants in the southeastern part of the U.S. from tree farm scraps and pulp mill waste. …read more
Hertz Global Holdings Inc said it won bankruptcy court approval on Friday to sell up to $1 billion in stock, capitalizing on a remarkable rally in its shares driven by speculators defying conventional market wisdom.
The United States is investigating a Venezuelan shipping magnate for possibly violating U.S. sanctions by bringing fuel to gasoline-short Venezuela, according to two senior Trump administration officials.
China’s Tencent Music Entertainment Group on Friday reported a 5.2% passive stake in Warner Music Group Corp , about a week after the world’s third-largest recording label’s debut on the Nasdaq.
“They’re fomenting action. Once you foment action, it brings in suckers and then maybe they’ll buy the stock thinking that there’s something going on,” CNBC’s Jim Cramer said Friday. …read more
Sandy Weill, the former Citigroup CEO and chairman who helped create the megabank model in the 1990s, said Friday that Morgan Stanley and Charles Schwab were “really very good buys.” …read more
Oil prices fell on Friday, extending big losses from overnight as U.S. coronavirus cases surged this week and raised the prospect of a second wave of the COVID-19 outbreak hitting demand in the world’s top consumer of crude and fuel.
The company, founded and owned by Detroit billionaire Dan Gilbert, has filed its IPO prospectus confidentially, sources said. …read more