Market Wavering, On Track For Worst Week Since 2008: WarnerMedia Parent AT&T Scraps $4B Stock Repurchase On Coronavirus Fears

Investors are weighing a massive stimulus package being finalized by Congress against the rapid spread of the coronavirus infection, corporate distress and surging unemployment in the U.S. Market players are really hoping indexes will be able to lock in Thursday’s gains, although they may be disappointed. If the S&P 500 did end today’s session higher, it would the first back-to-back gain in more than a month.

The moves follows a modest recovery Thursday in choppy trading driving by tech and energy stocks after weeks of stomach churning declines. Exhibitors in particular had rallied and the upward trajectory continued sort of on Friday The industry has asked for a cash injection from Congress that will help it survive a period where theaters across the country are shuttered. Today, they were holding steady, led by Cinemark, up about 5%. AMC Entertainment, the nation’s biggest chain, Imax and National Cinemedia were bobbing between positive and negative territory, making it hard to tell where they would shake out.

AT&T said Friday it was canceling a planned $4 billion accelerated share repurchase in the second quarter. “While our business continues to operate effectively during the Covid-19 global pandemic,” the company said in an SEC filing,, “we have decided at this time to cancel this agreement and any other repurchases to maintain flexibility and focus on continued investment in serving our customers, taking care of our employees and enhancing our network, including nationwide 5G.

Struggling Live Nation, which got a boost yesterday when investor Liberty Media paid a loan so it wouldn’t breach covenants, was down up 1%. Elsewhere, Disney was off 1.4%; Comcast off 1.5%; ViacomCBS about flat; Netflix up 3.7%.

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Wall Street weekahead: Coronavirus uncertainty muddies views on buying opportunities for plunging stocksU.S. stock valuations are tumbling in the wake of the coronavirus-fueled market ... Indonesian minister, Luhut Binsar Pandjaitan in December 2019 said Indonesian Rupiah (IDR) will be under IDR 10,000 / 1 USD. Now USD 1 = IDR 16,002 Should he resign? Indonesia I'm not buying more until the market holds steady above 21.5 Until then, it's just bouncy boy off the bottom mainstreet acorns investment It is recommended to trade in the normal mode, because empathy between business and government consumers does not significantly deteriorate the direction of the market.
Fonte: Reuters - 🏆 2. / 97 Consulte Mais informação »

Senator sold off stock before market losses from virus beganWASHINGTON (AP) — Senate Intelligence Committee Chairman Richard Burr, R-N.C., sold as much as $1.7 million in stocks just before the market dropped in February amid fears about the coronavirus... Recall the motherfucker. Conservative here. Burr should be jailed as well as any other politician profiting off this crisis Anybody notice the irony of his name being Richard?
Fonte: AP - 🏆 728. / 51 Consulte Mais informação »

Uber stock skyrockets after company says worst of coronavirus fallout is behind itHealth and government officials have asked the public to stay home in a bid to slow the coronavirus, which has caused fewer people to request Uber rides. But Uber said the company's food delivery segment is picking up. Lying! Whole country is shutdown going nowhere and ya you are just trying to sell your stock. Don’t buy it! It hasn't even started yet, and this guy goes around saying its over 😂, and CNBC the fake news network is reporting such nonsense as well. Boy, you guys are desperate to pump the market once again! Get your fundamentals right, you won't have to do such fakery. NoRespectLeft. Skyrockets? Resistance incoming...
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »