KEY POINTS Exxon is cutting its capital spending by 30% as the coronavirus pandemic continues to hammer oil prices. The company is “committed to maintaining” its dividend, CEO Darren Woods said Tuesday on CNBC’s “Squawk Box.” Shares of Exxon gained 1.9% on Tuesday, but are
KEY POINTS The coronavirus pandemic continues to pose unprecedented challenges to the renewable energy sector. Firms are attempting to juggle production targets with increasingly tough lockdown measures. Danish wind turbine manufacturer Vestas has suspended guidance for 2020, as the coronavirus pandemic continues to pose unprecedented
Pinterest — Shares of the social media company soared 14% in extended trading after Pinterest released preliminary results ahead of its first-quarter earnings call in May. The company expects revenue ranging from $269 million to $272 million in the first quarter. It anticipates 365 million to 367 million
Dow Jones Industrial Average fell 26 points The Dow lost 26.13 points, or 0.12%, to 22,653.86. The S&P 500 fell 0.16% to 2,659.41. The Nasdaq Composite dropped 0.33% to 7,887.26. Stocks gave up a massive rally from earlier in the day as Wall Street assessed the latest news on the coronavirus
KEY POINTS President Donald Trump removed the lead watchdog overseeing the $2 trillion coronavirus fund. Acting Pentagon Inspector General Glenn Fine was tapped to lead the Pandemic Response Accountability Committee last week. By removing him from his Pentagon post, Trump makes Fine ineligible to lead the
For Maia Bittner, the daughter of “hippies,” her love for technology started with eBay. And it didn’t hurt it that she found out what that e-commerce site was when she was an 11-year-old living in “the middle of nowhere” Washington State. She would buy video
Morning Markets: An anecdote from WeWork India’s operations as we watch its domestic business eye layoffs to curtail costs. It’s an open question whether the We Company’s pulled public offering will chill the domestic IPO market. But the failed transaction is having an impact on
Chinese bitcoin hardware company Canaan Creative is aiming to raise $400 million in an initial public offering, according to paperwork filed with the Securities and Exchange Commission. Canaan makes application-specific integrated circuits, hardware often used for bitcoin mining or artificial intelligence applications. The company claims