 | | | | Walt Disney Co estimated global coronavirus lockdowns cut profits by $1.4 billion, mostly from its shuttered theme parks, but said it would reopen Shanghai Disneyland next week. | | | | | | Occidental Petroleum Corp on Tuesday reported that it swung to a loss in the first quarter on write downs, and the troubled oil producer cut its budget for the third time since March in response to the historic crash of oil prices. | | | | | | Match Group Inc reported quarterly revenue that fell short of Wall Street estimates on Tuesday, hit by slowing growth in its popular dating app "Tinder" as fewer people signed up and paid for its premium features amid the COVID-19 pandemic. | | | | | | Beyond Meat Inc reported better-than-expected quarterly results on Tuesday as it sold more of its plant-based meat products and cut costs on packaging and labor, sending its shares up 3% after the bell. | | | | | | A gauge of global stock markets rose on Tuesday, snapping a three-day losing streak, while oil prices soared as investors shrugged off grim economic data on hopes the easing of coronavirus lockdowns will jump start economies and revive fuel demand. | | | | | | Airbnb Inc is laying off 25% of its workforce, or nearly 1,300 employees, the home rental startup said on Tuesday, as the COVID-19 pandemic brings global travel to a near standstill. | | | | | | Venerable U.S. retailer Lord & Taylor plans to liquidate inventory in its 38 department stores once restrictions to curb the spread of coronavirus are lifted as it braces for a bankruptcy process from which it does not expect to emerge, people familiar with the matter said on Tuesday. | | | | | | Mattel Inc will have a new line of "Baby Yoda" toys ready to hit shelves in time for Christmas, the toymaker said on Tuesday, as it joined rival Hasbro in charting a recovery from the financial damage caused by the coronavirus lockdowns. | | | | | | Wall Street's main indexes gained on Tuesday as healthcare stocks rallied, oil prices surged and a number of countries and U.S. states eased coronavirus-induced restrictions in an attempt to revive their economies. | | | | | | Vegetarian burger maker Beyond Meat plans to offer large value packs and discounts to some U.S. retailers this summer, hoping to grab a larger share of the market as prices for beef rise due to COVID-19-related production disruptions. | | | | | | California and three of its largest cities on Tuesday sued Uber Technologies Inc and Lyft Inc , accusing them of classifying their drivers improperly as independent contractors instead of employees, evading workplace protections and withholding worker benefits. | | | | | |
