Investors need to prepare for another volatile trading week as the US administration warns of the toughest week ahead in the fight against the coronavirus, while the Saudi-Russian oil reduction deal seems increasingly dubious.
President Donald Trump said in a news conference Saturday that the coming week would be “probably the toughest” for the US. US indices reported their third weekly decline last week. The Dow lost 1.7%, while the S&P 500 fell 1.6%. NASDAQ ended the week with 1.5%.
Tobacco giant Altria Group (NYSE: MO) is under pressure after the Federal Trade Commission sues the company to cancel its $ 12.8 billion deal for Juul Labs Inc., saying the companies are competitors that do not have to work together.
Warren Buffett’s Berkshire Hathaway (NYSE: BRKa) announced that at the end of Friday it had sold about 18% of its stake in Delta Air Lines (NYSE: NYSE: DAL) this week amid a coronavirus pandemic that forced airlines to cease flight operations.
According to regulatory documents, Berkshire sold nearly 13 million shares of Delta for about $ 314 million and approximately 2.3 million shares of Southwest Airlines Company (NYSE: LUV) for about $ 74 million.
Apparel manufacturer Levi Strauss & Co. (NYSE: LEVI) will report its fiscal earnings in the first quarter of 2020 on Tuesday, April 7, after the market closes. On average, analysts expect $ 0.35 earnings per share from sales of $ 1.46 billion.
The San Francisco-based apparel company is unlikely to impress investors amid global blockades due to the coronavirus pandemic, as many malls and retailers are closed and consumers remain inside and instead focus on food and more. basic shopping.
Trader Georgi Bozhidarov