Molson Coors Beverage Company (NYSE: TAP) slipped to a loss in the first quarter of 2020 from a profit last year, due to unfavorable unrealized mark-to-market changes on its commodity positions and HEXO warrants, as well as the on-premise impacts of the coronavirus pandemic, the impact of lower financial volume, inflation and negative mix.
The top line fell by 9% due to financial volume declines, estimated keg sales returns and reimbursements, as well as unfavorable mix. The board is actively evaluating various capital allocation options, including a suspension, reduction, or temporary elimination of its dividend. On March 27, Molson withdrew its financial outlook for 2020 and beyond due to the rapid spread of the COVID-19 outbreak.
The pandemic-induced financial uncertainties have changed the dynamics of the consumer lending market. Customers are being drawn to online lending platforms that provide easy access to credit on convenient terms
While bitcoin and other digital currencies have seen a fair share of ups and downs so far this year, investor interest in cryptocurrency has grown undeniably during this period. The
Software giant Oracle Corporation (NYSE: ORCL) reported a 28% growth in fourth-quarter earnings, aided by an increase in revenues. The results also topped Wall Street's prediction. At $11.2 billion, revenues