Navistar International Corporation (NYSE: NAV) reported a narrower loss in the second quarter of 2020 driven by lower costs and expenses despite a 36% dip in the top-line. However, the results exceeded analysts’ expectations.
Revenue was impacted by the COVID-19, resulting in lower volumes in the company’s Core (Class 6-8 trucks and buses in the United States and Canada) market, with charge-outs being down nearly 40% compared to the same period one year ago.
During the quarter, the company took several actions to position itself in response to the global pandemic. In April, the company announced a series of actions to conserve over $300 million of cash for the year, without jeopardizing its strategic plans.
Ferrari NV (NYSE: RACE) reported second-quarter financial results before the regular trading hours on Monday. RACE shares fell 2.3% immediately following the announcement. The stock has increased by 8% since
Tyson Foods, Inc. (NYSE: TSN) reported better-than-expected earnings for the third quarter. Meanwhile, revenues missed the Street view. The packaged food company posted adjusted earnings of $1.40 per share for the
As the business world limps back to normalcy from the crisis set off by coronavirus, most e-commerce companies are going through a period of hectic activity, thanks to the spurt