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Under Armour Inc. (UA, UAA) said it has extended current store closures until further notice, and withdrawn its first quarter and full-year 2020 outlook, due to ongoing disruption and uncertainty related to the global COVID-19 pandemic. The company will temporarily lay off certain employees, reduce...

Herman Miller, Inc. (MLHR) said the company is implementing a range of actions to temporarily reduce costs and preserve liquidity, including a 10% reduction in cash compensation for the majority of the company's salaried workforce. The company is suspending certain employer-paid retirement contributions...

useconomy april03 The National Retail Federation Chief Economist Jack Kleinhenz stated that while the coronavirus pandemic "has triggered shocks", the underlying U.S. economy is sound unlike during the Great Recession of 2007-2009. However, Kleinhenz noted that bringing the virus under control was crucial or else the fallout would be worse. Kleinhenz also said that retail foot traffic is "nearly nonexistent".

Raytheon Technologies Corp. (RTX) announced the completion of the merger deal between Raytheon Company and United Technologies Corp. This follows the completion by United Technologies Corp. of its spin-offs of Carrier and Otis businesses. United Technologies' name has changed to Raytheon Technologies...

3M (MMM) said, on Thursday, the Administration formally invoked the Defense Production Act to require the company to prioritize orders from the Federal Emergency Management Agency (FEMA) for N95 respirators. The company said it looks forward to working closely with the Administration to implement the...

Manhattan Associates Inc. (MANH) said it is aggressively reducing operating expenses globally, and the salaries of its executives, amid the COVID-19 pandemic. It has suspended its share repurchase program. Effective April 1, 2020, the company has reduced the salaries of the chief executive officer...

Chico's FAS, Inc. (CHS), a omnichannel specialty retailer for women, announced Friday that its Board of Directors adopted a "Poison Pill" in the form of a limited duration shareholder rights plan in the best interest of all its shareholders. The rights plan was adopted due to the unprecedented impact...

Providing an update on the actions taken in response to the impact of coronavirus (COVID-19), Cummins Inc. (CMI) announced Friday it is taking temporary actions to lower costs in response to lower demand and customer shutdowns in several countries. The actions include a reduction of 50 percent in...

Constellation Brands Inc. (STZ) said that it expects beer sales growth for fiscal year 2021 to be 7%-8% including the impact of the Ballast Point divestiture and annual organic net sales growth of 8%-10%. In Wine and Spirits segment, the company expects net sales and operating income for fiscal year...

FIS (FIS) said it is partnering with U.S. banks and credit unions to provide loans and other critical economic relief to small businesses and merchants under the U.S. Small Business Administration Paycheck Protection Program within the CARES Act. The loans will be forgiven if used to pay for payroll...

Medical technology company Becton, Dickinson and Co. or BD (BDX) and molecular diagnostics company BioGX Inc. announced Friday that the U.S. Food and Drug Administration (FDA) has granted Emergency Use Authorization (EUA) for a new diagnostic test that will enable hospitals to screen for coronavirus...

AECOM (ACM) said it has implemented immediate actions to mitigate financial impacts of the coronavirus pandemic. This includes a temporary 20% reduction in salaries among the Board of Directors, executive leadership team and other senior leaders. AECOM said it will continue to work with its federal,...

Providing a business update related to the coronavirus (COVID-19) impact, Tenneco Inc. (TEN) announced Friday that it is withdrawing its financial guidance for the first quarter and full year 2020 issued on February 20, 2020 amid the uncertainty driven by the unpredictability of the pandemic and associated...

Carrier Global Corp. (CARR) said its shares will begin trading on the NYSE under the symbol CARR. Carrier Global is a provider of heating, ventilating and air conditioning, refrigeration, and fire & security technologies. As an independent company, Carrier said it will have greater focus and enhanced...

While reporting financial results for the fourth quarter and fiscal 2019 on Friday, Chinese real estate developer Xinyuan Real Estate Co., Ltd. (XIN) said it expects contract sales for the full year 2020 to be in the range of RMB 20 billion and RMB 22 billion. However, the outlook may be subject to...

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