• How Hollywood is responding amid George Floyd protests
    Yahoo Finance Video

    How Hollywood is responding amid George Floyd protests

    Yahoo Finance's Alexandra Canal breaks down how media and entertainment giants are supporting the Black Lives Matter movement as protests continue to rage across the country in response to the death of George Floyd.

  • GM should emerge from pandemic with permanently lower costs: CEO
    Reuters

    GM should emerge from pandemic with permanently lower costs: CEO

    General Motors Co <GM.N> should emerge from the coronavirus pandemic with a permanently reduced cost base after it scrambled to reduce its cash burn to withstand a two-month shutdown in North American production as part of efforts to halt the spread of COVID-19, its top executive said on Tuesday. "We were quickly able to take out significant costs and we are being very conservative about what costs we turn back on," Chief Executive Officer Mary Barra said during an investor event with Credit Suisse. "I believe we will come out of this with a lower cost structure that is permanent."

  • Barrons.com

    Here’s What Tesla, GM, Ford and Chrysler Had to Say About George Floyd’s Death

    All four major U.S. auto makers have spoken out about the killing of George Floyd, Ahaud Arbery and Breonna Taylor.

  • MarketWatch

    Dow Inc., Caterpillar share gains lead Dow's 230-point jump

    DOW UPDATE Buoyed by positive momentum for shares of Dow Inc. and Caterpillar, the Dow Jones Industrial Average is climbing Tuesday afternoon. Shares of Dow Inc. (DOW) and Caterpillar (CAT) have contributed to the blue-chip gauge's intraday rally, as the Dow (DJIA) was most recently trading 230 points higher (0.

  • How Businesses Can Navigate the Minefield of Social Unrest
    Bloomberg

    How Businesses Can Navigate the Minefield of Social Unrest

    (Bloomberg Opinion) -- One of the more popular sentiments expressed on Twitter over the weekend was that the astronauts who left Earth on Saturday made a good choice. After months of suffering from a global pandemic that has caused mass unemployment, school shutdowns and over 100,000 deaths, Americans are now reeling from a wave of nationwide protests following the death of a black man at the hands of Minneapolis police. What should companies say and do amid events so fraught that many people would prefer not to be on the planet?“It’s always risky for brands to weigh in on deep social unrest,” says reputation-management guru Helio Fred Garcia, president of Logos Consulting Group. Companies have learned this the hard way before — such as when Starbucks Corp. hatched an ill-advised effort to encourage people to talk about racism with their baristas in 2015 and when PepsiCo. Inc. launched a widely excoriated commercial about social activism featuring Kendall Jenner in 2017. Companies were reminded of that risk again on Saturday after National Football League Commissioner Roger Goodell received fierce backlash for expressing support for the protesters. His statement was viewed as insincere by many after the experience of Colin Kaepernick, a player who has not been signed by a team since 2017 after protesting racism and police brutality.So companies can start by taking a look in the mirror. Facebook Inc., for example, needs to do some hard thinking about its policies after choosing not to flag a Facebook version of a Twitter post by President Donald Trump threatening to shoot looters. That decision has staffers so upset that some staged a virtual walkout Monday. (Chief Executive Officer Mark Zuckerberg acknowledged in a post that his company must do more to “ensure our systems don't amplify bias.”) Companies should be prepared to answer questions — from employees, the news media and other stakeholders — about how they can do more to fight racism and promote diversity.Leaders should also communicate with employees who are on edge, seeking their feedback on how they can better promote diversity, address employee concerns, and fight unconscious bias and other forms of racism. But while every organization should be having these conversations internally, companies should proceed cautiously before publicly wading into the protests.Speaking out publicly comes with two risks. The first is that such efforts will be perceived as self-serving. Many television commercials referencing the coronavirus, for example, have been panned as thinly veiled efforts to use the pandemic to promote consumer spending. The second risk is that commercials or other statements of public support will only remind the public of a company’s record of inaction (the Pepsi commercial) or dubious actions (the NFL). Indeed, a 2016 study by Weber Shandwick and KRC Research found that public activism boosts a company's reputation when it is related in some way to what a company is already doing — but it backfires when it is perceived as discordant with a company's business. If a company has a well-established record of openly fighting racism, speaking out publicly now will be perceived as credible. And if a company — or its employees or stakeholders — has been drawn into the fray, the public will expect it to say something. Garcia notes that companies whose stores have been damaged in the protests will be expected to respond. Macy’s Inc.’s flagship store in New York’s Herald Square was looted Monday night, and the company would be wise to respond compassionately. Designer Marc Jacobs offered a laudable example for other retailers to follow after one of his own stores was damaged:View this post on Instagram A post shared by Marc Jacobs (@themarcjacobs) on May 31, 2020 at 9:38am PDTOf course, many other executives will be tempted to join the bandwagon to express support for fighting systemic racism. But they should start by taking action. Companies including Verizon Communications Inc., Intel Corp., Facebook, Peloton Cycle Inc. and Levi Strauss & Co. have all announced major monetary contributions to organizations that promote social justice. Such donations — along with changes to corporate practices — are the place to start.Once an organization has firmly established a record of supporting racial equality, it can authentically join the public conversation. But without such actions, attempts to generate positive publicity by tying corporations to the cause will be more likely to be perceived as shallow and self-serving, generating backlash that may leave more chief executives wanting to leave the planet.    This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Kara Alaimo is an associate professor of public relations at Hofstra University and author of “Pitch, Tweet, or Engage on the Street: How to Practice Global Public Relations and Strategic Communication.” She previously served in the Obama administration. For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters

    U.S. auto sales in May encourage Detroit plan to rebuild inventories

    Several automakers on Tuesday reported stronger-than-expected May sales in the United States, and the Detroit automakers said they will work through their annual summer shutdowns to rebuild inventories as demand recovers from coronavirus shutdowns. The U.S. auto sector has reopened assembly plants following the shutdown and automakers that reported May sales said they saw signs of recovery in consumer demand. Toyota Motor Corp, said overall U.S. sales fell about 26% in May, but retail demand rebounded to 86% of levels in May 2019, exceeding the company's forecasts.

  • Reuters

    Rental fleet collapse drags down U.S. vehicle sales

    The collapse in demand for new vehicles from U.S. rental car fleets hit automakers hard in May, even as consumer sales were stronger than expected as coronavirus stay-at-home orders began to ease. The collapse of air travel has pushed big car rental companies to cancel orders for new vehicles, punching a hole in sales for nearly a dozen U.S. automakers' including the Big Three in Detroit. Hyundai Motor Co's U.S. sales arm said Tuesday that its sales to fleets, including rental companies, fell by 79% in May, while retail sales grew by 5%.

  • GM, Ford join U.S. companies condemning George Floyd death, racism
    Reuters

    GM, Ford join U.S. companies condemning George Floyd death, racism

    In a letter to employees, GM Chief Executive Officer Mary Barra wrote she was "impatient and disgusted" following the death of Floyd and emphasized the need to "individually and collectively" drive change. The No.1 U.S. automaker shared Barra's letter, sent to its staff on Saturday, with thousands of dealers and suppliers. Barra also said she was commissioning an inclusion advisory board at the company.

  • TheStreet.com

    Ford Shares Gain After Volkswagen Closes $2.6 Billion Investment in Self-Driving Venture Argo AI

    Volkswagen, the world's second-biggest carmaker, has pumped $2.6 billion into Argo AI, a self-driving vehicle company it jointly owns with Ford.

  • Ford Exec Says $2.6B Autonomous Development Deal With Volkswagen Makes Dearborn 'Relevant In Changing World'
    Benzinga

    Ford Exec Says $2.6B Autonomous Development Deal With Volkswagen Makes Dearborn 'Relevant In Changing World'

    Automaker Ford Motor Company (NYSE: F) and European rival Volkswagen have finalized a $2.6-billion joint investment in Argo AI to explore autonomous vehicle technologies in the U.S. and Europe, Ford Autonomous Vehicles CEO John Lawler said in a Medium post on Tuesday.What Happened Ford and Volkswagen announced nearly a year ago a collaboration with Argo AI to "better serve our future customers" while simultaneously improving the two companies' cost and capital efficiencies, Lawler wrote.The partnership with Volkswagen is part of Ford's goal of spending more than $4 billion through 2023 on self-driving technologies. Why It's Important Part of the rationale behind teaming up with Volkswagen is that it makes Argo AI's self-driving software the first of its kind to deploy in the U.S. and Europe, Lawler wrote.Argo AI's platform will have the largest geographic deployment potential, and scale and geographic reach are important factors in developing a top-tier self-driving platform, he said. What's Next Now is the time for Ford to be "thoughtful about the service we are building" so the company will remain "relevant in a changing world," the executive said. Ford wants to continue offering customers "peace of mind knowing they, or their packages, are in a safe and protected environment inside our vehicles."Ford shares were up 0.85% at $5.92 at the time of publication Tuesday. Over-the-counter VW shares were up 1.6% at $16.51. Related Links:Here's How Amazon Could Become A Threat To Tesla, Ford And More With Zoox BuyThe Auto Industry Is Getting Back Online, And That's Good For ElectrificationPhoto courtesy of Ford. See more from Benzinga * BofA Dissects Auto Stocks, Says Q1 Reports Mostly Better Than 'Low Expectations'(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • The Zacks Analyst Blog Highlights: Apple, Verizon Communications, PayPal, BP and General Electric
    Zacks

    The Zacks Analyst Blog Highlights: Apple, Verizon Communications, PayPal, BP and General Electric

    The Zacks Analyst Blog Highlights: Apple, Verizon Communications, PayPal, BP and General Electric

  • The Zacks Analyst Blog Highlights: Exxon Mobil, Verizon Communications, Chevron, Pfizer and 3M Company
    Zacks

    The Zacks Analyst Blog Highlights: Exxon Mobil, Verizon Communications, Chevron, Pfizer and 3M Company

    The Zacks Analyst Blog Highlights: Exxon Mobil, Verizon Communications, Chevron, Pfizer and 3M Company

  • Love Dividends? 2 Stocks You Might Want to Buy
    Motley Fool

    Love Dividends? 2 Stocks You Might Want to Buy

    Exposure to 5G tailwinds and the increasing importance of connectivity could help make these stocks big winners.

  • Economic Data Deluge
    Zacks

    Economic Data Deluge

    Economic Data Deluge

  • 3 Reasons the Growth Story for T-Mobile Stock Could Come to an End
    Motley Fool

    3 Reasons the Growth Story for T-Mobile Stock Could Come to an End

    T-Mobile (NASDAQ: TMUS) has just completed its takeover of Sprint. Between this merger and its massive investment in 5G mobile technology, T-Mobile has become one of only three companies launching a 5G network across the U.S. Long an emerging player in the wireless industry, T-Mobile stock saw massive gains as the telco cut prices and gained market share during the 3G and 4G eras.

  • Thomson Reuters StreetEvents

    Edited Transcript of COST earnings conference call or presentation 28-May-20 9:00pm GMT

    Q3 2020 Costco Wholesale Corp Earnings Call

  • Bloomberg

    Russia’s Yandex Aims to Double Self-Driving Fleet With Hyundai

    (Bloomberg) -- Yandex NV will test a driverless car it developed with Hyundai Motor Co. in Detroit as the Russian technology giant makes plans to approximately double its fleet of self-driving vehicles.Yandex plans to buy 100 of the cars, which are souped-up versions of Hyundai’s Sonata, the company said in a statement on Tuesday. The test-drives, which had been planned around the now-canceled Detroit Auto Show, will commence on public roads in the city once lockdown restrictions are lifted, it said.Yandex and the South Korean company announced their partnership last year, seeking to create both a prototype of a driverless car and an autonomous control system that could be marketed to rival car manufacturers and car-sharing startups. The new, fourth-generation Hyundai model has been tweaked to help the system better detect what’s around the vehicles.The new Sonata has nine sensors, up from six, and has moved the radar system from underneath the bumpers to the roof, improving the system’s ability to distinguish objects around the car. Lidars, laser-based systems for measuring distance from a target, have also been moved to improve visibility. A human driver will be present in the car, but the vehicle should operate autonomously.Yandex operates a taxi service with its autonomous vehicles in the Russian city of Innopolis, though most of its fleet is currently occupied with test runs, which will gradually teach its driving software the skills it needs to react to incidents on the road. The company’s autonomous fleet, which recently exceeded 100 cars, have run 3 million autonomous miles, in cities including Moscow and Tel-Aviv.The road to mass-market robo-taxis has been fraught, with developers burning cash to create cars that can safely operate without a driver and win regulators’ approval. And the Covid-19 pandemic and accompanying lockdowns have hit the industry hard.Read more: The State of the Self-Driving Car Race 2020Competitors including General Motors Co.’s Cruise and Uber Technologies Inc. have cut staff recently, while Ford Motor Co. shifted plans to start self-driving services by a year to 2022. Self-driving trucks startup Starsky Robotics shut down in March with its founder saying that “supervised machine learning doesn’t live up to the hype.”Still, the promise of driverless vehicles and the revolution they could bring to everything from personal transportation to logistics, means the technology is still attracting investors. Amazon.com Inc. is in talks to acquire autonomous vehicle startup Zoox Inc., the Wall Street Journal reported last week. Analysts from Morgan Stanley estimate that Amazon could save $20 billion a year with the technology, which would also allow the e-commerce giant to compete in ride-sharing and food delivery.Read more: Amazon Buying Zoox May Save $20 Billion, Put Tesla on Its HeelsYandex, Russia’s largest internet-search engine and ride-hailing operator, has spent $35 million over the past three years to develop its self-driving cars, using technologies such as machine learning and image recognition from its other businesses.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Volkswagen closes $2.6 billion investment in self-driving startup Argo AI
    Reuters

    Volkswagen closes $2.6 billion investment in self-driving startup Argo AI

    Argo, founded in 2016 by Bryan Salesky and Peter Rander, is now jointly controlled by VW and Ford Motor Co, which made an initial investment in Argo shortly after it was founded. Details of the VW investment, which does not include an agreement to purchase $500 million worth of Argo stock from Ford, was announced last July.

  • Getting people to trust big business will take much more than simply reopening the economy
    MarketWatch

    Getting people to trust big business will take much more than simply reopening the economy

    With concern about the coronavirus pandemic receding for the moment, investors are focused on reopening the global economy. More than half of people worldwide believe that capitalism does more harm than good. In the United States, fewer than one in five have a “very favorable” view of large enterprises, and only one in four say they trust corporate executives.

  • Top Analyst Reports for Apple, Verizon & PayPal
    Zacks

    Top Analyst Reports for Apple, Verizon & PayPal

    Top Analyst Reports for Apple, Verizon & PayPal

  • Why KB Home (KBH) Could Beat Earnings Estimates Again
    Zacks

    Why KB Home (KBH) Could Beat Earnings Estimates Again

    KB Home (KBH) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

  • Why General Mills (GIS) Could Beat Earnings Estimates Again
    Zacks

    Why General Mills (GIS) Could Beat Earnings Estimates Again

    General Mills (GIS) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

  • GM should emerge from pandemic with permanently lower costs, says CEO
    Reuters

    GM should emerge from pandemic with permanently lower costs, says CEO

    General Motors Co <GM.N> should emerge from the coronavirus pandemic with a permanently reduced cost base after it scrambled to reduce its cash burn to withstand a two-month shutdown in North American production as part of efforts to halt the spread of COVID-19, its top executive said on Tuesday. "We were quickly able to take out significant costs and we are being very conservative about what costs we turn back on," Chief Executive Officer Mary Barra said during an investor event with Credit Suisse. "I believe we will come out of this with a lower cost structure that is permanent."

  • ACCESSWIRE

    CLASS ACTION UPDATE for LBRT, BBBY and LOPE: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

    NEW YORK, NY / ACCESSWIRE / June 2, 2020 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested ...