AFN News 14

AFN NEWS

Thursday, May 14, 2020　

1) From ABC News, I’m Chuck Sivertsen. States are moving ahead with varying degrees of reopening. COVID-19 hospitalizations are declining in Louisiana. Governor John Bel Edwards says Phase One of reopening gets underway Friday. Bars conserve customers if they have a permit from the Health Department but they won’t be functioning as bars. “There are just some settings that are inherently more risky than others about transmission of the bars. Again bars are one of those and I get it unfortunate.” Also taking the next steps, it’s been almost two months that New Jersey has been effectively locked down. Now Governor Phil Murphy is ready to allow construction and reopen retail. “We can get small businesses back up and running in a manner that continues to protect both workers and shoppers.” That means curbside pickup only. “To be clear, no customers will be allowed back into nonessential retail stores at this time.” The change takes effect Monday morning. Aaron Katersky, ABC News, New York.

2) In hard-hit Massachusetts, next Monday is the expiration day for Governor Charlie Baker’s stay-at-home orders, no words of extension. “This isn’t gonna be a situation or a circumstance where on May 18 every business in Massachusetts that is currently closed is gonna be permitted to open. It’s not gonna work like that and it shouldn’t work like that.”

3) Working on a new stimulus bill totaling $2 trillion including direct payments to states and local governments, House Speaker Nancy Pelosi. Reaction to that from Senator Kevin Cramer, North Dakota, Republican. “The trillion dollars that the Speaker is presenting, uh, it’s unserious in my view because it represents basically how much all of the states collectively collect in the revenue year.”

4) A closely watched Southern California congressional race appears to be over. Democrat Christy Smith conceding to the 25th District contest to Trump-backed Republican Mike Garcia. Democrat Katie Hill resigned from the seat after admitting to an affair. You’re listening to ABC News.

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I’m Liz Claman and this is the Fox Business Report.

Stocks tumbling and closing in the red after Fed Chair Jerome Powell warns of a prolonged recession from the coronavirus pandemic. The Dow falling 517 points, the NASDAQ down 139 and its now in negative territory for the year, S&P 500 down 50. // And after the closing bell, Cisco Systems shares rising after the maker of network services, video conferencing tools and security software, reported better-than-expected earnings although revenue dropped 8% from last year’s quarter. // And GE certainly not bringing good things to life on Wall Street. Shares of the industrial conglomerate tumbling over 3.5% amid growing concerns over the troubled aerospace industry. GE started kicking the lowest level in more than 11 years in today trading. // And Rite Aid announcing a new partnership with Instacart which will allow customers to order and receive essential healthcare and grocery items delivered directly to their homes. That’s your Fox Business Report. I’m Hilarie Barsky, invested in you.

AFN News May 7

AFN NEWS

Thursday, May 7, 2020　

1) From ABC News, I’m Daria Albinger. Governors have been telling President Trump they need the federal government to help more with testing for COVID-19, especially if states begin to lift restrictions. White House Press Secretary Kayleigh McEnany says more isn’t necessary, better when it comes to testing. She says it must be strategic. “If we tested every single American in this country at this moment, we have to retest them an hour later and then an hour later after that, because at any moment you could theoretically contract this virus, so the notion is that everyone needs to be tested is just simply nonsensical. The people who need to be tested are vulnerable population.”

2) And the White House coronavirus taskforce won’t be phased down at the end of the month after all. President Trump says the group’s focus will shift to rebooting the economy and developing a vaccine. “I know we could wind it down sooner, but I had no idea how popular the taskforce is.” He says members will change as the crisis evolves.

3) Pharmaceutical giants are working to get potentially lifesaving COVID-19 treatments to the nation’s hardest-hit areas like Maryland. “Gilead has donated 1,600 doses of Remdesivir to the state of Maryland. This is the only drug proven in a clinical study to help with COVID-19.” Governor Larry Hogan also allowing elective medical procedures to resume tomorrow. Officials in Virginia are monitoring COVID-19 outbreaks in two poultry plants. “The National Guard regularly provides assistance in emergencies and this is the greatest emergency that we have seen in many years.” Governor Ralph Northam says the guard helping with testing in the plants in the surrounding community.

4) Uber is slamming the breaks on 3700 full-time jobs with fewer of us getting at needing rides. That’s about 14% of its workforce. Rival Lyft announced that it’s laying off a lot of workers, too.

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I’m Liz Claman and this is the Fox Business Report.

Stocks ending mixed as investors wait plants for the reopening of the economy against the latest batch of earnings reports, with the Dow falling 218 points, the NASDAQ up 45, S&P 500 down 20. // General Motors outlining plans for May 18th restart most of its North American plants shut down by the coronavirus pandemic. This has reported the stronger-than-expected quarterly profit with sales of its full-size pickups rising about 27% year over year. Shares of GM closing up 3%. // And after the closing bell, speaker maker Sonos reporting earnings with its losses more than doubling in the March quarter as the coronavirus outbreak forced the closure of its retail stores muting sales of its speakers. // And ride-sharing company Lyft bringing nearly $1 billion sales in mid pandemic, although the company posted $400 million loss for the first quarter but it’s actually an improvement from last year. That’s your Fox Business Report. I’m Hilarie Barsky, invested in you.

AFN News April 30

AFN NEWS

Thursday, April 30, 2020　

1) From ABC News, I’m Daria Albinger. The U.S. death toll from COVID-19 has now passed 60,000. That’s according to the ongoing tally by Johns Hopkins University. During the White House roundtable today with industry executives, President Trump was asked how long it might be until vaccine is readily available. “A lot of progress is being made on the vaccine, but you never know, right? You never know. You know with SARS they did not come up with a vaccine, and sometimes they don’t, and sometimes they do. I will say this. I don’t think there was the same effort.” Mr. Trump says the federal government will not extend its social distancing guidelines once they expire tomorrow.  

2) While the world waits for a vaccine, medical experts say a drug shows promise in treating COVID-19. Dr. Anthony Fauci on Wednesday touted the result of the trial, examining an experimental drug treatment for the coronavirus. A randomized, international trial of the drug Remdesivir has resulted in what Fauci called “quite good news,” shortening the period patients experienced symptoms, and potentially slightly reducing the mortality rate. “What it has proven is that a drug can block this virus.” Karen Travers, ABC News, Washington.

3) The news sent stock soaring, the Dow closing up more than 500 points. The Fed is holding on interest rates for now. “Federal Reserve’s response is guided by our mandate to promote maximum employment and stable prices for the American people, along with our responsibilities to promote the stability of the financial system. We’re also committed to using our full range of tools to support the economy in this challenging time.” Chair Jerome Powell.

4) It’s been sad that you can’t make everyone happy all of the time, and that is __ New York Governor Andrew Cuomo. “We have people last week protesting ‘cause they want to go back to work. This week we have people protesting ‘cause they don’t wanna go back to work. Yeah, welcome to America.” Cuomo says his sole focus is on continuing to flatten the curve.

5) Major League baseball is cancelling this July Hall of Fame induction. This year’s class will be inducted next year. You’re listening to ABC News.

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I’m Liz Claman and this is the Fox Business Report.

Stocks finishing higher following an encouraging report on a possible treatment for COVID-19 from Gilead Sciences, with the Dow rising 532 points, the NASDAQ up 307, S&P 500 up 76. The Federal Reserve announcing it’ll be holding interest rates unchanged in the range of nearly zero to a quarter of a percent and said that U.S. economy has worsened due to the pandemic and vowed to take aggressive action to support an eventual recovery. After the closing bell, Microsoft delivering earnings and revenue beating Wall Street expectations with the shares spiking in after-hours trading. The company reporting its third-quarter fiscal earnings said the coronavirus had minimal net impact on Microsoft revenue which reached around $35 billion. However, some of Microsoft core offerings including Azure cloud-computing business and Teams collaboration software are expected to fare well as Americans are working from home and their companies need computing power to support them. That’s your Fox Business Report. I’m Hilarie Barsky, invested in you.

AFN News April 23

AFN NEWS

Thursday, April 23, 2020　

1) From ABC News, I’m Daria Albinger. It is not cheap to fight a novel virus. Congress is learning that firsthand as the House prepared to vote on the latest batch of funding to help those impacted by COVID-19. “When President Trump signs this latest plan of government funding $484 billion for small businesses and hospitals, it will bring the total price tag to fight coronavirus to roughly $2.7 trillion. Lawmakers are already talking about next round, and states are asking Congress for hundreds of billions of dollars to put that 2.7 trillion into context. The U.S. has now put as much money to fight coronavirus in less than two months as the central government planned to spend in total over two years on all government programs and it’s more than half of all the money spent fighting World War II over four years.” Karen Travers, ABC News, Washington.”

2) With some states taking steps to reopen their economies, the governor of the nation’s most populist one said his decision will be driven only by data. “Governor Gavin Newsom says with the number of dead climbing here in California, he cannot yet give a date for lifting stay-at-home order. ‘There is no light switch, and there is no date.’ But he is modifying one aspect of his stay-at-home order allowing needed scheduled surgeries to go forward like heart valve replacements and removing tumors. Alex Stone, ABC News, Los Angeles.”  

3) Two California residents who died in February were confirmed to be the earliest known deaths from the outbreak and weeks before the CDC reported the first death in Washington State. Now Newsom is directing officials to look at deaths, stating as far back as December.

4) New York Governor Andrew Cuomo says the state needs a tracing army to effectively track who’s been in close contact with people who’ve tested positive. “Mayor Michael Bloomberg has volunteered to help us develop and implement the tracing program.” That program is going to be done in partnership with Johns Hopkins.

5) Stocks closed higher today. You’re listening to ABC News.

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I’m Liz Claman and this is the Fox Business Report.

Stocks finishing higher as oil markets stabilized and investors eyed another stimulus package from Congress. The Dow rising $457 points, the NASDAQ up 232, S&P 500 up 63. // And auto sales beginning to recover after a massive slump in March due to the coronavirus pandemic, according to research firm J.D. Power. Retail sales stabilizing during the first couple of weeks of April. During March sales in some areas with high infection rates declined by as much as 80%. Throughout the crisis, light-duty pickup trucks proved to be the most resilient with sales down only 16%. // And Kimberly-Clark says sales of its tissue and toilet paper products like Kleenex and Cottonelle rose 13% in the first quarter. Consumers stocking up on its brands during the coronavirus pandemic, which helped the company beat Wall Street estimates for profit and sales. That’s your Fox Business Report. I’m Hilarie Barsky invested in you.

AFN News April 2

ABC NEWS  APRIL 2, 2020

                          

1)           From ABC News, I am Daria Albinger.  Health experts have been saying that the coronavirus pandemic will get worse over the next few weeks.  Today we are learning that the US death toll’s more than quadrupled over the week up by nearly a thousand in just 24 hours.  One of the latest victims, a six-week-old in Connecticut, not far from what’s been called the epicenter of the US epicenter of the virus. 

2)           “Nearly 400 people have died of COVID-19 in New York since Tuesday, and Governor Andrew Cuomo said the latest models now showing apex here at the end of April; “We’re still on the way up to the mountain.”  At the top of the curve, if people comply with social distancing, Cuomo said the state would still need 75,000 hospital beds and 25,000 ventilators to help with the compliant.  Cuomo ordered playgrounds here in New York City to close, but parks remain open as long as there’s distancing.  Aeron Kateresky, ABC News, New York.”

3)                 California is saying a jump in demand for ICU patients.  Governor Gavin Newsom says it’s up 16% a day to 774; “Many of you may think that’s sounds relatively modest to what’s happening in other parts of this country, and that may be true, but it’s incredibly important to impress upon you that that number represents roughly quadrupling compared to where we were just six days ago.”  Newsom also closing schools in the state for the rest of the academic year.

4)                   Louisiana reporting its largest increase in deaths in the last 24 hours.  Governor John Bel Edwards said current projections show people are going to come to hospitals, need ventilators, be unable to get them and die; “There is no reason to think that Louisiana won’t look like Italy.”

   Forty-five states now have stay-at-home-orders.  The latest issued them, Florida, Georgia and Mississippi all taking effect on Friday. 

5)                   The Navy now says 93 crew members on the USS Theodore Roosevelt have tested positive for COVID-19.  A thousand sailors have been taken off the ship and more are expected to follow.  You’re listening to ABC News.

6-1)    I’m Connell McShane.  This is the Fox Business report. 

      “Stocks kicking off the month in quarter sharply lower.  Investors are increasingly concerned that the coronavirus will keep the economy shutdown longer than expected, with the Dow falling 974 points, Nasdaq down 340, S&P 500 down 114. 

6-2)    And airlines falling today after showing a passenger traffic was down 86% in 2 weeks, and cruise operators also sliding amid renewed fears over the health of the industry.

6-3)   And Home Depot is taking further measures to help stand the spread of the coronavirus, and is limiting the number of customers allowed into its stores and eliminating major spring promotions to avoid driving high levels of traffic to its locations.  The company is also expanding benefits for its employees including weekly bonuses for fulltime, hourly and part-time staffers at its stores and distribution centers.

     That’s your Fox Business report.  I’m Hilarie Barsky, invested in you.”