Dow Jones jumps
The Dow Jones Industrial Average rose more than 500 points Thursday midday after the Federal Reserve unveiled plans for $2.3 trillion in coronavirus lending programs. Dow Jones stock leaders Apple and Microsoft turned mixed, as the new stock market rally continues.
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Disney Parks plans to reopen with safety measures
Dr. Pam Hymel, the chief medical officer for Disney Parks, has outlined several “enhanced safety measures” its U.S. resorts are considering as the company outlines reopening plans, including plans for “phased reopening” and new physical-distancing guidelines. “After so much time at home, I know many of you are eager to enjoy the magic of a Disney parks visit, and we can’t wait to welcome you back,” Hymel wrote
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Bill Ackman made a $2.6 billion profit on a single trade during coronavirus pandemic
CEO of Pershing Square Capital Management, Bill Ackman completed his ‘single best trade of all-time’ that turned his $27 million modest bearish bet into a $2.6 billion winner. He predicted a severe impact of coronavirus on financial markets in February and decided to put a $27 million bearish bet back then. Ackman closed his position right at the bottom of the stock market with a whopping $2.6 billion in profit
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Cryptoglobe
Warren Buffett's Berkshire Hathaway sold more than $6 billion in stock in April
The billionaire investor's company was widely expected to deploy a chunk of its $128 billion cash pile last quarter, but instead its reserves grew to $137 billion by the end of March. "The amount of investment gains/losses in any given quarter is usually meaningless and delivers figures for net earnings per share that can be extremely misleading to investors who have little or no knowledge of accounting rules,"
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Businessinsider
Tesla Cuts Salaries, Furloughs Workers Amid Pandemic Wind-Down
Tesla will cut salaries by as much as 30% and furlough workers in the wake of the electric carmaker’s forced production wind-down due to the coronavirus pandemic. Starting next Monday, U.S. employees at the electric car and solar battery system maker who hold director and vice president-level roles and above will see pay reductions of 20% to 30%, and "everyone else" will receive a pay cut of 10%
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