Employee rights
Employee rights BY THE NUMBERS
After a better-than-expected ADP private-sector jobs gain for February and before Friday’s monthly government employment report, figures on weekly initial jobless claims are out Thursday before the stock market opens. (CNBC)
Employee rights IN THE NEWS TODAY
The bill to provide $8.3 billion in emergency coronavirus funds that passed the Democratic-controlled House nearly unanimously goes to the GOP-led Senate. Leaders in the Senate hope they can bring the measure quickly to a vote and send it to President Donald Trump, who is expected to sign it. (CNBC)
* Trade group: Airlines could lose up to $113 billion in passenger revenue (Reuters)
The U.S. reports at least 138 cases and 11 deaths from the coronavirus. California, which reported its first coronavirus death, declared a state of emergency. California and Washington state have the highest concentrations of cases in America. (CNBC)
* New York Gov. Cuomo confirms 5 new cases of coronavirus (CNBC)
* New Jersey health officials report first positive coronavirus test (AP)
Global coronavirus cases surged to over 95,000 and 3,270 deaths. Much of the infections are still in China, which has allocated $16 billion for virus prevention. The outbreak originated in China in December and has since spread to at least 75 countries. (CNBC)
* Apple, Microsoft, Google look to move production away from China (CNBC)
* Tesla customers in China irate over cars delivered with older hardware (CNBC)
Shares of Zoom Video Communications (ZOOM), up over 200% since last year’s IPO, were lower in the premarket. The company reported earnings, revenue and forward guidance that exceeded estimates. The company saw record usage due to more people working from home as a result of the coronavirus. (CNBC)
* Microsoft tells Bay Area and Puget Sound employees to work from home if possible (CNBC)
Sen. Bernie Sanders campaigns in Phoenix today. The self-described democratic socialist looks to recapture the momentum that powered his strong finishes in early states before he met a surging Biden in South Carolina and this week’s Super Tuesday Democratic presidential nomination contests. (AP)
Chief Justice John Roberts issued a defense of Justices Neil Gorsuch and Brett Kavanaugh after Senate Minority Leader Chuck Schumer warned at a rally that the two President Donald Trump appointees would “pay the price” if they voted against reproductive rights activists. (CNBC)
Friends, family and business leaders are gathering at St. Patrick’s Cathedral in New York City this morning to pay their respects to Jack Welch, a railroad conductor’s son who led General Electric (GE) to two decades of incredible growth. The 84-year-old died Sunday. (CNBC)
Employee rights STOCKS TO WATCH
American Eagle Outfitters (AEO) was up in premarket trade after the clothing retailer posted fourth-quarter earnings and revenue that beat estimates. American Eagle expects Q1 earnings of 20 to 22 cents per share, basically matching expectations.
Splunk (SPLK) shares were under pressure in premarket trading after the software developer reported weak guidance on revenue for the first quarter and full fiscal year of 2021. Splunk also missed estimates on Q4 earnings. It beat on revenue.
Marvell Technology shares were higher in the premarket after the semiconductor company posted better-than-expected fourth-quarter earnings and revenue. Marvell warned on Q1 revenue due to the impact of the coronavirus.
Employee rights WATERCOOLER
Prince Harry and Duchess Meghan of Sussex’s farewell tour as royals of the United Kingdom gets underway tonight in London, where the soon-to-be departing couple will appear at the annual Endeavour Fund Awards. (USA Today)