(Bloomberg Opinion) -- With first-quarter earnings mostly in the books, investors have now gotten their first detailed glimpse of how the coronavirus pandemic has affected profits in corporate America. To no one’s surprise, the results as a whole weren’t good: Earnings fell about 14% from a year earlier for members of the S&P 500 Index, according to DataTrek Research. Wall Street analysts expect things to get worse before they get better, with earnings forecast to plunge about 41% in the second quarter, decline 24% in the third quarter and drop 11% in the final three months of the year. Add them up and Wall Street forecasts a 20% tumble for the year to $127 a share. Coming into 2020, the consensus was that members of the S&P 500 would produce earnings of about $175 a share. But that’s the mile-high view. For a real sense of the challenges facing the economy, it helps to get as granular as possible. To that end, we’ve asked those Bloomberg Opinion columnists that focus on business and finance to provide their thoughts on the quarter  that snapped the longest U.S. economic expansion in history, revealing the winners and losers, highlighting interesting tidbits and musing about what may lie ahead.Bankers are the good guys? The message from the largest U.S. banks as they released their earnings in mid-April, just as the pandemic was escalating across America? We are well-capitalized, made a lot of money from trading in extremely volatile markets, and have the capacity to help our clients get through the crisis. Unlike the financial crisis just over  a decade ago, big banks have a chance to be the good guys now, processing U.S. Small Business Administration loans and allowing individuals and families to delay payments on credit cards, auto loans and mortgages in certain cases. Yet banks have been among the biggest laggards across U.S. stock markets. The KBW Bank Index has fallen about 42% this year, compared with just 12% for the S&P 500, suggesting the economic recovery might be slower and more punishing than the broader markets for equities may be signaling. —Brian ChappattaCable conundrums, streaming dreams. The absence of lucrative sports programming and muted advertiser demand has forced traditional cable-network operators to make an even bigger push into the rocky terrain of streaming, where revenue is entirely dependent on must-see content continuously propelling subscriptions. AT&T Inc. said total ad sales fell 13%, while Walt Disney Co. said ESPN alone suffered an 8% drop. Meanwhile, almost 16 million people signed up for Netflix and about 2 million canceled cable TV. —Tara LachapelleGorging on comfort food. As panic-ridden consumers stock up on essentials, Big Food brands of yesteryear, from Kellogg’s Frosted Flakes to Kraft macaroni and cheese, that had been struggling to find their place in a new health-conscious society suddenly had a moment. This explains the resurgence of companies such as General Mills Inc., whose brands include Betty Crocker, Pillsbury and Totino’s pizza rolls. Its U.S. retail sales surged 45% in March and 32% in April. The question: Is this only a moment? We’re also noticing some quirky consumer habits. Unilever NV said we are using less deodorant, skin care and shampoo, as much of this use is associated with work and socializing. Henkel AG enjoyed strong demand for home hair coloring. If the recession is a long one, expect these habits to continue. —Tara Lachapelle and Andrea FelstedAmazon isn’t alone. E-commerce giant Amazon.com Inc.’s sales increased 26% in the quarter, and the company forecast up to 28% growth for its April-through-June quarter as nationwide lockdowns sparked a surge in online shopping. But overwhelming demand and shortages are giving its rivals opportunities as consumers increasingly shop elsewhere. It's showing up in the latest metrics from Shopify Inc.'s merchants, as well as Wayfair Inc., Best Buy Co., Target Corp. and Costco Wholesale Corp. — all pointing to much faster online sales growth rates than the tech giant. —Tae KimBig Tech divergence. Shares of Facebook Inc. and Google parent Alphabet Inc. rose post-earnings following better-than-feared commentary on April digital ad market trends. Even so, Facebook cautioned the future economic recovery may be worse than expected. And Google said not to extrapolate the stabilization that seemed to occur in April. Both internet ad giants may face business pressures going forward if companies cut their marketing budgets in coming quarters. In contrast, Amazon and Netflix are thriving as consumers increasingly shift spending to e-commerce and watch more streaming video content. Finally, Apple Inc. uncharacteristically failed to give sales guidance for its current quarter for the first time since 2003, signaling the lack of visibility it has for iPhone demand. —Tae KimCovid-time tech winners. Best-of-breed cloud software makers are surging as companies accelerate the spending shift away from traditional on-premise equipment to the cloud's more scalable and cost-efficient offerings. Some of the biggest earnings winners included Datadog Inc., Okta Inc. and Twilio Inc. Video-game stocks are one of the hottest-performing subsectors this year as it has become a key in-home entertainment choice under shelter-in-place orders. Both Activision Blizzard Inc. and Electronic Arts Inc. posted strong results and confirmed accelerating sales for its offerings in April. Investors also bid up Zoom Video Communications and Slack shares as the two companies benefited from the workforce-collaboration software trend and revealed strong accelerating business metrics. —Tae KimPharma unfazed, for now. As a wide variety of industries panicked and cut profit targets, large drugmakers broadly reaffirmed guidance in the first quarter. Merck & Co., which makes many hospital- and physician-administered treatments, was the only big firm to slash its drug sales forecast seriously. Making medicine is a durable business, even in a pandemic. However, if a strong second-half economic recovery doesn't materialize, more companies may follow Merck as patients make the tough decision to stay home instead of venturing out and seeking treatments. —Max NisenCover me. Large health insurers were also relatively sanguine, despite a pandemic that would seemingly spark increased claims. They believe that the dive in expensive elective surgeries will balance out adverse effects. That doesn't mean there won't be change. UnitedHealth Group Inc. announced this month that it plans to re-enter Obamacare's insurance markets after mostly exiting four years ago. A 14% unemployment rate will do that. Watch for imitators. —Max NisenCashing in on Covid cures? During Gilead Sciences Inc.’s first-quarter earnings call, an analyst asked CEO Daniel O'Day if investors should expect the sort of attractive returns from newly confirmed Covid treatment remdesivir that the company produces for other drugs. O'Day responded that "there's been no other time like this in the history of the planet" and that "we understand our responsibility." In other words, probably not. Gilead announced on Tuesday a temporary royalty-free license that will allow five generic drugmakers to make a presumably cheaper version for more than 100 low-income nations. Other companies will face pressure to follow its example and price moderately in developed countries, which calls into question the soaring valuations for pandemic-focused drugmakers. —Max NisenGoing local. Still spending. Coronavirus shutdowns have snarled industrial-supply chains already facing strain from the U.S.-China trade war. While no one envisions an abandonment of China as a manufacturing hub, there are early signs of work being brought back to the U.S. Unfortunately, this is unlikely to mean much in terms of jobs, at least not for humans. Rockwell Automation Inc. said it's seen an uptick in interest from companies that might have previously manufactured products out of Asia to take advantage of low wages but are now rethinking that economic calculus. When it comes to investment, discretionary spending on things like travel has been cut across the board at many manufacturers. Most CEOs and top executives have taken pay cuts. Buybacks are off the table but for a few brave souls, including Eaton Corp. But many manufacturers are continuing to fund projects they view as essential to their future growth. For United Parcel Service Inc., that means investments in automation that can help make e-commerce deliveries more profitable. For Caterpillar Inc., that's services work and expanding its product lineup. "I'm not planning on sacrificing the future just to cut back on capex," Honeywell International Inc. CEO Darius Adamczyk said on a recent earnings call. —Brooke SutherlandPink slips or paychecks? While aerospace manufacturers such as Boeing Co. and General Electric Co. have moved swiftly to announce large layoffs amid a collapse in the industry, other industrial companies have been more surgical, at least for now. Caterpillar CEO Jim Umpleby has said his company's efforts to hold headcount relatively flat even as revenue climbed the past few years means there's less slack in the system and the company doesn't have to be as ruthless on job cuts during the pandemic. Others, such as railroad Union Pacific Corp., are worried about having enough labor at the ready whenever a recovery does occur so prefer furloughs when possible. "We don't want to cut the talent so deep that when the recovery happens, we don't have the right people," said Greg Hayes, CEO of Raytheon Technologies Corp., whose robust balance sheet and defense business give it more flexibility to weather the commercial aerospace downturn. Companies can still save costs without cutting employees: Trash-hauler Waste Management Inc. is guaranteeing 40 hours a week of pay for full-time employees through the pandemic, but the redistribution of its workers has helped it reduce more costly overtime hours by half. —Brooke SutherlandStaying safe. Most manufacturers have kept their doors open through the pandemic because their work is considered essential. That has come at a cost: Trash-hauler Republic Services Inc. spent $3 million in the first quarter on actions to keep its employees safe, including providing them with protective gear and doing enhanced cleaning. To keep Emerson Electric Co.'s factories humming, Chief Operating Officer Steve Pelch had to rent aircraft to bring in crucial supplies and double the number of buses used to transport workers in Mexico so they can safely spread out, according to an interview with Bloomberg News's Thomas Black. Automated doors have been installed, as have hand-washing stations. Plexiglass partitions separate workers on the factory floor. Siemens AG digitally redesigned an Airbus SE factory that's been repurposed for ventilator manufacturing to ensure social distancing, and workers must pass through a sanitization tent to gain access. In what could be a key test for the reopening of other parts of the economy, automakers with large union workforces including General Motors Co. and Ford Motors Co. are bringing their factories back to life this week in preparation for a May 18 official restart. Ford said it will require face masks for anyone entering its facilities, as well as safety glasses with side or face shields for those employees whose jobs don't allow for social distancing. It's spacing out production shifts to allow more time for cleaning and requiring employees to complete daily health and temperature checks. —Brooke SutherlandOil, oil everywhere. At a primeval level, the oil business is all about sinking money into the ground. When the barrel gods are smiling, even more money comes back up. In 2020, it feels like the gods aren’t happy. Hence, earnings season for oil companies was odd. While exploration and production companies are always careful to talk up efficiency, what really gets the juices flowing are spending plans for new wells. Not this time. Parsley Energy Inc., which fracks in America’s oil heartland, the Permian basin, suspended drilling, declaring bluntly (and correctly) that right now, “the world does not need more of our product.” At the other end of the scale, Exxon Mobil Corp. also slashed spending this year to as little as — get ready for it — $23 billion! While Exxon recognizes the immediate impact of Covid-19, it doesn’t think “events like this change basic human nature or people's wants and desires.” The jury remains out on that notion. And in any case, the switch from budget boasting to public prudence offers a glimpse of what peak oil could mean for what’s ahead. Expect dissonance. —Liam DenningThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Beth Williams is a managing editor with Bloomberg Opinion. She has also worked at Bloomberg News as an editor and reporter covering M&A, markets, companies, finance and government.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.

HBO Max officially launches this week, and come June the streaming service will be loaded with fresh content.Read more...

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British stocks nudged higher on Thursday, with data both from the U.K. and abroad showing the deterioration of the global economy due to the coronavirus shutdowns.

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Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]

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So far, my son’s summer camp for June has been canceled, and I expect July and August to follow suit eventually. We’ve canceled two long weekend trips. The public pools are closed for the summer, and our backyard is too small and too sloped for anything resem…

Google is teaming up with the third-party tech repairs company uBreakiFix to offer free, Google-approved Pixel repairs to all first responders and healthcare professional. This includes all:Read more...

After last week’s influx of new content, this week is a light one when it comes to new Netflix content. That said, you will have a few new options this week.Read more...

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The international exposure of Unilever may be tempting for investors, but P&G; is better equipped to withstand today's coronavirus-related headwinds.

(Bloomberg Opinion) -- In a locked down world, cat food is in, but deodorant is out. How consumers adapt to pandemic life is playing out in the contrasting performances of two big consumer goods companies: Nestle SA and Unilever.Nestle, which has been fine-tuning its focus on food, on Friday posted its highest rate of growth for almost five years, with a 4.3% increase in first-quarter sales excluding currency movements, acquisitions and disposals. That far outstripped the showing at Unilever, which didn’t manage any sales expansion in the first quarter despite demand for disinfectant soaring.Food is usually the sleepy cousin of faster-growing personal-care products, such as skin creams and shampoo. However, the Covid-19 crisis has turned this on its head.Nestle, which generated about 15% of its sales from pet care in 2019, has doubly benefited from an embrace of our furry friends in this unsettling time. Not only did people panic buy for their cats and dogs, but they’re pampering them more now that they’re spending more time with them. Pet food sales helped Nestle’s overall organic sales growth increase by more than 7% in both the Americas and Europe.By contrast, Americans and Europeans are spending less time worrying about their own appearance, be it tinkering with their hair, shaving or applying makeup and moisturizer. With nowhere to go, the change in behavior is so radical that, according to Unilever, a typical day stuck at home entails on average 11 fewer “personal care moments.”That’s a big problem for Unilever. The company generates 42% of sales from its beauty and personal-care brands, such as Dove moisturizers and Timotei shampoo. And it’s absent from some categories that have been performing well, such as hair dye for use at home.But this isn’t just the corporate equivalent of being in the right place at the right time.Nestle’s chief executive officer, Mark Schneider, has made some canny changes to the Swiss firm’s portfolio, which includes coffee, bottled water and frozen food. Of course, no one had a crystal ball, but those decisions now look prescient. The company sold a skin-health business that makes Botox, which looks very wise now that nobody can get to the beauty salon. It completed the sale of its U.S. ice cream business at the end of January, so it didn’t suffer as much Unilever from the decline in demand in this category. Nestle has really scored from its $7 billion deal two years ago for the right to sell Starbucks products outside of cafes. The pandemic has turned people into their own baristas forcing them to stock up on coffee at the supermarket. Schneider is continuing to reshape Nestle, with a strategic review of the Yinlu business that makes traditional Chinese porridge and peanut milk.Change at Unilever hasn’t been as dramatic. The Anglo-Dutch company has made small bolt-on acquisitions in what have been fast-growing categories such as plant-based meat and premium beauty products like Hourglass cosmetics. This is sensible given long-term trends, but these products are facing headwinds right now. For example, a large proportion of the company’s beauty offerings are sold through North American retailers such as Ulta Beauty Inc., which are currently closed.Now led by company veteran Alan Jope, Unilever has also been more reticent about big disposals. It sold its spreads business in 2017, and is reviewing its tea division, which includes brands such as PG Tips and Lipton.Investors certainly seem to be backing Schneider’s approach over that of Jope. On a price-to-earnings basis, Unilever is at its biggest discount to Nestle for more than a decade.How Unilever performs during the crisis should spur a rethink of the portfolio. The company is well placed in one sense with many of its brands in the mass-market segment. In the downturn that will inevitably follow the pandemic consumers will trade down. But some brands also look tired. Will a large number of people really turn to Brut aftershave and V05 shampoo or Toni&Guy when supermarkets and discount retailers do a good job in cheaper alternatives?Home workers using less deodorant isn’t just an issue for those sharing a lockdown space.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.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.

"Things will get more difficult before they get better," Chief Executive Alan Jope said on a call, pointing specifically to the impact on ice cream sales and a food solutions business that caters to canteens, restaurants and cafes. Unilever, however, said it was positive that people would focus more on personal hygiene, driving sales of laundry detergents, hand sanitizers and soap-based products even after the pandemic subsides. Unilever also said it would prioritize development of less expensive value for money products as it expects economies across the world to enter into a period of slow growth.

(Bloomberg) -- Uber Technologies Inc. outlined new safety procedures at a virtual event on Wednesday, a move aimed to inspire more drivers and riders to feel comfortable getting in a shared car again.The rules will require drivers, passengers and food delivery couriers to wear face masks as cities begin to reopen across the U.S. After the Covid-19 pandemic began spreading rapidly more than two months ago in the U.S., Uber urged riders to stay home and shuttered its carpool service completely. Drivers were often conflicted about continuing to pick up the few remaining passengers or putting their health at risk.The Centers for Disease Control and Prevention has recommended wearing face coverings in public since April 3 to prevent the spread of the virus. But masks have become a polarizing sign. Some people believe they aren’t necessary and that the economic effects of the lockdowns outweigh the health risks. President Donald Trump has long defended his decision to not wear a mask, helping to fuel an anti-mask movement across the U.S. that has spurred protests, fights and at least one fatal shooting.Uber will also ask drivers to submit a selfie showing them wearing a mask. Drivers who refuse the verification in the U.S., Canada, India and most of Europe and Latin America will not be able to go online beginning May 18.“We’ve designed this feature to adapt to changing public health guidance and regulations as the pandemic evolves,” Uber Chief Executive Officer Dara Khosrowshahi said in a blog post. The mask policy will remain in effect through June and be reassessed based on local public health needs. The global pandemic has been taken a toll on Uber’s ride-hailing business, with rides down about 80% globally in April. As a result, Uber announced cost-cutting measures last week, including ending food delivery operations in seven countries and trimming 14% of its workforce. But Uber’s food delivery service, Uber Eats, has fared better as homebound people order more takeout. Uber has approached Grubhub Inc. about a takeover, according to people familiar with the situation, a move that could combine two of the largest food-delivery services in the U.S. The proposed deal is already facing resistance from officials, who said Uber has failed to set up adequate safety measures to mitigate the risk of infection for drivers.Under the new rules, riders will also need to confirm they’ve taken precautions, including wearing a mask and washing their hands, and must agree to sit in the back seat and open windows for ventilation. Uber is also reducing the maximum suggested number of passengers for an UberX ride to 3 from 4. Drivers will be able to cancel a trip without penalty if they don’t feel safe, including if the rider isn't wearing a face mask.Other efforts Uber is making to keep drivers and passengers safe include allocating $50 million to purchase supplies like masks, disinfectant sprays and wipes, hand sanitizer, and gloves. As of this week, Uber has obtained more than 23million masks for drivers and delivery people around the world, the company said. Uber also announced two new partnerships, with Clorox Co. and Unilever Plc, to provide disinfecting tips and hygiene kits for drivers and delivery people in some markets.  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.

June is almost upon us. To help everyone prepare, Netflix just released the list of what’s coming and going from the platform next month.Read more...

As part of its United for America initiative, Unilever is hosting its first annual Day of Service on May 21. The company will donate the equivalent of one day’s worth of the products manufactured at its U.S. factories to Feeding America and Direct Relief, employees will spend time virtually volunteering, and a network of 70 partners will join in relief efforts to support their communities.

It looks like June is going to be pretty light month in terms of new Disney+ content. The streaming service has released its list of upcoming programming for the month and it’s pretty short, but there are still a few things worth getting excited about.Read mo…

In partnership with Unilever’s United for America initiative, The North Texas Food Bank (NTFB), will be distributing kitted food boxes through a low-touch distribution model on May 21, 2020. Distribution will be on a first-come, first-serve basis.

Firm's largest sales of the 1st quarter Continue reading...

Even the most well-traveled among us have missed a flight or experienced the heart-stopping feeling of realizing you’re at the wrong gate and have three minutes to find the right one. But this never has to happen if you’ve set up flight alerts, which will hel…

Unilever stock fell on Thursday as sales were flat in the first quarter despite stockpiling, and the consumer goods giant warned of “lasting changes” in consumer behavior.

Unilever shares are attempting to enter a bull market ahead of its Q1 earnings release on Thursday, April 23.

Struggling e-commerce platform Jumia Technologies reported an almost 7 percent fall in first quarter revenue due to supply chain disruptions, particularly in China, but saw lower cash burn and signs that lockdowns were hastening a shift towards online shopping in Africa. Jumia was the first Africa-focused tech start-up to go public on the New York Stock Exchange and reached a market capitalisation of over $1.5 billion just days after it listed last April.

This week Netflix is getting The Lovebirds, starring Kumail Nanjiani and Issa Rae. The film was originally set to launch in theaters, but due to the COVID-19 pandemic is launching on Netflix instead on May 22.Read more...

Now that we’re all staying home, it’s a great time to save money for future travels. Canceled flights and trips have given some of us extra funds to tuck away, but if you’re still spending money on travel subscriptions, now’s the time to save even more by can…

Invests US$6 million in two companies in India and Indonesia that recycle local plastic waste into useful products ​​​​​​​​​Singapore, Singapore--(Newsfile Corp. - April 28, 2020) - Circulate Capital, the Singapore-based investment management company focused on advancing the circular economy, today announced that the Circulate Capital Ocean Fund (CCOF), the world's first investment fund dedicated to the ocean plastic crisis in South and Southeast Asia, has made its inaugural investments in two plastic recycling companies ...

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If you’re looking for a new MacBook, B&H Photo and Amazon are selling the 2019 MacBook Air and MacBook Pro models for between $150 and $300 off their regular prices. For the MacBook Pro in particular, that’s the best discount we’ve seen yet.Read more...

The summer travel season is a big revenue generator for U.S. airlines but the coronavirus threatens the carriers and risk assessment firm RapidRatings warns American Airlines is the most at risk of going bankrupt.

Ben & Jerry's won the dismissal on Thursday of a lawsuit by an environmental advocate who claimed the company deceived consumers by saying it used milk and cream from "happy cows" on "Caring Dairy" farms to make its premium ice cream. U.S. District Judge Christine Reiss rejected James Ehlers' claim in the proposed class action that Ben & Jerry's misleading marketing enabled it to burnish its socially conscious image and charge higher prices for its ice cream, even though more than half the milk and cream was mass-produced. Reiss said Ben & Jerry's "happy cows" claim was merely an opinion, and that Ehlers did not show that reasonable consumers would buy its ice cream solely because the company said on its website it used ingredients from "Caring Dairy" farms.

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It’s the last week of the month which means we’re not getting a ton of new content this week on Netflix, but we are losing quite a few shows.Read more...