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Wednesday, September 23, 2020
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Consumer discretionary and consumer staples companies news.

Some of the major cinemas began to reopen this weekend and plan to be fully reopened by Labor Day weekend after a five-month hiatus. AMC, Regal, Cinemark, Marcus Theaters and Southern Theaters all shut their doors early in the pandemic amid rising coronavirus cases in many areas...
On Thursday, GM debuted its North American plans to launch the Cadillac Lyriq as the American automaker unveiled the “next chapter” in luxury automobiles. The Lyriq is the first vehicle to come with the automaker’s next-generation batteries and electric vehicle architecture. The Lyriq will...
The FDA has approved a heart pump to treat COVID-19 patients who have severe heart and lung failure. The approval was an emergency measure to use the Impella heart pump made by Abiomed. The heart pump works with an oxygen machine to treat coronavirus patients with specific...
Eastman Kodak stock skyrocketed this week after President Trump announced a deal to have the historical photography company make generic ingredients. Shares for Kodak were up by over 2700 percent at one point this week on the news. The NYSE halted trading several times due to the...
According to the Federal Trade Commission, U.S. consumers have lost $77.4 million because of fraudulent COVID-19 scams this year. Experts believe the figure is likely higher because scams are usually under-reported, particularly right now, as there are “unprecedented” efforts to scam Americans amid the coronavirus outbreak.
Gilead Sciences, the drugmaker for remdesivir, the promising new coronavirus treatment, has announced that it will begin charging for the drug in July. The pharmaceutical company had been donating some of the medication for government distribution since May when it received emergency authorization use.
Since the COVID-19 crisis first became apparent in January, there’s been a record-breaking $2 trillion surplus in deposit accounts across U.S. banks. According to the FDIC, deposits in April soared by $865 billion. That amount was more than any record for an entire year.
On Friday, the stock market rallied as the U.S. experienced a surge in jobs and offered a glimpse of hope that the American economy may be starting to recover from the COVID-19 pandemic. The economy added 2.5 million jobs in May, a record-gain. Meanwhile, according to the...
Amazon has alerted its sellers that it plans to host a summer sale, beginning June 22. The sale is expected to help boost sales for sellers who had to deal with delivery delays due to priority shipments at the onset of the coronavirus pandemic. The retailer is...
It’s been tough to find any good news with an awareness of the coronavirus being more heightened. But homeowners and would-be-homeowners might feel differently. Refinancing rates for 30-year mortgages recently fell to 3.57 percent, while mortgage rates for new loans stood at 3.11 percent...