Miércoles 29/04/20 El anuncio del Fed

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Do PBI americano se reduce en 4.8% vs. 3.5% esperado.

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Weekly mortgage applications to buy a home make a strong recovery, as rates hit a new record low
PUBLISHED WED, APR 29 20207:00 AM EDTUPDATED 18 MIN AGO
Diana Olick
@IN/DIANAOLICK
@DIANAOLICKCNBC
@DIANAOLICK
The average contract interest rate for 30-year fixed-rate mortgages decreased to 3.43% from 3.45% last week.
That boosted mortgage demand from homebuyers by 12%, signaling a potential turn in buyer confidence.
Mortgage applications to buy a home rose last week, but refinance demand fell, causing total application volume to decline by 3.3% for the week, according to the Mortgage Bankers Association’s seasonally adjusted index.
WATCH NOW
VIDEO01:18
Mortgage applications rise, signaling a potential turn in buyer confidence
Evidence is mounting that homebuyers may be coming back to the market, after demand plummeted in the past month due to the coronavirus.

Mortgage applications to buy a home rose last week, but refinance demand fell, causing total application volume to decline by 3.3% for the week, according to the Mortgage Bankers Association’s seasonally adjusted index.


Mortgage demand from homebuyers jumped 12%, signaling a potential turn in buyer confidence. Volume was still 20% lower than the same week one year ago. Real estate firms and listing websites have been reporting more buyer demand anecdotally over the past two weeks, and some homebuilders say they are also seeing buyers come back.

“The 10 largest states [by application volume] had increases in purchase activity, which is potentially a sign of the start of an upturn in the pandemic-delayed spring homebuying season, as coronavirus lockdown restrictions slowly ease in various markets,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting. “California and Washington continued to show increases in purchase activity, with New York seeing a significant gain after declines in five of the last six weeks.”

Adding to the incentives for buyers, mortgage rates fell to a record low on the MBA index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances of $510,400 or less decreased to 3.43% from 3.45%. Points, including origination fee, increased to 0.34 from 0.29 for loans with a 20% down payment. That rate was nearly a full percentage point higher than a year ago. Mortgage underwriting, however, continues to be tight, as lenders see higher risk from the economic downturn.

Applications to refinance a home loan fell 7% for the week but were 218% higher than a year ago. Refinances are getting harder to do, as some lenders have stopped offering certain products, due to the new risk in the market from the mortgage bailout program, part of the CARES Act. This has caused rates for refinances to be higher than rates to buy a home.

“Lenders are still working through pipelines at capacity, and observed changes in credit availability for refinance loans have also in turn impacted rates,” Kan said.

The refinance share of mortgage activity decreased to 71.6% of total applications from 75.4% the previous week. The adjustable-rate mortgage share of activity increased to 2.9% of total applications.

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LabCorp swings to a loss, withdraws 2020 guidance as coronavirus outbreak drives up costs
PUBLISHED WED, APR 29 20207:39 AM EDTUPDATED 29 MIN AGO
William Feuer
@WILLFOIA
LabCorp reported Wednesday a net loss for the first quarter as the coronavirus pandemic drove up costs and cut demand, prompting the company to withdraw 2020 guidance.
The company reported a net loss of $317.2 million, compared to earnings of $185.6 million over the same period last year.
The company said the coronavirus outbreak drove a 50% to 55% plummet in demand for testing services at the end of the quarter compared to the same period last year.
GP: Labcorp CEO Adam Schechter
Labcorp CEO Adam Schechter talks as Pharmaceuticals industry executives and government Health officials meet with Vice President Mike Pence on the Coronavirus crisis at the White House on March 4, 2020 in Washington,DC.
Eric Baradat | AFP | Getty Images
LabCorp reported Wednesday a net loss for the first quarter as the coronavirus pandemic drove up costs and cut demand, prompting the company to withdraw 2020 guidance.

The Burlington, North Carolina-based company reported total revenue of $2.82 billion, up 1% compared to the same time last year. However, the company posted a net loss of $317.2 million, compared to earnings of $185.6 million over the same period last year.


The company reported goodwill costs of $437.4 million that “were triggered by the current economic conditions as a result of the COVID-19 pandemic.” It reported another $21.9 million in costs directly related to the coronavirus for the quarter, which ended March 31.

The company, which manufactures diagnostic tests, said the coronavirus outbreak drove a 50% to 55% plummet in demand for testing services at the end of the quarter compared to the same period last year. That hit to demand was “marginally offset by an increase in demand for COVID-19 tests,” the company said, adding that the drop in volume appears to have stabilized.

To mitigate the effects of the coronavirus pandemic, LabCorp said it is scaling back expenditures and suspending its stock buyback program. The company said it is also furloughing workers, delaying hiring, reducing contractors and suspending 401(k) contributions for all U.S. employees. The company said it is looking to utilize available federal stimulus programs.

Shares of LabCorp rose more than 1% in premarket trading.

“During the quarter we delivered solid performance across the company, especially considering the challenges associated with the COVID-19 pandemic,” CEO Adam Schechter said in a statement.


LabCorp said it expects to make up for the hit to testing demand by ramping up its capacity to conduct Covid-19 antibody testing to more than 200,000 tests per day by mid-May.

The company began to offer antibody testing, which can determine whether someone has been exposed to and already recovered from the virus, at some Walgreens stores on Monday. The drugstore chain now has the blood tests at more than 100 LabCorp centers within its stores.

The company will continue to increase its production of Covid-19 diagnostic tests, including an at-home offering, it said. The Food and Drug Administration granted approval for the at-home test earlier this week. The test allows people to collect a sample for themselves via a nasal swab and send it to a lab.The diagnostic test will first be available to health-care workers and first responders who receive a recommendation by a health-care provider.

Despite those cutbacks, the company said its liquidity remains strong. As of March 31, the company had $324 million in cash and $924 million available under its revolving credit facility.

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Boeing burns through $4.3 billion in cash, seeks to cut 10% of workforce as coronavirus hurts demand
PUBLISHED WED, APR 29 20207:08 AM EDTUPDATED MOMENTS AGO
Leslie Josephs
@LESLIEJOSEPHS
Boeing is facing a dismal market for new planes with coronavirus and shelter-in-place orders keeping travelers off airplanes.
The company posted a $641 million loss in the first quarter and is seeking workforce reductions.
Boeing’s airline customers have said they expect to shrink because of the pandemic’s impact on demand.
RT: Boeing 737 Max - 106346772
An employee works near a Boeing 737 Max aircraft at Boeing’s 737 Max production facility in Renton, Washington, U.S. December 16, 2019.
Lindsey Wasson | Reuters
Boeing posted a first-quarter loss of $641 million Wednesday and said it burned through $4.3 billion in cash during the first quarter as the company faces the coronavirus crisis and the 13-month-long grounding of its best-selling plane, the 737 Max.

The company said it is planning to reduce aircraft production, including of the 787 Dreamliner and to cut payroll by about 10% through voluntary measures and “involuntary layoffs as necessary.”


Boeing had about 160,000 employees at the end of last year.

“We’ll have to make even deeper reductions in areas that are most exposed to the condition of our commercial customers — more than 15% across our commercial airplanes and services businesses, as well as our corporate functions,” CEO Dave Calhoun said in a staff memo.

Shares were up more than 4% in premarket trading.

Here’s how the company did in the first quarter:

EPS: A loss of $1.70
Revenue: $16.91 billion
Revenue plunged 26% from a year earlier to $16.91 billion and the company posted an adjusted per-share loss of $1.70.

Wall Street expected the aircraft manufacturer to post a per-share loss of $1.61 and revenue of $17.30 billion, according to Refinitiv estimates.

CH 20200428_boeing_net_income_q1_2020.png
Boeing is facing a dismal market for new planes as air travel demand plunges as the pandemic and measures to stop it from spreading keep travelers home. In the past few weeks, it had largely outlined its challenges, such as an increase in cancellations of new planes.

With air travel in the U.S. down 95% from a year ago, Calhoun told shareholders on Monday it likely would take two or three years for travel demand to recover to 2019 levels, a sharp turnaround for an industry that just earlier this year was betting on continued growth.

The grim outlook comes as Boeing is already grappling with the fallout of two crashes of its 737 Max that killed 346 people. The planes are still grounded more than a year after they were ordered out of the skies by federal regulators. Boeing is still working on a fix. Meanwhile, cancellations of orders for the planes have piled up.

The company will hold an analyst call at 10:30 a.m. ET, when executives are expected to detail Boeing’s cost-cutting measures, aircraft production plan and its expectations for raising additional liquidity.

Boeing has recently drawn down on a nearly $14 billion loan and sought $60 billion in government aid for itself and its supply chain, which includes General Electric and Spirit Aerosystems, but Calhoun has balked at the possibility of providing the government an equity stake in return for federal aid. Boeing has recently offered employee buyouts and frozen hiring.

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Dow set to jump 500 points at the open after positive news on Gilead coronavirus treatment

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https://thehill.com/opinion/healthcare/ ... ation?#_=_

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LAST CHG %CHG
DJIA 24590.08 488.53 2.03
S&P 500 2930.38 66.99 2.34
Nasdaq Composite 8863.42 255.69 2.97
Japan: Nikkei 225 19771.19 -12.03 -0.06
UK: FTSE 100 6115.69 157.19 2.64
Crude Oil Futures 16.36 4.02 32.58
Gold Futures 1715.40 -6.80 -0.39
Yen 106.60 -0.27 -0.25
Euro 1.0854

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Gilead says early results of coronavirus drug trial show improvement with shorter remdesivir treatment
PUBLISHED WED, APR 29 20208:36 AM EDTUPDATED MOMENTS AGO
Berkeley Lovelace Jr.
@BERKELEYJR
WATCH NOW
VIDEO06:55
Gilead reports ‘positive data’ on remdesivir coronavirus drug trial
Gilead Sciences said Wednesday preliminary results of a coronavirus drug trial showed at least 50% of patients treated with a 5-day dosage of antiviral drug remdesivir improved and more than half were discharged from the hospital within two weeks.

The company also said another trial by the National Institute of Allergy and Infectious Diseases met its main goal. It did not provide further details, however.


Shares of Gilead were up more than 3% in midmorning trading.

The clinical trial involved 397 patients with severe cases of Covid-19. The severe study is “single-arm,” meaning it did not evaluate the drug against a control group of patients who didn’t receive the drug.

RT: Coronavirus Gilead An ampule of Ebola drug remdesivir
An ampule of Ebola drug remdesivir is pictured during a news conference at the University Hospital Eppendorf (UKE) in Hamburg, Germany, April 8, 2020, as the spread of coronavirus disease (COVID-19) continues.
Ulrich Perrey | Reuters
The study tracked two groups of patients who were hospitalized with Covid-19. One group received a 5-day treatment of remdesivir, while the other group took the drug for 10 days. The researchers said more than half of the patients in both treatment groups were discharged from the hospital within 14 days. They said 64.5% of the patients who received the shorter treatment course were discharged, compared with 53.8% of the group who were treated for 10 days.

“These data are encouraging as they indicate that patients who received a shorter, 5-day course of remdesivir experienced similar clinical improvement as patients who received a 10-day treatment course,” said Aruna Subramanian, a lead investigator of the study.

There are no proven treatments for Covid-19, which has infected more than 3 million people worldwide and killed at least 217,569 as of Wednesday morning, according to data compiled by Johns Hopkins University. U.S. health officials say producing a vaccine to prevent the disease will take at least 12 to 18 months, making finding an effective drug treatment soon even more crucial.

There a number of ongoing studies testing Gilead’s remdesivir to see if it’s effective in stopping the coronavirus from replicating.

Remdesivir has shown some promise in treating SARS and MERS, which are also caused by coronaviruses. Some health authorities in the U.S., China and other parts of the world have been using remdesivir, which was tested as a possible treatment for the Ebola outbreak, in hopes that the drug can reduce the duration of Covid-19 in patients.

Dr. Scott Gottlieb, shortly after the Gilead news was released, described remdesivir as “part of a better toolbox” for dealing with the coronavirus. But he said on CNBC’s “Squawk Box” that it’s “not a home run, a cure by any means.”

“It’s not going to be a cure, but it is going to be a drug potentially that if you use it particularly early in the course of the disease ... it could reduce their chances of having a really bad outcome,” he said.

Gilead shares have seesawed in recent weeks as investors bet on developments for treatments for the coronavirus.

Earlier this month, Gilead surged after details leaked about one of its clinical trials, showing what appeared to be promising results in treating the disease. The University of Chicago found that patients with Covid-19 had “rapid recoveries in fever and respiratory symptoms” and were discharged in less than a week, according to STAT News.

The company’s stock fell last week after multiple reports, citing a draft document that was accidentally published by the World Health Organization, said the drug did not improve Covid-19 patients’ conditions or reduce the virus’ presence in the bloodstream in a clinical trial in China.

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https://thehill.com/opinion/healthcare/ ... -isolation

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