NEW YORK (AP) — Stocks that moved heavily or traded substantially on Friday:
NVIDIA Corp., up $10.04 to $361.05.
The chipmaker gave investors an encouraging revenue forecast after a surprisingly good first quarter.
Deere & Co., down $2.10 to $140.71.
The tractor and backhoe maker beat Wall Street's second-quarter profit forecasts even as demand fell amid the economic shock.
Coty Inc., up 42 cents to $3.75.
The owner of the Clairol and CoverGirl brands signed a distribution deal for Kylie Jenner’s “Kylie Skin" products in Europe.
Splunk Inc., up $20.81 to $184.26.
The maker of software for collecting and analyzing corporate data beat Wall Street's first-quarter earnings forecasts.
Palo Alto Networks Inc., up $8.43 to $237.93.
The security software maker raised its profit forecasts for the year after handily beating Wall Street's third-quarter expectations.
Hewlett Packard Enterprise Co., down $1.19 to $9.17.
The information technology company reported weak quarterly earnings and said it will slash costs.
Ross Stores Inc., down $2.99 to $93.88.
The discount retailer reported a surprisingly big first-quarter loss as the virus pandemic forced it to close stores.
Hertz Global Holdings Inc., down 23 cents to $2.84.
The rental car company has hit an impasse with its creditors and reportedly moved closer to bankruptcy.
Companies Mentioned in This Article
5 Travel Company Stocks Likely to Suffer From the Coronavirus
How important is the global travel and tourism industry? It’s a sector that accounts for about 10% of the world’s adult workforce. That’s 350 million people. The industry also accounts for at least 4% of the global gross domestic product (GDP).
In short, it’s an industry that accounts for trillions of dollars for the economy. And it relies on the most visible workers like pilots and cruise ship captains to the kitchen and housecleaning staff and servers. The travel industry is in many ways a service industry. But when there’s nobody to service, these businesses take a tumble.
And tumble it has. The world is going through a period of enforced social distancing. Many countries are taking even more extreme measures to lock down parts, or all, of their countries in an effort to contain the spread of the coronavirus and to flatten the curve to prevent healthcare workers and hospitals from being overwhelmed.
But that means fewer people are flying. Planned vacations are being canceled. And all of this is bad news for a sector that relies on the mobility of global travelers.
To be fair, the best of these companies should recover just fine. However, some of these companies had fundamental concerns that will be magnified by the loss of revenue.
View the "5 Travel Company Stocks Likely to Suffer From the Coronavirus".
