CEO Pay Cut Sends SPCE Spiraling

COVID-19 fears continue to drive stocks lower

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MIDDAY MARKET CHECK     3/05/2020
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Stocks Extend Losses as Coronavirus Fears Grip Wall Street By Emma Duncan Share On The Dow Jones Industrial Average (DJI) is extending its losses this afternoon, down almost 600 points as Wall Street fails to adjust to the potential long-term outcome of the global spread of COVID-19. With over 94,000 cases now reported by the World Health Organization (WHO), safe haven assets are looking attractive, sending April-dated gold futures up to a one-week high, up 1.2% at $1,662.70 per ounce at last check. Oil prices meanwhile, are brushing off the Organization of the Petroleum Exporting Countries' (OPEC) decision to temporarily cut production by 1.5 million barrels per day (bpd). April-dated crude was last seen down 0.4% at $46.61 per barrel. Continue reading for more on today's market, including:  CEO pay cut slams Virgin Galactic stock. Retailer extends losses despite earnings beat. Plus, behind SPLK's post-earnings options volume surge; the latest pharma stock to pop on coronavirus news; and CMTL stock suffers massive slide.  >> Continue reading...
LATEST HEADLINES
>> Burlington Stock Bounces After Earnings Beat The retailer's fourth-quarter earnings exceeded analysts' expectations >> American Eagle Stock Flies Lower Despite Earnings Beat AEO's 50-day moving average has kept a lid on any rallies since November >> Inflation Data, Earnings Stragglers on Deck Broadcom, Adobe, Gap, and Ulta will step into the earnings confessional >> C-Suite Pay Cuts Slam Virgin Galactic Stock Virgin Galactic's CEO will take a 20% pay cut, while the executive team's wages will be reduced by 15% >> Dow Futures Nosedive as U.S. COVID-19 Cases Flare Dow futures are signalling a roughly 600 point drop this morning Sponsored Do you own gold? See that volume spike? Somebody just decided to buy a LOT of gold. And I think I know why... it's all about a meeting that's scheduled for March 18. If you own gold (even just a few ounces of it) you've got to see what's happening. The big announcement is just days away. Click here now.
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