New for subscribers: RBC's top ideas for what's likely to be a volatile second quarter Check out CNBCPro and get your first 30 days free.
A man wearing a mask walks by the New York Stock Exchange on March 17, 2020 at Wall Street in New York City.RBC Capital Markets sent a note to clients with 30 global stocks for the quarter ahead, making major changes to its previous list of top stocks after a tumultuous three months.
"While equity markets have recovered off recent lows as central bank intervention has lowered risk within credit and funding markets and Chinese data recovers, we anticipate a volatile market in the months ahead," the note said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Luxury Revenues Seen Dropping 20% to 30% This YearRBC Europe predicts steep sales and earnings declines; Bernstein warns the coming quarters will be “the most horrible in industry history.”
Read more »
Stocks Plunge To Start Second Quarter As U.S. Tops 200,000 Coronavirus CasesThe stock market plunged today, marking a dismal start to the second quarter as coronavirus continued to take a toll on the economy, and a slate of bad news related to the pandemic caused concern on Wall Street by skleb1234
Read more »
Two stocks could be best long trades as second quarter begins, strategist saysStrata Analytics founder and macro strategist calls this new environment an 'exercise in adaptation' for investors and says there are still a few bright spots amid the heightened volatility.
Read more »
US stock futures up Wednesday after a rough start to Q2 for Wall StreetCNN News, delivered. Select from our newsletters below and enter your email to subscribe.
Read more »
Stocks Close 4% Lower as Second Quarter Starts With More LossesThe Dow industrials and S&P 500 declined after President Trump issued a stark new warning on the spread of the novel coronavirus in the U.S., reviving concerns about the potential damage to the world’s largest economy.
Read more »
Tenneco to reduce second-quarter salary costs by 25%, including furloughs and pay cutsAuto parts maker Tenneco Inc. announced Friday a series of actions its taking to combat the negative effects of the COVID-19 pandemic, which current estimates suggest the second-quarter will be the most severely impacted. For the second quarter, the company said it will cut salary cuts by at least 25% through unpaid furloughs and reduced pay and available temporary support programs. Tenneco said its executive leadership will take a 50% pay cut during the quarter, with the CEO not receiving any salary. After the second quarter, overall salary costs will be lowered by at least 10% from the original levels for the rest of the year. In addition, Tenneco said it will cut capital expenditures for 2020 to less than $400 million from previous guidance of $610 million to $650 million, and is withdrawing the financial guidance it provided in February. For liquidity, the company said it had cash balances of about $700 million, and has drawn about $700 million from its $1.5 billion revolving credit facility. The stock, which was still inactive in premarket trading, had plunged 77.8% over the past three months, while the S&P 500 has dropped 21.9%.
Read more »