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CNBC.com’s MacKenzie Sigalos brings you the top business news headlines of the day and what to see as the coronavirus pandemic continues to keep most of the United States locked away. This is what we are seeing tonight:
“If you are a shareholder in Amazon, you may want to take a seat” – Amazon reports earnings, plans to spend all second quarter earnings in response to coronavirus
Beyond the results, the biggest news in Amazon’s report was that it plans to spend all of its second-quarter earnings, an estimated $ 4 billion, to respond to the coronavirus pandemic. That includes hundreds of millions of dollars that he plans to spend on testing Covid-19 for his workers and beefing up his delivery network to get packages to customers on time.
“If you are a shareholder in Amazon, you may want to take a seat because we are not thinking small,” Amazon said in the press release. “Under normal circumstances, in this upcoming Q2, we would expect to make $ 4 billion or more in operating profit. But these are not normal circumstances.”
Apple reports fixed income and offers no guidance due to coronavirus uncertainty
Apple shares fell more than 2% during extended trading on Thursday after the company reported a slight increase in second-quarter revenue to $ 58.3 billion, during a period when supply and demand for the products Apple were negatively affected by the Covid-19 pandemic.
“In the midst of the most challenging global environment in which we have operated our business, we are proud to say that Apple grew during the quarter,” Apple CEO Tim Cook said during a call with analysts.
How a handful of Apple and Google employees teamed up to help health officials track down the coronavirus
One of the most ambitious projects in Apple’s history launched in less than a month and was powered by a handful of employees.
In mid-March, with Covid-19 spreading to almost every country in the world, a small team from Apple began exchanging ideas on how they could help. They knew that smartphones would be key to the global coronavirus response, particularly as countries began to relax their refugee orders in place. To prepare for that, governments and private companies were creating so-called “contact tracking” applications to monitor citizens’ movements and determine if they might have come into contact with someone infected with the virus.
