WeWork co-founder Neumann sues SoftBank over failed tender offer

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FILE PHOTO: Adam Neumann, chief executive officer of U.S. co-working firm WeWork, speaks during a signing ceremony in Shanghai, China April 12, 2018. Picture taken April 12, 2018. Jackal Pan via REUTERS/File Photo

(Reuters) – WeWork co-founder Adam Neumann filed a lawsuit against Japan’s SoftBank Group Corp and its Vision Fund on Monday for terminating a $3 billion tender offer to the office-sharing startup’s shareholders.

The tender offer was part of a $9.6 billion rescue financing package that SoftBank agreed with WeWork in October and gave it control of the company. Since then, WeWork’s occupancy rates have plummeted amid the

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Coronavirus will constrain U.S. meat supply despite Trump order: Tyson Foods

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(Reuters) – The coronavirus crisis will continue to idle U.S. meat plants and slow production, Tyson Foods Inc said on Monday, signaling more disruptions to the U.S. food supply after U.S. President Donald Trump ordered facilities to stay open.

Tyson reported lower-than-expected earnings and revenue for the quarter ended on March 28, before processors shut massive slaughterhouses as the respiratory illness spread among workers. Shares fell more than 8% as Tyson also said meat sales will fall in the second half of the year because the outbreak has reduced restaurant demand.

Trump last week deemed meatpacking plants “critical infrastructure” that

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Discounts may help cure U.S. auto market’s coronavirus hangover

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(Reuters) – Texas auto dealer Hayden Elder says March was his worst month in 42 years selling cars thanks to the coronavirus, but April brought days that were “almost normal” and he expects bigger customer discounts to help him sell more Dodge Ram pickup trucks this month.

FILE PHOTO: New cars are seen lined up next to the dock as the global outbreak of the coronavirus disease (COVID-19) continues, at the Port of Los Angeles, California, U.S., April 29, 2020. REUTERS/Lucy Nicholson/File Photo

The virus outbreak and resulting stay-at-home orders have clobbered the U.S. vehicle market.

But from his corner

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Chegg, Hertz, L Brands and more

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Dan Rosensweig, CEO, Chegg

Scott Mlyn | CNBC

Check out the companies making headlines after the bell.

Shake Shack — The burger chain’s stock whipsawed in extended trading after the company provided its first-quarter earnings. Shake Shack said it had earnings of 2 cents per share excluding some items on revenue of $143.2 million, while analysts did not expect any earnings and estimated revenue at $145.1 million, according to Refinitiv. The company reported a 12.8% year-to-date decrease in same-store sales and said in a statement that it expects to incur additional costs and investments in supplies necessary to keep its

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