Conagra, Carnival, RH, Visa & more

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Take a look at some of the biggest movers in the premarket:

Conagra (CAG) – The food producer missed estimates by 2 cents a share, with fiscal third-quarter profit of 47 cents per share. Revenue also came in slightly short, however Conagra said it has seen significantly elevated demand for its food products over the past few weeks due to the virus outbreak. The company now expects to exceed its full-year sales and profit guidance.

Carnival (CCL) – The cruise line operator is suspending dividend payments and stock repurchases, as voyage suspensions continue amid the coronavirus outbreak. Carnival said it

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Coronavirus hits profitability of Asia Pacific banks, says Fitch

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Chinese customers wear protective masks as they line up single file to buy dumplings at a popular local shop on February 16, 2020 in Beijing, China.

Kevin Frayer | Getty Images

Asia Pacific banks will find it increasingly challenging to maintain their financial performance as economies around the world get hit by the coronavirus pandemic, Fitch Ratings said.

The ratings agency earlier this month downgraded the outlook for 10 banking systems in the region to “negative.” All 17 banking systems in Asia Pacific that Fitch assesses now have a “negative” outlook.

But the outlook assessment doesn’t necessarily indicate that economies

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Coronavirus is sparking worst recession since WWII, Stephen Roach says

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Economist Stephen Roach believes the country is sinking into an unprecedented recession.

Roach, who’s former chairman of Morgan Stanley Asia, warns the coronavirus is spiraling the United States into a downturn that’ll be difficult to exit.

“This is a sudden stop in the U.S. economy. The hope is we’ll get through this. But it’s at least two quarters of the sharpest declines we’ve seen since the end of World War II,” the Yale University senior fellow told CNBC’s “Trading Nation” on Monday. 

Roach expects the coronavirus pandemic will eventually be resolved. However, he contends a spontaneous regeneration of animal spirits

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Stock futures rise, extending rebound from coronavirus sell-off

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Stock futures climbed slightly higher in overnight trading on Monday, continuing the market’s rebound from its deep rout triggered by the coronavirus pandemic.

Futures on the Dow Jones Industrial Average rose about 70 points. The S&P 500 futures also traded 10 points higher.

The overnight action followed a strong session on Wall Street, with the Dow jumping nearly 700 points led by an 8% pop in Johnson & Johnson after it announced a vaccine candidate for the coronavirus. The S&P 500 rallied 3.4%.

Investors embraced a more realistic government approach to contain the pandemic. President Donald Trump extended the timeline

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