Futures lower, awaiting jobless claims, Best Buy falls

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People who lost their jobs wait in line to file for unemployment following an outbreak of the coronavirus disease (COVID-19), at an Arkansas Workforce Center in Fort Smith, Arkansas, U.S. April 6, 2020.

Nick Oxford | Reuters

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7:50 am: Best Buy falls after earnings report

Shares of Best Buy fell 2% in premarket trading after the electronics retailer reported its first quarter results. The company beat Wall Street estimates on the top and bottom lines, but it did not give future guidance. Comparable sales were down 5.3%, even though online sales

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Tech stocks jump, futures flat, awaiting jobless claims

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7:41 am: Facebook shares jump on ad revenue ‘stability’

Shares of the social media giant jumped more than 8% in the premarket after the company reported “stability” in its ad revenue after a decline in March. Facebook said its March ad revenues dropped sharply amid the coronavirus pandemic, but noted it stabilized in the first few weeks of April. The company’s overall revenues for the first quarter beat expectations. “The COVID impact, while negative, is less severe for FB (25 points of decel) than peers such as Google search, Snap

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Futures flat, awaiting jobless claims

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People who lost their jobs wait in line to file for unemployment following an outbreak of the coronavirus disease (COVID-19), at an Arkansas Workforce Center in Fayetteville, Arkansas, April 6, 2020.

Nick Oxford | Reuters

This is a live blog. Please check back for updates.

7:42 am: Target sees ‘Cyber Monday’-sized online sales boom

Target has seen a sharp increase in online sales, as shoppers try to limit time inside stores or avoid the trips altogether during the coronavirus pandemic, CEO Brian Cornell said. The trend has worked in the discount retailer’s favor, and it expects to emerge from the 

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Alaska’s RavnAir bankruptcy while awaiting government aid shows regional airlines’ challenges

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WASHINGTON/CHICAGO (Reuters) – RavnAir Group, the largest regional carrier in Alaska, filed for bankruptcy on Sunday and grounded all of its 72 planes, saying it was clear that government aid would not arrive before it ran out of cash in the midst of an “astonishing” decline in bookings and revenue due to the coronavirus.

FILE PHOTO: Delta Air Lines passenger planes are seen parked due to flight reductions made to slow the spread of coronavirus disease (COVID-19), at Birmingham-Shuttlesworth International Airport in Birmingham, Alabama, U.S. March 25, 2020. REUTERS/Elijah Nouvelage

Its Chapter 11 filing underscores the challenges facing other U.S.

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