Alibaba revenue, profit beat as online sales surge during lockdown

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FILE PHOTO: A logo of Alibaba Group is seen at an exhibition during the World Intelligence Congress in Tianjin, China May 16, 2019. REUTERS/Jason Lee/File Photo

(Reuters) – China’s Alibaba Group Holding Ltd (BABA.N) reported better-than-expected quarterly revenue and profit on Friday, as the COVID-19 lockdowns drove more people to shop online for essentials.

The health crisis forced people to stay indoors and brick-and-mortar remained shut, resulting in a surge in demand for online orders.

Sales from the company’s core commerce business rose nearly 19% to 93.87 billion yuan ($13.16 billion) in the fourth quarter and revenue at

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Best Buy revenue, profit beat estimates as online sales surge

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FILE PHOTO: People wait for purchases outside of a Best Buy store due to the outbreak of coronavirus disease (COVID-19) in Arlington, Virginia, U.S. April 10, 2020. REUTERS/Joshua Roberts/File Photo GLOBAL BUSINESS WEEK AHEAD

(Reuters) – Best Buy Co Inc’s (BBY.N) quarterly revenue and profit topped analysts’ estimates on Thursday due to a surge in online sales of electronics needed for consumers to work from home.

The electronics retailer was forced to shutter stores across the country for weeks to help contain the spread of the coronavirus, but outlets continued to provide curbside delivery for online sales that

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Beyond Meat results beat, suspends 2020 forecast on COVID-19 concerns

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(Reuters) – Beyond Meat Inc reported better-than-expected quarterly results on Tuesday as it sold more of its plant-based meat products and cut costs on packaging and labor, sending its shares up 3% after the bell.

FILE PHOTO: The company logo and trading information for Beyond Meat is displayed on a screen during the IPO at the Nasdaq Market site in New York, U.S., May 2, 2019. REUTERS/Brendan McDermid

However, the vegetarian burger maker suspended its 2020 forecast as the COVID-19 pandemic hit demand for the company’s plant-based meat products at restaurants.

Closure of dine-in areas and restrictions on movement have

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Amgen studying Otezla for coronavirus, first-quarter results beat Street estimates

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FILE PHOTO: An Amgen sign is seen at the company’s office in South San Francisco, California October 21, 2013. REUTERS/Robert Galbraith/File Photo

(Reuters) – Amgen Inc (AMGN.O) on Thursday reported better-than-expected first-quarter results on Thursday and said it plans to study psoriasis drug Otezla as a potential treatment for COVID-19, the respiratory disease caused by the new coronavirus.

Otezla, which Amgen acquired last year from Celgene Corp as part of Celgene’s buyout by Bristol Myers Squibb Co (BMY.N), is a pill that helps reduce overactive inflammation. Other similar medicines are also being tested to see if

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