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MarketWatch MarketPulseJun 03, 2020
AMC Entertainment warns of first-quarter loss as theaters remain closed during coronavirus pandemic
AMC Entertainment Holdings Inc. said Wednesday it expects its first-quarter net loss to range from $2.117 billion to $2.417 billion, as it books an impairment charge on estimated long lived assets and goodwill of $1.8 00 billion to $2.100 billion. The company had a net loss of $130.2 million for the three months ended March 31, 2019. The cinema chain has taken a hit during the coronavirus pandemic as its theaters have been closed and are expected to reopen with reduced capacity to allow for social distancing. The company is expecting an adjusted loss of $224.5 million, wider than the adjusted loss of $101.8 million posted a year ago. It expects revenue of about $941.5 million, down from $1.200 billion a year ago. The company will report first-quarter earnings after market close on June 9. AMC had a cash balance of $718.3 million as of April 30, including borrowings. It had net cash from operating activities, investing activities and financing activities of a negative $184.0 million, a negative $87.4 million and a negative $312.4, respectively, compared with $1.4 million, a negative $98.5 million and a negative $33.9 million a year ago. Adjusted free cash flow for the first quarter came to a negative $220 million and free cash flow was a negative $275.7 million. Shares fell 2.5% premarket and are down 23% in the year to date, while the S&P 500 has fallen 5%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



Yahoo BusinessJun 03, 2020
Stock market news live updates: Stock futures rise as markets shake off unrest, lousy ADP data
Stocks extended gains Wednesday as investors set their sights on more plans to reopen businesses in the near-term.


MarketWatch MarketPulseJun 03, 2020
Dunkin' stock rises as same-store sales show improvement over the past month
Shares of Dunkin' Brands Group Inc. rose 1.7% in premarket trading Wednesday after the coffee and ice cream seller provided a mid-quarter sales update, which showed improvement over the last month in its U.S. Dunkin' and Baskin-Robbins sales, helped by strength in drive-thru sales and a jump in midday sales. For the eight weeks ended May 23, same-store sales for open Dunkin' U.S. stores fell 23%, but improved to a decline of 15% for the week ended May 23 from a drop of 25% for the week ended April 25. The company said the improvement was driven by strong sales at drive-thru stores, double-digit percentage year-over-year same-store sales growth during the 11 a.m to 2 p.m. time period and increased sales through the Dunkin' app, delivery and curbside. For open Baskin-Robbins U.S. stores, quarter-to-date same-store sales fell 10.5%, with sales improving to flat for the week ended May 23 from down 10% for the week ended April 25. AS of May 23, about 650 of 9,637 Dunkin' U.S. stores were closed as a result of the COVID-19 pandemic. The stock has declined 4.4% over the past three months through Tuesday, while the S&P 500 has gained 2.6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



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MarketWatchJun 03, 2020
Europe Markets: European stocks rise for third straight session, with investors cheered by China data
European stocks extended gains for a third day on Wednesday as investors looked past U.S. unrest to data indicating more economic strength as global pandemic lock downs unwind.

MarketWatch MarketPulseJun 03, 2020
Seagate Technology offer senior notes due 2031
Seagate Technology plc said Wednesday its Seagate HDD Cayman subsidiary is planning to offer senior notes due 2031 in a private placement. Proceeds of the deal will be used to finance the cash portion of concurrent tender offers for its 4.750% notes due 2023 and 4.250% notes due 2022. Any remaining proceeds will be used for general corporate purposes, including repaying debt, capex and other investments in its data storage business. Shares were up 0.6% premarket, but are down 11% in the year to date, while the S&P 500 has fallen 5%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseJun 02, 2020
Zuckerberg defends Facebook stance on Trump posts: report
Facebook Inc. Chief Executive Mark Zuckerberg on Tuesday defended his decision to leave alone inflammatory posts by President Donald Trump on the social-networking platform despite criticism from employees and civil rights leaders. During a contentious town hall meeting with employees, initially scheduled for Thursday, Zuckerberg didn't hedge on the issue, employees told news organizations including the Wall Street Journal. A day after hundreds of employees staged a virtual walkout to protest the company's stance on Trump posts, Zuckerberg reiterated he doesn't believe private companies like Facebook should regulate political speech. While he said he personally found Trump's posts "deeply offensive," he thinks it is better for the debate over his comments to be held publicly than suppressed.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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