U.S. House of Representatives will not return to Washington next week -Hoyer

WASHINGTON, April 28 (Reuters) – The U.S. House of Representatives will not return to Washington next week as planned, Majority Leader Steny Hoyer said on Tuesday, citing health concerns amid a still-rising number of coronavirus cases in the nation’s capital.

Hoyer, a Democrat, said the decision was made after he talked to Congress’ physician on Monday. “The House’s physician’s view was that there was a risk to members,” Hoyer told reporters. (Reporting by Susan Cornwell, writing by Doina Chiacu, Editing by Franklin Paul)

Stock Alert: Rockwell Automation Climbs 5% As Earnings Top Estimates

Shares of Rockwell Automation, Inc. (ROK), that provides industrial automation power, control and information solutions, are moving on the higher side by 5% Tuesday morning after reporting better-than-expected second-quarter results.

Earnings, on an adjusted basis, for the second quarter rose 19% to $2.04 per share from $2.04 per share, largely influenced by lower incentive compensation expense. On average, 22 analysts polled by Thomson Reuters were expecting earnings of $1.82.

Sales were $1.681 billion, up 1.5 percent from last year. The consensus estimate was at $1.62 billion.

For the full year, the company however projects sales to decline in the range of 6.5% – 3.0% and adjusted EPS are expected between $6.90 – $7.70. Analysts see earnings of $6.99 and sales decrease of 6.2%.

ROK is currently trading at $193.55 nearing towards its 52 week high of $209.60.

McDonald’s To Offer Free ‘Thank You Meals’ To Frontline Workers

McDonald’s (MCD) is offering free “Thank You Meals” for first responders and health care workers who are selflessly serving during the coronavirus pandemic.

The fast-food giant on Tuesday announced that starting Wednesday, April 22, through Tuesday, May 5, health care workers, police officers, firefighters and paramedics can get a free meal at participating restaurants nationwide.

The Thank You Meal, available during breakfast, lunch or dinner, will feature a choice of sandwiches, drinks, and a side featuring small World Famous Fries or a Hash Brown, along with a note of appreciation.

“We have been inspired by the way our franchisees have been going above and beyond to support their local communities throughout this trying time,” said Joe Erlinger, President, McDonald’s USA. “I couldn’t be more proud of how our company, franchisees and supplier partners have come together to give back to those who are working tirelessly for our country. That is truly our McDonald’s system at its best.”

Stock Alert: F5 Networks Up 11%

Shares of F5 Networks, Inc. (FFIV) are currently gaining over 11% on Tuesday morning. The computer networking company yesterday reported a second-quarter results that topped Wall Street estimates reflecting the surge in work-from-home requirements amid the coronavirus crisis.

FFIV is currently trading at $146.31, up $15.39 or 11.76%, on the Nasdaq.

F5 Networks reported second-quarter earnings of $61.38 million or $1.00 per share, down from $116.09 million or $1.93 per share last year.

Adjusted earnings were $135.95 million or $2.23 per share for the period. Analysts polled by Thomson Reuters expected earnings of $1.95 per share.

Revenue for the quarter rose 7.1% to $583.45 million from $544.90 million last year.

The company said it expects fiscal third-quarter sales between $555 million and $585 million with adjusted earnings in the range of $1.91 to $2.13 per share. Analysts currently estimate earnings of $1.84 per share and revenues of $546.86 million.

Stock Alert: Rockwell Automation Climbs 5% As Earnings Top Estimates

Shares of Rockwell Automation, Inc. (ROK), that provides industrial automation power, control and information solutions, are moving on the higher side by 5% Tuesday morning after reporting better-than-expected second-quarter results.

Earnings, on an adjusted basis, for the second quarter rose 19% to $2.04 per share from $2.04 per share, largely influenced by lower incentive compensation expense. On average, 22 analysts polled by Thomson Reuters were expecting earnings of $1.82.

Sales were $1.681 billion, up 1.5 percent from last year. The consensus estimate was at $1.62 billion.

For the full year, the company however projects sales to decline in the range of 6.5% – 3.0% and adjusted EPS are expected between $6.90 – $7.70. Analysts see earnings of $6.99 and sales decrease of 6.2%.

ROK is currently trading at $193.55 nearing towards its 52 week high of $209.60.

Trump Says He May Order Virus Tests for International Travelers

President Donald Trump said he’s considering requiring people arriving in the U.S. aboard international flights to be tested for coronavirus infection.

The government is “looking at it very closely,” he said Tuesday in a White House meeting with Florida Governor Ron DeSantis, a fellow Republican. Asked whether he meant temperature checks of arriving passengers or diagnostic tests, he said “both.”

DeSantis said he’d like airlines to screen passengers arriving from coronavirus hotspots but doesn’t endorse “necessarily cutting them off.”

Trump invited DeSantis to recommend countries that should be “cut off” from traveling to the U.S., specifically mentioning Brazil. “You’ll let us know,” he told the governor.

Trump has previously restricted travel from China and Europe in an effort to curb the U.S. outbreak, which has grown to nearly 1 million cases, the largest in the world.

— With assistance by Jonathan Levin

TripAdvisor Cutting About a Quarter of Staff Amid Travel Freeze

TripAdvisor Inc. is cutting about a quarter of its workforce in a bid to shrink costs as the global coronavirus pandemic decimates travel.

Needham, Massachusetts-based TripAdvisor is eliminating 600 positions in the U.S. and 300 people in other offices around the world, according to people briefed on the matter. Most remaining employees will be forced to take a 20% salary reduction and the company will close its offices in San Francisco and downtown Boston, according to the people, who asked not to be named discussing information that’s not yet public. A TripAdvisor spokesman confirmed that the company is cutting jobs. Axios reported on the moves earlier without providing details.

The Covid-19 outbreak has gutted the travel sector as many countries have imposed lockdowns, bringing an end to business trips and vacation plans. Expedia Group Inc.’s credit rating has been downgraded, Airbnb Inc.’s highly anticipated public listing debut is in jeopardy and Booking Holdings Inc. Chief Executive Officer Glen Fogel, who tested positive for coronavirus, has asked for government help.

— With assistance by Shelly Banjo, and Gerrit De Vynck