Dow Jones News: Walgreens Pulls Guidance; Boeing Offers Employee Buyouts
The Dow Jones Industrial Average (DJINDICES: ^DJI) staged a rally on Thursday, but the gains had largely faded by early afternoon. The Dow was up just 0.4% at 1:30 p.m. EDT today.
This attempted rally comes as the number of Americans filing for unemployment benefits has exploded due to the coronavirus pandemic, with 6.65 million claims recorded last week. That brings the two-week total to 10 million. The U.S. now has over 225,000 confirmed cases of the virus, and over 5,300 deaths, according to Johns Hopkins University.
Two stocks dragging down the Dow on Thursday were Walgreens Boots Alliance (NASDAQ: WBA) and Boeing (NYSE: BA). Walgreens reported solid quarterly results, but the retailer pulled its guidance and warned about slumping sales in late March. Meanwhile, Boeing is reportedly offering employees buyout packages in an effort to cut costs and avoid involuntary layoffs.
Source Fool.com
