With COVID-19, there’s big demand for hand sanitizer.
So much so, retailers are struggling to keep product shelves, as governments and health professionals advise folks to keep their hands clean. In fact, according to the World Health Organization, “Use an alcohol-based hand sanitizer with at least 60% alcohol. Always wash hands with soap and water if hands are visibly dirty.”
With such demand, the makers of Purell, GOJO Industries recently said, “We are seeing a substantial increase in demand. We have experienced several demand surges in the past during other outbreaks, and this is on the higher end of the spectrum.”
Even analysts at Nielsen found that dollar sales of hand sanitizer in the four weeks ending on March 7 exploded 228% year over year, as noted by CNN. All as the world fights back against the coronavirus. As the global story unfolds, some of the top stocks to keep an eye on include The Yield Growth Corp. (CSE:BOSS)(OTC:BOSQF), Clorox Co. (NYSE:CLX), Kimberly Clark Corp. (NYSE:KMB), Huntsman Corp. (NYSE:HUN), and Kroger Co. (NYSE:KR).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. has submitted an application to Health Canada for expedited approval of its Urban Juve hand sanitizer. This is part of Yield Growth’s effort to meet extensive product demand and help battle the coronavirus in Canada. Urban Juve’s natural hand sanitizer spray consists of 65% alcohol as per Health Canada guidelines, with a refreshing, clean blend of peppermint, lavender and orange peel oils. Urban Juve has secured the supply for all the packaging and raw ingredients for an initial production run and plans to have the product available for sale within the next 60 days. “Our company develops and offers products to improve lives. We are all hands on deck to be able to produce and provide consumers a hand sanitizer at a reasonable price and in a timely manner to meet the burgeoning demand,” says Yield Growth CEO Penny White.
Yield Growth is also looking into regulations which would allow it to sell its Urban Juve hand sanitizer in other countries where Urban Juve products are sold, including the United States.
In the spirit of gratitude, Urban Juve has also initiated a campaign to support frontline healthcare workers. The selfless dedication of the care aides, cleaners, kitchen staff, management and everyone involved with caring for the most vulnerable among us at this critical time, deserve recognition and gratitude. Urban Juve is presently delivering 500 products as a donation to several senior care facilities in the immediate area.
“The secret to crisis is empathy, ” says Bhavna Solecki, Yield Growth Director of Product Research. “Crisis management becomes a social responsibility of every company by taking meaningful steps and collective actions in decision making. When the extent of the pandemic crisis became apparent our team rallied to speed up the commercialization of our hand sanitizer. I am proud to be part of a team that is able to quickly leverage its knowledge and experience to research, develop and bring to market products that are of immediate necessity.”
Other related developments from around the markets include:
Clorox Co. (NYSE:CLX) announced that its board of directors has declared a quarterly dividend of $1.06 per share on the company’s common stock. The dividend is payable May 8, 2020, to stockholders of record as of the close of business on April 22, 2020. Clorox has a long history of providing value to its shareholders through regular dividend increases.
Kimberly Clark Corp. (NYSE:KMB) announced it has been recognized by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2020 World’s Most Ethical Companies. “At Kimberly-Clark, we are inspired to make lives better for people all around the world,” said Jeff Melucci, Kimberly-Clark’s General Counsel. “Being named to this list reflects the commitment of our global employees to our values of accountability and authenticity.” “We take pride in conducting business with the highest ethics and an unwavering commitment to doing the right thing in all that we do,” said Kurt Drake, Kimberly-Clark’s Chief Ethics & Compliance Officer. “Our high expectations for compliance allow us to earn the continued trust of our customers, consumers and shareholders.”
Huntsman Corp. (NYSE:HUN) announced it will begin making hydro alcoholic solution to produce hand sanitizer in the Swiss Canton of Vaud and the General Hospital in Lausanne, Switzerland. At its manufacturing site in Monthey, Switzerland, Huntsman will produce approximately 50 tons of hand sanitizer to donate free of charge to hospitals and pharmacies, which are now facing increasing shortages due to the COVID-19 pandemic and constrained supply of the product. The first shipment of five tons is expected to be delivered immediately. More production is planned to ensure a stable supply of between three tons and five tons per week as required to help safeguard medical staff, patients and the public. In recent weeks, Huntsman contributed its chemical products to the fight against the coronavirus COVID-19 in China. The company donated methylene diphenyl diisocyanate (MDI) to enable the manufacture of prefabricated polyurethane insulation panels for hospital construction, and TEROL® polyester polyols, ZEROSTAT® NW and PHOBOL® NW-MD, to manufacture personal protective equipment (PPE) for medical personnel fighting the coronavirus. “We are very humbled to be in a position to contribute what we do every day to help in the fight against the COVID-19 pandemic,” said Peter Huntsman, Chairman, President and CEO of Huntsman Corporation. “As this virus makes its way to every continent, we will continue to leverage our experience and knowledge in other regions, including the U.S.”
Kroger Co.’s (NYSE:KR) Board of Directors today declared a quarterly dividend of 16¢ per share to be paid on June 1, 2020, to shareholders of record as of the close of business on May 15, 2020. The company’s quarterly dividend has grown at a double-digit compound annual growth rate since it was reinstated in 2006. The company continues to expect, subject to board approval, an increasing dividend over time. Kroger’s capital allocation strategy is to use its free cash flow to invest in the business and drive profitable growth while also maintaining its current investment grade debt rating and returning capital to shareholders. The company actively balances the use of its adjusted free cash flow to achieve these goals.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media which has a partnership with www.MarijuanaStox.com is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media, which has a partnership with www.MarijuanaStox.com, is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement between Winning Media (partners of www.MarijuanaStox.com) and The Yield Growth Corp., Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for The Yield Growth Corp. We own ZERO shares of The Yield Growth Corp. Please click here for full disclaimer.
Airbnb gets US$1bn investment for post-virus recovery – CTV News
SAN FRANCISCO, UNITED STATES —
Airbnb on Monday announced it was taking a billion U.S. dollars in new investment to endure and, it hopes, thrive in a travel world transformed by the coronavirus pandemic.
Silver Lake and Sixth Street Partners will invest the money into the home-sharing platform in the form of debt and equity, according to Airbnb.
“While the current environment is clearly a difficult one for the hospitality industry, the desire to travel and have authentic experiences is fundamental and enduring,” Silver Lake managing partner Egon Durban said in a release.
“Airbnb’s diverse, global, and resilient business model is particularly well suited to prosper as the world inevitably recovers and we all get back out to experience it.”
The fresh resources will enable the San Francisco-based company to invest in its community of “hosts” as well as local experiences provided along with stays in homes, according to Airbnb co-founder and chief Brian Chesky.
Airbnb said it will focus particularly on long-term stays, from students needing housing to remote workers, building on a rising demand the platform has seen as people self-isolate during the pandemic.
Terms of the investment include putting $5 million into a Superhost Relief Fund for established, highly-rated hosts who need help with rent or mortgage payments due to the coronavirus’s devastating effects.
Airbnb employees started the fund with a million dollars, and the two co-founders contributed another $9 million, according to the company.
Airbnb is also helping hosts with financial losses after guests cancelled travel plans.
Carnival Stock Soars 20% on Saudi Investment and New Liquidity Assessment – Motley Fool
Embattled cruise line operator Carnival (NYSE:CCL) is sailing higher Monday after Saudi Arabia’s sovereign wealth fund disclosed a large stake in the company and analysts suggested it has sufficient liquidity to survive through November even if it’s unable to sail any ships.
The two new developments sent Carnival’s stock soaring almost 20% in morning trading.
Not quite smooth sailing
The Public Investment Fund, Saudi Arabia’s official investment vehicle, disclosed it owns 43.5 million Carnival shares, the equivalent of an 8.2% stake in the cruise line operator. It makes the Saudi government the third largest shareholder. Because the sovereign wealth fund share purchase increased its stake above a 5% threshold, it was required to disclose the holding.
Carnival was also bolstered by the news that even though it’s burning through about $1 billion a month, it has plenty of money to survive its cruise ships being idled in port, even under a worst-case scenario.
However, since Wells Fargo analysts see a more favorable scenario developing with at least some of its ships being able to sail again this summer, it foresees Carnival coming out of the coronavirus pandemic in a much better position than many believed. Wells Fargo does see Carnival’s profits taking a hit, with operating cash flow turning negative to the tune of about $2.2 billion this year versus a $5.7 billion in positive cash flow last year.
Carnival raised $6.25 billion in debt and equity last week to make it through the downturn. It also suspended its dividend and halted stock buybacks to preserve cash.
FIRM CAPITAL MORTGAGE INVESTMENT CORPORATION PROVIDES UPDATE ON APRIL 1ST PAYMENT STATUS OF THE INVESTMENT PORTFOLIO – GlobeNewswire
TORONTO, April 06, 2020 (GLOBE NEWSWIRE) — Firm Capital Mortgage Investment Corporation (the “Corporation”), (TSX: FC) discloses that, with the passing of the April 1st payment due dates on its Investment Portfolio, there have been no material increases in terms of arrears since March 1, 2020.
We would like to assure shareholders that the Corporation has been taking proactive action to mitigate the impact of the COVID-19 situation and that at present, even during these challenging times, loan arrears in the Corporation’s Investment Portfolio are not materially different than as at March 1, 2020, and that new defaults after January 1, 2020 are part of normal business operations and not as a result of the COVID-19 situation:
- Of the 111 pre-authorized payments submitted on April 1, 2020; six payments were returned NSF, of which five were replaced, leaving one outstanding payment relating to an investment representing 0.4% of the Investment Portfolio. Management has been in negotiations to resolve it;
- Three payments were not received, all relating to one borrower on three investments, representing 1.4% of the Investment Portfolio. That same borrower has historically always paid by month end. Management is not concerned given the loan-to-value exposure; and
- Management has been managing and addressing seven loans which are currently under legal workouts initiated before April 1, 2020, with one loan being sold under enforcement proceedings, closing April 30, 2020 with the full repayment of principal and interest.
The Corporation’s Mortgage Banker minimizes risks associated with defaulting mortgages through diligent monitoring of the Investment Portfolio, active communication with borrowers and the implementation of appropriate and timely enforcement procedures on defaulted mortgages. The Mortgage Banker has substantial experience in servicing mortgage loans, including the implementation of enforcement proceedings.
Thank you for your continued support!
ABOUT THE CORPORATION
Where Mortgage Deals Get Done®
The Corporation, through its mortgage banker, Firm Capital Corporation, is a non-bank lender providing residential and commercial short-term bridge and conventional real estate financing, including construction, mezzanine and equity investments. The Corporation’s investment objective is the preservation of shareholders’ equity, while providing shareholders with a stable stream of monthly dividends from investments. The Corporation achieves its investment objectives through investments in selected niche markets that are under-serviced by large lending institutions. The Corporation is a Mortgage Investment Corporation (MIC) as defined in the Income Tax Act (Canada). Accordingly, The Corporation is not taxed on income provided that its taxable income is paid to its shareholders in the form of dividends within 90 days after December 31 each year. Such dividends are generally treated by shareholders as interest income, so that each shareholder is in the same position as if the mortgage investments made by the company had been made directly by the shareholder. Full reports of the financial results of the Corporation for the year are outlined in the audited financial statements and the related management discussion and analysis of Corporation, available on the SEDAR website at www.sedar.com. In addition, supplemental information is available on Corporation’s website at www.firmcapital.com.
The Corporation has provided the above information in response to various enquiries received from shareholders and other stakeholders. Unless otherwise required by applicable securities laws, the Corporation does not intend, nor does the Corporation undertake any obligation, to update or revise any information contained in this press release or to provide any additional information, similar or otherwise, to reflect subsequent periods, information, events or circumstances, or otherwise.
For further information, please contact:
Firm Capital Mortgage Investment Corporation
President & Chief Executive Officer
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