U.S. counts more than 1,000 COVID-19 fatalities for a fourth straight day
The coronavirus illness COVID-19 claimed another 1,100 lives in the U.S. in a single day to push the death toll above 145,000 on Saturday, marking a fourth straight day of more than a 1,000 U.S. fatalities, the first time that has happened since May when an average of 2,000 people died a day.
Forty-two states and territories have seen rising cases in the last 14 days, according to a New York Times tracker, led by Louisiana, Mississippi and Alabama. Louisiana Gov. John Bel Edwards told reporters at a briefing that his state is nearing breaking point after its case tally rose above 100,000.
The face mask issue continued to be a thorny issue with the American public with legal challenges against mandates extending to Oregon on Thursday, when conservative group Freedom Foundation filed a suit against Gov. Kate Brown. Brazil is second to the U.S. with 2.3 million cases and 85,238 deaths. Brazilian President Jair Bolsanaro, who has been criticized for his blasé approach to the pandemic, said Saturday that he has tested negative for COVID-19, just weeks after testing positive, the Guardian reported.
Economists polled by MarketWatch had expected a June sales rate of 710,000, compared with an original May estimate of 676,000. On Friday, the government revised May’s rate to 682,000. That pushed the May rise in new home sales to 19.4% “The lack of growth is a disappointment,” said Chris Williamson, chief business economist at IHS Markit.
Verizon Communications VZ, +1.79% beat on profit and revenue but its report showed negative impacts from the pandemic. The wireless operator estimates that both GAAP and adjusted EPS saw negative impacts of about 14 cents stemming from impacts to wireless service revenue and lower advertising and search revenue for Verizon’s media unit.
• Boston Beer Co. SAM, +25.65%, maker of Sam Adams and other alcoholic beverages, reported an unexpected doubling of profit from the year before amid the pandemic. Chief Executive Dave Burwick credited “increases in our Truly Hard Seltzer and Twisted Tea brands and the addition of the Dogfish Head brands” for some of the demand gains. Boston Beer now expects full-year earnings of $11.70 to $12.70 a share, while analysts on average had forecast 2020 earnings of $9.84 a share.
• Toy maker Mattel Inc. MAT, -2.49% reported a narrower-than-expected second-quarter loss and sales that were higher than Wall Street expected, thanks to sales in North America and total sales of Barbie and other dolls and games. Online sales “continued to grow strongly in all regions.” Gross sales in North America increased 3%, primarily on sales of Barbies as well as action figures, building sets, and games, the company said.
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