Earnings season. Coca-Cola saw its revenues fall by 1% in Q1 and expects a much stronger impact in the second quarter. Lockheed Martin has exceeded expectations but is revising its 2020 ambitions. JM Smucker raised its forecast thanks to strong demand for food products. Philip Morris disappointed on his forecast. Netflix, SAP SE, Texas Instruments, Kering, Danone and Adyen are among companies reporting their earnings today.

To the rescue. The US Treasury has announced that it has reached agreements with the country's major airlines (American Airlines, Delta Air Lines, Southwest Airlines, Spirit Airlines, United Airlines and Allegiant Air) as part of the support plan to get through the Covid-19 crisis.

IBM is waiting for a clearer picture. International Business Machines joins the list of companies that are withdrawing their 2020 forecasts. The IT giant posted results close to expectations in the first quarter, with revenues of $17.57bn (down) and an adjusted net profit of $1.81 per share. The market is not really surprised, as shown by the 0.9% contraction in the share price after the close of trading, in reaction to these figures.

It was written. Australia's second largest airline, Virgin Australia, is going through a suspension of payments to reorganize itself. The current management team will continue to run operations, while the international and domestic flights already scheduled are maintained. The company employs approximately 10,000 people. Recently, rumours have been circulating about the entry of investors into the capital.

SAP changes heads. SAP SE is abandoning its dual executive model six months after it was set up, with the departure of co-CEO Jennifer Morgan and the confirmation of Christian Klein as sole CEO. The American citizen was the first woman to reach such a senior position in the company. The decision "was taken earlier than expected in order to ensure strong and unambiguous leadership in a time of unprecedented crisis". At this stage, no further explanation of the divorce is given. At the same time, the German software giant announced an increase in its first quarter results.

The American oil sector will take a hit. Not only the majors such as Exxon Mobil or Chevron, but above all the shale oil specialists (Apache, ConocoPhillips, Occidental Petroleum) and subcontractors (Schlumberger, Halliburton).

New phase of expansion. Apple will launch its App Store and Apple Music services in new countries, especially in Africa and the Middle East.

In other news. General Electric has signed a $15 billion revolving credit with its banks. Hertz will cut 10,000 jobs in North America in response to the crisis. Starbucks will launch a new vegetarian menu in China, based on Beyond Meat products. Nissan will close its headquarters and other locations in Japan until mid-May because of the coronavirus. Jungfraubahn will waive the dividend for 2019 because of coronavirus. Singapore opens an investigation into the losses of Hin Leong Trading. Temenos wins a contract in Yemen.