Organigram Holdings announced the temporary layoff of approximately 45% of its workforce primarily to help boost COVID-19 containment efforts representing approximately 400 employees. COVID-19, some administrative, support and other functions were deemed non-essential to the short-term needs of the business. The temporary layoffs were initiated on March 24, 2020 and the Company will continuously monitor the evolving situation. Lump-sum payments will be paid to the affected employees to help bridge the gap to available government programs. In addition, the company will absorb the employee paid portion of health, dental and short-term disability premiums for all employees during this difficult time.

Corporacion America Airports said that its operations have been severely impacted by the introduction of the flight restrictions related to the coronavirus outbreak as well as flight bans in many other countries worldwide. Passenger traffic in the company's Italian operations started to decline late February, while its airports in Latin America were impacted starting the second week of March. According to preliminary operational figures, CAAP's passenger traffic was down by approximately 12% YoY in the first week of March, declined further to around 18% in the second week, deteriorating to a drop of nearly 60% in the third week and over 90% in the fourth week of March. For the whole month, preliminary traffic is estimated to have declined approximately 45% YoY. Note that these preliminary figures may be subject to adjustments. A crisis committee was set in place, composed of the Company's CEO and operating CEOs of each subsidiary to assess operations, focused on enhancing the sustainability of the company's business. In addition, CAAP has developed a four-pronged strategy and implemented a number of actions aiming to mitigate the negative impact of the COVID-19 virus. The company has further enhanced safety and hygiene protocols across the company's airports to protect the well-being of passengers and operating personnel. For essential staff working on premises, health gear was provided and additional sanitizing policies established. The company has also established remote working when possible. CAAP has introduced reductions in operating costs by: Reducing personnel expenses including salary reductions, suspension of salary increases and freezing new hiring, mandatory use of pending vacations and/or advancing vacations to employees when possible, placing operating employees on furlough in certain geographies. In Italy and Uruguay, employees under furlough are receiving government unemployment subsidies. It is also reducing maintenance and other operating expenses while maintaining the quality and safety standards, required to support the minimum level of operations. As a result of these combined measures, the company expects total cash operating costs and expenses excluding concession fees to decrease by approximately 43% under this crisis scenario. This target reduction is based on current company estimates for 2Q20 and actual 2Q29 figures ex-IAS29. In relation with concession fees, all of the Company's operations are under a variable concession fee regime, with the exception of its Brazilian concessions, which are also subject to a fixed concession fee. The Company is also aggressively managing working capital by negotiating with its suppliers the extension of payment terms and reducing its capex program. The company noted that it has started discussions with regulatory agencies to renegotiate concession fees payments to align to the current environment.

IQVIA announced its new technology-enabled COVID-19 Trial Matching Tool at c19trials.com, which is "one of the world's first online platforms that matches individuals with specific COVID-19 studies to accelerate clinical research projects." This solution combines publicly available information, IQVIA data and tools, and an algorithmic logic that generates a questionnaire dependant on previous responses to match patients and investigators to accelerate ongoing COVID-19 clinical research projects within the U.S.

This is the 5th consecutive increase and the highest level of holdings since June of 2013.

According to the firm's 2019 annual report, Pershing Square said it has increased its stakes in Agilent (A) by 16%, Berkshire Hathaway (BRK.A) by 39%, Hilton (HLT) by 34%, Howard Hughes (HHC) by 158%, Lowe's (LOW) by 46%, and Restaurant Brands (QSR) by 26%. The company said it has also reestablished a 10% of capital position in Starbucks (SBUX). If its portfolio companies grow in value and their stock prices increase over the long term as it expects, the long-term returns for PSH will be substantially greater than before as a result of the reinvestment of the proceeds from the hedging transactions, the company said. Reference Link

"Airbnb announced that Silver Lake and Sixth Street Partners will invest $1 billion in Airbnb in a combination of debt and equity securities. The new resources will support Airbnb's ongoing work to invest over the long term in its community of hosts who share their homes and experiences, as well as the work to serve all stakeholders in the Airbnb community. The desire to explore, connect, have new experiences, and have a comfortable place to call home are universal and enduring. And our commitment to create a greater sense of belonging-for everyone, everywhere-will never change," said Airbnb in a statement. Publicly traded companies in the hotel or lodging space that "Airbnb operates in include: Choice Hotels (CHH), Hilton (HLT), Hyatt (H), InterContinental (IHG), Marriott (MAR), Starwood (HOT) and Wyndham (WYN). URL

The Cato Corporation announced it will extend the closure of all brick and mortar stores, until further notice. Company management will continue to assess the situation, market by market as additional guidance is issued from U.S. and local governments, as well as the Centers for Disease Control, as it develops its plan to reopen stores at a future date. As a result of the extended store closure, coupled with the North Carolina's "Stay-at-Home" Executive Order impacting the Home Office, Cato has temporarily furloughed its store associates, a majority of distribution center associates, as well as additional corporate associates, whose work has been significantly reduced by the store closures. At this time, those impacted will continue to receive enrolled benefits. As part of the business response to COVID-19, the company has taken the following actions to protect our financial position during these challenging times: Temporarily discontinued monthly sales releases, until further notice; Temporarily suspended the quarterly dividend; Suspended hiring and eliminated all merit raises for 2020; Drew down $30 million from our $35 million line of credit, in an effort to protect cash reserves; Significantly decreased capital expenditures; Delayed or cancelled some planned new store openings; Continue to review non-payroll expenses across the business; Managing inventory by aggressively cancelling and/or delaying merchandise to better align with anticipated sales; Evaluating extending payment terms for vendor invoices and suspending rent payments; Temporarily reduced CEO salary by 50%; Temporarily reduced Board fees by 50%; Temporarily reducing other associates salaries by 25%, however not below $55,000.