Earnings season: Intel, Eli Lilly, Unilever, Hermès International, Schneider Electric, Vinci, Pernod Ricard, Atlas Copco, Dassault Systèmes, Volvo, Credit Suisse Group and Worldline are among companies reporting their earnings today.

Delta to raise $3bn. Delta Air Lines is going to proceed with a capital increase to raise $3 billion through debt issues and by concluding a new credit facility to combat the slowdown in demand due to the coronavirus crisis.

Oil companies hit hard. Marathon Petroleum, the leading U.S. oil refiner, expects to record a loss in the first quarter due in particular to a $7.8 billion write-down due to the drop in demand.

Drastic measures needed. Gap said that its cash position may not be sufficient to manage its operations over the next 12 months and that cost reductions and a capital increase would be necessary in the face of the shock caused by the coronavirus.

Rumor and denial. Vonovia is reportedly considering a takeover of Deutsche Wohnen, Bloomberg has learned, four years after it failed to create a German real estate colossus. In response to the rumors, Vonovia issued a brief press release this morning explaining that if the group were to keep an eye on the issues that might be of interest to it, a number of prerequisites would be required, including political support in Berlin and the disappearance of the Covid-19 threat. A denial... which might be temporary.

On the car front. Daimler warns that its turnover and results in 2020 will be lower than in 2019, which will not surprise many people. The manufacturer saw its operating profit falling by 78% in the first quarter of 2020, to 617 M€. Detailed figures are expected on April 29. The German group began this week to restart certain production sites in Europe.

Fewer jobs at Boeing? Boeing could cut around 7,000 jobs, the equivalent of 10% of its workforce in civil aviation, in response to the current crisis, AFP has learned. The group simply replied that it is currently proposing a voluntary redundancy plan. Announcements could be made during the day, although the manufacturer could wait until April 29, the date of publication of its first-quarter results, to broach the subject.

Ongoing discussions in the U.S. auto sector. In the United States, General Motors, Ford and Fiat Chrysler are continuing their discussions with the UAW union with a view to resuming production. The trio hopes to resume production starting in early May. "Discussions are fluid and are continuing to ensure that health protocols will be applied when the companies reopen," said the union president.

In other news. Glencore will delist its subsidiary Katanga Mining from the Toronto Stock Exchange. Sycamore Partners is seeking to cancel the purchase of Victoria's Secret from L Brands. Casino operator Las Vegas Sands in Q1 losses. Royal Caribbean is seeking new financing to survive coronavirus. Alcoa gives up its forecast and preserves its liquidity. Just Eat Takeaway increases its capital by 400 M€ and issues 300 M€ of bonds. Dufry renounces its dividend and its objectives and wants to strengthen its capital. Credit Suisse's profits rise sharply in the first quarter, but the rest looks more complicated.