Wall Street, after surge, takes a breather; more furloughs

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Monday related to the global economy, the work place and the spread of the virus.

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BOTTOM LINE: Hundreds of companies have withdrawn all financial projections for the year given the unprecedented disruption to the economy and to consumers. But details of the extent of the damage are beginning to surface.

— Ford Motor Co. expects to post a $600 million first-quarter pretax loss and said Monday that it has enough cash to get through the end of September even if vehicle production doesn’t resume.

The Detroit automaker is considering a phased restart of its factories sometime in the second quarter with enhanced safety standards. Only Ford’s joint venture in China is producing vehicles right now.

The company suspended its dividend and drew $15.4 billion from two credit lines to bolster cash reserves. Restarting factories is important for automakers, which book revenue when vehicles are shipped from factories to dealerships.

GROWING VIRTUAL CHECKOUT LINES: Beginning Monday, Amazon will ask anyone signing up for deliveries from Amazon Fresh or Whole Foods Market delivery to sign up for an invitation to use the service. The crush isolated home-grocery shoppers has created a shortage of delivery slots available despite a 60% increase in capacity put into place by Amazon since the outbreak.

LOST: With a startling 6.6 million people seeking jobless benefits last week, the United States has reached a grim landmark: Roughly one in 10 workers have lost their jobs in just the past three weeks. And companies continue to shed jobs.

— Disney will furlough 43,000 union workers, beginning Sunday. The Service Trades Council Union...