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Big Stores Hold Off Reopening As States Ease Restrictions P2JW116000-7-A00100-17FFFF5178F Reopening theU.S. EconomyEvenif ThePandemic Endures REVIEW Flowers to Power WSJ Yo ur Garden THE WALL STREETJOURNAL WEEKEND OFF DUTY ******* SATURDAY/SUNDAY,APRIL 25 -26, 2020 ~VOL. CCLXXV NO.97 WSJ.com HHHH $5.00 AT&T What’s News Chief to Retireat World-Wide TheEnd he FDAsaid two ma- Tlaria drugstouted by Trump and some doctorsfor Of June use against the coronavirus arelinked to heart problems and should only be used on Stankey to take reins hospitalized patientsoras part of clinical trials. A1 from Stephenson just Health experts and the as new streaming maker of Lysol issued warn- ingsafter Trump speculated service set to launch about using disinfectants inside the body,comments BY DREW FITZGERALD that he later walked back. A6 AT&T Inc. Chief Executive TheU.S.death toll from JOURNAL Randall Stephenson said he the coronavirus surpassed would step aside at the end of 50,000 as some states be- REET ST June, handing leadership of one ganreopening partsoftheir LL of the world’slargest media economies.Trump signed WA and telecommunications com- stimulus legislation. A5 THE panies to alongtime deputy R Esper told Navy officials FO amid the coronavirus pandemic. that he wasn’t ready to sign N Companyveteran John TO off on arecommendation Stankey will succeed Mr. Ste- MEL to reinstatethe USS Theo- A phenson, whoturned 60 this DR doreRoosevelt’scaptain. A3 AU week.Mr. Stephenson has A barber worked with a client in Decatur, Ga., on Friday, after the state permitted many businesses to reopen. spent most of his 13 years as Trump indicated he plans chairman and CEO piecing to- to use acoronavirus-relief gether a modern media busi- lawasleveragetoforce the ness by scooping up DirecTV Postal Servicetoraise rates Big Stores Hold Off Reopening and then Time Warner,remak- forpackagedelivery. A2 ing the telephone company Online donations to that launched his career. Democratic candidates and He had long been preparing causes dropped off in the As States Ease Restrictions to retireatsome point this latter part of March. A4 year but in October said he would remain in charge America’sallies have through “at least” 2020 after been reluctant to fill the gap Even as Georgia becomes dersorcurbside pickup. an activist investor challenged leftbythe U.S. decision to the firstinanumber of states By Heather Haddon, Big chains saytheir phased his strategy. Afteratruce was halt funding forthe WHO. A7 settorestart their economies Sarah Nassauer reopening plans will rely on THE brokered, the succession plan- The pandemic has dealt after coronavirus closures, and Esther Fung stateand local guidelines,along CORONAVIRUS ning proceeded, setting the a blow to the Catholic manybig companies remain with infection rates, their owN scene for the 57-year-old Mr. Church’sfinances,threaten- hesitant to open their doors. their doorsclosed. market analysis and consumer PANDEMIC Stankey to take over as CEO ing itscharitable activities. A7 With the reported U.S. death Regardlessofstate orders, surveys. Manylarge retail loca- just as the company’snew toll from the pandemic surpass- Macy’sInc., Gap Inc.and TGI tions aren’t profitable if the streaming service, HBO Max, Business&Finance ing 50,000 on Friday, some Fridays Inc.are among big na- number of shoppers who caN Testsmeasureefficacy is slated to launch. states have begun lifting re- tional chains saying they would safely enter is restricted to just of homemade masks, A2 “John will be an outstand- strictions that kept manynon- sit out the early phase of re- ahandful of people,consultants Producing mac and cheese ing CEO forthis company, and Manynational chains essential businesses closed. In opening,citing health concerns say. at asafedistance, A5 Icouldn’t be moreconfident say they will sit out the Georgia, officials on Fridayal- and uncertain customer demand. Retailers that have opened or pleased in passing him the Warnings about internal use early phase of reopenings lowedbusinessesssuch as bar- Other businesses,including Best areworking to reassureshop- baton,” Mr.Stephenson said of of disinfectants, A6 as states ease restrictions, ber shops,bowling alleysand Buy Co.and Starbucks Corp., pers. Dick’sSporting Goods Inc. his successor in avideo to citing health concerns and gyms to open, although many will also continue in lockdown opened some stores this past Pandemic squeezes Catholic AT&T’s staff. uncertain demand. A1 acrossmorepopulous areas mode,keeping stores closed to week in South Carolina, Iowa, Church finances, A7 Mr.Stankey,likethe man he such as metroAtlantakept shoppersand fulfilling online or- PleaseturntopageA5 PleaseturntopageA12 AT&T chief Stephenson said he would retireatthe end of June,handing leader- ship of the media and tele- Banks Make Weak Fed Partner communications giant to Behind Oil-Price Gyrations, Changes sincethe financial crisis mean banks arelessable to longtime deputy Stankey. A1 move moneythrough the economy, including by lending. B1 Thepandemic is expected to delaythe return of Boeing’s Nonbank lendersdominate $30 billion AFrantic Searchfor Storage 737MAX until at least late consumer loans. summer or early fall, adding to Consumer-loan value the firm’sfinancial strain. B1 Online-only Stranded tankers lurk offshore as refineries close, producers struggle TheFCC ordered four Other nonbank Chinese state-owned tele- Credit union 20 communications operators BY BENOIT FAUCONAND DAVID HODARI tion system. Oil markets broke down this to explain whyitshouldn’t Bank week as buyers vanished for lack of storage revoke their U.S. licenses. A3 During his daily stroll along Southern Cal- space. At one point, the squeeze was so in- U.S. stocks rose, with the ifornia’s Seal Beach, film-industry executive tense, sellers with oil at a key U.S. delivery Dowadding 1.1%, but all three Josh Haynie usually sees little but surfers point in Cushing, Okla., were paying buyers 10 major indexeslost ground for and the occasional marine mammal. to take the stuff off their hands. the week aftertwo consecu- These days the vista also includes around Prices have since stabilized a bit and were tiveweeks of big gains. B11 20 oil tankers. trading Friday afternoon at around $16 a He worries the interlopers could collide barrel for the U.S. benchmark. But storage at Facebook is rolling out with the private yachts that ply these wa- Cushing is on track to be fully in use by mid- anew video-chat feature to ters. “We are not Galveston, Texas,” he says. May, threatening similar price drops if buy- rival Zoom, part of asuite 0 The world may have to get used to oil ers can’t find alternatives. of newofferingsaimed at 2010 ’11 ’12 ’13 ’14 ’15 ’16 ’17 ’18 ’19 turning up in unusual places. An enormous The math is unforgiving. The world nor- homebound users. B3 Source:TransUnion glut of crude sparked by the coronavirus mally produces 100 million barrels of oil a AmEx morethan tripled pandemic and the resulting collapse in de- day. With much of the industrialized world itsprovision forcredit mand has overwhelmed the global distribu- PleaseturntopageA10 losses and itsCEO said the pandemic weighed on cardholder spending. B3 ForAdultsBunking With Parents, EXCHANGE Verizon said that the FDA Warns of Danger pandemic slowedits core Pandemic Brings Flashbacks wirelessbusinessinthe iii March quarter. B3 From Virus Treatment Mom and Dad eavesdrop on video calls; BY THOMAS M. BURTON virus,the drugsare oftenused NOONAN ‘like I am at home on summer break’ AND JARED S. HOPKINS with the antibiotic azithromy- WhatComes After cin—a combination that could WASHINGTON—TheFood cause heart problems,apanel The Covid Storm? A15 BY JENNIFER CALFAS with his parents, who areex- and Drug Administration convened by the U.S. National cited to have him. warned that two malaria Institutes of Health has BeforeBradMalone starts “Itfeels likeIamathome drugs touted by President warned. CONTENTS Markets..................... B11 Books..................... C7-12 Obituaries............... A12 his 9:15 a.m. call forwork each on summer break in middle Trump and some doctorsfor Thousands of Covid-19 pa- Business News...... B3 Opinion.............. A13-15 day, his parentsoffer some school,” said Mr.Malone,who treating the new coronavirus tientsworld-wide have signed Design &Decor.D5,8-9 Sports........................ A16 wordsofencouragement. afew weeks agodrove about arelinked to serious heart up forstudies exploring Food......................... D6-7 Style & Fashion D2-3 “Traffic shouldn’t be too 45 miles from his condo in At- problems and should only be whether antimalaria drugs Gear &Gadgets D11-12 U.S. News............. A2-3 Heard on Street...B12 Weather................... A16 bad,” they quip from the lantatoride out the coronavi- used on hospitalized patients fight off infections of the new kitchen table. ruspandemic with his parents. or as part of clinical trials. coronavirus,according to a The32-year-old nowlogs “Being 32 and under your Thechemically similar Wall Street Journal review of > intowork at the Georgia Tech parents’ roof—it’sstrange,” he drugshydroxychloroquine and aclinical-trial database,and BEER GLUT Athletic Association from the said. chloroquine pose heart- thousands moreare taking the Amillion unsold kegs room in which he grew up Young adultsaround the rhythm dangers, including the pills as part of their treat- posea$1billion playing videogames,athis par- countryhavefled to their par- too-fast heartbeat called ven- ment. ents’ house in Loganville,Ga. ents’ homes amid the pan- tricular tachycardia, the FDA Researchershavedrawn up problem that’srippling s 2020 Dow Jones & Company, Inc. All Rights Reserved Hisdaily commuteconsistsof demic,returning to childhood said. In treating Covid-19, the plans to enroll about 200,000 acrossindustries B1 awalk upstairsafter breakfast PleaseturntopageA10 disease caused by the corona- PleaseturntopageA6 P2JW116000-6-A00200-1--------XA A2 | Saturday/Sunday, April 25 - 26, 2020 ****** THE WALL STREET JOURNAL. U.S. NEWS THE NUMBERS | By Jo Craven McGinty TestsMeasureHomemade Masks’ Efficacy Even before Respiratorsare made of Percentage of particles thesizeofthe coronavirus blocked by sures 0.12 micron.
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