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3900.0
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2022-01-03 00:00:00 UTC
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Why Airline Stocks Are Flying High Today
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AAL
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https://www.nasdaq.com/articles/why-airline-stocks-are-flying-high-today
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nan
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nan
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What happened
Wall Street is taking an upbeat view toward airlines at the start of the new year, and the stocks are responding by gaining altitude. Shares of American Airlines Group and United Airlines Holdings each climbed as much as 6% on Monday, while shares of Delta Air Lines (NYSE: DAL), JetBlue Airways (NASDAQ: JBLU), and Spirit Airlines (NYSE: SAVE) each climbed nearly 5%.
So what
We know 2020 was a miserable year for the airline industry. While 2021 showed some signs of a recovery, the pandemic is still weighing on the stocks. There's hope 2022 will usher in better days, and that optimism is reflected in Monday's trading.
Image source: Getty Images.
In a note out Monday, Citi analyst Steve Trent called the omicron variant a "modest" risk to the sector, saying, "This is not 2020" all over again. Passenger counts plummeted in the early days of the pandemic, causing airlines to borrow money to stay afloat and putting the entire industry in crisis.
Conor Cunningham of MKM Partners offered a similar upbeat message in a separate note, saying he sees clearing skies up ahead despite the near-term pressures caused by omicron.
Trent called Frontier Airlines (NASDAQ: ULCC) and Delta his top picks heading into 2022. Cunningham, meanwhile, called Delta his top pick and Alaska Air Group (NYSE: ALK) an honorable mention.
There's reason for optimism for all airline investors. Cunningham expects international and corporate business to make a surprise recovery in 2022, which would impact not just Delta, but American and United, as well. If omicron fades quickly and domestic-travel flows are allowed to continue, discounters like Spirit and JetBlue should benefit from strong spring-break and summer travel seasons.
Now what
We're headed in the right direction, but it's going to take time to get there. Investors with a long-enough time horizon have every reason to be optimistic, but as we've learned over the last few years, the recovery is full of turbulence. Even if the analysts are right about omicron, we can't say for sure that there won't be future variants that cause fresh concerns in the months to come.
I'm bullish long term on travel demand, and Delta is a solid choice as a top pick. The airline was arguably the best-run U.S. carrier prior to the pandemic and has a good mix of international and domestic routes and a more flexible labor structure to help it benefit from an eventual recovery.
But investors should be mindful that this is still a multiyear process, and we're not out of the woods yet. It remains a dangerous time to be invested in airlines.
10 stocks we like better than Delta Air Lines
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Lou Whiteman owns Delta Air Lines and Spirit Airlines. The Motley Fool owns and recommends Spirit Airlines. The Motley Fool recommends Alaska Air Group, Delta Air Lines, and JetBlue Airways. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Passenger counts plummeted in the early days of the pandemic, causing airlines to borrow money to stay afloat and putting the entire industry in crisis. Conor Cunningham of MKM Partners offered a similar upbeat message in a separate note, saying he sees clearing skies up ahead despite the near-term pressures caused by omicron. The airline was arguably the best-run U.S. carrier prior to the pandemic and has a good mix of international and domestic routes and a more flexible labor structure to help it benefit from an eventual recovery.
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Shares of American Airlines Group and United Airlines Holdings each climbed as much as 6% on Monday, while shares of Delta Air Lines (NYSE: DAL), JetBlue Airways (NASDAQ: JBLU), and Spirit Airlines (NYSE: SAVE) each climbed nearly 5%. Cunningham, meanwhile, called Delta his top pick and Alaska Air Group (NYSE: ALK) an honorable mention. The Motley Fool recommends Alaska Air Group, Delta Air Lines, and JetBlue Airways.
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Shares of American Airlines Group and United Airlines Holdings each climbed as much as 6% on Monday, while shares of Delta Air Lines (NYSE: DAL), JetBlue Airways (NASDAQ: JBLU), and Spirit Airlines (NYSE: SAVE) each climbed nearly 5%. 10 stocks we like better than Delta Air Lines When our award-winning analyst team has a stock tip, it can pay to listen. See the 10 stocks *Stock Advisor returns as of December 16, 2021 Lou Whiteman owns Delta Air Lines and Spirit Airlines.
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So what We know 2020 was a miserable year for the airline industry. There's reason for optimism for all airline investors. The Motley Fool recommends Alaska Air Group, Delta Air Lines, and JetBlue Airways.
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3901.0
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2022-01-03 00:00:00 UTC
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Verizon, AT&T to delay 5G deployment, averting aviation standoff
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AAL
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https://www.nasdaq.com/articles/verizon-att-to-delay-5g-deployment-averting-aviation-standoff
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nan
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nan
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By David Shepardson
WASHINGTON, Jan 3 (Reuters) - Verizon Communications VZ.N and AT&T Inc T.N said late on Monday they had agreed to a two-week delay in deploying C-Band wireless spectrum, averting an aviation safety standoff that threatened to disrupt flights starting this week.
The carriers had faced pressure from the White House, airlines and aviation unions to delay the deployment amid concerns about potential interference of 5G with sensitive aircraft electronics like radio altimeters that could disrupt flights.
The agreement pushes back the deployment date to Jan. 19. Verizon said the delay "promises the certainty of bringing this nation our game-changing 5G network in January." AT&T said it agreed to the delay at the request of Transportation Secretary Pete Buttigieg.
"We know aviation safety and 5G can co-exist and we are confident further collaboration and technical assessment will allay any issues," the company said.
Over the next two weeks, regulators, airlines and wireless carriers will look at ways of minimizing the potential impact of interference on flight operations.
Earlier on Monday, groups representing U.S. airlines, aircraft manufacturers and airports had urged the White House to intervene to delay the use by wireless carriers of C-Band spectrum for 5G, which the carriers won in an $80 billion government auction.
The delay came after the chief executives of AT&T and Verizon on Sunday had rejected a request to delay the planned Jan. 5 introduction of new 5G wireless service over aviation safety concerns but offered to temporarily adopt new safeguards.
Buttigieg and Federal Aviation Administration chief Steve Dickson had asked AT&T CEO John Stankey and Verizon CEO Hans Vestberg on Friday for a delay of up to two weeks.
In December, the FAA warned that interference from the planned use of 5G wireless spectrum posed an air safety risk and could result in flight diversions. But it had not yet issued formal notices that would further outline the potential scale of impact.
Sara Nelson, president of the Association of Flight Attendants-CWA, which represents 50,000 flight attendants at 17 airlines, had said on Twitter that "if medicine delivered to hospitals and homes is delayed" Verizon would be responsible.
"If passengers are stranded, thank @Verizon," Nelson said. "Their incentive is money. Our incentive is safety. It’s the purest form of profits over people."
The wireless companies Sunday said they would not deploy 5G around airports for six months but rejected any broader limitation on using C-Band spectrum. That exclusion zone around airports is not as large as the FAA wants.
The Trade group Airlines for America, representing American Airlines AAL.O, FedEx FDX.N and other carriers, had asked the Federal Communications Commission to halt deployment around many airports, warning thousands of flights could be disrupted daily.
(Reporting by David Shepardson Editing by Leslie Adler)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Trade group Airlines for America, representing American Airlines AAL.O, FedEx FDX.N and other carriers, had asked the Federal Communications Commission to halt deployment around many airports, warning thousands of flights could be disrupted daily. By David Shepardson WASHINGTON, Jan 3 (Reuters) - Verizon Communications VZ.N and AT&T Inc T.N said late on Monday they had agreed to a two-week delay in deploying C-Band wireless spectrum, averting an aviation safety standoff that threatened to disrupt flights starting this week. The carriers had faced pressure from the White House, airlines and aviation unions to delay the deployment amid concerns about potential interference of 5G with sensitive aircraft electronics like radio altimeters that could disrupt flights.
|
The Trade group Airlines for America, representing American Airlines AAL.O, FedEx FDX.N and other carriers, had asked the Federal Communications Commission to halt deployment around many airports, warning thousands of flights could be disrupted daily. The carriers had faced pressure from the White House, airlines and aviation unions to delay the deployment amid concerns about potential interference of 5G with sensitive aircraft electronics like radio altimeters that could disrupt flights. Earlier on Monday, groups representing U.S. airlines, aircraft manufacturers and airports had urged the White House to intervene to delay the use by wireless carriers of C-Band spectrum for 5G, which the carriers won in an $80 billion government auction.
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The Trade group Airlines for America, representing American Airlines AAL.O, FedEx FDX.N and other carriers, had asked the Federal Communications Commission to halt deployment around many airports, warning thousands of flights could be disrupted daily. By David Shepardson WASHINGTON, Jan 3 (Reuters) - Verizon Communications VZ.N and AT&T Inc T.N said late on Monday they had agreed to a two-week delay in deploying C-Band wireless spectrum, averting an aviation safety standoff that threatened to disrupt flights starting this week. The carriers had faced pressure from the White House, airlines and aviation unions to delay the deployment amid concerns about potential interference of 5G with sensitive aircraft electronics like radio altimeters that could disrupt flights.
|
The Trade group Airlines for America, representing American Airlines AAL.O, FedEx FDX.N and other carriers, had asked the Federal Communications Commission to halt deployment around many airports, warning thousands of flights could be disrupted daily. Over the next two weeks, regulators, airlines and wireless carriers will look at ways of minimizing the potential impact of interference on flight operations. The delay came after the chief executives of AT&T and Verizon on Sunday had rejected a request to delay the planned Jan. 5 introduction of new 5G wireless service over aviation safety concerns but offered to temporarily adopt new safeguards.
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3902.0
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2022-01-03 00:00:00 UTC
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Aviation groups ask White House to intervene in 5G safety dispute
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AAL
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https://www.nasdaq.com/articles/aviation-groups-ask-white-house-to-intervene-in-5g-safety-dispute
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nan
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nan
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WASHINGTON, Jan 3 (Reuters) - Groups representing U.S. airlines, aircraft manufacturers and airports urged the White House late on Monday to intervene to delay the use by wireless carriers of C-Band spectrum for 5G, which they warn could cause dramatic disruptions for air travel.
"Time has run out and it’s imperative that the White House intervene today to delay the imminent rollout of C-band 5G signals," the groups said in a statement, issued just hours before the spectrum is due to come into use.
"Starting Wednesday, the disruptions to our country’s aviation system are going to be incredibly challenging, especially at a time when the industry is currently experiencing COVID-related operational issues," the statement from the Aerospace Industries Association, International Air Transport Association, Regional Airline Association and others said.
(Reporting by David Shepardson; Editing by Leslie Adler)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
WASHINGTON, Jan 3 (Reuters) - Groups representing U.S. airlines, aircraft manufacturers and airports urged the White House late on Monday to intervene to delay the use by wireless carriers of C-Band spectrum for 5G, which they warn could cause dramatic disruptions for air travel. "Time has run out and it’s imperative that the White House intervene today to delay the imminent rollout of C-band 5G signals," the groups said in a statement, issued just hours before the spectrum is due to come into use. "Starting Wednesday, the disruptions to our country’s aviation system are going to be incredibly challenging, especially at a time when the industry is currently experiencing COVID-related operational issues," the statement from the Aerospace Industries Association, International Air Transport Association, Regional Airline Association and others said.
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WASHINGTON, Jan 3 (Reuters) - Groups representing U.S. airlines, aircraft manufacturers and airports urged the White House late on Monday to intervene to delay the use by wireless carriers of C-Band spectrum for 5G, which they warn could cause dramatic disruptions for air travel. "Time has run out and it’s imperative that the White House intervene today to delay the imminent rollout of C-band 5G signals," the groups said in a statement, issued just hours before the spectrum is due to come into use. "Starting Wednesday, the disruptions to our country’s aviation system are going to be incredibly challenging, especially at a time when the industry is currently experiencing COVID-related operational issues," the statement from the Aerospace Industries Association, International Air Transport Association, Regional Airline Association and others said.
|
WASHINGTON, Jan 3 (Reuters) - Groups representing U.S. airlines, aircraft manufacturers and airports urged the White House late on Monday to intervene to delay the use by wireless carriers of C-Band spectrum for 5G, which they warn could cause dramatic disruptions for air travel. "Starting Wednesday, the disruptions to our country’s aviation system are going to be incredibly challenging, especially at a time when the industry is currently experiencing COVID-related operational issues," the statement from the Aerospace Industries Association, International Air Transport Association, Regional Airline Association and others said. (Reporting by David Shepardson; Editing by Leslie Adler) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
WASHINGTON, Jan 3 (Reuters) - Groups representing U.S. airlines, aircraft manufacturers and airports urged the White House late on Monday to intervene to delay the use by wireless carriers of C-Band spectrum for 5G, which they warn could cause dramatic disruptions for air travel. "Time has run out and it’s imperative that the White House intervene today to delay the imminent rollout of C-band 5G signals," the groups said in a statement, issued just hours before the spectrum is due to come into use. "Starting Wednesday, the disruptions to our country’s aviation system are going to be incredibly challenging, especially at a time when the industry is currently experiencing COVID-related operational issues," the statement from the Aerospace Industries Association, International Air Transport Association, Regional Airline Association and others said.
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3903.0
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2022-01-03 00:00:00 UTC
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Airline Stocks Could Hit Real Turbulence on Jan. 5. Mark Your Calendars.
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AAL
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https://www.nasdaq.com/articles/airline-stocks-could-hit-real-turbulence-on-jan.-5.-mark-your-calendars.
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
The surging omicron variant was quick to complicate holiday plans when it was first detected just after Thanksgiving 2021. While the U.S. government did not impose any restrictions regarding family or social gatherings during the recent holiday season, many people traveling to such events faced inconvenient challenges. Indeed, airlines quickly began canceling flights and rescheduling others. As it happens, though, the worst catalyst that airline stocks are likely to face in 2022 has nothing to do with the virus. Instead, it has to do with the fifth generation (5G) technology rollout that is rapidly approaching.
Source: m.photo / Shutterstock.com
Turbulence Ahead for Airline Stocks
In December 2021, the Federal Aviation Administration (FAA) announced that a 5G technology rollout was scheduled for Jan. 5 and issued a directive for airlines. The agency noted that the wireless service rollout would mean that airlines should expect potential restrictions for flights landing in 46 of the U.S.’s largest metropolitan areas in the event of poor weather conditions.
As the Wall Street Journal reports, Congress is currently considering proposals from the telecom and aviation industries, prompted by the possibility of 5G systems interfering with aircraft cockpit safety. While the wireless industry behind the rollout has claimed that there is no risk posed to aircraft safety, the FAA has expressed concerns about cockpit safety disruptions. This has prompted the FAA to advise airlines to prepare for disruptions.
Airlines stocks haven’t reacted negatively to the news yet. Southwest Airlines (NYSE:LUV), American Airlines (NASDAQ:AAL) and Delta Air Lines (NYSE:DAL) have all been trending in the green today, giving the appearance of companies who aren’t worried about a significant catalyst that could easily send their stocks tumbling. However, that doesn’t mean they shouldn’t be worried.
Many Unknowns
As of now, much of this story rests on unknown factors. How many disruptions airlines will see, as well as their severity, is largely dependent on the weather. That said, with 46 large airports possibly affected, it seems likely that some fights will be facing poor weather conditions. This is especially true considering this is taking place in January.
What we do know, though, is that Wall Street hates uncertainty. While it’s clear that airlines are shrugging off fears of the variant, that doesn’t mean that these disruptions won’t be felt. We also shouldn’t forget that international travel is still difficult. The State Department recently advised Americans traveling abroad to make contingency plans for the time being.
What to Expect
While these disruptions will certainly be inconvenient for airline stocks, it should be noted that turbulence is temporary. When a plane experiences it, passengers face some discomfort. Ultimately, however, the flight returns to cruising altitude. That’s likely what we’re going to see on Jan. 5.
InvestorPlace contributor Nicolas Chahine recently speculated that AAL was likely to find new investors due to the resurgence in travel. Even if it is only domestic, in the event of no further government restrictions, airline stocks are likely to recover from the 5G disturbances fairly quickly. Investors should fasten their seatbelts but not be alarmed.
On the date of publication, Nicolas Chahine did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
The post Airline Stocks Could Hit Real Turbulence on Jan. 5. Mark Your Calendars. appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Southwest Airlines (NYSE:LUV), American Airlines (NASDAQ:AAL) and Delta Air Lines (NYSE:DAL) have all been trending in the green today, giving the appearance of companies who aren’t worried about a significant catalyst that could easily send their stocks tumbling. InvestorPlace contributor Nicolas Chahine recently speculated that AAL was likely to find new investors due to the resurgence in travel. While the U.S. government did not impose any restrictions regarding family or social gatherings during the recent holiday season, many people traveling to such events faced inconvenient challenges.
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Southwest Airlines (NYSE:LUV), American Airlines (NASDAQ:AAL) and Delta Air Lines (NYSE:DAL) have all been trending in the green today, giving the appearance of companies who aren’t worried about a significant catalyst that could easily send their stocks tumbling. InvestorPlace contributor Nicolas Chahine recently speculated that AAL was likely to find new investors due to the resurgence in travel. While the wireless industry behind the rollout has claimed that there is no risk posed to aircraft safety, the FAA has expressed concerns about cockpit safety disruptions.
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Southwest Airlines (NYSE:LUV), American Airlines (NASDAQ:AAL) and Delta Air Lines (NYSE:DAL) have all been trending in the green today, giving the appearance of companies who aren’t worried about a significant catalyst that could easily send their stocks tumbling. InvestorPlace contributor Nicolas Chahine recently speculated that AAL was likely to find new investors due to the resurgence in travel. Source: m.photo / Shutterstock.com Turbulence Ahead for Airline Stocks In December 2021, the Federal Aviation Administration (FAA) announced that a 5G technology rollout was scheduled for Jan. 5 and issued a directive for airlines.
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InvestorPlace contributor Nicolas Chahine recently speculated that AAL was likely to find new investors due to the resurgence in travel. Southwest Airlines (NYSE:LUV), American Airlines (NASDAQ:AAL) and Delta Air Lines (NYSE:DAL) have all been trending in the green today, giving the appearance of companies who aren’t worried about a significant catalyst that could easily send their stocks tumbling. This has prompted the FAA to advise airlines to prepare for disruptions.
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3904.0
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2022-01-03 00:00:00 UTC
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Verizon to delay 5G deployment two weeks, averting aviation safety standoff
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AAL
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https://www.nasdaq.com/articles/verizon-to-delay-5g-deployment-two-weeks-averting-aviation-safety-standoff
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nan
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nan
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WASHINGTON, Jan 3 (Reuters) - Verizon Communications VZ.N said late on Monday it had agreed to a two-week delay in deploying C-Band wireless spectrum, averting an aviation safety standoff that threatened to disrupt flights starting this week.
"We've agreed to two-week delay which promises the certainty of bringing this nation our game-changing 5G network in January," Verizon said after intensive talks with the Federal Aviation Administration and other government officials. The White House, airlines and aviation unions had pushed Verizon to delay its planned Wednesday rollout.
(Reporting by David Shepardson; Editing by Jacqueline Wong)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
WASHINGTON, Jan 3 (Reuters) - Verizon Communications VZ.N said late on Monday it had agreed to a two-week delay in deploying C-Band wireless spectrum, averting an aviation safety standoff that threatened to disrupt flights starting this week. "We've agreed to two-week delay which promises the certainty of bringing this nation our game-changing 5G network in January," Verizon said after intensive talks with the Federal Aviation Administration and other government officials. The White House, airlines and aviation unions had pushed Verizon to delay its planned Wednesday rollout.
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WASHINGTON, Jan 3 (Reuters) - Verizon Communications VZ.N said late on Monday it had agreed to a two-week delay in deploying C-Band wireless spectrum, averting an aviation safety standoff that threatened to disrupt flights starting this week. "We've agreed to two-week delay which promises the certainty of bringing this nation our game-changing 5G network in January," Verizon said after intensive talks with the Federal Aviation Administration and other government officials. (Reporting by David Shepardson; Editing by Jacqueline Wong) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
WASHINGTON, Jan 3 (Reuters) - Verizon Communications VZ.N said late on Monday it had agreed to a two-week delay in deploying C-Band wireless spectrum, averting an aviation safety standoff that threatened to disrupt flights starting this week. "We've agreed to two-week delay which promises the certainty of bringing this nation our game-changing 5G network in January," Verizon said after intensive talks with the Federal Aviation Administration and other government officials. (Reporting by David Shepardson; Editing by Jacqueline Wong) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
WASHINGTON, Jan 3 (Reuters) - Verizon Communications VZ.N said late on Monday it had agreed to a two-week delay in deploying C-Band wireless spectrum, averting an aviation safety standoff that threatened to disrupt flights starting this week. "We've agreed to two-week delay which promises the certainty of bringing this nation our game-changing 5G network in January," Verizon said after intensive talks with the Federal Aviation Administration and other government officials. The White House, airlines and aviation unions had pushed Verizon to delay its planned Wednesday rollout.
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3905.0
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2022-01-03 00:00:00 UTC
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VOLT Stock: My No. 2 Moonshot Pick for 2022
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AAL
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https://www.nasdaq.com/articles/volt-stock%3A-my-no.-2-moonshot-pick-for-2022
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
This article is excerpted from Tom Yeung’s Moonshot Investor newsletter. To make sure you don’t miss any of Tom’s potential 100x picks, subscribe to his mailing list here.
Source: Shutterstock
What if I told you that one of InvestorPlace‘s biggest winners this year outside of Moonshot’s picks — a 1,506% gainer — had nothing to do with tech?
It wasn’t a growth stock…
Nor was it a cryptocurrency…
And it certainly wasn’t a meme stock…
Instead, this was a long call option by veteran investor Eric Fry on Freeport-McMoRan (NYSE:FCX), a copper miner that lost $4 billion just four years prior. By opening a position at $1.64, Mr. Fry gave his pick plenty of room to grow. It’s a strategy he’s used consistently to earn stunning returns.
(To learn more about Eric Fry’s investment services, click here.)
His deep-value pick follows a similar pattern as other penny stock winners in 2021. My call on Hertz (NASDAQ:HTZ) when prices were at $2 would eventually net a 1,200% gain. And Louis Navellier, InvestorPlace stalwart, picked out RV maker Lazydays (NASDAQ:LAZY) when it was still trading down at $10.
These are the ugly, run-down houses in the abandoned neighborhoods that “proper” real estate agents avoid.
But we all know that the market doesn’t award points for style. If you’re walking away with a 50x return (assuming the risk profile was the same), no one cares if you did it on a hot stock like Tesla (NASDAQ:TSLA) or a turnaround like American Airlines (NASDAQ:AAL).
Today, we’ll take a look at my second-favorite investment for 2022 — a diamond-in-the-rough pick that insiders are quietly snapping up.
Source: Catalyst Labs / Shutterstock.com
My No. 2 Pick For 2022
My “big ugly” pick for 2022 is a company that deserves the title:
Volt Information Sciences (NYSEAMERICAN:VOLT).
Despite its name, VOLT has little to do with “information” or “sciences.” Instead, it’s a staffing firm that provides contract workers as well as direct placement and contingent-to-hire services.
7 of the Best Growth Stocks to Buy for 2022
In other words, it’s a company that took the Covid-19 pandemic on the nose. Revenues at Volt plummeted 18% in 2020 and the firm would lose $32.5 million by the end of the year. Similar losses were seen at rivals Robert Half International (NYSE:RHI) and Kelly Services (NASDAQ:KELYA). When the American labor force shrinks by 8 million people in a single month — as it did in February 2020 — employees and contract worker companies alike quickly find themselves out of work.
Investors also felt the crush. VOLT shares lost 75% of their value just weeks into the pandemic. By March 2020, the stock had sunk to $0.71, the lowest point in its 39-year history.
Green Shoots of a Post-Pandemic World
Yet the staffing industry is recovering faster than critics expected. In October, Volt announced its revenues had increased 17% from the prior year, erasing all pandemic-related losses. Q3 profits also increased to a positive $1.6 million.
Any average American could tell you why:
Our economy is rebounding.
In November, the U.S. unemployment rate dropped to 4.2%, a level seen in only four of the past 20 years. Suddenly, it’s companies that are having trouble finding workers.
That has put staffing firms on a rocket ship to Mars. Gross margins in the industry are up across the board: Volt’s 16.6% is the highest margin it’s seen since 2011. When it comes to cyclical companies, staffing firms take volatility to another level.
Leveraged Returns
With so many staffing companies to choose from, why buy VOLT in particular? The answer comes down to three factors.
Share Price. Volt’s $2.50 price makes it one of the cheapest staffing firms on the market. On a price-to-sales basis, its 0.07x ratio puts it in the 99th percentile of inexpensive companies.
Operational Leverage. The company’s margins are likewise some of the lowest in the industry, so economic improvements will have an outsized impact on Volt’s bottom line.
Insider Buying. Corporate executives have been buying shares in the range of $3.30 to $3.50. Insider buying typically outperforms the market, especially when multiple executives are buying — a fact I outline in my Insider Track strategy.
Put another way, a return to an “average” level of profitability and valuation multiples would send VOLT shares in the $4.20 to $4.50 range, a 75% upside. And if its baseline net profit margin rises to 3%, shares are worth $10 to $12.
Danger! High Voltage
Not everyone, however, will find an investment in VOLT particularly agreeable.
Firstly, many investors rightly dislike the staffing service industry. Contract workers receive limited benefits and no paid time off (PTO) from their employers, making CEO Linda Perneau’s $1.5 million pay package seem completely out of touch to some. And academic studies have long shown that contract workers are more likely to get hurt on the job due to less training and supervision.
Secondly, any unexpected economic hiccup will send VOLT crashing back down. The omicron variant has already shown the underlying weaknesses of government healthcare response. Who knows whether 2022 will bring a more deadly coronavirus variant or a mishandled taper?
And finally, Volt has seen its share of poor managers. Former CEO Michael Dean failed to turn the company around and there’s no guarantee that current leadership can move VOLT into higher-margin businesses.
But for those willing to take a bet on the U.S. economic recovery, this under-the-radar staffing firm is as cheap as they come.
Source: Catalyst Labs / Shutterstock
The Deep Value Derby
I won’t sugar-coat this:
Deep-value investing is hard.
Many of these risky stocks will go to zero. Telling your golf buddies that you own VOLT (or a near-bankrupt copper miner) takes a certain “I-don’t-care-what-you-think” attitude in life.
But companies on the brink of collapse also make some of the greatest investments. Anyone buying Apple (NASDAQ:AAPL) when it teetered on bankruptcy in 1997 would have earned an 144,000% return over the following 24 years. And stars from Amazon (NASDAQ:AMZN) to General Electric (NYSE:GE) also had moments where people weren’t sure whether they would succeed.
Not every deep-value investment will work out. But those that do have the power to return 10x… 20x… 50x… your investment. And that makes it all worthwhile.
P.S. Do you want to hear more about cryptocurrencies? Penny stocks? Options? Leave me a note at moonshots@investorplace.com or connect with me on LinkedIn and let me know what you’d like to see.
FREE REPORT: 17 Reddit Penny Stocks to Buy Now
Thomas Yeung is an expert when it comes to finding fast-paced growth opportunities on Reddit. He recommended Dogecoin before it skyrocketed over 8,000%, Ripple before it flew up more than 480% and Cardano before it soared 460%. Now, in a new report, he’s naming 17 of his favorite Reddit penny stocks. Claim your FREE COPY here!
On the date of publication, Tom Yeung did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Tom Yeung, CFA, is a registered investment advisor on a mission to bring simplicity to the world of investing.
The post VOLT Stock: My No. 2 Moonshot Pick for 2022 appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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If you’re walking away with a 50x return (assuming the risk profile was the same), no one cares if you did it on a hot stock like Tesla (NASDAQ:TSLA) or a turnaround like American Airlines (NASDAQ:AAL). When the American labor force shrinks by 8 million people in a single month — as it did in February 2020 — employees and contract worker companies alike quickly find themselves out of work. Contract workers receive limited benefits and no paid time off (PTO) from their employers, making CEO Linda Perneau’s $1.5 million pay package seem completely out of touch to some.
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If you’re walking away with a 50x return (assuming the risk profile was the same), no one cares if you did it on a hot stock like Tesla (NASDAQ:TSLA) or a turnaround like American Airlines (NASDAQ:AAL). InvestorPlace - Stock Market News, Stock Advice & Trading Tips This article is excerpted from Tom Yeung’s Moonshot Investor newsletter. It wasn’t a growth stock… Nor was it a cryptocurrency… And it certainly wasn’t a meme stock… Instead, this was a long call option by veteran investor Eric Fry on Freeport-McMoRan (NYSE:FCX), a copper miner that lost $4 billion just four years prior.
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If you’re walking away with a 50x return (assuming the risk profile was the same), no one cares if you did it on a hot stock like Tesla (NASDAQ:TSLA) or a turnaround like American Airlines (NASDAQ:AAL). InvestorPlace - Stock Market News, Stock Advice & Trading Tips This article is excerpted from Tom Yeung’s Moonshot Investor newsletter. 2 Pick For 2022 My “big ugly” pick for 2022 is a company that deserves the title: Volt Information Sciences (NYSEAMERICAN:VOLT).
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If you’re walking away with a 50x return (assuming the risk profile was the same), no one cares if you did it on a hot stock like Tesla (NASDAQ:TSLA) or a turnaround like American Airlines (NASDAQ:AAL). Despite its name, VOLT has little to do with “information” or “sciences.” Instead, it’s a staffing firm that provides contract workers as well as direct placement and contingent-to-hire services. Leveraged Returns With so many staffing companies to choose from, why buy VOLT in particular?
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3906.0
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2022-01-03 00:00:00 UTC
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Why Gevo Stock Is Up Nearly 14% Today
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AAL
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https://www.nasdaq.com/articles/why-gevo-stock-is-up-nearly-14-today
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What happened
Shares of biofuels producer Gevo (NASDAQ: GEVO) were up almost 14% as of 12:05 p.m. ET Monday, starting the new year off with a bang thanks to similarly strong bullish interest in companies closely associated with Gevo's flagship product.
So what
After Gevo ended 2021 on a mostly bearish foot, and at a new 52-week low, investors are changing their minds about the stock. The rally apparently stems from the fact that the company makes and markets liquid hydrocarbons using an approach that's completely carbon neutral. Its fuels can be used in a variety of ways, though its potential as a jet fuel is easily the most promising game changer.
To this end, Gevo shareholders can thank the renewed bullishness behind airline stocks for Monday's big gains. Shares of Delta Air Lines, United Airlines, and American Airlines are up 3.5%, 4.6%, and 4.8%, respectively, today despite a spate of COVID-prompted flight cancellations during the busy holiday season. Investors are looking past these temporary disruptions and still seeing a bigger-picture rebound for the air travel industry. That post-pandemic rebound, however, is converging with an even bigger shift toward cleaner energy solutions.
That being said, it's also arguable that at least some of Monday's surge for Gevo can be chalked up to how primed the stock was for a bounce after losing more than 70% of its value between February's peak and 2021's closing price.
Now what
Neither bullish prompt, however, has the sort of staying power investors can count on.
That's not to suggest Gevo has no future. Indeed, low carbon biofuels are the future. While the underlying science requires more refining and the fiscal aspects of the business still don't work (Gevo remains deep in the red on minimal revenue), traditional oil drilling and refining are falling out of favor. This paradigm shift won't occur in a single day, though, particularly on the first trading day of a new year.
At the very least, would-be Gevo investors will want to observe the stock for the next several days, if only to see if Monday's bullishness is the beginning of a more prolonged trend.
10 stocks we like better than Gevo, Inc.
When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and Gevo, Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of December 16, 2021
James Brumley has no position in any of the stocks mentioned. The Motley Fool recommends Delta Air Lines. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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ET Monday, starting the new year off with a bang thanks to similarly strong bullish interest in companies closely associated with Gevo's flagship product. The rally apparently stems from the fact that the company makes and markets liquid hydrocarbons using an approach that's completely carbon neutral. That being said, it's also arguable that at least some of Monday's surge for Gevo can be chalked up to how primed the stock was for a bounce after losing more than 70% of its value between February's peak and 2021's closing price.
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What happened Shares of biofuels producer Gevo (NASDAQ: GEVO) were up almost 14% as of 12:05 p.m. Shares of Delta Air Lines, United Airlines, and American Airlines are up 3.5%, 4.6%, and 4.8%, respectively, today despite a spate of COVID-prompted flight cancellations during the busy holiday season. The Motley Fool recommends Delta Air Lines.
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At the very least, would-be Gevo investors will want to observe the stock for the next several days, if only to see if Monday's bullishness is the beginning of a more prolonged trend. * They just revealed what they believe are the ten best stocks for investors to buy right now... and Gevo, Inc. wasn't one of them! See the 10 stocks *Stock Advisor returns as of December 16, 2021 James Brumley has no position in any of the stocks mentioned.
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Indeed, low carbon biofuels are the future. At the very least, would-be Gevo investors will want to observe the stock for the next several days, if only to see if Monday's bullishness is the beginning of a more prolonged trend. 10 stocks we like better than Gevo, Inc.
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3907.0
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2022-01-03 00:00:00 UTC
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CCL Stock: Why Carnival Is Cruising Higher Despite the CDC’s Covid Call
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AAL
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https://www.nasdaq.com/articles/ccl-stock%3A-why-carnival-is-cruising-higher-despite-the-cdcs-covid-call
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Carnival (NYSE:CCL) stock is heading higher on Monday despite recent concerns about the Covid-19 Omicron variant.
CCL) cruise ship on water in front of beach with chairs" width="300" height="169">
Source: Flickr
The rise in CCL stock appears to be partially related to an announcement from the U.S. Centers for Disease Control and Prevention (CDC) last week. This saw the government agency warning fully vaccinated passengers to avoid cruises.
While CCL stock dipped on that warning, it didn’t last long. With a weekend to recover from the CDC warning, investors decided to boost CCL stock back up. In fact, it’s more than CCL that is rising higher today.
Several stocks in the travel industry are on the move today. That includes other cruise companies, airlines, hotels, and more. Funnily enough, many of these, including American Airlines (NASDAQ:AAL) and Delta Air Lines (NYSE:DAL), are heading higher today despite the warnings from the CDC.
7 of the Best Growth Stocks to Buy for 2022
While we can’t be exactly sure what’s happening, it looks like investors aren’t overly worried about recent Omicron woes. The newest variant of Covid-19 is more contagious than its predecessor, but also isn’t near as dangerous.
After nearly two years in pandemic mode, U.S. citizens are likely ready to get back to normal life. Investors may be taking note of this as it could lead to an increase in travel over the coming months. This may also result in rising prices for stocks in other sectors, such as retail, as consumers return to their pre-pandemic routines.
Hopefully that’s true, but we’ll have to wait and see over the next few months before we can be sure.
CCL stock is up 6.3% as of Monday afternoon.
There’s loads of more stock coverage to dive into below!
InvestorPlace has all the most recent stock news that traders need for Monday. Among that is Taiwan Semiconductor (NYSE:TSM) stock talk, a CES 2022 preview, as well as what’s sending Genprex (NASDAQ:GNPX) shares higher. You can find all of that at the following links!
More Monday Stock Market News
TSM Stock: What Investors Are Saying About the Taiwan Semiconductor Breakout Today
CES 2022 Preview: The 9 Most Anticipated Reveals and Rumors
GNPX Stock: 5 Things to Know as Genprex Rockets Higher
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
The post CCL Stock: Why Carnival Is Cruising Higher Despite the CDC’s Covid Call appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Funnily enough, many of these, including American Airlines (NASDAQ:AAL) and Delta Air Lines (NYSE:DAL), are heading higher today despite the warnings from the CDC. 7 of the Best Growth Stocks to Buy for 2022 While we can’t be exactly sure what’s happening, it looks like investors aren’t overly worried about recent Omicron woes. Among that is Taiwan Semiconductor (NYSE:TSM) stock talk, a CES 2022 preview, as well as what’s sending Genprex (NASDAQ:GNPX) shares higher.
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Funnily enough, many of these, including American Airlines (NASDAQ:AAL) and Delta Air Lines (NYSE:DAL), are heading higher today despite the warnings from the CDC. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Carnival (NYSE:CCL) stock is heading higher on Monday despite recent concerns about the Covid-19 Omicron variant. Among that is Taiwan Semiconductor (NYSE:TSM) stock talk, a CES 2022 preview, as well as what’s sending Genprex (NASDAQ:GNPX) shares higher.
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Funnily enough, many of these, including American Airlines (NASDAQ:AAL) and Delta Air Lines (NYSE:DAL), are heading higher today despite the warnings from the CDC. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Carnival (NYSE:CCL) stock is heading higher on Monday despite recent concerns about the Covid-19 Omicron variant. CCL) cruise ship on water in front of beach with chairs" width="300" height="169"> Source: Flickr The rise in CCL stock appears to be partially related to an announcement from the U.S. Centers for Disease Control and Prevention (CDC) last week.
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Funnily enough, many of these, including American Airlines (NASDAQ:AAL) and Delta Air Lines (NYSE:DAL), are heading higher today despite the warnings from the CDC. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Carnival (NYSE:CCL) stock is heading higher on Monday despite recent concerns about the Covid-19 Omicron variant. With a weekend to recover from the CDC warning, investors decided to boost CCL stock back up.
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3908.0
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2022-01-03 00:00:00 UTC
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Great CEO Resignation invites the Great Agitation
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AAL
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https://www.nasdaq.com/articles/great-ceo-resignation-invites-the-great-agitation
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nan
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nan
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Reuters
Reuters
NEW YORK (Reuters Breakingviews) - Chief executives are over it. C-suite turnover spiked in the first half of 2021, according to data from recruiter Heidrick & Struggles https://www.heidrick.com/-/media/heidrickcom/publications-and-reports/route-to-the-top-2021.pdf. With average corporate leaders far older than they were 15 years ago and the job of managing during a pandemic a lot less fun the trend will continue in 2022. The Great CEO Resignation will become an invitation for corporate cage rattlers.
U.S. bosses like American Airlines’ Doug Parker and Janus Henderson’s Dick Weil are throwing in the towel. Half of Europe’s largest banks have replaced CEOs in the past two years. Leaders at some of Asia’s biggest firms, including Mizuho Financial’s Tatsufumi Sakai and Simon Hu at Ant have recently quit. Some were helped to the door, like the bosses at Barclays and Apollo Global Management. Not even the Las Vegas strip seems to be as much fun: Wynn Resorts’ Matt Maddox is cashing in his chips.
Among just over 1,000 large, listed companies, some 76 CEOs in the first half of 2021 left their posts globally, Heidrick tallies, a 23% jump from the previous high of 2018 and almost as many as departed in all of 2020.
The trend will continue. Rank and file are restless. From Wall Street to Silicon Valley, workers are demanding higher pay and better benefits. Leaders are not only consumed with staff retention and the difficulty of managing during a pandemic via Zoom or Teams but struggling with supply-chain headaches and other disruptions related to Covid-19. Zero-Covid policies in Hong Kong and elsewhere make the fun part of the job – flying the company jet to see the troops or customers – nearly impossible.
The average CEO is also eight years older at hire now than in 2005, according to data from Crist Kolder Associates, a headhunter. That leaves an opening for activist investors like Dan Loeb and Bill Ackman. As Morgan Stanley’s head of mergers Rob Kindler told Breakingviews https://play.acast.com/s/226d4aea-cb06-4a2a-877f-8b3a037a61d9/61af1dd811ff200012a5aa8a at the Reuters Next conference, activists like to muscle into companies when leadership is strained, and boards are distracted.
Uppity investors are ready to roll, too. Firms like Paul Singer’s Elliott Management deployed just $28.5 billion in the first three quarters of 2021, about half the amount they put to work in the same period in 2018 and less than the two subsequent years, research from Lazard’s Capital Markets Advisory Group shows. CEOs may be hitting the beach, but that will make remaining executives’ jobs far harder.
Follow @thereallsl https://twitter.com/thereallsl on Twitter
CONTEXT NEWS
- After a significant slowdown in chief executive appointments in the second half of 2020, companies made a record number of such appointments in the first half of 2021, according to data from Heidrick & Struggles. In the 14 countries the firm has tracked since 2018, 76 were appointed, outstripping the next highest half-year period by 14 placements, or 23%, in 2018.
(Editing by Rob Cox, Katrina Hamlin and Amanda Gomez)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Zero-Covid policies in Hong Kong and elsewhere make the fun part of the job – flying the company jet to see the troops or customers – nearly impossible. As Morgan Stanley’s head of mergers Rob Kindler told Breakingviews https://play.acast.com/s/226d4aea-cb06-4a2a-877f-8b3a037a61d9/61af1dd811ff200012a5aa8a at the Reuters Next conference, activists like to muscle into companies when leadership is strained, and boards are distracted. Firms like Paul Singer’s Elliott Management deployed just $28.5 billion in the first three quarters of 2021, about half the amount they put to work in the same period in 2018 and less than the two subsequent years, research from Lazard’s Capital Markets Advisory Group shows.
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NEW YORK (Reuters Breakingviews) - Chief executives are over it. With average corporate leaders far older than they were 15 years ago and the job of managing during a pandemic a lot less fun the trend will continue in 2022. - After a significant slowdown in chief executive appointments in the second half of 2020, companies made a record number of such appointments in the first half of 2021, according to data from Heidrick & Struggles.
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With average corporate leaders far older than they were 15 years ago and the job of managing during a pandemic a lot less fun the trend will continue in 2022. Firms like Paul Singer’s Elliott Management deployed just $28.5 billion in the first three quarters of 2021, about half the amount they put to work in the same period in 2018 and less than the two subsequent years, research from Lazard’s Capital Markets Advisory Group shows. - After a significant slowdown in chief executive appointments in the second half of 2020, companies made a record number of such appointments in the first half of 2021, according to data from Heidrick & Struggles.
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NEW YORK (Reuters Breakingviews) - Chief executives are over it. With average corporate leaders far older than they were 15 years ago and the job of managing during a pandemic a lot less fun the trend will continue in 2022. - After a significant slowdown in chief executive appointments in the second half of 2020, companies made a record number of such appointments in the first half of 2021, according to data from Heidrick & Struggles.
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3909.0
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2022-01-03 00:00:00 UTC
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7 of the Best Cheap Stocks Under $20 for 2022 to Buy Now
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AAL
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https://www.nasdaq.com/articles/7-of-the-best-cheap-stocks-under-%2420-for-2022-to-buy-now
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
“Buy low, sell high” is the mantra for success in the investing world. Consequently, investors are always looking for opportunities to scoop up cheap stocks that could offer incredible value over the long run. As Warren Buffet said, “It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.”
We have seen many beaten-down stocks without much promise get a bump in share price. Additionally, some promising stocks haven’t been able to win over the stock market so far. But cheap stocks with strong growth prospects will allow investors to generate handsome returns in a short space of time. Therefore, if you can find auspicious companies early on, you can build great wealth over time.
7 of the Best Growth Stocks to Buy for 2022
Having said that, let’s look at some promising cheap stocks you can grab for under $20:
Exelixis (NASDAQ:EXEL)
Orange (NYSE:ORAN)
Vodafone (NASDAQ:VOD)
American Airlines (NASDAQ:AAL)
Hello Group (NASDAQ:MOMO)
Viatris (NASDAQ:VTRS)
SoFi Technologies (NASDAQ:SOFI)
Cheap Stocks: Exelixis (EXEL)
Source: Iryna Imago / Shutterstock.com
Exelixis is an oncology-focused pharmaceutical company. Its claim to fame is its hugely-successful cancer drug called Cabometyx.
Since the drug’s approval in 2016, Exelixis has focused on strengthening its market positioning by running trials to combine Cabometyx with other drugs to treat more conditions.
Though the RCC market is highly competitive, the company generated double-digit growth in Cabometyx sales. The drug has generated strong revenue numbers of more than $1 billion.
Cabometyx could generate millions in annual sales down the line as part of several clinical trials. On top of that, the company boasts a cash position of more than $1.5 billion, which gives it ample flexibility to continue investing in its business.
Orange (ORAN)
Source: Shutterstock
Orange is a French telecom giant which operates the fourth-largest mobile network in Europe. ORAN stock has taken a substantial hit in value over the past three years due to the regulatory and operational challenges in the European market.
However, Orange has a robust growth runway in the coming years. After its recent selloff, the stock is at a highly-attractive entry point.
5G coverage in Europe is growing at an impressive pace, and Orange’s infrastructure projects are moving in the right direction. These include its TowerCo project and Polish FiberCo joint venture.
7 Stocks to Snap Up ASAP If a Stock Market Crash Actually Happens
During its most-recent quarter, its European revenues grew by 2% with a 5.7% increase in retail services. On top of that, its African and Middle-Eastern growth regions are performing incredibly well, which is a testament to the company’s expanding footprint.
Cheap Stocks: Vodafone (VOD)
VOD) logo" width="300" height="169">
Source: Photos by D / Shutterstock.com
U.K. mobile operator Vodafone has performed underwhelmingly in the stock market of late. A lot of it is due to its subpar performance in the past couple of years and its mounting debt load.
However, Vodafone’s recent positive results, appealing stock price and solid dividend profile make it an incredible long-term bet.
The company recently reported better-than-expected numbers during its first half. The telecom giant has raised its earnings guidance for the year from 15 billion euros to 15.2 billion euros. Moreover, it increased its free cash flow (FCF) target by 100 million euros.
It also boasts healthy dividend yields of nearly 6.8% with close to 90% payout. If it can lower its debt burden and work on its operational effectiveness, VOD stock is in for a major turnaround in 2022.
American Airlines (AAL)
AAL) airplane waiting on the tarmac. Represents airline stocks." width="300" height="169">
Source: GagliardiPhotography / Shutterstock.com
American Airlines and AAL stock were obliterated during the pandemic. The coronavirus wiped away demand for air travel, but the sector has bounced back with the widespread availability of vaccines.
However, American Airlines remains a work-in-progress, as it’s still reeling from the effects of the pandemic on its financial flexibility. Nevertheless, AAL stock remains an excellent buy for the long haul, trading at less than one times forward sales.
The great thing for American Airlines is that leisure travel has returned to pre-pandemic levels on a few occasions in the past year. Moreover, business travel is likely to recover in the next couple of years. Debt reduction will also continue due to its reduced capital expenditure requirements.
Stock Market Crash Coming? 7 Wall Street Pros Make Their Predictions
American Airlines’ impeccable fleet management in the past decade is likely to give it the edge in the future. Moreover, with the changes at the top, the airliner plans to focus on customer service, cut losses and limit its debt load.
Cheap Stocks: Hello Group (MOMO)
Source: rafapress
Hello Group owns several of China’s top social and entertainment apps and was once touted as one of the best growth stocks on the market. However, it nosedived after its Tinder-like Tantan app was removed from stores for alleged inappropriate content.
Since then, Hello Group’s apps have been restored. The company is now recovering after the pandemic hurt its online dating and live streaming segments.
Revenue growth hasn’t been impressive in the past few quarters, but Hello Group is investing heavily in its businesses to grow its user base. The goal is to reduce paywalls and get more monthly active users (MAUs) on its platforms.
The company boasts a strong balance sheet and impetus to expand its services in other countries. On top of that, MOMO stock is trading rather cheaply at less than one times forward sales.
Viatris (VTRS)
Source: Postmodern Studio / Shutterstock.com
Viatris is a spinoff of Pfizer’s (NYSE:PFE) drug unit, Upjohn, whose shares have taken a hammering in the past year. However, the business is solid overall with a stable top and bottom line as well as massive free cash flow growth. It can easily service its debt and is likely to deliver on its promise of healthy dividends down the line.
Viatris has laid down a three-point agenda since its creation. It plans to repay its debt, expand its free cash flow and dish out over $200 million in dividends within the next nine months.
So far, it appears the company can become a cash cow, having generated more than $2 billion in free cash flows. It boasts a strong and proven portfolio, which will help it post sizeable revenues in the future.
7 Top Stocks to Buy If You're Betting on a Santa Rally
The company expects revenue to fall between $17.7 billion and $17.9 billion for the year, representing a nearly 50% increase on a year-over-year (YOY) basis. Moreover, VTRS stock trades at less than one time forward sales, which is a remarkably attractive price for such a high-growth company.
Cheap Stocks: SoFi Technologies (SOFI)
Source: rafapress / Shutterstock.com
SoFi Technologies is an up-and-coming financial technology (fintech) disruptor on a mission to help its customers achieve financial independence. The goal is to offer a streamlined service, which offers a host of different financial services without any hitches.
So far, the platform has nearly doubled its membership in a year and continues to execute brilliantly.
SoFi’s investors have plenty to look forward to next year. Perhaps its biggest catalyst is the bank charter it’s been chasing, which is in the final stages of approval. Once it gets the charter, SoFi can cut out the middle man and significantly expand its margins.
The company’s recent acquisition of Galileo will help curb its risks and further solidify its positioning in the fintech space. Hence, SOFI stock has the potential to gain big in what could be its breakthrough year in 2022.
On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines
Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University.
The post 7 of the Best Cheap Stocks Under $20 for 2022 to Buy Now appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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7 of the Best Growth Stocks to Buy for 2022 Having said that, let’s look at some promising cheap stocks you can grab for under $20: Exelixis (NASDAQ:EXEL) Orange (NYSE:ORAN) Vodafone (NASDAQ:VOD) American Airlines (NASDAQ:AAL) Hello Group (NASDAQ:MOMO) Viatris (NASDAQ:VTRS) SoFi Technologies (NASDAQ:SOFI) Cheap Stocks: Exelixis (EXEL) Source: Iryna Imago / Shutterstock.com Exelixis is an oncology-focused pharmaceutical company. American Airlines (AAL) AAL) airplane waiting on the tarmac. width="300" height="169"> Source: GagliardiPhotography / Shutterstock.com American Airlines and AAL stock were obliterated during the pandemic.
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7 of the Best Growth Stocks to Buy for 2022 Having said that, let’s look at some promising cheap stocks you can grab for under $20: Exelixis (NASDAQ:EXEL) Orange (NYSE:ORAN) Vodafone (NASDAQ:VOD) American Airlines (NASDAQ:AAL) Hello Group (NASDAQ:MOMO) Viatris (NASDAQ:VTRS) SoFi Technologies (NASDAQ:SOFI) Cheap Stocks: Exelixis (EXEL) Source: Iryna Imago / Shutterstock.com Exelixis is an oncology-focused pharmaceutical company. American Airlines (AAL) AAL) airplane waiting on the tarmac. width="300" height="169"> Source: GagliardiPhotography / Shutterstock.com American Airlines and AAL stock were obliterated during the pandemic.
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7 of the Best Growth Stocks to Buy for 2022 Having said that, let’s look at some promising cheap stocks you can grab for under $20: Exelixis (NASDAQ:EXEL) Orange (NYSE:ORAN) Vodafone (NASDAQ:VOD) American Airlines (NASDAQ:AAL) Hello Group (NASDAQ:MOMO) Viatris (NASDAQ:VTRS) SoFi Technologies (NASDAQ:SOFI) Cheap Stocks: Exelixis (EXEL) Source: Iryna Imago / Shutterstock.com Exelixis is an oncology-focused pharmaceutical company. American Airlines (AAL) AAL) airplane waiting on the tarmac. width="300" height="169"> Source: GagliardiPhotography / Shutterstock.com American Airlines and AAL stock were obliterated during the pandemic.
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7 of the Best Growth Stocks to Buy for 2022 Having said that, let’s look at some promising cheap stocks you can grab for under $20: Exelixis (NASDAQ:EXEL) Orange (NYSE:ORAN) Vodafone (NASDAQ:VOD) American Airlines (NASDAQ:AAL) Hello Group (NASDAQ:MOMO) Viatris (NASDAQ:VTRS) SoFi Technologies (NASDAQ:SOFI) Cheap Stocks: Exelixis (EXEL) Source: Iryna Imago / Shutterstock.com Exelixis is an oncology-focused pharmaceutical company. American Airlines (AAL) AAL) airplane waiting on the tarmac. width="300" height="169"> Source: GagliardiPhotography / Shutterstock.com American Airlines and AAL stock were obliterated during the pandemic.
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3910.0
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2022-01-02 00:00:00 UTC
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AT&T, Verizon CEOs reject U.S. request for 5G deployment delay
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AAL
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https://www.nasdaq.com/articles/att-verizon-ceos-reject-u.s.-request-for-5g-deployment-delay-0
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nan
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nan
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By David Shepardson
WASHINGTON, Jan 2 (Reuters) - The chief executives of AT&T T.N and Verizon Communications VZ.N rejected a request to delay the planned Jan. 5 introduction of new 5G wireless service over aviation safety concerns but offered to temporarily adopt new safeguards.
U.S. Transportation Secretary Pete Buttigieg and Federal Aviation Administration chief Steve Dickson had asked AT&T CEO John Stankey and Verizon CEO Hans Vestberg late Friday for a commercial deployment delay of no more than two weeks.
The wireless companies in a joint letter on Sunday said they would not deploy 5G around airports for six months but rejected any broader limitation on using C-Band spectrum. They said the Transportation Department proposal would be "an irresponsible abdication of the operating control required to deploy world-class and globally competitive communications networks."
The aviation industry and FAA have raised concerns about potential interference of 5G with sensitive aircraft electronics like radio altimeters that could disrupt flights.
The exclusion zone AT&T and Verizon propose is currently in use in France, the carriers said, "with slight adaption" reflecting "modest technical differences in how C-band is being deployed."
"The laws of physics are the same in the United States and France," the CEOs wrote. "If U.S. airlines are permitted to operate flights every day in France, then the same operating conditions should allow them to do so in the United States."
The FAA said in a statement on Sunday that it was "reviewing the latest letter from the wireless companies on how to mitigate interference from 5G C-band transmissions. U.S. aviation safety standards will guide our next actions."
FAA officials said France uses spectrum for 5G that sits further away from spectrum used for radio altimeters and uses lower power levels for 5G than those authorized in the United States.
Verizon said it will initially only use spectrum in the same range as used in France, adding it will be a couple of years before it uses additional spectrum. The larger U.S. exclusion zone around U.S. airports is "to make up for the slight difference in power levels between the two nations," Verizon added.
Sara Nelson, president of the Association of Flight Attendants-CWA (AFA), representing 50,000 workers at 17 airlines, on Sunday wrote on Twitter that pilots, airlines, manufacturers and others "have NO incentive to delay 5G, other than SAFETY. What do they think … we’re raising these issues over the holidays for, kicks?"
The Air Line Pilots Association also backed the delay.
Government and industry officials said the exclusion zones proposed by the wireless carriers is not as large as what has been sought by the FAA.
The FAA and Buttigieg on Friday proposed identifying priority airports "where a buffer zone would permit aviation operations to continue safely while the FAA completes its assessments of the interference potential."
The wireless carriers, which won the C-Band spectrum in an $80 billion government auction, previously agreed to precautionary measures for six months to limit interference but say the upgrades are essential to compete with other countries like China and to enable remote working.
Trade group Airlines for America, representing American Airlines AAL.O, FedEx FDX.N and other carriers, on Thursday asked the Federal Communications Commission (FCC) to halt deployment around many airports, warning thousands of flights could be disrupted daily.
The airline group has said it may go to court Monday if the FCC does not act. The group urged the FCC and the telecom industry to work with the FAA and the aviation industry to "enable the rollout of 5G technology while prioritizing safety and avoiding any disruption to the aviation system."
An FCC spokesperson said Sunday the agency is "optimistic that by working together we can both advance the wireless economy and ensure aviation safety."
Wireless industry group CTIA said 5G is safe and spectrum is being used in about 40 other countries.
U.S. officials ask AT&T, Verizon to delay 5G wireless over aviation safety concerns
(Reporting by David Shepardson; Editing by Lisa Shumaker and Mark Porter)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Trade group Airlines for America, representing American Airlines AAL.O, FedEx FDX.N and other carriers, on Thursday asked the Federal Communications Commission (FCC) to halt deployment around many airports, warning thousands of flights could be disrupted daily. By David Shepardson WASHINGTON, Jan 2 (Reuters) - The chief executives of AT&T T.N and Verizon Communications VZ.N rejected a request to delay the planned Jan. 5 introduction of new 5G wireless service over aviation safety concerns but offered to temporarily adopt new safeguards. The aviation industry and FAA have raised concerns about potential interference of 5G with sensitive aircraft electronics like radio altimeters that could disrupt flights.
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Trade group Airlines for America, representing American Airlines AAL.O, FedEx FDX.N and other carriers, on Thursday asked the Federal Communications Commission (FCC) to halt deployment around many airports, warning thousands of flights could be disrupted daily. The FAA and Buttigieg on Friday proposed identifying priority airports "where a buffer zone would permit aviation operations to continue safely while the FAA completes its assessments of the interference potential." U.S. officials ask AT&T, Verizon to delay 5G wireless over aviation safety concerns (Reporting by David Shepardson; Editing by Lisa Shumaker and Mark Porter) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Trade group Airlines for America, representing American Airlines AAL.O, FedEx FDX.N and other carriers, on Thursday asked the Federal Communications Commission (FCC) to halt deployment around many airports, warning thousands of flights could be disrupted daily. The FAA and Buttigieg on Friday proposed identifying priority airports "where a buffer zone would permit aviation operations to continue safely while the FAA completes its assessments of the interference potential." The group urged the FCC and the telecom industry to work with the FAA and the aviation industry to "enable the rollout of 5G technology while prioritizing safety and avoiding any disruption to the aviation system."
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Trade group Airlines for America, representing American Airlines AAL.O, FedEx FDX.N and other carriers, on Thursday asked the Federal Communications Commission (FCC) to halt deployment around many airports, warning thousands of flights could be disrupted daily. "If U.S. airlines are permitted to operate flights every day in France, then the same operating conditions should allow them to do so in the United States." Government and industry officials said the exclusion zones proposed by the wireless carriers is not as large as what has been sought by the FAA.
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3911.0
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2021-12-31 00:00:00 UTC
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U.S. officials ask AT&T, Verizon to delay 5G wireless over aviation safety concerns
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AAL
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https://www.nasdaq.com/articles/u.s.-officials-ask-att-verizon-to-delay-5g-wireless-over-aviation-safety-concerns
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nan
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nan
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WASHINGTON, Dec 31 (Reuters) - U.S. Transportation Secretary Pete Buttigieg and the head of the Federal Aviation Administration (FAA) on Friday asked AT&T T.N and Verizon Communications VZ.N to delay the planned Jan. 5 introduction of C-Band wireless service over aviation safety concerns.
In a letter Friday seen by Reuters, Buttigieg and FAA Administrator Steve Dickson asked AT&T Chief Executive John Stankey and Verizon Chief Executive Hans Vestberg for a delay of no more than two weeks as part of a "proposal as a near-term solution for advancing the co-existence of 5G deployment in the C-Band and safe flight operations."
The aviation industry and FAA have raised concerns about potential interference of 5G with sensitive aircraft electronics like radio altimeters that could disrupt flights.
(Reporting by David Shepardson, Editing by Rosalba O'Brien)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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WASHINGTON, Dec 31 (Reuters) - U.S. Transportation Secretary Pete Buttigieg and the head of the Federal Aviation Administration (FAA) on Friday asked AT&T T.N and Verizon Communications VZ.N to delay the planned Jan. 5 introduction of C-Band wireless service over aviation safety concerns. In a letter Friday seen by Reuters, Buttigieg and FAA Administrator Steve Dickson asked AT&T Chief Executive John Stankey and Verizon Chief Executive Hans Vestberg for a delay of no more than two weeks as part of a "proposal as a near-term solution for advancing the co-existence of 5G deployment in the C-Band and safe flight operations." The aviation industry and FAA have raised concerns about potential interference of 5G with sensitive aircraft electronics like radio altimeters that could disrupt flights.
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WASHINGTON, Dec 31 (Reuters) - U.S. Transportation Secretary Pete Buttigieg and the head of the Federal Aviation Administration (FAA) on Friday asked AT&T T.N and Verizon Communications VZ.N to delay the planned Jan. 5 introduction of C-Band wireless service over aviation safety concerns. In a letter Friday seen by Reuters, Buttigieg and FAA Administrator Steve Dickson asked AT&T Chief Executive John Stankey and Verizon Chief Executive Hans Vestberg for a delay of no more than two weeks as part of a "proposal as a near-term solution for advancing the co-existence of 5G deployment in the C-Band and safe flight operations." (Reporting by David Shepardson, Editing by Rosalba O'Brien) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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WASHINGTON, Dec 31 (Reuters) - U.S. Transportation Secretary Pete Buttigieg and the head of the Federal Aviation Administration (FAA) on Friday asked AT&T T.N and Verizon Communications VZ.N to delay the planned Jan. 5 introduction of C-Band wireless service over aviation safety concerns. In a letter Friday seen by Reuters, Buttigieg and FAA Administrator Steve Dickson asked AT&T Chief Executive John Stankey and Verizon Chief Executive Hans Vestberg for a delay of no more than two weeks as part of a "proposal as a near-term solution for advancing the co-existence of 5G deployment in the C-Band and safe flight operations." (Reporting by David Shepardson, Editing by Rosalba O'Brien) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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WASHINGTON, Dec 31 (Reuters) - U.S. Transportation Secretary Pete Buttigieg and the head of the Federal Aviation Administration (FAA) on Friday asked AT&T T.N and Verizon Communications VZ.N to delay the planned Jan. 5 introduction of C-Band wireless service over aviation safety concerns. In a letter Friday seen by Reuters, Buttigieg and FAA Administrator Steve Dickson asked AT&T Chief Executive John Stankey and Verizon Chief Executive Hans Vestberg for a delay of no more than two weeks as part of a "proposal as a near-term solution for advancing the co-existence of 5G deployment in the C-Band and safe flight operations." The aviation industry and FAA have raised concerns about potential interference of 5G with sensitive aircraft electronics like radio altimeters that could disrupt flights.
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3912.0
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2021-12-31 00:00:00 UTC
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Is This Airline Stock A Better Pick Over American Airlines?
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AAL
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https://www.nasdaq.com/articles/is-this-airline-stock-a-better-pick-over-american-airlines
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nan
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nan
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The shares of American Airlines (NASDAQ: AAL) currently trade 35% below pre-Covid levels as compared to a 44% decline in United Airlines stock (NASDAQ: UAL). United Airlines incurred $4.1 billion of operating cash burn last year which is lower than its $11 billion drop in market capitalization since February 2020. Comparing this with American Airlines’ $7.2 billion decline in market capitalization and $6.5 billion of operating cash burn, Trefis believes that United Airlines stock is a good value investment. Also, the third phase of the payroll support program restricts airline companies from returning capital to investors as dividends and share repurchases until September 2022. We compare the historical trends in revenues, margins, and valuation multiple of both companies in an interactive dashboard analysis, American Airlines vs United Airlines: Industry Peers; Which Stock Is A Better Bet?– parts of which are highlighted below.
Revenue Growth
United’s growth was a bit higher than American’s before the pandemic, with United’s revenue expanding at an average rate of 5.8% per year from $36.6 billion in 2016 to $43.3 billion in 2019, versus American’s revenue which grew by 4.5% per year from $40 billion in 2016 to $45 billion in 2019. With the pandemic causing a severe downturn in the travel & tourism industry, both companies reported a 60% (y-o-y) top-line contraction in 2020.
To match demand-supply and lower operating losses, United and American lowered capacity in 2020 (available seat miles) by 57% and 50%, respectively. Thus, lower cash generation from reduced capacity and occupancy rate prompted the need for government aid to assist maintenance costs and employee salaries.
Per PSP-3 requirements, dividend payouts and share buybacks remain suspended until September 2022 as the airline industry continues to face hiccups from multiple waves of coronavirus infections.
United and American’s topline has been majorly driven by domestic demand in the past few years. In 2019, domestic business accounted for 74% and 62% of United and American’s total revenues, respectively.
Both companies reported strong revenue growth this year, assisted by domestic travel demand and a decline in new infections after the fourth wave (due to Delta variant). (related: Southwest Airlines Stock Poised For Strong Gains?)
Returns (Profits)
Coming to Returns, United has been reporting a slightly higher operating margin than American.
In 2019, United Airlines reported $43 billion in revenues, $3 billion of net income – at a net margin of 7%. Similarly, American Airlines reported $46 billion in revenues, $1.6 billion of net income – at a net margin of 4%.
American sizably low net margins have largely been due to $1 billion of annual interest expense on the $20 billion of long-term debt.
Moreover, American’s highly leveraged balance sheet led to an operating cash burn of $6.5 billion as compared to $4.1 billion for United Airlines.
Risk
American Airlines looks like the riskier of the two companies from the perspective of financial leverage.
High fixed costs and significantly low demand took a heavy toll on all air carriers over the past two years. With the culmination of the CARES Act grant, the airline industry faces downside risk from recurring travel restrictions due to multiple infectious waves. Thus, revenue contraction coupled with a loaded balance sheet negatively affects shareholder returns.
As dividends and share repurchases stand suspended until September 2022, profiting from short-term dips remains a rational investment strategy for airline stocks.
United and American ended Q3 2021 with $14 billion and $24 billion of long-term debt (net of cash & cash equivalents), respectively.
Given United Airlines’ stronger balance sheet, we believe that the stock is a better pick over American Airlines. (related: American Airlines Stock To Tread Water?)
What if you’re looking for a more balanced portfolio instead? Here’s a high-quality portfolio that’s beaten the market consistently since the end of 2016.
Returns Dec 2021
MTD [1] 2021
YTD [1] 2017-21
Total [2]
AAL Return -7% 16% -61%
S&P 500 Return 0% 25% 109%
Trefis MS Portfolio Return 1% 46% 293%
[1] Month-to-date and year-to-date as of 12/23/2021
[2] Cumulative total returns since 2017
Invest with Trefis Market-Beating Portfolios
See all Trefis Price Estimates
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The shares of American Airlines (NASDAQ: AAL) currently trade 35% below pre-Covid levels as compared to a 44% decline in United Airlines stock (NASDAQ: UAL). Total [2] AAL Return -7% 16% -61% S&P 500 Return 0% 25% 109% Trefis MS Portfolio Return 1% 46% 293% [1] Month-to-date and year-to-date as of 12/23/2021 [2] Cumulative total returns since 2017 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Per PSP-3 requirements, dividend payouts and share buybacks remain suspended until September 2022 as the airline industry continues to face hiccups from multiple waves of coronavirus infections.
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The shares of American Airlines (NASDAQ: AAL) currently trade 35% below pre-Covid levels as compared to a 44% decline in United Airlines stock (NASDAQ: UAL). Total [2] AAL Return -7% 16% -61% S&P 500 Return 0% 25% 109% Trefis MS Portfolio Return 1% 46% 293% [1] Month-to-date and year-to-date as of 12/23/2021 [2] Cumulative total returns since 2017 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Comparing this with American Airlines’ $7.2 billion decline in market capitalization and $6.5 billion of operating cash burn, Trefis believes that United Airlines stock is a good value investment.
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The shares of American Airlines (NASDAQ: AAL) currently trade 35% below pre-Covid levels as compared to a 44% decline in United Airlines stock (NASDAQ: UAL). Total [2] AAL Return -7% 16% -61% S&P 500 Return 0% 25% 109% Trefis MS Portfolio Return 1% 46% 293% [1] Month-to-date and year-to-date as of 12/23/2021 [2] Cumulative total returns since 2017 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Comparing this with American Airlines’ $7.2 billion decline in market capitalization and $6.5 billion of operating cash burn, Trefis believes that United Airlines stock is a good value investment.
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The shares of American Airlines (NASDAQ: AAL) currently trade 35% below pre-Covid levels as compared to a 44% decline in United Airlines stock (NASDAQ: UAL). Total [2] AAL Return -7% 16% -61% S&P 500 Return 0% 25% 109% Trefis MS Portfolio Return 1% 46% 293% [1] Month-to-date and year-to-date as of 12/23/2021 [2] Cumulative total returns since 2017 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Comparing this with American Airlines’ $7.2 billion decline in market capitalization and $6.5 billion of operating cash burn, Trefis believes that United Airlines stock is a good value investment.
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3913.0
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2021-12-30 00:00:00 UTC
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U.S. airline group seeks 5G wireless deployment delay near airports
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AAL
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https://www.nasdaq.com/articles/u.s.-airline-group-seeks-5g-wireless-deployment-delay-near-airports-0
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nan
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nan
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By David Shepardson
Dec 30 (Reuters) - A U.S. trade group representing major passenger and cargo airlines asked the Federal Communications Commission (FCC) on Thursday to halt deployment of new 5G wireless service at some airport locations.
AT&T T.N and Verizon Communications VZ.N are set on Jan. 5 to deploy C-Band spectrum 5G wireless service that they won in an $80 billion government auction. The aviation industry and the U.S. Federal Aviation Administration (FAA) have raised concerns that 5G might interfere with sensitive aircraft electronics like radio altimeters, which could delay or divert flights.
Patricia Vercelli, general counsel for industry group Airlines for America, said in a memo seen by Reuters that air carriers continue to urge the FCC and FAA "to work together on a practical solution that will enable the rollout of 5G technology while prioritizing safety and avoiding any disruption to the aviation system."
The airlines' petition is aimed at preserving legal options in the event ongoing discussions do not result in an agreement and to prevent what airlines warn could be "massive disruptions" to U.S. aviation, the group said.
"We are committed to working in good faith to find a solution. But time is running out," the airline group said.
Earlier this month, the group warned interference from 5G networks could cause 4% of U.S. flights to be diverted, delayed or canceled.
The FAA this month issued airworthiness directives warning 5G interference could result in flight diversions.
The agency has been preparing to issue notices further detailing impact of potential interference but has delayed release as intensive talks continue between the Biden administration, wireless carriers and the aviation sector.
Airlines for America, which represents American Airlines AAL.O, Delta Air Lines DAL.N, United Airlines UAL.N, FedEx FDX.N and other major carriers, says if the FAA 5G directive had been in effect in 2019, about 345,000 passenger flights and 5,400 cargo flights would have faced delays, diversions or cancellations.
In November, AT&T and Verizon delayed commercial launch of C-band wireless service by a month until Jan. 5 and adopted precautionary measures to limit interference.
Aviation industry groups said that was insufficient. The aviation industry made a counterproposal that would limit cellular transmissions around airports and other critical areas.
Wireless industry group CTIA said 5G is safe and the spectrum is being used in about 40 other countries.
The FAA declined to comment. The FCC and CTIA did not immediately comment.
(Reporting by David Shepardson; Editing by Leslie Adler and David Gregorio)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Airlines for America, which represents American Airlines AAL.O, Delta Air Lines DAL.N, United Airlines UAL.N, FedEx FDX.N and other major carriers, says if the FAA 5G directive had been in effect in 2019, about 345,000 passenger flights and 5,400 cargo flights would have faced delays, diversions or cancellations. By David Shepardson Dec 30 (Reuters) - A U.S. trade group representing major passenger and cargo airlines asked the Federal Communications Commission (FCC) on Thursday to halt deployment of new 5G wireless service at some airport locations. Patricia Vercelli, general counsel for industry group Airlines for America, said in a memo seen by Reuters that air carriers continue to urge the FCC and FAA "to work together on a practical solution that will enable the rollout of 5G technology while prioritizing safety and avoiding any disruption to the aviation system."
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Airlines for America, which represents American Airlines AAL.O, Delta Air Lines DAL.N, United Airlines UAL.N, FedEx FDX.N and other major carriers, says if the FAA 5G directive had been in effect in 2019, about 345,000 passenger flights and 5,400 cargo flights would have faced delays, diversions or cancellations. By David Shepardson Dec 30 (Reuters) - A U.S. trade group representing major passenger and cargo airlines asked the Federal Communications Commission (FCC) on Thursday to halt deployment of new 5G wireless service at some airport locations. AT&T T.N and Verizon Communications VZ.N are set on Jan. 5 to deploy C-Band spectrum 5G wireless service that they won in an $80 billion government auction.
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Airlines for America, which represents American Airlines AAL.O, Delta Air Lines DAL.N, United Airlines UAL.N, FedEx FDX.N and other major carriers, says if the FAA 5G directive had been in effect in 2019, about 345,000 passenger flights and 5,400 cargo flights would have faced delays, diversions or cancellations. By David Shepardson Dec 30 (Reuters) - A U.S. trade group representing major passenger and cargo airlines asked the Federal Communications Commission (FCC) on Thursday to halt deployment of new 5G wireless service at some airport locations. Patricia Vercelli, general counsel for industry group Airlines for America, said in a memo seen by Reuters that air carriers continue to urge the FCC and FAA "to work together on a practical solution that will enable the rollout of 5G technology while prioritizing safety and avoiding any disruption to the aviation system."
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Airlines for America, which represents American Airlines AAL.O, Delta Air Lines DAL.N, United Airlines UAL.N, FedEx FDX.N and other major carriers, says if the FAA 5G directive had been in effect in 2019, about 345,000 passenger flights and 5,400 cargo flights would have faced delays, diversions or cancellations. The FAA this month issued airworthiness directives warning 5G interference could result in flight diversions. Aviation industry groups said that was insufficient.
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3914.0
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2021-12-30 00:00:00 UTC
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Omicron, unruly passengers deter U.S. airline staff from holiday overtime
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AAL
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https://www.nasdaq.com/articles/omicron-unruly-passengers-deter-u.s.-airline-staff-from-holiday-overtime
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nan
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nan
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By Abhijith Ganapavaram and Aishwarya Nair
Dec 30 (Reuters) - U.S. airline cabin crew, pilots and support staff are reluctant to work overtime during the holiday travel season despite being lured with hefty financial incentives because of the growing fear of contracting COVID-19 and the prospect of dealing with unruly passengers, three airline unions said.
That reluctance, combined with bad weather and tight staffing at pandemic-battered airlines, led to massive flight cancellations over the past week, the unions said. The issues will likely result in more strain in the weeks ahead as the spread of the Omicron variant accelerates.
"We have negotiated holiday incentives to help with operational challenges, but there's only so far you can stretch people," Sara Nelson, international president of the Association of Flight Attendants-CWA (AFA), representing 50,000 flight attendants at 17 airlines, said in a statement.
In the months leading up to the holidays, airlines were wooing employees to ensure solid staffing, after furloughing or laying off thousands over the last 18 months as the pandemic crippled the industry.
The airline sector is also feeling added pressure as employment numbers still trail pre-pandemic levels, but the total hours worked by fewer staff has almost fully rebounded.
The industry was hopeful that staff would pick up overtime to fly a record number of passengers since the pandemic began, according to the AFA.
But the fast-spreading Omicron variant, which is leading to unprecedented COVID-19 cases in the U.S., has caused staff to re-think workloads. On Thursday, over 1,200 flights were canceled within, into, or out of the United States as of 3:29 p.m. ET, data from flight-tracking website FlightAware.com showed.
United Airlines UAL.O said the nationwide spike in Omicron cases has had a direct impact on its operations. Southwest Airlines Co LUV.N said it had yet to see any impact on its operations.
JetBlue Airways Corp JBLU.O said it was cutting its schedule through Jan. 13 by about 1,280 flights due to crew members getting sick.
Delta Air Lines Inc DAL.N said incentive pay is being offered to flight crews but did not elaborate further.
American Airlines Group Inc AAL.O, Alaska Air Group Inc ALK.N, Spirit Airlines Inc SAVE.N, Skywest Inc SKYW.O and Hawaiian Holdings Inc HA.O did not immediately respond to a request for comment.
The U.S. Federal Aviation Administration (FAA) said on Thursday that an increasing number of agency employees had tested positive for COVID-19.
"To maintain safety, traffic volume at some facilities could be reduced, which might result in delays during busy periods," an FAA spokesperson said.
TESTY, DIFFICULT PASSENGERS
Violent skirmishes between passengers and flight crew have also hit a record high this year, prompting U.S. regulators to crack down harder. The FAA in early November said it had referred more than three dozen unruly passengers to the FBI for potential criminal prosecution.
Still, many cabin crews fret about their safety on board.
"It's not worth the risk when tensions are high to go out there and risk getting hurt or possibly disabled on the job," said Thom McDaniel, International Vice President at the Transport Workers Union of America (TWU), which represents over 150,000 members across several sectors, including airlines.
For example, U.S. prosecutors in Colorado charged a 20-year-old California man with assaulting a flight attendant on an Oct. 27 American Airlines flight bound for Santa Ana, California, that forced the pilots to divert the flight.
Both AFA and TWU have made public calls for regulators to address the rising incidents on board.
JUICY INCENTIVE PAY NOT ENOUGH
Airlines have offered bonuses and up to triple pay for employees working during the holidays, but few are biting.
"A lot of flight attendants are not willing to pick up (extra shifts), even for extra pay because they fear for their own safety," McDaniel said.
Some pilots have also rebuffed extra pay. The American Airlines' pilot union had declined the company's offer of as much as double pay for working during the holidays, according to an internal memo seen by Reuters last month.
"We have limits by the FAA and those sometimes are approached, but what you have is a human limit," said Allied Pilots Association spokesman Dennis Tajer, who represents American Airlines pilots.
The Allied Pilots Association representing Delta pilots said resolving scheduling issues will be a priority when the union returns to contract negotiations with the airline in January.
Air transportation: Getting more with lesshttps://tmsnrt.rs/3FGUUS7
Air transportation: Getting more with lesshttps://tmsnrt.rs/3zjcb19
(Reporting by Abhijith Ganapavaram and Aishwarya Nair in Bengaluru, additional reporting by Dan Burns in New York and Eric M. Johnson in Seattle; Editing by Ben Klayman and Bernard Orr)
((Abhijith.G@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group Inc AAL.O, Alaska Air Group Inc ALK.N, Spirit Airlines Inc SAVE.N, Skywest Inc SKYW.O and Hawaiian Holdings Inc HA.O did not immediately respond to a request for comment. That reluctance, combined with bad weather and tight staffing at pandemic-battered airlines, led to massive flight cancellations over the past week, the unions said. The airline sector is also feeling added pressure as employment numbers still trail pre-pandemic levels, but the total hours worked by fewer staff has almost fully rebounded.
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American Airlines Group Inc AAL.O, Alaska Air Group Inc ALK.N, Spirit Airlines Inc SAVE.N, Skywest Inc SKYW.O and Hawaiian Holdings Inc HA.O did not immediately respond to a request for comment. By Abhijith Ganapavaram and Aishwarya Nair Dec 30 (Reuters) - U.S. airline cabin crew, pilots and support staff are reluctant to work overtime during the holiday travel season despite being lured with hefty financial incentives because of the growing fear of contracting COVID-19 and the prospect of dealing with unruly passengers, three airline unions said. The Allied Pilots Association representing Delta pilots said resolving scheduling issues will be a priority when the union returns to contract negotiations with the airline in January.
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American Airlines Group Inc AAL.O, Alaska Air Group Inc ALK.N, Spirit Airlines Inc SAVE.N, Skywest Inc SKYW.O and Hawaiian Holdings Inc HA.O did not immediately respond to a request for comment. By Abhijith Ganapavaram and Aishwarya Nair Dec 30 (Reuters) - U.S. airline cabin crew, pilots and support staff are reluctant to work overtime during the holiday travel season despite being lured with hefty financial incentives because of the growing fear of contracting COVID-19 and the prospect of dealing with unruly passengers, three airline unions said. "We have negotiated holiday incentives to help with operational challenges, but there's only so far you can stretch people," Sara Nelson, international president of the Association of Flight Attendants-CWA (AFA), representing 50,000 flight attendants at 17 airlines, said in a statement.
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American Airlines Group Inc AAL.O, Alaska Air Group Inc ALK.N, Spirit Airlines Inc SAVE.N, Skywest Inc SKYW.O and Hawaiian Holdings Inc HA.O did not immediately respond to a request for comment. "We have negotiated holiday incentives to help with operational challenges, but there's only so far you can stretch people," Sara Nelson, international president of the Association of Flight Attendants-CWA (AFA), representing 50,000 flight attendants at 17 airlines, said in a statement. On Thursday, over 1,200 flights were canceled within, into, or out of the United States as of 3:29 p.m.
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3915.0
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2021-12-30 00:00:00 UTC
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U.S. airline group seeks 5G wireless deployment delay near airports
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AAL
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https://www.nasdaq.com/articles/u.s.-airline-group-seeks-5g-wireless-deployment-delay-near-airports
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nan
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nan
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Dec 30 (Reuters) - A U.S. trade group representing major passenger and cargo airlines asked the Federal Communications Commission on Thursday to halt deployment of new 5G wireless service at some airport locations.
AT&T T.N and Verizon Communications VZ.N are set on Jan. 5 to deploy C-Band spectrum 5G wireless service that they won in an $80 billion government auction. The aviation industry and the Federal Aviation Administration have raised concerns about potential interference of 5G with sensitive aircraft electronics like radio altimeters that could delay or divert flights.
(Reporting by David Shepardson; Editing by Leslie Adler)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dec 30 (Reuters) - A U.S. trade group representing major passenger and cargo airlines asked the Federal Communications Commission on Thursday to halt deployment of new 5G wireless service at some airport locations. AT&T T.N and Verizon Communications VZ.N are set on Jan. 5 to deploy C-Band spectrum 5G wireless service that they won in an $80 billion government auction. The aviation industry and the Federal Aviation Administration have raised concerns about potential interference of 5G with sensitive aircraft electronics like radio altimeters that could delay or divert flights.
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Dec 30 (Reuters) - A U.S. trade group representing major passenger and cargo airlines asked the Federal Communications Commission on Thursday to halt deployment of new 5G wireless service at some airport locations. AT&T T.N and Verizon Communications VZ.N are set on Jan. 5 to deploy C-Band spectrum 5G wireless service that they won in an $80 billion government auction. The aviation industry and the Federal Aviation Administration have raised concerns about potential interference of 5G with sensitive aircraft electronics like radio altimeters that could delay or divert flights.
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Dec 30 (Reuters) - A U.S. trade group representing major passenger and cargo airlines asked the Federal Communications Commission on Thursday to halt deployment of new 5G wireless service at some airport locations. The aviation industry and the Federal Aviation Administration have raised concerns about potential interference of 5G with sensitive aircraft electronics like radio altimeters that could delay or divert flights. (Reporting by David Shepardson; Editing by Leslie Adler) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dec 30 (Reuters) - A U.S. trade group representing major passenger and cargo airlines asked the Federal Communications Commission on Thursday to halt deployment of new 5G wireless service at some airport locations. AT&T T.N and Verizon Communications VZ.N are set on Jan. 5 to deploy C-Band spectrum 5G wireless service that they won in an $80 billion government auction. The aviation industry and the Federal Aviation Administration have raised concerns about potential interference of 5G with sensitive aircraft electronics like radio altimeters that could delay or divert flights.
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3916.0
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2021-12-30 00:00:00 UTC
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AAL February 2022 Options Begin Trading
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AAL
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https://www.nasdaq.com/articles/aal-february-2022-options-begin-trading-0
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nan
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nan
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Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading today, for the February 2022 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new February 2022 contracts and identified one put and one call contract of particular interest.
The put contract at the $17.50 strike price has a current bid of 81 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $17.50, but will also collect the premium, putting the cost basis of the shares at $16.69 (before broker commissions). To an investor already interested in purchasing shares of AAL, that could represent an attractive alternative to paying $18.26/share today.
Because the $17.50 strike represents an approximate 4% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 4.63% return on the cash commitment, or 39.29% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for American Airlines Group Inc, and highlighting in green where the $17.50 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $18.50 strike price has a current bid of $1.04. If an investor was to purchase shares of AAL stock at the current price level of $18.26/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $18.50. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 7.01% if the stock gets called away at the February 2022 expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if AAL shares really soar, which is why looking at the trailing twelve month trading history for American Airlines Group Inc, as well as studying the business fundamentals becomes important. Below is a chart showing AAL's trailing twelve month trading history, with the $18.50 strike highlighted in red:
Considering the fact that the $18.50 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 5.70% boost of extra return to the investor, or 48.35% annualized, which we refer to as the YieldBoost.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 252 trading day closing values as well as today's price of $18.26) to be 47%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Of course, a lot of upside could potentially be left on the table if AAL shares really soar, which is why looking at the trailing twelve month trading history for American Airlines Group Inc, as well as studying the business fundamentals becomes important. Below is a chart showing AAL's trailing twelve month trading history, with the $18.50 strike highlighted in red: Considering the fact that the $18.50 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading today, for the February 2022 expiration.
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Below is a chart showing AAL's trailing twelve month trading history, with the $18.50 strike highlighted in red: Considering the fact that the $18.50 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading today, for the February 2022 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new February 2022 contracts and identified one put and one call contract of particular interest.
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Below is a chart showing AAL's trailing twelve month trading history, with the $18.50 strike highlighted in red: Considering the fact that the $18.50 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading today, for the February 2022 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new February 2022 contracts and identified one put and one call contract of particular interest.
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Below is a chart showing AAL's trailing twelve month trading history, with the $18.50 strike highlighted in red: Considering the fact that the $18.50 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading today, for the February 2022 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new February 2022 contracts and identified one put and one call contract of particular interest.
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3917.0
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2021-12-29 00:00:00 UTC
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American Airlines Stock Is Diving Into Long-Term Support Levels
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AAL
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https://www.nasdaq.com/articles/american-airlines-stock-is-diving-into-long-term-support-levels
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
I don’t chase headlines, but last weekend they were in my face about airlines cancellations. Due to high Covid-19 infections, companies cancelled thousands of flights globally. Therefore contemplating investing in American Airlines (NASDAQ:AAL) stock seems counterintuitive today.
Source: GagliardiPhotography / Shutterstock.com
But that’s what we are doing, because I have a simple thesis. AAL stock is hovering above a solid support zone. Losing that level will take extraordinarily bad circumstances that are not on the horizon now. This presents a compelling long-term opportunity.
Short term, it could get a bit bumpier into January.
Before I present the evidence of how significant the support zone is, we have to address the fundamentals. Sadly the story there is pretty murky and won’t be much help. The pandemic completely demolished business for all travel and leisure companies. They lost their revenue streams for months at a time. And it is a miracle that more of them didn’t go bankrupt.
Thanks to the low-interest-rate environment, most of them borrowed to survive these wounds. The government also helped as much as it could. But the result of it all is that the fundamentals for AAL stock are not as reliable now as they usually are. Judging the company outlook by its current financials is unfair.
The Business Is Still Recovering
The industry is nowhere near being back to normal. Just this weekend we recorded the highest levels of Covid-19 infections. Even though the U.S. authorities are relaxing the quarantining guidelines, the pandemic is still in full bloom. Luckily by now we know a bit more about it, so we are still able to move around. Mask mandates are back, and vaccinations efforts continue.
7 Top Stocks to Buy If You're Betting on a Santa Rally
If there is another lockdown, AAL stock will go much lower. For now, this is not a likely scenario, as the regulator tones have mellowed out a bit. Having vaccines, and the experience treating the disease, has given the medical community some confidence. This is resulting in less-strict lockdown rules globally.
Since the fundamentals don’t make the argument, today I will lean on the chart. When the world was perfect in 2019, AAL stock was already struggling. Then, after the 2020 outbreak, it just fell off a cliff. Once AAL lost $24 per share it fell into a crater. It took it three months to place a tradable bottom.
From there, the exuberance was too much trying to regain the $24 ledge. The effort quickly fizzled and shares reverted almost back to the lows. Three months later, the swoon that followed almost took the stock back to the pandemic lows. However the bulls consolidated well and were able and rally hard. Earlier this year they even reached the pandemic gap.
While that was an impressive feat, it too faded. In fact, it failed a second time in June. Since then, AAL stock has been trading in a descending channel of lower-highs and lower-lows. And therein lies the opportunity, because it is now approaching $16 per share. The bulls have defended it well for 18 months.
AAL Stock Holders Will Get Bolder Lower
Source: Charts by TradingView
Furthermore, there is more support from the volume profile, suggesting strong hands. The owners of the stock now have better conviction then at the depth of the pandemic. There should be no intrinsic reason to go lower without a market-wide correction. Therefore, the bullish thesis now in AAL stock also depends on the market into 2022.
Investors can simply buy a starter position now for the long term. Those who know options can also ameliorate their positions using those. There are many tricks that you can overlay on top of owning equities to make them better. Selling puts or covered calls are popular strategies that help mitigate some risk.
Make no mistake about it, the bears are in charge of the AAL price action overall. And this is not a recent development from the pandemic. It has been free falling in a descending channel since 2018. It peaked at $59 per share and never went back. The investors now are in the process of trying to reverse the trend.
To help them with that, we have to go back even further. Out of the 2008 financial crisis, the stock really took off from the levels that are just below current price. Therefore it will take extraordinary events again this time around. I told you this is more about chart talk than stock talk, and that is by default. When the fundamentals are of no use we have to get creative.
On the date of publication, Nicolas Chahine did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Nicolas Chahine is the managing director of SellSpreads.com.
The post American Airlines Stock Is Diving Into Long-Term Support Levels appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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AAL Stock Holders Will Get Bolder Lower Source: Charts by TradingView Furthermore, there is more support from the volume profile, suggesting strong hands. Therefore contemplating investing in American Airlines (NASDAQ:AAL) stock seems counterintuitive today. AAL stock is hovering above a solid support zone.
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Therefore contemplating investing in American Airlines (NASDAQ:AAL) stock seems counterintuitive today. AAL stock is hovering above a solid support zone. But the result of it all is that the fundamentals for AAL stock are not as reliable now as they usually are.
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7 Top Stocks to Buy If You're Betting on a Santa Rally If there is another lockdown, AAL stock will go much lower. Therefore contemplating investing in American Airlines (NASDAQ:AAL) stock seems counterintuitive today. AAL stock is hovering above a solid support zone.
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But the result of it all is that the fundamentals for AAL stock are not as reliable now as they usually are. 7 Top Stocks to Buy If You're Betting on a Santa Rally If there is another lockdown, AAL stock will go much lower. Therefore contemplating investing in American Airlines (NASDAQ:AAL) stock seems counterintuitive today.
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3918.0
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2021-12-29 00:00:00 UTC
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American Airlines Group Reaches Analyst Target Price
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AAL
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https://www.nasdaq.com/articles/american-airlines-group-reaches-analyst-target-price
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nan
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nan
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In recent trading, shares of American Airlines Group Inc (Symbol: AAL) have crossed above the average analyst 12-month target price of $18.29, changing hands for $18.54/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level. Analyst reaction may also depend on the fundamental business developments that may be responsible for driving the stock price higher — if things are looking up for the company, perhaps it is time for that target price to be raised.
There are 14 different analyst targets within the Zacks coverage universe contributing to that average for American Airlines Group Inc, but the average is just that — a mathematical average. There are analysts with lower targets than the average, including one looking for a price of $5.00. And then on the other side of the spectrum one analyst has a target as high as $29.00. The standard deviation is $7.097.
But the whole reason to look at the average AAL price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with AAL crossing above that average target price of $18.29/share, investors in AAL have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $18.29 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? Below is a table showing the current thinking of the analysts that cover American Airlines Group Inc:
RECENT AAL ANALYST RATINGS BREAKDOWN
» Current 1 Month Ago 2 Month Ago 3 Month Ago
Strong buy ratings: 3 3 3 3
Buy ratings: 0 0 0 0
Hold ratings: 7 6 7 6
Sell ratings: 2 2 2 2
Strong sell ratings: 1 1 1 2
Average rating: 2.82 2.81 2.82 2.98
The average rating presented in the last row of the above table above is from 1 to 5 where 1 is Strong Buy and 5 is Strong Sell. This article used data provided by Zacks Investment Research via Quandl.com. Get the latest Zacks research report on AAL — FREE.
The Top 25 Broker Analyst Picks of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In recent trading, shares of American Airlines Group Inc (Symbol: AAL) have crossed above the average analyst 12-month target price of $18.29, changing hands for $18.54/share. And so with AAL crossing above that average target price of $18.29/share, investors in AAL have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $18.29 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? But the whole reason to look at the average AAL price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes.
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In recent trading, shares of American Airlines Group Inc (Symbol: AAL) have crossed above the average analyst 12-month target price of $18.29, changing hands for $18.54/share. But the whole reason to look at the average AAL price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with AAL crossing above that average target price of $18.29/share, investors in AAL have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $18.29 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table?
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And so with AAL crossing above that average target price of $18.29/share, investors in AAL have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $18.29 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? In recent trading, shares of American Airlines Group Inc (Symbol: AAL) have crossed above the average analyst 12-month target price of $18.29, changing hands for $18.54/share. But the whole reason to look at the average AAL price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes.
|
In recent trading, shares of American Airlines Group Inc (Symbol: AAL) have crossed above the average analyst 12-month target price of $18.29, changing hands for $18.54/share. But the whole reason to look at the average AAL price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with AAL crossing above that average target price of $18.29/share, investors in AAL have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $18.29 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table?
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3919.0
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2021-12-28 00:00:00 UTC
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Southwest Airlines Stock, Time To Buy?
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AAL
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https://www.nasdaq.com/articles/southwest-airlines-stock-time-to-buy
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nan
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nan
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As European nations mull tighter restrictions to contain the spread of the Omicron variant, experts anticipate a similar trend in the U.S. and across the world in the coming months. As investors speculate a slower recovery timeline for the travel industry, the shares of Southwest Airlines (NYSE: LUV) have lost a quarter of their value since November. However, the passenger numbers at TSA checkpoints are just 15% below pre-pandemic levels – indicating strong air travel demand despite heightened fears and tougher Covid norms. Notably, LUV stock has lost $11 billion in market capitalization since February 2020 despite burning just $1.1 billion of operating cash over the period. Also, the domestic business contributes almost 97% of Southwest’s revenues and is likely to support earnings amid international travel blockades. Considering the negative impact of the Omicron variant for a quarter, Trefis believes that there is a sizable upside in Southwest Airlines stock. We highlight the historical trends in revenues, earnings, and stock price in an interactive dashboard analysis on Southwest Airlines Valuation. (related: Optimism In Estee Lauder Stock A Trigger For Delta Air Lines?)
How did Southwest Airlines perform in the third quarter?
In Q3 2021, Southwest Airlines reported just 17% contraction in operating revenues and a 1.6% reduction in capacity (available seat miles) over Q3 2019 – highlighting the strong uptick in passenger demand. The company earned $446 million of net income and burned $575 million of operating cash. As working capital changes had a negative impact on operating cash during the quarter, the cash on hand assisted $135 million of capital expenses and certain debt retirements. On the operational side, occupancy rate was 80.7%, almost reaching pre-Covid levels propelled by domestic demand and efficient capacity utilization.
A quick look at Southwest’s historical performance
Southwest Airlines’ Revenues grew by 13% from $19.8 billion in 2015 to $22.4 billion in 2019, driven by a slow growth in domestic air travel. The company’s net margins have remained relatively flat within the 10-12% range, but EPS increased by 30% from $3.30 in 2015 to $4.28 in 2019 due to lower shares outstanding. In 2020, the company’s top line observed a 60% (y-o-y) contraction as air traffic demand plummeted, resulting in capacity curtailment and cost control measures. (related: Are Long-Term Trends In Favor Of Boeing Stock?)
What if you’re looking for a more balanced portfolio instead? Here’s a high-quality portfolio that’s beaten the market consistently since the end of 2016.
Returns Dec 2021
MTD [1] 2021
YTD [1] 2017-21
Total [2]
LUV Return -15% -16% -21%
S&P 500 Return -3% 21% 104%
Trefis MS Portfolio Return -1% 42% 283%
[1] Month-to-date and year-to-date as of 12/21/2021
[2] Cumulative total returns since 2017
Invest with Trefis Market-Beating Portfolios
See all Trefis Price Estimates
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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As European nations mull tighter restrictions to contain the spread of the Omicron variant, experts anticipate a similar trend in the U.S. and across the world in the coming months. However, the passenger numbers at TSA checkpoints are just 15% below pre-pandemic levels – indicating strong air travel demand despite heightened fears and tougher Covid norms. In 2020, the company’s top line observed a 60% (y-o-y) contraction as air traffic demand plummeted, resulting in capacity curtailment and cost control measures.
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Notably, LUV stock has lost $11 billion in market capitalization since February 2020 despite burning just $1.1 billion of operating cash over the period. We highlight the historical trends in revenues, earnings, and stock price in an interactive dashboard analysis on Southwest Airlines Valuation. The company earned $446 million of net income and burned $575 million of operating cash.
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In Q3 2021, Southwest Airlines reported just 17% contraction in operating revenues and a 1.6% reduction in capacity (available seat miles) over Q3 2019 – highlighting the strong uptick in passenger demand. A quick look at Southwest’s historical performance Southwest Airlines’ Revenues grew by 13% from $19.8 billion in 2015 to $22.4 billion in 2019, driven by a slow growth in domestic air travel. Total [2] LUV Return -15% -16% -21% S&P 500 Return -3% 21% 104% Trefis MS Portfolio Return -1% 42% 283% [1] Month-to-date and year-to-date as of 12/21/2021 [2] Cumulative total returns since 2017 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Considering the negative impact of the Omicron variant for a quarter, Trefis believes that there is a sizable upside in Southwest Airlines stock. We highlight the historical trends in revenues, earnings, and stock price in an interactive dashboard analysis on Southwest Airlines Valuation. In Q3 2021, Southwest Airlines reported just 17% contraction in operating revenues and a 1.6% reduction in capacity (available seat miles) over Q3 2019 – highlighting the strong uptick in passenger demand.
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3920.0
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2021-12-28 00:00:00 UTC
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Vale and Anglo discuss joint development of Serpentina using Minas-Rio
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AAL
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https://www.nasdaq.com/articles/vale-and-anglo-discuss-joint-development-of-serpentina-using-minas-rio
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nan
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nan
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Adds detail on talks, context
RIO DE JANEIRO, Dec 28 (Reuters) - Vale SA VALE3.SA has begun "preliminary discussions" with Anglo American PLC AAL.L regarding a potential partnership at its Serpentina project adjacent to Anglo's Minas-Rio iron ore mine project, the Brazilian miner said on Tuesday.
A potential partnership could leverage Anglo's "processing and logistics infrastructure" from Minas-Rio, which includes a mine, a transport pipeline and a port in Rio de Janeiro state, Vale said.
No decision or commitment has been made, Vale said, adding that it "regularly evaluates alternatives and strategic partnerships" during the normal course of doing business.
Vale's securities filing came in response to a Bloomberg report last week that Vale was considering acquiring a stake in Minas-Rio. Vale could acquire either a minority of majority stake, according to the report, citing people familiar with the preliminary discussions.
Both Anglo and Vale declined to comment on the Bloomberg report.
The Serpentina project is compromised of mining rights in three municipalities in Minas Gerais state, Vale said.
(Reporting by Gram Slattery; Editing by Brad Haynes and Richard Pullin)
((gram.slattery@thomsonreuters.com; +55-11-95057-1453))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds detail on talks, context RIO DE JANEIRO, Dec 28 (Reuters) - Vale SA VALE3.SA has begun "preliminary discussions" with Anglo American PLC AAL.L regarding a potential partnership at its Serpentina project adjacent to Anglo's Minas-Rio iron ore mine project, the Brazilian miner said on Tuesday. A potential partnership could leverage Anglo's "processing and logistics infrastructure" from Minas-Rio, which includes a mine, a transport pipeline and a port in Rio de Janeiro state, Vale said. No decision or commitment has been made, Vale said, adding that it "regularly evaluates alternatives and strategic partnerships" during the normal course of doing business.
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Adds detail on talks, context RIO DE JANEIRO, Dec 28 (Reuters) - Vale SA VALE3.SA has begun "preliminary discussions" with Anglo American PLC AAL.L regarding a potential partnership at its Serpentina project adjacent to Anglo's Minas-Rio iron ore mine project, the Brazilian miner said on Tuesday. A potential partnership could leverage Anglo's "processing and logistics infrastructure" from Minas-Rio, which includes a mine, a transport pipeline and a port in Rio de Janeiro state, Vale said. Vale's securities filing came in response to a Bloomberg report last week that Vale was considering acquiring a stake in Minas-Rio.
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Adds detail on talks, context RIO DE JANEIRO, Dec 28 (Reuters) - Vale SA VALE3.SA has begun "preliminary discussions" with Anglo American PLC AAL.L regarding a potential partnership at its Serpentina project adjacent to Anglo's Minas-Rio iron ore mine project, the Brazilian miner said on Tuesday. A potential partnership could leverage Anglo's "processing and logistics infrastructure" from Minas-Rio, which includes a mine, a transport pipeline and a port in Rio de Janeiro state, Vale said. Vale's securities filing came in response to a Bloomberg report last week that Vale was considering acquiring a stake in Minas-Rio.
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Adds detail on talks, context RIO DE JANEIRO, Dec 28 (Reuters) - Vale SA VALE3.SA has begun "preliminary discussions" with Anglo American PLC AAL.L regarding a potential partnership at its Serpentina project adjacent to Anglo's Minas-Rio iron ore mine project, the Brazilian miner said on Tuesday. No decision or commitment has been made, Vale said, adding that it "regularly evaluates alternatives and strategic partnerships" during the normal course of doing business. Vale's securities filing came in response to a Bloomberg report last week that Vale was considering acquiring a stake in Minas-Rio.
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3921.0
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2021-12-28 00:00:00 UTC
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Airlines Cancel Holiday Flights Over Omicron Fear, Weather Disruptions
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AAL
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https://www.nasdaq.com/articles/airlines-cancel-holiday-flights-over-omicron-fear-weather-disruptions
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nan
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nan
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(RTTNews) - With rising Covid-19 cases in the U.S, many airlines are feeling the brunt, with many flights being canceled and the suggestion from infectious disease expert Dr Anthony Fauci that only vaccinated people must embark on domestic air travel has added to their woes.
According to reports, as a result of these travel problems, many people were stranded at airports as their flights were canceled and there was confusion over what to do next.
Airlines across the U.S and the world have been facing staff issues since many weeks with the omicron variant spreading rapidly. As the variant is known to be highly infectious, more and more people are falling sick with Covid-19.
According to reports, the average number of new U.S cases over the past week has risen more than 55 percent to 205,000 per day.
Even though Fauci recommended a vaccine mandate for domestic travel, the U.S President Joe Biden has not yet supported the plan. Biden was in favor of reducing quarantine times and the Center for Disease Control had on Monday reduced the quarantine recommendations to five-days of isolation.
Along with the Omicron variant, weather issues further disrupted the travel plans for many travelers. According to Reuters, snowy weather in the Pacific Northwest led to major disruptions, with 90 flight arrivals being canceled at the Seattle-Tacoma Airport itself.
News reports also circulated of more impending travel bans and the postponement of the Davos economic forum, which will affect business travel in general. The Davos Economic forum will most likely be moved online.
In other cases, sporting events were also canceled, with many countries bringing back strong lockdown measures.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
(RTTNews) - With rising Covid-19 cases in the U.S, many airlines are feeling the brunt, with many flights being canceled and the suggestion from infectious disease expert Dr Anthony Fauci that only vaccinated people must embark on domestic air travel has added to their woes. Even though Fauci recommended a vaccine mandate for domestic travel, the U.S President Joe Biden has not yet supported the plan. According to Reuters, snowy weather in the Pacific Northwest led to major disruptions, with 90 flight arrivals being canceled at the Seattle-Tacoma Airport itself.
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(RTTNews) - With rising Covid-19 cases in the U.S, many airlines are feeling the brunt, with many flights being canceled and the suggestion from infectious disease expert Dr Anthony Fauci that only vaccinated people must embark on domestic air travel has added to their woes. Even though Fauci recommended a vaccine mandate for domestic travel, the U.S President Joe Biden has not yet supported the plan. Along with the Omicron variant, weather issues further disrupted the travel plans for many travelers.
|
(RTTNews) - With rising Covid-19 cases in the U.S, many airlines are feeling the brunt, with many flights being canceled and the suggestion from infectious disease expert Dr Anthony Fauci that only vaccinated people must embark on domestic air travel has added to their woes. Along with the Omicron variant, weather issues further disrupted the travel plans for many travelers. News reports also circulated of more impending travel bans and the postponement of the Davos economic forum, which will affect business travel in general.
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(RTTNews) - With rising Covid-19 cases in the U.S, many airlines are feeling the brunt, with many flights being canceled and the suggestion from infectious disease expert Dr Anthony Fauci that only vaccinated people must embark on domestic air travel has added to their woes. Even though Fauci recommended a vaccine mandate for domestic travel, the U.S President Joe Biden has not yet supported the plan. Along with the Omicron variant, weather issues further disrupted the travel plans for many travelers.
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3922.0
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2021-12-27 00:00:00 UTC
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US STOCKS-S&P 500 set to open near record high on strong retail sales report
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AAL
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https://www.nasdaq.com/articles/us-stocks-sp-500-set-to-open-near-record-high-on-strong-retail-sales-report
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nan
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nan
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By Medha Singh and Anisha Sircar
Dec 27 (Reuters) - The S&P 500 was set to open near an intraday record high on Monday, as strong retail sales underscored the strength of the economy and overshadowed worries from Omicron-driven flight cancellations at the start of this year's final trading week.
Retail sales rose 8.5% during this year's holiday shopping season from Nov. 1 to Dec. 24, powered by soaring ecommerce sales, a report by Mastercard Inc MA.N showed.
"Despite the variant and travel interruptions, retail sales were up strongly, which bodes well for the economy going into the new year," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
Travel-related stocks, typically sensitive to news around the coronavirus, slid after U.S. airlines called off many flights for a third day on Sunday as surging COVID-19 cases forced Christmas weekend travelers to change plans.
Delta Air Lines DAL.N United Airlines UAL.O, American Airlines AAL.O and Southwest Airlines LUV.N dropped between 1.6% and 2.1% premarket. Cruise operators Norwegian Cruise Line Holdings NCLH.N, Royal Caribbean RCL.N and Carnival Corp CCL.N fell 2.5%-3%.
"The market will continue to rally even though the virus fear factor remains prevalent in the market," Cardillo said.
The S&P 500 closed at an all-time high on Thursday, as upbeat news related to the Omicron coronavirus variant calmed investor nerves over the highly infection strain's economic impact after it upended markets earlier this month.
Wall Street's three main indexes are eyeing a third straight yearly gain, with the benchmark S&P 500 .SPX on track to close out the year 25.8% higher. The Dow is set to rise 17.5%, while the Nasdaq is looking at a 21.4% climb.
At 8:20 a.m. ET, Dow e-minis 1YMcv1 were up 82 points, or 0.23% and S&P 500 e-minis EScv1 were up 17.25 points, or 0.37%.
Nasdaq 100 e-minis NQcv1 were up 76 points, or 0.47% as megacap company Tesla Inc TSLA.O and Microsoft Corp MSFT.O and Meta Platform FB.O firmed between 0.5% and 1.5%.
Looking ahead, thinner-than-usual trading volumes ahead of New Year could make markets susceptible to volatile moves, although the last five trading days of December and the first two days of January have boded well for U.S. stocks 75% of the time since 1945, according to CFRA Research data.
GoDaddy Inc GDDY.N rose 5.2% after a report activist investor Starboard Value LP had purchased a 6.5% stake in web services company worth about $800 million.
Chinese ride-hailing giant Didi Global Inc DIDI.N barred current and former employees from selling shares of the company indefinitely, the Financial Times reported on Monday. U.S.-listed shares of Didi dipped 0.7%.
(Reporting by Medha Singh and Anisha Sircar in Bengaluru; editing by Uttaresh.V)
((Medha.Singh@thomsonreuters.com; within U.S. +1646 223 8780, outside U.S. +91 80 6182 2802; Twitter: https://twitter.com/medhasinghs;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Delta Air Lines DAL.N United Airlines UAL.O, American Airlines AAL.O and Southwest Airlines LUV.N dropped between 1.6% and 2.1% premarket. By Medha Singh and Anisha Sircar Dec 27 (Reuters) - The S&P 500 was set to open near an intraday record high on Monday, as strong retail sales underscored the strength of the economy and overshadowed worries from Omicron-driven flight cancellations at the start of this year's final trading week. "Despite the variant and travel interruptions, retail sales were up strongly, which bodes well for the economy going into the new year," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
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Delta Air Lines DAL.N United Airlines UAL.O, American Airlines AAL.O and Southwest Airlines LUV.N dropped between 1.6% and 2.1% premarket. By Medha Singh and Anisha Sircar Dec 27 (Reuters) - The S&P 500 was set to open near an intraday record high on Monday, as strong retail sales underscored the strength of the economy and overshadowed worries from Omicron-driven flight cancellations at the start of this year's final trading week. "Despite the variant and travel interruptions, retail sales were up strongly, which bodes well for the economy going into the new year," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
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Delta Air Lines DAL.N United Airlines UAL.O, American Airlines AAL.O and Southwest Airlines LUV.N dropped between 1.6% and 2.1% premarket. By Medha Singh and Anisha Sircar Dec 27 (Reuters) - The S&P 500 was set to open near an intraday record high on Monday, as strong retail sales underscored the strength of the economy and overshadowed worries from Omicron-driven flight cancellations at the start of this year's final trading week. "Despite the variant and travel interruptions, retail sales were up strongly, which bodes well for the economy going into the new year," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
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Delta Air Lines DAL.N United Airlines UAL.O, American Airlines AAL.O and Southwest Airlines LUV.N dropped between 1.6% and 2.1% premarket. By Medha Singh and Anisha Sircar Dec 27 (Reuters) - The S&P 500 was set to open near an intraday record high on Monday, as strong retail sales underscored the strength of the economy and overshadowed worries from Omicron-driven flight cancellations at the start of this year's final trading week. "Despite the variant and travel interruptions, retail sales were up strongly, which bodes well for the economy going into the new year," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
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3923.0
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2021-12-27 00:00:00 UTC
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JetBlue, United, Delta, American Airlines Cancel 950 Flights on Christmas Day – Report
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AAL
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https://www.nasdaq.com/articles/jetblue-united-delta-american-airlines-cancel-950-flights-on-christmas-day-report
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nan
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nan
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Four major U.S. airlines - American Airlines Group, Inc. (NASDAQ:AAL), JetBlue Airways Corp. (NASDAQ:JBLU), United Airlines Holdings, Inc. (NASDAQ:UAL), and Delta Air Lines, Inc. (DAL), canceled a total of 950 flights on Christmas Day due to the spread of the omicron variant of COVID-19, ABC News said.
These cancellations followed 454 Christmas Eve flight cancellations by United, Delta, and JetBlue.
Delta Air Lines canceled nearly 90 flights on December 24, 308 flights on December 25, and 69 flights on December 26. For United Airlines, flight cancellations stood at 201 on December 24, 240 on December 25, and 85 on December 26.
JetBlue canceled nearly 80 flights on Christmas Eve and 123 flights on December 25.
Meanwhile, American Airlines canceled 88 flights on Christmas Day.
The company said, “Our operation has been running smoothly, and unfortunately a number of COVID-related sick calls led us to make the difficult decision to pre-cancel some flights scheduled for today.”
Wall Street’s Take
Last week, Evercore ISI analyst Duane Pfennigwerth maintained a Buy rating on DAL stock with a price target of $55 (40% upside potential).
The analyst expects the company to report earnings per share (EPS) of $1.90 in the fourth quarter of 2021.
Overall, the stock has a Moderate Buy consensus rating based on 9 Buys and 4 Holds. The average Delta Air Lines stock forecast of $52.17 implies 32.8% upside potential. Shares have lost 8.3% over the past six months.
Website Traffic
TipRanks’ Website Traffic Tool, which uses data from SEMrush Holdings (SEMR), the world’s biggest website usage monitoring service, offers insight into Delta’s performance.
According to the tool, compared to the previous year, the company’s website traffic registered a 29.5% rise in global visits in November. Moreover, website traffic has increased 34.2% year-to-date against the same period last year.
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Wynn Resorts Reveal Big Game Promotion; Shares Pop 3.5%
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Four major U.S. airlines - American Airlines Group, Inc. (NASDAQ:AAL), JetBlue Airways Corp. (NASDAQ:JBLU), United Airlines Holdings, Inc. (NASDAQ:UAL), and Delta Air Lines, Inc. (DAL), canceled a total of 950 flights on Christmas Day due to the spread of the omicron variant of COVID-19, ABC News said. The company said, “Our operation has been running smoothly, and unfortunately a number of COVID-related sick calls led us to make the difficult decision to pre-cancel some flights scheduled for today.” Wall Street’s Take Last week, Evercore ISI analyst Duane Pfennigwerth maintained a Buy rating on DAL stock with a price target of $55 (40% upside potential). According to the tool, compared to the previous year, the company’s website traffic registered a 29.5% rise in global visits in November.
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Four major U.S. airlines - American Airlines Group, Inc. (NASDAQ:AAL), JetBlue Airways Corp. (NASDAQ:JBLU), United Airlines Holdings, Inc. (NASDAQ:UAL), and Delta Air Lines, Inc. (DAL), canceled a total of 950 flights on Christmas Day due to the spread of the omicron variant of COVID-19, ABC News said. These cancellations followed 454 Christmas Eve flight cancellations by United, Delta, and JetBlue. Delta Air Lines canceled nearly 90 flights on December 24, 308 flights on December 25, and 69 flights on December 26.
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Four major U.S. airlines - American Airlines Group, Inc. (NASDAQ:AAL), JetBlue Airways Corp. (NASDAQ:JBLU), United Airlines Holdings, Inc. (NASDAQ:UAL), and Delta Air Lines, Inc. (DAL), canceled a total of 950 flights on Christmas Day due to the spread of the omicron variant of COVID-19, ABC News said. Delta Air Lines canceled nearly 90 flights on December 24, 308 flights on December 25, and 69 flights on December 26. Website Traffic TipRanks’ Website Traffic Tool, which uses data from SEMrush Holdings (SEMR), the world’s biggest website usage monitoring service, offers insight into Delta’s performance.
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Four major U.S. airlines - American Airlines Group, Inc. (NASDAQ:AAL), JetBlue Airways Corp. (NASDAQ:JBLU), United Airlines Holdings, Inc. (NASDAQ:UAL), and Delta Air Lines, Inc. (DAL), canceled a total of 950 flights on Christmas Day due to the spread of the omicron variant of COVID-19, ABC News said. Delta Air Lines canceled nearly 90 flights on December 24, 308 flights on December 25, and 69 flights on December 26. The company said, “Our operation has been running smoothly, and unfortunately a number of COVID-related sick calls led us to make the difficult decision to pre-cancel some flights scheduled for today.” Wall Street’s Take Last week, Evercore ISI analyst Duane Pfennigwerth maintained a Buy rating on DAL stock with a price target of $55 (40% upside potential).
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3924.0
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2021-12-27 00:00:00 UTC
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Rising Omicron cases disrupt air travel, 800 more flights canceled
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AAL
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https://www.nasdaq.com/articles/rising-omicron-cases-disrupt-air-travel-800-more-flights-canceled
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nan
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nan
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Dec 27 (Reuters) - U.S. airlines canceled about 800 more flights on Monday after nixing thousands of flights during the Christmas holiday weekend, as Omicron cases across the country rise, forcing crews to isolate and travelers to seek other forms of travel.
Shares of American Airlines Group Inc AAL.O, United Airlines Holdings Inc UAL.O, Delta Air Line Inc DAL.N and Southwest Airlines Co LUV.N were down between 2% and 3% in trading before the opening bell.
Nearly 740 flights were canceled within, into, or out of the United States by early Monday morning, a tally on flight-tracking website FlightAware.com showed.
The flight cancellations on Monday were on top of over 3,000 cancellations during the Christmas holiday weekend, typically a peak time for travel for Americans.
With rising infections, airlines have been forced to cancel flights, with pilots and cabin crew needing to quarantine, while poor weather in some areas added to travelers woes.
Delta, United, Southwest and American did not immediately respond to Reuters' requests for comment.
Cruise operators Norwegian Cruise Line Holdings NCLH.N, Royal Caribbean Cruises Ltd RCL.N and Carnival Corp CCL.N were also down between 1.3% and 2.4%.
Over the weekend, at least three cruise ships were forced to return to port after COVID-19 cases were detected on board, according to media reports.
Travel firms Booking Holdings Inc BKNG.O, Airbnb Inc ABNB.O, Expedia Group Inc EXPE.O and Tripadvisor Inc TRIP.O were all down between 0.6% and 1.8%.
(Reporting by Aishwarya Nair in Bengaluru; Editing by Anil D'Silva)
((Aishwarya.Nair@thomsonreuters.com; +91-8067494421;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of American Airlines Group Inc AAL.O, United Airlines Holdings Inc UAL.O, Delta Air Line Inc DAL.N and Southwest Airlines Co LUV.N were down between 2% and 3% in trading before the opening bell. Nearly 740 flights were canceled within, into, or out of the United States by early Monday morning, a tally on flight-tracking website FlightAware.com showed. With rising infections, airlines have been forced to cancel flights, with pilots and cabin crew needing to quarantine, while poor weather in some areas added to travelers woes.
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Shares of American Airlines Group Inc AAL.O, United Airlines Holdings Inc UAL.O, Delta Air Line Inc DAL.N and Southwest Airlines Co LUV.N were down between 2% and 3% in trading before the opening bell. Dec 27 (Reuters) - U.S. airlines canceled about 800 more flights on Monday after nixing thousands of flights during the Christmas holiday weekend, as Omicron cases across the country rise, forcing crews to isolate and travelers to seek other forms of travel. Delta, United, Southwest and American did not immediately respond to Reuters' requests for comment.
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Shares of American Airlines Group Inc AAL.O, United Airlines Holdings Inc UAL.O, Delta Air Line Inc DAL.N and Southwest Airlines Co LUV.N were down between 2% and 3% in trading before the opening bell. Dec 27 (Reuters) - U.S. airlines canceled about 800 more flights on Monday after nixing thousands of flights during the Christmas holiday weekend, as Omicron cases across the country rise, forcing crews to isolate and travelers to seek other forms of travel. The flight cancellations on Monday were on top of over 3,000 cancellations during the Christmas holiday weekend, typically a peak time for travel for Americans.
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Shares of American Airlines Group Inc AAL.O, United Airlines Holdings Inc UAL.O, Delta Air Line Inc DAL.N and Southwest Airlines Co LUV.N were down between 2% and 3% in trading before the opening bell. Dec 27 (Reuters) - U.S. airlines canceled about 800 more flights on Monday after nixing thousands of flights during the Christmas holiday weekend, as Omicron cases across the country rise, forcing crews to isolate and travelers to seek other forms of travel. The flight cancellations on Monday were on top of over 3,000 cancellations during the Christmas holiday weekend, typically a peak time for travel for Americans.
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3925.0
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2021-12-27 00:00:00 UTC
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Travel stocks fall as Omicron spurs mass flight cancellations for fourth day
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AAL
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https://www.nasdaq.com/articles/travel-stocks-fall-as-omicron-spurs-mass-flight-cancellations-for-fourth-day
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nan
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nan
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Recasts; adds Southwest response, background; updates shares
Dec 27 (Reuters) - Shares of U.S. airlines and other travel-related companies fell on Monday as rising Omicron cases and weather-related problems forced the cancellation of hundreds more flights, leaving travelers stranded across the country during the holidays.
Over 800 flights were canceled within, into, or out of the United States on Monday, data from flight-tracking website FlightAware.com showed.
That was on top of over 3,000 flight cancellations during the Christmas holiday weekend, typically a peak time for travel for Americans.
Shares of American Airlines Group Inc AAL.O, United Airlines Holdings Inc UAL.O, Delta Air Lines Inc DAL.N and Southwest Airlines Co LUV.N were down between 2% and 3% in early trade.
Most airline stocks have rallied this year on hopes of a travel boom as travelers start visiting friends and family after dealing with pandemic-related restrictions last year.
However, staff shortages at airlines, weather-related disruptions and now the fast-spreading Omicron variant have disrupted flights frequently this year.
Poor weather in some areas has also added to travelers woes.
Southwest Airlines said it had canceled about 50 of the 3,600 flights scheduled Monday due to weather-related problems. Delta, United, and American did not immediately respond to Reuters' requests for comment.
Separately, the Shanghai government said on Monday that the country's aviation regulator would suspend two China Eastern Airlines Corp Ltd 600115.SS flights from New York to Shanghai from Jan. 3 due to rising COVID-19 cases.
Other travel stocks also came under pressure as Omicron triggers fears of tougher restrictions.
Shares of Norwegian Cruise Line Holdings NCLH.N, Royal Caribbean Cruises Ltd RCL.N and Carnival Corp CCL.N were down between 1.3% and 2.4%.
At least three cruise ships were forced to return to port over the weekend after COVID-19 cases were detected on board, according to media reports.
Travel firms Booking Holdings Inc BKNG.O, Airbnb Inc ABNB.O, Expedia Group Inc EXPE.O and Tripadvisor Inc TRIP.O were all down between 0.6% and 1.8%.
Hotel operators Marriott International Inc MAR.O, Hilton Worldwide Holdings Inc HLT.N and Hyatt Hotels Corp H.Nfell between 1% and 2%.
(Reporting by Aishwarya Nair and Abhijith Ganapavaram in Bengaluru; Editing by Anil D'Silva)
((Aishwarya.Nair@thomsonreuters.com; +91-8067494421;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of American Airlines Group Inc AAL.O, United Airlines Holdings Inc UAL.O, Delta Air Lines Inc DAL.N and Southwest Airlines Co LUV.N were down between 2% and 3% in early trade. Recasts; adds Southwest response, background; updates shares Dec 27 (Reuters) - Shares of U.S. airlines and other travel-related companies fell on Monday as rising Omicron cases and weather-related problems forced the cancellation of hundreds more flights, leaving travelers stranded across the country during the holidays. That was on top of over 3,000 flight cancellations during the Christmas holiday weekend, typically a peak time for travel for Americans.
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Shares of American Airlines Group Inc AAL.O, United Airlines Holdings Inc UAL.O, Delta Air Lines Inc DAL.N and Southwest Airlines Co LUV.N were down between 2% and 3% in early trade. Recasts; adds Southwest response, background; updates shares Dec 27 (Reuters) - Shares of U.S. airlines and other travel-related companies fell on Monday as rising Omicron cases and weather-related problems forced the cancellation of hundreds more flights, leaving travelers stranded across the country during the holidays. Southwest Airlines said it had canceled about 50 of the 3,600 flights scheduled Monday due to weather-related problems.
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Shares of American Airlines Group Inc AAL.O, United Airlines Holdings Inc UAL.O, Delta Air Lines Inc DAL.N and Southwest Airlines Co LUV.N were down between 2% and 3% in early trade. Recasts; adds Southwest response, background; updates shares Dec 27 (Reuters) - Shares of U.S. airlines and other travel-related companies fell on Monday as rising Omicron cases and weather-related problems forced the cancellation of hundreds more flights, leaving travelers stranded across the country during the holidays. Most airline stocks have rallied this year on hopes of a travel boom as travelers start visiting friends and family after dealing with pandemic-related restrictions last year.
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Shares of American Airlines Group Inc AAL.O, United Airlines Holdings Inc UAL.O, Delta Air Lines Inc DAL.N and Southwest Airlines Co LUV.N were down between 2% and 3% in early trade. Recasts; adds Southwest response, background; updates shares Dec 27 (Reuters) - Shares of U.S. airlines and other travel-related companies fell on Monday as rising Omicron cases and weather-related problems forced the cancellation of hundreds more flights, leaving travelers stranded across the country during the holidays. Southwest Airlines said it had canceled about 50 of the 3,600 flights scheduled Monday due to weather-related problems.
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3926.0
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2021-12-27 00:00:00 UTC
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US STOCKS-Megacap tech stocks lift futures; Omicron risks linger
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AAL
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https://www.nasdaq.com/articles/us-stocks-megacap-tech-stocks-lift-futures-omicron-risks-linger
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nan
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nan
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By Medha Singh
Dec 27 (Reuters) - U.S. stock index futures inched higher on Monday, boosted by megacap companies, while hundreds of Omicron-driven flight cancellations kept investors on edge at the start of this year's final trading week.
Travel-related stocks, typically sensitive to news around the coronavirus, slid after U.S. airlines called off many flights for a third day on Sunday as surging COVID-19 cases forced Christmas weekend travelers to change plans.
Delta Air Lines DAL.N United Airlines UAL.O, American Airlines AAL.O and Southwest Airlines LUV.N dropped between 1.5% and 2.8% premarket. Cruise operators Norwegian Cruise Line Holdings NCLH.N, Royal Caribbean RCL.N and Carnival Corp CCL.N fell 2%-2.8%.
The S&P 500 closed at a record high on Thursday, as upbeat news related to the Omicron coronavirus variant calmed investor nerves over the highly infection strain's economic impact after it upended markets earlier this month.
Wall Street's three main indexes are eyeing a third straight yearly gain, with the benchmark S&P 500 .SPX on track to close out the year 25.8% higher. The Dow is set to rise 17.5%, while the Nasdaq is looking at a 21.4% climb.
At 6:12 a.m. ET, Dow e-minis 1YMcv1 were up 25 points, or 0.07% and S&P 500 e-minis EScv1 were up 9 points, or 0.19%.
Nasdaq 100 e-minis NQcv1 were up 42.5 points, or 0.26% as megacap companies Tesla Inc TSLA.O and Microsoft Corp MSFT.O and Meta Platform FB.O firmed between 0.5% and 1%.
Looking ahead, thinner-than-usual trading volumes ahead of New Year could make markets susceptible to volatile moves.
(Reporting by Medha Singh in Bengaluru; editing by Uttaresh.V)
((Medha.Singh@thomsonreuters.com; within U.S. +1646 223 8780, outside U.S. +91 80 6182 2802; Twitter: https://twitter.com/medhasinghs;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Delta Air Lines DAL.N United Airlines UAL.O, American Airlines AAL.O and Southwest Airlines LUV.N dropped between 1.5% and 2.8% premarket. By Medha Singh Dec 27 (Reuters) - U.S. stock index futures inched higher on Monday, boosted by megacap companies, while hundreds of Omicron-driven flight cancellations kept investors on edge at the start of this year's final trading week. Travel-related stocks, typically sensitive to news around the coronavirus, slid after U.S. airlines called off many flights for a third day on Sunday as surging COVID-19 cases forced Christmas weekend travelers to change plans.
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Delta Air Lines DAL.N United Airlines UAL.O, American Airlines AAL.O and Southwest Airlines LUV.N dropped between 1.5% and 2.8% premarket. By Medha Singh Dec 27 (Reuters) - U.S. stock index futures inched higher on Monday, boosted by megacap companies, while hundreds of Omicron-driven flight cancellations kept investors on edge at the start of this year's final trading week. Nasdaq 100 e-minis NQcv1 were up 42.5 points, or 0.26% as megacap companies Tesla Inc TSLA.O and Microsoft Corp MSFT.O and Meta Platform FB.O firmed between 0.5% and 1%.
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Delta Air Lines DAL.N United Airlines UAL.O, American Airlines AAL.O and Southwest Airlines LUV.N dropped between 1.5% and 2.8% premarket. By Medha Singh Dec 27 (Reuters) - U.S. stock index futures inched higher on Monday, boosted by megacap companies, while hundreds of Omicron-driven flight cancellations kept investors on edge at the start of this year's final trading week. ET, Dow e-minis 1YMcv1 were up 25 points, or 0.07% and S&P 500 e-minis EScv1 were up 9 points, or 0.19%.
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Delta Air Lines DAL.N United Airlines UAL.O, American Airlines AAL.O and Southwest Airlines LUV.N dropped between 1.5% and 2.8% premarket. By Medha Singh Dec 27 (Reuters) - U.S. stock index futures inched higher on Monday, boosted by megacap companies, while hundreds of Omicron-driven flight cancellations kept investors on edge at the start of this year's final trading week. Travel-related stocks, typically sensitive to news around the coronavirus, slid after U.S. airlines called off many flights for a third day on Sunday as surging COVID-19 cases forced Christmas weekend travelers to change plans.
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3927.0
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2021-12-25 00:00:00 UTC
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U.S. airlines scrap hundreds of Xmas Day flights due to Omicron
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AAL
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https://www.nasdaq.com/articles/u.s.-airlines-scrap-hundreds-of-xmas-day-flights-due-to-omicron
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nan
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nan
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By Humeyra Pamuk and Joel Schectman
WASHINGTON, Dec 25 (Reuters) - U.S. airlines canceled close to 900 flights on Saturday, the second straight day of massive cancellations as surging COVID-19 infections have sidelined some pilots and other crew members, upending plans for tens of thousands of holiday travelers over the Christmas weekend.
More than 880 Christmas Day flights, including domestic flights and those into or out of the country, were canceled, up from 690 on Christmas Eve, according to a running tally on flight-tracking website FlightAware.com. Around 800 flights were delayed.
The Christmas holidays are typically a peak time for air travel, but the rapid spread of the highly transmissible Omicron variant has led to a sharp increase in COVID-19 infections, forcing airlines to cancel flights as pilots and crew need to be quarantined.
United Airlines UAL.O canceled 230 flights, a company spokesperson said.
"The nationwide spike in Omicron cases this week has had a direct impact on our flight crews and the people who run our operation," spokesperson Maddie King said. She added that the cancellations made up a small portion of United's 4,000 average daily flights during the holiday season.
"We are working hard to rebook as many people as possible and get them on their way for the holidays," she said.
FlightAware data showed that Delta Air Lines DAL.N scrubbed 292 flights as of 11:23 a.m. EST (1623 GMT), while a spokesperson for American Airlines AAL.O said the carrier had to call off 90 mainland flights. Globally, a total of more than 2,500 flights were called off on Saturday and some 4,200 others were delayed.
"Our operation has been running smoothly, and unfortunately a number of COVID-related sick calls led us to make the difficult decision to pre-cancel some flights scheduled for today," a spokesperson for American Airlines said.
Not all airlines were affected equally. A spokesperson for Southwest Airlines LUV.N said there were no issues to report with the carrier's flights on Saturday.
The Omicron variant was first detected in November and now accounts for nearly three-quarters of U.S. cases and as many as 90% in some areas, such as the Eastern Seaboard.
The average number of new U.S. coronavirus cases has risen 45% to 179,000 per day over the past week, according to a Reuters tally.
While recent research suggests Omicron produces milder illness and a lower rate of hospitalizations than previous variants of COVID-19, health officials have maintained a cautious note about the outlook.
Ahead of the Christmas holiday, Americans scrambled for COVID-19 tests and many went ahead with their travel plans.
U.S. officials have said that people who are fully vaccinated should feel comfortable proceeding with holiday travel.
(Reporting by Humeyra Pamuk and Joel Schectman Editing by Kieran Murray and Leslie Adler)
((humeyra.pamuk@thomsonreuters.com; +1 202 3105694; Reuters Messaging: Twitter: @humeyra_pamuk))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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FlightAware data showed that Delta Air Lines DAL.N scrubbed 292 flights as of 11:23 a.m. EST (1623 GMT), while a spokesperson for American Airlines AAL.O said the carrier had to call off 90 mainland flights. The Christmas holidays are typically a peak time for air travel, but the rapid spread of the highly transmissible Omicron variant has led to a sharp increase in COVID-19 infections, forcing airlines to cancel flights as pilots and crew need to be quarantined. "Our operation has been running smoothly, and unfortunately a number of COVID-related sick calls led us to make the difficult decision to pre-cancel some flights scheduled for today," a spokesperson for American Airlines said.
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FlightAware data showed that Delta Air Lines DAL.N scrubbed 292 flights as of 11:23 a.m. EST (1623 GMT), while a spokesperson for American Airlines AAL.O said the carrier had to call off 90 mainland flights. By Humeyra Pamuk and Joel Schectman WASHINGTON, Dec 25 (Reuters) - U.S. airlines canceled close to 900 flights on Saturday, the second straight day of massive cancellations as surging COVID-19 infections have sidelined some pilots and other crew members, upending plans for tens of thousands of holiday travelers over the Christmas weekend. The Christmas holidays are typically a peak time for air travel, but the rapid spread of the highly transmissible Omicron variant has led to a sharp increase in COVID-19 infections, forcing airlines to cancel flights as pilots and crew need to be quarantined.
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FlightAware data showed that Delta Air Lines DAL.N scrubbed 292 flights as of 11:23 a.m. EST (1623 GMT), while a spokesperson for American Airlines AAL.O said the carrier had to call off 90 mainland flights. By Humeyra Pamuk and Joel Schectman WASHINGTON, Dec 25 (Reuters) - U.S. airlines canceled close to 900 flights on Saturday, the second straight day of massive cancellations as surging COVID-19 infections have sidelined some pilots and other crew members, upending plans for tens of thousands of holiday travelers over the Christmas weekend. More than 880 Christmas Day flights, including domestic flights and those into or out of the country, were canceled, up from 690 on Christmas Eve, according to a running tally on flight-tracking website FlightAware.com.
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FlightAware data showed that Delta Air Lines DAL.N scrubbed 292 flights as of 11:23 a.m. EST (1623 GMT), while a spokesperson for American Airlines AAL.O said the carrier had to call off 90 mainland flights. By Humeyra Pamuk and Joel Schectman WASHINGTON, Dec 25 (Reuters) - U.S. airlines canceled close to 900 flights on Saturday, the second straight day of massive cancellations as surging COVID-19 infections have sidelined some pilots and other crew members, upending plans for tens of thousands of holiday travelers over the Christmas weekend. United Airlines UAL.O canceled 230 flights, a company spokesperson said.
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3928.0
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2021-12-23 00:00:00 UTC
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AAL February 2022 Options Begin Trading
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AAL
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https://www.nasdaq.com/articles/aal-february-2022-options-begin-trading
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nan
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nan
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Investors in American Airlines Group Inc (Symbol: AAL) saw new options become available today, for the February 2022 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new February 2022 contracts and identified one put and one call contract of particular interest.
The put contract at the $18.00 strike price has a current bid of $1.08. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $18.00, but will also collect the premium, putting the cost basis of the shares at $16.92 (before broker commissions). To an investor already interested in purchasing shares of AAL, that could represent an attractive alternative to paying $18.34/share today.
Because the $18.00 strike represents an approximate 2% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 57%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 6.00% return on the cash commitment, or 50.93% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for American Airlines Group Inc, and highlighting in green where the $18.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $18.50 strike price has a current bid of $1.18. If an investor was to purchase shares of AAL stock at the current price level of $18.34/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $18.50. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 7.31% if the stock gets called away at the February 2022 expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if AAL shares really soar, which is why looking at the trailing twelve month trading history for American Airlines Group Inc, as well as studying the business fundamentals becomes important. Below is a chart showing AAL's trailing twelve month trading history, with the $18.50 strike highlighted in red:
Considering the fact that the $18.50 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 50%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 6.43% boost of extra return to the investor, or 54.61% annualized, which we refer to as the YieldBoost.
The implied volatility in the put contract example is 52%, while the implied volatility in the call contract example is 53%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 252 trading day closing values as well as today's price of $18.34) to be 47%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Of course, a lot of upside could potentially be left on the table if AAL shares really soar, which is why looking at the trailing twelve month trading history for American Airlines Group Inc, as well as studying the business fundamentals becomes important. Below is a chart showing AAL's trailing twelve month trading history, with the $18.50 strike highlighted in red: Considering the fact that the $18.50 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options become available today, for the February 2022 expiration.
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Below is a chart showing AAL's trailing twelve month trading history, with the $18.50 strike highlighted in red: Considering the fact that the $18.50 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options become available today, for the February 2022 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new February 2022 contracts and identified one put and one call contract of particular interest.
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Below is a chart showing AAL's trailing twelve month trading history, with the $18.50 strike highlighted in red: Considering the fact that the $18.50 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options become available today, for the February 2022 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new February 2022 contracts and identified one put and one call contract of particular interest.
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At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new February 2022 contracts and identified one put and one call contract of particular interest. Below is a chart showing AAL's trailing twelve month trading history, with the $18.50 strike highlighted in red: Considering the fact that the $18.50 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options become available today, for the February 2022 expiration.
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3929.0
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2021-12-23 00:00:00 UTC
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Southwest Airlines Stock Poised For Strong Gains?
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AAL
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https://www.nasdaq.com/articles/southwest-airlines-stock-poised-for-strong-gains
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nan
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nan
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The shares of Southwest Airlines (NYSE: LUV) are trading 30% below pre-Covid levels despite stable passenger numbers at TSA checkpoints, largely due to the anticipation of a near-term decline in air travel demand. However, investors have been optimistic on Hyatt Hotels stock (NYSE: H), a hotel company with a strong domestic presence. This year, Hyatt Hotels stock has gained 14% assisted by a revival in leisure travel and subsequent improvement in system-wide room occupancy rates. While both companies belong to different industries, domestic travel demand is the key macroeconomic factor driving their top line. Given Hyatt’s lower profitability and weaker balance sheet as compared to Southwest Airlines, Trefis believes that Southwest stock is poised for strong gains. Does the optimism in Hyatt stock indicate an upcoming surge in air travel? We compare the historical trends in revenues, margins, and valuation multiple of both companies in an interactive dashboard analysis, Southwest Airlines vs. Hyatt Hotels – parts of which are highlighted below.
Revenue Growth
Hyatt’s growth was slightly higher than Southwest before the pandemic, with Hyatt’s revenues expanding at an average rate of 5.5% p.a. from $4.2 billion in 2016 to $5 billion in 2019, versus Southwest Airlines revenues growing at an annual rate of 3.4% from $20 billion in 2016 to $22 billion in 2019. Interestingly, both companies reported 60% revenue contraction in 2020 as the pandemic led to a slump in travel demand.
The management & franchise business has been key to Hyatt’s growth, resulting in a 20% expansion of the total room portfolio since 2017. The company has been selling its properties to expand the management & franchise business in recent years. Moreover, the acquisition of Apple Leisure Group in the second quarter furthers the company’s asset-light strategy.
Currently, Hyatt earns 60% of its total revenues from the management & franchise segment and expects to grow the share to 80% by 2024.
Southwest Airlines primarily earns its revenues from the sale of airline tickets and other ancillary services such as freight & mail. In the past few years, continued capacity growth along with rising ticket prices have been key contributors toward top line expansion.
Southwest Airlines’ domestic business contributes around 97% of the total revenues due to its strong network and point-to-point business model. For Hyatt, domestic business contributes around 80% of the total revenues.
Returns (Profits)
Southwest Airlines’ operating profit margin has been consistently higher than Hyatt Hotels.
In 2019, Hyatt Hotels reported an operating margin and net income margin of 4% and 15%, respectively. The net margin surged due to realization of gains from asset divestitures.
The company generated $396 million of operating cash on net sales of $5 billion, resulting in the operating cash margin of 8%. Subsequently, invested $369 million in property, plant & equipment and returned $421 million to investors in buybacks from asset sales.
Whereas, Southwest Airlines reported an operating margin and net income margin of 15% and 11%, respectively. The company generated $4 billion of operating cash on revenues of $22 billion at an 18% operating cash margin. Subsequently, invested $1 billion in property, plant & equipment and returned $2.3 billion to investors in dividends & share repurchases.
Both companies have been following different shareholder return policies with Hyatt executing buybacks utilizing cash from asset sales and Southwest returning a sizable portion of operating cash to shareholders.
Notably, the third round of payroll support program requires airlines to suspend dividends and share repurchases until September 2022.
Risk
From the perspective of financial leverage, Hyatt Hotels is the riskier bet of the two companies.
Financial leverage coupled with strong top line growth is a boon for investors. However, high interest expenses weigh on the bottom-line if growth stalls.
In 2020, Hyatt Hotels and Southwest Airlines reported $3 billion and $10 billion of long-term debt, respectively. With $13 billion of cash & short-term investments, Southwest has a strong cash position to overcome any short-term losses without affecting balance sheet strength.
On the contrary, the $2 billion of cash & short-term investments on Hyatt Hotels’ balance sheet leads to $1 billion of net debt.
While it makes sense that travel demand would rebound and Southwest would benefit, a new risk is that the Omicron variant may put up a roadblock to increased travel, or at least delay the timeline to recovery.
What if you’re looking for a more balanced portfolio instead? Here’s a high-quality portfolio that’s beaten the market consistently since the end of 2016.
Returns Dec 2021
MTD [1] 2021
YTD [1] 2017-21
Total [2]
LUV Return -17% -14% -19%
S&P 500 Return -1% 24% 107%
Trefis MS Portfolio Return -2% 42% 282%
[1] Month-to-date and year-to-date as of 12/15/2021
[2] Cumulative total returns since 2017
Invest with Trefis Market-Beating Portfolios
See all Trefis Price Estimates
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The shares of Southwest Airlines (NYSE: LUV) are trading 30% below pre-Covid levels despite stable passenger numbers at TSA checkpoints, largely due to the anticipation of a near-term decline in air travel demand. This year, Hyatt Hotels stock has gained 14% assisted by a revival in leisure travel and subsequent improvement in system-wide room occupancy rates. We compare the historical trends in revenues, margins, and valuation multiple of both companies in an interactive dashboard analysis, Southwest Airlines vs. Hyatt Hotels – parts of which are highlighted below.
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Returns (Profits) Southwest Airlines’ operating profit margin has been consistently higher than Hyatt Hotels. The company generated $396 million of operating cash on net sales of $5 billion, resulting in the operating cash margin of 8%. Subsequently, invested $1 billion in property, plant & equipment and returned $2.3 billion to investors in dividends & share repurchases.
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from $4.2 billion in 2016 to $5 billion in 2019, versus Southwest Airlines revenues growing at an annual rate of 3.4% from $20 billion in 2016 to $22 billion in 2019. The company generated $4 billion of operating cash on revenues of $22 billion at an 18% operating cash margin. Both companies have been following different shareholder return policies with Hyatt executing buybacks utilizing cash from asset sales and Southwest returning a sizable portion of operating cash to shareholders.
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The management & franchise business has been key to Hyatt’s growth, resulting in a 20% expansion of the total room portfolio since 2017. Returns (Profits) Southwest Airlines’ operating profit margin has been consistently higher than Hyatt Hotels. Subsequently, invested $1 billion in property, plant & equipment and returned $2.3 billion to investors in dividends & share repurchases.
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3930.0
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2021-12-22 00:00:00 UTC
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GRAPHIC-Surpluses on the horizon to douse fire under copper prices
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AAL
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https://www.nasdaq.com/articles/graphic-surpluses-on-the-horizon-to-douse-fire-under-copper-prices
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nan
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nan
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By Zandi Shabalala
LONDON, Dec 22 (Reuters) - Higher supplies and softer demand are expected to cool copper prices next year after a dizzying climb to record highs this year, but the metal's central role in the energy transition will keep sentiment positive.
As top consumer China staged an economic rebound and exchange inventories fell to multi-year lows, benchmark prices on the London Metal Exchange CMCU3 shot to an all-time high of $10,747.50 a tonne in May.
Prices have since fallen back to around $9,600.
Expectations of slower demand growth in China and rising supplies from operations such as Anglo American's Quellaveco mine in Peru AAL.L are likely to keep prices subdued next year.
"Long-term prospects for copper remain bullish, but the market looks set to be on pause next year compared to this year," said Karen Norton, senior base metals analyst at Refinitiv, which expects a modest copper surplus next year.
Others such as Goldman Sachs see fears of China's property slowdown as overblown, saying gains from EVs, renewables and electrical network investment outweigh the policy-moderated drag from property and machinery.
Mine supply is expected to rise 3.9% to nearly 22 million tonnes next year, according to the International Copper Study Group, which expects a surplus of 328,000 tonnes in the refined market.
Mine supply will be supplemented by scrap, which typically accounts for about one-third of global refined metal supplies, keeping prices subdued.
Bank of America expects demand to hold firm next year and only sees a surplus in 2023. It forecasts prices to average $9,813 a tonne next year and $8,375 a tonne in 2023.
Demand for copper from efforts to decarbonise will intensify, with JPMorgan forecasting it will account for more than 40% of overall demand growth next year in the 25-million-tonne market.
Copper is a material for the green revolution which includes electric vehicles and charging stations and renewable energy sources such as wind and solar.
JPMorgan forecasts total copper demand from energy transition rising from 1.8 million tonnes this year, to more than 3 million tonnes by 2025.
However, mining companies have not invested in enough copper production capacity to meet demand, analysts say, ushering in a period of deficits in the longer term.
"Miners can't just flip a switch overnight and start production, it takes time. Both electric vehicles and wind power are quite copper-intensive," said Wood Mackenzie analyst Jonathan Barnes.
Copper priceshttps://tmsnrt.rs/3effuN0
Global Stocks fallhttps://tmsnrt.rs/3Fny6X8
Global copper market to move into surplus in 2022https://tmsnrt.rs/3qbg3NC
Chinese Green Demand Accelerateshttps://tmsnrt.rs/3J77jkp
(Reporting by Zandi Shabalala; editing by Pratima Desai and David Evans)
((zandi.shabalala@tr.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Expectations of slower demand growth in China and rising supplies from operations such as Anglo American's Quellaveco mine in Peru AAL.L are likely to keep prices subdued next year. Copper is a material for the green revolution which includes electric vehicles and charging stations and renewable energy sources such as wind and solar. However, mining companies have not invested in enough copper production capacity to meet demand, analysts say, ushering in a period of deficits in the longer term.
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Expectations of slower demand growth in China and rising supplies from operations such as Anglo American's Quellaveco mine in Peru AAL.L are likely to keep prices subdued next year. Mine supply will be supplemented by scrap, which typically accounts for about one-third of global refined metal supplies, keeping prices subdued. JPMorgan forecasts total copper demand from energy transition rising from 1.8 million tonnes this year, to more than 3 million tonnes by 2025.
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Expectations of slower demand growth in China and rising supplies from operations such as Anglo American's Quellaveco mine in Peru AAL.L are likely to keep prices subdued next year. By Zandi Shabalala LONDON, Dec 22 (Reuters) - Higher supplies and softer demand are expected to cool copper prices next year after a dizzying climb to record highs this year, but the metal's central role in the energy transition will keep sentiment positive. "Long-term prospects for copper remain bullish, but the market looks set to be on pause next year compared to this year," said Karen Norton, senior base metals analyst at Refinitiv, which expects a modest copper surplus next year.
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Expectations of slower demand growth in China and rising supplies from operations such as Anglo American's Quellaveco mine in Peru AAL.L are likely to keep prices subdued next year. Mine supply is expected to rise 3.9% to nearly 22 million tonnes next year, according to the International Copper Study Group, which expects a surplus of 328,000 tonnes in the refined market. It forecasts prices to average $9,813 a tonne next year and $8,375 a tonne in 2023.
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3931.0
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2021-12-22 00:00:00 UTC
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American Airlines launches rights issue plan to protect $16.5 bln tax benefit
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AAL
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https://www.nasdaq.com/articles/american-airlines-launches-rights-issue-plan-to-protect-%2416.5-bln-tax-benefit
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nan
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nan
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Dec 22 (Reuters) - American Airlines Group Inc AAL.O said on Wednesday it was seeking shareholder approval for a rights offering plan to avert any hostile takeovers and preserve a $16.5 billion tax benefit, as the industry grapples with the Omicron coronavirus variant.
The No. 1 U.S. airline said it had cumulative U.S. federal net operating loss carryforwards exceeding $16.5 billion which would be at risk if there is a change in ownership.
In January this year, the company had reported a record annual loss of $8.9 billion due to pandemic-induced restrictions and lockdowns.
The airline said it has adopted a tax benefit preservation plan to aid the carrier in reducing its future federal income tax expense.
Under the plan, American will issue one preferred stock purchase right in the form of a dividend for each outstanding share of American Airlines common stock.
The dividend will be payable on January 5, 2022, the company said, adding that these rights can be exercised by the shareholders only if a person or group acquires a stake of 4.9% or more without the board's consent.
The rights, if approved, will let the shareholder buy the stock of the world's biggest airline at a 50% discount rate.
The airline said the rights will expire on December 20, 2022 if there is no shareholder approval. Otherwise, they will expire in December 2024.
(Reporting by Nathan Gomes and Aishwarya Nair in Bengaluru; Editing by Krishna Chandra Eluri)
((Nathan.Gomes@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dec 22 (Reuters) - American Airlines Group Inc AAL.O said on Wednesday it was seeking shareholder approval for a rights offering plan to avert any hostile takeovers and preserve a $16.5 billion tax benefit, as the industry grapples with the Omicron coronavirus variant. 1 U.S. airline said it had cumulative U.S. federal net operating loss carryforwards exceeding $16.5 billion which would be at risk if there is a change in ownership. The dividend will be payable on January 5, 2022, the company said, adding that these rights can be exercised by the shareholders only if a person or group acquires a stake of 4.9% or more without the board's consent.
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Dec 22 (Reuters) - American Airlines Group Inc AAL.O said on Wednesday it was seeking shareholder approval for a rights offering plan to avert any hostile takeovers and preserve a $16.5 billion tax benefit, as the industry grapples with the Omicron coronavirus variant. The airline said it has adopted a tax benefit preservation plan to aid the carrier in reducing its future federal income tax expense. Under the plan, American will issue one preferred stock purchase right in the form of a dividend for each outstanding share of American Airlines common stock.
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Dec 22 (Reuters) - American Airlines Group Inc AAL.O said on Wednesday it was seeking shareholder approval for a rights offering plan to avert any hostile takeovers and preserve a $16.5 billion tax benefit, as the industry grapples with the Omicron coronavirus variant. Under the plan, American will issue one preferred stock purchase right in the form of a dividend for each outstanding share of American Airlines common stock. The airline said the rights will expire on December 20, 2022 if there is no shareholder approval.
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Dec 22 (Reuters) - American Airlines Group Inc AAL.O said on Wednesday it was seeking shareholder approval for a rights offering plan to avert any hostile takeovers and preserve a $16.5 billion tax benefit, as the industry grapples with the Omicron coronavirus variant. 1 U.S. airline said it had cumulative U.S. federal net operating loss carryforwards exceeding $16.5 billion which would be at risk if there is a change in ownership. The airline said the rights will expire on December 20, 2022 if there is no shareholder approval.
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3932.0
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2021-12-22 00:00:00 UTC
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BP Stock Remains A Long-Term Bet
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AAL
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https://www.nasdaq.com/articles/bp-stock-remains-a-long-term-bet
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nan
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nan
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[Updated 12/17/2021]
Historically, BP’s (NYSE: BP) earnings have been primarily dependent on the oil & gas business resulting in fluctuating asset returns, fairly in line with benchmark oil prices. The Brent benchmark increased from $54 in 2017 to $71 in 2018, remained slightly lower at $63 in 2019, and subsequently declined to $41 in 2020. Thus, the company reported a ROACE (return on average capital employed) of 5.8%, 11.2%, 8.9%, and –3.8% in 2017, 2018, 2019, and 2020, respectively. Given the volatile nature of the oil & gas industry, the company’s strategy to increase investment in mobility and the renewable energy businesses is targeted to stabilize returns in the coming years. As highlighted in our previous article, Invest In BP Stock To Realize Capital Gains, BP’s conventional hydrocarbon, convenience & mobility, and low carbon electricity businesses are expected to generate a ROACE of 13%, 17%, and 9%, respectively. Per the company’s financial frame, low carbon and renewable power investments have a planned hurdle rate of 10-15% and 8-10%, respectively. Thus, the stock is a long-term bet for investors banking on renewables, as BP’s low carbon energy and mobility solutions businesses are likely to attract around 40% of the company’s capital budget by 2030. We highlight the key factors driving BP Valuation including revenues, margins, valuation multiple, and competitive comparison with peers in an interactive dashboard analysis.
Below you’ll find our previous coverage of BP stock where you can track our view over time.
[Updated 2021/11/03]
In the recent earnings release, BP (NYSE: BP) announced a $1.25 billion share repurchase program given the sizable improvement in cash flows from rising oil prices. The company remains committed toward expanding its renewable energy portfolio and divesting oil & gas assets as opposed to other oil majors. At an average benchmark price of $60 per barrel, the company expects to execute $1 billion of share repurchases every quarter. With the oil & gas industry likely to observe higher capital spend due to the spike in benchmark prices, BP’s capital return policy focuses on sustaining economic returns until the low carbon energy and mobility investments generate returns. After the OPEC slashed production by 9.7 mb/d last year, a slow easing in mandatory curtailments was expected this year. However, energy demand exceeded supply leading to a sharp spike in benchmark prices. Notably, the oil industry retains its volatile nature fostered by bargaining power of suppliers and international policies. Thus, BP stock is a good pick for investors banking on renewables for long-term gains. Trefis highlights the historical trends in revenues, earnings, and stock price in an interactive dashboard analysis on BP Valuation.
[Updated 2021/10/04] – Invest In BP Stock To Realize Capital Gains
Rising oil prices have been a boon for the overall industry including BP (NYSE: BP), which is going through a transition phase and expanding the convenience and renewable energy businesses. In H1 2021, the company generated $11.5 billion of cash from operations, repaid $7 billion of long-term debt – bringing the net debt down to $33 billion. Per the strategic footprint, the company is slated to return 60% of surplus cash as buybacks and announced a $1.4 billion share repurchase program with the second-quarter results. Considering the company’s deleveraging and capital return policy, Trefis believes that the stock is a good pick to realize long-term capital gains. We highlight the key factors driving BP Valuation including revenues, margins, valuation multiple, and competitive comparison with peers in an interactive dashboard analysis.
Deleveraging benefits: taking cues from the airline industry
The steep decline in benchmark oil prices due to the coronavirus crisis has led to the implementation of a deleveraging and capital conservation policy across the oil & gas industry. Declining profitability and an uncertain demand environment are two key reasons for this change. The airline industry has also been facing margin pressure due to growing competition and slow demand growth in recent years. In 2016, Alaska Air Group (NYSE: ALK) implemented a deleveraging policy after acquiring Virgin America and restricted shareholder returns such as dividend payouts and buybacks. Thus, ALK stock has been rewarded by investors and currently trades at just 10% below pre-Covid levels. However, the shares of its competitor American Airlines (NASDAQ: AAL) remain 30% below pre-Covid highs and have followed a downward trajectory since 2018. In the article, What If American Airlines Had Implemented Alaska Air’s Capital Allocation Strategy?, we compare the capital allocation strategy of the two companies and how de-leveraging benefited Alaska Air Group.
BP’s changing asset base
Per the company’s capital investment plan, low carbon energy and mobility solutions businesses are likely to attract around 40% of the total investment by 2030. Notably, newer businesses and conventional hydrocarbons will receive a capital allocation of $5-7 billion and $9 billion, respectively. Anticipation of higher profits from convenience & mobility business is the key reason behind this shift. Per reports, hydrocarbon, convenience & mobility, and low carbon electricity businesses are expected to generate ROACE of 13%, 17%, and 9%, respectively. (Related: Banking On Renewables? Pick BP Stock Over Exxon)
What if you’re looking for a more balanced portfolio instead? Here’s a high-quality portfolio that’s beaten the market consistently since the end of 2016.
Returns Dec 2021
MTD [1] 2021
YTD [1] 2017-21
Total [2]
BP Return -4% 28% -23%
S&P 500 Return -2% 23% 106%
Trefis MS Portfolio Return 0% 44% 286%
[1] Month-to-date and year-to-date as of 12/20/2021
[2] Cumulative total returns since 2017
Invest with Trefis Market-Beating Portfolios
See all Trefis Price Estimates
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
However, the shares of its competitor American Airlines (NASDAQ: AAL) remain 30% below pre-Covid highs and have followed a downward trajectory since 2018. Given the volatile nature of the oil & gas industry, the company’s strategy to increase investment in mobility and the renewable energy businesses is targeted to stabilize returns in the coming years. Thus, the stock is a long-term bet for investors banking on renewables, as BP’s low carbon energy and mobility solutions businesses are likely to attract around 40% of the company’s capital budget by 2030.
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We highlight the key factors driving BP Valuation including revenues, margins, valuation multiple, and competitive comparison with peers in an interactive dashboard analysis. However, the shares of its competitor American Airlines (NASDAQ: AAL) remain 30% below pre-Covid highs and have followed a downward trajectory since 2018. As highlighted in our previous article, Invest In BP Stock To Realize Capital Gains, BP’s conventional hydrocarbon, convenience & mobility, and low carbon electricity businesses are expected to generate a ROACE of 13%, 17%, and 9%, respectively.
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However, the shares of its competitor American Airlines (NASDAQ: AAL) remain 30% below pre-Covid highs and have followed a downward trajectory since 2018. With the oil & gas industry likely to observe higher capital spend due to the spike in benchmark prices, BP’s capital return policy focuses on sustaining economic returns until the low carbon energy and mobility investments generate returns. [Updated 2021/10/04] – Invest In BP Stock To Realize Capital Gains Rising oil prices have been a boon for the overall industry including BP (NYSE: BP), which is going through a transition phase and expanding the convenience and renewable energy businesses.
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However, the shares of its competitor American Airlines (NASDAQ: AAL) remain 30% below pre-Covid highs and have followed a downward trajectory since 2018. As highlighted in our previous article, Invest In BP Stock To Realize Capital Gains, BP’s conventional hydrocarbon, convenience & mobility, and low carbon electricity businesses are expected to generate a ROACE of 13%, 17%, and 9%, respectively. With the oil & gas industry likely to observe higher capital spend due to the spike in benchmark prices, BP’s capital return policy focuses on sustaining economic returns until the low carbon energy and mobility investments generate returns.
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3933.0
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2021-12-21 00:00:00 UTC
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Why Airline Stocks Like United and Delta Soared Today
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AAL
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https://www.nasdaq.com/articles/why-airline-stocks-like-united-and-delta-soared-today
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What happened
Airline stocks soared Tuesday, led by United Airlines Holdings (NASDAQ: UAL), up 6.9% as of Tuesday's close, closely trailed by Spirit Airlines (NYSE: SAVE) and JetBlue Airways (NASDAQ: JBLU). Even the industry's laggards are outpacing the broad market's gains, though, with American Airlines Group (NASDAQ: AAL) and Southwest Airlines (NYSE: LUV) higher to the tune of 4%. Shares of Delta Air Lines (NYSE: DAL) were in the middle of that range, sporting a 5.9% gain for today's session. Reports of brisk travel demand despite the rapid spread of the omicron variant of COVID-19 buoyed the group that has otherwise been struggling of late.
So what
Airline shareholders can thank Barron's, mostly. Citing data published by the U.S. Transportation Security Administration, the news venue reports air travel for the past five days has consistently exceeded 2 million passengers per day. That's still only between 81% and 85% of 2019's comparable count, before the coronavirus pandemic crimped demand. Bank of America underscored the idea, commenting in a report posted on Monday that it's also not seeing any measurable adverse impact on air travel despite the new variant. The collective data suggests the air travel industry continues to recover despite the rapid spread of omicron here and abroad.
The Centers for Disease Control and Prevention indicates the number of new known COVID-19 infections has been growing steadily -- and rapidly -- since late October, with 73% of the latest new case reports coming from the omicron variant.
Image source: Getty Images.
This latest chapter of the pandemic's saga posed a potential threat to airlines' business. In late November the White House implemented travel restrictions on anyone coming to the United States from a country where this particular strain had been detected, while other nations took similar measures.
Even without newly implemented restrictions, though, airlines and their investors were understandably fearful. Travel market research outfit Destination Analysts noted just a little over a week ago that only 76% of American travelers were comfortable taking a trip, down from 82% as of mid-October. In fact, Destination Analysts indicates that the onset of omicron made more than half of U.S. residents less interested in traveling than they were just a few weeks earlier. In a similar vein, although few other airlines dared to join it in its warning, Britain's discount airline easyJet cautioned that it was already seeing weakened demand.
Now what
The data supplied by the Transportation Security Administration and reported by Barron's is positive to be sure, but not necessarily a complete basis for suddenly stepping into the likes of Delta, Southwest, and Spirit Airlines.
Sure, the numbers continue pointing to a rebound for the business. It's just as possible, however, that travelers are simply looking to travel while they can before omicron infections become rampant, making travel not only dangerous, but perhaps impossible. It's also possible many of these travelers had already made holiday travel plans that would have been too difficult or too costly to cancel. It's even arguable that pandemic-weary consumers are going to shrug off the risk of infection just this once, but won't plan any new trips until the pandemic is in the rearview mirror.
Whatever the case, Tuesday's big gains don't change that fact that shares of nearly all airline stocks including powerhouses like Delta, American, and United Airlines are still in long-term downtrends that will only be snapped once it's clear that COVID-19 and any of its potential new strains are no longer any viable threat. We're just not there yet.
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Bank of America is an advertising partner of The Ascent, a Motley Fool company. James Brumley has no position in any of the stocks mentioned. The Motley Fool owns and recommends Spirit Airlines. The Motley Fool recommends Delta Air Lines, JetBlue Airways, and Southwest Airlines. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Even the industry's laggards are outpacing the broad market's gains, though, with American Airlines Group (NASDAQ: AAL) and Southwest Airlines (NYSE: LUV) higher to the tune of 4%. The Centers for Disease Control and Prevention indicates the number of new known COVID-19 infections has been growing steadily -- and rapidly -- since late October, with 73% of the latest new case reports coming from the omicron variant. In late November the White House implemented travel restrictions on anyone coming to the United States from a country where this particular strain had been detected, while other nations took similar measures.
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Even the industry's laggards are outpacing the broad market's gains, though, with American Airlines Group (NASDAQ: AAL) and Southwest Airlines (NYSE: LUV) higher to the tune of 4%. What happened Airline stocks soared Tuesday, led by United Airlines Holdings (NASDAQ: UAL), up 6.9% as of Tuesday's close, closely trailed by Spirit Airlines (NYSE: SAVE) and JetBlue Airways (NASDAQ: JBLU). The Motley Fool recommends Delta Air Lines, JetBlue Airways, and Southwest Airlines.
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Even the industry's laggards are outpacing the broad market's gains, though, with American Airlines Group (NASDAQ: AAL) and Southwest Airlines (NYSE: LUV) higher to the tune of 4%. What happened Airline stocks soared Tuesday, led by United Airlines Holdings (NASDAQ: UAL), up 6.9% as of Tuesday's close, closely trailed by Spirit Airlines (NYSE: SAVE) and JetBlue Airways (NASDAQ: JBLU). It's just as possible, however, that travelers are simply looking to travel while they can before omicron infections become rampant, making travel not only dangerous, but perhaps impossible.
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Even the industry's laggards are outpacing the broad market's gains, though, with American Airlines Group (NASDAQ: AAL) and Southwest Airlines (NYSE: LUV) higher to the tune of 4%. Now what The data supplied by the Transportation Security Administration and reported by Barron's is positive to be sure, but not necessarily a complete basis for suddenly stepping into the likes of Delta, Southwest, and Spirit Airlines. It's just as possible, however, that travelers are simply looking to travel while they can before omicron infections become rampant, making travel not only dangerous, but perhaps impossible.
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3934.0
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2021-12-20 00:00:00 UTC
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ANALYSIS-Chile miners brace as president elect signals environmental crackdown
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https://www.nasdaq.com/articles/analysis-chile-miners-brace-as-president-elect-signals-environmental-crackdown
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By Fabian Cambero
SANTIAGO, Dec 20 (Reuters) - Chile's mining sector is bracing for tighter environmental rules ahead after President-elect Gabriel Boric pledged to oppose a controversial $2.5 billion iron-copper mine that was approved in August after years of legal wrangling.
"To destroy the world is to destroy ourselves," Boric told a cheering crowd in his first speech after celebrating election victory on Sunday.
The 35-year-old leftist lawmaker singled out the planned Dominga mine, which critics say could devastate La Higuera, a coastal ecosystem rich in biodiversity with a large number of marine mammals and birds. The project's owner, privately held Andes Iron, has long rejected that assertion.
Boric, who takes office in March, campaigned on a pledge to overhaul Chile's market-oriented economic model, but details on his stance toward mining were thin. His comments on Sunday signaled that environmental regulation may be where he looks to make the biggest difference.
"We don't want more 'sacrifice zones' (areas of high pollution), we don't want projects that destroy our country, destroy communities and we exemplify a case that has been symbolic: No to Dominga," Boric said.
Shares of mining companies dropped sharply on Monday, including Chile-focused lithium miners Albemarle ALB.N and SQM SQMA.SN, amid a wider market retreat.
Prices for copper, Chile's major export, are at record highs, which has whetted the appetite of legislators around the region to push for a bigger share of profits to pay for economic recoveries after the coronavirus pandemic.
In neighboring Peru, the new leftist administration of President Pedro Castillo has given communities stronger backing in a spate of protests against mining firms, often over allegations they pollute local lands and water.
"If there is something that can have a real impact on the mining industry, in my opinion, we should start looking at the environmental issues," said Santiago-based Juan Carlos Guajardo, head of consultancy Plusmining.
Chile has the world's largest reserves of lithium, the ultra-light battery metal that is mined using brine from beneath pristine salt flats in the Atacama desert, where regulation around water use is already under scrutiny. Boric has criticized privatization in the sector and wants a state lithium firm.
The Andean nation is the world's top producer of copper and the No. 2 producer of lithium, a major ingredient of batteries used in electric vehicles. Both metals are seeing sharp price rises on soaring demand and a global rush to secure supply.
Chile is already debating higher taxes on mining firms - something Boric supports - as well as a stalled bill to protect glaciers in the mineral rich Andes. The industry says that measure, if unchanged, would risk current mines and obstruct new ones.
It could impact the Andina and El Teniente mines of state company Codelco, the world's largest copper producer, as well as Anglo American's AAL.L Los Bronces, Los Pelambres of Antofagasta ANTO.L and Caserones, linked to JX Nippon Mining.
The National Mining Society (Sonami), representing companies in the sector, declined to comment on the president-elect's remarks on Sunday or about the outlook for Dominga.
"It is clear that the new wealth and environmental taxes are on the horizon, while the presidency will support plans to raise royalties on mining firms," said consulting Teneo in a report.
Boric, who has moderated his tone in recent weeks to win over centrist voters, did say environmental adjustments would have to be gradual.
"Not everything can be done at the same time and we will have to prioritize to make progress that allows us to improve, step by step, the lives of our people," he said.
(Reporting by Fabian Cambero; Editing by Adam Jourdan and David Gregorio)
((adam.jourdan@thomsonreuters.com; +54 1155446882; Reuters Messaging: adam.jourdan.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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It could impact the Andina and El Teniente mines of state company Codelco, the world's largest copper producer, as well as Anglo American's AAL.L Los Bronces, Los Pelambres of Antofagasta ANTO.L and Caserones, linked to JX Nippon Mining. The 35-year-old leftist lawmaker singled out the planned Dominga mine, which critics say could devastate La Higuera, a coastal ecosystem rich in biodiversity with a large number of marine mammals and birds. Prices for copper, Chile's major export, are at record highs, which has whetted the appetite of legislators around the region to push for a bigger share of profits to pay for economic recoveries after the coronavirus pandemic.
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It could impact the Andina and El Teniente mines of state company Codelco, the world's largest copper producer, as well as Anglo American's AAL.L Los Bronces, Los Pelambres of Antofagasta ANTO.L and Caserones, linked to JX Nippon Mining. By Fabian Cambero SANTIAGO, Dec 20 (Reuters) - Chile's mining sector is bracing for tighter environmental rules ahead after President-elect Gabriel Boric pledged to oppose a controversial $2.5 billion iron-copper mine that was approved in August after years of legal wrangling. "We don't want more 'sacrifice zones' (areas of high pollution), we don't want projects that destroy our country, destroy communities and we exemplify a case that has been symbolic: No to Dominga," Boric said.
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It could impact the Andina and El Teniente mines of state company Codelco, the world's largest copper producer, as well as Anglo American's AAL.L Los Bronces, Los Pelambres of Antofagasta ANTO.L and Caserones, linked to JX Nippon Mining. By Fabian Cambero SANTIAGO, Dec 20 (Reuters) - Chile's mining sector is bracing for tighter environmental rules ahead after President-elect Gabriel Boric pledged to oppose a controversial $2.5 billion iron-copper mine that was approved in August after years of legal wrangling. Chile has the world's largest reserves of lithium, the ultra-light battery metal that is mined using brine from beneath pristine salt flats in the Atacama desert, where regulation around water use is already under scrutiny.
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It could impact the Andina and El Teniente mines of state company Codelco, the world's largest copper producer, as well as Anglo American's AAL.L Los Bronces, Los Pelambres of Antofagasta ANTO.L and Caserones, linked to JX Nippon Mining. The Andean nation is the world's top producer of copper and the No. 2 producer of lithium, a major ingredient of batteries used in electric vehicles.
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3935.0
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2021-12-20 00:00:00 UTC
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Monday Market News: Why Are Stocks Down Today?
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https://www.nasdaq.com/articles/monday-market-news%3A-why-are-stocks-down-today
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Stocks are down today and we’re diving into why in our Monday market update!
Source: Shutterstock
It looks like politics is the biggest factor affecting thestock market today That includes Omicron fears as well as Democrats running into issues with their Build Back Better legislation.
Jumping into the Omicron news, President Joe Biden is preparing for a statement tomorrow. This will have him addressing what unvaccinated individuals can expect for the holidays and winter overall.
We got a glimpse of that last week when the President put out the following statement.
“For unvaccinated, we are looking at a winter of severe illness and death — if you’re unvaccinated — for themselves, their families, and the hospitals they’ll soon overwhelm.”
7 of the Best Clean Energy Stocks for 2022 to Buy Now
Another factor behind why stocks sare down today has to do with Build Back Better legislation running into a roadblock. Democrat West Virginia Sen. Joe Manchin announced that he won’t vote in favor of the bill.
The Build Back Better plan includes funding for a vast array of projects that President Biden wants underway. That includes upgrading America’s infrastructure, putting a larger focus on renewable energy, as well as incentivizing a switch to electric vehicles (EVs).
While that all sounds good on paper, Republications aren’t sold on the massive amount of spending such moves would require. That causing conflict in Congress and Sen. Manchin siding with them would be enough to block the bill’s passing.
With the above factors in mind, keep an eye on travel stocks, such as American Airlines (NASDAQ:AAL) and Marriott International (NASDAQ:MAR), as well as EV stocks, including Blink Charging (NASDAQ:BLNK) and Tesla (NASDAQ:TSLA), in the coming days.
Investors looking for morestock market news todaywill want to stick around.
We’ve got all the lateststock newsthat traders need to know about for Monday. A few examples include what’s happening with shares of Society Pass (NASDAQ:SOPA), Nio (NYSE:NIO), and Oracle (NYSE:ORCL) today. You can find all of that at the following links!
More Monday Stock Market News
SOPA Stock: 11 Things to Know About Newly Public Society Pass as It Joins the Russell 2000
NIO Stock: The ET5 Sedan and 7 Other Things to Know About Nio Day 2021
ORCL, CERN: 11 Things to Know as Oracle Buys Cerner in $28.3B Mega Healthcare Move
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
The post Monday Market News: Why Are Stocks Down Today? appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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With the above factors in mind, keep an eye on travel stocks, such as American Airlines (NASDAQ:AAL) and Marriott International (NASDAQ:MAR), as well as EV stocks, including Blink Charging (NASDAQ:BLNK) and Tesla (NASDAQ:TSLA), in the coming days. Source: Shutterstock It looks like politics is the biggest factor affecting thestock market today That includes Omicron fears as well as Democrats running into issues with their Build Back Better legislation. That includes upgrading America’s infrastructure, putting a larger focus on renewable energy, as well as incentivizing a switch to electric vehicles (EVs).
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With the above factors in mind, keep an eye on travel stocks, such as American Airlines (NASDAQ:AAL) and Marriott International (NASDAQ:MAR), as well as EV stocks, including Blink Charging (NASDAQ:BLNK) and Tesla (NASDAQ:TSLA), in the coming days. Jumping into the Omicron news, President Joe Biden is preparing for a statement tomorrow. A few examples include what’s happening with shares of Society Pass (NASDAQ:SOPA), Nio (NYSE:NIO), and Oracle (NYSE:ORCL) today.
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With the above factors in mind, keep an eye on travel stocks, such as American Airlines (NASDAQ:AAL) and Marriott International (NASDAQ:MAR), as well as EV stocks, including Blink Charging (NASDAQ:BLNK) and Tesla (NASDAQ:TSLA), in the coming days. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Stocks are down today and we’re diving into why in our Monday market update! More Monday Stock Market News SOPA Stock: 11 Things to Know About Newly Public Society Pass as It Joins the Russell 2000 NIO Stock: The ET5 Sedan and 7 Other Things to Know About Nio Day 2021 ORCL, CERN: 11 Things to Know as Oracle Buys Cerner in $28.3B Mega Healthcare Move On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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With the above factors in mind, keep an eye on travel stocks, such as American Airlines (NASDAQ:AAL) and Marriott International (NASDAQ:MAR), as well as EV stocks, including Blink Charging (NASDAQ:BLNK) and Tesla (NASDAQ:TSLA), in the coming days. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Stocks are down today and we’re diving into why in our Monday market update! “For unvaccinated, we are looking at a winter of severe illness and death — if you’re unvaccinated — for themselves, their families, and the hospitals they’ll soon overwhelm.” 7 of the Best Clean Energy Stocks for 2022 to Buy Now Another factor behind why stocks sare down today has to do with Build Back Better legislation running into a roadblock.
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2021-12-20 00:00:00 UTC
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S.Africa's Amplats to sell Bokoni Mine to African Rainbow Minerals
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https://www.nasdaq.com/articles/s.africas-amplats-to-sell-bokoni-mine-to-african-rainbow-minerals
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Dec 20 (Reuters) - Anglo American Platinum AMSJ.J (Amplats), a unit of Anglo American AAL.L , said on Monday it agreed to sell its Bokoni Mine in South Africa to African Rainbow Minerals Ltd ARIJ.J for a cash consideration of 3.5 billion rand ($219.48 million).
Amplats holds a 49% stake in the platinum mine which has been on care and maintenance since 2017, while its joint venture partner Atlatsa Resources Corporation holds the remaining 51% interest.
($1 = 15.9468 rand)
(Reporting by Shanima A in Bengaluru; Editing by Rashmi Aich)
((shanima.a@thomsonreuters.com; (Direct: +91 77 6034 7399 );))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dec 20 (Reuters) - Anglo American Platinum AMSJ.J (Amplats), a unit of Anglo American AAL.L , said on Monday it agreed to sell its Bokoni Mine in South Africa to African Rainbow Minerals Ltd ARIJ.J for a cash consideration of 3.5 billion rand ($219.48 million). Amplats holds a 49% stake in the platinum mine which has been on care and maintenance since 2017, while its joint venture partner Atlatsa Resources Corporation holds the remaining 51% interest. ($1 = 15.9468 rand) (Reporting by Shanima A in Bengaluru; Editing by Rashmi Aich) ((shanima.a@thomsonreuters.com; (Direct: +91 77 6034 7399 );)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dec 20 (Reuters) - Anglo American Platinum AMSJ.J (Amplats), a unit of Anglo American AAL.L , said on Monday it agreed to sell its Bokoni Mine in South Africa to African Rainbow Minerals Ltd ARIJ.J for a cash consideration of 3.5 billion rand ($219.48 million). Amplats holds a 49% stake in the platinum mine which has been on care and maintenance since 2017, while its joint venture partner Atlatsa Resources Corporation holds the remaining 51% interest. ($1 = 15.9468 rand) (Reporting by Shanima A in Bengaluru; Editing by Rashmi Aich) ((shanima.a@thomsonreuters.com; (Direct: +91 77 6034 7399 );)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dec 20 (Reuters) - Anglo American Platinum AMSJ.J (Amplats), a unit of Anglo American AAL.L , said on Monday it agreed to sell its Bokoni Mine in South Africa to African Rainbow Minerals Ltd ARIJ.J for a cash consideration of 3.5 billion rand ($219.48 million). Amplats holds a 49% stake in the platinum mine which has been on care and maintenance since 2017, while its joint venture partner Atlatsa Resources Corporation holds the remaining 51% interest. ($1 = 15.9468 rand) (Reporting by Shanima A in Bengaluru; Editing by Rashmi Aich) ((shanima.a@thomsonreuters.com; (Direct: +91 77 6034 7399 );)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dec 20 (Reuters) - Anglo American Platinum AMSJ.J (Amplats), a unit of Anglo American AAL.L , said on Monday it agreed to sell its Bokoni Mine in South Africa to African Rainbow Minerals Ltd ARIJ.J for a cash consideration of 3.5 billion rand ($219.48 million). Amplats holds a 49% stake in the platinum mine which has been on care and maintenance since 2017, while its joint venture partner Atlatsa Resources Corporation holds the remaining 51% interest. ($1 = 15.9468 rand) (Reporting by Shanima A in Bengaluru; Editing by Rashmi Aich) ((shanima.a@thomsonreuters.com; (Direct: +91 77 6034 7399 );)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3937.0
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2021-12-17 00:00:00 UTC
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Bidding race on for Vertical Aerospace eVTOL plant as shares debut
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https://www.nasdaq.com/articles/bidding-race-on-for-vertical-aerospace-evtol-plant-as-shares-debut
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By Tim Hepher
Dec 17 (Reuters) - As the flying taxi market takes off, the race is on to decide where the future vehicles will be built with one of the backers of newly listed Vertical Aerospace EVTL.K - Irish leasing boss Domhnal Slattery - pushing for a manufacturing base in Ireland.
Shares in the electric vertical takeoff and landing aircraft (eVTOL) maker, backed by investors such as Slattery's Avolon aircraft leasing company and American Airlines AAL.O, rose sharply at their market debut on Friday after a blank-check merger valued at $2.2 billion.
Unlike many other entrants in the increasingly busy eVTOL market, Vertical Aerospace is focusing only on design, manufacture and services rather than ride-sharing operations, sparking a bidding race to secure high-tech production work - and the highly skilled jobs that go with it.
It has reported pre-orders for up to 1,350 aircraft worth $5 billion from customers including American and Virgin Atlantic.
"We have been speaking to a number of different governments about where we might build the production facility. Domhnal is very keen on us taking it to Ireland," founder and Chief Executive Stephen Fitzpatrick said after ringing the opening bell in New York.
While the Republic of Ireland is a global hub for aviation finance, it does not host any major aerospace manufacturing. A plant would help the government achieve two of its objectives: boosting its green technology sector and diversifying away from investment dependent on the country's low corporate tax rate.
"I would love to see it in Ireland. I think it would be a fantastic location. The UK is equally attractive and indeed other jurisdictions," Slattery told Reuters in an interview.
Bristol in the UK, where Vertical Aerospace is based, has thousands of aerospace engineers and discussion of where to place the plant is for now "hypothetical," Fitzpatrick said.
Even once a decision is made on where to build the vehicles, analysts warn a key question is how long it will take for new electric aircraft to be certified by aviation authorities.
Vertical Aerospace is aiming for 2024 and expects to commission a dedicated certification vehicle in coming weeks.
"We are on programme for the end of 2024; we are giving ourselves a window of 2024-2025," Fitzpatrick told Reuters.
"The key challenge we have is to certify the aircraft, there is no doubt about it," he said, adding partners including Rolls-Royce RR.L and Honeywell HON.N would handle key components.
"We are going to have these aircraft flying over cities all over the world in not less than three years but not more than five."
(Reporting by Tim Hepherd; Additional reporting by Conor Humphries in Dublin; Editing by Jonathan Oatis)
((tim.hepher@thomsonreuters.com; +33 1 49 49 54 52; Reuters Messaging: tim.hepher.thomsonreuters@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares in the electric vertical takeoff and landing aircraft (eVTOL) maker, backed by investors such as Slattery's Avolon aircraft leasing company and American Airlines AAL.O, rose sharply at their market debut on Friday after a blank-check merger valued at $2.2 billion. By Tim Hepher Dec 17 (Reuters) - As the flying taxi market takes off, the race is on to decide where the future vehicles will be built with one of the backers of newly listed Vertical Aerospace EVTL.K - Irish leasing boss Domhnal Slattery - pushing for a manufacturing base in Ireland. Unlike many other entrants in the increasingly busy eVTOL market, Vertical Aerospace is focusing only on design, manufacture and services rather than ride-sharing operations, sparking a bidding race to secure high-tech production work - and the highly skilled jobs that go with it.
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Shares in the electric vertical takeoff and landing aircraft (eVTOL) maker, backed by investors such as Slattery's Avolon aircraft leasing company and American Airlines AAL.O, rose sharply at their market debut on Friday after a blank-check merger valued at $2.2 billion. By Tim Hepher Dec 17 (Reuters) - As the flying taxi market takes off, the race is on to decide where the future vehicles will be built with one of the backers of newly listed Vertical Aerospace EVTL.K - Irish leasing boss Domhnal Slattery - pushing for a manufacturing base in Ireland. Unlike many other entrants in the increasingly busy eVTOL market, Vertical Aerospace is focusing only on design, manufacture and services rather than ride-sharing operations, sparking a bidding race to secure high-tech production work - and the highly skilled jobs that go with it.
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Shares in the electric vertical takeoff and landing aircraft (eVTOL) maker, backed by investors such as Slattery's Avolon aircraft leasing company and American Airlines AAL.O, rose sharply at their market debut on Friday after a blank-check merger valued at $2.2 billion. By Tim Hepher Dec 17 (Reuters) - As the flying taxi market takes off, the race is on to decide where the future vehicles will be built with one of the backers of newly listed Vertical Aerospace EVTL.K - Irish leasing boss Domhnal Slattery - pushing for a manufacturing base in Ireland. Unlike many other entrants in the increasingly busy eVTOL market, Vertical Aerospace is focusing only on design, manufacture and services rather than ride-sharing operations, sparking a bidding race to secure high-tech production work - and the highly skilled jobs that go with it.
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Shares in the electric vertical takeoff and landing aircraft (eVTOL) maker, backed by investors such as Slattery's Avolon aircraft leasing company and American Airlines AAL.O, rose sharply at their market debut on Friday after a blank-check merger valued at $2.2 billion. By Tim Hepher Dec 17 (Reuters) - As the flying taxi market takes off, the race is on to decide where the future vehicles will be built with one of the backers of newly listed Vertical Aerospace EVTL.K - Irish leasing boss Domhnal Slattery - pushing for a manufacturing base in Ireland. It has reported pre-orders for up to 1,350 aircraft worth $5 billion from customers including American and Virgin Atlantic.
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2021-12-17 00:00:00 UTC
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Southwest CEO tests positive for COVID-19 after Senate hearing -- airline
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https://www.nasdaq.com/articles/southwest-ceo-tests-positive-for-covid-19-after-senate-hearing-airline-0
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By David Shepardson
WASHINGTON, Dec 17 (Reuters) - Southwest LUV.N Chief Executive Gary Kelly tested positive for COVID-19 after appearing at a U.S. Senate hearing on Wednesday, a spokesperson for the airline confirmed to Reuters.
Kelly appeared at the Senate Commerce hearing with the CEOs of United Airlines UAL.N and American Airlines AAL.O as well as a senior Delta Air Lines DAL.N executive and the head of a flight attendants union.
The other airlines did not immediately comment on whether their executives had tested for COVID-19.
Southwest confirmed Kelly's positive test after Reuters learned of it through other officials. Kelly did not wear a mask for parts of the hearing and questioned the health benefit of masks on airplanes.
"I think the case is very strong that masks don't add much if anything in the air cabin environment -- it's very safe, very high quality compared to any other indoor setting," Kelly said.
Kelly told other airlines of the positive test on Thursday.
(Reporting by David Shepardson;Editing by Elaine Hardcastle)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Kelly appeared at the Senate Commerce hearing with the CEOs of United Airlines UAL.N and American Airlines AAL.O as well as a senior Delta Air Lines DAL.N executive and the head of a flight attendants union. By David Shepardson WASHINGTON, Dec 17 (Reuters) - Southwest LUV.N Chief Executive Gary Kelly tested positive for COVID-19 after appearing at a U.S. Senate hearing on Wednesday, a spokesperson for the airline confirmed to Reuters. Southwest confirmed Kelly's positive test after Reuters learned of it through other officials.
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Kelly appeared at the Senate Commerce hearing with the CEOs of United Airlines UAL.N and American Airlines AAL.O as well as a senior Delta Air Lines DAL.N executive and the head of a flight attendants union. By David Shepardson WASHINGTON, Dec 17 (Reuters) - Southwest LUV.N Chief Executive Gary Kelly tested positive for COVID-19 after appearing at a U.S. Senate hearing on Wednesday, a spokesperson for the airline confirmed to Reuters. Southwest confirmed Kelly's positive test after Reuters learned of it through other officials.
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Kelly appeared at the Senate Commerce hearing with the CEOs of United Airlines UAL.N and American Airlines AAL.O as well as a senior Delta Air Lines DAL.N executive and the head of a flight attendants union. By David Shepardson WASHINGTON, Dec 17 (Reuters) - Southwest LUV.N Chief Executive Gary Kelly tested positive for COVID-19 after appearing at a U.S. Senate hearing on Wednesday, a spokesperson for the airline confirmed to Reuters. Kelly told other airlines of the positive test on Thursday.
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Kelly appeared at the Senate Commerce hearing with the CEOs of United Airlines UAL.N and American Airlines AAL.O as well as a senior Delta Air Lines DAL.N executive and the head of a flight attendants union. By David Shepardson WASHINGTON, Dec 17 (Reuters) - Southwest LUV.N Chief Executive Gary Kelly tested positive for COVID-19 after appearing at a U.S. Senate hearing on Wednesday, a spokesperson for the airline confirmed to Reuters. The other airlines did not immediately comment on whether their executives had tested for COVID-19.
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3939.0
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2021-12-17 00:00:00 UTC
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Canada's vaccine mandate for foreign crews a headache for European airlines
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AAL
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https://www.nasdaq.com/articles/canadas-vaccine-mandate-for-foreign-crews-a-headache-for-european-airlines
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nan
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nan
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By Allison Lampert and David Shepardson
Dec 17 (Reuters) - European airlines are walking an increasingly fine line to meet both foreign inoculation and local privacy requirements, as more countries require flight crews to be vaccinated against COVID-19, carriers say.
Canada is slated on Jan. 15 to end an exemption that allowed entry of unvaccinated foreign flight crews, joining others that have vaccine mandates for pilots and passengers alike.
That's creating a logistical headache for European carriers, who are unable to ask for their employees' vaccination status since they are bound to strict data protection laws in Europe, a spokesperson for the trade group Airlines For Europe (A4E) said.
"Carriers will need to find workarounds in order to comply with the Canadian entry requirement," A4E spokesperson Jennifer Janzen said by email.
U.S. carriers like United Airlines UAL.O require their cabin crew to be fully vaccinated, while rivals like American Airlines AAL.O and Southwest Airlines LUV.N have delayed the effective date of vaccine mandates until 2022 for employees.
Airlines, which have suffered steep losses due to COVID-19 travel restrictions and bans, are blaming a patchwork of shifting rules for increased red-tape and depressed demand for international travel.
Airlines expect to see more inoculation mandates for crew as the fast-spreading Omicron variant forces governments to tighten border restrictions.
"We now see that more and more countries are mandating or considering immunization of flight crews," said KLM Royal Dutch Airlines AIRF.PA in a statement.
The carrier identified intercontinental flights to about 10 destinations where crew are currently not exempt from vaccine requirements.
As more countries demand proof of inoculation from everyone on planes, international flights will no longer be practical without vaccinated crews, said a spokesperson for Germany's Lufthansa AG LHAG.DE which can't obligate its personnel to be vaccinated against COVID-19.
Canada, which implored residents on Wednesday not to leave the country due to Omicron, is expected to announce on Friday that it will again require people returning from short foreign trips to submit a negative COVID-19 test.
Still, some countries give foreign flight crews a pass from vaccination rules aimed at international travelers, as recommended by the U.N.'s aviation agency.
International flight crews are exempted from U.S. requirements that all non-U.S. citizens travelling from abroad be vaccinated.
Transport Canada said in a statement it is working closely "with public health officials on the vaccination requirements impacting international aircrew."
Since KLM does not require crew members to be inoculated or share their vaccination status, employees must instead seek a generalized "travel restriction" so they are not scheduled to fly to a destination with entry requirements they cannot meet, the carrier said.
"Managers do not gain insight into the reason for the restriction," the airline said in the emailed statement. "Only in this way we can continue to fill in the rosters properly and keep our operation feasible."
(Reporting By Allison Lampert in Montreal Editing by Nick Zieminski)
((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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U.S. carriers like United Airlines UAL.O require their cabin crew to be fully vaccinated, while rivals like American Airlines AAL.O and Southwest Airlines LUV.N have delayed the effective date of vaccine mandates until 2022 for employees. Canada is slated on Jan. 15 to end an exemption that allowed entry of unvaccinated foreign flight crews, joining others that have vaccine mandates for pilots and passengers alike. Canada, which implored residents on Wednesday not to leave the country due to Omicron, is expected to announce on Friday that it will again require people returning from short foreign trips to submit a negative COVID-19 test.
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U.S. carriers like United Airlines UAL.O require their cabin crew to be fully vaccinated, while rivals like American Airlines AAL.O and Southwest Airlines LUV.N have delayed the effective date of vaccine mandates until 2022 for employees. By Allison Lampert and David Shepardson Dec 17 (Reuters) - European airlines are walking an increasingly fine line to meet both foreign inoculation and local privacy requirements, as more countries require flight crews to be vaccinated against COVID-19, carriers say. Still, some countries give foreign flight crews a pass from vaccination rules aimed at international travelers, as recommended by the U.N.'s aviation agency.
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U.S. carriers like United Airlines UAL.O require their cabin crew to be fully vaccinated, while rivals like American Airlines AAL.O and Southwest Airlines LUV.N have delayed the effective date of vaccine mandates until 2022 for employees. By Allison Lampert and David Shepardson Dec 17 (Reuters) - European airlines are walking an increasingly fine line to meet both foreign inoculation and local privacy requirements, as more countries require flight crews to be vaccinated against COVID-19, carriers say. Since KLM does not require crew members to be inoculated or share their vaccination status, employees must instead seek a generalized "travel restriction" so they are not scheduled to fly to a destination with entry requirements they cannot meet, the carrier said.
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U.S. carriers like United Airlines UAL.O require their cabin crew to be fully vaccinated, while rivals like American Airlines AAL.O and Southwest Airlines LUV.N have delayed the effective date of vaccine mandates until 2022 for employees. By Allison Lampert and David Shepardson Dec 17 (Reuters) - European airlines are walking an increasingly fine line to meet both foreign inoculation and local privacy requirements, as more countries require flight crews to be vaccinated against COVID-19, carriers say. "We now see that more and more countries are mandating or considering immunization of flight crews," said KLM Royal Dutch Airlines AIRF.PA in a statement.
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3940.0
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2021-12-17 00:00:00 UTC
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Analysts Anticipate SPYX Will Reach $127
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AAL
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https://www.nasdaq.com/articles/analysts-anticipate-spyx-will-reach-%24127
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nan
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nan
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Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the SPDR— S&P— 500 Fossil Fuel Reserves Free ETF (Symbol: SPYX), we found that the implied analyst target price for the ETF based upon its underlying holdings is $126.60 per unit.
With SPYX trading at a recent price near $115.45 per unit, that means that analysts see 9.66% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of SPYX's underlying holdings with notable upside to their analyst target prices are American Airlines Group Inc (Symbol: AAL), NIKE Inc (Symbol: NKE), and Live Nation Entertainment Inc (Symbol: LYV). Although AAL has traded at a recent price of $16.52/share, the average analyst target is 10.68% higher at $18.29/share. Similarly, NKE has 10.34% upside from the recent share price of $162.72 if the average analyst target price of $179.54/share is reached, and analysts on average are expecting LYV to reach a target price of $111.67/share, which is 10.12% above the recent price of $101.40. Below is a twelve month price history chart comparing the stock performance of AAL, NKE, and LYV:
Below is a summary table of the current analyst target prices discussed above:
NAME SYMBOL RECENT PRICE AVG. ANALYST 12-MO. TARGET % UPSIDE TO TARGET
SPDR— S&P— 500 Fossil Fuel Reserves Free ETF SPYX $115.45 $126.60 9.66%
American Airlines Group Inc AAL $16.52 $18.29 10.68%
NIKE Inc NKE $162.72 $179.54 10.34%
Live Nation Entertainment Inc LYV $101.40 $111.67 10.12%
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.
10 ETFs With Most Upside To Analyst Targets »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Although AAL has traded at a recent price of $16.52/share, the average analyst target is 10.68% higher at $18.29/share. SPDR— S&P— 500 Fossil Fuel Reserves Free ETF SPYX $115.45 $126.60 9.66% American Airlines Group Inc AAL $16.52 $18.29 10.68% NIKE Inc NKE $162.72 $179.54 10.34% Live Nation Entertainment Inc LYV $101.40 $111.67 10.12% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Three of SPYX's underlying holdings with notable upside to their analyst target prices are American Airlines Group Inc (Symbol: AAL), NIKE Inc (Symbol: NKE), and Live Nation Entertainment Inc (Symbol: LYV).
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Three of SPYX's underlying holdings with notable upside to their analyst target prices are American Airlines Group Inc (Symbol: AAL), NIKE Inc (Symbol: NKE), and Live Nation Entertainment Inc (Symbol: LYV). SPDR— S&P— 500 Fossil Fuel Reserves Free ETF SPYX $115.45 $126.60 9.66% American Airlines Group Inc AAL $16.52 $18.29 10.68% NIKE Inc NKE $162.72 $179.54 10.34% Live Nation Entertainment Inc LYV $101.40 $111.67 10.12% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Although AAL has traded at a recent price of $16.52/share, the average analyst target is 10.68% higher at $18.29/share.
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Three of SPYX's underlying holdings with notable upside to their analyst target prices are American Airlines Group Inc (Symbol: AAL), NIKE Inc (Symbol: NKE), and Live Nation Entertainment Inc (Symbol: LYV). Although AAL has traded at a recent price of $16.52/share, the average analyst target is 10.68% higher at $18.29/share. Below is a twelve month price history chart comparing the stock performance of AAL, NKE, and LYV: Below is a summary table of the current analyst target prices discussed above:
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SPDR— S&P— 500 Fossil Fuel Reserves Free ETF SPYX $115.45 $126.60 9.66% American Airlines Group Inc AAL $16.52 $18.29 10.68% NIKE Inc NKE $162.72 $179.54 10.34% Live Nation Entertainment Inc LYV $101.40 $111.67 10.12% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Three of SPYX's underlying holdings with notable upside to their analyst target prices are American Airlines Group Inc (Symbol: AAL), NIKE Inc (Symbol: NKE), and Live Nation Entertainment Inc (Symbol: LYV). Although AAL has traded at a recent price of $16.52/share, the average analyst target is 10.68% higher at $18.29/share.
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3941.0
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2021-12-17 00:00:00 UTC
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De Beers extends Botswana sales deal as it negotiates new contract
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AAL
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https://www.nasdaq.com/articles/de-beers-extends-botswana-sales-deal-as-it-negotiates-new-contract
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nan
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nan
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Adds detail, context
GABORONE, Dec 17 (Reuters) - De Beers Group said on Friday it has extended by six months a 10-year agreement with Botswana for the sale of rough diamonds from their jointly owned venture, giving both parties more time to negotiate a new contract.
The 2011 rough diamond sales agreement in which the venture, Debswana, sells 75% of its output to Anglo American PLC AAL.L subsidiary De Beers was set to expire in 2020, but was extended for a year in December 2020 due to the pandemic.
The agreement will now run until the end of June while contract negotiations continue.
A deal is necessary for Botswana as the Southern African country gets about 30% of its revenues and 70% of its foreign exchange earnings from diamonds, which make up a fifth of its GDP. For De Beers, which is 15% owned by the government of Botswana, a contract renewal would provide another long period of revenue certainty.
Both parties have declined to divulge the specific terms being negotiated but analysts have said the government is likely to want to increase its share of diamonds produced by Debswana from the 15% agreed in 2011, or to get a larger share of bigger stones. Last year, the government's share was raised to 25%.
Debswana sells the balance of its output to state-owned Okavango Diamond Company (ODC), an independent channel created by the government to sell diamonds.
Botswana has a long term plan of transforming itself from just being a producer of rough diamonds to taking a more active role in the broader industry, participating in activities such as trading, cutting and polishing and other support services such as tourism and hospitality, transport, diamond banking, gemmological functions and laboratories.
President Mokgweetsi Masisi has said he wants more people employed in the industry as the country battles with relatively high unemployment, especially among youths.
(Reporting by Brian Benza in Gaborone and Sinchita Mitra in Bengaluru;Editing by Elaine Hardcastle)
((Sinchita.Mitra@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The 2011 rough diamond sales agreement in which the venture, Debswana, sells 75% of its output to Anglo American PLC AAL.L subsidiary De Beers was set to expire in 2020, but was extended for a year in December 2020 due to the pandemic. Adds detail, context GABORONE, Dec 17 (Reuters) - De Beers Group said on Friday it has extended by six months a 10-year agreement with Botswana for the sale of rough diamonds from their jointly owned venture, giving both parties more time to negotiate a new contract. For De Beers, which is 15% owned by the government of Botswana, a contract renewal would provide another long period of revenue certainty.
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The 2011 rough diamond sales agreement in which the venture, Debswana, sells 75% of its output to Anglo American PLC AAL.L subsidiary De Beers was set to expire in 2020, but was extended for a year in December 2020 due to the pandemic. Adds detail, context GABORONE, Dec 17 (Reuters) - De Beers Group said on Friday it has extended by six months a 10-year agreement with Botswana for the sale of rough diamonds from their jointly owned venture, giving both parties more time to negotiate a new contract. For De Beers, which is 15% owned by the government of Botswana, a contract renewal would provide another long period of revenue certainty.
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The 2011 rough diamond sales agreement in which the venture, Debswana, sells 75% of its output to Anglo American PLC AAL.L subsidiary De Beers was set to expire in 2020, but was extended for a year in December 2020 due to the pandemic. Adds detail, context GABORONE, Dec 17 (Reuters) - De Beers Group said on Friday it has extended by six months a 10-year agreement with Botswana for the sale of rough diamonds from their jointly owned venture, giving both parties more time to negotiate a new contract. Botswana has a long term plan of transforming itself from just being a producer of rough diamonds to taking a more active role in the broader industry, participating in activities such as trading, cutting and polishing and other support services such as tourism and hospitality, transport, diamond banking, gemmological functions and laboratories.
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The 2011 rough diamond sales agreement in which the venture, Debswana, sells 75% of its output to Anglo American PLC AAL.L subsidiary De Beers was set to expire in 2020, but was extended for a year in December 2020 due to the pandemic. Adds detail, context GABORONE, Dec 17 (Reuters) - De Beers Group said on Friday it has extended by six months a 10-year agreement with Botswana for the sale of rough diamonds from their jointly owned venture, giving both parties more time to negotiate a new contract. A deal is necessary for Botswana as the Southern African country gets about 30% of its revenues and 70% of its foreign exchange earnings from diamonds, which make up a fifth of its GDP.
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3942.0
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2021-12-17 00:00:00 UTC
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De Beers extends 10-year Botswana sales deal again on COVID-19 woes
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AAL
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https://www.nasdaq.com/articles/de-beers-extends-10-year-botswana-sales-deal-again-on-covid-19-woes
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nan
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nan
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Dec 17 (Reuters) - De Beers Group said on Friday it has extended by six months a 10-year agreement with Botswana for the sale of rough diamonds from their jointly owned venture, due to pandemic-induced logistical challenges.
The 2011 rough diamond sales agreement in which the venture, Debswana, sells all of its output to De Beers was set to expire in 2020, but was extended for a year in December 2020.
The Anglo American PLC AAL.Lunit, 15% owned by the government of Botswana, said the agreement will now run until the end of June, allowing both parties more time to negotiate.
(Reporting by Sinchita Mitra in Bengaluru; Editing by Devika Syamnath)
((Sinchita.Mitra@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Anglo American PLC AAL.Lunit, 15% owned by the government of Botswana, said the agreement will now run until the end of June, allowing both parties more time to negotiate. Dec 17 (Reuters) - De Beers Group said on Friday it has extended by six months a 10-year agreement with Botswana for the sale of rough diamonds from their jointly owned venture, due to pandemic-induced logistical challenges. The 2011 rough diamond sales agreement in which the venture, Debswana, sells all of its output to De Beers was set to expire in 2020, but was extended for a year in December 2020.
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The Anglo American PLC AAL.Lunit, 15% owned by the government of Botswana, said the agreement will now run until the end of June, allowing both parties more time to negotiate. Dec 17 (Reuters) - De Beers Group said on Friday it has extended by six months a 10-year agreement with Botswana for the sale of rough diamonds from their jointly owned venture, due to pandemic-induced logistical challenges. The 2011 rough diamond sales agreement in which the venture, Debswana, sells all of its output to De Beers was set to expire in 2020, but was extended for a year in December 2020.
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The Anglo American PLC AAL.Lunit, 15% owned by the government of Botswana, said the agreement will now run until the end of June, allowing both parties more time to negotiate. Dec 17 (Reuters) - De Beers Group said on Friday it has extended by six months a 10-year agreement with Botswana for the sale of rough diamonds from their jointly owned venture, due to pandemic-induced logistical challenges. The 2011 rough diamond sales agreement in which the venture, Debswana, sells all of its output to De Beers was set to expire in 2020, but was extended for a year in December 2020.
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The Anglo American PLC AAL.Lunit, 15% owned by the government of Botswana, said the agreement will now run until the end of June, allowing both parties more time to negotiate. Dec 17 (Reuters) - De Beers Group said on Friday it has extended by six months a 10-year agreement with Botswana for the sale of rough diamonds from their jointly owned venture, due to pandemic-induced logistical challenges. The 2011 rough diamond sales agreement in which the venture, Debswana, sells all of its output to De Beers was set to expire in 2020, but was extended for a year in December 2020.
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3943.0
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2021-12-17 00:00:00 UTC
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Are Odds In Favor Of Boeing Stock?
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AAL
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https://www.nasdaq.com/articles/are-odds-in-favor-of-boeing-stock
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nan
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nan
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Fear of another infectious wave has again affected international travel with the imposition of stringent testing rules by many countries. However, the passenger numbers at TSA checkpoints remain 15% below pre-pandemic figures – highlighting strong domestic demand. Interestingly, the shares of Boeing (NYSE: BA) have not observed a steep fall as observed by prominent airlines including American, Delta, and United. BA stock has lost $50 billion in market capitalization since February 2020 – much more than the $22 billion of operating cash burn in the same period. Low production numbers coupled with a dip in air travel demand weighed on the company’s finances during the pandemic, but Trefis believes that long-term trends remain in favor of the stock. Our analysis on Boeing Upside Post Covid compares Boeing’s performance over the 2008 financial crisis versus the Covid-19 crisis. (related: Are Long-Term Trends In Favor Of Boeing Stock?)
Timeline of 2020 Crisis So Far:
12/12/2019: Coronavirus cases first reported in China
1/31/2020: WHO declares a global health emergency.
2/19/2020: Signs of effective containment in China and hopes of monetary easing by major central banks helps S&P 500 reach a record high
3/23/2020: S&P 500 drops 34% from the peak level seen on Feb 19, as Covid-19 cases accelerate outside China. Doesn’t help that oil prices crash in mid-March amid Saudi-led price war
Since 3/24/2020: S&P 500 recovers 109% from the lows seen on Mar 23, 2020, with the Fed’s multi-billion dollar stimulus package keeping the economy afloat during the prolonged lockdown and the vaccination drive allowing things to gradually return to near-normal conditions despite several waves of Covid infections.
In contrast, here’s how BA and the broader market performed during the 2007/2008 crisis.
Timeline of 2007-08 Crisis
10/1/2007: Approximate pre-crisis peak in S&P 500 index
9/1/2008 – 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08)
3/1/2009: Approximate bottoming out of S&P 500 index
12/31/2009: Initial recovery to levels before accelerated decline (around 9/1/2008)
Boeing Stock vs S&P 500 Performance Over 2007-08 Financial Crisis
BA stock declined from levels of around $106 in September 2007 to levels of around $31 in March 2009 (as the markets bottomed out), implying BA stock lost 70% from its pre-crisis level. It recovered post the 2008 crisis to levels of about $54 in early 2010 – rising by 72% between March 2009 and January 2010. In comparison, the S&P 500 Index first fell 51% in the wake of the recession before recovering 48% by January 2010.
The MAX crisis stalled Boeing’s topline, but rising production to assist revival
Boeing’s revenues declined by 42% from $101 billion in 2018 to $58 billion in 2020 as the FAA grounding directive for MAX aircraft led to the suspension of deliveries and a halt in production. Notably, the long-term debt soared from $10 billion in 2018 to $62 billion in 2020 due to a jump in inventories and capital raises to handle any adverse pandemic situation. Per Q3 2021 filings, the 737 MAX aircraft production rate stood at 19 units/month – slowly growing toward the target of 31 per month by 2022. The company has burned $25 billion of operating cash in the last three years, which has largely been due to $23 billion increase in inventories. Therefore, rising delivery rates will ease the balance sheet and push production figures.
CONCLUSION
Phases of Covid-19 crisis:
Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally
Late-March 2020 onward: Social distancing measures + lockdowns
April 2020: Fed stimulus suppresses near-term survival anxiety
May-June 2020: Recovery of demand, with gradual lifting of lockdowns – no panic anymore despite a steady increase in the number of cases
Since late 2020: Weak quarterly results, but continued improvement in demand and progress with vaccine development buoy market sentiment
The high cash burn figures have largely been due to Boeing’s build-up of inventories and other working capital changes. While weak near-term demand due to the pandemic is likely to weigh on the company’s financials, Trefis believes that the 4% annual growth in global passenger traffic in the next two decades is likely to assist shareholder returns.
What if you’re looking for a more balanced portfolio instead? Here’s a high-quality portfolio that’s beaten the market consistently since the end of 2016.
Returns Dec 2021
MTD [1] 2021
YTD [1] 2017-21
Total [2]
BA Return -10% -8% 27%
S&P 500 Return 1% 25% -100%
Trefis MS Portfolio Return -1% 43% 286%
[1] Month-to-date and year-to-date as of 12/14/2021
[2] Cumulative total returns since 2017
Invest with Trefis Market-Beating Portfolios
See all Trefis Price Estimates
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Low production numbers coupled with a dip in air travel demand weighed on the company’s finances during the pandemic, but Trefis believes that long-term trends remain in favor of the stock. Phases of Covid-19 crisis: Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally Late-March 2020 onward: Social distancing measures + lockdowns April 2020: Fed stimulus suppresses near-term survival anxiety May-June 2020: Recovery of demand, with gradual lifting of lockdowns – no panic anymore despite a steady increase in the number of cases Since late 2020: Weak quarterly results, but continued improvement in demand and progress with vaccine development buoy market sentiment The high cash burn figures have largely been due to Boeing’s build-up of inventories and other working capital changes. While weak near-term demand due to the pandemic is likely to weigh on the company’s financials, Trefis believes that the 4% annual growth in global passenger traffic in the next two decades is likely to assist shareholder returns.
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Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 – 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 12/31/2009: Initial recovery to levels before accelerated decline (around 9/1/2008) Boeing Stock vs S&P 500 Performance Over 2007-08 Financial Crisis BA stock declined from levels of around $106 in September 2007 to levels of around $31 in March 2009 (as the markets bottomed out), implying BA stock lost 70% from its pre-crisis level. Phases of Covid-19 crisis: Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally Late-March 2020 onward: Social distancing measures + lockdowns April 2020: Fed stimulus suppresses near-term survival anxiety May-June 2020: Recovery of demand, with gradual lifting of lockdowns – no panic anymore despite a steady increase in the number of cases Since late 2020: Weak quarterly results, but continued improvement in demand and progress with vaccine development buoy market sentiment The high cash burn figures have largely been due to Boeing’s build-up of inventories and other working capital changes. While weak near-term demand due to the pandemic is likely to weigh on the company’s financials, Trefis believes that the 4% annual growth in global passenger traffic in the next two decades is likely to assist shareholder returns.
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Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 – 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 12/31/2009: Initial recovery to levels before accelerated decline (around 9/1/2008) Boeing Stock vs S&P 500 Performance Over 2007-08 Financial Crisis BA stock declined from levels of around $106 in September 2007 to levels of around $31 in March 2009 (as the markets bottomed out), implying BA stock lost 70% from its pre-crisis level. Phases of Covid-19 crisis: Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally Late-March 2020 onward: Social distancing measures + lockdowns April 2020: Fed stimulus suppresses near-term survival anxiety May-June 2020: Recovery of demand, with gradual lifting of lockdowns – no panic anymore despite a steady increase in the number of cases Since late 2020: Weak quarterly results, but continued improvement in demand and progress with vaccine development buoy market sentiment The high cash burn figures have largely been due to Boeing’s build-up of inventories and other working capital changes. Total [2] BA Return -10% -8% 27% S&P 500 Return 1% 25% -100% Trefis MS Portfolio Return -1% 43% 286% [1] Month-to-date and year-to-date as of 12/14/2021 [2] Cumulative total returns since 2017 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 – 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 12/31/2009: Initial recovery to levels before accelerated decline (around 9/1/2008) Boeing Stock vs S&P 500 Performance Over 2007-08 Financial Crisis BA stock declined from levels of around $106 in September 2007 to levels of around $31 in March 2009 (as the markets bottomed out), implying BA stock lost 70% from its pre-crisis level. The MAX crisis stalled Boeing’s topline, but rising production to assist revival Boeing’s revenues declined by 42% from $101 billion in 2018 to $58 billion in 2020 as the FAA grounding directive for MAX aircraft led to the suspension of deliveries and a halt in production. Phases of Covid-19 crisis: Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally Late-March 2020 onward: Social distancing measures + lockdowns April 2020: Fed stimulus suppresses near-term survival anxiety May-June 2020: Recovery of demand, with gradual lifting of lockdowns – no panic anymore despite a steady increase in the number of cases Since late 2020: Weak quarterly results, but continued improvement in demand and progress with vaccine development buoy market sentiment The high cash burn figures have largely been due to Boeing’s build-up of inventories and other working capital changes.
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3944.0
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2021-12-17 00:00:00 UTC
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Southwest CEO Gary Kelly Tests Covid Positive After Unmasked Senate Hearing
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AAL
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https://www.nasdaq.com/articles/southwest-ceo-gary-kelly-tests-covid-positive-after-unmasked-senate-hearing
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nan
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nan
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(RTTNews) - Gary Kelly, CEO of Southwest Airlines Co.(LUV), tested Covid positive after he visited a Senate hearing on Wednesday, with CEOs and representatives of other major airlines. A spokesperson said, "Although testing negative multiple times prior to the Senate Commerce Committee Hearing, Gary tested positive for COVID-19 after returning home, experiencing mild symptoms, and taking a PCR test. Gary is doing well and currently resting at home, he has been fully vaccinated and received the booster earlier this year. Gary's symptoms continue to be mild, and each day he is moving closer to a full recovery." Kelly was joined by the CEOs of United Airlines Co. (UAL), American Airlines Co. (AAL), and Delta Airlines (DEL) and a flight attendant union president. The Senate Commerce Council asked the representatives about a $54 billion federal support that was given to the airlines to support the companies during the pandemic lockdown. United Airlines CEO and Delta Air's COO were sitting in close proximity with Kelly as well Sara Nelson, the president of the Association of Flight Attendants. All three have tested negative as of Friday but will continue to keep testing for the CDC-advised period. The lawmakers also asked the companies about the mask mandates and how soon can the passengers fly maskless. In reply, Kelly said, "I think the case is very strong that masks don't add much if anything in the air cabin environment." The reply has caused some raised eyebrows but the CEO issued a note of clarification on Friday in support of the current administration's decision. "I confused some with a short answer to a question about masks. So, to be clear, I and Southwest and along with [U.S. airline lobbying group] Airlines for America are all aligned and support the current federal mask mandate at airports and on airplanes. The majority of our Employees and Customers have felt it has been an important layer of protection, and I certainly agree with that. So we'll continue to rely on the advice of our medical experts regarding the necessity of masks. And my apologies for any confusion!" Airlines industries has been one of the most affected industries due to the virus but the companies are expecting an increase in footfall during the holiday season.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Kelly was joined by the CEOs of United Airlines Co. (UAL), American Airlines Co. (AAL), and Delta Airlines (DEL) and a flight attendant union president. United Airlines CEO and Delta Air's COO were sitting in close proximity with Kelly as well Sara Nelson, the president of the Association of Flight Attendants. In reply, Kelly said, "I think the case is very strong that masks don't add much if anything in the air cabin environment."
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Kelly was joined by the CEOs of United Airlines Co. (UAL), American Airlines Co. (AAL), and Delta Airlines (DEL) and a flight attendant union president. (RTTNews) - Gary Kelly, CEO of Southwest Airlines Co.(LUV), tested Covid positive after he visited a Senate hearing on Wednesday, with CEOs and representatives of other major airlines. A spokesperson said, "Although testing negative multiple times prior to the Senate Commerce Committee Hearing, Gary tested positive for COVID-19 after returning home, experiencing mild symptoms, and taking a PCR test.
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Kelly was joined by the CEOs of United Airlines Co. (UAL), American Airlines Co. (AAL), and Delta Airlines (DEL) and a flight attendant union president. (RTTNews) - Gary Kelly, CEO of Southwest Airlines Co.(LUV), tested Covid positive after he visited a Senate hearing on Wednesday, with CEOs and representatives of other major airlines. A spokesperson said, "Although testing negative multiple times prior to the Senate Commerce Committee Hearing, Gary tested positive for COVID-19 after returning home, experiencing mild symptoms, and taking a PCR test.
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Kelly was joined by the CEOs of United Airlines Co. (UAL), American Airlines Co. (AAL), and Delta Airlines (DEL) and a flight attendant union president. (RTTNews) - Gary Kelly, CEO of Southwest Airlines Co.(LUV), tested Covid positive after he visited a Senate hearing on Wednesday, with CEOs and representatives of other major airlines. A spokesperson said, "Although testing negative multiple times prior to the Senate Commerce Committee Hearing, Gary tested positive for COVID-19 after returning home, experiencing mild symptoms, and taking a PCR test.
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3945.0
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2021-12-17 00:00:00 UTC
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First Week of AAL August 2022 Options Trading
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AAL
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https://www.nasdaq.com/articles/first-week-of-aal-august-2022-options-trading
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nan
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nan
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Investors in American Airlines Group Inc (Symbol: AAL) saw new options become available this week, for the August 2022 expiration. One of the key inputs that goes into the price an option buyer is willing to pay, is the time value, so with 245 days until expiration the newly available contracts represent a possible opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new August 2022 contracts and identified one put and one call contract of particular interest.
The put contract at the $16.00 strike price has a current bid of $2.19. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $16.00, but will also collect the premium, putting the cost basis of the shares at $13.81 (before broker commissions). To an investor already interested in purchasing shares of AAL, that could represent an attractive alternative to paying $16.91/share today.
Because the $16.00 strike represents an approximate 5% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 63%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 13.69% return on the cash commitment, or 20.40% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for American Airlines Group Inc, and highlighting in green where the $16.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $17.00 strike price has a current bid of $2.73. If an investor was to purchase shares of AAL stock at the current price level of $16.91/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $17.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 16.68% if the stock gets called away at the August 2022 expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if AAL shares really soar, which is why looking at the trailing twelve month trading history for American Airlines Group Inc, as well as studying the business fundamentals becomes important. Below is a chart showing AAL's trailing twelve month trading history, with the $17.00 strike highlighted in red:
Considering the fact that the $17.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 44%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 16.14% boost of extra return to the investor, or 24.06% annualized, which we refer to as the YieldBoost.
The implied volatility in the put contract example, as well as the call contract example, are both approximately 51%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 252 trading day closing values as well as today's price of $16.91) to be 47%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Of course, a lot of upside could potentially be left on the table if AAL shares really soar, which is why looking at the trailing twelve month trading history for American Airlines Group Inc, as well as studying the business fundamentals becomes important. Below is a chart showing AAL's trailing twelve month trading history, with the $17.00 strike highlighted in red: Considering the fact that the $17.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options become available this week, for the August 2022 expiration.
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Below is a chart showing AAL's trailing twelve month trading history, with the $17.00 strike highlighted in red: Considering the fact that the $17.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options become available this week, for the August 2022 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new August 2022 contracts and identified one put and one call contract of particular interest.
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Below is a chart showing AAL's trailing twelve month trading history, with the $17.00 strike highlighted in red: Considering the fact that the $17.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options become available this week, for the August 2022 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new August 2022 contracts and identified one put and one call contract of particular interest.
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Below is a chart showing AAL's trailing twelve month trading history, with the $17.00 strike highlighted in red: Considering the fact that the $17.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options become available this week, for the August 2022 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new August 2022 contracts and identified one put and one call contract of particular interest.
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3946.0
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2021-12-16 00:00:00 UTC
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U.S. FAA names WestJet official as new aviation safety chief
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AAL
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https://www.nasdaq.com/articles/u.s.-faa-names-westjet-official-as-new-aviation-safety-chief
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nan
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nan
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By David Shepardson
WASHINGTON, Dec 16 (Reuters) - The Federal Aviation Administration said on Thursday it has tapped a Canadian airline safety official to head the agency’s aviation safety organization.
Billy Nolen, who has most recently been vice president for safety, security and quality for WestJet Airlines WJA.TO in Canada, will begin early next year as the FAA's associate administrator for aviation safety, leading a team of more than 7,600 FAA employees.
The FAA's safety efforts and oversight of Boeing BA.N have come under criticism after two fatal 737 MAX crashes in a five-month period between October 2018 and March 2019 that killed 346 people. In December last year, Congress passed legislation to reform how the FAA certifies new airplanes and to reduce how much it delegates some duties to manufacturers like Boeing.
Nolen will Ali Bahrami, who stepped down in June after facing harsh criticism from relatives of the two fatal 737 MAX crashes and some lawmakers.
Nolen "understands aviation safety, and he understands that our journey requires constant vigilance and continuous improvement," FAA Administrator Steve Dickson said.
Nolen began his professional career in 1989 as a pilot for American Airlines AAL.O and later became the airline’s managing director for corporate safety and regulatory affairs.
Despite last year's legislation, a U.S. Senate report said on Monday the FAA must do a better job overseeing Boeing and the certification of new airplanes.
It found the "FAA’s oversight of the certification process has eroded," adding the agency "over time, increasingly delegated away its authority" to Boeing and others.
The agency "should take immediate action to address undue pressure at the Boeing" safety oversight office, it said, adding that the FAA is chronically understaffed.
Dickson said in November the FAA was delegating fewer responsibilities to Boeing for aircraft certification. The FAA is currently scrutinizing a number of issues involving Boeing airplanes and working to implement many of the reforms mandated by Congress.
(Reporting by David Shepardson Editing by Frances Kerry)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Nolen began his professional career in 1989 as a pilot for American Airlines AAL.O and later became the airline’s managing director for corporate safety and regulatory affairs. The FAA's safety efforts and oversight of Boeing BA.N have come under criticism after two fatal 737 MAX crashes in a five-month period between October 2018 and March 2019 that killed 346 people. In December last year, Congress passed legislation to reform how the FAA certifies new airplanes and to reduce how much it delegates some duties to manufacturers like Boeing.
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Nolen began his professional career in 1989 as a pilot for American Airlines AAL.O and later became the airline’s managing director for corporate safety and regulatory affairs. The FAA's safety efforts and oversight of Boeing BA.N have come under criticism after two fatal 737 MAX crashes in a five-month period between October 2018 and March 2019 that killed 346 people. Nolen "understands aviation safety, and he understands that our journey requires constant vigilance and continuous improvement," FAA Administrator Steve Dickson said.
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Nolen began his professional career in 1989 as a pilot for American Airlines AAL.O and later became the airline’s managing director for corporate safety and regulatory affairs. By David Shepardson WASHINGTON, Dec 16 (Reuters) - The Federal Aviation Administration said on Thursday it has tapped a Canadian airline safety official to head the agency’s aviation safety organization. Billy Nolen, who has most recently been vice president for safety, security and quality for WestJet Airlines WJA.TO in Canada, will begin early next year as the FAA's associate administrator for aviation safety, leading a team of more than 7,600 FAA employees.
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Nolen began his professional career in 1989 as a pilot for American Airlines AAL.O and later became the airline’s managing director for corporate safety and regulatory affairs. By David Shepardson WASHINGTON, Dec 16 (Reuters) - The Federal Aviation Administration said on Thursday it has tapped a Canadian airline safety official to head the agency’s aviation safety organization. In December last year, Congress passed legislation to reform how the FAA certifies new airplanes and to reduce how much it delegates some duties to manufacturers like Boeing.
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3947.0
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2021-12-16 00:00:00 UTC
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American or United: Which Airline Stock is a Better Pick?
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AAL
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https://www.nasdaq.com/articles/american-or-united%3A-which-airline-stock-is-a-better-pick
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nan
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nan
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If any segment of the economy is emblematic of the U.S. recovery from COVID-19, it would be airlines. This particular market sector was hit hard by the pandemic, but offers excellent rebound prospects for enterprising investors.
This isn't to suggest that there hasn't been turbulence, however. The recent emergence of the Omicron variant COVID-19 strain reminded Wall Street of just how sensitive the travel industry can be to developments in current events.
Nonetheless, volatility-tolerant traders can comparison shop among the best U.S. airlines and hand-pick their favorite stocks today. With that in mind, let's compare and contrast two of the industry's giants, American Airlines (AAL) and United Airlines (UAL), to see if one is truly the better pick.
American Airlines (AAL)
If you're seeking sheer size and volume in U.S. air travel, you really can't get much bigger than American Airlines.
Under the American Airlines Group umbrella, American Airlines and American Eagle offer an average of nearly 6,700 flights per day to nearly 350 destinations throughout over 50 countries.
It's important for prospective investors to note that American is a company in transition. That's because Doug Parker will retire as the company's CEO on March 31, 2022. Robert Isom, currently the president of American Airlines, will succeed Parker as CEO.
It doesn't sound as if the transition will be rocky, so investors should be able to tolerate the executive-level change-over.
However, as far as the company's travel schedule expansion/contraction is concerned, it's a mixed bag of news.
Recently, American announced the addition of four international and six domestic routes from Miami International Airport. Around the same time, the airline announced plans to stop flying to Honolulu from North Carolina's Charlotte Douglas International Airport.
The airline is also cutting some European routes out of Philadelphia International Airport, but also expects to bring back several international flights at Charlotte Douglas International Airport next year.
With all of that in mind, let's see what Wall Street has to say about American Airlines.
According to TipRanks’ analyst rating consensus, AAL is a Moderate Sell, based on one Buy, three Hold, and three Sell ratings. The average analyst American Airlines price target is $17.93, implying 8.1% upside potential.
United Airlines (UAL)
The analyst community isn't exactly massively bullish on AAL stock, so let's see how United Airlines fares in comparison.
While the outlook for American Airlines is decidedly mixed, United really appears to be kicking its operations into high gear.
For instance, United just formed a partnership with California's San Francisco International Airport, which would provide more one-stop connections to cities across the U.S., Australia, Mexico, the Caribbean and South America.
Speaking of partnerships, United Airlines is also collaborating with Virgin Australia Group to enhance the travel experience between Australia and the Americas.
This partnership will add more benefits for MileagePlus and Velocity Frequent Flyer members. Furthermore, it will offer access to more one-stop connections to cities across multiple world regions.
This agreement is subject to government approval. However, if all goes as planned, it's expected to roll out in early 2022.
On top of all that, United Airlines recently expanded into Terminal 2 at San Francisco International Airport. With this, the airline and its customers can take advantage of two new walkways that now connect Terminals 2 and 3 at the airport.
Truthfully, it's difficult to find any negative news concerning United Airlines. So, let's see how Wall Street feels about the company's prospects.
According to TipRanks’ analyst rating consensus, UAL is a Moderate Buy, based on four Buy, two Hold, and one Sell ratings. The average analyst United Airlines price target is $59.43, implying 46.3% upside potential.
Which One's the Winner?
Clearly, the analysts envision more upside potential for UAL stock than they do for AAL stock.
It's hard to blame them for this preference. While American is a giant in the U.S. airline industry, United also stands tall as a market mover.
Moreover, while American Airlines seems to just be in recovery mode, United Airlines is moving forward aggressively and making outstanding progress even during these challenging times we're living in today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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With that in mind, let's compare and contrast two of the industry's giants, American Airlines (AAL) and United Airlines (UAL), to see if one is truly the better pick. American Airlines (AAL) If you're seeking sheer size and volume in U.S. air travel, you really can't get much bigger than American Airlines. According to TipRanks’ analyst rating consensus, AAL is a Moderate Sell, based on one Buy, three Hold, and three Sell ratings.
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According to TipRanks’ analyst rating consensus, AAL is a Moderate Sell, based on one Buy, three Hold, and three Sell ratings. With that in mind, let's compare and contrast two of the industry's giants, American Airlines (AAL) and United Airlines (UAL), to see if one is truly the better pick. American Airlines (AAL) If you're seeking sheer size and volume in U.S. air travel, you really can't get much bigger than American Airlines.
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American Airlines (AAL) If you're seeking sheer size and volume in U.S. air travel, you really can't get much bigger than American Airlines. United Airlines (UAL) The analyst community isn't exactly massively bullish on AAL stock, so let's see how United Airlines fares in comparison. With that in mind, let's compare and contrast two of the industry's giants, American Airlines (AAL) and United Airlines (UAL), to see if one is truly the better pick.
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Clearly, the analysts envision more upside potential for UAL stock than they do for AAL stock. With that in mind, let's compare and contrast two of the industry's giants, American Airlines (AAL) and United Airlines (UAL), to see if one is truly the better pick. American Airlines (AAL) If you're seeking sheer size and volume in U.S. air travel, you really can't get much bigger than American Airlines.
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3948.0
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2021-12-15 00:00:00 UTC
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Airlines fly close to downwards debt spiral
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AAL
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https://www.nasdaq.com/articles/airlines-fly-close-to-downwards-debt-spiral
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nan
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nan
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Reuters
Reuters
LONDON (Reuters Breakingviews) - Airlines are close to breaking the corporate credit card. Since 2019, the top six network carriers in the United States and Europe have loaded up with an additional $44 billion of net debt, more than their pre-pandemic EBITDA. Even with a return to normal in 2022 – an increasingly unlikely scenario – paying that off will take years.
Alongside flogging planes, laying off staff and asking shareholders for money, airline bosses have borrowed vast sums from banks and capital markets. Taxpayers have also chipped in, with the U.S. Congress approving, somewhat controversially, $54 billion to cover salaries of grounded staff for 18 months. To a large extent, the survival techniques have worked. Only Air France-KLM is close to nationalisation, with the French and Dutch governments holding 29% and 9% stakes respectively.
That said, the industry’s debt levels are unsustainable. Since 2019, the three big U.S. carriers Delta Air Lines, American Airlines and United Airlines, and their European counterparts Air France-KLM, Germany’s Lufthansa and British Airways-owner IAG have increased net debt by 63% to $112 billion, according to analyst estimates compiled by Refinitiv. That equates to a whopping 4.7 times next year’s EBITDA. In 2019, the year before the pandemic started, the absolute figure was $69 billion, just 1.7 times that year’s EBITDA.
Getting back to 2019-style amounts of leverage will involve years of pain for shareholders. Government support packages in the United States and Europe preclude the payment of any dividends until state loans are repaid. Even after that, there’s the issue of affordability. During the global financial crisis, Delta’s net debt shot up from $6 billion to $12 billion, and it took five years to normalise even though demand for air travel bounced back strongly. Since 2019, it has risen 2.5 times. Negative EBITDA for 2020 and 2021 mean traditional financial sustainability metrics are for the birds. The Omicron variant may yet wreak havoc on forecasts for 2022, and even airlines executives questions whether business travellers will ever fully return.
Another solution is to pass the hat around to shareholders once again. But Omicron has squashed share prices anew, increasing the burden on equity investors. The additional net debt taken on board in the last two years amounts to two-thirds the six’s current market value, which itself could be inflated. Even when the viral storm clouds eventually pass, the outlook for airline shareholders looks bleak.
Follow @edwardcropley https://twitter.com/edwardcropley on Twitter
CONTEXT NEWS
- The chief executives of major U.S. airlines were due to appear before Congress on Dec. 15 to defend a $54 billion government lifeline that covered most of the industry’s payroll costs for 18 months.
- Britain’s major airlines have called for more economic support to offset the impact of travel restrictions aimed at curbing the spread of the Omicron coronavirus variant, the Financial Times reported on Dec. 13.
- The paper said industry executives would request the extension of pandemic loans issued by the government, and potentially another furlough scheme for aviation workers.
- Air France-KLM said on Dec. 13 it had paid back 500 million euros of a 4 billion euro loan backed by Paris, and had negotiated to extend the maturity of the outstanding debt by two years to 2025.
(Editing by Lauren Silva Laughlin and Sharon Lam)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alongside flogging planes, laying off staff and asking shareholders for money, airline bosses have borrowed vast sums from banks and capital markets. - The chief executives of major U.S. airlines were due to appear before Congress on Dec. 15 to defend a $54 billion government lifeline that covered most of the industry’s payroll costs for 18 months. - Britain’s major airlines have called for more economic support to offset the impact of travel restrictions aimed at curbing the spread of the Omicron coronavirus variant, the Financial Times reported on Dec. 13.
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Since 2019, the top six network carriers in the United States and Europe have loaded up with an additional $44 billion of net debt, more than their pre-pandemic EBITDA. Since 2019, the three big U.S. carriers Delta Air Lines, American Airlines and United Airlines, and their European counterparts Air France-KLM, Germany’s Lufthansa and British Airways-owner IAG have increased net debt by 63% to $112 billion, according to analyst estimates compiled by Refinitiv. - Air France-KLM said on Dec. 13 it had paid back 500 million euros of a 4 billion euro loan backed by Paris, and had negotiated to extend the maturity of the outstanding debt by two years to 2025.
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Since 2019, the three big U.S. carriers Delta Air Lines, American Airlines and United Airlines, and their European counterparts Air France-KLM, Germany’s Lufthansa and British Airways-owner IAG have increased net debt by 63% to $112 billion, according to analyst estimates compiled by Refinitiv. During the global financial crisis, Delta’s net debt shot up from $6 billion to $12 billion, and it took five years to normalise even though demand for air travel bounced back strongly. - Air France-KLM said on Dec. 13 it had paid back 500 million euros of a 4 billion euro loan backed by Paris, and had negotiated to extend the maturity of the outstanding debt by two years to 2025.
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That equates to a whopping 4.7 times next year’s EBITDA. During the global financial crisis, Delta’s net debt shot up from $6 billion to $12 billion, and it took five years to normalise even though demand for air travel bounced back strongly. The Omicron variant may yet wreak havoc on forecasts for 2022, and even airlines executives questions whether business travellers will ever fully return.
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3949.0
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2021-12-15 00:00:00 UTC
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U.S. airlines to defend $54 billion COVID-19 government lifeline
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AAL
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https://www.nasdaq.com/articles/u.s.-airlines-to-defend-%2454-billion-covid-19-government-lifeline
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nan
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nan
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By David Shepardson
WASHINGTON, Dec 15 (Reuters) - Major U.S. airlines Wednesday will defend a $54 billion COVID-19 government lifeline even as they face operational challenges and work to speed hiring to address rising demand.
The Senate Commerce Committee will hear from the chief executives of American Airlines AAL.O, Southwest Airlines LUV.N and United Airlines UAL.N, as well as the chief of operations for Delta Air Lines DAL.N and the head of a large flight attendants unions. Others like JetBlue Airways and Alaska Air Group are submitting written statements.
"It's not an exaggeration to say the program saved the airline industry," American CEO Doug Parker will say.
Senator Maria Cantwell, the committee chair, pressed airline CEOs to take part in the oversight hearing after she sent major carriers letters about reports of workforce shortages, significant flight cancellations, and delays.
Lawmakers are expected to quiz executives about how carriers used pandemic-related federal bailout funds, staffing issues and other matters.
Congress approved $54 billion in three rounds covering much of U.S. airline payroll costs for 18 months.
Cantwell will call the payroll support program (PSP) a "historic investment to sustain a critical sector of the U.S. economy by ensuring airlines had funding to continue paying their employees," her office said, adding "PSP saved the jobs and livelihoods of hundreds of thousands of workers across the U.S. airline industry."
Airlines, in written testimony first reported by Reuters, say they are aggressively hiring and defended the assistance. They warn COVID-19 remains a drag on demand and below 2019 levels.
"The Omicron variant has created further uncertainty, and there is no clear consensus on when business and international travel will return," Delta's John Laughter will say.
Many other countries' aviation COVID-19 assistance required a higher percentage of funds repayment, while other U.S. industries did not get the same government financial support. U.S. airlines spurned conditions some lawmakers sought to add like cutting carbon emissions.
Out of $54 billion, airlines must repay $14 billion, or 26.2%, and Treasury holds warrants currently worth approximately $200 million, a Commerce Committee memo says. Treasury also extended $25 billion in low-cost government loans to carriers.
The memo said payroll assistance "enabled the United States to outperform Europe and Asia in terms of an air travel recovery following the pandemic."
Sara Nelson, president of the Association of Flight Attendants-CWA, said in written testimony airline "staffing is above pre-pandemic levels if compared to the number of flight hours airlines are flying. But aviation workers are not as willing to pick up overtime due to the combative passengers and concerns around COVID."
Airlines for America, an industry trade group, told the committee that without the assistance "airlines undoubtedly would have reduced capacity commensurate with the drop in passenger traffic to avoid a steep drop in load factor."
The group estimates "that approximately 50,000 airline employees opted for early retirement or voluntary separation."
Airlines accepting government assistance that funded payroll costs through Sept. 30 were prohibited from furloughs or firing workers and faced limits on executive compensation and bans on stock buybacks and dividends.
(Reporting by David Shepardson; Editing by Christopher Cushing)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Senate Commerce Committee will hear from the chief executives of American Airlines AAL.O, Southwest Airlines LUV.N and United Airlines UAL.N, as well as the chief of operations for Delta Air Lines DAL.N and the head of a large flight attendants unions. By David Shepardson WASHINGTON, Dec 15 (Reuters) - Major U.S. airlines Wednesday will defend a $54 billion COVID-19 government lifeline even as they face operational challenges and work to speed hiring to address rising demand. Senator Maria Cantwell, the committee chair, pressed airline CEOs to take part in the oversight hearing after she sent major carriers letters about reports of workforce shortages, significant flight cancellations, and delays.
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The Senate Commerce Committee will hear from the chief executives of American Airlines AAL.O, Southwest Airlines LUV.N and United Airlines UAL.N, as well as the chief of operations for Delta Air Lines DAL.N and the head of a large flight attendants unions. By David Shepardson WASHINGTON, Dec 15 (Reuters) - Major U.S. airlines Wednesday will defend a $54 billion COVID-19 government lifeline even as they face operational challenges and work to speed hiring to address rising demand. "It's not an exaggeration to say the program saved the airline industry," American CEO Doug Parker will say.
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The Senate Commerce Committee will hear from the chief executives of American Airlines AAL.O, Southwest Airlines LUV.N and United Airlines UAL.N, as well as the chief of operations for Delta Air Lines DAL.N and the head of a large flight attendants unions. Cantwell will call the payroll support program (PSP) a "historic investment to sustain a critical sector of the U.S. economy by ensuring airlines had funding to continue paying their employees," her office said, adding "PSP saved the jobs and livelihoods of hundreds of thousands of workers across the U.S. airline industry." Airlines for America, an industry trade group, told the committee that without the assistance "airlines undoubtedly would have reduced capacity commensurate with the drop in passenger traffic to avoid a steep drop in load factor."
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The Senate Commerce Committee will hear from the chief executives of American Airlines AAL.O, Southwest Airlines LUV.N and United Airlines UAL.N, as well as the chief of operations for Delta Air Lines DAL.N and the head of a large flight attendants unions. Congress approved $54 billion in three rounds covering much of U.S. airline payroll costs for 18 months. Airlines, in written testimony first reported by Reuters, say they are aggressively hiring and defended the assistance.
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3950.0
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2021-12-15 00:00:00 UTC
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Airlines CEOs To Testify Before Senate Panel Ahead Of Holiday Season Rush
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AAL
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https://www.nasdaq.com/articles/airlines-ceos-to-testify-before-senate-panel-ahead-of-holiday-season-rush
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(RTTNews) - Executives of different airlines will take questions from a Senate panel on Wednesday on the issue of flight cancellations and staff shortfalls in spite of securing $54 billion in taxpayer aid to help cover labor costs during the Coronavirus pandemic period. The CEOs of airline companies like American Airlines, United Airlines and Southwest Airlines and the chief of operations at Delta will take the stand before the panel. In their written testimony for the hearing of the Senate Committee on Commerce, Science, and Transportation, the executives said that the government aid helped them tide over the crisis and they can now focus on hiring and revamping the airlines. The Senate panel will mostly ask the airline companies as to how they are preparing for the upcoming months of high travel and by when customers would start receiving their pending refunds.
American airline companies are said to have lost around $35 billion last year due to the COVID-19 pandemic and according to executives, the Payroll Support Program, which stopped them from laying off workers, was a lifesaver for them to overcome the crisis.
In his testimony, American Airlines CEO Doug Parker said, "It's not an exaggeration to say the program saved the airline industry, which Congress and the administration recognized as critical infrastructure that is as essential to the economy as it is unique."
Delta chief of operations, John Laughter said, "While we have seen travel stabilize across the U.S., the Omicron variant of COVID has demonstrated the ongoing volatility of the pandemic."
While airlines could not lay off workers, they brought down the number of working people by getting workers to take voluntary measures like buyouts, leaves of absence or temporarily kept away workers in exchange for reduced pay. The payroll aid was given mostly in the form of grants, which need not be repaid as well as some loans.
Airline operations were also affected by staffing shortfalls and other issues line exacerbated routine problems, bad weather, and led to many flight cancellations, especially with the holiday season around the corner. Airlines were adding staff as soon as they could to make up for the loss.
In July, Sen. Maria Cantwell, D-Wash, the committee's chairwoman wrote to major airline executives, raising issue about staffing problems' role in flight disruptions. "This reported workforce shortage runs counter to the objective and spirit of the PSP, which was to enable airlines to endure the pandemic and keep employees on payroll so that the industry was positioned to capture a rebound in demand," she wrote.
United Airlines, along with Delta, has been more conservative about bringing back flights than American and Southwest.
Sara Nelson, president of the Association of Flight Attendants, who worked closely with airline executives and lawmakers to get the payroll support approved, is also scheduled to testify in front of the committee. She called for increased protections for cabin crew when they come in contact with customers.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Executives of different airlines will take questions from a Senate panel on Wednesday on the issue of flight cancellations and staff shortfalls in spite of securing $54 billion in taxpayer aid to help cover labor costs during the Coronavirus pandemic period. Airline operations were also affected by staffing shortfalls and other issues line exacerbated routine problems, bad weather, and led to many flight cancellations, especially with the holiday season around the corner. "This reported workforce shortage runs counter to the objective and spirit of the PSP, which was to enable airlines to endure the pandemic and keep employees on payroll so that the industry was positioned to capture a rebound in demand," she wrote.
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The CEOs of airline companies like American Airlines, United Airlines and Southwest Airlines and the chief of operations at Delta will take the stand before the panel. In his testimony, American Airlines CEO Doug Parker said, "It's not an exaggeration to say the program saved the airline industry, which Congress and the administration recognized as critical infrastructure that is as essential to the economy as it is unique." In July, Sen. Maria Cantwell, D-Wash, the committee's chairwoman wrote to major airline executives, raising issue about staffing problems' role in flight disruptions.
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(RTTNews) - Executives of different airlines will take questions from a Senate panel on Wednesday on the issue of flight cancellations and staff shortfalls in spite of securing $54 billion in taxpayer aid to help cover labor costs during the Coronavirus pandemic period. The CEOs of airline companies like American Airlines, United Airlines and Southwest Airlines and the chief of operations at Delta will take the stand before the panel. American airline companies are said to have lost around $35 billion last year due to the COVID-19 pandemic and according to executives, the Payroll Support Program, which stopped them from laying off workers, was a lifesaver for them to overcome the crisis.
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The CEOs of airline companies like American Airlines, United Airlines and Southwest Airlines and the chief of operations at Delta will take the stand before the panel. In their written testimony for the hearing of the Senate Committee on Commerce, Science, and Transportation, the executives said that the government aid helped them tide over the crisis and they can now focus on hiring and revamping the airlines. Airline operations were also affected by staffing shortfalls and other issues line exacerbated routine problems, bad weather, and led to many flight cancellations, especially with the holiday season around the corner.
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3951.0
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2021-12-14 00:00:00 UTC
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U.S. airlines ramp up hiring plans -testimony
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AAL
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https://www.nasdaq.com/articles/u.s.-airlines-ramp-up-hiring-plans-testimony-0
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nan
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nan
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By David Shepardson
WASHINGTON, Dec 14 (Reuters) - Top executives of major U.S. airlines will tell a Senate committee Wednesday they are ramping up hiring even as some raise concerns about a COVID-19 variant on demand, according to testimony seen by Reuters.
Executives at a Senate Commerce Committee hearing will defend the $54 billion in COVID-19 government payroll assistance airlines received, and will say in total they plan to hire more than 30,000 workers in 2022.
Lawmakers are expected to quiz executives about how carriers used pandemic-related federal aid, staffing issues and other matters.
JetBlue JBLU.O Chief Executive Robin Hayes will say in written testimony the airline is on track to hire 4,550 new
crew members in 2021 and in 2022 plans to hire an additional 5,400 crew. Alaska Air ALK.N Group Chief Executive Ben Minicucci said in testimony it plans to hire more than 3,000 people.
Delta DAL.N Air Lines Chief of Operations John Laughter's testimony says the airline is hiring more than 6,100 Airport customer service agents and more than 600 pilots. He added the airline is "prepared for, an uneven, choppy recovery even as the virus is being contained.. The Omicron variant has created further uncertainty, and there is no clear consensus on when
business and international travel will return."
Southwest Chief Executive Gary Kelly will say "if the current demand environment holds, we should be able to pay off most of the debt we incurred during the pandemic within the next five years."
United Airlines Chief Executive Scott Kirby will tell the Senate panel "it is important to remember the shocking scale of this pandemic on the globe and its deep effect on our
industry. We are not completely out of the woods, and the emergence of the Omicron variant in recent
weeks is a stark reminder of that."
Kirby's testimony says the government payroll assistance "saved the industry while giving us the flexibility to not only think about how best to chart our recovery, but also to make meaningful, fundamental changes within our company."
On Monday, Reuters reported that American Airlines AAL.O Chief Executive Doug Parker will tell the committee the airline plans to hire 18,000 employees in 2022 after hiring more than 16,000 employees in 2021.
"No airline has ever attempted to expand at the pace we did after a demand shock of the magnitude we experienced during the pandemic," Parker's testimony says.
(Reporting by David Shepardson; Editing by David Gregorio)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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On Monday, Reuters reported that American Airlines AAL.O Chief Executive Doug Parker will tell the committee the airline plans to hire 18,000 employees in 2022 after hiring more than 16,000 employees in 2021. Executives at a Senate Commerce Committee hearing will defend the $54 billion in COVID-19 government payroll assistance airlines received, and will say in total they plan to hire more than 30,000 workers in 2022. Delta DAL.N Air Lines Chief of Operations John Laughter's testimony says the airline is hiring more than 6,100 Airport customer service agents and more than 600 pilots.
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On Monday, Reuters reported that American Airlines AAL.O Chief Executive Doug Parker will tell the committee the airline plans to hire 18,000 employees in 2022 after hiring more than 16,000 employees in 2021. Executives at a Senate Commerce Committee hearing will defend the $54 billion in COVID-19 government payroll assistance airlines received, and will say in total they plan to hire more than 30,000 workers in 2022. Kirby's testimony says the government payroll assistance "saved the industry while giving us the flexibility to not only think about how best to chart our recovery, but also to make meaningful, fundamental changes within our company."
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On Monday, Reuters reported that American Airlines AAL.O Chief Executive Doug Parker will tell the committee the airline plans to hire 18,000 employees in 2022 after hiring more than 16,000 employees in 2021. By David Shepardson WASHINGTON, Dec 14 (Reuters) - Top executives of major U.S. airlines will tell a Senate committee Wednesday they are ramping up hiring even as some raise concerns about a COVID-19 variant on demand, according to testimony seen by Reuters. JetBlue JBLU.O Chief Executive Robin Hayes will say in written testimony the airline is on track to hire 4,550 new crew members in 2021 and in 2022 plans to hire an additional 5,400 crew.
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On Monday, Reuters reported that American Airlines AAL.O Chief Executive Doug Parker will tell the committee the airline plans to hire 18,000 employees in 2022 after hiring more than 16,000 employees in 2021. Alaska Air ALK.N Group Chief Executive Ben Minicucci said in testimony it plans to hire more than 3,000 people. United Airlines Chief Executive Scott Kirby will tell the Senate panel "it is important to remember the shocking scale of this pandemic on the globe and its deep effect on our industry.
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3952.0
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2021-12-14 00:00:00 UTC
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U.S. airlines ramp up hiring plans -- testimony
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AAL
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https://www.nasdaq.com/articles/u.s.-airlines-ramp-up-hiring-plans-testimony
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nan
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nan
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WASHINGTON, Dec 14 (Reuters) - Major U.S. airlines will tell a Senate committee Wednesday they are ramping up hiring even as some raise concerns about a COVID-19 variant on demand, according to testimony seen by Reuters.
JetBlue JBLU.O Chief Executive Robin Hayes will say in written testimony the airline is on track to hire 4,550 new
crew members in 2021 and in 2022 plans to hire an additional 5,400 crew. Alaska Air ALK.N Group Chief Executive Ben Minicucci said in testimony it plans to hire more than 3,000 people.
Delta DAL.N Air Lines Chief of Operations John Laughter's testimony says the airline is hiring more than 6,100 Airport Customer Service Agents and more than 600 pilots. He added the airline is "prepared for, an uneven, choppy recovery even as the virus is being contained.. The Omicron variant has created further uncertainty, and there is no clear consensus on when
business and international travel will return."
(Reporting by David Shepardson)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alaska Air ALK.N Group Chief Executive Ben Minicucci said in testimony it plans to hire more than 3,000 people. Delta DAL.N Air Lines Chief of Operations John Laughter's testimony says the airline is hiring more than 6,100 Airport Customer Service Agents and more than 600 pilots. The Omicron variant has created further uncertainty, and there is no clear consensus on when business and international travel will return."
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JetBlue JBLU.O Chief Executive Robin Hayes will say in written testimony the airline is on track to hire 4,550 new crew members in 2021 and in 2022 plans to hire an additional 5,400 crew. Alaska Air ALK.N Group Chief Executive Ben Minicucci said in testimony it plans to hire more than 3,000 people. Delta DAL.N Air Lines Chief of Operations John Laughter's testimony says the airline is hiring more than 6,100 Airport Customer Service Agents and more than 600 pilots.
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WASHINGTON, Dec 14 (Reuters) - Major U.S. airlines will tell a Senate committee Wednesday they are ramping up hiring even as some raise concerns about a COVID-19 variant on demand, according to testimony seen by Reuters. JetBlue JBLU.O Chief Executive Robin Hayes will say in written testimony the airline is on track to hire 4,550 new crew members in 2021 and in 2022 plans to hire an additional 5,400 crew. Delta DAL.N Air Lines Chief of Operations John Laughter's testimony says the airline is hiring more than 6,100 Airport Customer Service Agents and more than 600 pilots.
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WASHINGTON, Dec 14 (Reuters) - Major U.S. airlines will tell a Senate committee Wednesday they are ramping up hiring even as some raise concerns about a COVID-19 variant on demand, according to testimony seen by Reuters. JetBlue JBLU.O Chief Executive Robin Hayes will say in written testimony the airline is on track to hire 4,550 new crew members in 2021 and in 2022 plans to hire an additional 5,400 crew. Alaska Air ALK.N Group Chief Executive Ben Minicucci said in testimony it plans to hire more than 3,000 people.
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3953.0
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2021-12-13 00:00:00 UTC
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U.S. says antitrust suit challenging air alliance should advance
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AAL
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https://www.nasdaq.com/articles/u.s.-says-antitrust-suit-challenging-air-alliance-should-advance
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nan
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By David Shepardson
WASHINGTON, Dec 13 (Reuters) - The Justice Department said on Monday a judge should reject a bid by American Airlines AAL.O and JetBlue Airways Corp JBLU.O to dismiss an antitrust lawsuit over their "Northeast Alliance" partnership.
The lawsuit filed in September by the U.S. government and six states alleges the deal would lead to higher fares in busy Northeastern U.S. airports and seeks to unwind the partnership.
The Justice Department and six states including California, Massachusetts and Arizona said in a court filing on Monday the Northeast Alliance "seeks to accomplish through a joint venture what would not be tolerated as a merger: eliminating significant competition between a dominant airline and a uniquely disruptive competitor. ... Instead of fighting with JetBlue, American now seeks to co-opt it."
The lawsuit is set to go to trial in late September 2022.
The government argued the "Northeast Alliance will cost consumers hundreds of millions of dollars" and the "promised benefits do not justify these harms." The government said "at a minimum, however, their promises should be tested through discovery and trial."
American did not immediately comment, while JetBlue did not immediately respond to a request for comment.
The airlines argue the Justice Department and states should allow the alliance to continue to prove itself. They note their commitments to expansion, oversight and measures to address possible anticompetitive effects.
The agreement allows American and JetBlue to sell each other's flights in their New York-area and Boston networks and link frequent-flyer programs in a move aimed at giving them more muscle to compete with United Airlines UAL.N and Delta Air Lines DAL.N in the Northeast.
The partnership was announced in July 2020 and approved by the U.S. Transportation Department shortly before the end of the Trump administration.
The lawsuit signals the Biden administration's interest in greater competition where American and three other airlines control 80% of the domestic air market.
(Reporting by David Shepardson; Editing by Peter Cooney)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson WASHINGTON, Dec 13 (Reuters) - The Justice Department said on Monday a judge should reject a bid by American Airlines AAL.O and JetBlue Airways Corp JBLU.O to dismiss an antitrust lawsuit over their "Northeast Alliance" partnership. The Justice Department and six states including California, Massachusetts and Arizona said in a court filing on Monday the Northeast Alliance "seeks to accomplish through a joint venture what would not be tolerated as a merger: eliminating significant competition between a dominant airline and a uniquely disruptive competitor. The agreement allows American and JetBlue to sell each other's flights in their New York-area and Boston networks and link frequent-flyer programs in a move aimed at giving them more muscle to compete with United Airlines UAL.N and Delta Air Lines DAL.N in the Northeast.
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By David Shepardson WASHINGTON, Dec 13 (Reuters) - The Justice Department said on Monday a judge should reject a bid by American Airlines AAL.O and JetBlue Airways Corp JBLU.O to dismiss an antitrust lawsuit over their "Northeast Alliance" partnership. The Justice Department and six states including California, Massachusetts and Arizona said in a court filing on Monday the Northeast Alliance "seeks to accomplish through a joint venture what would not be tolerated as a merger: eliminating significant competition between a dominant airline and a uniquely disruptive competitor. The government argued the "Northeast Alliance will cost consumers hundreds of millions of dollars" and the "promised benefits do not justify these harms."
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By David Shepardson WASHINGTON, Dec 13 (Reuters) - The Justice Department said on Monday a judge should reject a bid by American Airlines AAL.O and JetBlue Airways Corp JBLU.O to dismiss an antitrust lawsuit over their "Northeast Alliance" partnership. The Justice Department and six states including California, Massachusetts and Arizona said in a court filing on Monday the Northeast Alliance "seeks to accomplish through a joint venture what would not be tolerated as a merger: eliminating significant competition between a dominant airline and a uniquely disruptive competitor. The agreement allows American and JetBlue to sell each other's flights in their New York-area and Boston networks and link frequent-flyer programs in a move aimed at giving them more muscle to compete with United Airlines UAL.N and Delta Air Lines DAL.N in the Northeast.
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By David Shepardson WASHINGTON, Dec 13 (Reuters) - The Justice Department said on Monday a judge should reject a bid by American Airlines AAL.O and JetBlue Airways Corp JBLU.O to dismiss an antitrust lawsuit over their "Northeast Alliance" partnership. Instead of fighting with JetBlue, American now seeks to co-opt it." The lawsuit is set to go to trial in late September 2022.
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3954.0
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2021-12-13 00:00:00 UTC
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American Airlines CEO: U.S. COVID-19 aid 'saved' industry
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AAL
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https://www.nasdaq.com/articles/american-airlines-ceo%3A-u.s.-covid-19-aid-saved-industry-0
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nan
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nan
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By David Shepardson
WASHINGTON, Dec 13 (Reuters) - American Airlines AAL.O Chief Executive Doug Parker will tell a U.S. Senate committee that $54 billion in COVID-19 U.S. government assistance "saved the airline industry," according to testimony seen by Reuters.
Parker is set to testify alongside the chief executives of Southwest Airlines LUV.N and United Airlines UAL.N on Wednesday. Delta's chief of operations will also testify.
Parker will tell the panel that had Congress structured the entire assistance as government loans most airlines "would have survived by shutting down flying in April 2020, furloughing almost all of our teams, and waiting for demand to return to levels strong enough to justify restoring flying. As it turns out, that would have been some time in 2021."
Lawmakers are expected to quiz executives about how carriers used pandemic-related federal aid, staffing issues and other matters.
Parker will also say the airline has "set a target of hiring an additional 18,000 team members in 2022."
Lawmakers want to know if voluntary employee buyouts offered by airlines, despite receiving payroll assistance, caused operational problems at some carriers that have resulted in the cancellation of hundreds of flights in recent months.
American Airlines canceled more than 1,400 flights over a weekend in October citing staffing issues and unfavorable weather.
Parker will note the airline has "developed incentive pay programs for peak travel periods to fortify our efforts to operate every flight on our schedule."
In total, Congress awarded three rounds of government assistance to the airlines that lasted through Sept. 30.
Airlines receiving government assistance were not allowed to issue involuntary layoffs or cut worker pay. They also had to limit executive compensation and halt share buybacks and dividend payments.
U.S. air passenger travel fell by 60% in 2020 to the lowest level since 1984, down more than 550 million passengers.
The U.S. government also extended $25 billion in low-cost loans to airlines. Of the $54 billion in payroll grants, U.S. Treasury required larger airlines to repay 30% and award the government warrants.
(Reporting by David Shepardson; Editing by Chris Reese and Stephen Coates)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson WASHINGTON, Dec 13 (Reuters) - American Airlines AAL.O Chief Executive Doug Parker will tell a U.S. Senate committee that $54 billion in COVID-19 U.S. government assistance "saved the airline industry," according to testimony seen by Reuters. Lawmakers want to know if voluntary employee buyouts offered by airlines, despite receiving payroll assistance, caused operational problems at some carriers that have resulted in the cancellation of hundreds of flights in recent months. Parker will note the airline has "developed incentive pay programs for peak travel periods to fortify our efforts to operate every flight on our schedule."
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By David Shepardson WASHINGTON, Dec 13 (Reuters) - American Airlines AAL.O Chief Executive Doug Parker will tell a U.S. Senate committee that $54 billion in COVID-19 U.S. government assistance "saved the airline industry," according to testimony seen by Reuters. Lawmakers want to know if voluntary employee buyouts offered by airlines, despite receiving payroll assistance, caused operational problems at some carriers that have resulted in the cancellation of hundreds of flights in recent months. Airlines receiving government assistance were not allowed to issue involuntary layoffs or cut worker pay.
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By David Shepardson WASHINGTON, Dec 13 (Reuters) - American Airlines AAL.O Chief Executive Doug Parker will tell a U.S. Senate committee that $54 billion in COVID-19 U.S. government assistance "saved the airline industry," according to testimony seen by Reuters. Parker is set to testify alongside the chief executives of Southwest Airlines LUV.N and United Airlines UAL.N on Wednesday. Parker will tell the panel that had Congress structured the entire assistance as government loans most airlines "would have survived by shutting down flying in April 2020, furloughing almost all of our teams, and waiting for demand to return to levels strong enough to justify restoring flying.
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By David Shepardson WASHINGTON, Dec 13 (Reuters) - American Airlines AAL.O Chief Executive Doug Parker will tell a U.S. Senate committee that $54 billion in COVID-19 U.S. government assistance "saved the airline industry," according to testimony seen by Reuters. Parker is set to testify alongside the chief executives of Southwest Airlines LUV.N and United Airlines UAL.N on Wednesday. Parker will tell the panel that had Congress structured the entire assistance as government loans most airlines "would have survived by shutting down flying in April 2020, furloughing almost all of our teams, and waiting for demand to return to levels strong enough to justify restoring flying.
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3955.0
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2021-12-13 00:00:00 UTC
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American Airlines CEO: U.S. COVID-19 aid 'saved' industry
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AAL
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https://www.nasdaq.com/articles/american-airlines-ceo%3A-u.s.-covid-19-aid-saved-industry
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nan
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nan
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WASHINGTON, Dec 13 (Reuters) - American Airlines AAL.O Chief Executive Doug Parker will tell a U.S. Senate committee that $54 billion in COVID-19 U.S. government assistance "saved the airline industry," according to testimony seen by Reuters.
Parker is set to testify alongside the chief executives of Southwest Airlines LUV.N and United Airlines UAL.N on Wednesday.
He will tell the panel that had Congress structured the entire assistance as government loans most airlines "would have survived by shutting down flying in April 2020, furloughing almost all of our teams, and waiting for demand to return to levels strong enough to justify restoring flying. As it turns out, that would have been sometime in 2021."
(Reporting by David Shepardson Editing by Chris Reese)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
WASHINGTON, Dec 13 (Reuters) - American Airlines AAL.O Chief Executive Doug Parker will tell a U.S. Senate committee that $54 billion in COVID-19 U.S. government assistance "saved the airline industry," according to testimony seen by Reuters. He will tell the panel that had Congress structured the entire assistance as government loans most airlines "would have survived by shutting down flying in April 2020, furloughing almost all of our teams, and waiting for demand to return to levels strong enough to justify restoring flying. (Reporting by David Shepardson Editing by Chris Reese) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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WASHINGTON, Dec 13 (Reuters) - American Airlines AAL.O Chief Executive Doug Parker will tell a U.S. Senate committee that $54 billion in COVID-19 U.S. government assistance "saved the airline industry," according to testimony seen by Reuters. Parker is set to testify alongside the chief executives of Southwest Airlines LUV.N and United Airlines UAL.N on Wednesday. He will tell the panel that had Congress structured the entire assistance as government loans most airlines "would have survived by shutting down flying in April 2020, furloughing almost all of our teams, and waiting for demand to return to levels strong enough to justify restoring flying.
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WASHINGTON, Dec 13 (Reuters) - American Airlines AAL.O Chief Executive Doug Parker will tell a U.S. Senate committee that $54 billion in COVID-19 U.S. government assistance "saved the airline industry," according to testimony seen by Reuters. As it turns out, that would have been sometime in 2021." (Reporting by David Shepardson Editing by Chris Reese) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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WASHINGTON, Dec 13 (Reuters) - American Airlines AAL.O Chief Executive Doug Parker will tell a U.S. Senate committee that $54 billion in COVID-19 U.S. government assistance "saved the airline industry," according to testimony seen by Reuters. Parker is set to testify alongside the chief executives of Southwest Airlines LUV.N and United Airlines UAL.N on Wednesday. He will tell the panel that had Congress structured the entire assistance as government loans most airlines "would have survived by shutting down flying in April 2020, furloughing almost all of our teams, and waiting for demand to return to levels strong enough to justify restoring flying.
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3956.0
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2021-12-13 00:00:00 UTC
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Virgin Australia switches U.S. partner to United from Delta
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AAL
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https://www.nasdaq.com/articles/virgin-australia-switches-u.s.-partner-to-united-from-delta-0
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nan
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Adds destination details, Delta comment
SYDNEY, Dec 14 (Reuters) - Virgin Australia said on Tuesday it would enter a new codeshare and loyalty partnership with United Airlines UAL.O from April 2022, replacing a longstanding partnership with Delta Air Lines DAL.N on U.S. routes.
Virgin last year stopped flying from Australia to Los Angeles but had maintained a relationship with Delta in competition with a rival partnership between Qantas Airways QAN.AX and American Airlines AAL.O.
United has a much larger market share than Delta on routes between Australia and the United States and Virgin said the new partnership would triple its reach into the Americas, including on flights to Mexico, the Caribbean and South America.
United customers will also gain access to Virgin's extensive domestic network in Australia under the arrangement.
Delta said in a separate statement that its operations to Australia would not be affected by Virgin's decision and it would continue to operate flights between Sydney and Los Angeles after their partnership ends in June 2022.
(Reporting by Jamie Freed; editing by Richard Pullin)
((Jamie.Freed@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Virgin last year stopped flying from Australia to Los Angeles but had maintained a relationship with Delta in competition with a rival partnership between Qantas Airways QAN.AX and American Airlines AAL.O. Adds destination details, Delta comment SYDNEY, Dec 14 (Reuters) - Virgin Australia said on Tuesday it would enter a new codeshare and loyalty partnership with United Airlines UAL.O from April 2022, replacing a longstanding partnership with Delta Air Lines DAL.N on U.S. routes. United customers will also gain access to Virgin's extensive domestic network in Australia under the arrangement.
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Virgin last year stopped flying from Australia to Los Angeles but had maintained a relationship with Delta in competition with a rival partnership between Qantas Airways QAN.AX and American Airlines AAL.O. Adds destination details, Delta comment SYDNEY, Dec 14 (Reuters) - Virgin Australia said on Tuesday it would enter a new codeshare and loyalty partnership with United Airlines UAL.O from April 2022, replacing a longstanding partnership with Delta Air Lines DAL.N on U.S. routes. United has a much larger market share than Delta on routes between Australia and the United States and Virgin said the new partnership would triple its reach into the Americas, including on flights to Mexico, the Caribbean and South America.
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Virgin last year stopped flying from Australia to Los Angeles but had maintained a relationship with Delta in competition with a rival partnership between Qantas Airways QAN.AX and American Airlines AAL.O. Adds destination details, Delta comment SYDNEY, Dec 14 (Reuters) - Virgin Australia said on Tuesday it would enter a new codeshare and loyalty partnership with United Airlines UAL.O from April 2022, replacing a longstanding partnership with Delta Air Lines DAL.N on U.S. routes. United has a much larger market share than Delta on routes between Australia and the United States and Virgin said the new partnership would triple its reach into the Americas, including on flights to Mexico, the Caribbean and South America.
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Virgin last year stopped flying from Australia to Los Angeles but had maintained a relationship with Delta in competition with a rival partnership between Qantas Airways QAN.AX and American Airlines AAL.O. Adds destination details, Delta comment SYDNEY, Dec 14 (Reuters) - Virgin Australia said on Tuesday it would enter a new codeshare and loyalty partnership with United Airlines UAL.O from April 2022, replacing a longstanding partnership with Delta Air Lines DAL.N on U.S. routes. United has a much larger market share than Delta on routes between Australia and the United States and Virgin said the new partnership would triple its reach into the Americas, including on flights to Mexico, the Caribbean and South America.
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3957.0
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2021-12-13 00:00:00 UTC
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Virgin Australia switches U.S. partner to United from Delta
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AAL
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https://www.nasdaq.com/articles/virgin-australia-switches-u.s.-partner-to-united-from-delta
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nan
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nan
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SYDNEY, Dec 14 (Reuters) - Virgin Australia said on Tuesday it would enter a new codeshare and loyalty partnership with United Airlines UAL.O from April 2022, replacing a longstanding partnership with Delta Air Lines DAL.N on U.S. routes.
Virgin last year stopped flying from Australia to Los Angeles but had maintained a relationship with Delta in competition to a rival partnership between Qantas Airways QAN.AX and American Airlines AAL.O.
United has a much larger market share than Delta on routes between Australia and the United States.
(Reporting by Jamie Freed Editing by Chris Reese)
((Jamie.Freed@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Virgin last year stopped flying from Australia to Los Angeles but had maintained a relationship with Delta in competition to a rival partnership between Qantas Airways QAN.AX and American Airlines AAL.O. SYDNEY, Dec 14 (Reuters) - Virgin Australia said on Tuesday it would enter a new codeshare and loyalty partnership with United Airlines UAL.O from April 2022, replacing a longstanding partnership with Delta Air Lines DAL.N on U.S. routes. (Reporting by Jamie Freed Editing by Chris Reese) ((Jamie.Freed@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Virgin last year stopped flying from Australia to Los Angeles but had maintained a relationship with Delta in competition to a rival partnership between Qantas Airways QAN.AX and American Airlines AAL.O. SYDNEY, Dec 14 (Reuters) - Virgin Australia said on Tuesday it would enter a new codeshare and loyalty partnership with United Airlines UAL.O from April 2022, replacing a longstanding partnership with Delta Air Lines DAL.N on U.S. routes. United has a much larger market share than Delta on routes between Australia and the United States.
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Virgin last year stopped flying from Australia to Los Angeles but had maintained a relationship with Delta in competition to a rival partnership between Qantas Airways QAN.AX and American Airlines AAL.O. SYDNEY, Dec 14 (Reuters) - Virgin Australia said on Tuesday it would enter a new codeshare and loyalty partnership with United Airlines UAL.O from April 2022, replacing a longstanding partnership with Delta Air Lines DAL.N on U.S. routes. (Reporting by Jamie Freed Editing by Chris Reese) ((Jamie.Freed@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Virgin last year stopped flying from Australia to Los Angeles but had maintained a relationship with Delta in competition to a rival partnership between Qantas Airways QAN.AX and American Airlines AAL.O. SYDNEY, Dec 14 (Reuters) - Virgin Australia said on Tuesday it would enter a new codeshare and loyalty partnership with United Airlines UAL.O from April 2022, replacing a longstanding partnership with Delta Air Lines DAL.N on U.S. routes. United has a much larger market share than Delta on routes between Australia and the United States.
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3958.0
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2021-12-13 00:00:00 UTC
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UAL Stock: 13 Things for United Airlines Investor to Know as Shares Fly Lower Monday
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AAL
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https://www.nasdaq.com/articles/ual-stock%3A-13-things-for-united-airlines-investor-to-know-as-shares-fly-lower-monday
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
United Airlines (NASDAQ:UAL) stock is losing altitude on Monday and we’ve got everything investors need to know about the fall.
Source: travelview / Shutterstock.com
Let’s dive into the most recent news that has UAL stock feeling sluggish today below!
The biggest factor likely affecting UAL stock today is spreading news of the Covid-19 variant Omicron.
Several markets, including travel, have been affected by fears that the spread of Omicron could result in more travel bans.
That’s despite early results showing that the coronavirus variant is less dangerous than previous versions.
Even so, reports out of the U.K. note hospitalizations as the virus continues to spread.
That includes British Prime Minister Boris Johnson confirming one death of a person infected with the virus.
Extra details on this patient, including age, health, and vaccination status, haven’t been revealed.
7 Stocks to Buy Now for a Potential Year-End Rally
Instead, the bigger concern investors have is how fast the virus is spreading.
While not as deadly, Omicron is spreading incredibly fast with the U.K. reporting new cases almost doubling to 1,239 from Saturday to Sunday.
UAL isn’t the only flight stock falling today on Omicron fears.
Others in the space, including Delta Air Lines (NYSE:DAL), American Airlines (NASDAQ:AAL), and Southwest Airlines (NYSE:LUV), are also seeing their shares fall today.
The dip in UAL stock has it seeing a decent amount of trading today.
That includes some 11 million shares on the move as of this writing.
That’s quickly approaching the company’s daily average trading volume of 12.7 million shares.
UAL stock is down 5.9% as of Monday afternoon.
There’s morestock market newsworth jumping into below!
Investors looking for thelatest stock market newsare in the right place. We’ve got everything that’s happening with shares of Rivian Automative (NASDAQ:RIVN), meme stocks, and GoPro (NASDAQ:GPRO) today. You can learn more at the following links!
More Monday Stock Market News
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GPRO Stock Price Prediction: Why One Analyst Is Raising Its GoPro Target
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
The post UAL Stock: 13 Things for United Airlines Investor to Know as Shares Fly Lower Monday appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Others in the space, including Delta Air Lines (NYSE:DAL), American Airlines (NASDAQ:AAL), and Southwest Airlines (NYSE:LUV), are also seeing their shares fall today. That includes British Prime Minister Boris Johnson confirming one death of a person infected with the virus. 7 Stocks to Buy Now for a Potential Year-End Rally Instead, the bigger concern investors have is how fast the virus is spreading.
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Others in the space, including Delta Air Lines (NYSE:DAL), American Airlines (NASDAQ:AAL), and Southwest Airlines (NYSE:LUV), are also seeing their shares fall today. InvestorPlace - Stock Market News, Stock Advice & Trading Tips United Airlines (NASDAQ:UAL) stock is losing altitude on Monday and we’ve got everything investors need to know about the fall. The biggest factor likely affecting UAL stock today is spreading news of the Covid-19 variant Omicron.
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Others in the space, including Delta Air Lines (NYSE:DAL), American Airlines (NASDAQ:AAL), and Southwest Airlines (NYSE:LUV), are also seeing their shares fall today. InvestorPlace - Stock Market News, Stock Advice & Trading Tips United Airlines (NASDAQ:UAL) stock is losing altitude on Monday and we’ve got everything investors need to know about the fall. The biggest factor likely affecting UAL stock today is spreading news of the Covid-19 variant Omicron.
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Others in the space, including Delta Air Lines (NYSE:DAL), American Airlines (NASDAQ:AAL), and Southwest Airlines (NYSE:LUV), are also seeing their shares fall today. InvestorPlace - Stock Market News, Stock Advice & Trading Tips United Airlines (NASDAQ:UAL) stock is losing altitude on Monday and we’ve got everything investors need to know about the fall. The biggest factor likely affecting UAL stock today is spreading news of the Covid-19 variant Omicron.
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3959.0
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2021-12-13 00:00:00 UTC
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American Airlines: Does Its Price Justify the Risks?
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AAL
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https://www.nasdaq.com/articles/american-airlines%3A-does-its-price-justify-the-risks
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American Airlines Group (AAL) is an American company that has been operating in the aviation industry since 2013.
I am neutral on American Airlines Group because while the share price is suppressed, it is still running up heavy losses, making it difficult to value. In addition, Wall Street analysts are overwhelmingly bearish on the stock. (See Analysts’ Top Stocks on TipRanks)
Strengths
American Airlines Group is an airline holding company founded in 2013 by the merger of AMR Corporation and US Airways Group. All flights from these predecessors are now operating under the American Airlines Brand.
The company operates the largest airline in terms of passengers, fleet size, and passenger-kilometers flown. The company was ranked seventieth in the Fortune 500 list based on revenue. American Airlines Group serves about 350 destinations worldwide. The company has three divisions: American Airlines Cargo, American Eagle, and American Airlines Shuttle.
Recent Results
In the third quarter of 2021, the company reported total revenue of $9 billion, showing a 64% increase year-over-year. Passenger revenue contributed $7.9 billion, with cargo revenue following at $332 million.
The net profit for the quarter was $169 million or $0.25 per diluted share. This is an increase from the same period last year, where the company faced a loss of $2.4 billion. The total loss for the nine months ended as of September 2021 is $1.1 billion, which is an improvement from the previous year’s $6.7 billion loss for the same period.
By the end of the third quarter, the company reported that it had $18 billion worth of available liquidity and expects to see an increase in revenue due to higher travel demand in the fourth quarter.
It reported that it is working towards paying approximately $15 billion of debt by the end of 2025. As of the third quarter of 2021, the company reported a total employee count of 119,800, an increase of 8.4% year-over-year.
Valuation Metrics
American Airlines stock is very difficult to value at the moment as it is running up steep losses due to the COVID-19 outbreak. Nonetheless, growth is expected to be strong going forward as revenue is expected to soar by 70% in 2021 and 45.2% in 2022. Moreover, normalized earnings-per-share are expected to increase by 55.9% in 2021 and 100.3% in 2022.
Wall Street’s Take
Turning to Wall Street, American Airlines earns a Moderate Sell consensus rating, based on one Buy, three Holds, and four Sells assigned in the past three months. The average American Airlines price target of $18.56 implies 8.8% upside potential.
Summary and Conclusion
American Airlines is a leading airline brand that benefits from significant brand-name recognition, economies of scale, and network advantages. Additionally, the company is expected to grow rapidly in the coming years as the economy recovers from the pandemic and consumer air travel habits return to normal.
On the other hand, Wall Street analysts are generally bearish on the stock, with the price target implying minimal upside from here over the next year. Furthermore, the stock is very difficult to value at the moment due to the company running up steep losses. As a result, investors should realize that this is currently a very risky stock and may want to invest their money elsewhere.
Disclosure: At the time of publication, Samuel Smith did not have a position in any of the securities mentioned in this article.
Disclaimer: The information contained in this article represents the views and opinion of the writer only, and not the views or opinion of TipRanks or its affiliates Read full disclaimer >
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group (AAL) is an American company that has been operating in the aviation industry since 2013. Valuation Metrics American Airlines stock is very difficult to value at the moment as it is running up steep losses due to the COVID-19 outbreak. Additionally, the company is expected to grow rapidly in the coming years as the economy recovers from the pandemic and consumer air travel habits return to normal.
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American Airlines Group (AAL) is an American company that has been operating in the aviation industry since 2013. (See Analysts’ Top Stocks on TipRanks) Strengths American Airlines Group is an airline holding company founded in 2013 by the merger of AMR Corporation and US Airways Group. The average American Airlines price target of $18.56 implies 8.8% upside potential.
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American Airlines Group (AAL) is an American company that has been operating in the aviation industry since 2013. (See Analysts’ Top Stocks on TipRanks) Strengths American Airlines Group is an airline holding company founded in 2013 by the merger of AMR Corporation and US Airways Group. The company has three divisions: American Airlines Cargo, American Eagle, and American Airlines Shuttle.
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American Airlines Group (AAL) is an American company that has been operating in the aviation industry since 2013. I am neutral on American Airlines Group because while the share price is suppressed, it is still running up heavy losses, making it difficult to value. Passenger revenue contributed $7.9 billion, with cargo revenue following at $332 million.
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3960.0
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2021-12-13 00:00:00 UTC
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Why Airline Stocks Are Falling Today
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AAL
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https://www.nasdaq.com/articles/why-airline-stocks-are-falling-today
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nan
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nan
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What happened
On a day when the airlines are focused on the future, investors remain fixated on the challenges facing the sector today. Shares of American Airlines Group (NASDAQ: AAL), United Airlines Holdings (NASDAQ: UAL), Delta Air Lines (NYSE: DAL), and Southwest Airlines (NYSE: LUV) all fell as much as 5% on Monday, a weak day for markets overall.
So what
Airline stocks have underperformed since the early days of the pandemic. Travel was all but shut down as COVID-19 spread across the globe, and although demand has somewhat recovered since vaccine rollouts began, we are still looking at years before the industry fully recovers from the crisis.
Image source: Getty Images.
Investors have been watching travel stocks carefully since the first reports of a new variant surfaced. While so far the omicron variant appears unlikely to cause a new wave of travel restrictions, on Monday the World Health Organization cautioned that the variant poses a "very high" risk and data on its severity is still very limited.
The airlines, for what it is worth, are trying to look past the pandemic to when conditions normalize. On Monday, Delta announced it would invest a total of $1.2 billion in international partners Virgin Atlantic, Aeromexico, and Latam Airlines. All three existing Delta partners fell into financial trouble during the pandemic, but Delta relies on its alliances to provide travelers with a full list of international destinations and was eager to keep them loyal.
Delta after the investments will own a 49% stake in Virgin Atlantic, 20% in Aeromexico, and 10% in Latam.
United, meanwhile, announced an investment in hydrogen-electric engine developer ZeroAvia. As part of the deal United has the option to purchase up to 100 zero-emission engines that could be used by United Express regional aircraft before the end of the decade.
Now what
The contrast between the WHO's warnings about the coming months and both Delta's and United's actions to better compete in the second half of the decade is clear. And for investors, it creates an interesting dilemma.
The airlines showed their resilience last year as the pandemic worsened, and all of these companies should have ample resources to ride out the current variant and others that might follow. The industry is not going away, and there is a strong case to be made that post-pandemic pent-up demand, coupled with the rise of the global middle class, will mean strong travel demand in the years to come.
But that demand is not going to materialize overnight, and an extended pandemic means that an investor buying in today to benefit from the recovery is likely in for a long wait. Given the uncertainty, and the expected prolonged wait for a rebound, it will likely be difficult for airline stocks to gain elevation anytime soon.
For those who can tolerate turbulence, Delta's strong balance sheet, less unionized workforce, and top-notch management team makes it an intriguing investment. But it will take time for forward-looking actions like the investment in Virgin Atlantic and the Latin American carriers to pay off.
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Lou Whiteman owns Delta Air Lines. The Motley Fool recommends Delta Air Lines and Southwest Airlines. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of American Airlines Group (NASDAQ: AAL), United Airlines Holdings (NASDAQ: UAL), Delta Air Lines (NYSE: DAL), and Southwest Airlines (NYSE: LUV) all fell as much as 5% on Monday, a weak day for markets overall. The airlines showed their resilience last year as the pandemic worsened, and all of these companies should have ample resources to ride out the current variant and others that might follow. But that demand is not going to materialize overnight, and an extended pandemic means that an investor buying in today to benefit from the recovery is likely in for a long wait.
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Shares of American Airlines Group (NASDAQ: AAL), United Airlines Holdings (NASDAQ: UAL), Delta Air Lines (NYSE: DAL), and Southwest Airlines (NYSE: LUV) all fell as much as 5% on Monday, a weak day for markets overall. On Monday, Delta announced it would invest a total of $1.2 billion in international partners Virgin Atlantic, Aeromexico, and Latam Airlines. The Motley Fool recommends Delta Air Lines and Southwest Airlines.
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Shares of American Airlines Group (NASDAQ: AAL), United Airlines Holdings (NASDAQ: UAL), Delta Air Lines (NYSE: DAL), and Southwest Airlines (NYSE: LUV) all fell as much as 5% on Monday, a weak day for markets overall. On Monday, Delta announced it would invest a total of $1.2 billion in international partners Virgin Atlantic, Aeromexico, and Latam Airlines. 10 stocks we like better than Southwest Airlines When our award-winning analyst team has a stock tip, it can pay to listen.
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Shares of American Airlines Group (NASDAQ: AAL), United Airlines Holdings (NASDAQ: UAL), Delta Air Lines (NYSE: DAL), and Southwest Airlines (NYSE: LUV) all fell as much as 5% on Monday, a weak day for markets overall. So what Airline stocks have underperformed since the early days of the pandemic. On Monday, Delta announced it would invest a total of $1.2 billion in international partners Virgin Atlantic, Aeromexico, and Latam Airlines.
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3961.0
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2021-12-13 00:00:00 UTC
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US STOCKS-Wall St set to open higher as Apple leads; Fed meeting awaited
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AAL
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https://www.nasdaq.com/articles/us-stocks-wall-st-set-to-open-higher-as-apple-leads-fed-meeting-awaited
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By Shreyashi Sanyal and Bansari Mayur Kamdar
Dec 13 (Reuters) - U.S. stocks were set to rise on Monday, led by gains in Apple which neared $3 trillion in market capitalization, while investors braced for a Federal Reserve meeting later this week where it will likely signal faster tapering of monetary stimulus.
Apple Inc AAPL.O shares rose 1.4% in premarket trading after J.P. Morgan raised its price target on the iPhone maker's shares to the highest on Wall Street. It was poised to become the first company in the world to hit $3 trillion in market value.
"When you see big companies like (Apple) do well, it basically means that people are gravitating towards quality. Big companies that are very profitable, that have very strong cash flows are really considered a safe haven in many cases," said Randy Frederick, managing director of trading and derivatives at Charles Schwab.
Other technology and communications stocks including Meta Platforms Inc FB.O, Microsoft Corp MSFT.O, Netflix Inc NFLX.O and Alphabet Inc GOOGL.O also gained between 0.2% and 0.7%.
Wall Street's main indexes have recouped most of their declines from late November after the new Omicron variant of the coronavirus was detected, with the S&P 500 .SPX index hitting an all-time closing high on Friday.
Market participants have been buying up shares of mega-cap growth companies, along with many industrial bellwethers and value-oriented stocks, with many analysts pointing to investors buying the dip after the steep selloff caused by Omicron worries.
The Fed's policy decision still remains a top event for markets, with bets running high that the U.S. central bank will hint at a faster tapering of asset buying and an earlier start to raising interest rates.
A Reuters poll of economists sees the central bank hiking key interest rates from near zero to 0.25-0.50% in the third quarter of next year, followed by another in the fourth quarter.
Positive updates about vaccines and antibody cocktails to combat the new variant, along with a recent reading on inflation that was in line with consensus, have also kept sentiment afloat.
However, travel-related stocks fell on Monday after at least one patient died in the United Kingdom after contracting the Omicron variant of the coronavirus.
Shares of Carnival CorpCCL.Nand American AirlinesAAL.O fell more than 1% each tolead declines among cruise operators and air carriers.
"The big unknown is still the Omicron variant and we don't know just yet how that may affect markets and the economy but as long as that uncertainty exists the volatility is probably going to remain higher," Frederick said.
At 8:14 a.m. ET, Dow e-minis 1YMcv1 were up 21 points, or 0.06%, S&P 500 e-minis EScv1 were up 10 points, or 0.21%, and Nasdaq 100 e-minis NQcv1 were up 63.5 points, or 0.39%.
Pfizer Inc PFE.N rose 1.3% as it agreed to acquire Arena Pharmaceuticals ARNA.O in a $6.7 billion all-cash deal. Shares of Arena surged 90.4%.
(Reporting by Shreyashi Sanyal and Bansari Mayur Kamdar in Bengaluru; Editing by Maju Samuel)
((Shreyashi.Sanyal@thomsonreuters.com; +1 646 223 8780; +91 961 144 3740; Twitter: https://twitter.com/s_shreyashi;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of Carnival CorpCCL.Nand American AirlinesAAL.O fell more than 1% each tolead declines among cruise operators and air carriers. By Shreyashi Sanyal and Bansari Mayur Kamdar Dec 13 (Reuters) - U.S. stocks were set to rise on Monday, led by gains in Apple which neared $3 trillion in market capitalization, while investors braced for a Federal Reserve meeting later this week where it will likely signal faster tapering of monetary stimulus. Big companies that are very profitable, that have very strong cash flows are really considered a safe haven in many cases," said Randy Frederick, managing director of trading and derivatives at Charles Schwab.
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Shares of Carnival CorpCCL.Nand American AirlinesAAL.O fell more than 1% each tolead declines among cruise operators and air carriers. By Shreyashi Sanyal and Bansari Mayur Kamdar Dec 13 (Reuters) - U.S. stocks were set to rise on Monday, led by gains in Apple which neared $3 trillion in market capitalization, while investors braced for a Federal Reserve meeting later this week where it will likely signal faster tapering of monetary stimulus. The Fed's policy decision still remains a top event for markets, with bets running high that the U.S. central bank will hint at a faster tapering of asset buying and an earlier start to raising interest rates.
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Shares of Carnival CorpCCL.Nand American AirlinesAAL.O fell more than 1% each tolead declines among cruise operators and air carriers. By Shreyashi Sanyal and Bansari Mayur Kamdar Dec 13 (Reuters) - U.S. stocks were set to rise on Monday, led by gains in Apple which neared $3 trillion in market capitalization, while investors braced for a Federal Reserve meeting later this week where it will likely signal faster tapering of monetary stimulus. Apple Inc AAPL.O shares rose 1.4% in premarket trading after J.P. Morgan raised its price target on the iPhone maker's shares to the highest on Wall Street.
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Shares of Carnival CorpCCL.Nand American AirlinesAAL.O fell more than 1% each tolead declines among cruise operators and air carriers. By Shreyashi Sanyal and Bansari Mayur Kamdar Dec 13 (Reuters) - U.S. stocks were set to rise on Monday, led by gains in Apple which neared $3 trillion in market capitalization, while investors braced for a Federal Reserve meeting later this week where it will likely signal faster tapering of monetary stimulus. It was poised to become the first company in the world to hit $3 trillion in market value.
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3962.0
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2021-12-10 00:00:00 UTC
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Anglo American expects better 2022, 35% growth over next decade
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AAL
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https://www.nasdaq.com/articles/anglo-american-expects-better-2022-35-growth-over-next-decade-0
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Adds Woodsmith project,
Dec 10 (Reuters) - London-listed miner Anglo American Plc AAL.L on Friday forecast a stronger performance in 2022, banking on diamonds and iron ore, while planning to harness early copper from its Quellaveco project in Peru.
Quellaveco is a $5 billion development and one of the world's largest untapped copper resources.
The company, which will present its annual investor update on future strategy at 1100 GMT, said it was set to deliver 35% growth over the next decade at margins of 50%, while forecasting capital expenditure of $6.2 billion to $6.7 billion for 2022.
It also announced a leadership change with Tom McCulley, who has led the development of Quellaveco, taking over from Chris Fraser as chief executive of Crop Nutrients.
Anglo said that its Woodsmith polyhalite project in Britain would require an investment of $700 million in 2022.
Anglo bought Woodsmith for 386 million pounds ($510 million) in 2020, identifying the project in the North York Moors National Park as a "tier one" asset - a large scale, long-life, high margin deposit of polyhalite, a multi-nutrient fertiliser.
($1 = 0.7567 pounds)
(Reporting by Pushkala Aripaka in Bengaluru and Clara Denina in London; editing by Devika Syamnath and Jason Neely)
((Pushkala.A@thomsonreuters.com; Twitter: @pullthekart; Mobile: +91 852 751 3793 ;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds Woodsmith project, Dec 10 (Reuters) - London-listed miner Anglo American Plc AAL.L on Friday forecast a stronger performance in 2022, banking on diamonds and iron ore, while planning to harness early copper from its Quellaveco project in Peru. It also announced a leadership change with Tom McCulley, who has led the development of Quellaveco, taking over from Chris Fraser as chief executive of Crop Nutrients. ($1 = 0.7567 pounds) (Reporting by Pushkala Aripaka in Bengaluru and Clara Denina in London; editing by Devika Syamnath and Jason Neely) ((Pushkala.A@thomsonreuters.com; Twitter: @pullthekart; Mobile: +91 852 751 3793 ;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds Woodsmith project, Dec 10 (Reuters) - London-listed miner Anglo American Plc AAL.L on Friday forecast a stronger performance in 2022, banking on diamonds and iron ore, while planning to harness early copper from its Quellaveco project in Peru. Anglo said that its Woodsmith polyhalite project in Britain would require an investment of $700 million in 2022. Anglo bought Woodsmith for 386 million pounds ($510 million) in 2020, identifying the project in the North York Moors National Park as a "tier one" asset - a large scale, long-life, high margin deposit of polyhalite, a multi-nutrient fertiliser.
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Adds Woodsmith project, Dec 10 (Reuters) - London-listed miner Anglo American Plc AAL.L on Friday forecast a stronger performance in 2022, banking on diamonds and iron ore, while planning to harness early copper from its Quellaveco project in Peru. The company, which will present its annual investor update on future strategy at 1100 GMT, said it was set to deliver 35% growth over the next decade at margins of 50%, while forecasting capital expenditure of $6.2 billion to $6.7 billion for 2022. Anglo bought Woodsmith for 386 million pounds ($510 million) in 2020, identifying the project in the North York Moors National Park as a "tier one" asset - a large scale, long-life, high margin deposit of polyhalite, a multi-nutrient fertiliser.
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Adds Woodsmith project, Dec 10 (Reuters) - London-listed miner Anglo American Plc AAL.L on Friday forecast a stronger performance in 2022, banking on diamonds and iron ore, while planning to harness early copper from its Quellaveco project in Peru. Quellaveco is a $5 billion development and one of the world's largest untapped copper resources. The company, which will present its annual investor update on future strategy at 1100 GMT, said it was set to deliver 35% growth over the next decade at margins of 50%, while forecasting capital expenditure of $6.2 billion to $6.7 billion for 2022.
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3963.0
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2021-12-10 00:00:00 UTC
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JetBlue Stock: Should You Buy The Dip?
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AAL
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https://www.nasdaq.com/articles/jetblue-stock%3A-should-you-buy-the-dip
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nan
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nan
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With new travel rules imposed in the U.S. and across the world due to the Omicron variant, international travel demand is expected to remain low for a couple of months. After reaching pre-Covid levels in the second quarter, the shares of JetBlue Airways (NASDAQ: JBLU) declined in July due to rising fuel prices and the fourth wave of the pandemic. Currently, the passenger numbers at TSA checkpoints remain just 10% below the levels observed in 2019 – indicating continued demand for air travel despite ongoing travel restrictions. Notably, JBLU stock has lost $2.2 billion in market capitalization since February 2020 despite burning just $683 million of operating cash over the period. Also, the domestic business contributes almost 70% of JetBlue’s revenues and is likely to support earnings amid the ongoing international travel restrictions. Considering the negative impact of the Omicron variant for a quarter, Trefis believes that there is a sizable upside in JetBlue Airways stock. We highlight the historical trends in revenues, earnings, and stock price in an interactive dashboard analysis on JetBlue Valuation.
How did JetBlue Airways perform in the third quarter?
In Q3 2021, JetBlue Airways reported just 5% contraction in net revenues and a 0.8% reduction in capacity (available seat miles) over Q3 2019 – highlighting the complete recovery in passenger demand. The company earned $130 million of net income and $1.7 billion of cash from operations – assisting $770 million of capital spending and $737 million of debt retirements. On the operational side, occupancy rate almost reached pre-Covid levels of 79.9%, propelled by domestic demand and efficient capacity utilization.
A quick look at JetBlue’s historical performance
JetBlue Airways’ revenues increased by 15% from $7 billion in 2017 to $8.1 billion in 2019, assisted by capacity growth and rising ticket prices. In 2020, the company’s top line observed a 64% (y-o-y) contraction as air traffic demand plummeted and cost control measures were implemented. Moreover, the company’s net margins deteriorated from higher fuel expenses and administrative costs. Thus, the EPS decreased by 45% from $3.47 in 2017 to $1.92 in 2019, and ($4.88) in 2020. (related: Will Domestic Travel Demand Assist United Airlines Stock?)
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Returns Dec 2021
MTD [1] 2021
YTD [1] 2017-21
Total [2]
JBLU Return -5% -2% -36%
S&P 500 Return -2% 22% 105%
Trefis MS Portfolio Return -2% 41% 281%
[1] Month-to-date and year-to-date as of 12/7/2021
[2] Cumulative total returns since 2017
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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After reaching pre-Covid levels in the second quarter, the shares of JetBlue Airways (NASDAQ: JBLU) declined in July due to rising fuel prices and the fourth wave of the pandemic. In Q3 2021, JetBlue Airways reported just 5% contraction in net revenues and a 0.8% reduction in capacity (available seat miles) over Q3 2019 – highlighting the complete recovery in passenger demand. In 2020, the company’s top line observed a 64% (y-o-y) contraction as air traffic demand plummeted and cost control measures were implemented.
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After reaching pre-Covid levels in the second quarter, the shares of JetBlue Airways (NASDAQ: JBLU) declined in July due to rising fuel prices and the fourth wave of the pandemic. The company earned $130 million of net income and $1.7 billion of cash from operations – assisting $770 million of capital spending and $737 million of debt retirements. A quick look at JetBlue’s historical performance JetBlue Airways’ revenues increased by 15% from $7 billion in 2017 to $8.1 billion in 2019, assisted by capacity growth and rising ticket prices.
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After reaching pre-Covid levels in the second quarter, the shares of JetBlue Airways (NASDAQ: JBLU) declined in July due to rising fuel prices and the fourth wave of the pandemic. A quick look at JetBlue’s historical performance JetBlue Airways’ revenues increased by 15% from $7 billion in 2017 to $8.1 billion in 2019, assisted by capacity growth and rising ticket prices. Total [2] JBLU Return -5% -2% -36% S&P 500 Return -2% 22% 105% Trefis MS Portfolio Return -2% 41% 281% [1] Month-to-date and year-to-date as of 12/7/2021 [2] Cumulative total returns since 2017 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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A quick look at JetBlue’s historical performance JetBlue Airways’ revenues increased by 15% from $7 billion in 2017 to $8.1 billion in 2019, assisted by capacity growth and rising ticket prices. (related: Will Domestic Travel Demand Assist United Airlines Stock?) Total [2] JBLU Return -5% -2% -36% S&P 500 Return -2% 22% 105% Trefis MS Portfolio Return -2% 41% 281% [1] Month-to-date and year-to-date as of 12/7/2021 [2] Cumulative total returns since 2017 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3964.0
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2021-12-10 00:00:00 UTC
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Anglo American expects better 2022, 35% growth over next decade
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AAL
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https://www.nasdaq.com/articles/anglo-american-expects-better-2022-35-growth-over-next-decade
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nan
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nan
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Dec 10 (Reuters) - London-listed miner Anglo American Plc AAL.L on Friday forecast a stronger performance in 2022 than the current year, banking on diamonds, iron ore and plans to harness early copper from its Quellaveco project in Peru.
The company, which will hold its annual investor update on future strategy at 1100 GMT, said it was set to deliver 35% growth over the next decade at margins of 50%, while forecasting capital expenditure of $6.2 billion to $6.7 billion for 2022.
(Reporting by Pushkala Aripaka in Bengaluru; Editing by Devika Syamnath)
((Pushkala.A@thomsonreuters.com; Twitter: @pullthekart; Mobile: +91 852 751 3793 ;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dec 10 (Reuters) - London-listed miner Anglo American Plc AAL.L on Friday forecast a stronger performance in 2022 than the current year, banking on diamonds, iron ore and plans to harness early copper from its Quellaveco project in Peru. The company, which will hold its annual investor update on future strategy at 1100 GMT, said it was set to deliver 35% growth over the next decade at margins of 50%, while forecasting capital expenditure of $6.2 billion to $6.7 billion for 2022. (Reporting by Pushkala Aripaka in Bengaluru; Editing by Devika Syamnath) ((Pushkala.A@thomsonreuters.com; Twitter: @pullthekart; Mobile: +91 852 751 3793 ;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dec 10 (Reuters) - London-listed miner Anglo American Plc AAL.L on Friday forecast a stronger performance in 2022 than the current year, banking on diamonds, iron ore and plans to harness early copper from its Quellaveco project in Peru. The company, which will hold its annual investor update on future strategy at 1100 GMT, said it was set to deliver 35% growth over the next decade at margins of 50%, while forecasting capital expenditure of $6.2 billion to $6.7 billion for 2022. (Reporting by Pushkala Aripaka in Bengaluru; Editing by Devika Syamnath) ((Pushkala.A@thomsonreuters.com; Twitter: @pullthekart; Mobile: +91 852 751 3793 ;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dec 10 (Reuters) - London-listed miner Anglo American Plc AAL.L on Friday forecast a stronger performance in 2022 than the current year, banking on diamonds, iron ore and plans to harness early copper from its Quellaveco project in Peru. The company, which will hold its annual investor update on future strategy at 1100 GMT, said it was set to deliver 35% growth over the next decade at margins of 50%, while forecasting capital expenditure of $6.2 billion to $6.7 billion for 2022. (Reporting by Pushkala Aripaka in Bengaluru; Editing by Devika Syamnath) ((Pushkala.A@thomsonreuters.com; Twitter: @pullthekart; Mobile: +91 852 751 3793 ;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dec 10 (Reuters) - London-listed miner Anglo American Plc AAL.L on Friday forecast a stronger performance in 2022 than the current year, banking on diamonds, iron ore and plans to harness early copper from its Quellaveco project in Peru. The company, which will hold its annual investor update on future strategy at 1100 GMT, said it was set to deliver 35% growth over the next decade at margins of 50%, while forecasting capital expenditure of $6.2 billion to $6.7 billion for 2022. (Reporting by Pushkala Aripaka in Bengaluru; Editing by Devika Syamnath) ((Pushkala.A@thomsonreuters.com; Twitter: @pullthekart; Mobile: +91 852 751 3793 ;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3965.0
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2021-12-09 00:00:00 UTC
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American Airlines Trims International Flights Amid Boeing Delays
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AAL
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https://www.nasdaq.com/articles/american-airlines-trims-international-flights-amid-boeing-delays
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nan
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(RTTNews) - American Airlines Group Inc. (AAL) on Thursday announced that it would be cutting down on the number of its international flights during the next summer as there had been long delays in delivery of Boeing's 787 Dreamliners. According to reports, Boeing will compensate the airlines for the delay. The delivery of Boeing's wide-body Dreamliners were stopped for a major part of last year as the manufacturer and federal regulators took a second look at production flaws and required fixes.
The delays in production surface just when big Dreamliner customers like American and United Airlines are preparing for a hectic summer of international travel, after a two-year gap for what they expect to be a big summer for international travel after a two-year pandemic slump.
According to the original plan, American Airlines planned to bring back 89 percent of its 2019 international long-haul flying in the summer of 2022, but that has been turned back to around 80 percent.
Vasu Raja, American's chief revenue officer, said in an email to employees, "This weekend we will load our summer 2022 long-haul schedule, but it will not have the growth we initially expected. Boeing continues to be unable to deliver the 787s we have on order, including as many as 13 aircraft that were slated to be in our fleet by this winter. Without these widebodies, we simply won't be able to fly as much internationally as we had planned next summer, or as we did in summer."
As per the new plan, American Airlines won't serve Edinburgh, Scotland or Shannon, Ireland. The Airlines will also discontinue its Hong Kong service.
American also won't fly back from Prague and Dubrovnik, Croatia. The airline will also cut down the flights to Shanghai, Beijing and Sydney. Trans-Pacific travel is said to be the last to pick up, but in a very slow manner. American also plans to add non-stop service between New York's John F. Kennedy International Airport and Doha in June.
United Airlines didn't tell in detail how the delays could affect its international flying next year but said it was working with Boeing "to know how the delivery delays can affect our schedule."
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - American Airlines Group Inc. (AAL) on Thursday announced that it would be cutting down on the number of its international flights during the next summer as there had been long delays in delivery of Boeing's 787 Dreamliners. The delivery of Boeing's wide-body Dreamliners were stopped for a major part of last year as the manufacturer and federal regulators took a second look at production flaws and required fixes. Vasu Raja, American's chief revenue officer, said in an email to employees, "This weekend we will load our summer 2022 long-haul schedule, but it will not have the growth we initially expected.
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(RTTNews) - American Airlines Group Inc. (AAL) on Thursday announced that it would be cutting down on the number of its international flights during the next summer as there had been long delays in delivery of Boeing's 787 Dreamliners. According to the original plan, American Airlines planned to bring back 89 percent of its 2019 international long-haul flying in the summer of 2022, but that has been turned back to around 80 percent. As per the new plan, American Airlines won't serve Edinburgh, Scotland or Shannon, Ireland.
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(RTTNews) - American Airlines Group Inc. (AAL) on Thursday announced that it would be cutting down on the number of its international flights during the next summer as there had been long delays in delivery of Boeing's 787 Dreamliners. The delays in production surface just when big Dreamliner customers like American and United Airlines are preparing for a hectic summer of international travel, after a two-year gap for what they expect to be a big summer for international travel after a two-year pandemic slump. According to the original plan, American Airlines planned to bring back 89 percent of its 2019 international long-haul flying in the summer of 2022, but that has been turned back to around 80 percent.
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(RTTNews) - American Airlines Group Inc. (AAL) on Thursday announced that it would be cutting down on the number of its international flights during the next summer as there had been long delays in delivery of Boeing's 787 Dreamliners. Without these widebodies, we simply won't be able to fly as much internationally as we had planned next summer, or as we did in summer." United Airlines didn't tell in detail how the delays could affect its international flying next year but said it was working with Boeing "to know how the delivery delays can affect our schedule."
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3966.0
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2021-12-09 00:00:00 UTC
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American Airlines to reduce international flights next summer due to Dreamliner delays - WSJ
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https://www.nasdaq.com/articles/american-airlines-to-reduce-international-flights-next-summer-due-to-dreamliner-delays-wsj
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nan
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Adds details from the report, share movement
Dec 9 (Reuters) - American Airlines Group Inc AAL.O is planning to reduce international flights next summer because of delays from Boeing Co BA.N in delivering new 787 Dreamliners, the Wall Street Journal reported on Thursday, citing people familiar with the matter and a draft internal airline memo.
The no.1 U.S. airline will not fly to Edinburgh, Shannon in Ireland or Hong Kong next summer and will reduce the frequency of flights to Shanghai, Beijing and Sydney, the report said.
Deliveries of the 787 Dreamliner, which has faced manufacturing delays, are expected to resume by April 1 at the earliest, the report said citing sources.
Shares of the Texas-based carrier and Boeing were down about 1% each before the bell.
American Airlines and Boeing did not immediately respond to Reuters' requests for a comment.
(Reporting by Aishwarya Nair in Bengaluru; Editing by Krishna Chandra Eluri)
((Aishwarya.Nair@thomsonreuters.com; +91-8067494421;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds details from the report, share movement Dec 9 (Reuters) - American Airlines Group Inc AAL.O is planning to reduce international flights next summer because of delays from Boeing Co BA.N in delivering new 787 Dreamliners, the Wall Street Journal reported on Thursday, citing people familiar with the matter and a draft internal airline memo. The no.1 U.S. airline will not fly to Edinburgh, Shannon in Ireland or Hong Kong next summer and will reduce the frequency of flights to Shanghai, Beijing and Sydney, the report said. Deliveries of the 787 Dreamliner, which has faced manufacturing delays, are expected to resume by April 1 at the earliest, the report said citing sources.
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Adds details from the report, share movement Dec 9 (Reuters) - American Airlines Group Inc AAL.O is planning to reduce international flights next summer because of delays from Boeing Co BA.N in delivering new 787 Dreamliners, the Wall Street Journal reported on Thursday, citing people familiar with the matter and a draft internal airline memo. Deliveries of the 787 Dreamliner, which has faced manufacturing delays, are expected to resume by April 1 at the earliest, the report said citing sources. American Airlines and Boeing did not immediately respond to Reuters' requests for a comment.
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Adds details from the report, share movement Dec 9 (Reuters) - American Airlines Group Inc AAL.O is planning to reduce international flights next summer because of delays from Boeing Co BA.N in delivering new 787 Dreamliners, the Wall Street Journal reported on Thursday, citing people familiar with the matter and a draft internal airline memo. The no.1 U.S. airline will not fly to Edinburgh, Shannon in Ireland or Hong Kong next summer and will reduce the frequency of flights to Shanghai, Beijing and Sydney, the report said. (Reporting by Aishwarya Nair in Bengaluru; Editing by Krishna Chandra Eluri) ((Aishwarya.Nair@thomsonreuters.com; +91-8067494421;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds details from the report, share movement Dec 9 (Reuters) - American Airlines Group Inc AAL.O is planning to reduce international flights next summer because of delays from Boeing Co BA.N in delivering new 787 Dreamliners, the Wall Street Journal reported on Thursday, citing people familiar with the matter and a draft internal airline memo. The no.1 U.S. airline will not fly to Edinburgh, Shannon in Ireland or Hong Kong next summer and will reduce the frequency of flights to Shanghai, Beijing and Sydney, the report said. Deliveries of the 787 Dreamliner, which has faced manufacturing delays, are expected to resume by April 1 at the earliest, the report said citing sources.
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3967.0
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2021-12-09 00:00:00 UTC
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Chevron's shipping unit joins initiative to cut emissions
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https://www.nasdaq.com/articles/chevrons-shipping-unit-joins-initiative-to-cut-emissions
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Dec 9 (Reuters) - Oil major Chevron Corp CVX.N said on Thursday, its shipping unit has joined the Sea Cargo Charter, an initiative launched last year to cut and track emissions from ships, as efforts intensify to reduce the maritime industry's carbon footprint.
Under the Sea Cargo Charter, companies, including agrigroups Cargill, ADM ADM.N and Bunge BG.N, oil majors Royal Dutch Shell RDSa.L and Total and mining group Anglo American AAL.L will disclose annually whether their overall ship chartering activities are aligned with International Maritime Organization (IMO) 2050 goals.
IMO, an agency of the United Nations responsible for regulating shipping, aims to reduce overall greenhouse gas emissions by 50% from 2008 levels by 2050.
Based in San Ramon, California, Chevron Shipping Co transports crude oil, liquefied natural gas and refined energy products.
Chevron in October set a target to cut operational emissions to net zero by 2050, joining a list of energy companies taking steps to reduce their carbon footprint.
(Reporting by Arunima Kumar in Bengaluru; Editing by Vinay Dwivedi)
((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94 ;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Under the Sea Cargo Charter, companies, including agrigroups Cargill, ADM ADM.N and Bunge BG.N, oil majors Royal Dutch Shell RDSa.L and Total and mining group Anglo American AAL.L will disclose annually whether their overall ship chartering activities are aligned with International Maritime Organization (IMO) 2050 goals. IMO, an agency of the United Nations responsible for regulating shipping, aims to reduce overall greenhouse gas emissions by 50% from 2008 levels by 2050. Based in San Ramon, California, Chevron Shipping Co transports crude oil, liquefied natural gas and refined energy products.
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Under the Sea Cargo Charter, companies, including agrigroups Cargill, ADM ADM.N and Bunge BG.N, oil majors Royal Dutch Shell RDSa.L and Total and mining group Anglo American AAL.L will disclose annually whether their overall ship chartering activities are aligned with International Maritime Organization (IMO) 2050 goals. Dec 9 (Reuters) - Oil major Chevron Corp CVX.N said on Thursday, its shipping unit has joined the Sea Cargo Charter, an initiative launched last year to cut and track emissions from ships, as efforts intensify to reduce the maritime industry's carbon footprint. Chevron in October set a target to cut operational emissions to net zero by 2050, joining a list of energy companies taking steps to reduce their carbon footprint.
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Under the Sea Cargo Charter, companies, including agrigroups Cargill, ADM ADM.N and Bunge BG.N, oil majors Royal Dutch Shell RDSa.L and Total and mining group Anglo American AAL.L will disclose annually whether their overall ship chartering activities are aligned with International Maritime Organization (IMO) 2050 goals. Dec 9 (Reuters) - Oil major Chevron Corp CVX.N said on Thursday, its shipping unit has joined the Sea Cargo Charter, an initiative launched last year to cut and track emissions from ships, as efforts intensify to reduce the maritime industry's carbon footprint. (Reporting by Arunima Kumar in Bengaluru; Editing by Vinay Dwivedi) ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94 ;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Under the Sea Cargo Charter, companies, including agrigroups Cargill, ADM ADM.N and Bunge BG.N, oil majors Royal Dutch Shell RDSa.L and Total and mining group Anglo American AAL.L will disclose annually whether their overall ship chartering activities are aligned with International Maritime Organization (IMO) 2050 goals. Dec 9 (Reuters) - Oil major Chevron Corp CVX.N said on Thursday, its shipping unit has joined the Sea Cargo Charter, an initiative launched last year to cut and track emissions from ships, as efforts intensify to reduce the maritime industry's carbon footprint. IMO, an agency of the United Nations responsible for regulating shipping, aims to reduce overall greenhouse gas emissions by 50% from 2008 levels by 2050.
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3968.0
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2021-12-08 00:00:00 UTC
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American, Delta, United CEOs to testify before U.S. Senate panel
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https://www.nasdaq.com/articles/american-delta-united-ceos-to-testify-before-u.s.-senate-panel-0
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By David Shepardson
WASHINGTON, Dec 8 (Reuters) - The chief executives of American Airlines AAL.O, United Airlines UAL.N and Southwest Airlines LUV.N will testify on Dec. 15 at an oversight hearing before the Senate Commerce Committee on the impact of $54 billion in COVID-19 government payroll support for U.S. airlines.
The hearing will look at "the effect on the airline industry’s workforce, and the effect of airline operational performance on American consumers," according to a committee statement.
American CEO Doug Parker and Southwest Gary Kelly, who are both stepping down in early 2022, will testify, as will United CEO Scott Kirby.
Delta Air Lines DAL.N Chief Operating Officer John Laughter also will testify, as will Sara Nelson, president of the Association of Flight Attendants-CWA.
Lawmakers are expected to quiz executives about how carriers used pandemic-related federal aid, staffing issues and other matters.
U.S. airlines and carriers around the world were hard hit by reduced business and tourist travel during the COVID-19 pandemic. Starting in March 2020, Congress approved three rounds of taxpayer bailouts totaling $54 billion to cover much of U.S. airline payroll costs through Sept. 30 of this year as a result of the pandemic.
Nelson said in October that the airline industry "created a COVID-19 relief plan that no other industry got."
Lawmakers want to know if voluntary employee buyouts offered by airlines, despite receiving payroll assistance, caused operational problems at some carriers that have resulted in the cancellation of hundreds of flights in recent months.
The leaders of the U.S. House of Representatives Transportation Committee separately have asked industry trade group Airlines for America (A4A) to answer questions about the government payroll aid that the carriers received.
A4A said in a response letter Tuesday, the assistance program "was an overwhelming success... that kept employees on the job with a paycheck, healthcare and retirement contributions." Without it, the group added, "U.S. airlines would have been forced to implement massive layoffs, dramatically reduce service and cancel fleet orders."
(Reporting by David Shepardson; editing by Jonathan Oatis and Nick Zieminski)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson WASHINGTON, Dec 8 (Reuters) - The chief executives of American Airlines AAL.O, United Airlines UAL.N and Southwest Airlines LUV.N will testify on Dec. 15 at an oversight hearing before the Senate Commerce Committee on the impact of $54 billion in COVID-19 government payroll support for U.S. airlines. Starting in March 2020, Congress approved three rounds of taxpayer bailouts totaling $54 billion to cover much of U.S. airline payroll costs through Sept. 30 of this year as a result of the pandemic. Lawmakers want to know if voluntary employee buyouts offered by airlines, despite receiving payroll assistance, caused operational problems at some carriers that have resulted in the cancellation of hundreds of flights in recent months.
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By David Shepardson WASHINGTON, Dec 8 (Reuters) - The chief executives of American Airlines AAL.O, United Airlines UAL.N and Southwest Airlines LUV.N will testify on Dec. 15 at an oversight hearing before the Senate Commerce Committee on the impact of $54 billion in COVID-19 government payroll support for U.S. airlines. Lawmakers want to know if voluntary employee buyouts offered by airlines, despite receiving payroll assistance, caused operational problems at some carriers that have resulted in the cancellation of hundreds of flights in recent months. The leaders of the U.S. House of Representatives Transportation Committee separately have asked industry trade group Airlines for America (A4A) to answer questions about the government payroll aid that the carriers received.
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By David Shepardson WASHINGTON, Dec 8 (Reuters) - The chief executives of American Airlines AAL.O, United Airlines UAL.N and Southwest Airlines LUV.N will testify on Dec. 15 at an oversight hearing before the Senate Commerce Committee on the impact of $54 billion in COVID-19 government payroll support for U.S. airlines. The hearing will look at "the effect on the airline industry’s workforce, and the effect of airline operational performance on American consumers," according to a committee statement. Lawmakers want to know if voluntary employee buyouts offered by airlines, despite receiving payroll assistance, caused operational problems at some carriers that have resulted in the cancellation of hundreds of flights in recent months.
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By David Shepardson WASHINGTON, Dec 8 (Reuters) - The chief executives of American Airlines AAL.O, United Airlines UAL.N and Southwest Airlines LUV.N will testify on Dec. 15 at an oversight hearing before the Senate Commerce Committee on the impact of $54 billion in COVID-19 government payroll support for U.S. airlines. The hearing will look at "the effect on the airline industry’s workforce, and the effect of airline operational performance on American consumers," according to a committee statement. Delta Air Lines DAL.N Chief Operating Officer John Laughter also will testify, as will Sara Nelson, president of the Association of Flight Attendants-CWA.
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3969.0
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2021-12-08 00:00:00 UTC
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American, Delta, United CEOs to testify before U.S. Senate panel
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https://www.nasdaq.com/articles/american-delta-united-ceos-to-testify-before-u.s.-senate-panel
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WASHINGTON, Dec 8 (Reuters) - The chief executives of American Airlines AAL.O, United Airlines UAL.N and Southwest Airlines LUV.N will testify on Dec. 15 at an oversight hearing before the Senate Commerce Committee, a committee official said on Wednesday.
The hearing will examine the impact of $54 billion in COVID-19 government payroll support for U.S. airlines "including the effect on the airline industry’s workforce, and the effect of airline operational performance on American consumers." Delta Air Lines DAL.N Chief Operating Officer John Laughter also will testify, as will Sara Nelson, president of the Association of Flight Attendants-CWA.
(Reporting by David Shepardson; editing by Jonathan Oatis)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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WASHINGTON, Dec 8 (Reuters) - The chief executives of American Airlines AAL.O, United Airlines UAL.N and Southwest Airlines LUV.N will testify on Dec. 15 at an oversight hearing before the Senate Commerce Committee, a committee official said on Wednesday. Delta Air Lines DAL.N Chief Operating Officer John Laughter also will testify, as will Sara Nelson, president of the Association of Flight Attendants-CWA. (Reporting by David Shepardson; editing by Jonathan Oatis) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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WASHINGTON, Dec 8 (Reuters) - The chief executives of American Airlines AAL.O, United Airlines UAL.N and Southwest Airlines LUV.N will testify on Dec. 15 at an oversight hearing before the Senate Commerce Committee, a committee official said on Wednesday. The hearing will examine the impact of $54 billion in COVID-19 government payroll support for U.S. airlines "including the effect on the airline industry’s workforce, and the effect of airline operational performance on American consumers." Delta Air Lines DAL.N Chief Operating Officer John Laughter also will testify, as will Sara Nelson, president of the Association of Flight Attendants-CWA.
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WASHINGTON, Dec 8 (Reuters) - The chief executives of American Airlines AAL.O, United Airlines UAL.N and Southwest Airlines LUV.N will testify on Dec. 15 at an oversight hearing before the Senate Commerce Committee, a committee official said on Wednesday. The hearing will examine the impact of $54 billion in COVID-19 government payroll support for U.S. airlines "including the effect on the airline industry’s workforce, and the effect of airline operational performance on American consumers." (Reporting by David Shepardson; editing by Jonathan Oatis) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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WASHINGTON, Dec 8 (Reuters) - The chief executives of American Airlines AAL.O, United Airlines UAL.N and Southwest Airlines LUV.N will testify on Dec. 15 at an oversight hearing before the Senate Commerce Committee, a committee official said on Wednesday. The hearing will examine the impact of $54 billion in COVID-19 government payroll support for U.S. airlines "including the effect on the airline industry’s workforce, and the effect of airline operational performance on American consumers." Delta Air Lines DAL.N Chief Operating Officer John Laughter also will testify, as will Sara Nelson, president of the Association of Flight Attendants-CWA.
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3970.0
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2021-12-07 00:00:00 UTC
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US STOCKS-Wall Street closes higher with Nasdaq boosted by tech rally
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https://www.nasdaq.com/articles/us-stocks-wall-street-closes-higher-with-nasdaq-boosted-by-tech-rally
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By Devik Jain, Shreyashi Sanyal and Sinéad Carew
Dec 7 (Reuters) - Wall Street's main indexes finished Tuesday's session with strong gains as investors shook off some anxiety about the latest virus variant and investors piled into technology stocks that boosted Nasdaq.
Intel's INTC.O announcement of plans to take its self-driving car unit Mobileye public in the United States next year sent its shares soaring and cheered chip investors. The Philadelphia SE Semiconductor index .SOX at one point rose more than 5% after hitting a near one-month low on Tuesday.
Investors were also reassured by some positive news regarding the Omicron variant of COVID-19, which had helped send them fleeing from risk last week.
Before market open, British drugmaker GSK GSK.L said an antibody-based COVID-19 therapy it is developing with Vir Biotechnology VIR.O was effective against all mutations of the Omicron variant.
That news added to the relief rally along with infectious disease official Anthony Fauci's comment on Tuesday that preliminary evidence indicates while Omicron likely has a higher degree of transmissibility it appears to be less severe. Fauci had made similar comments on Sunday.
"A week ago we saw a big scare because of Omicron and over the following week it appeared to be very contagious but less severe than people were worried about," said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia.
Michael James, managing director of equity trading at Wedbush Securities in Los Angeles, said the Glaxosmithkline headline was already "instrumental to people's sentiment."
He also cited the Intel news and investor bets that the market would see its traditional December boost, known as the Santa Claus rally.
"There's certainly fears of missing out on the Santa Claus rally," said James. "It's a bigger picture risk-on mentality that's taking hold today."
According to preliminary data, the S&P 500 .SPX gained 95.17 points, or 2.07%, to end at 4,686.84 points, while the Nasdaq Composite .IXIC gained 455.72 points, or 2.99%, to 15,680.87. The Dow Jones Industrial Average .DJI rose 492.21 points, or 1.42%, to 35,719.24.
The CBOE volatility index .VIX, too, eased from a more than 10-month high last week.
Travel shares continued gaining, though at a slower pace than Monday with the S&P 1500 Airlines .SPCOMAIR and the S&P 1500 Hotels, Restaurant and Leisure .SPCOMHRL gaining.
American Airlines AAL.O rose after the carrier announced the retirement of Chief Executive Officer Doug Parker.
In the semiconductor industry other big gainers besides Intel were Nvidia NVDA.O, Applied Materials and NXP Semiconductor's NXPI.O U.S. listed shares.
Merck & Co MRK.N fell as Guggenheim downgraded the stock to "neutral" from "buy" after the drugmaker paused enrollment in two late-stage clinical trials testing its experimental drug for treatment and prevention of HIV-1.
(Reporting by Devik Jain, Shreyashi Sanyal in Bengaluru, Sinéad Carew in New York; Editing by Cynthia Osterman)
((sinead.carew@thomsonreuters.com; Reuters Messaging: sinead.carew.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines AAL.O rose after the carrier announced the retirement of Chief Executive Officer Doug Parker. That news added to the relief rally along with infectious disease official Anthony Fauci's comment on Tuesday that preliminary evidence indicates while Omicron likely has a higher degree of transmissibility it appears to be less severe. Michael James, managing director of equity trading at Wedbush Securities in Los Angeles, said the Glaxosmithkline headline was already "instrumental to people's sentiment."
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American Airlines AAL.O rose after the carrier announced the retirement of Chief Executive Officer Doug Parker. By Devik Jain, Shreyashi Sanyal and Sinéad Carew Dec 7 (Reuters) - Wall Street's main indexes finished Tuesday's session with strong gains as investors shook off some anxiety about the latest virus variant and investors piled into technology stocks that boosted Nasdaq. "There's certainly fears of missing out on the Santa Claus rally," said James.
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American Airlines AAL.O rose after the carrier announced the retirement of Chief Executive Officer Doug Parker. By Devik Jain, Shreyashi Sanyal and Sinéad Carew Dec 7 (Reuters) - Wall Street's main indexes finished Tuesday's session with strong gains as investors shook off some anxiety about the latest virus variant and investors piled into technology stocks that boosted Nasdaq. That news added to the relief rally along with infectious disease official Anthony Fauci's comment on Tuesday that preliminary evidence indicates while Omicron likely has a higher degree of transmissibility it appears to be less severe.
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American Airlines AAL.O rose after the carrier announced the retirement of Chief Executive Officer Doug Parker. The Philadelphia SE Semiconductor index .SOX at one point rose more than 5% after hitting a near one-month low on Tuesday. "A week ago we saw a big scare because of Omicron and over the following week it appeared to be very contagious but less severe than people were worried about," said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia.
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3971.0
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2021-12-07 00:00:00 UTC
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US STOCKS-Wall Street rallies with Nasdaq up 3% as tech takes off
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https://www.nasdaq.com/articles/us-stocks-wall-street-rallies-with-nasdaq-up-3-as-tech-takes-off
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By Devik Jain, Shreyashi Sanyal and Sinéad Carew
Dec 7 (Reuters) - Wall Street's main indexes rallied strongly on Tuesday, with the Nasdaq leading gains as investors piled back into technology stocks and semiconductors in particular after Intel INTC.O announced plans to take its self-driving car unit public.
The chip giant's decision to list Mobileye in the United States in mid-2022 sent its shares climbing 3.6%. This helped boost the Philadelphia SE Semiconductor index .SOX 4.7%, bouncing off a near one-month low hit in the previous session.
All of the 11 major S&P sectors were advancing, with the information technology sector .SPLRCT taking the lead and much of the top percentage gains coming from chip companies.
Investors were also encouraged by some positive news on the Omicron variant of COVID-19, which had helped send investors to the exits last week. Shares of Vir Biotechnology VIR.O jumped on Tuesday after British drugmaker GSK GSK.L said an antibody-based COVID-19 therapy it is developing with Vir is effective against all mutations of the Omicron variant.
"The headline from Glaxosmithkline was instrumental to people's sentiment today," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. He also cited the Intel news and hopes that the market would see its traditional December boost, known as the Santa Claus rally.
"There's certainly fears of missing out on the Santa Claus rally," said James. "It's a bigger picture risk-on mentality that's taking hold today."
By 2:31PM ET, the Dow Jones Industrial Average .DJI rose 512.58 points, or 1.46%, to 35,739.61, the S&P 500 .SPX gained 95.81 points, or 2.09%, to 4,687.48 and the Nasdaq Composite .IXIC added 469.75 points, or 3.09%, to 15,694.90.
The CBOE volatility index .VIX, too, eased from a 10-month high hit last week.
Travel shares continued gaining, though at a slower pace than Monday with the S&P 1500 Airlines .SPCOMAIR last up 0.6% after rising 5% on Monday and the S&P 1500 Hotels, Restaurant and Leisure .SPCOMHRL indexes rising 2%.
American Airlines AAL.O added 1% after the carrier announced the retirement of Chief Executive Officer Doug Parker.
Merck & Co MRK.N fell 1.9% as Guggenheim downgraded the stock to "neutral" from "buy" after the drugmaker paused enrollment in two late-stage clinical trials testing its experimental drug for treatment and prevention of HIV-1.
Advancing issues outnumbered declining ones on the NYSE by a 5.38-to-1 ratio; on Nasdaq, a 4.33-to-1 ratio favored advancers.
The S&P 500 posted 37 new 52-week highs and no new lows; the Nasdaq Composite recorded 47 new highs and 40 new lows.
(Reporting by Devik Jain, Shreyashi Sanyal in Bengaluru, Sinéad Carew in New York; Editing by Cynthia Osterman)
((sinead.carew@thomsonreuters.com; Reuters Messaging: sinead.carew.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines AAL.O added 1% after the carrier announced the retirement of Chief Executive Officer Doug Parker. By Devik Jain, Shreyashi Sanyal and Sinéad Carew Dec 7 (Reuters) - Wall Street's main indexes rallied strongly on Tuesday, with the Nasdaq leading gains as investors piled back into technology stocks and semiconductors in particular after Intel INTC.O announced plans to take its self-driving car unit public. "The headline from Glaxosmithkline was instrumental to people's sentiment today," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles.
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American Airlines AAL.O added 1% after the carrier announced the retirement of Chief Executive Officer Doug Parker. By Devik Jain, Shreyashi Sanyal and Sinéad Carew Dec 7 (Reuters) - Wall Street's main indexes rallied strongly on Tuesday, with the Nasdaq leading gains as investors piled back into technology stocks and semiconductors in particular after Intel INTC.O announced plans to take its self-driving car unit public. By 2:31PM ET, the Dow Jones Industrial Average .DJI rose 512.58 points, or 1.46%, to 35,739.61, the S&P 500 .SPX gained 95.81 points, or 2.09%, to 4,687.48 and the Nasdaq Composite .IXIC added 469.75 points, or 3.09%, to 15,694.90.
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American Airlines AAL.O added 1% after the carrier announced the retirement of Chief Executive Officer Doug Parker. By Devik Jain, Shreyashi Sanyal and Sinéad Carew Dec 7 (Reuters) - Wall Street's main indexes rallied strongly on Tuesday, with the Nasdaq leading gains as investors piled back into technology stocks and semiconductors in particular after Intel INTC.O announced plans to take its self-driving car unit public. Travel shares continued gaining, though at a slower pace than Monday with the S&P 1500 Airlines .SPCOMAIR last up 0.6% after rising 5% on Monday and the S&P 1500 Hotels, Restaurant and Leisure .SPCOMHRL indexes rising 2%.
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American Airlines AAL.O added 1% after the carrier announced the retirement of Chief Executive Officer Doug Parker. By Devik Jain, Shreyashi Sanyal and Sinéad Carew Dec 7 (Reuters) - Wall Street's main indexes rallied strongly on Tuesday, with the Nasdaq leading gains as investors piled back into technology stocks and semiconductors in particular after Intel INTC.O announced plans to take its self-driving car unit public. The chip giant's decision to list Mobileye in the United States in mid-2022 sent its shares climbing 3.6%.
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2021-12-07 00:00:00 UTC
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5 Top Travel Stocks To Watch On Omicron Optimism
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https://www.nasdaq.com/articles/5-top-travel-stocks-to-watch-on-omicron-optimism
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Are These The Best Travel Stocks To Buy Right Now?
With the impact of the pandemic fading, travel stocks appear to be attracting attention in the stock market. After all, the United States eased its travel restrictions for international travellers last month, with vaccinated travellers now being allowed into the country. Although the Omicron variant is raising concerns, the White House’s chief medical advisor Dr. Anthony Fauci has said that early reports on the variant were encouraging. And President Joe Biden said last week that there would be no new travel restrictions in light of the new variant’s discovery.
This is all encouraging for travel stocks. For instance, airline stocks like Boeing (NYSE: BA) may be seeing renewed interest from investors. Earlier this month, Chinese authorities issued an airworthiness directive on the Boeing 737 MAX. The directive means that the model is finally returning to Chinese airspace after about 2.5 years. Elsewhere, travel booking platform Expedia Group’s (NASDAQ: EXPE) stock has risen by more than 25% this year as travel restriction eases. As the world continues to open up, would you be keeping an eye on these top travel stocks in the stock market today?
Best Travel Stocks To Watch In December 2021
Booking Holdings Inc. (NASDAQ: BKNG)
Royal Caribbean Group (NYSE: RCL)
Marriott International (NASDAQ: MAR)
American Airlines Group (NASDAQ: AAL)
Airbnb, Inc. (NASDAQ: ABNB)
Booking Holdings
Booking Holdings owns travel booking platforms Booking.com, Priceline.com and Agoda.com. Despite the ongoing pandemic, the company is on a roll. An acquisition roll, that is. In November, Booking bought Getaroom for $1.2 billion in a bid to expand on partnerships. Next, the company entered into an agreement with funds managed by CVC Capital Partners to acquire Etraveli Group. The acquisition of the global flight booking provider will cost Booking about $1.83 billion. Could the acquisitions make BKNG stock more attractive to investors?
But there is more. Last week, Booking’s subsidiary Kayak became the lead investor in a $60 million backing of hospitality company Life House. Besides, its third fiscal quarter revenue did not look too shabby either. The company posted a $4.7 billion in total revenue for the latest quarter, an increase of 77% year-over-year. With its expansion within the industry, would you be adding BKNG stock to your portfolio?
Source: TD Ameritrade TOS
[Read More] Best Lithium Battery Stocks To Buy Now? 4 To Know
Royal Caribbean
It was not smooth sailing for the Royal Caribbean Group and other cruise companies during the pandemic. At the height of the pandemic, the entire cruising industry was shut down as many feared transmissions within confined spaces. Yet the second-largest cruise company in the world has managed to weather the storm. Last week, the company celebrated the one-year anniversary since the resumption of its operations after the pandemic-related pause.
Royal Caribbean in its latest quarter results said that over 500,000 guests have sailed with the company since the resumption. And it is expecting to host over 1 million guests by the end of 2021. Moreover, its CEO Richard Fain said that the company has received historically strong bookings for summer 2022. With news that the Omicron variant might not be as severe as first thought, could RCL stock be a viable travel stock for your watchlist?
Source: TD Ameritrade TOS
[Read More] Top Stocks To Buy Now? 4 Renewable Energy Stocks For Your Watchlist
Marriott International
Marriott International has been around for almost a century, but the now-multinational company is still a main player in the hotel industry. Like others in the travel industry, Marriott was hard hit during the pandemic. But CEO Anthony Capuano expects to see sequential quarter-over-quarter improvement in global revenue-per-available-room (RevPAR) this quarter versus 2019. In the third quarter of 2021, Marriott recorded a decrease of 26% in global RevPAR to the same period in 2019. This is a significant improvement from the second quarter RevPAR’s decline of 44% from the same quarter in 2019. Could this be a good sign for MAR stock?
Despite the ongoing pandemic, Marriott sees no signs of slowing down. This week, the company signed an agreement with Sela Sport Company to develop two new luxury hotels in Saudi Arabia. Last month, the Melbourne Marriott Hotel Docklands welcomed its first guests. The hotel became the first international five-star hotel in Melbourne’s harbor suburb. And the company is rapidly expanding in China, catering to the local market. For example, its millennial-focused Moxy brand is expected to make its debut in Suzhou in 2022. On this note, could MAR stock be a top travel stock to watch in the stock market?
Source: TD Ameritrade TOS
American Airlines
Like other airlines, American Airlines was not immune to the impact of the pandemic. Yet its third-quarter earnings show promise as leisure travel picks up again. It recorded $9 billion in revenue for the quarter, up 20% sequentially from the second quarter of 2021. Furthermore, the airline continues to expect robust demand during peak travel periods in the fourth quarter. For this period, the airline expects more than 6,000 peak day departures.
American Airlines, via its Northeast Alliance with JetBlue Airways (NASDAQ: JBLU), has managed to add new international services this year. The airline now has services from New York’s John F. Kennedy International Airport (JFK) to Tel Aviv in Israel, and from JFK to Athens in Greece. Its newest route was launched in November between JFK and Delhi in India. With leisure travel slowly becoming a must-do again, would you be watching AAL stock?
Source: TD Ameritrade TOS
Airbnb
Unlike Booking Holdings’ many accommodation platforms, Airbnb markets its platform as part of the sharing economy. Guests contact hosts personally, and sometimes, guests rent a room in a house that the host is staying in. Like many in the travel industry, Airbnb’s third-quarter results show that with the relaxation of restrictions, comes recovery. It reported $2.24 billion in revenue during the quarter, up by 67% year-over-year. The company also reported that 79.7 million nights and experiences were booked in the third quarter, an increase of 29% year-over-year.
Could the new Omicron variant derail Airbnb’s recovery? Some predict that Airbnb’s solid growth and its improving profitability will cushion the new variant’s impact. Airbnb’s inventory, which has entire units that can be rented, is also likely to be more suited to social distancing. Keeping this in mind, would you be buying ABNB stock?
Source: TD Ameritrade TOS
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Best Travel Stocks To Watch In December 2021 Booking Holdings Inc. (NASDAQ: BKNG) Royal Caribbean Group (NYSE: RCL) Marriott International (NASDAQ: MAR) American Airlines Group (NASDAQ: AAL) Airbnb, Inc. (NASDAQ: ABNB) Booking Holdings Booking Holdings owns travel booking platforms Booking.com, Priceline.com and Agoda.com. With leisure travel slowly becoming a must-do again, would you be watching AAL stock? Last week, Booking’s subsidiary Kayak became the lead investor in a $60 million backing of hospitality company Life House.
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Best Travel Stocks To Watch In December 2021 Booking Holdings Inc. (NASDAQ: BKNG) Royal Caribbean Group (NYSE: RCL) Marriott International (NASDAQ: MAR) American Airlines Group (NASDAQ: AAL) Airbnb, Inc. (NASDAQ: ABNB) Booking Holdings Booking Holdings owns travel booking platforms Booking.com, Priceline.com and Agoda.com. With leisure travel slowly becoming a must-do again, would you be watching AAL stock? Source: TD Ameritrade TOS American Airlines Like other airlines, American Airlines was not immune to the impact of the pandemic.
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Best Travel Stocks To Watch In December 2021 Booking Holdings Inc. (NASDAQ: BKNG) Royal Caribbean Group (NYSE: RCL) Marriott International (NASDAQ: MAR) American Airlines Group (NASDAQ: AAL) Airbnb, Inc. (NASDAQ: ABNB) Booking Holdings Booking Holdings owns travel booking platforms Booking.com, Priceline.com and Agoda.com. With leisure travel slowly becoming a must-do again, would you be watching AAL stock? Elsewhere, travel booking platform Expedia Group’s (NASDAQ: EXPE) stock has risen by more than 25% this year as travel restriction eases.
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Best Travel Stocks To Watch In December 2021 Booking Holdings Inc. (NASDAQ: BKNG) Royal Caribbean Group (NYSE: RCL) Marriott International (NASDAQ: MAR) American Airlines Group (NASDAQ: AAL) Airbnb, Inc. (NASDAQ: ABNB) Booking Holdings Booking Holdings owns travel booking platforms Booking.com, Priceline.com and Agoda.com. With leisure travel slowly becoming a must-do again, would you be watching AAL stock? Could the acquisitions make BKNG stock more attractive to investors?
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3973.0
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2021-12-07 00:00:00 UTC
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US STOCKS-Wall Street leaps as Nasdaq rallies 3% on boost from Big Tech, chipmakers
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https://www.nasdaq.com/articles/us-stocks-wall-street-leaps-as-nasdaq-rallies-3-on-boost-from-big-tech-chipmakers
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By Devik Jain and Shreyashi Sanyal
Dec 7 (Reuters) - Wall Street's main indexes rallied strongly on Tuesday, with the Nasdaq surging 3% as investors piled onto beaten-down quality technology stocks, while Intel jumped after plans to take its self-driving car unit public.
The chip giant's INTC.O decision to list Mobileye in the United States in mid-2022 was met overwhelmingly, with its shares 4.5% higher. The Philadelphia SE Semiconductor index .SOX surged 5.0%, bouncing off a near one-month low hit in the previous session.
All of the 11 major S&P sectors advanced, with the information technology sector .SPLRCT, which houses companies like Visa Inc V.N, Mastercard Inc M.N, Salesforce.com CRM.N Apple Inc AAPL.O and Microsoft Corp MSFT.O, gaining 3.4%.
The Nasdaq has climbed nearly 4% so far this week, more than recovering all its losses suffered last week when the Federal Reserve's hawkish comments about speedier taper spurred bets about an early interest rate hike next year to curb surging inflation.
"The markets understand that a zero interest rate environment is not going to last forever, that the Fed is going to use a measured approach to raising rates and not just some dramatic balance upwards," said Kim Forrest, chief investment officer at Bokeh Capital Partners in Pittsburgh.
"This is a reflection of what is driving the market. Things that were on sale are being bought, especially those higher multiple stocks."
Optimistic comments from a top U.S. official about the nature of the Omicron variant and positive data on a COVID-19 drug's efficacy against the latest variant also boosted investors' sentiment.
Shares of Vir Biotechnology VIR.O jumped 4.8% after British drugmaker GSK GSK.L said an antibody-based COVID-19 therapy it is developing with Vir is effective against all mutations of the Omicron variant.
"It (Omicron) doesn't seem as devastating as prior variants and I think all of this is making us move out of the financial doldrums of COVID," Forrest said.
The CBOE volatility index .VIX, too, eased from a 10-month high hit last week.
At 12:07 p.m. ET, the Dow Jones Industrial Average .DJI was up 537.15 points, or 1.52%, at 35,764.18, the S&P 500 .SPX was up 96.81 points, or 2.11%, at 4,688.48, and the Nasdaq Composite .IXIC was up 459.76 points, or 3.02%, at 15,684.91.
Shares of mega-cap tech stocks Meta Platforms FB.O, Google-owner Alphabet GOOGL.O, Tesla Inc TSLA.O and Amazon AMZN.O added between 2.0% and 3.1%.
Travel shares continued the momentum, with the S&P 1500 Airlines .SPCOMAIR and the S&P 1500 Hotels, Restaurant and Leisure .SPCOMHRL indexes rising 0.6% and 2.0% respectively.
American Airlines AAL.O added 1.1% after the carrier announced the retirement of Chief Executive Officer Doug Parker.
Merck & Co MRK.N fell 1.9% as Guggenheim downgraded the stock to "neutral" from "buy" after the drugmaker paused enrollment in two late-stage clinical trials testing its experimental drug for treatment and prevention of HIV-1.
Advancing issues outnumbered decliners by a 7.13-to-1 ratio on the NYSE and by a 4.70-to-1 ratio on the Nasdaq.
The S&P index recorded 34 new 52-week highs and no new low, while the Nasdaq recorded 40 new highs and 36 new lows.
(Reporting by Sruthi Shankar, Devik Jain and Shreyashi Sanyal in Bengaluru; Editing by Saumyadeb Chakrabarty and Maju Samuel)
((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2787;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines AAL.O added 1.1% after the carrier announced the retirement of Chief Executive Officer Doug Parker. By Devik Jain and Shreyashi Sanyal Dec 7 (Reuters) - Wall Street's main indexes rallied strongly on Tuesday, with the Nasdaq surging 3% as investors piled onto beaten-down quality technology stocks, while Intel jumped after plans to take its self-driving car unit public. The chip giant's INTC.O decision to list Mobileye in the United States in mid-2022 was met overwhelmingly, with its shares 4.5% higher.
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American Airlines AAL.O added 1.1% after the carrier announced the retirement of Chief Executive Officer Doug Parker. By Devik Jain and Shreyashi Sanyal Dec 7 (Reuters) - Wall Street's main indexes rallied strongly on Tuesday, with the Nasdaq surging 3% as investors piled onto beaten-down quality technology stocks, while Intel jumped after plans to take its self-driving car unit public. The S&P index recorded 34 new 52-week highs and no new low, while the Nasdaq recorded 40 new highs and 36 new lows.
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American Airlines AAL.O added 1.1% after the carrier announced the retirement of Chief Executive Officer Doug Parker. By Devik Jain and Shreyashi Sanyal Dec 7 (Reuters) - Wall Street's main indexes rallied strongly on Tuesday, with the Nasdaq surging 3% as investors piled onto beaten-down quality technology stocks, while Intel jumped after plans to take its self-driving car unit public. The Nasdaq has climbed nearly 4% so far this week, more than recovering all its losses suffered last week when the Federal Reserve's hawkish comments about speedier taper spurred bets about an early interest rate hike next year to curb surging inflation.
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American Airlines AAL.O added 1.1% after the carrier announced the retirement of Chief Executive Officer Doug Parker. By Devik Jain and Shreyashi Sanyal Dec 7 (Reuters) - Wall Street's main indexes rallied strongly on Tuesday, with the Nasdaq surging 3% as investors piled onto beaten-down quality technology stocks, while Intel jumped after plans to take its self-driving car unit public. Optimistic comments from a top U.S. official about the nature of the Omicron variant and positive data on a COVID-19 drug's efficacy against the latest variant also boosted investors' sentiment.
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3974.0
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2021-12-07 00:00:00 UTC
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After Hours Most Active for Dec 7, 2021 : CSCO, FITB, PCG, AAL, IS, VST, ET, BAC, PLYA, TFC, FRSH, SFIX
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https://www.nasdaq.com/articles/after-hours-most-active-for-dec-7-2021-%3A-csco-fitb-pcg-aal-is-vst-et-bac-plya-tfc-frsh
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The NASDAQ 100 After Hours Indicator is up 39.61 to 16,365.27. The total After hours volume is currently 21,899,104 shares traded.
The following are the most active stocks for the after hours session:
Cisco Systems, Inc. (CSCO) is +0.11 at $58.17, with 1,142,775 shares traded. As reported by Zacks, the current mean recommendation for CSCO is in the "buy range".
Fifth Third Bancorp (FITB) is unchanged at $44.08, with 1,054,798 shares traded. As reported by Zacks, the current mean recommendation for FITB is in the "buy range".
Pacific Gas & Electric Co. (PCG) is +0.005 at $12.44, with 1,019,800 shares traded. PCG's current last sale is 88.86% of the target price of $14.
American Airlines Group, Inc. (AAL) is -0.02 at $17.89, with 846,749 shares traded. AAL's current last sale is 91.74% of the target price of $19.5.
ironSource Ltd. (IS) is +0.01 at $8.66, with 825,767 shares traded. As reported by Zacks, the current mean recommendation for IS is in the "buy range".
Vistra Corp. (VST) is unchanged at $20.93, with 802,108 shares traded. As reported by Zacks, the current mean recommendation for VST is in the "buy range".
Energy Transfer L.P. (ET) is unchanged at $8.40, with 759,599 shares traded. As reported by Zacks, the current mean recommendation for ET is in the "strong buy range".
Bank of America Corporation (BAC) is +0.005 at $44.71, with 658,955 shares traded. As reported by Zacks, the current mean recommendation for BAC is in the "buy range".
Playa Hotels & Resorts N.V. (PLYA) is +0.01 at $7.41, with 645,678 shares traded. As reported by Zacks, the current mean recommendation for PLYA is in the "buy range".
Truist Financial Corporation (TFC) is -0.01 at $60.58, with 539,236 shares traded. TFC's current last sale is 89.42% of the target price of $67.75.
Freshworks Inc. (FRSH) is -0.05 at $28.49, with 509,359 shares traded. As reported by Zacks, the current mean recommendation for FRSH is in the "buy range".
Stitch Fix, Inc. (SFIX) is +0.6 at $25.50, with 501,646 shares traded. SFIX's current last sale is 50.5% of the target price of $50.5.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group, Inc. (AAL) is -0.02 at $17.89, with 846,749 shares traded. AAL's current last sale is 91.74% of the target price of $19.5. As reported by Zacks, the current mean recommendation for CSCO is in the "buy range".
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American Airlines Group, Inc. (AAL) is -0.02 at $17.89, with 846,749 shares traded. AAL's current last sale is 91.74% of the target price of $19.5. As reported by Zacks, the current mean recommendation for CSCO is in the "buy range".
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American Airlines Group, Inc. (AAL) is -0.02 at $17.89, with 846,749 shares traded. AAL's current last sale is 91.74% of the target price of $19.5. The total After hours volume is currently 21,899,104 shares traded.
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American Airlines Group, Inc. (AAL) is -0.02 at $17.89, with 846,749 shares traded. AAL's current last sale is 91.74% of the target price of $19.5. The NASDAQ 100 After Hours Indicator is up 39.61 to 16,365.27.
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3975.0
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2021-12-07 00:00:00 UTC
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Evaluating a retiring pandemic CEO
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https://www.nasdaq.com/articles/evaluating-a-retiring-pandemic-ceo
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Reuters
Reuters
(The author is a Reuters Breakingviews columnist. The opinions expressed are their own.)
NEW YORK (Reuters Breakingviews) - Doug Parker has had enough. The American Airlines chief executive is stepping down https://news.aa.com/news/news-details/2021/American-Airlines-Announces-Leadership-Succession-Plan-CORP-EXEC-12/default.aspx and handing the controls to current President Robert Isom. After two decades guiding airlines through one crisis after another, he can hardly be blamed for bailing out. But he’s leaving American’s shareholders in the lurch.
Parker took over in 2013 as American merged with US Airways, where he was serving as CEO. He had already had a long aviation career, including piloting American West Airlines through the trauma of the Sept. 11, 2001 attacks. Since he started at American, shares have significantly underperformed peers including Delta Air Lines and Southwest Airlines.
The past 22 months have arguably been even more grueling. American’s shares are down a third since last January, in line with rival Delta but lagging budget-focused Southwest. More worrying is the $24 billion of net debt now sitting in the hold. At some 7 times next year’s estimated EBITDA, according to Refinitiv, that’s going to take some paying off https://www.breakingviews.com/considered-view/still-time-to-make-u-s-airlines-pay-their-way/?bved=NDI%3D&bvshr=MTgxNjM2. Parker can presumably look forward to a comfortable retirement package. His shareholders have no such luxury. (By Lauren Silva Laughlin)
Follow @Breakingviews https://twitter.com/Breakingviews on Twitter
Capital Calls - More concise insights on global finance:
Microsoft takes antitrust shot from EU
AT&T’s regulatory déjà vu
Samsung shakeup overlooks one important component
Mattress IPO puts Chinese mystery to bed
Zoom’s pandemic hedge
(Editing by Ed Cropley and Amanda Gomez)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The American Airlines chief executive is stepping down https://news.aa.com/news/news-details/2021/American-Airlines-Announces-Leadership-Succession-Plan-CORP-EXEC-12/default.aspx and handing the controls to current President Robert Isom. Since he started at American, shares have significantly underperformed peers including Delta Air Lines and Southwest Airlines. (By Lauren Silva Laughlin) Follow @Breakingviews https://twitter.com/Breakingviews on Twitter Capital Calls - More concise insights on global finance: Microsoft takes antitrust shot from EU AT&T’s regulatory déjà vu Samsung shakeup overlooks one important component Mattress IPO puts Chinese mystery to bed Zoom’s pandemic hedge (Editing by Ed Cropley and Amanda Gomez) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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NEW YORK (Reuters Breakingviews) - Doug Parker has had enough. Since he started at American, shares have significantly underperformed peers including Delta Air Lines and Southwest Airlines. (By Lauren Silva Laughlin) Follow @Breakingviews https://twitter.com/Breakingviews on Twitter Capital Calls - More concise insights on global finance: Microsoft takes antitrust shot from EU AT&T’s regulatory déjà vu Samsung shakeup overlooks one important component Mattress IPO puts Chinese mystery to bed Zoom’s pandemic hedge (Editing by Ed Cropley and Amanda Gomez) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The American Airlines chief executive is stepping down https://news.aa.com/news/news-details/2021/American-Airlines-Announces-Leadership-Succession-Plan-CORP-EXEC-12/default.aspx and handing the controls to current President Robert Isom. Since he started at American, shares have significantly underperformed peers including Delta Air Lines and Southwest Airlines. (By Lauren Silva Laughlin) Follow @Breakingviews https://twitter.com/Breakingviews on Twitter Capital Calls - More concise insights on global finance: Microsoft takes antitrust shot from EU AT&T’s regulatory déjà vu Samsung shakeup overlooks one important component Mattress IPO puts Chinese mystery to bed Zoom’s pandemic hedge (Editing by Ed Cropley and Amanda Gomez) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The opinions expressed are their own.) NEW YORK (Reuters Breakingviews) - Doug Parker has had enough. Since he started at American, shares have significantly underperformed peers including Delta Air Lines and Southwest Airlines.
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3976.0
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2021-12-07 00:00:00 UTC
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American Airlines CEO Doug Parker To Retire In March; President Robert Isom Named Successor
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AAL
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https://www.nasdaq.com/articles/american-airlines-ceo-doug-parker-to-retire-in-march-president-robert-isom-named-successor
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nan
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nan
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(RTTNews) - American Airlines Group Inc. (AAL), said on Tuesday that Doug Parker will retire as Chief Executive Officer or CEO on March 31, 2022. Robert Isom, who is the President of the Group, will succeed Parker as the new chief executive.
Isom is also scheduled to join the airline's Board of directors on March 31, next year, whereas Parker will continue to serve as Chairman of the Board, the company said in a statement.
Isom, who was named as president in 2016, brings over three decades of global industry and leadership experience across finance, operations, planning, marketing, sales, alliances, pricing, and revenue management.
Sharing his vision, Isom said, "..Today, our more than 130,000 dedicated team members fly more people than any other U.S. airline on the youngest fleet of all the network carriers, and we are positioned to continue to lead the industry as travel rebounds."
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - American Airlines Group Inc. (AAL), said on Tuesday that Doug Parker will retire as Chief Executive Officer or CEO on March 31, 2022. Isom, who was named as president in 2016, brings over three decades of global industry and leadership experience across finance, operations, planning, marketing, sales, alliances, pricing, and revenue management. Sharing his vision, Isom said, "..Today, our more than 130,000 dedicated team members fly more people than any other U.S. airline on the youngest fleet of all the network carriers, and we are positioned to continue to lead the industry as travel rebounds."
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(RTTNews) - American Airlines Group Inc. (AAL), said on Tuesday that Doug Parker will retire as Chief Executive Officer or CEO on March 31, 2022. Robert Isom, who is the President of the Group, will succeed Parker as the new chief executive. Isom is also scheduled to join the airline's Board of directors on March 31, next year, whereas Parker will continue to serve as Chairman of the Board, the company said in a statement.
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(RTTNews) - American Airlines Group Inc. (AAL), said on Tuesday that Doug Parker will retire as Chief Executive Officer or CEO on March 31, 2022. Isom is also scheduled to join the airline's Board of directors on March 31, next year, whereas Parker will continue to serve as Chairman of the Board, the company said in a statement. Sharing his vision, Isom said, "..Today, our more than 130,000 dedicated team members fly more people than any other U.S. airline on the youngest fleet of all the network carriers, and we are positioned to continue to lead the industry as travel rebounds."
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(RTTNews) - American Airlines Group Inc. (AAL), said on Tuesday that Doug Parker will retire as Chief Executive Officer or CEO on March 31, 2022. Robert Isom, who is the President of the Group, will succeed Parker as the new chief executive. Isom is also scheduled to join the airline's Board of directors on March 31, next year, whereas Parker will continue to serve as Chairman of the Board, the company said in a statement.
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3977.0
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2021-12-07 00:00:00 UTC
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US STOCKS-Wall St set to open 1% higher as tech stocks roar back
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AAL
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https://www.nasdaq.com/articles/us-stocks-wall-st-set-to-open-1-higher-as-tech-stocks-roar-back-0
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nan
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nan
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By Devik Jain
Dec 7 (Reuters) - U.S. stocks looked set to open 1% higher on Tuesday as technology firms bounced back on easing concerns around the Omicron variant, while Intel jumped after plans to take its self-driving car unit public.
Investors cheered the chip giant'sINTC.Odecision to list Mobileye in the United States in mid-2022, sending its shares 7.7% higher in premarket trading. Other chipmakers including Advanced Micro Devices AMD.O, Micron Technology MU.O and Nvidia NVDA.Oalso rose.
U.S. stock indexes closed higher on Monday as optimistic comments from a top U.S. official about Omicron encouraged investors. The CBOE volatility index, too, eased from a 10-month high it hit last week, when fears around the new virus strain and the Federal Reserve's hawkish comments about a speedier taper rattled investors.
"With yesterday's rally, investors are starting to get their minds around the fact that the Fed is likely tapering for the right reasons," said Art Hogan, chief market strategist at National Securities in New York.
"And the second thing is that there's been a diminishing economic impact of every new variant of the coronavirus since the pandemic began."
The bounce underlined a rebound in high-flying growth stocks, which were battered in recent days as investors rotated into sectors like energy, banks that stand to perform better in a tightened U.S. monetary policy environment.
Big Tech stocks Google-owner Alphabet GOOGL.O, Microsoft MSFT.O, Amazon AMZN.O and Apple AAPL.O gained nearly 2%.
Tesla Inc TSLA.O added 3.4% after dropping into bear market territory, or 20% off its record high close, on an intraday basis on Monday.
"We think that in 2022, markets will continue to see periods of optimism and pessimism on both inflation and growth, and flip-flop between those views until there is more clarity," said Willem Sels, global chief investment officer, private banking and wealth management at HSBC.
Goldman Sachs GS.N Chief Executive David Solomon anticipates inflation will be higher for a period and that equity returns are likely to slow in the next few years.
At 8:11 a.m. ET, Dow e-minis 1YMcv1 were up 347 points, or 0.99%, S&P 500 e-minis EScv1 were up 59.75 points, or 1.3%, and Nasdaq 100 e-minis NQcv1 were up 285.5 points, or 1.8%.
Shares of Vir Biotechnology VIR.O jumped 8.1% after British drugmaker GSK GSK.L said an antibody-based COVID-19 therapy it is developing with Vir is effective against all mutations of the Omicron variant.
Travel shares continued the momentum, with Norwegian Cruise Line NCLH.N and American Airlines AAL.O leading the gains among the major airlines and cruise operators. American Airlines also announced the retirement of Chief Executive Officer Doug Parker.
Oil stocks including Exxon Mobil XOM.N and Chevron Corp CVX.N rose, tracking gains in crude prices. O/R
Merck & Co MRK.N fell 1.6% as Guggenheim downgraded the stock to "neutral" from "buy" after the drugmaker paused enrollment in two late-stage clinical trials testing its experimental drug for HIV prevention before exposure to the virus.
(Reporting by Sruthi Shankar, Devik Jain and Shreyashi Sanyal in Bengaluru; Editing by Maju Samuel and Saumyadeb Chakrabarty)
((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2787;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Travel shares continued the momentum, with Norwegian Cruise Line NCLH.N and American Airlines AAL.O leading the gains among the major airlines and cruise operators. By Devik Jain Dec 7 (Reuters) - U.S. stocks looked set to open 1% higher on Tuesday as technology firms bounced back on easing concerns around the Omicron variant, while Intel jumped after plans to take its self-driving car unit public. The bounce underlined a rebound in high-flying growth stocks, which were battered in recent days as investors rotated into sectors like energy, banks that stand to perform better in a tightened U.S. monetary policy environment.
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Travel shares continued the momentum, with Norwegian Cruise Line NCLH.N and American Airlines AAL.O leading the gains among the major airlines and cruise operators. By Devik Jain Dec 7 (Reuters) - U.S. stocks looked set to open 1% higher on Tuesday as technology firms bounced back on easing concerns around the Omicron variant, while Intel jumped after plans to take its self-driving car unit public. U.S. stock indexes closed higher on Monday as optimistic comments from a top U.S. official about Omicron encouraged investors.
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Travel shares continued the momentum, with Norwegian Cruise Line NCLH.N and American Airlines AAL.O leading the gains among the major airlines and cruise operators. By Devik Jain Dec 7 (Reuters) - U.S. stocks looked set to open 1% higher on Tuesday as technology firms bounced back on easing concerns around the Omicron variant, while Intel jumped after plans to take its self-driving car unit public. U.S. stock indexes closed higher on Monday as optimistic comments from a top U.S. official about Omicron encouraged investors.
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Travel shares continued the momentum, with Norwegian Cruise Line NCLH.N and American Airlines AAL.O leading the gains among the major airlines and cruise operators. U.S. stock indexes closed higher on Monday as optimistic comments from a top U.S. official about Omicron encouraged investors. Goldman Sachs GS.N Chief Executive David Solomon anticipates inflation will be higher for a period and that equity returns are likely to slow in the next few years.
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3978.0
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2021-12-07 00:00:00 UTC
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Diamond producer De Beers to explore mining in Angola
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AAL
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https://www.nasdaq.com/articles/diamond-producer-de-beers-to-explore-mining-in-angola
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nan
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nan
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Dec 7 (Reuters) - De Beers Group, Anglo American's AAL.L diamond business, said on Tuesday it had applied to conduct exploration activities in north-eastern Angola.
De Beers Group and the government of Angola will start discussions to agree upon a mineral investment contract, the company said.
(Reporting by Shanima A in Bengaluru; Editing by Vinay Dwivedi)
((shanima.a@thomsonreuters.com; (Direct: +91 77 6034 7399 );))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dec 7 (Reuters) - De Beers Group, Anglo American's AAL.L diamond business, said on Tuesday it had applied to conduct exploration activities in north-eastern Angola. De Beers Group and the government of Angola will start discussions to agree upon a mineral investment contract, the company said. (Reporting by Shanima A in Bengaluru; Editing by Vinay Dwivedi) ((shanima.a@thomsonreuters.com; (Direct: +91 77 6034 7399 );)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dec 7 (Reuters) - De Beers Group, Anglo American's AAL.L diamond business, said on Tuesday it had applied to conduct exploration activities in north-eastern Angola. De Beers Group and the government of Angola will start discussions to agree upon a mineral investment contract, the company said. (Reporting by Shanima A in Bengaluru; Editing by Vinay Dwivedi) ((shanima.a@thomsonreuters.com; (Direct: +91 77 6034 7399 );)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dec 7 (Reuters) - De Beers Group, Anglo American's AAL.L diamond business, said on Tuesday it had applied to conduct exploration activities in north-eastern Angola. De Beers Group and the government of Angola will start discussions to agree upon a mineral investment contract, the company said. (Reporting by Shanima A in Bengaluru; Editing by Vinay Dwivedi) ((shanima.a@thomsonreuters.com; (Direct: +91 77 6034 7399 );)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dec 7 (Reuters) - De Beers Group, Anglo American's AAL.L diamond business, said on Tuesday it had applied to conduct exploration activities in north-eastern Angola. De Beers Group and the government of Angola will start discussions to agree upon a mineral investment contract, the company said. (Reporting by Shanima A in Bengaluru; Editing by Vinay Dwivedi) ((shanima.a@thomsonreuters.com; (Direct: +91 77 6034 7399 );)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3979.0
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2021-12-07 00:00:00 UTC
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US STOCKS-Wall St set to open 1% higher as tech stocks roar back
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AAL
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https://www.nasdaq.com/articles/us-stocks-wall-st-set-to-open-1-higher-as-tech-stocks-roar-back
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nan
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nan
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By Sruthi Shankar and Devik Jain
Dec 7 (Reuters) - U.S. stocks looked set to open 1% higher on Tuesday as technology firms bounced back on easing concerns around the Omicron variant, while Intel jumped after plans to take its self-driving car unit public.
Shares of the chip giant INTC.O surged 9.3% in premarket trading after revealing the plan to list Mobileye in the United States in mid-2022.
Other chipmakers Advanced Micro Devices AMD.O, Micron Technology MU.O and Nvidia NVDA.Orose 3.0%. Big Tech stocks Google-owner Alphabet GOOGL.O,Microsoft MSFT.O, Amazon AMZN.Oand Apple AAPL.Ogained nearly 2%.
Tesla Inc TSLA.O rose 3.7% in premarket trading after dropping into bear market territory, or 20% off its record high close, on an intraday basis on Monday.
Some high-flying growth stocks were battered in recent days as investors rotated into sectors like energy, banks that stand to perform better in a tightened U.S. monetary policy environment. News of the Omicron variant also injected volatility into the market last week.
U.S. stock indexes, however, closed higher on Monday as investors were encouraged by optimistic comments from a top U.S. official on the latest COVID-19 variant. The CBOE volatility index too eased from a 10-month high it hit last week.
"We think that in 2022, markets will continue to see periods of optimism and pessimism on both inflation and growth, and flip-flop between those views until there is more clarity," said Willem Sels, global chief investment officer, private banking and wealth management at HSBC.
At 7:02 a.m. ET, Dow e-minis 1YMcv1were up 355 points, or 1.01%, S&P 500 e-minis EScv1were up 60.25 points, or 1.31%, and Nasdaq 100 e-minis NQcv1were up 284.75 points, or 1.8%.
Shares of Vir Biotechnology jumped 11.3% after British drugmaker GSK GSK.L said an antibody-based COVID-19 therapy it is developing with Vir is effective against all mutations of the new Omicron variant.
Travel shares continued the momentum, with Carnival Corp CCL.N and United Airlines UAL.O up 3.3% and 2.6%, respectively, leading the gains among the major airlines and cruise operators.
American Airlines Group Inc AAL.O rose 2.8% after the carrier said Chief Executive Officer Doug Parker would retire on March 31.
Oil stocks including Exxon Mobil XOM.N and Chevron Corp CVX.N gained, tracking gains in crude prices.
(Reporting by Sruthi Shankar and Devik Jain in Bengaluru; Editing by Maju Samuel and Saumyadeb Chakrabarty)
((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2787;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group Inc AAL.O rose 2.8% after the carrier said Chief Executive Officer Doug Parker would retire on March 31. By Sruthi Shankar and Devik Jain Dec 7 (Reuters) - U.S. stocks looked set to open 1% higher on Tuesday as technology firms bounced back on easing concerns around the Omicron variant, while Intel jumped after plans to take its self-driving car unit public. Some high-flying growth stocks were battered in recent days as investors rotated into sectors like energy, banks that stand to perform better in a tightened U.S. monetary policy environment.
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American Airlines Group Inc AAL.O rose 2.8% after the carrier said Chief Executive Officer Doug Parker would retire on March 31. U.S. stock indexes, however, closed higher on Monday as investors were encouraged by optimistic comments from a top U.S. official on the latest COVID-19 variant. ET, Dow e-minis 1YMcv1were up 355 points, or 1.01%, S&P 500 e-minis EScv1were up 60.25 points, or 1.31%, and Nasdaq 100 e-minis NQcv1were up 284.75 points, or 1.8%.
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American Airlines Group Inc AAL.O rose 2.8% after the carrier said Chief Executive Officer Doug Parker would retire on March 31. By Sruthi Shankar and Devik Jain Dec 7 (Reuters) - U.S. stocks looked set to open 1% higher on Tuesday as technology firms bounced back on easing concerns around the Omicron variant, while Intel jumped after plans to take its self-driving car unit public. "We think that in 2022, markets will continue to see periods of optimism and pessimism on both inflation and growth, and flip-flop between those views until there is more clarity," said Willem Sels, global chief investment officer, private banking and wealth management at HSBC.
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American Airlines Group Inc AAL.O rose 2.8% after the carrier said Chief Executive Officer Doug Parker would retire on March 31. By Sruthi Shankar and Devik Jain Dec 7 (Reuters) - U.S. stocks looked set to open 1% higher on Tuesday as technology firms bounced back on easing concerns around the Omicron variant, while Intel jumped after plans to take its self-driving car unit public. Tesla Inc TSLA.O rose 3.7% in premarket trading after dropping into bear market territory, or 20% off its record high close, on an intraday basis on Monday.
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3980.0
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2021-12-07 00:00:00 UTC
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American Airlines CEO Doug Parker to retire in March
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AAL
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https://www.nasdaq.com/articles/american-airlines-ceo-doug-parker-to-retire-in-march
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nan
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nan
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Adds details on executive change, share movement
Dec 7 (Reuters) - American Airlines Group Inc AAL.O said on Tuesday Chief Executive Officer Doug Parker will retire on March 31 and president Robert Isom will replace him.
Parker will continue as chairman and Isom will join the carrier's board after he takes over as CEO, the airline said in a statement.
Parker was named chairman and CEO of the Texas-based airline in 2013.
Shares of the airline rose 2.6% before the bell.
(Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Amy Caren Daniel and Arun Koyyur)
((Abhijith.G@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds details on executive change, share movement Dec 7 (Reuters) - American Airlines Group Inc AAL.O said on Tuesday Chief Executive Officer Doug Parker will retire on March 31 and president Robert Isom will replace him. Parker will continue as chairman and Isom will join the carrier's board after he takes over as CEO, the airline said in a statement. (Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Amy Caren Daniel and Arun Koyyur) ((Abhijith.G@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds details on executive change, share movement Dec 7 (Reuters) - American Airlines Group Inc AAL.O said on Tuesday Chief Executive Officer Doug Parker will retire on March 31 and president Robert Isom will replace him. Parker will continue as chairman and Isom will join the carrier's board after he takes over as CEO, the airline said in a statement. Parker was named chairman and CEO of the Texas-based airline in 2013.
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Adds details on executive change, share movement Dec 7 (Reuters) - American Airlines Group Inc AAL.O said on Tuesday Chief Executive Officer Doug Parker will retire on March 31 and president Robert Isom will replace him. Parker will continue as chairman and Isom will join the carrier's board after he takes over as CEO, the airline said in a statement. (Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Amy Caren Daniel and Arun Koyyur) ((Abhijith.G@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds details on executive change, share movement Dec 7 (Reuters) - American Airlines Group Inc AAL.O said on Tuesday Chief Executive Officer Doug Parker will retire on March 31 and president Robert Isom will replace him. Parker will continue as chairman and Isom will join the carrier's board after he takes over as CEO, the airline said in a statement. Parker was named chairman and CEO of the Texas-based airline in 2013.
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3981.0
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2021-12-07 00:00:00 UTC
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American Airlines says CEO Parker to retire
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AAL
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https://www.nasdaq.com/articles/american-airlines-says-ceo-parker-to-retire
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nan
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nan
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Dec 7 (Reuters) - American Airlines Group Inc AAL.O said on Tuesday Doug Parker would retire as the U.S. Carrier's chief executive officer on March 31.
(Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Amy Caren Daniel)
((Abhijith.G@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dec 7 (Reuters) - American Airlines Group Inc AAL.O said on Tuesday Doug Parker would retire as the U.S. Carrier's chief executive officer on March 31. (Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Amy Caren Daniel) ((Abhijith.G@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dec 7 (Reuters) - American Airlines Group Inc AAL.O said on Tuesday Doug Parker would retire as the U.S. Carrier's chief executive officer on March 31. (Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Amy Caren Daniel) ((Abhijith.G@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dec 7 (Reuters) - American Airlines Group Inc AAL.O said on Tuesday Doug Parker would retire as the U.S. Carrier's chief executive officer on March 31. (Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Amy Caren Daniel) ((Abhijith.G@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dec 7 (Reuters) - American Airlines Group Inc AAL.O said on Tuesday Doug Parker would retire as the U.S. Carrier's chief executive officer on March 31. (Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Amy Caren Daniel) ((Abhijith.G@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3982.0
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2021-12-06 00:00:00 UTC
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Will Affirm Be a Trillion-Dollar Stock by 2030?
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AAL
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https://www.nasdaq.com/articles/will-affirm-be-a-trillion-dollar-stock-by-2030
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nan
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nan
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Affirm (NASDAQ: AFRM), a provider of "buy now, pay later" (BNPL) services, has been a red-hot fintech stock this year. It went public in January at $49 per share, opened at $90.90 on the first day, and currently trades at nearly $120, which gives it a market cap of nearly $30 billion. However, Affirm is still a lot smaller than Square (NYSE: SQ) (soon to be named Block, effective Dec. 10), which is valued at nearly $90 billion, or PayPal (NASDAQ: PYPL), which has a market cap of $210 billion. Both of those digital payment companies have expanded into the BNPL market over the past year.
Could Affirm evolve into a much larger company over the next decade? Let's examine its business, its potential growth rates, and long-term valuations to see if it has a shot at becoming a trillion-dollar company by 2030.
Image source: Getty Images.
Can Affirm disrupt traditional credit card companies?
Affirm's primary goal is to disrupt traditional credit card companies. Its BNPL service enables customers to split larger purchases into smaller payments without hidden or late fees, then calculates the interest payments with a fixed dollar amount instead of compounding percentages.
The company performs a soft credit check to facilitate its "microloans" and promotes its platform as a cheaper and more transparent alternative to credit cards for businesses and consumers. It served 8.7 million active consumers and 102,000 active merchants in its latest quarter. The company has a growing list of partners that includes Amazon, Walmart, Target, Shopify, and American Airlines.
Amazon's partnership with Affirm and the e-commerce giant's recent decision to ban Visa payments in the U.K. highlight that disruptive potential. PayPal also rolled out its own BNPL service over the past year and accelerated that effort by acquiring the Japanese BNPL platform Paidy. Square agreed to buy the Australian BNPL platform Afterpay (ASX: APT) earlier this year.
Affirm and those other BNPL platforms probably won't ever render credit cards obsolete. But, they could carve out a high-growth niche and force credit card providers and their issuing banks to reduce their fees and interest rates.
The BNPL market's growth potential
The global BNPL market was valued at $4.1 billion in 2020, according to Grand View Research, and could expand at a compound annual growth rate (CAGR) of 22.4% from 2021 to 2028. The research firm believes that growth will be primarily driven by Gen Z and Millennial consumers, especially those who have lower credit scores and can't qualify for better credit cards with lower interest rates.
If Affirm merely matches the market's projected growth rate, its revenue could rise from $870.5 million in fiscal 2021 to nearly $3.6 billion in fiscal 2028. If its revenue rises another 22% annually over the following two years, it could generate nearly $5.4 billion in revenue in fiscal 2030.
Affirm is currently valued at 38 times last year's sales. If it can maintain that high price-to-sales ratio over the next ten years and matches Grand View's market forecasts, it might be worth over $200 billion by the end of 2030. However, Affirm grew its revenue at a CAGR of 81.5% between fiscal 2019 and fiscal 2021. Therefore, its early-mover advantage and big partnerships could enable it to grow faster than the entire BNPL market.
Analysts already expect Affirm's revenue to rise more than 40% this year and next year. If Affirm grows at a CAGR of 35% between 2021 and 2030, its revenue could hit $13 billion by that final year. If its stock is still trading at 38 times sales by then, Affirm could be worth nearly $500 billion by 2030.
Although, that's a best-case scenario that doesn't factor in the competitive threats from other BNPL platforms, a potential recession, or other macroeconomic challenges occurring over the next nine years. Therefore, Affirm might generate big multi-bagger gains over the next decade, but its chances of joining the 12-zero club on its own are nearly non-existent.
Look beyond the market caps
Instead of wondering if Affirm will ever become a trillion-dollar stock, investors should focus on its near- to mid-term challenges. The company still has customer concentration issues, it's deeply unprofitable, and it will face a lot of competition as the BNPL market expands. Affirm needs to overcome all these issues before we assume the company will even be around in 2030.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Leo Sun owns shares of Amazon, PayPal Holdings, and Square. The Motley Fool owns shares of and recommends AFTERPAY T FPO, Affirm Holdings, Inc., Amazon, PayPal Holdings, Shopify, Square, and Visa. The Motley Fool recommends the following options: long January 2022 $1,920 calls on Amazon, long January 2022 $75 calls on PayPal Holdings, long January 2023 $1,140 calls on Shopify, short January 2022 $1,940 calls on Amazon, and short January 2023 $1,160 calls on Shopify. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Amazon's partnership with Affirm and the e-commerce giant's recent decision to ban Visa payments in the U.K. highlight that disruptive potential. If it can maintain that high price-to-sales ratio over the next ten years and matches Grand View's market forecasts, it might be worth over $200 billion by the end of 2030. Although, that's a best-case scenario that doesn't factor in the competitive threats from other BNPL platforms, a potential recession, or other macroeconomic challenges occurring over the next nine years.
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The BNPL market's growth potential The global BNPL market was valued at $4.1 billion in 2020, according to Grand View Research, and could expand at a compound annual growth rate (CAGR) of 22.4% from 2021 to 2028. The Motley Fool owns shares of and recommends AFTERPAY T FPO, Affirm Holdings, Inc., Amazon, PayPal Holdings, Shopify, Square, and Visa. The Motley Fool recommends the following options: long January 2022 $1,920 calls on Amazon, long January 2022 $75 calls on PayPal Holdings, long January 2023 $1,140 calls on Shopify, short January 2022 $1,940 calls on Amazon, and short January 2023 $1,160 calls on Shopify.
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The BNPL market's growth potential The global BNPL market was valued at $4.1 billion in 2020, according to Grand View Research, and could expand at a compound annual growth rate (CAGR) of 22.4% from 2021 to 2028. If Affirm merely matches the market's projected growth rate, its revenue could rise from $870.5 million in fiscal 2021 to nearly $3.6 billion in fiscal 2028. The Motley Fool recommends the following options: long January 2022 $1,920 calls on Amazon, long January 2022 $75 calls on PayPal Holdings, long January 2023 $1,140 calls on Shopify, short January 2022 $1,940 calls on Amazon, and short January 2023 $1,160 calls on Shopify.
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The BNPL market's growth potential The global BNPL market was valued at $4.1 billion in 2020, according to Grand View Research, and could expand at a compound annual growth rate (CAGR) of 22.4% from 2021 to 2028. 10 stocks we like better than Affirm Holdings, Inc. The Motley Fool owns shares of and recommends AFTERPAY T FPO, Affirm Holdings, Inc., Amazon, PayPal Holdings, Shopify, Square, and Visa.
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3983.0
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2021-12-06 00:00:00 UTC
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Why Airline Shares Are Flying High Today
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AAL
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https://www.nasdaq.com/articles/why-airline-shares-are-flying-high-today
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nan
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nan
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What happened
Over the weekend, a top U.S. health official delivered some encouraging news about the pandemic. That's providing a lift to airline stocks, one of the sectors most impacted by COVID-19. American Airlines Group (NASDAQ: AAL) is leading the way higher on Monday, up more than 10% as of 1 p.m. ET, with shares of Delta Air Lines (NYSE: DAL), United Airlines Holdings (NASDAQ: UAL), Southwest Airlines (NYSE: LUV), JetBlue Airways (NASDAQ: JBLU), Spirit Airlines (NYSE: SAVE), and Brazil's Azul (NYSE: AZUL) each up 5% or more.
So what
Airline stocks lost more than half of their value in the early days of the pandemic as the industry quickly switched into crisis mode. The companies listed above were able to survive, but took on billions in added debt to make up for lost revenue and have balance sheets that are battered and bruised and in poor shape to deal with any additional crisis.
Image source: Getty Images.
With that in mind, it is no surprise that the airlines sold off last week as part of wider concerns about the new omicron variant. But Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases and one of the key U.S. government point persons on the pandemic, told CNN over the weekend that there are some encouraging data indicating the latest variant is not as severe as past iterations.
"Thus far it does not look like there's a great degree of severity to it, but we've really got to be careful before we make any determinations that it is less severe or really doesn't really cause any severe illness," Fauci said.
Fauci's comments helped spark a 2% rally on Wall Street on Monday, and airlines are rallying well ahead of market averages. The airlines are healthy enough to survive all but a nightmare scenario where we return to early COVID-related lockdowns and travel restrictions, and Fauci's comments are an indication that, at least at this point, we do not appear to be heading in that direction.
American is getting an added boost after the stock was upgraded to an in-line rating from underperform at Evercore ISI. Analyst Duane Pfennigwerth wrote that the shares were down about 15% since Thanksgiving, giving American a more reasonable valuation. The analyst noted that American still has a heavier debt load than its peers, but thinks it will be able to strengthen its balance sheet in the years ahead through lower capital expenditures.
Azul's Brazilian domestic market has been slower to recover than the U.S., but the airline is among the healthiest in Latin America and is well positioned to expand.
Now what
Investors would be wise to pay attention to the second half of Fauci's comments, where he notes that we still need to be careful about rushing to any conclusions. As we've learned over the past 18 months pandemics by their nature are unpredictable, and even if omicron doesn't end up as bad as some have feared we could still face further twists and turns before COVID is behind us.
For those who have a long enough time horizon, there is a lot to like about long-term travel trends. An emerging global middle class, coupled with pent-up demand for travel in the U.S. and elsewhere and an eventual return of business travel, should help push airlines higher in the years to come. But it appears likely that rise will take time, and will face further turbulence along the way.
Investors willing to wait out a travel return might want to consider an aircraft leasing company like AerCap Holdings that has broad exposure to aviation instead of trying to pick and choose among individual carriers. If your preference is an airline, Delta, Southwest, and United all look like better bets to bounce back sooner compared to American, which as Pfennigwerth notes has more work to do to repair its balance sheets.
10 stocks we like better than Southwest Airlines
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Lou Whiteman owns shares of AerCap Holdings, Delta Air Lines, and Spirit Airlines. The Motley Fool owns shares of and recommends Spirit Airlines. The Motley Fool recommends AerCap Holdings, Delta Air Lines, JetBlue Airways, and Southwest Airlines. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group (NASDAQ: AAL) is leading the way higher on Monday, up more than 10% as of 1 p.m. The companies listed above were able to survive, but took on billions in added debt to make up for lost revenue and have balance sheets that are battered and bruised and in poor shape to deal with any additional crisis. But Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases and one of the key U.S. government point persons on the pandemic, told CNN over the weekend that there are some encouraging data indicating the latest variant is not as severe as past iterations.
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American Airlines Group (NASDAQ: AAL) is leading the way higher on Monday, up more than 10% as of 1 p.m. ET, with shares of Delta Air Lines (NYSE: DAL), United Airlines Holdings (NASDAQ: UAL), Southwest Airlines (NYSE: LUV), JetBlue Airways (NASDAQ: JBLU), Spirit Airlines (NYSE: SAVE), and Brazil's Azul (NYSE: AZUL) each up 5% or more. See the 10 stocks *Stock Advisor returns as of November 10, 2021 Lou Whiteman owns shares of AerCap Holdings, Delta Air Lines, and Spirit Airlines.
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American Airlines Group (NASDAQ: AAL) is leading the way higher on Monday, up more than 10% as of 1 p.m. ET, with shares of Delta Air Lines (NYSE: DAL), United Airlines Holdings (NASDAQ: UAL), Southwest Airlines (NYSE: LUV), JetBlue Airways (NASDAQ: JBLU), Spirit Airlines (NYSE: SAVE), and Brazil's Azul (NYSE: AZUL) each up 5% or more. 10 stocks we like better than Southwest Airlines When our award-winning analyst team has a stock tip, it can pay to listen.
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American Airlines Group (NASDAQ: AAL) is leading the way higher on Monday, up more than 10% as of 1 p.m. But Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases and one of the key U.S. government point persons on the pandemic, told CNN over the weekend that there are some encouraging data indicating the latest variant is not as severe as past iterations. See the 10 stocks *Stock Advisor returns as of November 10, 2021 Lou Whiteman owns shares of AerCap Holdings, Delta Air Lines, and Spirit Airlines.
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3984.0
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2021-12-06 00:00:00 UTC
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S&P 500 Movers: MRNA, AAL
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AAL
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https://www.nasdaq.com/articles/sp-500-movers%3A-mrna-aal
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In early trading on Monday, shares of American Airlines Group topped the list of the day's best performing components of the S&P 500 index, trading up 6.5%. Year to date, American Airlines Group registers a 12.2% gain.
And the worst performing S&P 500 component thus far on the day is Moderna, trading down 11.4%. Moderna is showing a gain of 160.2% looking at the year to date performance.
Two other components making moves today are NVIDIA, trading down 6.0%, and United Airlines Holdings, trading up 5.5% on the day.
VIDEO: S&P 500 Movers: MRNA, AAL
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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VIDEO: S&P 500 Movers: MRNA, AAL The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Year to date, American Airlines Group registers a 12.2% gain. And the worst performing S&P 500 component thus far on the day is Moderna, trading down 11.4%.
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VIDEO: S&P 500 Movers: MRNA, AAL The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In early trading on Monday, shares of American Airlines Group topped the list of the day's best performing components of the S&P 500 index, trading up 6.5%. Year to date, American Airlines Group registers a 12.2% gain.
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VIDEO: S&P 500 Movers: MRNA, AAL The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In early trading on Monday, shares of American Airlines Group topped the list of the day's best performing components of the S&P 500 index, trading up 6.5%. Two other components making moves today are NVIDIA, trading down 6.0%, and United Airlines Holdings, trading up 5.5% on the day.
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VIDEO: S&P 500 Movers: MRNA, AAL The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In early trading on Monday, shares of American Airlines Group topped the list of the day's best performing components of the S&P 500 index, trading up 6.5%. And the worst performing S&P 500 component thus far on the day is Moderna, trading down 11.4%.
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3985.0
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2021-12-03 00:00:00 UTC
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U.S. airlines to participate in Senate oversight hearing
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https://www.nasdaq.com/articles/u.s.-airlines-to-participate-in-senate-oversight-hearing
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By David Shepardson
WASHINGTON, Dec 3 (Reuters) - U.S. airlines will take part in a Senate oversight hearing this month on the industry, an aviation trade group said on Friday, with lawmakers expected to quiz executives about how carriers used pandemic-related federal aid, staffing issues and other matters.
The Senate Commerce Committee has invited the chief executives of seven major U.S. airlines to testify at the planned Dec. 15 hearing.
Airlines for America (A4A), an industry trade group, said in a statement that "the U.S. airlines look forward to participating" but did not specify whether the CEOs would testify, as requested by Democratic Senator Maria Cantwell, the committee's chair.
Cantwell has invited the CEOs of American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N, United Airlines UAL.N, JetBlue Airways JBLU.O, Alaska Airlines ALK.N and Spirit Airlines SAVE.N to appear, Reuters reported this week.
A4A said the carriers look forward to continuing to work with Cantwell and Senator Roger Wicker, the committee's top Republican, "on the issues facing the U.S. airline industry."
"I would encourage them to show up," Cantwell told Reuters on Wednesday of the CEOs. "I think it is bad faith not to show up. ... The public deserves to know some answers."
Cantwell added that "we're going to do our oversight role because this was a lot of money." Many of those CEOs are expected to be in Washington on the day of the hearing to take part in an A4A meeting, officials said.
U.S. airlines and carriers around the world were hard hit by reduced business and tourist travel during the COVID-19 pandemic. Starting in March 2020, Congress approved three rounds of taxpayer bailouts totaling $54 billion to cover much of U.S. airline payroll costs through Sept. 30 of this year as a result of the pandemic.
Lawmakers want to know if voluntary employee buyouts offered by airlines, despite receiving payroll assistance, caused operational problems at some carriers that have resulted in the cancellation of hundreds of flights in recent months.
The leaders of the U.S. House of Representatives Transportation Committee separately have asked A4A to answer questions about the government payroll aid that the carriers received.
Democratic Representative Peter DeFazio, the committee's chairman, and the panel's top Republican, Representative Sam Graves, asked A4A to answer questions about staffing reductions despite the taxpayer assistance.
DeFazio and Graves in a letter made public late on Thursday noted that questions have been raised about disruptions at two major U.S. carriers in recent months and asked whether that is the result of "a shortage of workers in key operational areas" despite the aid from Congress.
"We expect airlines to take whatever measures are available to ameliorate any short-staffing issues and begin to address longer-term workforce shortages," the two congressmen wrote.
Southwest Airlines and American Airlines in recent months have had high-profile issues resulting in the cancellation of hundreds of flights.
A4A said COVID-19 cut air travel demand by as much as 96% during the early stages of the pandemic last year.
"The industry was in survival mode, and the (assistance program) was critical to ensuring U.S. airline employees remained on the job, ready to go and able to continue providing essential services," the group said.
It added that "the operational disruptions that some carriers have experienced are wholly unrelated to the federal support."
Airlines that received government assistance were not allowed to issue involuntary layoffs or cut worker pay. They also had to limit executive compensation and halt share buybacks and dividend payments.
(Reporting by David Shepardson Editing by Marguerita Choy)
((David.Shepardson@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Cantwell has invited the CEOs of American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N, United Airlines UAL.N, JetBlue Airways JBLU.O, Alaska Airlines ALK.N and Spirit Airlines SAVE.N to appear, Reuters reported this week. By David Shepardson WASHINGTON, Dec 3 (Reuters) - U.S. airlines will take part in a Senate oversight hearing this month on the industry, an aviation trade group said on Friday, with lawmakers expected to quiz executives about how carriers used pandemic-related federal aid, staffing issues and other matters. Lawmakers want to know if voluntary employee buyouts offered by airlines, despite receiving payroll assistance, caused operational problems at some carriers that have resulted in the cancellation of hundreds of flights in recent months.
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Cantwell has invited the CEOs of American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N, United Airlines UAL.N, JetBlue Airways JBLU.O, Alaska Airlines ALK.N and Spirit Airlines SAVE.N to appear, Reuters reported this week. By David Shepardson WASHINGTON, Dec 3 (Reuters) - U.S. airlines will take part in a Senate oversight hearing this month on the industry, an aviation trade group said on Friday, with lawmakers expected to quiz executives about how carriers used pandemic-related federal aid, staffing issues and other matters. Democratic Representative Peter DeFazio, the committee's chairman, and the panel's top Republican, Representative Sam Graves, asked A4A to answer questions about staffing reductions despite the taxpayer assistance.
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Cantwell has invited the CEOs of American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N, United Airlines UAL.N, JetBlue Airways JBLU.O, Alaska Airlines ALK.N and Spirit Airlines SAVE.N to appear, Reuters reported this week. By David Shepardson WASHINGTON, Dec 3 (Reuters) - U.S. airlines will take part in a Senate oversight hearing this month on the industry, an aviation trade group said on Friday, with lawmakers expected to quiz executives about how carriers used pandemic-related federal aid, staffing issues and other matters. Airlines for America (A4A), an industry trade group, said in a statement that "the U.S. airlines look forward to participating" but did not specify whether the CEOs would testify, as requested by Democratic Senator Maria Cantwell, the committee's chair.
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Cantwell has invited the CEOs of American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N, United Airlines UAL.N, JetBlue Airways JBLU.O, Alaska Airlines ALK.N and Spirit Airlines SAVE.N to appear, Reuters reported this week. A4A said the carriers look forward to continuing to work with Cantwell and Senator Roger Wicker, the committee's top Republican, "on the issues facing the U.S. airline industry." DeFazio and Graves in a letter made public late on Thursday noted that questions have been raised about disruptions at two major U.S. carriers in recent months and asked whether that is the result of "a shortage of workers in key operational areas" despite the aid from Congress.
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3986.0
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2021-12-03 00:00:00 UTC
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Scrutiny of U.S. airline assistance grows in Congress
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AAL
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https://www.nasdaq.com/articles/scrutiny-of-u.s.-airline-assistance-grows-in-congress
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By David Shepardson
WASHINGTON, Dec 3 (Reuters) - The leaders of the U.S. House Transportation Committee have asked a major airline industry trade group to answer questions about $54 billion in government payroll aid carriers got.
Committee chair Peter DeFazio, a Democrat, and the panel's top Republican Sam Graves, asked Airlines for America (A4A) to answer questions about staffing reductions despite the taxpayer assistance.
The lawmakers in a letter late Thursday noted questions have been raised about disruptions at two major U.S. carriers in recent months. They asked in the letter if that is the result of "a shortage of workers in key operational areas, despite the approximately $50 billion in aid" from Congress.
"We expect airlines to take whatever measures are available to ameliorate any short-staffing issues and begin to address longer-term workforce shortages."
The letter comes as the Senate Commerce Committee has invited the chief executives of seven major U.S. airlines to testify at an oversight hearing now expected to take place Dec. 15.
Senator Maria Cantwell, a Democrat who chairs the panel, is inviting the CEOs of American Airlines , Delta Air Lines , Southwest Airlines , United Airlines , JetBlue Airways , Alaska Airlines and Spirit Airlines to testify, Reuters reported earlier this week.
Many of those CEOs are expected to be in Washington on Dec. 15 to take part in an A4A meeting, officials said.
Cantwell said the CEOs should testify.
"I would encourage them to show up," Cantwell told Reuters on Wednesday. "I think it is bad faith not to show up ... The public deserves to know some answers."
She added "we're going to do our oversight role because this was a lot of money."
The airlines declined comment or did not immediately comment.
Starting in March 2020, Congress approved three separate rounds of taxpayer bailouts totaling $54 billion to cover much of U.S. airlines' payroll costs through Sept. 30 as a result of the COVID-19 pandemic.
Airlines that received government assistance were not allowed to issue involuntary layoffs or cut worker pay. They also had to limit executive compensation and halt share buybacks and dividend payments.
(Reporting by David Shepardson Editing by Marguerita Choy) ((David.Shepardson@thomsonreuters.com; 2028988324;)) Keywords: USA AIRLINES/CONGRESS
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson WASHINGTON, Dec 3 (Reuters) - The leaders of the U.S. House Transportation Committee have asked a major airline industry trade group to answer questions about $54 billion in government payroll aid carriers got. Committee chair Peter DeFazio, a Democrat, and the panel's top Republican Sam Graves, asked Airlines for America (A4A) to answer questions about staffing reductions despite the taxpayer assistance. Starting in March 2020, Congress approved three separate rounds of taxpayer bailouts totaling $54 billion to cover much of U.S. airlines' payroll costs through Sept. 30 as a result of the COVID-19 pandemic.
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By David Shepardson WASHINGTON, Dec 3 (Reuters) - The leaders of the U.S. House Transportation Committee have asked a major airline industry trade group to answer questions about $54 billion in government payroll aid carriers got. The letter comes as the Senate Commerce Committee has invited the chief executives of seven major U.S. airlines to testify at an oversight hearing now expected to take place Dec. 15. Senator Maria Cantwell, a Democrat who chairs the panel, is inviting the CEOs of American Airlines , Delta Air Lines , Southwest Airlines , United Airlines , JetBlue Airways , Alaska Airlines and Spirit Airlines to testify, Reuters reported earlier this week.
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By David Shepardson WASHINGTON, Dec 3 (Reuters) - The leaders of the U.S. House Transportation Committee have asked a major airline industry trade group to answer questions about $54 billion in government payroll aid carriers got. The letter comes as the Senate Commerce Committee has invited the chief executives of seven major U.S. airlines to testify at an oversight hearing now expected to take place Dec. 15. Senator Maria Cantwell, a Democrat who chairs the panel, is inviting the CEOs of American Airlines , Delta Air Lines , Southwest Airlines , United Airlines , JetBlue Airways , Alaska Airlines and Spirit Airlines to testify, Reuters reported earlier this week.
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By David Shepardson WASHINGTON, Dec 3 (Reuters) - The leaders of the U.S. House Transportation Committee have asked a major airline industry trade group to answer questions about $54 billion in government payroll aid carriers got. The letter comes as the Senate Commerce Committee has invited the chief executives of seven major U.S. airlines to testify at an oversight hearing now expected to take place Dec. 15. Cantwell said the CEOs should testify.
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3987.0
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2021-12-03 00:00:00 UTC
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Noteworthy Friday Option Activity: AAL, WBA, LYV
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AAL
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https://www.nasdaq.com/articles/noteworthy-friday-option-activity%3A-aal-wba-lyv
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in American Airlines Group Inc (Symbol: AAL), where a total volume of 236,274 contracts has been traded thus far today, a contract volume which is representative of approximately 23.6 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 61.5% of AAL's average daily trading volume over the past month, of 38.4 million shares. Especially high volume was seen for the $17 strike put option expiring December 17, 2021, with 43,284 contracts trading so far today, representing approximately 4.3 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $17 strike highlighted in orange:
Walgreens Boots Alliance Inc (Symbol: WBA) options are showing a volume of 38,976 contracts thus far today. That number of contracts represents approximately 3.9 million underlying shares, working out to a sizeable 61.3% of WBA's average daily trading volume over the past month, of 6.4 million shares. Especially high volume was seen for the $50 strike call option expiring January 21, 2022, with 9,311 contracts trading so far today, representing approximately 931,100 underlying shares of WBA. Below is a chart showing WBA's trailing twelve month trading history, with the $50 strike highlighted in orange:
And Live Nation Entertainment Inc (Symbol: LYV) saw options trading volume of 18,129 contracts, representing approximately 1.8 million underlying shares or approximately 60.6% of LYV's average daily trading volume over the past month, of 3.0 million shares. Especially high volume was seen for the $92.50 strike put option expiring December 17, 2021, with 3,258 contracts trading so far today, representing approximately 325,800 underlying shares of LYV. Below is a chart showing LYV's trailing twelve month trading history, with the $92.50 strike highlighted in orange:
For the various different available expirations for AAL options, WBA options, or LYV options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $17 strike put option expiring December 17, 2021, with 43,284 contracts trading so far today, representing approximately 4.3 million underlying shares of AAL. Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in American Airlines Group Inc (Symbol: AAL), where a total volume of 236,274 contracts has been traded thus far today, a contract volume which is representative of approximately 23.6 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 61.5% of AAL's average daily trading volume over the past month, of 38.4 million shares.
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Especially high volume was seen for the $17 strike put option expiring December 17, 2021, with 43,284 contracts trading so far today, representing approximately 4.3 million underlying shares of AAL. Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in American Airlines Group Inc (Symbol: AAL), where a total volume of 236,274 contracts has been traded thus far today, a contract volume which is representative of approximately 23.6 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 61.5% of AAL's average daily trading volume over the past month, of 38.4 million shares.
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in American Airlines Group Inc (Symbol: AAL), where a total volume of 236,274 contracts has been traded thus far today, a contract volume which is representative of approximately 23.6 million underlying shares (given that every 1 contract represents 100 underlying shares). Especially high volume was seen for the $17 strike put option expiring December 17, 2021, with 43,284 contracts trading so far today, representing approximately 4.3 million underlying shares of AAL. That number works out to 61.5% of AAL's average daily trading volume over the past month, of 38.4 million shares.
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Especially high volume was seen for the $17 strike put option expiring December 17, 2021, with 43,284 contracts trading so far today, representing approximately 4.3 million underlying shares of AAL. Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in American Airlines Group Inc (Symbol: AAL), where a total volume of 236,274 contracts has been traded thus far today, a contract volume which is representative of approximately 23.6 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 61.5% of AAL's average daily trading volume over the past month, of 38.4 million shares.
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3988.0
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2021-12-03 00:00:00 UTC
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Market Recap: Why Are Stocks Down This Week?
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https://www.nasdaq.com/articles/market-recap%3A-why-are-stocks-down-this-week
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Investors haven’t been doing so hot this week and we’re diving into this as we look at why stocks are down.
Source: tungtaechit / Shutterstock.com
Easily the biggest factor behind why stocks are down this week is the Covid-19 Omicrom variant. News of the new coronavirus mutation sent markets into a tizzy are traders feared additional lockdowns and restrictions.
Talk about Omicron initially kicked off last week and saw some of the normal stocks take a hit. That airline and cruise stocks, such as American Airlines (NASDAQ:AAL), Delta Airlines (NYSE:DAL), and United Airlines (NASDAQ:UAL), as well as Carnival (NYSE:CCL), Royal Caribbean Cruises (NYSE:RCL), and Norwegian Cruise Line (NYSE:NCLH).
In that same vein, hotel stocks, including Marriott (NASDAQ:MAR), Hyatt (NYSE:H), and Hilton (NYSE:HLT), were also taking a beating earlier this week. The threat of diminishing business due to reduced travel really gave them a pounding. However, not all hope is lost.
President Joe Biden recently announced that there are no plans for any more lockdowns. That news seems to have alleviated investors’ fears as some of these travel stocks started to regain lost ground late in the week.
7 Best Robinhood Stocks to Buy That Pay Monthly Dividends
Inflation also continues to be a hot topic among traders and is likely part of the reason why stocks are down this week. Recently, Treasury Secretary Janet Yellen said it’s time to stop calling inflation “transitory.” Instead, she believes it could affect the economy for a long time due to the ongoing effects of the coronavirus pandemic.
Traders will want to continue tracking Omicorn and inflation as both seem to be factors that will affect stocks for some time.
Investors looking for morestock market news todayare in luck!
InvestorPlace has all the most recent stock coverage that traders need for Friday. A few examples of that include what’s happening with shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) stock, why Chinese stocks are falling, as well as the Smith & Wesson (NASDAQ:SWBI) news blasting shares. You can find all of that and more from the following links!
More Stock Market News for Friday
OLLI Stock Alert: Why Ollie’s Bargain Outlet Is Getting Battered Today
Chinese Stocks BABA, JD, BIDU Take Hit Thanks to Didi Delisting News
SWBI Stock: Why Smith & Wesson Shares Are Getting Gunned Down Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
The post Market Recap: Why Are Stocks Down This Week? appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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That airline and cruise stocks, such as American Airlines (NASDAQ:AAL), Delta Airlines (NYSE:DAL), and United Airlines (NASDAQ:UAL), as well as Carnival (NYSE:CCL), Royal Caribbean Cruises (NYSE:RCL), and Norwegian Cruise Line (NYSE:NCLH). News of the new coronavirus mutation sent markets into a tizzy are traders feared additional lockdowns and restrictions. Talk about Omicron initially kicked off last week and saw some of the normal stocks take a hit.
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That airline and cruise stocks, such as American Airlines (NASDAQ:AAL), Delta Airlines (NYSE:DAL), and United Airlines (NASDAQ:UAL), as well as Carnival (NYSE:CCL), Royal Caribbean Cruises (NYSE:RCL), and Norwegian Cruise Line (NYSE:NCLH). A few examples of that include what’s happening with shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) stock, why Chinese stocks are falling, as well as the Smith & Wesson (NASDAQ:SWBI) news blasting shares. More Stock Market News for Friday OLLI Stock Alert: Why Ollie’s Bargain Outlet Is Getting Battered Today Chinese Stocks BABA, JD, BIDU Take Hit Thanks to Didi Delisting News SWBI Stock: Why Smith & Wesson Shares Are Getting Gunned Down Today On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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That airline and cruise stocks, such as American Airlines (NASDAQ:AAL), Delta Airlines (NYSE:DAL), and United Airlines (NASDAQ:UAL), as well as Carnival (NYSE:CCL), Royal Caribbean Cruises (NYSE:RCL), and Norwegian Cruise Line (NYSE:NCLH). InvestorPlace - Stock Market News, Stock Advice & Trading Tips Investors haven’t been doing so hot this week and we’re diving into this as we look at why stocks are down. A few examples of that include what’s happening with shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) stock, why Chinese stocks are falling, as well as the Smith & Wesson (NASDAQ:SWBI) news blasting shares.
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That airline and cruise stocks, such as American Airlines (NASDAQ:AAL), Delta Airlines (NYSE:DAL), and United Airlines (NASDAQ:UAL), as well as Carnival (NYSE:CCL), Royal Caribbean Cruises (NYSE:RCL), and Norwegian Cruise Line (NYSE:NCLH). InvestorPlace - Stock Market News, Stock Advice & Trading Tips Investors haven’t been doing so hot this week and we’re diving into this as we look at why stocks are down. That news seems to have alleviated investors’ fears as some of these travel stocks started to regain lost ground late in the week.
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3989.0
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2021-12-03 00:00:00 UTC
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First Week of January 2022 Options Trading For American Airlines Group (AAL)
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AAL
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https://www.nasdaq.com/articles/first-week-of-january-2022-options-trading-for-american-airlines-group-aal
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Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading this week, for the January 2022 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new January 2022 contracts and identified one put and one call contract of particular interest.
The put contract at the $16.00 strike price has a current bid of $1.07. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $16.00, but will also collect the premium, putting the cost basis of the shares at $14.93 (before broker commissions). To an investor already interested in purchasing shares of AAL, that could represent an attractive alternative to paying $16.85/share today.
Because the $16.00 strike represents an approximate 5% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 65%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 6.69% return on the cash commitment, or 58.12% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for American Airlines Group Inc, and highlighting in green where the $16.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $17.00 strike price has a current bid of $1.38. If an investor was to purchase shares of AAL stock at the current price level of $16.85/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $17.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 9.08% if the stock gets called away at the January 2022 expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if AAL shares really soar, which is why looking at the trailing twelve month trading history for American Airlines Group Inc, as well as studying the business fundamentals becomes important. Below is a chart showing AAL's trailing twelve month trading history, with the $17.00 strike highlighted in red:
Considering the fact that the $17.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 50%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 8.19% boost of extra return to the investor, or 71.17% annualized, which we refer to as the YieldBoost.
The implied volatility in the put contract example is 67%, while the implied volatility in the call contract example is 66%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 252 trading day closing values as well as today's price of $16.85) to be 47%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Of course, a lot of upside could potentially be left on the table if AAL shares really soar, which is why looking at the trailing twelve month trading history for American Airlines Group Inc, as well as studying the business fundamentals becomes important. Below is a chart showing AAL's trailing twelve month trading history, with the $17.00 strike highlighted in red: Considering the fact that the $17.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading this week, for the January 2022 expiration.
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Below is a chart showing AAL's trailing twelve month trading history, with the $17.00 strike highlighted in red: Considering the fact that the $17.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading this week, for the January 2022 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new January 2022 contracts and identified one put and one call contract of particular interest.
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Below is a chart showing AAL's trailing twelve month trading history, with the $17.00 strike highlighted in red: Considering the fact that the $17.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading this week, for the January 2022 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new January 2022 contracts and identified one put and one call contract of particular interest.
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At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new January 2022 contracts and identified one put and one call contract of particular interest. Below is a chart showing AAL's trailing twelve month trading history, with the $17.00 strike highlighted in red: Considering the fact that the $17.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading this week, for the January 2022 expiration.
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3990.0
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2021-12-02 00:00:00 UTC
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Why Airline Stocks Are Flying Higher Today
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AAL
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https://www.nasdaq.com/articles/why-airline-stocks-are-flying-higher-today
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nan
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nan
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What happened
On Wednesday, Wall Street was in panic mode due to the threat of the new COVID variant. But just 24 hours later, investors seem to be taking a much more sanguine approach to the threat posed by the omicron strain. Airline stocks are taking off as a result, with shares of Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), United Airlines Holdings (NASDAQ: UAL), Southwest Airlines (NYSE: LUV), Spirit Airlines (NYSE: SAVE), and JetBlue Airways (NASDAQ: JBLU) each up more than 5% at midday Thursday.
So what
Airline stocks were hit hard by the initial COVID wave, with travel demand all but evaporating as nations closed their borders and would-be travelers were told to stay at home to be safe. That led to massive losses for the industry in 2020, but the stocks have battled back in 2021 as vaccines have been introduced and demand begins to return.
Image source: Getty Images.
We're off our lows, but the industry is still in a precarious position. So it is perhaps no surprise airline stocks fell more than the broader markets on Wednesday after the first U.S. confirmed case of the Omicron variant was announced.
That panic has largely subsided on Thursday, with markets seemingly taking comfort in reports that the Omicron variant might not be as lethal as previous iterations Analysts at JP Morgan seemed to sum up the mood of the market, calling the Omicron variant risk exaggerated and "highlighting worst-case scenarios."
For airlines, the important thing for investors to remember is that the U.S. industry was able to fly through the worst of the turbulence last year without any major bankruptcy filings. The industry's balance sheets are bruised but there are still levers that can be tapped in case demand slows down again. By and large, the airlines would only face potential liquidity issues in a worst-case scenario where the Omicron or some future variant leads to restrictions more severe than what we saw last year. Investors on Thursday appear to be growing in confidence that Omicron won't lead to that pessimistic outcome.
Now what
It's good news if the worst-case scenario can be avoided, but investors need to remember this recovery is still going to be a multi-year effort that will likely include plenty of volatility. The new variant has led to lockdowns and restrictions in other countries, and it will likely push back the time until lucrative international travel normalizes. Airlines in today's environment are generating enough revenue to keep the lights on and stay out of trouble, but the industry will not truly heal until we see a worldwide return to 2019 travel levels.
For those interested in investing in this industry's recovery, Delta and Southwest appear to be the safest picks. Delta was arguably the best-run airline in the industry prior to the pandemic, and has greater labor flexibility than most of its rivals. Southwest is the dominant U.S. domestic carrier, with costs that are lower than those of its largest rivals.
But even with the top names, investors should buckle up and expect a long journey.
10 stocks we like better than Southwest Airlines
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They just revealed what they believe are the ten best stocks for investors to buy right now... and Southwest Airlines wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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*Stock Advisor returns as of November 10, 2021
Lou Whiteman owns shares of Delta Air Lines and Spirit Airlines. The Motley Fool owns shares of and recommends Spirit Airlines. The Motley Fool recommends Delta Air Lines, JetBlue Airways, and Southwest Airlines. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Airline stocks are taking off as a result, with shares of Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), United Airlines Holdings (NASDAQ: UAL), Southwest Airlines (NYSE: LUV), Spirit Airlines (NYSE: SAVE), and JetBlue Airways (NASDAQ: JBLU) each up more than 5% at midday Thursday. By and large, the airlines would only face potential liquidity issues in a worst-case scenario where the Omicron or some future variant leads to restrictions more severe than what we saw last year. Now what It's good news if the worst-case scenario can be avoided, but investors need to remember this recovery is still going to be a multi-year effort that will likely include plenty of volatility.
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Airline stocks are taking off as a result, with shares of Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), United Airlines Holdings (NASDAQ: UAL), Southwest Airlines (NYSE: LUV), Spirit Airlines (NYSE: SAVE), and JetBlue Airways (NASDAQ: JBLU) each up more than 5% at midday Thursday. See the 10 stocks *Stock Advisor returns as of November 10, 2021 Lou Whiteman owns shares of Delta Air Lines and Spirit Airlines. The Motley Fool recommends Delta Air Lines, JetBlue Airways, and Southwest Airlines.
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Airline stocks are taking off as a result, with shares of Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), United Airlines Holdings (NASDAQ: UAL), Southwest Airlines (NYSE: LUV), Spirit Airlines (NYSE: SAVE), and JetBlue Airways (NASDAQ: JBLU) each up more than 5% at midday Thursday. That panic has largely subsided on Thursday, with markets seemingly taking comfort in reports that the Omicron variant might not be as lethal as previous iterations Analysts at JP Morgan seemed to sum up the mood of the market, calling the Omicron variant risk exaggerated and "highlighting worst-case scenarios." See the 10 stocks *Stock Advisor returns as of November 10, 2021 Lou Whiteman owns shares of Delta Air Lines and Spirit Airlines.
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Airline stocks are taking off as a result, with shares of Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), United Airlines Holdings (NASDAQ: UAL), Southwest Airlines (NYSE: LUV), Spirit Airlines (NYSE: SAVE), and JetBlue Airways (NASDAQ: JBLU) each up more than 5% at midday Thursday. By and large, the airlines would only face potential liquidity issues in a worst-case scenario where the Omicron or some future variant leads to restrictions more severe than what we saw last year. See the 10 stocks *Stock Advisor returns as of November 10, 2021 Lou Whiteman owns shares of Delta Air Lines and Spirit Airlines.
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3991.0
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2021-12-02 00:00:00 UTC
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Glencore widens review of assets, eyes acquisitions
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AAL
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https://www.nasdaq.com/articles/glencore-widens-review-of-assets-eyes-acquisitions-0
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nan
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nan
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By Clara Denina and Zandi Shabalala
LONDON, Dec 2 (Reuters) - Miner and trader Glencore GLEN.L said on Thursday it was in the process of selling 10 more assets, putting another 15 under review and considering acquisitions as it moves to refocus its portfolio on what it termed "commodities of the future".
Glencore, which owns more than 150 operating sites, has sold seven assets so far, including some Bolivian zinc mines and a copper-gold mine in Australia.
It has 10 sales processes underway across its portfolio and 15 further assets under review which may not fit the long-term strategy of the company, it said during its annual investor day.
"Those assets that are not fit for purpose or subscale we would look to move out of our portfolio," Chief Executive Gary Nagle said, without identifying the assets he was referring to.
"It's not a one-size-fits-all approach... each asset will be looked at on its own merit."
Glencore's share price closed down 4.1%.
The company on Thursday guided towards an adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of $21.7 billion in 2022, below analysts' expectations.
RBC Capital Markets had forecast an adjusted spot EBITDA of $27 billion for next year, while Jefferies had put it at $23.7 billion.
The miner also said it would temporarily raise its net debt to $16 billion, the top end of its target range, for potential mergers and acquisitions, but added that it does not have short-term targets.
"There is nothing cooking," said Chief Financial Officer Steve Kalmin, adding that targets would be "commodities of the future", without giving details.
Nagle defended the company's decarbonisation strategy to run down its coal mines by the mid-2040s, after an activist shareholder urged the company to spin off the unit and help prop up the "undervalued" stock.
London-based activist fund Bluebell Capital Partners Ltd on Tuesday asked Glencore to separate its thermal coal business and show its commitment to moving to cleaner energy sources, allowing more investors to buy the stock.
Some 94% of Glencore's shareholders voted in favour of the company's plans to hit net-zero carbon emissions by 2050.
Glencore is now looking for a 15% reduction in so-called Scope I and II emissions by 2026 compared to 2019, and 50% by 2035, from a previous target of 40%.
Thermal coal is the most polluting fossil fuel and other major mining companies, including Rio Tinto RIO.L, RIO.AX and Anglo American AAL.L, have sold or spun off their coal assets to meet emissions targets and shift towards sustainable energy.
Thermal coal prices, however, have recently soared on power shortages in China and a European gas squeeze, partly helping Glencore stock rise more than 50% this year.
(Reporting by Clara Denina and Zandi Shabalala; Editing by Jan Harvey and Susan Fenton)
((Clara.Denina@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Thermal coal is the most polluting fossil fuel and other major mining companies, including Rio Tinto RIO.L, RIO.AX and Anglo American AAL.L, have sold or spun off their coal assets to meet emissions targets and shift towards sustainable energy. By Clara Denina and Zandi Shabalala LONDON, Dec 2 (Reuters) - Miner and trader Glencore GLEN.L said on Thursday it was in the process of selling 10 more assets, putting another 15 under review and considering acquisitions as it moves to refocus its portfolio on what it termed "commodities of the future". London-based activist fund Bluebell Capital Partners Ltd on Tuesday asked Glencore to separate its thermal coal business and show its commitment to moving to cleaner energy sources, allowing more investors to buy the stock.
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Thermal coal is the most polluting fossil fuel and other major mining companies, including Rio Tinto RIO.L, RIO.AX and Anglo American AAL.L, have sold or spun off their coal assets to meet emissions targets and shift towards sustainable energy. By Clara Denina and Zandi Shabalala LONDON, Dec 2 (Reuters) - Miner and trader Glencore GLEN.L said on Thursday it was in the process of selling 10 more assets, putting another 15 under review and considering acquisitions as it moves to refocus its portfolio on what it termed "commodities of the future". (Reporting by Clara Denina and Zandi Shabalala; Editing by Jan Harvey and Susan Fenton) ((Clara.Denina@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Thermal coal is the most polluting fossil fuel and other major mining companies, including Rio Tinto RIO.L, RIO.AX and Anglo American AAL.L, have sold or spun off their coal assets to meet emissions targets and shift towards sustainable energy. By Clara Denina and Zandi Shabalala LONDON, Dec 2 (Reuters) - Miner and trader Glencore GLEN.L said on Thursday it was in the process of selling 10 more assets, putting another 15 under review and considering acquisitions as it moves to refocus its portfolio on what it termed "commodities of the future". London-based activist fund Bluebell Capital Partners Ltd on Tuesday asked Glencore to separate its thermal coal business and show its commitment to moving to cleaner energy sources, allowing more investors to buy the stock.
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Thermal coal is the most polluting fossil fuel and other major mining companies, including Rio Tinto RIO.L, RIO.AX and Anglo American AAL.L, have sold or spun off their coal assets to meet emissions targets and shift towards sustainable energy. By Clara Denina and Zandi Shabalala LONDON, Dec 2 (Reuters) - Miner and trader Glencore GLEN.L said on Thursday it was in the process of selling 10 more assets, putting another 15 under review and considering acquisitions as it moves to refocus its portfolio on what it termed "commodities of the future". Nagle defended the company's decarbonisation strategy to run down its coal mines by the mid-2040s, after an activist shareholder urged the company to spin off the unit and help prop up the "undervalued" stock.
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3992.0
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2021-12-02 00:00:00 UTC
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Glencore widens review of assets, eyes acquisitions
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AAL
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https://www.nasdaq.com/articles/glencore-widens-review-of-assets-eyes-acquisitions
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nan
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nan
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By Clara Denina and Zandi Shabalala
LONDON, Dec 2 (Reuters) - Miner and trader Glencore GLEN.L said on Thursday it was in the process of selling 10 more assets, putting another 15 under review, and considering acquisitions as it moves to refocus its portfolio on what it termed "commodities of the future".
Glencore, which owns more than 150 operating sites, has sold seven assets so far, including some Bolivian zinc mines and a copper-gold mine in Australia.
It has 10 sales processes underway across its portfolio and 15 further assets under review which may not fit the long-term strategy of the company, it said during its annual investor day.
"Those assets that are not fit for purpose or subscale we would look to move out of our portfolio," Chief Executive Gary Nagle said, without identifying the assets he was referring to.
"It's not a one-size-fits-all approach... each asset will be looked at on its own merit."
Glencore's share price was down 4% by 1600 GMT as investors started digesting the announcements.
The miner also said it would temporarily raise its net debt to $16 billion, the top end of its target range, for potential mergers and acquisitions, but added that it does not have short-term targets.
"There is nothing cooking," said Chief Financial Officer Steve Kalmin, adding that targets would be "commodities of the future", without giving details.
Nagle defended the company's decarbonisation strategy to run down its coal mines by the mid-2040s, after an activist shareholder urged the company to spin off the unit and help prop up the "undervalued" stock.
London-based activist fund Bluebell Capital Partners Ltd on Tuesday asked Glencore to separate its thermal coal business and show its commitment to moving to cleaner energy sources, allowing more investors to buy the stock.
Some 94% of Glencore's shareholders voted in favour of the company's plans to hit net-zero carbon emissions by 2050.
Glencore is now looking for a 15% reduction in so-called Scope I and II emissions by 2026 compared to 2019, and 50% by 2035, from a previous target of 40%.
Thermal coal is the most polluting fossil fuel and other major mining companies, including Rio Tinto RIO.L, RIO.AX and Anglo American AAL.L, have sold or spun off their coal assets to meet emissions targets and shift towards sustainable energy.
Thermal coal prices however have recently soared on Chinese power shortages and a European gas squeeze, partly helping Glencore stock rise more than 50% this year.
The company said on Thursday it expects adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) from its coal assets of around $5.3 billion-$5.5 billion in 2021 and $6.3 billion next year.
(Editing by Jan Harvey)
((Clara.Denina@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Thermal coal is the most polluting fossil fuel and other major mining companies, including Rio Tinto RIO.L, RIO.AX and Anglo American AAL.L, have sold or spun off their coal assets to meet emissions targets and shift towards sustainable energy. By Clara Denina and Zandi Shabalala LONDON, Dec 2 (Reuters) - Miner and trader Glencore GLEN.L said on Thursday it was in the process of selling 10 more assets, putting another 15 under review, and considering acquisitions as it moves to refocus its portfolio on what it termed "commodities of the future". London-based activist fund Bluebell Capital Partners Ltd on Tuesday asked Glencore to separate its thermal coal business and show its commitment to moving to cleaner energy sources, allowing more investors to buy the stock.
|
Thermal coal is the most polluting fossil fuel and other major mining companies, including Rio Tinto RIO.L, RIO.AX and Anglo American AAL.L, have sold or spun off their coal assets to meet emissions targets and shift towards sustainable energy. It has 10 sales processes underway across its portfolio and 15 further assets under review which may not fit the long-term strategy of the company, it said during its annual investor day. Thermal coal prices however have recently soared on Chinese power shortages and a European gas squeeze, partly helping Glencore stock rise more than 50% this year.
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Thermal coal is the most polluting fossil fuel and other major mining companies, including Rio Tinto RIO.L, RIO.AX and Anglo American AAL.L, have sold or spun off their coal assets to meet emissions targets and shift towards sustainable energy. By Clara Denina and Zandi Shabalala LONDON, Dec 2 (Reuters) - Miner and trader Glencore GLEN.L said on Thursday it was in the process of selling 10 more assets, putting another 15 under review, and considering acquisitions as it moves to refocus its portfolio on what it termed "commodities of the future". London-based activist fund Bluebell Capital Partners Ltd on Tuesday asked Glencore to separate its thermal coal business and show its commitment to moving to cleaner energy sources, allowing more investors to buy the stock.
|
Thermal coal is the most polluting fossil fuel and other major mining companies, including Rio Tinto RIO.L, RIO.AX and Anglo American AAL.L, have sold or spun off their coal assets to meet emissions targets and shift towards sustainable energy. Glencore, which owns more than 150 operating sites, has sold seven assets so far, including some Bolivian zinc mines and a copper-gold mine in Australia. It has 10 sales processes underway across its portfolio and 15 further assets under review which may not fit the long-term strategy of the company, it said during its annual investor day.
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3993.0
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2021-12-01 00:00:00 UTC
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Why Airline Stocks Like Delta and United Were Grounded (Again) Today
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AAL
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https://www.nasdaq.com/articles/why-airline-stocks-like-delta-and-united-were-grounded-again-today
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nan
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nan
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What happened
After starting the day with a gain, shares of Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), and United Airlines Holdings (NASDAQ: UAL) all ended Wednesday's trading session firmly in the red. The first confirmed case of the omicron variant of COVID-19 in the U.S. prompted worry that new lockdowns and travel bans could be in the offing.
So what
While it's possible the coronavirus variant first identified as omicron in South Africa a week ago and detected in more than 20 countries in the meantime was already here, the variant's arrival in the U.S. is now confirmed. One individual in San Francisco has tested positive for the variant. The infected person returned from a trip to South Africa on Nov. 22, potentially exposing others to infection between then and Wednesday.
Given the timing of the individual's travel, it's arguable others in the U.S. have been and/or are infected without realizing it. And that's a problem. The existing vaccines and some treatments were developed based on pre-delta variants of the coronavirus, and may be somewhat ineffective against the newest mutation of the virus. Notably, the infected individual in San Francisco had been fully vaccinated.
Image source: Getty Images.
The headlines are of course alarming to shareholders of already-beleaguered airlines. The White House has already imposed restrictions on travelers from South Africa and several neighboring countries into the U.S. Such restrictions could be expanded or even established domestically, should the pandemic's current contraction reverse course again. And even if air travel is not outright banned everywhere, consumers and corporations may choose not to travel until it's clear the threat of the omicron variant is contained, or at least confirmed not to be a serious threat.
Now what
It's already been a rough year for airline stocks. With today's 7.6% setback, United Airlines shares are now down 38% from their March peak, as the hoped-for travel rebound rooted in the widespread availability of COVID-19 vaccines has been weaker than anticipated. Delta stock is off 35% from this year's high thanks to Wednesday's 7.4% loss, and like United, hit new 52-week lows as a result. Ditto for American Airlines, which fell 8% today and now sits 37% below its June high. Much of those losses have been logged just within the past week, as omicron emerged.
DAL data by YCharts
The scope of these sell-offs is tempting to bargain-minded investors. And sooner or later the industry will push through the headwinds of such alarming news. Cowen research analyst Helane Becker even suggested in an interview with Yahoo! Finance that "we're crying wolf" when such headlines prompt investors to dump airline stocks, only to pick them up again once that panic subsides.
The challenge, however, is the sheer unpredictable volatility these stocks have dished out over the course of the past several months. The fear of new travel bans may well be unmerited, but it's fear that can still take a large toll on these stocks before the market begins to believe that. And of course, maybe worries of new travel bans or even just travel slowdowns are completely justified. As tempting as airline names like Delta and American may be after today's sizable dips, there's simply not enough clarity about their futures to justify the risk of stepping into them now.
Fortunately, that's not nearly as true for other industries and their stocks even with new worries surrounding the omicron variant.
10 stocks we like better than Delta Air Lines
When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and Delta Air Lines wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of November 10, 2021
James Brumley has no position in any of the stocks mentioned. The Motley Fool recommends Delta Air Lines. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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What happened After starting the day with a gain, shares of Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), and United Airlines Holdings (NASDAQ: UAL) all ended Wednesday's trading session firmly in the red. With today's 7.6% setback, United Airlines shares are now down 38% from their March peak, as the hoped-for travel rebound rooted in the widespread availability of COVID-19 vaccines has been weaker than anticipated. Finance that "we're crying wolf" when such headlines prompt investors to dump airline stocks, only to pick them up again once that panic subsides.
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What happened After starting the day with a gain, shares of Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), and United Airlines Holdings (NASDAQ: UAL) all ended Wednesday's trading session firmly in the red. See the 10 stocks *Stock Advisor returns as of November 10, 2021 James Brumley has no position in any of the stocks mentioned. The Motley Fool recommends Delta Air Lines.
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What happened After starting the day with a gain, shares of Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), and United Airlines Holdings (NASDAQ: UAL) all ended Wednesday's trading session firmly in the red. 10 stocks we like better than Delta Air Lines When our award-winning analyst team has a stock tip, it can pay to listen. See the 10 stocks *Stock Advisor returns as of November 10, 2021 James Brumley has no position in any of the stocks mentioned.
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What happened After starting the day with a gain, shares of Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), and United Airlines Holdings (NASDAQ: UAL) all ended Wednesday's trading session firmly in the red. So what While it's possible the coronavirus variant first identified as omicron in South Africa a week ago and detected in more than 20 countries in the meantime was already here, the variant's arrival in the U.S. is now confirmed. And of course, maybe worries of new travel bans or even just travel slowdowns are completely justified.
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3994.0
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2021-11-30 00:00:00 UTC
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Botswana's Debswana diamond sales jump 73% in first nine months of 2021
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AAL
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https://www.nasdaq.com/articles/botswanas-debswana-diamond-sales-jump-73-in-first-nine-months-of-2021
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nan
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nan
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GABORONE, Nov 30 (Reuters) - Sales of rough diamonds by Debswana Diamond Company jumped 73% in the first nine months of 2021, statistics released by the Bank of Botswana showed on Tuesday, driven by the reopening of U.S. and China's consumer markets.
Debswana, a joint venture between Anglo American AAL.L business De Beers and the Botswana government, sells 75% of its output to De Beers, with the balance taken up by state-owned Okavango Diamond Company.
Debswana sales fell by 30% in 2020 as the COVID-19 pandemic hit demand while global travel restrictions hurt trading.
Botswana closed its borders for eight months last year in an effort to curb the spread of the virus, effectively locking out foreign buyers from centres such as Mumbai, Antwerp and China, who traditionally travel to Gaborone 10 times a year to view and buy diamonds from De Beers.
Since mid-2020 De Beers has shifted some of its rough viewings to places closer to international diamond centres, such as Antwerp, to cater for customers unable to travel to Gaborone.
According to data published by the central bank, exports of diamonds from Debswana stood at $2.589 billion in the first nine months of the year compared with $1.498 billion in the same period last year.
Botswana makes about 30% of its revenue and 70% of its foreign exchange earnings from diamonds. While it has taken measures to diversify its dependence on a single commodity, diamond sales continue to be its main revenue earner.
De Beers' sales softened by 4% in the current sales period, which ended last week, as Indian manufacturers closed factories ahead of the Diwali festival, though the company said diamond jewellery demand remained strong in the United States.
(Reporting by Brian Benza Editing by Promit Mukherjee and David Goodman )
((promit.mukherjee@thomsonreuters.com; +27 64833 4448;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Debswana, a joint venture between Anglo American AAL.L business De Beers and the Botswana government, sells 75% of its output to De Beers, with the balance taken up by state-owned Okavango Diamond Company. Debswana sales fell by 30% in 2020 as the COVID-19 pandemic hit demand while global travel restrictions hurt trading. Since mid-2020 De Beers has shifted some of its rough viewings to places closer to international diamond centres, such as Antwerp, to cater for customers unable to travel to Gaborone.
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Debswana, a joint venture between Anglo American AAL.L business De Beers and the Botswana government, sells 75% of its output to De Beers, with the balance taken up by state-owned Okavango Diamond Company. GABORONE, Nov 30 (Reuters) - Sales of rough diamonds by Debswana Diamond Company jumped 73% in the first nine months of 2021, statistics released by the Bank of Botswana showed on Tuesday, driven by the reopening of U.S. and China's consumer markets. Botswana closed its borders for eight months last year in an effort to curb the spread of the virus, effectively locking out foreign buyers from centres such as Mumbai, Antwerp and China, who traditionally travel to Gaborone 10 times a year to view and buy diamonds from De Beers.
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Debswana, a joint venture between Anglo American AAL.L business De Beers and the Botswana government, sells 75% of its output to De Beers, with the balance taken up by state-owned Okavango Diamond Company. GABORONE, Nov 30 (Reuters) - Sales of rough diamonds by Debswana Diamond Company jumped 73% in the first nine months of 2021, statistics released by the Bank of Botswana showed on Tuesday, driven by the reopening of U.S. and China's consumer markets. Botswana closed its borders for eight months last year in an effort to curb the spread of the virus, effectively locking out foreign buyers from centres such as Mumbai, Antwerp and China, who traditionally travel to Gaborone 10 times a year to view and buy diamonds from De Beers.
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Debswana, a joint venture between Anglo American AAL.L business De Beers and the Botswana government, sells 75% of its output to De Beers, with the balance taken up by state-owned Okavango Diamond Company. GABORONE, Nov 30 (Reuters) - Sales of rough diamonds by Debswana Diamond Company jumped 73% in the first nine months of 2021, statistics released by the Bank of Botswana showed on Tuesday, driven by the reopening of U.S. and China's consumer markets. Botswana closed its borders for eight months last year in an effort to curb the spread of the virus, effectively locking out foreign buyers from centres such as Mumbai, Antwerp and China, who traditionally travel to Gaborone 10 times a year to view and buy diamonds from De Beers.
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3995.0
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2021-11-30 00:00:00 UTC
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US STOCKS-Wall St eyes dour open as Omicron worries grow after vaccine warning
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AAL
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https://www.nasdaq.com/articles/us-stocks-wall-st-eyes-dour-open-as-omicron-worries-grow-after-vaccine-warning
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nan
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nan
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By Devik Jain and Ambar Warrick
Nov 30 (Reuters) - Wall Street's main indexes were set to fall sharply on Tuesday after a warning from vaccine maker Moderna's chief executive on the effectiveness of COVID-19 shots against the Omicron variant hammered travel, energy and banking shares.
Global equity markets tumbled after Moderna CEO Stéphane Bancel also told the Financial Times that it was likely the current crop of vaccines would need to be modified.
Adding to the fears, Regeneron Pharmaceuticals Inc REGN.O said its COVID-19 antibody treatment and other similar drugs could be less effective against the Omicron variant.
"This new variant has caused the market's worst enemy to accelerate, and that is uncertainty," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
"I don't expect the market to collapse here, but I do expect a lot of days like we're seeing now, you go down a 1-1/2%, then rally a bit and go back down again ... one step forward and two steps back."
Occidental Petroleum OXY.N led losses among energy shares, with the company's stock down 3.5% in premarket trading, as oil prices slumped nearly 3% on demand concerns. O/R
Major Wall Street lenders sank, tracking a dip in Treasury yields as safe haven demand kept bond buying high. Bank of America BAC.N was the biggest loser among peers, down 2%. US/
American Airlines Group AAL.O fell the most among airline stocks, which were down between 1.5% and 1.9%. Cruise operators Carnival Corp CCL.N, Royal Caribbean RCL.N and Norwegian Cruise Line NCLH.N dropped about 2% each.
Futures tracking the small-cap Russell 2000 index RTYcv1 also slid 1.4%.
Wall Street's main indexes rebounded on Monday from Friday's deep sell-off, as investors were hopeful that the Omicron variant would not lead to lockdowns after reassurances from U.S. President Joe Biden.
Uncertainty about the new variant has triggered fresh alarm at a time when supply chain logjams are weighing on economic recovery and central banks globally are contemplating a return to pre-pandemic monetary policy to tackle a surge in inflation.
At 8:14 a.m. ET, Dow e-minis 1YMcv1 were down 400 points, or 1.14%, S&P 500 e-minis EScv1 were down 45 points, or 0.97%, and Nasdaq 100 e-minis NQcv1 were down 93 points, or 0.57%.
The benchmark S&P 500 .SPX and the tech-heavy Nasdaq .IXIC are down about 1.9% and 2.7%, respectively, from their record highs hit earlier this month, while the blue-chip Dow .DJI has slipped 3.9%.
Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell are due to testify before the U.S. Senate Banking Committee at 10 a.m. ET (1500 GMT) to discuss the economic recovery from the pandemic.
As part of his prepared remarks, Powell said he continues to expect inflation to recede over the next year, but warned that the new variant of COVID-19 muddies the outlook, and prices could continue to rise for longer than earlier thought.
Focus will also be on November readings of Chicago PMI and consumer confidence data due later in the day.
Bucking the trend, stay-at-home stocks, which benefited the most during the lockdown, such as Netflix Inc NFLX.O, Teladoc Health TDOC.N, Peloton Interactive PTON.O and Zoom Video Communications ZM.O rose between 0.7% and 1.7%.
(Reporting by Devik Jain and Ambar Warrick in Bengaluru; Editing by Sriraj Kalluvila and Shounak Dasgupta)
((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2062))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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US/ American Airlines Group AAL.O fell the most among airline stocks, which were down between 1.5% and 1.9%. By Devik Jain and Ambar Warrick Nov 30 (Reuters) - Wall Street's main indexes were set to fall sharply on Tuesday after a warning from vaccine maker Moderna's chief executive on the effectiveness of COVID-19 shots against the Omicron variant hammered travel, energy and banking shares. Wall Street's main indexes rebounded on Monday from Friday's deep sell-off, as investors were hopeful that the Omicron variant would not lead to lockdowns after reassurances from U.S. President Joe Biden.
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US/ American Airlines Group AAL.O fell the most among airline stocks, which were down between 1.5% and 1.9%. By Devik Jain and Ambar Warrick Nov 30 (Reuters) - Wall Street's main indexes were set to fall sharply on Tuesday after a warning from vaccine maker Moderna's chief executive on the effectiveness of COVID-19 shots against the Omicron variant hammered travel, energy and banking shares. Wall Street's main indexes rebounded on Monday from Friday's deep sell-off, as investors were hopeful that the Omicron variant would not lead to lockdowns after reassurances from U.S. President Joe Biden.
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US/ American Airlines Group AAL.O fell the most among airline stocks, which were down between 1.5% and 1.9%. By Devik Jain and Ambar Warrick Nov 30 (Reuters) - Wall Street's main indexes were set to fall sharply on Tuesday after a warning from vaccine maker Moderna's chief executive on the effectiveness of COVID-19 shots against the Omicron variant hammered travel, energy and banking shares. Wall Street's main indexes rebounded on Monday from Friday's deep sell-off, as investors were hopeful that the Omicron variant would not lead to lockdowns after reassurances from U.S. President Joe Biden.
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US/ American Airlines Group AAL.O fell the most among airline stocks, which were down between 1.5% and 1.9%. By Devik Jain and Ambar Warrick Nov 30 (Reuters) - Wall Street's main indexes were set to fall sharply on Tuesday after a warning from vaccine maker Moderna's chief executive on the effectiveness of COVID-19 shots against the Omicron variant hammered travel, energy and banking shares. Global equity markets tumbled after Moderna CEO Stéphane Bancel also told the Financial Times that it was likely the current crop of vaccines would need to be modified.
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3996.0
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2021-11-30 00:00:00 UTC
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Chile Senate advances talks over mining royalty bill
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AAL
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https://www.nasdaq.com/articles/chile-senate-advances-talks-over-mining-royalty-bill
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nan
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nan
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By Fabian Cambero
SANTIAGO, Nov 30 (Reuters) - Chile's Senate on Tuesday pushed forward discussion over a controversial bill to increase royalty payments from mining companies that operate in the world's largest copper producer, a legislation being backed by opposition lawmakers.
The Senate approved by 18 votes in favor, versus 16 against, to continue making modifications to the bill, which was previously passed by the lower Chamber of Deputies in May.
"I am voting in favor of the royalty bill and I have no doubt that in the weeks that remain where we are going to set the deadline for the presentation of amendments to improve this bill," said center-left senator Yasna Provoste.
The mining industry has strongly opposed the idea of raising the tax burden, arguing it is already at its limit, and has said the bill could push some firms out of business.
Deputies of some parties on the opposition left have proposed increasing the levy to boost tax collection, which they say is key to funding more social initiatives as the Andean country rebounds from the coronavirus pandemic.
The discussion come with the global price of the red metal near decade-long highs.
Chile's copper sector is dominated by state mining giant Codelco, along with multinational firms such as BHP BHP.AX, Anglo American AAL.L, Glencore GLEN.L, Antofagasta ANTO.L and Freeport FCX.N.
(Reporting by Fabián Andrés Cambero; Editing by Adam Jourdan and Lincoln Feast)
((adam.jourdan@thomsonreuters.com; +54 1155446882; Reuters Messaging: adam.jourdan.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Chile's copper sector is dominated by state mining giant Codelco, along with multinational firms such as BHP BHP.AX, Anglo American AAL.L, Glencore GLEN.L, Antofagasta ANTO.L and Freeport FCX.N. By Fabian Cambero SANTIAGO, Nov 30 (Reuters) - Chile's Senate on Tuesday pushed forward discussion over a controversial bill to increase royalty payments from mining companies that operate in the world's largest copper producer, a legislation being backed by opposition lawmakers. Deputies of some parties on the opposition left have proposed increasing the levy to boost tax collection, which they say is key to funding more social initiatives as the Andean country rebounds from the coronavirus pandemic.
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Chile's copper sector is dominated by state mining giant Codelco, along with multinational firms such as BHP BHP.AX, Anglo American AAL.L, Glencore GLEN.L, Antofagasta ANTO.L and Freeport FCX.N. By Fabian Cambero SANTIAGO, Nov 30 (Reuters) - Chile's Senate on Tuesday pushed forward discussion over a controversial bill to increase royalty payments from mining companies that operate in the world's largest copper producer, a legislation being backed by opposition lawmakers. "I am voting in favor of the royalty bill and I have no doubt that in the weeks that remain where we are going to set the deadline for the presentation of amendments to improve this bill," said center-left senator Yasna Provoste.
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Chile's copper sector is dominated by state mining giant Codelco, along with multinational firms such as BHP BHP.AX, Anglo American AAL.L, Glencore GLEN.L, Antofagasta ANTO.L and Freeport FCX.N. By Fabian Cambero SANTIAGO, Nov 30 (Reuters) - Chile's Senate on Tuesday pushed forward discussion over a controversial bill to increase royalty payments from mining companies that operate in the world's largest copper producer, a legislation being backed by opposition lawmakers. "I am voting in favor of the royalty bill and I have no doubt that in the weeks that remain where we are going to set the deadline for the presentation of amendments to improve this bill," said center-left senator Yasna Provoste.
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Chile's copper sector is dominated by state mining giant Codelco, along with multinational firms such as BHP BHP.AX, Anglo American AAL.L, Glencore GLEN.L, Antofagasta ANTO.L and Freeport FCX.N. By Fabian Cambero SANTIAGO, Nov 30 (Reuters) - Chile's Senate on Tuesday pushed forward discussion over a controversial bill to increase royalty payments from mining companies that operate in the world's largest copper producer, a legislation being backed by opposition lawmakers. The Senate approved by 18 votes in favor, versus 16 against, to continue making modifications to the bill, which was previously passed by the lower Chamber of Deputies in May.
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3997.0
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2021-11-30 00:00:00 UTC
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EXCLUSIVE-U.S. Senate panel invites airline CEOs to testify at Dec. 8 hearing
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AAL
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https://www.nasdaq.com/articles/exclusive-u.s.-senate-panel-invites-airline-ceos-to-testify-at-dec.-8-hearing
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nan
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nan
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By David Shepardson
WASHINGTON, Nov 30 (Reuters) - The chair of the U.S. Senate Commerce Committee, concerned about worker shortages at airlines that received billions of dollars in government assistance, has invited CEOs of seven major U.S. carriers to testify at a Dec. 8 hearing, airlines and a committee official told Reuters.
Senator Maria Cantwell, a Democrat who chairs the panel, is inviting the chief executives of American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N, United Airlines UAL.N, JetBlue Airways JBLU.O, Alaska Airlines ALK.N and Spirit Airlines SAVE.N to testify, the official added.
The airlines declined to comment or did not immediately respond to requests for comment. Reuters first reported plans for the hearing on Nov. 3 but it was not clear at the time if Cantwell would ask the CEOs to appear.
Starting in March 2020, Congress approved three separate rounds of taxpayer bailouts totaling $54 billion to cover much of U.S. airlines' payroll costs through Sept. 30 as a result of COVID-19.
The heavy U.S. Thanksgiving travel week would not have been possible without the government payroll assistance program and union-negotiated incentives, Sara Nelson, president of the Association of Flight Attendants-CWA, representing workers at 17 airlines, said Tuesday in a statement.
"We made sure aviation workers were in place to meet the return demand for air travel after access to vaccination," Nelson added.
Last month, Nelsonnoted that the airline industry "created a COVID-19 relief plan that no other industry got."
Airlines that received government assistance were not allowed to issue involuntary layoffs or cut worker pay. They also had to limit executive compensation and halt share buybacks and dividend payments.
Staffing shortages in recent months have prompted some airlines to cancel hundreds of flights at times even as they worked to boost staffing.
In July, Cantwell asked several airlines detailed questions about "workforce shortages, flight cancellations, and delays, creating havoc and frustrating consumers as more Americans resume travel."
That letter said each airline "poorly managed its marketing of flights and workforce as more people are traveling, and, at worst, it failed to meet the intent of tax payer funding and prepare for the surge in travel."
This month, Federal Aviation Administration chief Steve Dickson said difficulties with some airline operations are "due more to changes in consumer behavior" like a jump in leisure travel.
"They probably don't have as much buffer in their schedule as they had previously," he added.
A group of U.S. senators this month led by Democrat Richard Blumenthal reintroduced legislation to expand protections for air travelers aimed at ensuring "airlines provide passengers with fair compensation, refunds, and recourse in the event of airline-caused flight delays and cancellations."
(Reporting by David Shepardson Editing by Nick Zieminski and David Gregorio)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Senator Maria Cantwell, a Democrat who chairs the panel, is inviting the chief executives of American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N, United Airlines UAL.N, JetBlue Airways JBLU.O, Alaska Airlines ALK.N and Spirit Airlines SAVE.N to testify, the official added. The heavy U.S. Thanksgiving travel week would not have been possible without the government payroll assistance program and union-negotiated incentives, Sara Nelson, president of the Association of Flight Attendants-CWA, representing workers at 17 airlines, said Tuesday in a statement. In July, Cantwell asked several airlines detailed questions about "workforce shortages, flight cancellations, and delays, creating havoc and frustrating consumers as more Americans resume travel."
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Senator Maria Cantwell, a Democrat who chairs the panel, is inviting the chief executives of American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N, United Airlines UAL.N, JetBlue Airways JBLU.O, Alaska Airlines ALK.N and Spirit Airlines SAVE.N to testify, the official added. By David Shepardson WASHINGTON, Nov 30 (Reuters) - The chair of the U.S. Senate Commerce Committee, concerned about worker shortages at airlines that received billions of dollars in government assistance, has invited CEOs of seven major U.S. carriers to testify at a Dec. 8 hearing, airlines and a committee official told Reuters. In July, Cantwell asked several airlines detailed questions about "workforce shortages, flight cancellations, and delays, creating havoc and frustrating consumers as more Americans resume travel."
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Senator Maria Cantwell, a Democrat who chairs the panel, is inviting the chief executives of American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N, United Airlines UAL.N, JetBlue Airways JBLU.O, Alaska Airlines ALK.N and Spirit Airlines SAVE.N to testify, the official added. By David Shepardson WASHINGTON, Nov 30 (Reuters) - The chair of the U.S. Senate Commerce Committee, concerned about worker shortages at airlines that received billions of dollars in government assistance, has invited CEOs of seven major U.S. carriers to testify at a Dec. 8 hearing, airlines and a committee official told Reuters. A group of U.S. senators this month led by Democrat Richard Blumenthal reintroduced legislation to expand protections for air travelers aimed at ensuring "airlines provide passengers with fair compensation, refunds, and recourse in the event of airline-caused flight delays and cancellations."
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Senator Maria Cantwell, a Democrat who chairs the panel, is inviting the chief executives of American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N, United Airlines UAL.N, JetBlue Airways JBLU.O, Alaska Airlines ALK.N and Spirit Airlines SAVE.N to testify, the official added. By David Shepardson WASHINGTON, Nov 30 (Reuters) - The chair of the U.S. Senate Commerce Committee, concerned about worker shortages at airlines that received billions of dollars in government assistance, has invited CEOs of seven major U.S. carriers to testify at a Dec. 8 hearing, airlines and a committee official told Reuters. Reuters first reported plans for the hearing on Nov. 3 but it was not clear at the time if Cantwell would ask the CEOs to appear.
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3998.0
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2021-11-30 00:00:00 UTC
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US STOCKS-Futures slump on fresh Omicron worries after vaccine warning
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AAL
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https://www.nasdaq.com/articles/us-stocks-futures-slump-on-fresh-omicron-worries-after-vaccine-warning
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nan
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nan
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By Devik Jain and Ambar Warrick
Nov 30 (Reuters) - U.S. stock index futures fell sharply on Tuesday after a warning from vaccine maker Moderna's chief executive on the effectiveness of COVID-19 shots against the Omicron variant hammered travel, energy and banking shares.
Global equity markets tumbled after Stéphane Bancel also told the Financial Times that it was likely the current crop of vaccines would need to be modified.
Adding to the fears, Regeneron Pharmaceuticals Inc REGN.O said prior analyses suggested its COVID-19 antibody drug could have reduced activity against the Omicron variant.
Occidental Petroleum OXY.N led losses among energy shares, down 3.8%, as oil prices slumped more than 3% on demand concerns. O/R
Major Wall Street lenders sank more than 2%, tracking a dip in Treasury yields as safe haven demand kept bond buying high. Bank of America Corp BAC.N was the biggest loser among peers, down 2.5%. US/
American Airlines Group AAL.O fell the most among airline stocks, down between 1.3% and 3.5%. Cruise operators Carnival Corp CCL.N and Norwegian Cruise Line NCLH.N dropped about 3.8% each.
Wall Street's main indexes rebounded on Monday from Friday's deep sell-off, as investors were hopeful that the Omicron coronavirus variant would not lead to lockdowns after reassurances from U.S. President Joe Biden.
Uncertainty about the new variant has triggered fresh alarm at a time when supply chain logjams are weighing on economic recovery and global central banks are contemplating a return to pre-pandemic monetary policy to tackle a surge in inflation.
At 6:11 a.m. ET, Dow e-minis 1YMcv1 were down 458 points, or 1.31%, S&P 500 e-minis EScv1 were down 49.75 points, or 1.07%, and Nasdaq 100 e-minis NQcv1 were down 89 points, or 0.54%.
Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell are due to testify before the U.S. Senate Banking Committee at 10 a.m. EST (1500 GMT) to discuss the economic recovery from the pandemic.
In his prepared testimony, Powell said he continues to expect inflation to recede over the next year, but warned that the new strain of COVID-19 muddies the outlook, and prices could continue to rise for longer than earlier thought.
Focus will also be on November readings on Chicago PMI and consumer confidence data due later in the day.
Bucking the trend, stay-at-home stocks, which benefited the most during the lockdown, such as Netflix Inc NFLX.O, Teladoc Health TDOC.N, Peloton Interactive PTON.O and Zoom Video Communications ZM.O rose between 0.5% and 2.2%.
(Reporting by Devik Jain and Ambar Warrick in Bengaluru; Editing by Sriraj Kalluvila)
((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2062; ;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
US/ American Airlines Group AAL.O fell the most among airline stocks, down between 1.3% and 3.5%. By Devik Jain and Ambar Warrick Nov 30 (Reuters) - U.S. stock index futures fell sharply on Tuesday after a warning from vaccine maker Moderna's chief executive on the effectiveness of COVID-19 shots against the Omicron variant hammered travel, energy and banking shares. Wall Street's main indexes rebounded on Monday from Friday's deep sell-off, as investors were hopeful that the Omicron coronavirus variant would not lead to lockdowns after reassurances from U.S. President Joe Biden.
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US/ American Airlines Group AAL.O fell the most among airline stocks, down between 1.3% and 3.5%. By Devik Jain and Ambar Warrick Nov 30 (Reuters) - U.S. stock index futures fell sharply on Tuesday after a warning from vaccine maker Moderna's chief executive on the effectiveness of COVID-19 shots against the Omicron variant hammered travel, energy and banking shares. ET, Dow e-minis 1YMcv1 were down 458 points, or 1.31%, S&P 500 e-minis EScv1 were down 49.75 points, or 1.07%, and Nasdaq 100 e-minis NQcv1 were down 89 points, or 0.54%.
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US/ American Airlines Group AAL.O fell the most among airline stocks, down between 1.3% and 3.5%. By Devik Jain and Ambar Warrick Nov 30 (Reuters) - U.S. stock index futures fell sharply on Tuesday after a warning from vaccine maker Moderna's chief executive on the effectiveness of COVID-19 shots against the Omicron variant hammered travel, energy and banking shares. Uncertainty about the new variant has triggered fresh alarm at a time when supply chain logjams are weighing on economic recovery and global central banks are contemplating a return to pre-pandemic monetary policy to tackle a surge in inflation.
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US/ American Airlines Group AAL.O fell the most among airline stocks, down between 1.3% and 3.5%. By Devik Jain and Ambar Warrick Nov 30 (Reuters) - U.S. stock index futures fell sharply on Tuesday after a warning from vaccine maker Moderna's chief executive on the effectiveness of COVID-19 shots against the Omicron variant hammered travel, energy and banking shares. Global equity markets tumbled after Stéphane Bancel also told the Financial Times that it was likely the current crop of vaccines would need to be modified.
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3999.0
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2021-11-30 00:00:00 UTC
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EXCLUSIVE-U.S. Senate panel inviting airline CEOs to testify at Dec. 8 hearing
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AAL
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https://www.nasdaq.com/articles/exclusive-u.s.-senate-panel-inviting-airline-ceos-to-testify-at-dec.-8-hearing
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nan
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nan
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WASHINGTON, Nov 30 (Reuters) - The chair of the U.S. Senate Commerce Committee is inviting the chief executives of seven major U.S. airlines to testify at a Dec. 8 oversight hearing after she asked major carriers in July to explain worker shortages despite receiving billions in pandemic bailout, a committee official told Reuters.
Senator Maria Cantwell, a Democrat who chairs the panel, is inviting the CEOs of American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N, United Airlines UAL.N, JetBlue Airways JBLU.O, Alaska Airlines ALK.N and Spirit Airlines SAVE.N to testify, the official added.
(Reporting by David Shepardson)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Senator Maria Cantwell, a Democrat who chairs the panel, is inviting the CEOs of American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N, United Airlines UAL.N, JetBlue Airways JBLU.O, Alaska Airlines ALK.N and Spirit Airlines SAVE.N to testify, the official added. WASHINGTON, Nov 30 (Reuters) - The chair of the U.S. Senate Commerce Committee is inviting the chief executives of seven major U.S. airlines to testify at a Dec. 8 oversight hearing after she asked major carriers in July to explain worker shortages despite receiving billions in pandemic bailout, a committee official told Reuters. (Reporting by David Shepardson) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Senator Maria Cantwell, a Democrat who chairs the panel, is inviting the CEOs of American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N, United Airlines UAL.N, JetBlue Airways JBLU.O, Alaska Airlines ALK.N and Spirit Airlines SAVE.N to testify, the official added. WASHINGTON, Nov 30 (Reuters) - The chair of the U.S. Senate Commerce Committee is inviting the chief executives of seven major U.S. airlines to testify at a Dec. 8 oversight hearing after she asked major carriers in July to explain worker shortages despite receiving billions in pandemic bailout, a committee official told Reuters. (Reporting by David Shepardson) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Senator Maria Cantwell, a Democrat who chairs the panel, is inviting the CEOs of American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N, United Airlines UAL.N, JetBlue Airways JBLU.O, Alaska Airlines ALK.N and Spirit Airlines SAVE.N to testify, the official added. WASHINGTON, Nov 30 (Reuters) - The chair of the U.S. Senate Commerce Committee is inviting the chief executives of seven major U.S. airlines to testify at a Dec. 8 oversight hearing after she asked major carriers in July to explain worker shortages despite receiving billions in pandemic bailout, a committee official told Reuters. (Reporting by David Shepardson) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Senator Maria Cantwell, a Democrat who chairs the panel, is inviting the CEOs of American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N, United Airlines UAL.N, JetBlue Airways JBLU.O, Alaska Airlines ALK.N and Spirit Airlines SAVE.N to testify, the official added. WASHINGTON, Nov 30 (Reuters) - The chair of the U.S. Senate Commerce Committee is inviting the chief executives of seven major U.S. airlines to testify at a Dec. 8 oversight hearing after she asked major carriers in July to explain worker shortages despite receiving billions in pandemic bailout, a committee official told Reuters. (Reporting by David Shepardson) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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