Unnamed: 0
stringlengths 3
8
| Date
stringlengths 23
23
| Article_title
stringlengths 1
250
| Stock_symbol
stringlengths 1
5
| Url
stringlengths 44
135
| Publisher
stringclasses 1
value | Author
stringclasses 1
value | Article
stringlengths 1
343k
| Lsa_summary
stringlengths 3
53.9k
| Luhn_summary
stringlengths 1
53.9k
| Textrank_summary
stringlengths 1
53.9k
| Lexrank_summary
stringlengths 1
53.9k
|
|---|---|---|---|---|---|---|---|---|---|---|---|
4100.0
|
2021-10-21 00:00:00 UTC
|
Miners, weak earnings drag European stocks lower
|
AAL
|
https://www.nasdaq.com/articles/miners-weak-earnings-drag-european-stocks-lower-2021-10-21
|
nan
|
nan
|
By Anisha Sircar
Oct 21 (Reuters) - European stocks retreated from six-week highs on Thursday, with miners leading the declines on renewed concerns about China's property sector, while mixed quarterly updates from companies dampened risk appetite.
The Europe-wide STOXX 600 index .STOXX fell 0.2% due to a dour mood in global markets following the collapse of a $2.6 billion asset sale at indebted developer China Evergrande Group.
European miners .SXPP, which have a large exposure to China .SXPP, shed 2.5%. UK-listed shares of Anglo American AAL.L fell 3.7% even though it reported a 2% rise in overall production in the third quarter.
Worries about China's plan to bring down coal prices hit high-flying metal prices on Wednesday.
"China's macro cycle has troughed, but growth remains subdued," said Andreas Bruckner, Bank of America's European equity strategist, who earlier this month set a year-end target of 420 for the STOXX 600, implying a fall of about 10% from current levels.
"The downside risks relative to our projections are increasing, given the potential additional drag from supply-chain disruptions, energy shortages in Europe and China, the intensifying debt crisis in China's property sector, and the risk of a central bank policy mistake."
Swiss engineering and tech group ABB ABBN.S tumbled nearly 6% after it lowered its full-year sales forecast and warned of shortages of components, while Sweden's AB Volvo VOLVb.ST fell about 0.8% after it said chip shortages hampered production of its trucks.
There was no relief for banking stocks .SX7P either. The sector fell 0.9% even though UK's Barclays BARC.L and Finland's Nordea NDASE.ST reported upbeat quarterly results.
Defensive sectors lent support to European bourses as personal and household goods index .SXQP rose 0.7% on the back of Unilever's ULVR.L third-quarter earnings beat.
Luxury stocks were also higher after Birkin bag maker Hermes HRMS.PA rose 0.8% on strong quarterly sales.
Cartier-owner Richemont CFR.S advanced 0.4% after HSBC HSBA.L raised the brand to "buy" from "hold", citing its leadership and momentum in the jewellery industry.
(Reporting by Anisha Sircar and Sruthi Shankar in Bengaluru; editing by Uttaresh.V and Anil D'Silva)
((Anisha.Sircar@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.
|
UK-listed shares of Anglo American AAL.L fell 3.7% even though it reported a 2% rise in overall production in the third quarter. By Anisha Sircar Oct 21 (Reuters) - European stocks retreated from six-week highs on Thursday, with miners leading the declines on renewed concerns about China's property sector, while mixed quarterly updates from companies dampened risk appetite. The Europe-wide STOXX 600 index .STOXX fell 0.2% due to a dour mood in global markets following the collapse of a $2.6 billion asset sale at indebted developer China Evergrande Group.
|
UK-listed shares of Anglo American AAL.L fell 3.7% even though it reported a 2% rise in overall production in the third quarter. By Anisha Sircar Oct 21 (Reuters) - European stocks retreated from six-week highs on Thursday, with miners leading the declines on renewed concerns about China's property sector, while mixed quarterly updates from companies dampened risk appetite. The Europe-wide STOXX 600 index .STOXX fell 0.2% due to a dour mood in global markets following the collapse of a $2.6 billion asset sale at indebted developer China Evergrande Group.
|
UK-listed shares of Anglo American AAL.L fell 3.7% even though it reported a 2% rise in overall production in the third quarter. By Anisha Sircar Oct 21 (Reuters) - European stocks retreated from six-week highs on Thursday, with miners leading the declines on renewed concerns about China's property sector, while mixed quarterly updates from companies dampened risk appetite. "China's macro cycle has troughed, but growth remains subdued," said Andreas Bruckner, Bank of America's European equity strategist, who earlier this month set a year-end target of 420 for the STOXX 600, implying a fall of about 10% from current levels.
|
UK-listed shares of Anglo American AAL.L fell 3.7% even though it reported a 2% rise in overall production in the third quarter. By Anisha Sircar Oct 21 (Reuters) - European stocks retreated from six-week highs on Thursday, with miners leading the declines on renewed concerns about China's property sector, while mixed quarterly updates from companies dampened risk appetite. The Europe-wide STOXX 600 index .STOXX fell 0.2% due to a dour mood in global markets following the collapse of a $2.6 billion asset sale at indebted developer China Evergrande Group.
|
4101.0
|
2021-10-21 00:00:00 UTC
|
American Airlines Stock To Tread Water?
|
AAL
|
https://www.nasdaq.com/articles/american-airlines-stock-to-tread-water-2021-10-21
|
nan
|
nan
|
As the world economy recovers from pandemic blues, rising transportation demand is putting pressure on crude oil inventories. Thus, high benchmark prices are expected to weigh on the airline industry’s bottom line for a couple of quarters. In the previous quarter, American Airlines (NASDAQ: AAL) highlighted a strategic plan to reduce $15 billion of long-term debt by the end of 2025. The company plans to achieve this target by utilizing cash from operations. Considering AAL’s pre-Covid operating cash flow figure of $3.8 billion, it requires sizable margin improvement to achieve the deleveraging target in the current high fuel cost and uncertain demand environment. We highlight analyst expectations for Q3 2021 along with quarterly trends in revenues, earnings, and stock price in an interactive dashboard analysis, American Airlines Earnings Preview.
[Updated 10/12/2021] – Is American Airlines Stock A Buy After Recent Dip?
As new infections decline, travel and entertainment stocks observe an uptick on anticipation of quick demand recovery in the coming months. However, airline stocks have been on a decline in the past week including American Airlines (NASDAQ: AAL) over concerns of rising operational costs majorly due to high benchmark prices. Despite strong domestic travel demand, AAL stock is likely to trade sideways in the coming month as indicated in our interactive dashboard, American Airlines Stock Price Forecast. The company plans to repay debt from excess operating cash in the next few years, but cost pressure is a headwind to the strategic plan. Currently, AAL’s net debt of $20 billion is sizably higher than its $13 billion market capitalization, as interest expense weighs on shareholder returns.
MACHINE LEARNING ENGINE – try it yourself:
IF AAL stock moved by -5% over five trading days, THEN over the next twenty-one trading days, AAL stock moves an average of 1.3 percent, with a 52.6% probability of a positive return over this period.
Some Fun Scenarios, FAQs & Making Sense of American Airlines Stock Movements:
Q1: Is the price forecast for American Airlines stock higher after a drop?
Answer:
Answer:
Consider two situations,
Case 1: American Airlines stock drops by -5% or more in a week
Case 2: American Airlines stock rises by 5% or more in a week
Is the price forecast for American Airlines stock higher over the subsequent month after Case 1 or Case 2?
AAL stock fares better after Case 1, with an expected return of 1.2% over the next month (21 trading days) under Case 1 (where the stock has just suffered a 5% loss over the previous week), versus, an expected return of 0.2% for Case 2. This implies a price forecast of $20.32 in Case 1 and a figure of $20.10 in Case 2 using AAL market price of $20.07 on 10/11/2021.
In comparison, the S&P 500 has an expected return of 3.1% over the next 21 trading days under Case 1, and an expected return of just 0.5% for Case 2 as detailed in our dashboard that details the expected return for the S&P 500 after a rise or drop.
Try the Trefis machine learning engine above to see for yourself how the forecast for American Airlines stock is likely to changes after any specific gain or loss over a period.
Question 2: Does patience pay?
Answer:
If you buy and hold American Airlines stock, the expectation is over time the near-term fluctuations will cancel out, and the long-term positive trend will favor you – at least if the company is otherwise strong.
Overall, according to data and Trefis machine learning engine’s calculations, patience absolutely pays for most stocks!
For AAL stock, the returns over the next N days after a -5% change over the last five trading days is detailed in the table below, along with the returns for the S&P500:
You can try the engine to see what this table looks like for American Airlines after a larger loss over the last week, month, or quarter.
Question 3: What about the average return after a rise if you wait for a while?
Answer:
The expected return after a rise is understandably lower than after a drop as detailed in Q1. Interestingly, though, if a stock has gained over the last few days, you would do better to avoid short-term bets for most stocks.
AAL stock returns over the next N days after a 5% change over the last five trading days is detailed in the table below, along with the returns for the S&P500:
It’s pretty powerful to test the trend for yourself for American Airlines stock by changing the inputs in the charts above.
What if you’re looking for a more balanced portfolio instead? Here’s a high-quality portfolio that’s beaten the market consistently since 2016.
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.
|
In the previous quarter, American Airlines (NASDAQ: AAL) highlighted a strategic plan to reduce $15 billion of long-term debt by the end of 2025. Considering AAL’s pre-Covid operating cash flow figure of $3.8 billion, it requires sizable margin improvement to achieve the deleveraging target in the current high fuel cost and uncertain demand environment. However, airline stocks have been on a decline in the past week including American Airlines (NASDAQ: AAL) over concerns of rising operational costs majorly due to high benchmark prices.
|
In the previous quarter, American Airlines (NASDAQ: AAL) highlighted a strategic plan to reduce $15 billion of long-term debt by the end of 2025. Despite strong domestic travel demand, AAL stock is likely to trade sideways in the coming month as indicated in our interactive dashboard, American Airlines Stock Price Forecast. Considering AAL’s pre-Covid operating cash flow figure of $3.8 billion, it requires sizable margin improvement to achieve the deleveraging target in the current high fuel cost and uncertain demand environment.
|
AAL stock fares better after Case 1, with an expected return of 1.2% over the next month (21 trading days) under Case 1 (where the stock has just suffered a 5% loss over the previous week), versus, an expected return of 0.2% for Case 2. AAL stock returns over the next N days after a 5% change over the last five trading days is detailed in the table below, along with the returns for the S&P500: It’s pretty powerful to test the trend for yourself for American Airlines stock by changing the inputs in the charts above. In the previous quarter, American Airlines (NASDAQ: AAL) highlighted a strategic plan to reduce $15 billion of long-term debt by the end of 2025.
|
Despite strong domestic travel demand, AAL stock is likely to trade sideways in the coming month as indicated in our interactive dashboard, American Airlines Stock Price Forecast. In the previous quarter, American Airlines (NASDAQ: AAL) highlighted a strategic plan to reduce $15 billion of long-term debt by the end of 2025. Considering AAL’s pre-Covid operating cash flow figure of $3.8 billion, it requires sizable margin improvement to achieve the deleveraging target in the current high fuel cost and uncertain demand environment.
|
4102.0
|
2021-10-21 00:00:00 UTC
|
Alaska Air Group Stock Poised For Long-Term Gains?
|
AAL
|
https://www.nasdaq.com/articles/alaska-air-group-stock-poised-for-long-term-gains-2021-10-21
|
nan
|
nan
|
The shares of Alaska Air Group (NYSE: ALK) have lost 8% in value over the past two weeks largely due to concerns of high operational costs from pent-up benchmark prices. Government aid supported payroll related expenses, even in the third quarter, shielding against the negative impact of the fourth wave of the pandemic. The company reported just $234 million operating cash outflow last year and generated $1 billion in H1 2021. Given the expectation of lower benchmark prices by EIA in the coming quarters and Alaska Air Group’s strong balance sheet, Trefis believes that the stock provides an opportunity for long-term gains. We highlight the quarterly trends in revenues, earnings, stock price, and expectations for Q3 2021 in an interactive dashboard analysis, Alaska Air Group Earnings Preview.
How did Alaska Air Group perform in the second quarter?
In Q2, Alaska Air Group reported a 33% (y-o-y) contraction in net revenues and a 21% (y-o-y) reduction in capacity (available seat miles). The company reported $397 million of net income and $840 million of operating cash – assisting $527 million of capital spending and $363 million of debt retirements. On the operational side, the occupancy rate jumped to 77% propelled by strong domestic demand and efficient capacity utilization. While the third quarter results are impacted by the fourth wave of the pandemic, rising transportation demand in the coming quarters is expected to push travel and entertainment stocks higher.
[Updated 06/08/2021] – Is There Near-Term Downside In Alaska Airlines Stock?
In recent months, progress in mass vaccination and growing passenger numbers at TSA checkpoints have been a boon for the airline industry. However, new coronavirus variants are triggering fears of more infection waves limiting international travel and tourism demand. The shares of Alaska Airlines (NYSE: ALK) have reached pre-Covid levels unlike American, United, and Delta Air Lines. This can be largely attributed to the company’s lower debt outstanding and higher operating margin. The U.S. government initiated a third phase of payroll support in the first quarter as huge salary costs could trigger involuntary furloughs. Notably, the PSP-3 requires airlines to suspend dividends and share repurchases until September 2022. According to the Trefis Machine Learning Engine, which identifies trends in the company’s historical stock price data, Alaska Airlines stock is likely to move 4.6% in the next one-month (twenty-one trading days) period after experiencing -6% drop in the past week (five trading days).
But how would these numbers change if you are interested in holding Alaska Airlines stock for a shorter or a longer time period? You can test the answer and many other combinations on the Trefis Machine Learning Engine to test Alaska Airlines stock chances of a rise after a fall. You can test the chance of recovery over different time intervals of a quarter, month, or even just one day!
MACHINE LEARNING ENGINE – try it yourself:
IF ALK stock moved by -5% over 5 trading days, THEN over the next twenty-one trading days, ALK stock moves an average of 4.6 percent, which implies an excess return of 2.4 percent compared to the S&P 500.
There is 69% probability of a positive return over the next twenty-one trading days and 62% probability of a positive excess return.
Some Fun Scenarios, FAQs & Making Sense of Alaska Airlines Stock Movements:
Question 1: Is the average return for Alaska Airlines stock higher after a drop?
Answer:
Consider two situations,
Case 1: Alaska Airlines stock drops by -5% or more in a week
Case 2: Alaska Airlines stock rises by 5% or more in a week
Is the average return for Alaska Airlines stock higher over the subsequent month after Case 1 or Case 2?
ALK stock fares better after Case 1, with an average return of 4.6% over the next month (21 trading days) under Case 1 (where the stock has just suffered a 5% loss over the previous week), versus, an average return of 2.6% for Case 2.
In comparison, the S&P 500 has an average return of 3.1% over the next 21 trading days under Case 1, and an average return of just 0.5% for Case 2 as detailed in our dashboard that details the average return for the S&P 500 after a fall or rise.
Try the Trefis machine learning engine above to see for yourself how Alaska Airlines stock is likely to behave after any specific gain or loss over a period.
Question 2: Does patience pay?
Answer:
If you buy and hold Alaska Airlines stock, the expectation is over time the near term fluctuations will cancel out, and the long-term positive trend will favor you – at least if the company is otherwise strong.
Overall, according to data and Trefis machine learning engine’s calculations, patience absolutely pays for most stocks!
For ALK stock, the returns over the next N days after a -5% change over the last 5 trading days is detailed in the table below, along with the returns for the S&P500:
Question 3: What about the average return after a rise if you wait for a while?
Answer:
The average return after a rise is understandably lower than after a fall as detailed in the previous question. Interestingly, though, if a stock has gained over the last few days, you would do better to avoid short-term bets for most stocks – although ALK stock appears to be an exception to this general observation.
ALK’s returns over the next N days after a 5% change over the last 5 trading days is detailed in the table below, along with the returns for the S&P500:
It’s pretty powerful to test the trend for yourself for Alaska Airlines stock by changing the inputs in the charts above.
What if you’re looking for a more balanced portfolio instead? Here’s a high-quality portfolio that’s beaten the market consistently since 2016.
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.
|
The shares of Alaska Air Group (NYSE: ALK) have lost 8% in value over the past two weeks largely due to concerns of high operational costs from pent-up benchmark prices. Given the expectation of lower benchmark prices by EIA in the coming quarters and Alaska Air Group’s strong balance sheet, Trefis believes that the stock provides an opportunity for long-term gains. Answer: If you buy and hold Alaska Airlines stock, the expectation is over time the near term fluctuations will cancel out, and the long-term positive trend will favor you – at least if the company is otherwise strong.
|
According to the Trefis Machine Learning Engine, which identifies trends in the company’s historical stock price data, Alaska Airlines stock is likely to move 4.6% in the next one-month (twenty-one trading days) period after experiencing -6% drop in the past week (five trading days). You can test the answer and many other combinations on the Trefis Machine Learning Engine to test Alaska Airlines stock chances of a rise after a fall. MACHINE LEARNING ENGINE – try it yourself: IF ALK stock moved by -5% over 5 trading days, THEN over the next twenty-one trading days, ALK stock moves an average of 4.6 percent, which implies an excess return of 2.4 percent compared to the S&P 500.
|
According to the Trefis Machine Learning Engine, which identifies trends in the company’s historical stock price data, Alaska Airlines stock is likely to move 4.6% in the next one-month (twenty-one trading days) period after experiencing -6% drop in the past week (five trading days). Some Fun Scenarios, FAQs & Making Sense of Alaska Airlines Stock Movements: Question 1: Is the average return for Alaska Airlines stock higher after a drop? Answer: Consider two situations, Case 1: Alaska Airlines stock drops by -5% or more in a week Case 2: Alaska Airlines stock rises by 5% or more in a week Is the average return for Alaska Airlines stock higher over the subsequent month after Case 1 or Case 2?
|
Given the expectation of lower benchmark prices by EIA in the coming quarters and Alaska Air Group’s strong balance sheet, Trefis believes that the stock provides an opportunity for long-term gains. According to the Trefis Machine Learning Engine, which identifies trends in the company’s historical stock price data, Alaska Airlines stock is likely to move 4.6% in the next one-month (twenty-one trading days) period after experiencing -6% drop in the past week (five trading days). But how would these numbers change if you are interested in holding Alaska Airlines stock for a shorter or a longer time period?
|
4103.0
|
2021-10-21 00:00:00 UTC
|
MORNING BID-Back to the blues
|
AAL
|
https://www.nasdaq.com/articles/morning-bid-back-to-the-blues-2021-10-21
|
nan
|
nan
|
LONDON, Oct 21 (Reuters) - A look at the day ahead from Karin Strohecker.
Markets are in a somber mood on Thursday.
There is little let up on the Chinese property sector front with investors wondering how much damage the Chinese economy might suffer from a potential default of embattled property giant China Evergrande Group 3333.HK - now possibly just days away.
Evergrande shares suffered a double-digit tumble after it scrapped a deal to sell a stake in its property group, though it also secured an extension on a defaulted bond, according to media reports.
Adding to the woes is resurgence of COVID-19 and ensuing curbs. Russia is suffering record deaths and has reported some COVID-19 infections with a new coronavirus variant believed to be even more contagious than the Delta one.
Poland is facing an explosion of cases that may require drastic action, according to its health minister, while Latvia starts its lockdown today until mid-November to slow a spike in infections.
Futures point to more pain ahead for U.S. stocks NQc1, ESc1 later in the day.
But a batch of fresh earnings results might sooth some frayed nerves.
Unilever UNc.S and Hermes HRMS.PA sales beat estimates, Truck maker Volvo [RIC:RIC:VOLVO.UL] profit beats forecast, but companies do flag lingering chip woes.
Barclays BARC.L Q3 beats expectations on strong investment bank performance, while Anglo American AAL.L Q3 production inches higher.
Earnings highlights in the U.S. to come today are Intel INTC.O, AT&T T and Danaher DHR.
In emerging markets, Turkey's central bank will take centre stage. Policy makers are expected to deliver another interest rate cut despite stubbornly high inflation after President Tayyip Erdogan's midnight reshuffle of the monetary policy committee.
Key developments that should provide more direction to markets on Thursday:
-EU starts two day summit
-NATO defense ministers meet
-U.S. initial jobless claims/Philly Fed index/existing home sales
-U.S. 5-year TIPS auction
-Fed speakers: San Francisco President Mary Daly
-Emerging markets: Turkey, Ukraine central banks
-U.S. earnings: AT&T, Blackstone, Dow, American airlines, Southwest airlines, Alaska Air, Intel Whirlpool Mattell
(Reporting by Karin Strohecker)
((karin.strohecker@thomsonreuters.com; +442075427262; Reuters Messaging: karin.strohecker.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.
|
Barclays BARC.L Q3 beats expectations on strong investment bank performance, while Anglo American AAL.L Q3 production inches higher. Evergrande shares suffered a double-digit tumble after it scrapped a deal to sell a stake in its property group, though it also secured an extension on a defaulted bond, according to media reports. Poland is facing an explosion of cases that may require drastic action, according to its health minister, while Latvia starts its lockdown today until mid-November to slow a spike in infections.
|
Barclays BARC.L Q3 beats expectations on strong investment bank performance, while Anglo American AAL.L Q3 production inches higher. Unilever UNc.S and Hermes HRMS.PA sales beat estimates, Truck maker Volvo [RIC:RIC:VOLVO.UL] profit beats forecast, but companies do flag lingering chip woes. In emerging markets, Turkey's central bank will take centre stage.
|
Barclays BARC.L Q3 beats expectations on strong investment bank performance, while Anglo American AAL.L Q3 production inches higher. There is little let up on the Chinese property sector front with investors wondering how much damage the Chinese economy might suffer from a potential default of embattled property giant China Evergrande Group 3333.HK - now possibly just days away. Unilever UNc.S and Hermes HRMS.PA sales beat estimates, Truck maker Volvo [RIC:RIC:VOLVO.UL] profit beats forecast, but companies do flag lingering chip woes.
|
Barclays BARC.L Q3 beats expectations on strong investment bank performance, while Anglo American AAL.L Q3 production inches higher. LONDON, Oct 21 (Reuters) - A look at the day ahead from Karin Strohecker. There is little let up on the Chinese property sector front with investors wondering how much damage the Chinese economy might suffer from a potential default of embattled property giant China Evergrande Group 3333.HK - now possibly just days away.
|
4104.0
|
2021-10-21 00:00:00 UTC
|
Anglo American's Q3 production inches 2% higher
|
AAL
|
https://www.nasdaq.com/articles/anglo-americans-q3-production-inches-2-higher-2021-10-21
|
nan
|
nan
|
LONDON, Oct 21 (Reuters) - Global miner Anglo American AAL.L said on Thursday its overall production rose by 2% in the third quarter, driven by diamonds and iron ore, while copper output fell by 6%.
In the three months to September, rough diamond production rose by 28% from a year earlier as consumer demand recovered in major markets including the United States and China.
Iron ore production rose by 15% on increased output from Brazil's Minas-Rio and South Africa's Kumba mine.
Planned maintenance work at its Collahuasi mine affected copper production in Chile in the third quarter. Year-to-date copper production is up 1%, Anglo said in a release.
(Reporting by Clara Denina; editing by Jason Neely)
((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.
|
LONDON, Oct 21 (Reuters) - Global miner Anglo American AAL.L said on Thursday its overall production rose by 2% in the third quarter, driven by diamonds and iron ore, while copper output fell by 6%. In the three months to September, rough diamond production rose by 28% from a year earlier as consumer demand recovered in major markets including the United States and China. Iron ore production rose by 15% on increased output from Brazil's Minas-Rio and South Africa's Kumba mine.
|
LONDON, Oct 21 (Reuters) - Global miner Anglo American AAL.L said on Thursday its overall production rose by 2% in the third quarter, driven by diamonds and iron ore, while copper output fell by 6%. In the three months to September, rough diamond production rose by 28% from a year earlier as consumer demand recovered in major markets including the United States and China. Iron ore production rose by 15% on increased output from Brazil's Minas-Rio and South Africa's Kumba mine.
|
LONDON, Oct 21 (Reuters) - Global miner Anglo American AAL.L said on Thursday its overall production rose by 2% in the third quarter, driven by diamonds and iron ore, while copper output fell by 6%. Iron ore production rose by 15% on increased output from Brazil's Minas-Rio and South Africa's Kumba mine. (Reporting by Clara Denina; editing by Jason Neely) ((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.
|
LONDON, Oct 21 (Reuters) - Global miner Anglo American AAL.L said on Thursday its overall production rose by 2% in the third quarter, driven by diamonds and iron ore, while copper output fell by 6%. In the three months to September, rough diamond production rose by 28% from a year earlier as consumer demand recovered in major markets including the United States and China. Iron ore production rose by 15% on increased output from Brazil's Minas-Rio and South Africa's Kumba mine.
|
4105.0
|
2021-10-21 00:00:00 UTC
|
American Airlines Group Inc Q3 adjusted earnings Beat Estimates
|
AAL
|
https://www.nasdaq.com/articles/american-airlines-group-inc-q3-adjusted-earnings-beat-estimates-2021-10-21
|
nan
|
nan
|
(RTTNews) - Below are the earnings highlights for American Airlines Group Inc (AAL):
-Earnings: $0.17 billion in Q3 vs. -$2.40 billion in the same period last year. -EPS: $0.25 in Q3 vs. -$4.71 in the same period last year. -Excluding items, American Airlines Group Inc reported adjusted earnings of -$0.64 billion or -$0.99 per share for the period. -Analysts projected -$1.04 per share -Revenue: $8.97 billion in Q3 vs. $3.17 billion in the same period last year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
(RTTNews) - Below are the earnings highlights for American Airlines Group Inc (AAL): -Earnings: $0.17 billion in Q3 vs. -$2.40 billion in the same period last year. -Excluding items, American Airlines Group Inc reported adjusted earnings of -$0.64 billion or -$0.99 per share for the period. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
(RTTNews) - Below are the earnings highlights for American Airlines Group Inc (AAL): -Earnings: $0.17 billion in Q3 vs. -$2.40 billion in the same period last year. -Excluding items, American Airlines Group Inc reported adjusted earnings of -$0.64 billion or -$0.99 per share for the period. -Analysts projected -$1.04 per share -Revenue: $8.97 billion in Q3 vs. $3.17 billion in the same period last year.
|
(RTTNews) - Below are the earnings highlights for American Airlines Group Inc (AAL): -Earnings: $0.17 billion in Q3 vs. -$2.40 billion in the same period last year. -Analysts projected -$1.04 per share -Revenue: $8.97 billion in Q3 vs. $3.17 billion in the same period last year. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
(RTTNews) - Below are the earnings highlights for American Airlines Group Inc (AAL): -Earnings: $0.17 billion in Q3 vs. -$2.40 billion in the same period last year. -Analysts projected -$1.04 per share -Revenue: $8.97 billion in Q3 vs. $3.17 billion in the same period last year. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
4106.0
|
2021-10-20 00:00:00 UTC
|
Wednesday's ETF with Unusual Volume: XTN
|
AAL
|
https://www.nasdaq.com/articles/wednesdays-etf-with-unusual-volume%3A-xtn-2021-10-20
|
nan
|
nan
|
The SPDR— S&P— Transportation ETF is seeing unusually high volume in afternoon trading Wednesday, with over 1.6 million shares traded versus three month average volume of about 70,000. Shares of XTN were up about 0.7% on the day.
Components of that ETF with the highest volume on Wednesday were American Airlines Group, trading up about 0.3% with over 20.8 million shares changing hands so far this session, and United Airlines Holdings, off about 0.1% on volume of over 13.9 million shares. Knight-swift Transportation Holdings is the component faring the best Wednesday, up by about 6% on the day, while Tusimple Holdings is lagging other components of the SPDR— S&P— Transportation ETF, trading lower by about 4.4%.
VIDEO: Wednesday's ETF with Unusual Volume: XTN
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
The SPDR— S&P— Transportation ETF is seeing unusually high volume in afternoon trading Wednesday, with over 1.6 million shares traded versus three month average volume of about 70,000. Components of that ETF with the highest volume on Wednesday were American Airlines Group, trading up about 0.3% with over 20.8 million shares changing hands so far this session, and United Airlines Holdings, off about 0.1% on volume of over 13.9 million shares. Knight-swift Transportation Holdings is the component faring the best Wednesday, up by about 6% on the day, while Tusimple Holdings is lagging other components of the SPDR— S&P— Transportation ETF, trading lower by about 4.4%.
|
The SPDR— S&P— Transportation ETF is seeing unusually high volume in afternoon trading Wednesday, with over 1.6 million shares traded versus three month average volume of about 70,000. Knight-swift Transportation Holdings is the component faring the best Wednesday, up by about 6% on the day, while Tusimple Holdings is lagging other components of the SPDR— S&P— Transportation ETF, trading lower by about 4.4%. VIDEO: Wednesday's ETF with Unusual Volume: XTN The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
The SPDR— S&P— Transportation ETF is seeing unusually high volume in afternoon trading Wednesday, with over 1.6 million shares traded versus three month average volume of about 70,000. Components of that ETF with the highest volume on Wednesday were American Airlines Group, trading up about 0.3% with over 20.8 million shares changing hands so far this session, and United Airlines Holdings, off about 0.1% on volume of over 13.9 million shares. Knight-swift Transportation Holdings is the component faring the best Wednesday, up by about 6% on the day, while Tusimple Holdings is lagging other components of the SPDR— S&P— Transportation ETF, trading lower by about 4.4%.
|
Components of that ETF with the highest volume on Wednesday were American Airlines Group, trading up about 0.3% with over 20.8 million shares changing hands so far this session, and United Airlines Holdings, off about 0.1% on volume of over 13.9 million shares. Knight-swift Transportation Holdings is the component faring the best Wednesday, up by about 6% on the day, while Tusimple Holdings is lagging other components of the SPDR— S&P— Transportation ETF, trading lower by about 4.4%. VIDEO: Wednesday's ETF with Unusual Volume: XTN The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
4107.0
|
2021-10-20 00:00:00 UTC
|
Do Long-Term Trends Favor United Airlines Stock?
|
AAL
|
https://www.nasdaq.com/articles/do-long-term-trends-favor-united-airlines-stock-2021-10-20
|
nan
|
nan
|
[Updated 10/18/2021]
The ongoing decline in new infections coupled with strong domestic travel demand has been pushing hotel industry stocks higher. However, the airline sector including United Airlines (NASDAQ: UAL), continues to underperform broader markets over concerns of a near-term dip in bookings. In June, United Airlines announced a 270-plane order to increase domestic capacity by 30%. While dividend payouts and share buybacks remain suspended until September 2022, the airline industry seems to be beating estimates of complete demand recovery earlier than 2023. Thus, Trefis believes that United Airlines stock is poised for long-term gains. We highlight the quarterly trends in revenues, earnings, stock price, and expectations for Q3 2021 in an interactive dashboard analysis, United Airlines Earnings Preview.
[Updated 9/14/2021] – United Airlines Stock: Should You Buy The Dip?
The shares of United Airlines (NASDAQ: UAL) have trended downward due to fears of low air travel demand in the fourth quarter. While the ongoing surge in coronavirus cases due to the delta variant is likely to cause near-term uncertainty, long-term trends look favorable for the stock. As highlighted in our earlier article, United Airlines’ 270 plane order is likely to assist in revenue and margin expansion. Interestingly, the third round of payroll support will support employee salaries through September 30, and passenger numbers at TSA checkpoints have not observed a sharp decline. Also, air travel demand surged during the second quarter as restriction measures were eased – pinning hopes for a similar trajectory after the current surge. Trefis highlights the key factors driving United Airlines’ Valuation including revenues, margins, valuation multiple, and competitive comparison with peers in an interactive dashboard analysis.
[Updated 07/13/2021] – United Airlines’ Aircraft Order To Assist Long-Term Revenue Growth
In a recent move, United Airlines (NASDAQ: UAL) announced a 270-plane order of Boeing 737 Max and Airbus A320s to replace its older regional and mainline aircraft. The new fleet will be 11% more energy efficient and lower carbon emission per seat by 15-20%. Along with better customer experience and a spacious cabin, the company is adding newer destinations and more aircraft options between various U.S. cities. Per Boeing’s commercial market outlook, the passenger air travel market is expected to grow at a single-digit rate in the next twenty years with new orders mainly driven by aircraft replacements. Apart from the earlier provided guidance of complete revenue and EBITDA recovery by 2023, United Airlines’ revenues are likely to observe strong growth post-2023 as new planes are added to the fleet. We highlight the key divisions of United Airlines’ revenues in an interactive dashboard analysis.
Aircraft replacement necessary for margin expansion
Per annual filings, United Airlines’ fleet comprises 812 mainline and 475 regional aircraft. The mainline primarily consists of 136 737-900ER and 141 737-800 aircraft types. The regional fleet is made up of 190 Embraer and 133 CRJ 200. The recently released aircraft retiral program mostly includes smaller mainline jets and 200 regional jets to be replaced over the next couple of years. With 500 new airplanes in the order book, 40% of United’s fleet will be comprised of newer aircraft – leading to substantial fuel savings and margin expansion.
Travel demand and new retirement plan to push top line higher
United Airlines’ revenues increased by 14% from $38 billion in 2017 to $43 billion in 2019, driven by rising capacity and ticket prices. Revenues are likely to continue the growth trajectory in the post-pandemic period as occupancy rates improve. Notably, passenger numbers at TSA checkpoints have reached almost 20% below 2019 figures assisted by recovering travel and the tourism sector. Also, the third round of payroll support requires airlines to suspend dividends and share repurchases until September 2022 – highlighting the requirement of strong cash generation to reinstate 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 2016.
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.
|
[Updated 10/18/2021] The ongoing decline in new infections coupled with strong domestic travel demand has been pushing hotel industry stocks higher. While dividend payouts and share buybacks remain suspended until September 2022, the airline industry seems to be beating estimates of complete demand recovery earlier than 2023. The shares of United Airlines (NASDAQ: UAL) have trended downward due to fears of low air travel demand in the fourth quarter.
|
We highlight the quarterly trends in revenues, earnings, stock price, and expectations for Q3 2021 in an interactive dashboard analysis, United Airlines Earnings Preview. Trefis highlights the key factors driving United Airlines’ Valuation including revenues, margins, valuation multiple, and competitive comparison with peers in an interactive dashboard analysis. [Updated 07/13/2021] – United Airlines’ Aircraft Order To Assist Long-Term Revenue Growth In a recent move, United Airlines (NASDAQ: UAL) announced a 270-plane order of Boeing 737 Max and Airbus A320s to replace its older regional and mainline aircraft.
|
However, the airline sector including United Airlines (NASDAQ: UAL), continues to underperform broader markets over concerns of a near-term dip in bookings. [Updated 07/13/2021] – United Airlines’ Aircraft Order To Assist Long-Term Revenue Growth In a recent move, United Airlines (NASDAQ: UAL) announced a 270-plane order of Boeing 737 Max and Airbus A320s to replace its older regional and mainline aircraft. Aircraft replacement necessary for margin expansion Per annual filings, United Airlines’ fleet comprises 812 mainline and 475 regional aircraft.
|
As highlighted in our earlier article, United Airlines’ 270 plane order is likely to assist in revenue and margin expansion. [Updated 07/13/2021] – United Airlines’ Aircraft Order To Assist Long-Term Revenue Growth In a recent move, United Airlines (NASDAQ: UAL) announced a 270-plane order of Boeing 737 Max and Airbus A320s to replace its older regional and mainline aircraft. Aircraft replacement necessary for margin expansion Per annual filings, United Airlines’ fleet comprises 812 mainline and 475 regional aircraft.
|
4108.0
|
2021-10-19 00:00:00 UTC
|
UPS, Disney meet White House officials to discuss vaccine mandate
|
AAL
|
https://www.nasdaq.com/articles/ups-disney-meet-white-house-officials-to-discuss-vaccine-mandate-2021-10-19
|
nan
|
nan
|
By Nandita Bose
WASHINGTON, Oct 19 (Reuters) - Executives with United Parcel Service Inc UPS.N, Walt Disney Co DIS.N and other companies met with White House officials on Tuesday to discuss President Joe Biden's COVID-19 vaccine requirement plan for private-sector workers, amid concerns it could worsen labor shortages and supply chain woes.
The mandate would apply to businesses with 100 or more employees, and would affect about 80 million workers nationwide.
Several industry sources, speaking on condition of anonymity, said the rulemaking process was moving with urgency and they expect the mandate to be formally announced as early as this week. It was not clear how much time employers will have to implement it.
The White House's Office of Management and Budget (OMB) has been meeting with several influential business lobbying groups, such as the U.S. Chamber of Commerce, the Retail Industry Leaders Association (RILA) and the Business Roundtable as part of its rulemaking process. The meetings were requested by the trade groups and companies and is part of the regular rulemaking process.
Tuesday's meetings were disclosed in filings with the White House. Disney did not respond to requests for comment. A UPS spokesperson confirmed the meeting and said it is reviewing what a vaccine mandate means for the company and its employees.
Many of the industry groups have raised concerns such as labor shortages and how regulation by the Department of Labor's Occupational Safety and Health Administration (OSHA) could worsen existing supply-chain problems facing U.S. companies ahead of the holiday shopping season. Other topics, such as testing requirements and who will bear the cost, also were raised.
Evan Armstrong, RILA vice president for workforce, said it will be tough for the retail industry to implement the rule in the middle of the U.S. holiday season and that pushing it to January would help. He said the group raised the topic with the White House during their meeting.
"The implementation period needs to push this out past the holiday season because obviously for retail that is the biggest time for us," he said. RILA's members include large U.S. employers such as Walmart Inc WMT.N and the industry supports over 50 million U.S. jobs.
Biden's plan has drawn a mixed reaction from industry trade groups and companies.
Several big employers including Procter & Gamble Co PG.N and 3M Co MMM.N, along with airlines such as American Airlines AAL.O and JetBlue Airways Corp JBLU.O, have imposed vaccination mandates since Biden's announcement last month. Others such as IBM IBM.N have said they will require all U.S. employees to be fully vaccinated by Dec. 8, no matter how often they come into the office.
Some other large U.S. employers, such as Walmart, have yet to issue broad requirements.
The vaccine order has spurred pushback from many Republican governors, including Florida's Ron DeSantis and Greg Abbott of Texas, who issued an executive order banning businesses in his state from requiring vaccinations for employees. Although some, such as American Airlines, have said they plan to proceed with vaccination rules.
The mandate will be implemented under a federal rule-making mechanism known as an emergency temporary standard.
White House meets U.S. Chamber of Commerce, other industry groups on vaccine rule
(Reporting by Nandita Bose in Washington; Editing by Jonathan Oatis and Bill Berkrot)
((nandita.bose@thomsonreuters.com; +12023545868; Reuters Messaging: nandita.bose.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.
|
Several big employers including Procter & Gamble Co PG.N and 3M Co MMM.N, along with airlines such as American Airlines AAL.O and JetBlue Airways Corp JBLU.O, have imposed vaccination mandates since Biden's announcement last month. By Nandita Bose WASHINGTON, Oct 19 (Reuters) - Executives with United Parcel Service Inc UPS.N, Walt Disney Co DIS.N and other companies met with White House officials on Tuesday to discuss President Joe Biden's COVID-19 vaccine requirement plan for private-sector workers, amid concerns it could worsen labor shortages and supply chain woes. Several industry sources, speaking on condition of anonymity, said the rulemaking process was moving with urgency and they expect the mandate to be formally announced as early as this week.
|
Several big employers including Procter & Gamble Co PG.N and 3M Co MMM.N, along with airlines such as American Airlines AAL.O and JetBlue Airways Corp JBLU.O, have imposed vaccination mandates since Biden's announcement last month. By Nandita Bose WASHINGTON, Oct 19 (Reuters) - Executives with United Parcel Service Inc UPS.N, Walt Disney Co DIS.N and other companies met with White House officials on Tuesday to discuss President Joe Biden's COVID-19 vaccine requirement plan for private-sector workers, amid concerns it could worsen labor shortages and supply chain woes. The White House's Office of Management and Budget (OMB) has been meeting with several influential business lobbying groups, such as the U.S. Chamber of Commerce, the Retail Industry Leaders Association (RILA) and the Business Roundtable as part of its rulemaking process.
|
Several big employers including Procter & Gamble Co PG.N and 3M Co MMM.N, along with airlines such as American Airlines AAL.O and JetBlue Airways Corp JBLU.O, have imposed vaccination mandates since Biden's announcement last month. By Nandita Bose WASHINGTON, Oct 19 (Reuters) - Executives with United Parcel Service Inc UPS.N, Walt Disney Co DIS.N and other companies met with White House officials on Tuesday to discuss President Joe Biden's COVID-19 vaccine requirement plan for private-sector workers, amid concerns it could worsen labor shortages and supply chain woes. The White House's Office of Management and Budget (OMB) has been meeting with several influential business lobbying groups, such as the U.S. Chamber of Commerce, the Retail Industry Leaders Association (RILA) and the Business Roundtable as part of its rulemaking process.
|
Several big employers including Procter & Gamble Co PG.N and 3M Co MMM.N, along with airlines such as American Airlines AAL.O and JetBlue Airways Corp JBLU.O, have imposed vaccination mandates since Biden's announcement last month. By Nandita Bose WASHINGTON, Oct 19 (Reuters) - Executives with United Parcel Service Inc UPS.N, Walt Disney Co DIS.N and other companies met with White House officials on Tuesday to discuss President Joe Biden's COVID-19 vaccine requirement plan for private-sector workers, amid concerns it could worsen labor shortages and supply chain woes. The meetings were requested by the trade groups and companies and is part of the regular rulemaking process.
|
4109.0
|
2021-10-19 00:00:00 UTC
|
UPS, Disney to meet with White House and discuss vaccine mandate
|
AAL
|
https://www.nasdaq.com/articles/ups-disney-to-meet-with-white-house-and-discuss-vaccine-mandate-2021-10-19
|
nan
|
nan
|
By Nandita Bose
WASHINGTON, Oct 19 (Reuters) - Executives with United Parcel Service Inc UPS.N, Walt Disney Co DIS.N and other companies are expected to meet with White House officials on Tuesday to discuss President Joe Biden's plan to require that private-sector workers receive COVID-19 vaccinations, according to public filings.
The mandate would apply to businesses with 100 or more employees, and would affect about 80 million workers nationwide.
Several industry sources, speaking on condition of anonymity, said the rulemaking process was moving with urgency and they expect the mandate to be formally announced as early as this week. It was not clear how much time employers will have to implement it.
The White House's Office of Management and Budget (OMB) has been meeting with several influential business lobbying groups, such as the U.S. Chamber of Commerce, the Retail Industry Leaders Association and the Business Roundtable as part of its rulemaking process. The meetings were requested by the trade groups and companies.
Tuesday's meetings were disclosed in filings with the White House.
Many of the groups have raised concerns such as labor shortages and how regulation by the Department of Labor's Occupational Safety and Health Administration (OSHA) could worsen existing supply-chain problems facing U.S. companies ahead of the holiday shopping season. Other topics, such as testing requirements and who will bear the cost, were raised.
The companies did not immediately respond to requests for comment.
Biden's plan has drawn a mixed reaction from industry trade groups and companies.
Several big employers including Procter & Gamble Co PG.N and 3M Co MMM.N, along with airlines such as American AAL.O and JetBlue JBLU.O, have imposed vaccination mandates since Biden's announcement last month. Others such as IBM IBM.N have said they will require all U.S. employees to be fully vaccinated by Dec. 8, no matter how often they come into the office.
Some other large U.S. employers, such as Walmart Inc WMT.N, have yet to issue broad requirements.
The vaccine order has spurred pushback from many Republican governors, including Florida's Ron DeSantis and Greg Abbott of Texas, who issued an executive order banning businesses in his state from requiring vaccinations for employees.
The mandate will be implemented under a federal rule-making mechanism known as an emergency temporary standard.
White House meets U.S. Chamber of Commerce, other industry groups on vaccine rule
(Reporting by Nandita Bose in Washington; editing by Jonathan Oatis)
((nandita.bose@thomsonreuters.com; +12023545868; Reuters Messaging: nandita.bose.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.
|
Several big employers including Procter & Gamble Co PG.N and 3M Co MMM.N, along with airlines such as American AAL.O and JetBlue JBLU.O, have imposed vaccination mandates since Biden's announcement last month. By Nandita Bose WASHINGTON, Oct 19 (Reuters) - Executives with United Parcel Service Inc UPS.N, Walt Disney Co DIS.N and other companies are expected to meet with White House officials on Tuesday to discuss President Joe Biden's plan to require that private-sector workers receive COVID-19 vaccinations, according to public filings. Several industry sources, speaking on condition of anonymity, said the rulemaking process was moving with urgency and they expect the mandate to be formally announced as early as this week.
|
Several big employers including Procter & Gamble Co PG.N and 3M Co MMM.N, along with airlines such as American AAL.O and JetBlue JBLU.O, have imposed vaccination mandates since Biden's announcement last month. By Nandita Bose WASHINGTON, Oct 19 (Reuters) - Executives with United Parcel Service Inc UPS.N, Walt Disney Co DIS.N and other companies are expected to meet with White House officials on Tuesday to discuss President Joe Biden's plan to require that private-sector workers receive COVID-19 vaccinations, according to public filings. Biden's plan has drawn a mixed reaction from industry trade groups and companies.
|
Several big employers including Procter & Gamble Co PG.N and 3M Co MMM.N, along with airlines such as American AAL.O and JetBlue JBLU.O, have imposed vaccination mandates since Biden's announcement last month. By Nandita Bose WASHINGTON, Oct 19 (Reuters) - Executives with United Parcel Service Inc UPS.N, Walt Disney Co DIS.N and other companies are expected to meet with White House officials on Tuesday to discuss President Joe Biden's plan to require that private-sector workers receive COVID-19 vaccinations, according to public filings. The White House's Office of Management and Budget (OMB) has been meeting with several influential business lobbying groups, such as the U.S. Chamber of Commerce, the Retail Industry Leaders Association and the Business Roundtable as part of its rulemaking process.
|
Several big employers including Procter & Gamble Co PG.N and 3M Co MMM.N, along with airlines such as American AAL.O and JetBlue JBLU.O, have imposed vaccination mandates since Biden's announcement last month. It was not clear how much time employers will have to implement it. The White House's Office of Management and Budget (OMB) has been meeting with several influential business lobbying groups, such as the U.S. Chamber of Commerce, the Retail Industry Leaders Association and the Business Roundtable as part of its rulemaking process.
|
4110.0
|
2021-10-17 00:00:00 UTC
|
The Big Storylines Ahead of the Big Banks' Earnings
|
AAL
|
https://www.nasdaq.com/articles/the-big-storylines-ahead-of-the-big-banks-earnings-2021-10-17
|
nan
|
nan
|
With bank earnings set to start hitting the wire this week, host Jason Moser and Fool.com contributor Matt Frankel, CFP, take a look back at how the major U.S. banks fared in the second quarter. They also take a look at some of the biggest news stories about JPMorgan Chase (NYSE: JPM), Bank of America (NYSE: BAC), and Wells Fargo (NYSE: WFC), and give a rundown of what they'll be watching in the third quarter results.
To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. To get started investing, check out our quick-start guide to investing in stocks. A full transcript follows the video.
10 stocks we like better than Bank of America
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 Bank of America 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 September 17, 2021
This video was recorded on Oct. 11, 2021.
Jason Moser: It's Monday, Oct. 11. I'm your host, Jason Moser, and on this week's financials show, folks, don't look now, but it's Earningspalooza. Yes, that's right. Earnings season gets under way this week, which means we're excited and we're going to be hearing from a lot of banks here in the next few days. Joining me this week for a preview of it all, he's your friend and mine. CFP, Certified Financial Planner, Matt Frankel. Matt, how's everything going?
Matt Frankel: Good. I was just kidding you about you not referring to me as guest anymore, but I like that my friend is here.
Moser: I mean, listen, if we're not friends, then what are we?
Frankel: Exactly. We're all friends at The Motley Fool.
Moser: Exactly. Matt, it is that time of year again. This is the week that kicks everything off. Earnings season is getting under way here. As every quarter, we've got the big banks leading the way. We have got JPMorgan starting it off on Wednesday. On Thursday we'll have Bank of America, Wells Fargo, Citi. And then Friday, we have Goldman Sachs. There's a lot on tap here for these five. They really do, I think, reveal a lot of clues as to how the economy is performing and what we might be able to look for this coming holiday season and earnings season, of course.
But first, let's take a look back at these banks just a quarter ago to see what was going on then, talk a little bit about what they reported a quarter ago, and how that might impact or dictate what we're looking out for this coming quarter.
Let's start with JPMorgan. What are the takeaways from last quarter's earnings that you feel you want to keep focused on here as we go into earnings season?
Frankel: Well, I still clearly remember that they started earnings season off with a bang last year. They're always the first one to report; that's the same this year, or this season. They report on Wednesday. All these other banks report Thursday or Friday. You'll see this theme throughout the discussion today: Deposits were up across the board in the second quarter compared to the year before. You often see consumer savings rates go up in times of uncertainty, and the past year was pretty uncertain. So JPMorgan's deposit base was up 25% in the second quarter, year over year. That's pretty impressive growth, being that we're talking about sums in the trillion-dollar range. Its client investment assets were up 36%, and JPMorgan's loans were down. Another common theme among these banks. Their consumer loan portfolio was down 3% year over year, because people were borrowing less money. There were less major purchases people needed to finance. There was more cash flowing in, in the form of stimulus and things to that effect. So deposits up; loans down.
But JPMorgan's revenue was down by 7% year over year. Mainly fueled by lower interest rates and a normalization in trading revenue, is kind of the best way I could put it.
And the best recent new story I found, Jamie Dimon still does not like Bitcoin. [laughs] Jason, do we believe we know that?
Moser: I was going to ask you about that, because that was something I had read a little bit earlier. That's nothing new. Of course, we know he's a relative skeptic there, but his take on, listen, he said there is no intrinsic value, and then furthermore, he just expects it to be regulated to no end.
Frankel: Yeah, I definitely see the regulation side of the equation now. They're just starting to ramp up regulation. So if people like Elizabeth Warren are all over these banks that have all these requirements they have to meet, how do you think people like her are going to react to a decentralized financial tool with trillions of dollars of money behind it? Bitcoin is known to be used for fraud. It's not like a Wells Fargo, where there's like some level of shady business going on. Bitcoin is known as a tool for fraudsters.
Moser: Oh, yeah.
Frankel: So I think the market's really underestimating the pressure that U.S. regulators are going to put on Bitcoin.
Moser: I don't know if you caught this a little while back, but I did see this headline. I think it was back in June or July. It looks like at least the JPMorgan -- so you know Amazon and JPMorgan partner for the Prime credit card. And I just did notice that it sounds like JPMorgan Chase, they're getting ready to forgo that relationship, and it looks like Amazon was accepting bids to take over that credit card relationship. American Express being one; Synchrony Financial another. And I haven't really seen anything materialize since then, but I just found that interesting, given that around $50 billion a year gets spent on that card. It is a meaningful tool. To see JPMorgan willing to bow out and forgo that relationship -- I don't know if it's going to happen, but I don't know if you've seen anything about that lately, if you have any thoughts on that.
Frankel: Well, first, JPMorgan has a massive credit card business. Amazon's obviously a big part of it, but they have a massive credit card business. It'd still be OK if Amazon wasn't their credit card partner anymore. I've got to wonder if Amazon might have made JPMorgan a little mad by how much they're prioritizing the buy now, pay later. I remember we talked about their partnership with Affirm, to where people finance Amazon purchases pretty easily. We mentioned that could be billions of dollars in revenue for Affirm, and that's revenue out of JPMorgan's credit card pocket.
Moser: Yeah.
Frankel: So maybe they made JPMorgan a little mad with that. I don't know.
Moser: Yeah, it's possible. It's certainly, those relationships become more and more difficult as these co-branded cards, it'd typically result in these robust rewards and cash-back programs. Just, ultimately, it becomes a little bit more difficult for JPMorgan to make money on that deal when you have to shell out those rewards. So maybe that does play into it, given Amazon's penchant for being so customer-centric. Clearly, they would want a very robust rewards program for the card. Maybe JPMorgan just feels like just the juice isn't worth the squeeze anymore.
Frankel: I have to think that Amazon, they get some sort of favorable revenue split compared to other credit card partners, just because of their size, like how Costco can get a better deal from Visa than any other merchant can, just because of the enormity of the purchase volume that goes on those cards. I think maybe Amazon is getting some favorable revenue deal that Chase doesn't want to pay anymore.
Moser: Yeah, I'd imagine so.
Frankel: There's a lot we don't know that happens behind the scenes.
Moser: That's right. It's an interesting relationship there for sure.
But let's take a look at Bank of America, Wells Fargo. We'll start with Bank of America. Clearly, they're a very well-run bank. Brian Moynihan, I've said before, I think when you talked about these bank CEOs, Jamie Dimon is one that stands out, but to me, Brian Moynihan is, like, 1B. He's right there, given what he has done with this business to date here. What stood out last quarter with Bank of America that is going to dictate what you're paying attention to this quarter?
Frankel: Again, common themes. Deposits were up 21% year over year in the second quarter. Loans were down 11% year over year, which, that's a pretty substantial decline.
Moser: Yeah.
Frankel: A couple of things to note with Bank of America. Net interest income was down s6% year over year. That was the bulk of their revenue decline, and the reason is what happened between the second quarter of last year and now, interest rates plunged to record lows. That's great if you're a consumer. Jason and I both refinanced our mortgage, and we were happy to see rates plunge to record lows. But it's not great if you're a bank.
On the other side of things, defaults are not nearly as bad as the banks thought they would be, and they've been getting better. Bank of America's net charge-off rate fell from 0.45% in the second quarter of last year, steadily, to 0.27% this year in the second quarter. Pretty big decline in charge-offs. That's something I'm going to be watching that I'll mention later when we talk about our big long list of things that we're watching with bank earnings.
Another thing I'm watching with Bank of America, and it's actually a positive story: I mentioned banks are seldom in the news for positive reasons, but this is one of them. Bank of America just raised the minimum wage to $21 an hour.
Moser: Oh, wow.
Frankel: They are planning to incrementally raise that to $25 an hour by 2025. They have been in the forefront of paying living wages, as far as the banking industry goes, for years now. I'm wondering if that cuts into their profits in a significant way, or, on the other hand, if it lets them provide better customer service and it's more of a competitive advantage because they are retaining their employees and making their employees happy. I'm curious to see where that goes over the long term and if Brian Moynihan makes any comments about it during the conference call.
Moser: Well, as I mentioned earlier, Wells Fargo has had a great year so far. I was looking at a chart of all of these banks earlier. Looking at Wells Fargo, Citigroup, Goldman Sachs, Bank of America, JPMorgan, comparing them to the market year to date. They're all actually outperforming the market as of today, year to date. Standing at the top of the list there, Matt, and listen to me, we've got to give you a shout out here, because it's Wells Fargo at around 60% returns so far year to date. And the reason why I want to want to shine a light on that is just because, again, going back to the beginning of the year, Wells Fargo was your financial stock of the year. We were talking about what was the stock you felt like investors really should have an eye on for this coming year in the financial space, and you picked Wells Fargo, beaten down, recognizing that it was potentially a value trap, but you saw actually probably a better value play. So far, it seems to be working out well.
Frankel: Oh, for sure. Wells Fargo looked like it was heading for disaster at the end of last year. Not only was the bank facing all this regulatory scrutiny for all their past bad behavior, but it was really unknown whether or not they would have a bunch of defaults that they couldn't deal with. Because remember, Wells Fargo's the most consumer-facing of the four big banks.
Moser: Yeah.
Frankel: But it looks like they've avoided a worst-case scenario, which is really why they've performed so well. The numbers look pretty solid. They are actually one of the few banks to increase revenue in the second quarter, year over year. A big reason for that is they released a lot of their loan-loss reserves. I mentioned they were really worried about increasing credit losses. That didn't really materialize. They were able to release $1.6 billion in the second quarter.
Moser: Nice.
Frankel: That really fueled their earnings, fueled their return on equity, things like that. Non-interest income is up 37% year over year because of that reserve release. Net interest income was down 11% year over year, which is pretty bad. I mentioned interest rates went to record lows. Most consumer-facing bank in the business. What happens? Lower net interest income.
Moser: Yeah.
Frankel: As far as news stories, they've been under the microscope lately. There's really no way to put that nicely. Elizabeth Warren recently asked the Fed to break up Wells Fargo.
Moser: Wow.
Frankel: They're doing a good job of moving on and going with the flow. They announced a new credit card product recently, announced that they're going to really focus on their digital strategy, which is something that they had not been doing very well under previous administration. So I'm still positive on Wells Fargo, but that's going to be an interesting quarter to watch, see how they do.
Moser: What about Citibank? You get Citigroup here reporting. The stock has done OK, I'd say, so far this year. It's the laggard of the bunch, though, just kind of matching the market, pretty much. What will you be watching out for there?
Frankel: Well, they had by far the worst revenue decline in the second quarter of the big four. Revenue was down 12% year over year. A lot of that was because of much worse weakness than expected in trading revenue, especially in fixed-income trading. Remember, Citigroup is one of the banks where a lot of their revenue is in investment banking. But just like the other banks we saw, deposits up in retail banking. Deposits were up 70% year over year. Loans were actually up 3% year over year in Citi's retail division, which kind of went against the trend.
And Citi, I think even more so than JPMorgan Chase, is a credit card-dependent bank. I know, for example, they are American Airlines' partner. Citi is, I believe, Costco's retail partner, which is a big account. Citi issues a lot of big -- Best Buy. My Best Buy card is issued through Citi. They're the retail partner for a lot of major credit card operations. Costco alone, I'm pretty sure, is bigger than Amazon's credit card partnership, because it's the only card they accept there.
Moser: That's a big one.
Frankel: It's a big one. I'm really curious to see how their credit losses are holding up. Remember, I said the big industry trend is credit losses were down across the board. I want to see if that holds up. But all in all, Citi, they have a lot to gain if things start going well in the economy.
Moser: What about Goldman Sachs on Friday, talking about investment banks? And, I mean, clearly this is one that is very levered to that market. I mean, also the relationship with Apple, of course. What's your take on Goldman?
Frankel: Well, remember, Goldman's still primarily an investment bank. Their consumer division is growing quickly. That's their Apple card. They took over GM's card business, a few others. Goldman is primarily an investment bank, and their first half was one for the record books, literally. They had their record revenue in the first half. They had the second best revenue of all time in the second quarter, only second to the first quarter. so they're having a phenomenal start to the year. They are trading for something like 12 times their first-half earnings. That's an incredibly low valuation -- 27% return on equity in the first half. Their investment banking revenue was just off the charts. It was kind of a positive perfect storm for investment banking. M&A activity was kind of off the charts, IPO activity was off the charts, and there was a lot of market volatility, which was great for their trading operations. So they just kind of got the best of all worlds. Their assets under supervision are higher than they've ever been -- more than $2.3 trillion. So Goldman's just really been firing on all cylinders.
So I don't think they're going to have a record third quarter. The M&A activity wasn't really as high as it had been in the first half. IPO activity kind of dropped off a little bit. The SPAC boom died out. That's where they've made a lot of their investment banking money in the first half. So this is one that I'm most curious about out of the five, just because it's the most unpredictable. Trading revenue is inherently kind of unpredictable. And then you have all the other parts of their investment banking business that are, really, it's tough to say how badly the M&A part got hit, for example, or the IPO, the equity underwriting, that part of their business. How badly that got hit. There's a lot of moving parts, and they're all really unpredictable.
Moser: Well, let's turn our attention to the upcoming quarter here. Starting on Wednesday, we're going to get a slew of reports. Let's take a take a forward-looking perspective here and talk a little bit about big picture. Generally speaking -- we're not going to go one by one through each bank -- but generally speaking, what are some of the big-picture trends you're looking out for? What are you expecting?
Frankel: For one, I want to see how all these loan deposits and all that -- how these numbers compare to a more normal quarter. The second quarter of 2020 was not normal. That was when the world was kind of, like in complete disarray and no one knew what to make of the pandemic. So the second quarter of 2021 wasn't the best comparison year over year. So you're going to see a more apples-to-apples comparison when it comes to things like loan growth, deposit growth or decline.
I'm also looking at the effective interest rates, because interest rates have started to tick upward in the past few months. That's one of the big reasons that the tech sector has performed so poorly. That can be a positive for banks. I want to see if net interest income might have, not normalized, but has ticked upward a little during the third quarter.
JPMorgan and Citigroup, I'll be watching the credit card business pretty closely. I want to see the charge-off numbers, if they keep heading in the right direction or if there's something to be concerned about. I think we might actually get a few more reserve releases this quarter. Remember that was a big trend in the second quarter.
I want to see what the CEOs have to say about the office return. Because if you remember the banking sector, all these CEOs were the most gung-ho out of any industry about the return to the office. Jamie Dimon, especially, said I want my employees in the office. Then they all ended up delaying their office return because of the delta surge. So I want to see what they have to say about that.
And I want to see what's going on with trading revenue in just investment banking in general. Because like I just mentioned with Goldman Sachs, it's probably the least predictable part of these. So that's what I'll be watching.
Moser: Yeah. One thing I was thinking of too, and it's just because we've seen this word so much lately running throughout the financial headlines, it's inflation. I mean, inflation, something that we're hearing more about and we talked about it on the show, clearly, of course. I just went back through each transcript for these five banks to see, last quarter, what was the language like for inflation? Were they talking about it even, or was it a point of focus? And if you look through these calls, it was really interesting. Goldman Sachs, the word was mentioned three times. Citigroup, it was mentioned two times. Wells Fargo, the word "inflation" was never even mentioned on the call. Granted, I think they probably a bigger fish to fry than that. Bank of America ,just once. But here, this was kind of fascinating: JPMorgan, 14 times. That was an outlier there.
But I feel like maybe with JPMorgan, maybe you feel differently, but if I look at all of these banks, of these five to me, the JPMorgan call is the one that I get the most information from. That's the one I value more than any of the others. It feels to me like they talk just a bit more about big-picture stuff than perhaps the other ones that are a bit more, like you said -- I mean, you've got Citi, which is credit card-specific, Goldman, a very investment banking-focused. JPMorgan seems to be a little bit of it all, and maybe that's why that's the case.
Frankel: Yeah. It's like, Jamie Dimon's calls are kind of like Warren Buffett's in the sense that no one listens to Buffett's report -- no one listens to Buffett's call to hear what he thinks about what Berkshire Hathaway's doing. They listen to him because they want to know what he thinks about the market in general, or, like you said, inflation, or any of these other things. So yeah, Jamie Dimon is the most relevant regardless of what stock you're invested in. I mean, I pay close attention to Bank America since it's one of my big positions. But JPMorgan, it's relevant to all investors, even if you're not really interested in banks, because it's that insightful, just on what's going on in the economy in general.
Moser: Well, that's a lot of good stuff there, Matt. I think our listeners will agree as well. Of course as always, thank you so much for taking the time to dig in and jump on the show today. It's not my guest. He's my friend. He's my partner in crime. [laughs] He is Matt Frankel. Thanks again, Matt.
Frankel: Of course. Always good to be here.
Moser: That'll do it for us this week, folks. Remember, you can always reach out to us on Twitter, @MFIndustryFocus, or you can drop us an email at industryfocus@fool.com. As always, people on the program may have interest in the stocks they talk about, and The Motley Fool may have formal recommendations for or against, so don't buy or sell stocks based solely on what you hear. Thanks as always to Tim Sparks for putting the show together for us. For Matt Frankel, I'm Jason Moser. Thanks for listening, and we'll see you next week.
American Express, Citigroup, JPMorgan Chase, Bank of America, Synchrony Financial, and Wells Fargo are advertising partners of The Ascent, a Motley Fool company. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Jason Moser owns shares of Amazon, Apple, and Visa. Matthew Frankel, CFP® owns shares of American Express, Apple, Bank of America, Berkshire Hathaway (B shares), General Motors, Goldman Sachs, and Wells Fargo and has the following options: short November 2021 $140 calls on Apple. The Motley Fool owns shares of and recommends Amazon, Apple, Berkshire Hathaway (B shares), Costco Wholesale, and Visa. The Motley Fool recommends the following options: long January 2022 $1,920 calls on Amazon, long January 2023 $200 calls on Berkshire Hathaway (B shares), long March 2023 $120 calls on Apple, short January 2022 $1,940 calls on Amazon, short January 2023 $200 puts on Berkshire Hathaway (B shares), short January 2023 $265 calls on Berkshire Hathaway (B shares), and short March 2023 $130 calls on Apple. 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.
|
Looking at Wells Fargo, Citigroup, Goldman Sachs, Bank of America, JPMorgan, comparing them to the market year to date. We were talking about what was the stock you felt like investors really should have an eye on for this coming year in the financial space, and you picked Wells Fargo, beaten down, recognizing that it was potentially a value trap, but you saw actually probably a better value play. American Express, Citigroup, JPMorgan Chase, Bank of America, Synchrony Financial, and Wells Fargo are advertising partners of The Ascent, a Motley Fool company.
|
American Express, Citigroup, JPMorgan Chase, Bank of America, Synchrony Financial, and Wells Fargo are advertising partners of The Ascent, a Motley Fool company. Matthew Frankel, CFP® owns shares of American Express, Apple, Bank of America, Berkshire Hathaway (B shares), General Motors, Goldman Sachs, and Wells Fargo and has the following options: short November 2021 $140 calls on Apple. The Motley Fool recommends the following options: long January 2022 $1,920 calls on Amazon, long January 2023 $200 calls on Berkshire Hathaway (B shares), long March 2023 $120 calls on Apple, short January 2022 $1,940 calls on Amazon, short January 2023 $200 puts on Berkshire Hathaway (B shares), short January 2023 $265 calls on Berkshire Hathaway (B shares), and short March 2023 $130 calls on Apple.
|
With bank earnings set to start hitting the wire this week, host Jason Moser and Fool.com contributor Matt Frankel, CFP, take a look back at how the major U.S. banks fared in the second quarter. Bank of America's net charge-off rate fell from 0.45% in the second quarter of last year, steadily, to 0.27% this year in the second quarter. They are actually one of the few banks to increase revenue in the second quarter, year over year.
|
With bank earnings set to start hitting the wire this week, host Jason Moser and Fool.com contributor Matt Frankel, CFP, take a look back at how the major U.S. banks fared in the second quarter. Looking at Wells Fargo, Citigroup, Goldman Sachs, Bank of America, JPMorgan, comparing them to the market year to date. Remember, Citigroup is one of the banks where a lot of their revenue is in investment banking.
|
4111.0
|
2021-10-15 00:00:00 UTC
|
Boeing workers stage protest near Seattle over U.S. vaccine mandate
|
AAL
|
https://www.nasdaq.com/articles/boeing-workers-stage-protest-near-seattle-over-u.s.-vaccine-mandate-2021-10-16
|
nan
|
nan
|
By Eric M. Johnson
EVERETT, Wash., Oct 15 (Reuters) - Waving signs like "coercion is not consent," and "stop the mandate," some 200 Boeing Co BA.N employees and others staged a protest on Friday over the planemaker's COVID-19 vaccine requirement for U.S. workers.
Boeing said on Tuesday it will require its 125,000 U.S. employees to be vaccinated by Dec. 8 under an executive order issued by President Joe Biden for federal contractors.
As the pandemic has continued to rage, Biden announced the requirement in September because a large swath of Americans have resisted vaccination even though the shots are free, widely available and declared safe by regulators.
"It's my choice and it's my body," one avionics engineer said, his voice nearly drowned out by anti-Biden chants and trucks honking to show support along the busy street outside Boeing's factory in Everett, north of Seattle.
"It's an experimental drug given under a pseudo-emergency," he added.
Another worker, an assembly mechanic, said: "This is America. We don't just do what we're told because one person says to."
Earlier this week, Boeing said employees must either show proof of vaccination or have an approved reasonable accommodation based on a disability or sincerely held religious belief by Dec. 8.
"Boeing is committed to maintaining a safe working environment for our employees," a spokesperson said. "Advancing the health and safety of our global workforce is fundamental to our values and a core priority every day."
Major U.S. airlines including American Airlines AAL.O have said they will also meet the deadline imposed on federal contractors, as has aircraft parts manufacturer Spirit AeroSystems SPR.N.
"Now that he has issued the Executive Order, it is our responsibility to comply with that order," Spirit Chief Executive Officer Tom Gentile wrote in a memo to employees and seen by Reuters on Friday.
Spirit was calling back former employees as it prepares for what Gentile characterized as "one of the fastest increases in production rates in the history of our industry."
Boeing has said its mandate does not apply immediately to its sites in Texas, where Republican Governor Greg Abbott issued an executive order on Monday barring COVID-19 vaccine mandates by any entity, including private employers.
(Reporting by Eric M. Johnson in Everett, Washington; Editing by Chris Reese and Rosalba O'Brien)
((Eric.m.johnson@thomsonreuters.com; +1 206 707 1218; Follow me on Twitter @ByEricMJohnson;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Major U.S. airlines including American Airlines AAL.O have said they will also meet the deadline imposed on federal contractors, as has aircraft parts manufacturer Spirit AeroSystems SPR.N. By Eric M. Johnson EVERETT, Wash., Oct 15 (Reuters) - Waving signs like "coercion is not consent," and "stop the mandate," some 200 Boeing Co BA.N employees and others staged a protest on Friday over the planemaker's COVID-19 vaccine requirement for U.S. workers. As the pandemic has continued to rage, Biden announced the requirement in September because a large swath of Americans have resisted vaccination even though the shots are free, widely available and declared safe by regulators.
|
Major U.S. airlines including American Airlines AAL.O have said they will also meet the deadline imposed on federal contractors, as has aircraft parts manufacturer Spirit AeroSystems SPR.N. By Eric M. Johnson EVERETT, Wash., Oct 15 (Reuters) - Waving signs like "coercion is not consent," and "stop the mandate," some 200 Boeing Co BA.N employees and others staged a protest on Friday over the planemaker's COVID-19 vaccine requirement for U.S. workers. Boeing said on Tuesday it will require its 125,000 U.S. employees to be vaccinated by Dec. 8 under an executive order issued by President Joe Biden for federal contractors.
|
Major U.S. airlines including American Airlines AAL.O have said they will also meet the deadline imposed on federal contractors, as has aircraft parts manufacturer Spirit AeroSystems SPR.N. By Eric M. Johnson EVERETT, Wash., Oct 15 (Reuters) - Waving signs like "coercion is not consent," and "stop the mandate," some 200 Boeing Co BA.N employees and others staged a protest on Friday over the planemaker's COVID-19 vaccine requirement for U.S. workers. Boeing said on Tuesday it will require its 125,000 U.S. employees to be vaccinated by Dec. 8 under an executive order issued by President Joe Biden for federal contractors.
|
Major U.S. airlines including American Airlines AAL.O have said they will also meet the deadline imposed on federal contractors, as has aircraft parts manufacturer Spirit AeroSystems SPR.N. Boeing said on Tuesday it will require its 125,000 U.S. employees to be vaccinated by Dec. 8 under an executive order issued by President Joe Biden for federal contractors. "Now that he has issued the Executive Order, it is our responsibility to comply with that order," Spirit Chief Executive Officer Tom Gentile wrote in a memo to employees and seen by Reuters on Friday.
|
4112.0
|
2021-10-15 00:00:00 UTC
|
Boeing workers stage protest over vaccine mandate
|
AAL
|
https://www.nasdaq.com/articles/boeing-workers-stage-protest-over-vaccine-mandate-2021-10-15
|
nan
|
nan
|
By Eric M. Johnson
EVERETT, Wash., Oct 15 (Reuters) - Waving signs like "coercion is not consent," and "stop the mandate," some 200 Boeing Co BA.N employees and others staged a protest on Friday over the planemaker's COVID-19 vaccine requirement for U.S. workers.
Boeing said on Tuesday it will require its 125,000 U.S. employees to be vaccinated by Dec. 8 under an executive order issued by President Joe Biden for federal contractors.
Biden and his team have struggled to vanquish the coronavirus pandemic because a large swath of the U.S. population continues to resist taking safe and widely available vaccines.
"It's my choice and it's my body," one avionics engineer said, his voice nearly drowned out by anti-Biden chants and trucks honking to show support along the busy street outside Boeing's factory in Everett, north of Seattle.
"It's an experimental drug given under a pseudo-emergency," he added.
Another worker, an assembly mechanic, said: "This is America. We don't just do what we're told because one person says to."
A Boeing spokesperson did not immediately respond to a request for comment.
Earlier this week, Boeing said employees must either show proof of vaccination or have an approved reasonable accommodation based on a disability or sincerely held religious belief by Dec. 8.
Major U.S. airlines including American Airlines AAL.O have said they will also meet the deadline imposed on federal contractors, as has aircraft parts manufacturer Spirit AeroSystems SPR.N.
"Now that he has issued the Executive Order, it is our responsibility to comply with that order," Spirit Chief Executive Officer Tom Gentile wrote in a memo to employees and seen by Reuters on Friday.
Spirit was calling back former employees as it prepares for what Gentile characterized as "one of the fastest increases in production rates in the history of our industry."
Several Boeing employees at the protest said they were applying for exemptions. One engineer said he might seek early retirement, rather than complying with the mandate. Another employee, a 20-year Boeing technical designer, said he would find a new job rather than take a COVID vaccine, and made untrue claims about the vaccine.
"The vaccine isn't safe, it isn't proven, and it's not effective," he said.
Boeing has said its mandate does not apply immediately to its sites in Texas, where Republican Governor Greg Abbott issued an executive order on Monday barring COVID-19 vaccine mandates by any entity, including private employers.
One Boeing mechanic - wearing a shirt with the words "practicing socialist distancing" - said the mandate reflected "tyrannical big-government and tyrannical big business."
"I'm against the mandate, and the vaccine is a personal choice," he said.
(Reporting by Eric M. Johnson in Everett, Washington; Editing by Chris Reese)
((Eric.m.johnson@thomsonreuters.com; +1 206 707 1218; Follow me on Twitter @ByEricMJohnson;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Major U.S. airlines including American Airlines AAL.O have said they will also meet the deadline imposed on federal contractors, as has aircraft parts manufacturer Spirit AeroSystems SPR.N. By Eric M. Johnson EVERETT, Wash., Oct 15 (Reuters) - Waving signs like "coercion is not consent," and "stop the mandate," some 200 Boeing Co BA.N employees and others staged a protest on Friday over the planemaker's COVID-19 vaccine requirement for U.S. workers. "It's my choice and it's my body," one avionics engineer said, his voice nearly drowned out by anti-Biden chants and trucks honking to show support along the busy street outside Boeing's factory in Everett, north of Seattle.
|
Major U.S. airlines including American Airlines AAL.O have said they will also meet the deadline imposed on federal contractors, as has aircraft parts manufacturer Spirit AeroSystems SPR.N. By Eric M. Johnson EVERETT, Wash., Oct 15 (Reuters) - Waving signs like "coercion is not consent," and "stop the mandate," some 200 Boeing Co BA.N employees and others staged a protest on Friday over the planemaker's COVID-19 vaccine requirement for U.S. workers. Boeing said on Tuesday it will require its 125,000 U.S. employees to be vaccinated by Dec. 8 under an executive order issued by President Joe Biden for federal contractors.
|
Major U.S. airlines including American Airlines AAL.O have said they will also meet the deadline imposed on federal contractors, as has aircraft parts manufacturer Spirit AeroSystems SPR.N. By Eric M. Johnson EVERETT, Wash., Oct 15 (Reuters) - Waving signs like "coercion is not consent," and "stop the mandate," some 200 Boeing Co BA.N employees and others staged a protest on Friday over the planemaker's COVID-19 vaccine requirement for U.S. workers. Boeing said on Tuesday it will require its 125,000 U.S. employees to be vaccinated by Dec. 8 under an executive order issued by President Joe Biden for federal contractors.
|
Major U.S. airlines including American Airlines AAL.O have said they will also meet the deadline imposed on federal contractors, as has aircraft parts manufacturer Spirit AeroSystems SPR.N. By Eric M. Johnson EVERETT, Wash., Oct 15 (Reuters) - Waving signs like "coercion is not consent," and "stop the mandate," some 200 Boeing Co BA.N employees and others staged a protest on Friday over the planemaker's COVID-19 vaccine requirement for U.S. workers. Boeing said on Tuesday it will require its 125,000 U.S. employees to be vaccinated by Dec. 8 under an executive order issued by President Joe Biden for federal contractors.
|
4113.0
|
2021-10-15 00:00:00 UTC
|
U.S. to lift curbs from Nov. 8 for vaccinated foreign travelers - White House
|
AAL
|
https://www.nasdaq.com/articles/u.s.-to-lift-curbs-from-nov.-8-for-vaccinated-foreign-travelers-white-house-2021-10-15
|
nan
|
nan
|
By David Shepardson
WASHINGTON, Oct 15 (Reuters) - The White House on Friday said it will lift COVID-19 travel restrictions for fully vaccinated foreign nationals effective Nov. 8, ending historic restrictions that barred much of the world from the United States.
Restrictions on non-U.S. citizens were first imposed on air travelers from China in January 2020 by then-President Donald Trump and then extended to dozens of other countries, without any clear metrics for how and when to lift them.
Curbs on non-essential travelers at land borders with Mexico and Canada have been in place since March 2020 to address the COVID-19 pandemic.
Reuters first reported Friday's announcement of the Nov. 8 starting date earlier in the day.
U.S. airline, hotel and cruise industry stocks rose on the news, including American Airlines AAL.O, up 1.9%; Marriott International Inc MAR.O, up 2.2%; and Carnival Corp CCL.N, up 1.3%.
The United States had lagged many other countries in lifting such restrictions, and allies welcomed the move. The U.S. restrictions have barred travelers from most of the world, including tens of thousands of foreign nationals with relatives or business links in the United States.
The White House on Tuesday announced it would lift restrictions at its land borders and ferry crossings with Canada and Mexico for fully vaccinated foreign nationals in early November. They are similar but not identical to requirements announced last month for international air travelers.
Unvaccinated visitors will still be barred from entering the United States from Canada or Mexico at land borders.
Canada on Aug. 9 began allowing fully vaccinated U.S. visitors for non-essential travel.
The Centers for Disease Control and Prevention (CDC) told Reuters last week the United States will accept the use by international visitors of COVID-19 vaccines authorized by U.S. regulators or the World Health Organization.
The White House, which held a meeting late Thursday to finalize the Nov. 8 date, still faces some remaining questions, including how and what exemptions the Biden administration will grant to the vaccine requirements. Children under 18, for example, are largely expected to be exempt from the requirements, an official said.
U.S. Travel Association Chief Executive Roger Dow said in a statement that the Nov. 8 date "is critically important for planning - for airlines, for travel-supported businesses, and for millions of travelers worldwide who will now advance plans to visit the United States once again."
The White House announced on Sept. 20 that the United States would lift restrictions on air travelers from 33 countries in early November. It did not specify the date at the time.
Starting Nov. 8, the United States will admit fully vaccinated foreign air travelers from the 26 so-called Schengen countries in Europe, including France, Germany, Italy, Spain, Switzerland and Greece, as well as Britain, Ireland, China, India, South Africa, Iran and Brazil. The unprecedented U.S. restrictions have barred non-U.S. citizens who were in those countries within the past 14 days.
The United States has allowed foreign air travelers from more than 150 countries throughout the pandemic, a policy that critics said made little sense because some countries with high COVID-19 rates were not on the restricted list, while some on the list had the pandemic more under control.
The White House said last month it would apply vaccine requirements to foreign nationals traveling from all other countries.
Non-U.S. air travelers will need to show proof of vaccination before boarding a flight, and will need to show proof of a recent negative COVID-19 test. Foreign visitors crossing a land border will not need to show proof of a recent negative COVID-19 test.
The new rules do not require foreign visitors or Americans entering the country to go into quarantine.
Americans traveling overseas must still show proof of a recent negative COVID-19, and unvaccinated Americans will face stricter COVID-19 testing requirements. They will also be subject to restrictions in the countries they plan to visit, which may include quarantines.
The CDC plans to soon issue new rules on contact tracing for international air travelers.
(Reporting by David Shepardson; editing by John Stonestreet, Nick Zieminski and 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.
|
U.S. airline, hotel and cruise industry stocks rose on the news, including American Airlines AAL.O, up 1.9%; Marriott International Inc MAR.O, up 2.2%; and Carnival Corp CCL.N, up 1.3%. The White House on Tuesday announced it would lift restrictions at its land borders and ferry crossings with Canada and Mexico for fully vaccinated foreign nationals in early November. The Centers for Disease Control and Prevention (CDC) told Reuters last week the United States will accept the use by international visitors of COVID-19 vaccines authorized by U.S. regulators or the World Health Organization.
|
U.S. airline, hotel and cruise industry stocks rose on the news, including American Airlines AAL.O, up 1.9%; Marriott International Inc MAR.O, up 2.2%; and Carnival Corp CCL.N, up 1.3%. By David Shepardson WASHINGTON, Oct 15 (Reuters) - The White House on Friday said it will lift COVID-19 travel restrictions for fully vaccinated foreign nationals effective Nov. 8, ending historic restrictions that barred much of the world from the United States. The White House on Tuesday announced it would lift restrictions at its land borders and ferry crossings with Canada and Mexico for fully vaccinated foreign nationals in early November.
|
U.S. airline, hotel and cruise industry stocks rose on the news, including American Airlines AAL.O, up 1.9%; Marriott International Inc MAR.O, up 2.2%; and Carnival Corp CCL.N, up 1.3%. By David Shepardson WASHINGTON, Oct 15 (Reuters) - The White House on Friday said it will lift COVID-19 travel restrictions for fully vaccinated foreign nationals effective Nov. 8, ending historic restrictions that barred much of the world from the United States. The White House announced on Sept. 20 that the United States would lift restrictions on air travelers from 33 countries in early November.
|
U.S. airline, hotel and cruise industry stocks rose on the news, including American Airlines AAL.O, up 1.9%; Marriott International Inc MAR.O, up 2.2%; and Carnival Corp CCL.N, up 1.3%. By David Shepardson WASHINGTON, Oct 15 (Reuters) - The White House on Friday said it will lift COVID-19 travel restrictions for fully vaccinated foreign nationals effective Nov. 8, ending historic restrictions that barred much of the world from the United States. Unvaccinated visitors will still be barred from entering the United States from Canada or Mexico at land borders.
|
4114.0
|
2021-10-15 00:00:00 UTC
|
U.S. to lift curbs from Nov. 8 for vaccinated foreign travelers - official
|
AAL
|
https://www.nasdaq.com/articles/u.s.-to-lift-curbs-from-nov.-8-for-vaccinated-foreign-travelers-official-2021-10-15
|
nan
|
nan
|
By David Shepardson
WASHINGTON, Oct 15 (Reuters) - The White House will announce on Friday it will lift travel restrictions for fully vaccinated foreign nationals effective Nov. 8, at land borders and for air travel, a White House official said.
Curbs on non-essential travelers at land borders have been in place since March 2020 to address the COVID-19 pandemic and were first imposed on air travelers in China in early 2020 and extended to more than 30 other countries.
The White House announced Tuesday it would lift restrictions at its land borders and ferry crossings with Canada and Mexico for fully vaccinated foreign nationals in early November. They are similar but not identical to requirements announced last month for international air travelers.
Unvaccinated visitors will still be barred from entering the United States from Canada or Mexico at land borders.
Canada on Aug. 9 began allowing fully vaccinated U.S. visitors for non-essential travel.
The White House announced on Sept. 20 that the United States would lift restrictions on air travelers from 33 countries including China, India, Brazil and most of Europe in early November. It did not disclose the precise date at the time.
It also said it would apply vaccine requirements to foreign nationals traveling from all other countries.
Non-U.S. air travelers will need to show proof of vaccination before boarding a flight, and will need to show proof of a recent negative COVID-19 test. Foreign visitors crossing a land border will not need to show proof of a recent negative COVID-19 test.
(Reporting by David Shepardson; editing by John Stonestreet 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.
|
By David Shepardson WASHINGTON, Oct 15 (Reuters) - The White House will announce on Friday it will lift travel restrictions for fully vaccinated foreign nationals effective Nov. 8, at land borders and for air travel, a White House official said. The White House announced Tuesday it would lift restrictions at its land borders and ferry crossings with Canada and Mexico for fully vaccinated foreign nationals in early November. The White House announced on Sept. 20 that the United States would lift restrictions on air travelers from 33 countries including China, India, Brazil and most of Europe in early November.
|
By David Shepardson WASHINGTON, Oct 15 (Reuters) - The White House will announce on Friday it will lift travel restrictions for fully vaccinated foreign nationals effective Nov. 8, at land borders and for air travel, a White House official said. The White House announced Tuesday it would lift restrictions at its land borders and ferry crossings with Canada and Mexico for fully vaccinated foreign nationals in early November. The White House announced on Sept. 20 that the United States would lift restrictions on air travelers from 33 countries including China, India, Brazil and most of Europe in early November.
|
By David Shepardson WASHINGTON, Oct 15 (Reuters) - The White House will announce on Friday it will lift travel restrictions for fully vaccinated foreign nationals effective Nov. 8, at land borders and for air travel, a White House official said. Curbs on non-essential travelers at land borders have been in place since March 2020 to address the COVID-19 pandemic and were first imposed on air travelers in China in early 2020 and extended to more than 30 other countries. The White House announced Tuesday it would lift restrictions at its land borders and ferry crossings with Canada and Mexico for fully vaccinated foreign nationals in early November.
|
The White House announced Tuesday it would lift restrictions at its land borders and ferry crossings with Canada and Mexico for fully vaccinated foreign nationals in early November. The White House announced on Sept. 20 that the United States would lift restrictions on air travelers from 33 countries including China, India, Brazil and most of Europe in early November. It also said it would apply vaccine requirements to foreign nationals traveling from all other countries.
|
4115.0
|
2021-10-15 00:00:00 UTC
|
EXCLUSIVE-U.S. to partly lift international travel curbs from Nov. 8 - official
|
AAL
|
https://www.nasdaq.com/articles/exclusive-u.s.-to-partly-lift-international-travel-curbs-from-nov.-8-official-2021-10-15
|
nan
|
nan
|
Oct 15 (Reuters) - The White House will announce on Friday it will lift travel restrictions for fully vaccinated foreign nationals from more than 30 countries, effective Nov. 8, at land borders and for air travel, a White House official said.
Curbs on non-essential travelers have been in place since March 2020 to address the COVID-19 pandemic.
The White House announced on Sept. 20 that the United States would lift restrictions on such air travelers from 33 countries including China, India, Brazil and most of Europe in early November. It did not disclose the precise date.
(Reporting by David Shepardson; editing by John Stonestreet)
((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.
|
Oct 15 (Reuters) - The White House will announce on Friday it will lift travel restrictions for fully vaccinated foreign nationals from more than 30 countries, effective Nov. 8, at land borders and for air travel, a White House official said. Curbs on non-essential travelers have been in place since March 2020 to address the COVID-19 pandemic. The White House announced on Sept. 20 that the United States would lift restrictions on such air travelers from 33 countries including China, India, Brazil and most of Europe in early November.
|
Oct 15 (Reuters) - The White House will announce on Friday it will lift travel restrictions for fully vaccinated foreign nationals from more than 30 countries, effective Nov. 8, at land borders and for air travel, a White House official said. The White House announced on Sept. 20 that the United States would lift restrictions on such air travelers from 33 countries including China, India, Brazil and most of Europe in early November. (Reporting by David Shepardson; editing by John Stonestreet) ((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.
|
Oct 15 (Reuters) - The White House will announce on Friday it will lift travel restrictions for fully vaccinated foreign nationals from more than 30 countries, effective Nov. 8, at land borders and for air travel, a White House official said. The White House announced on Sept. 20 that the United States would lift restrictions on such air travelers from 33 countries including China, India, Brazil and most of Europe in early November. (Reporting by David Shepardson; editing by John Stonestreet) ((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.
|
Oct 15 (Reuters) - The White House will announce on Friday it will lift travel restrictions for fully vaccinated foreign nationals from more than 30 countries, effective Nov. 8, at land borders and for air travel, a White House official said. Curbs on non-essential travelers have been in place since March 2020 to address the COVID-19 pandemic. The White House announced on Sept. 20 that the United States would lift restrictions on such air travelers from 33 countries including China, India, Brazil and most of Europe in early November.
|
4116.0
|
2021-10-14 00:00:00 UTC
|
Verizon says 30,000 U.S. employees must meet Dec. 8 vaccination deadline
|
AAL
|
https://www.nasdaq.com/articles/verizon-says-30000-u.s.-employees-must-meet-dec.-8-vaccination-deadline-2021-10-14
|
nan
|
nan
|
By David Shepardson
WASHINGTON, Oct 14 (Reuters) - Verizon Communications In VZ.N said on Thursday that about 30,000 non-union U.S. employees must show proof of vaccination against COVID-19 by Dec. 8 under President Joe Biden's federal contractor executive order.
Verizon, a federal contractor, said itwas in discussions with its unions about vaccination requirements. Verizon said retail employees and some other employees must be vaccinated by Feb. 1. Contractors, vendors, visitors and new hires who enter Verizon U.S. facilities must be fully vaccinated by Jan. 1.
Verizon said some "home-based" Verizon Consumer Group are excluded. "At the moment, this does not apply to our union-represented employees as we are in discussion with the unions," Verizon said.
"While we respect that within our workforce there are people with different beliefs and perspectives related to COVID-19 and the vaccine, we must comply with the government’s requirements, including those for federal contractors."
A growing number of federal contractors are complying with the Dec. 8 deadline.
Union Pacific Corp UNP.N, the top U.S. railroad operator, said on Wednesday it will require its 31,000 U.S. employees to be vaccinated.
Last month, U.S. passenger railroad Amtrak said it will require nearly all of its 18,000 employees be fully vaccinated by Nov. 22.
Boeing Co BA.N, another federal contractor, said on Tuesday it will require its 125,000 U.S. employees to be vaccinated.
Major U.S. airlines have said they will also meet the deadline imposed on federal contractors, including American Airlines AAL.O, Southwest Airlines Co LUV.N, JetBlue Airways Corp UNP.N and Alaska Airlines, as has aircraft parts manufacturer Spirit AeroSystems SPR.N.
The White House announced the Dec. 8 deadline for employees of federal contractors last month after Reuters reported it and the requirements are expected to cover millions of employees.
International Business Machines Corp UNP.N and Raytheon Technologies Corp have also said they will require all U.S. employees to be vaccinated.
(Reporting by David Shepardson; editing by Jonathan Oatis 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.
|
Major U.S. airlines have said they will also meet the deadline imposed on federal contractors, including American Airlines AAL.O, Southwest Airlines Co LUV.N, JetBlue Airways Corp UNP.N and Alaska Airlines, as has aircraft parts manufacturer Spirit AeroSystems SPR.N. By David Shepardson WASHINGTON, Oct 14 (Reuters) - Verizon Communications In VZ.N said on Thursday that about 30,000 non-union U.S. employees must show proof of vaccination against COVID-19 by Dec. 8 under President Joe Biden's federal contractor executive order. "While we respect that within our workforce there are people with different beliefs and perspectives related to COVID-19 and the vaccine, we must comply with the government’s requirements, including those for federal contractors."
|
Major U.S. airlines have said they will also meet the deadline imposed on federal contractors, including American Airlines AAL.O, Southwest Airlines Co LUV.N, JetBlue Airways Corp UNP.N and Alaska Airlines, as has aircraft parts manufacturer Spirit AeroSystems SPR.N. Verizon, a federal contractor, said itwas in discussions with its unions about vaccination requirements. The White House announced the Dec. 8 deadline for employees of federal contractors last month after Reuters reported it and the requirements are expected to cover millions of employees.
|
Major U.S. airlines have said they will also meet the deadline imposed on federal contractors, including American Airlines AAL.O, Southwest Airlines Co LUV.N, JetBlue Airways Corp UNP.N and Alaska Airlines, as has aircraft parts manufacturer Spirit AeroSystems SPR.N. By David Shepardson WASHINGTON, Oct 14 (Reuters) - Verizon Communications In VZ.N said on Thursday that about 30,000 non-union U.S. employees must show proof of vaccination against COVID-19 by Dec. 8 under President Joe Biden's federal contractor executive order. Verizon, a federal contractor, said itwas in discussions with its unions about vaccination requirements.
|
Major U.S. airlines have said they will also meet the deadline imposed on federal contractors, including American Airlines AAL.O, Southwest Airlines Co LUV.N, JetBlue Airways Corp UNP.N and Alaska Airlines, as has aircraft parts manufacturer Spirit AeroSystems SPR.N. Verizon, a federal contractor, said itwas in discussions with its unions about vaccination requirements. Union Pacific Corp UNP.N, the top U.S. railroad operator, said on Wednesday it will require its 31,000 U.S. employees to be vaccinated.
|
4117.0
|
2021-10-14 00:00:00 UTC
|
De Beers strikes deal with Namibia to extend Namdeb mine life to 2042
|
AAL
|
https://www.nasdaq.com/articles/de-beers-strikes-deal-with-namibia-to-extend-namdeb-mine-life-to-2042-2021-10-14
|
nan
|
nan
|
By Nyasha Nyaungwa
WINDHOEK, Oct 14 (Reuters) - Namdeb, a joint venture between the Namibian government and Anglo American's AAL.L diamond business De Beers Group, said on Thursday it has extended its land-based mines' life by 20 years to 2042, thanks in part to a mineral royalty discount.
Under the previous business plan, the land-based Namdeb mines would have come to the end of their life in 2022. De Beers also mines diamonds offshore Namibia through its Debmarine Namibia unit.
As part of the deal, Namibia offered Namdeb royalty relief from 2021 to 2025, with the royalty rate cut to 5% from 10%.
De Beers CEO Bruce Cleaver said at a press conference in Windhoek that maintaining viable and profitable operations was becoming difficult under the existing fiscal arrangements, given the age of the mines.
Namdeb will now be able to invest its profits to extend its mining operations, he said, and the new plan will enable eight million additional carats of Namibian diamonds to be produced. An estimated value of the new. An estimated value of the additional carats could not be immediately ascertained.
The life of mine extension will create 600 new jobs, the company said, in addition to Namdeb's existing 2,100 employees.
Namdeb CEO Riaan Burger said production will be ramped up over the next 2-1/2 years to approximately 160% of the current capacity, requiring a capital investment of around 1.8 billion Namibian dollars ($122 million) and a "significant" increase in operational cost.
Namibia's mines minister Tom Alweendo said the closure of Namdeb's mines would have been devastating.
"This decision benefits the sustainability of the life of mines, the national economy as well as preserving employment for our people and the livelihoods of families that depend on it," he said.
($1 = 14.7530 Namibian dollars)
(Reporting by Nyasha Nyaungwa in Windhoek, Editing by Helen Reid and Emelia Sithole-Matarise)
((Helen.Reid@thomsonreuters.com; +27 66 156 5214;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By Nyasha Nyaungwa WINDHOEK, Oct 14 (Reuters) - Namdeb, a joint venture between the Namibian government and Anglo American's AAL.L diamond business De Beers Group, said on Thursday it has extended its land-based mines' life by 20 years to 2042, thanks in part to a mineral royalty discount. De Beers CEO Bruce Cleaver said at a press conference in Windhoek that maintaining viable and profitable operations was becoming difficult under the existing fiscal arrangements, given the age of the mines. Namdeb CEO Riaan Burger said production will be ramped up over the next 2-1/2 years to approximately 160% of the current capacity, requiring a capital investment of around 1.8 billion Namibian dollars ($122 million) and a "significant" increase in operational cost.
|
By Nyasha Nyaungwa WINDHOEK, Oct 14 (Reuters) - Namdeb, a joint venture between the Namibian government and Anglo American's AAL.L diamond business De Beers Group, said on Thursday it has extended its land-based mines' life by 20 years to 2042, thanks in part to a mineral royalty discount. Under the previous business plan, the land-based Namdeb mines would have come to the end of their life in 2022. Namdeb will now be able to invest its profits to extend its mining operations, he said, and the new plan will enable eight million additional carats of Namibian diamonds to be produced.
|
By Nyasha Nyaungwa WINDHOEK, Oct 14 (Reuters) - Namdeb, a joint venture between the Namibian government and Anglo American's AAL.L diamond business De Beers Group, said on Thursday it has extended its land-based mines' life by 20 years to 2042, thanks in part to a mineral royalty discount. Namdeb will now be able to invest its profits to extend its mining operations, he said, and the new plan will enable eight million additional carats of Namibian diamonds to be produced. Namibia's mines minister Tom Alweendo said the closure of Namdeb's mines would have been devastating.
|
By Nyasha Nyaungwa WINDHOEK, Oct 14 (Reuters) - Namdeb, a joint venture between the Namibian government and Anglo American's AAL.L diamond business De Beers Group, said on Thursday it has extended its land-based mines' life by 20 years to 2042, thanks in part to a mineral royalty discount. De Beers also mines diamonds offshore Namibia through its Debmarine Namibia unit. Namdeb will now be able to invest its profits to extend its mining operations, he said, and the new plan will enable eight million additional carats of Namibian diamonds to be produced.
|
4118.0
|
2021-10-14 00:00:00 UTC
|
Is American Airlines Stock A Buy After Recent Dip?
|
AAL
|
https://www.nasdaq.com/articles/is-american-airlines-stock-a-buy-after-recent-dip-2021-10-14
|
nan
|
nan
|
As new infections decline, travel and entertainment stocks observe an uptick on anticipation of quick demand recovery in the coming months. However, airline stocks have been on a decline in the past week including American Airlines (NASDAQ: AAL) over concerns of rising operational costs majorly due to high benchmark prices. Despite strong domestic travel demand, AAL stock is likely to trade sideways in the coming month as indicated in our interactive dashboard, American Airlines Stock Price Forecast. The company plans to repay debt from excess operating cash in the next few years, but cost pressure is a headwind to the strategic plan. Currently, AAL’s net debt of $20 billion is sizably higher than its $13 billion market capitalization, as interest expense weighs on shareholder returns.
MACHINE LEARNING ENGINE – try it yourself:
IF AAL stock moved by -5% over five trading days, THEN over the next twenty-one trading days, AAL stock moves an average of 1.3 percent, with a 52.6% probability of a positive return over this period.
Some Fun Scenarios, FAQs & Making Sense of American Airlines Stock Movements:
Q1: Is the price forecast for American Airlines stock higher after a drop?
Answer:
Answer:
Consider two situations,
Case 1: American Airlines stock drops by -5% or more in a week
Case 2: American Airlines stock rises by 5% or more in a week
Is the price forecast for American Airlines stock higher over the subsequent month after Case 1 or Case 2?
AAL stock fares better after Case 1, with an expected return of 1.2% over the next month (21 trading days) under Case 1 (where the stock has just suffered a 5% loss over the previous week), versus, an expected return of 0.2% for Case 2. This implies a price forecast of $20.32 in Case 1 and a figure of $20.10 in Case 2 using AAL market price of $20.07 on 10/11/2021.
In comparison, the S&P 500 has an expected return of 3.1% over the next 21 trading days under Case 1, and an expected return of just 0.5% for Case 2 as detailed in our dashboard that details the expected return for the S&P 500 after a rise or drop.
Try the Trefis machine learning engine above to see for yourself how the forecast for American Airlines stock is likely to changes after any specific gain or loss over a period.
Question 2: Does patience pay?
Answer:
If you buy and hold American Airlines stock, the expectation is over time the near-term fluctuations will cancel out, and the long-term positive trend will favor you – at least if the company is otherwise strong.
Overall, according to data and Trefis machine learning engine’s calculations, patience absolutely pays for most stocks!
For AAL stock, the returns over the next N days after a -5% change over the last five trading days is detailed in the table below, along with the returns for the S&P500:
You can try the engine to see what this table looks like for American Airlines after a larger loss over the last week, month, or quarter.
Question 3: What about the average return after a rise if you wait for a while?
Answer:
The expected return after a rise is understandably lower than after a drop as detailed in Q1. Interestingly, though, if a stock has gained over the last few days, you would do better to avoid short-term bets for most stocks.
AAL stock returns over the next N days after a 5% change over the last five trading days is detailed in the table below, along with the returns for the S&P500:
It’s pretty powerful to test the trend for yourself for American Airlines stock by changing the inputs in the charts above.
What if you’re looking for a more balanced portfolio instead? Here’s a high-quality portfolio that’s beaten the market consistently since 2016.
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, airline stocks have been on a decline in the past week including American Airlines (NASDAQ: AAL) over concerns of rising operational costs majorly due to high benchmark prices. Despite strong domestic travel demand, AAL stock is likely to trade sideways in the coming month as indicated in our interactive dashboard, American Airlines Stock Price Forecast. Currently, AAL’s net debt of $20 billion is sizably higher than its $13 billion market capitalization, as interest expense weighs on shareholder returns.
|
Despite strong domestic travel demand, AAL stock is likely to trade sideways in the coming month as indicated in our interactive dashboard, American Airlines Stock Price Forecast. However, airline stocks have been on a decline in the past week including American Airlines (NASDAQ: AAL) over concerns of rising operational costs majorly due to high benchmark prices. Currently, AAL’s net debt of $20 billion is sizably higher than its $13 billion market capitalization, as interest expense weighs on shareholder returns.
|
AAL stock fares better after Case 1, with an expected return of 1.2% over the next month (21 trading days) under Case 1 (where the stock has just suffered a 5% loss over the previous week), versus, an expected return of 0.2% for Case 2. AAL stock returns over the next N days after a 5% change over the last five trading days is detailed in the table below, along with the returns for the S&P500: It’s pretty powerful to test the trend for yourself for American Airlines stock by changing the inputs in the charts above. However, airline stocks have been on a decline in the past week including American Airlines (NASDAQ: AAL) over concerns of rising operational costs majorly due to high benchmark prices.
|
Despite strong domestic travel demand, AAL stock is likely to trade sideways in the coming month as indicated in our interactive dashboard, American Airlines Stock Price Forecast. However, airline stocks have been on a decline in the past week including American Airlines (NASDAQ: AAL) over concerns of rising operational costs majorly due to high benchmark prices. Currently, AAL’s net debt of $20 billion is sizably higher than its $13 billion market capitalization, as interest expense weighs on shareholder returns.
|
4119.0
|
2021-10-13 00:00:00 UTC
|
Why Airline Stocks Like Southwest and United Got Grounded on Wednesday
|
AAL
|
https://www.nasdaq.com/articles/why-airline-stocks-like-southwest-and-united-got-grounded-on-wednesday-2021-10-13
|
nan
|
nan
|
What happened
Shares of most major airline stocks finished Wednesday's trading session well into the red. Southwest Airlines (NYSE: LUV) closed nearly 2% lower versus the S&P 500's (SNPINDEX: ^GSPC) slight gain, while peers and rivals United Airlines Holdings (NASDAQ: UAL) and American Airlines (NASDAQ: AAL) both fell more than 3%. Leading the charge lower, however, was Delta Air Lines (NYSE: DAL) with its 5.8% setback.
So what
One doesn't have to look far or long to identify plenty of headaches for the air travel industry.
Case(s) in point: The delta variant of COVID-19 is keeping some would-be travelers cautious for safety-minded reasons, while at the same time creating friction between airline employees and the airlines themselves; not every airline employee is keen on complying with vaccine mandates. Business travel spending is somewhat stifled, too, due to fears that an economic slowdown may be in the offing because of the lingering pandemic. The Global Business Travel Association reports that as of August, only 35% of businesses intended to send employees on business trips by plane within the following three months. That's down from July's measure of 68%.
Image source: Getty Images.
Then there's Southwest Airlines' recent operational debacle, resulting in the cancellations of roughly 2,500 flights this past weekend after its ticketing and scheduling platform was reportedly unable to handle a predictable staffing shortage. Its shares have been on the defensive since the week began, ending today's session down 5% from Friday's pre-glitch close.
If you're looking for today's bearish ringleader, however, look no further than Delta. Although the airline swung back to a pre-tax profit of $1.5 billion for the quarter ending in September, versus a loss of $6.9 billion in the comparable quarter of last year, CEO Ed Bastian warned investors on Wednesday that rising jet fuel costs are "going to be a limiter on our ability to post a profit in the quarter." Indeed, Bastian went on to explain, "At these current fuel levels, it looks like we'll have a modest loss" for the quarter now underway. For perspective, Delta says every $0.05 increase (per gallon) in fuel prices increases the carrier's operating costs by $40 million. Putting into perspective another way, jet fuel accounted for about one-fifth of the airline's operating costs last quarter.
Regardless of how it's quantified, in that other airlines are buying the same jet fuel at roughly the same price, Bastian's comments up-ended most airline stocks for the same reason Delta shareholders became so suddenly concerned.
Now what
The headwind will abate. It always does. Demand will recover, and operating costs -- particularly fuel costs -- will be pared back to more sustainable levels. Businesses are built to find the fair balance among supply, demand, pricing, and profitability.
In light of the fact that inflation could worsen before it cools again, though, this week's weakness from any airline stock isn't an entry opportunity for any investor not truly committed to a long-term position. Underscoring this near-term turbulence is today's inflation report from the U.S. Bureau of Labor Statistics. Consumers paid 5.4% more for basic goods and services last month than they did in September of last year, with gas and fuel oil prices jumping more than 40% year over year. Never even mind the other economic fallout on the horizon.
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 September 17, 2021
James Brumley has no position in any of the stocks mentioned. 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.
|
Southwest Airlines (NYSE: LUV) closed nearly 2% lower versus the S&P 500's (SNPINDEX: ^GSPC) slight gain, while peers and rivals United Airlines Holdings (NASDAQ: UAL) and American Airlines (NASDAQ: AAL) both fell more than 3%. What happened Shares of most major airline stocks finished Wednesday's trading session well into the red. Then there's Southwest Airlines' recent operational debacle, resulting in the cancellations of roughly 2,500 flights this past weekend after its ticketing and scheduling platform was reportedly unable to handle a predictable staffing shortage.
|
Southwest Airlines (NYSE: LUV) closed nearly 2% lower versus the S&P 500's (SNPINDEX: ^GSPC) slight gain, while peers and rivals United Airlines Holdings (NASDAQ: UAL) and American Airlines (NASDAQ: AAL) both fell more than 3%. Although the airline swung back to a pre-tax profit of $1.5 billion for the quarter ending in September, versus a loss of $6.9 billion in the comparable quarter of last year, CEO Ed Bastian warned investors on Wednesday that rising jet fuel costs are "going to be a limiter on our ability to post a profit in the quarter." Regardless of how it's quantified, in that other airlines are buying the same jet fuel at roughly the same price, Bastian's comments up-ended most airline stocks for the same reason Delta shareholders became so suddenly concerned.
|
Southwest Airlines (NYSE: LUV) closed nearly 2% lower versus the S&P 500's (SNPINDEX: ^GSPC) slight gain, while peers and rivals United Airlines Holdings (NASDAQ: UAL) and American Airlines (NASDAQ: AAL) both fell more than 3%. Case(s) in point: The delta variant of COVID-19 is keeping some would-be travelers cautious for safety-minded reasons, while at the same time creating friction between airline employees and the airlines themselves; not every airline employee is keen on complying with vaccine mandates. Although the airline swung back to a pre-tax profit of $1.5 billion for the quarter ending in September, versus a loss of $6.9 billion in the comparable quarter of last year, CEO Ed Bastian warned investors on Wednesday that rising jet fuel costs are "going to be a limiter on our ability to post a profit in the quarter."
|
Southwest Airlines (NYSE: LUV) closed nearly 2% lower versus the S&P 500's (SNPINDEX: ^GSPC) slight gain, while peers and rivals United Airlines Holdings (NASDAQ: UAL) and American Airlines (NASDAQ: AAL) both fell more than 3%. The Global Business Travel Association reports that as of August, only 35% of businesses intended to send employees on business trips by plane within the following three months. * 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!
|
4120.0
|
2021-10-13 00:00:00 UTC
|
Why Spirit Airlines Stock Fell Today
|
AAL
|
https://www.nasdaq.com/articles/why-spirit-airlines-stock-fell-today-2021-10-13
|
nan
|
nan
|
What happened
On Wednesday, Delta Air Lines (NYSE: DAL) sounded the alarm about rising fuel costs. Investors reacted by sending shares of the entire airline industry down, with Spirit Airlines (NYSE: SAVE) shares falling as much as 5% during the day's trading.
So what
The airline industry was hit hard by the pandemic, but has slowly made its way back in 2021 as vaccination rates climbed and more people started traveling again. On Wednesday, Delta said that it generated a profit for the third quarter. But the airline also provided a warning that the recovery will not be without turbulence.
Image source: Spirit Airlines.
Delta said it expects to pay an average of $2.40 per gallon for fuel in the current quarter, up from $1.94 per gallon in the recently completed third quarter. Fuel is the biggest non-labor cost for airlines, so the added few pennies will make a real difference. The additional cost is likely to push Delta into the red in the fourth quarter, even if COVID-19 infection rates continue to decline and demand continues to grow.
Delta is the first airline to report quarterly results, and investors are anticipating that other airlines will face the same issues it sees. Delta is still seeing reduced demand, especially for international travel. Compared to the third quarter of 2019, domestic revenue was down 28% and international was down 58%.
Now what
The good news is the airlines are seeing a recovery from the pandemic. The bad news is this is still a difficult industry. Delta's warning caused share declines at a number of carriers including American Airlines Group and United Airlines Holdings, but Spirit fell more than any of them.
Spirit is an attractive investment in part because its costs are among the lowest in the industry, meaning it can win price wars against other airlines. But fuel can be a great equalizer: Spirit's cost advantages are mostly due to labor and operational efficiencies. In an environment where fuel costs are driving fares, and not non-fuel costs, it is harder for Spirit to stand out.
For long-term minded investors, there is still a lot to like about Spirit's competitive position and growth potential. But if the last year and a half has shown anything, it is that nothing ever comes easy in the airline industry. Spirit shares reflected that reality on Wednesday.
10 stocks we like better than Spirit Airlines
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 Spirit Airlines 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 September 17, 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. 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.
|
What happened On Wednesday, Delta Air Lines (NYSE: DAL) sounded the alarm about rising fuel costs. So what The airline industry was hit hard by the pandemic, but has slowly made its way back in 2021 as vaccination rates climbed and more people started traveling again. Spirit is an attractive investment in part because its costs are among the lowest in the industry, meaning it can win price wars against other airlines.
|
See the 10 stocks *Stock Advisor returns as of September 17, 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.
|
Investors reacted by sending shares of the entire airline industry down, with Spirit Airlines (NYSE: SAVE) shares falling as much as 5% during the day's trading. Delta's warning caused share declines at a number of carriers including American Airlines Group and United Airlines Holdings, but Spirit fell more than any of them. See the 10 stocks *Stock Advisor returns as of September 17, 2021 Lou Whiteman owns shares of Delta Air Lines and Spirit Airlines.
|
Spirit shares reflected that reality on Wednesday. See the 10 stocks *Stock Advisor returns as of September 17, 2021 Lou Whiteman owns shares of Delta Air Lines and Spirit Airlines. The Motley Fool owns shares of and recommends Spirit Airlines.
|
4121.0
|
2021-10-13 00:00:00 UTC
|
Flying taxis to take to the sky in mid-2020s, says UK's Vertical Aerospace
|
AAL
|
https://www.nasdaq.com/articles/flying-taxis-to-take-to-the-sky-in-mid-2020s-says-uks-vertical-aerospace-2021-10-13
|
nan
|
nan
|
By Sarah Young
LONDON, Oct 13 (Reuters) - Fed up with traffic jams? Imagine a world where your taxi takes to the skies and lands on top of your office building, recharges and sets off afresh.
That's the vision of Stephen Fitzpatrick, founder and CEO of Britain's Vertical Aerospace, which is set to raise $394 million in a merger with a blank-cheque New York-listed company, and who says his aircraft will be flying by the mid-2020s.
And he's not alone. Some of the world's most high-profile engineers and airlines believe Vertical is onto something with its plan for zero-emission mini-aircraft to almost silently take four passengers through the skies for up to 120 miles (193 kms).
American Airlines AAL.O, aircraft lessor Avolon, engineers Honeywell HON.N and Rolls-Royce RR.L, as well as Microsoft’s MSFT.O M12 unit are investing in the merger, which is expected to complete by the end of the year.
Fitzpatrick, who also set up OVO Energy, Britain's no.3 energy retailer, said Vertical flights between London's Heathrow airport and its Canary Wharf financial district will take 15 minutes and cost 50 pounds ($68) per passenger.
That potential is attracting airlines' attention. More than 1,000 VA-X4 aircraft have been pre-ordered by customers. Interest in the zero-emission aircraft comes at a time when aviation companies are under mounting pressure from investors to help decarbonize the sector and boost their environmental, social and governance scores.
"We are going to sign deals. We're finding the appetite and the demand from airlines to be really strong," Fitzpatrick told Reuters.
The biggest challenge for Vertical is certifying its aircraft, which Fitzpatrick said it is on track to do by the end of 2024, funded by new money from the merger.
TEST FLIGHTS
Fitzpatrick first had the idea back in 2015 when he sat for hours in 10 lanes of gridlocked traffic in Sao Paulo, Brazil.
Back then, there weren't many competitors, he said, but today analysts estimate there are more than 100 companies working on rival electric Vertical Take-Off and Landing (eVOTL) aircraft.
The VA-X4 is still in construction and will start test flights early next year. Fitzpatrick believes Vertical's partnerships will help it emerge as a winner.
Using battery technology from the car industry, and tried and tested electrical propulsion units and motors, and backed by Honeywell's electronics, Fitzpatrick has "no doubt" that the VA-X4 will fly.
Certification will depend on the European Union Aviation Safety Agency (EASA).
"The process of certifying the aircraft is known. The technologies are new, but the steps we need to go through are relatively similar to other aircraft," said Fitzpatrick, who has recruited senior engineers from both Airbus and Rolls-Royce.
Developing a new mode of transport comes with other challenges such as the infrastructure, but Fitzpatrick is confident.
"We're already in discussions with, for example, Heathrow Airport," he said, pointing out of his office window to potential skyport locations on rooftops.
As for convincing passengers, that's where airlines come in.
"I think the brand association with trusted airlines is really going to help passengers embrace the new technology," he said.
($1 = 0.7339 pounds)
(Reporting by Sarah Young; Editing by Emelia Sithole-Matarise)
((sarah.young@thomsonreuters.com; +44 20 7542 1109; Reuters Messaging: sarah.young.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.
|
American Airlines AAL.O, aircraft lessor Avolon, engineers Honeywell HON.N and Rolls-Royce RR.L, as well as Microsoft’s MSFT.O M12 unit are investing in the merger, which is expected to complete by the end of the year. That's the vision of Stephen Fitzpatrick, founder and CEO of Britain's Vertical Aerospace, which is set to raise $394 million in a merger with a blank-cheque New York-listed company, and who says his aircraft will be flying by the mid-2020s. Interest in the zero-emission aircraft comes at a time when aviation companies are under mounting pressure from investors to help decarbonize the sector and boost their environmental, social and governance scores.
|
American Airlines AAL.O, aircraft lessor Avolon, engineers Honeywell HON.N and Rolls-Royce RR.L, as well as Microsoft’s MSFT.O M12 unit are investing in the merger, which is expected to complete by the end of the year. Fitzpatrick, who also set up OVO Energy, Britain's no.3 energy retailer, said Vertical flights between London's Heathrow airport and its Canary Wharf financial district will take 15 minutes and cost 50 pounds ($68) per passenger. Using battery technology from the car industry, and tried and tested electrical propulsion units and motors, and backed by Honeywell's electronics, Fitzpatrick has "no doubt" that the VA-X4 will fly.
|
American Airlines AAL.O, aircraft lessor Avolon, engineers Honeywell HON.N and Rolls-Royce RR.L, as well as Microsoft’s MSFT.O M12 unit are investing in the merger, which is expected to complete by the end of the year. That's the vision of Stephen Fitzpatrick, founder and CEO of Britain's Vertical Aerospace, which is set to raise $394 million in a merger with a blank-cheque New York-listed company, and who says his aircraft will be flying by the mid-2020s. Fitzpatrick, who also set up OVO Energy, Britain's no.3 energy retailer, said Vertical flights between London's Heathrow airport and its Canary Wharf financial district will take 15 minutes and cost 50 pounds ($68) per passenger.
|
American Airlines AAL.O, aircraft lessor Avolon, engineers Honeywell HON.N and Rolls-Royce RR.L, as well as Microsoft’s MSFT.O M12 unit are investing in the merger, which is expected to complete by the end of the year. The biggest challenge for Vertical is certifying its aircraft, which Fitzpatrick said it is on track to do by the end of 2024, funded by new money from the merger. As for convincing passengers, that's where airlines come in.
|
4122.0
|
2021-10-13 00:00:00 UTC
|
Texas vaccine mandate ban likely to be trumped by federal law but could cause uncertainty
|
AAL
|
https://www.nasdaq.com/articles/texas-vaccine-mandate-ban-likely-to-be-trumped-by-federal-law-but-could-cause-uncertainty
|
nan
|
nan
|
By Tom Hals
Oct 13 (Reuters) - Texas Governor Greg Abbott's ban on COVID-19 vaccine mandates will likely be superseded by the Biden administration plan to require shots for workers, but the dueling rules could take months to sort out in court, creating uncertainty for employers with business in the state.
The Republican governor signed an executive order on Monday banning private employers and other entities from imposing COVID-19 vaccine mandates, which he said threatened an economic recovery by disrupting the workforce. Some large employers are betting that federal law and President Joe Biden's vaccine mandates will trump Abbott's executive order.
Southwest Airlines Co LUV.N and American Airlines AAL.O, both based in Texas, said on Tuesday they would move ahead with plans to meet a Dec. 8 deadline for federal contractors to have their employees vaccinated.
"Companies recognize they have to comply with one or the other but not both, and the Texas order is more likely to be struck down than the federal order," said Steve Cave, a King & Spalding attorney who specializes in government contracts.
The supremacy clause of the U.S. Constitution prohibits states from interfering with valid federal laws.
Abbott's order states that "no entity in Texas" can compel proof of vaccination by any individual, including employees or customers. Failure to comply could result in a fine of $1,000, although Abbott did not say how the order would be enforced.
Biden's administration announced on Sept. 9 a plan that will require about 100 million American workers to get vaccinated or submit to weekly testing. Many of the plans have yet to be detailed and do not yet have the force of law.
Biden, a Democrat, issued the mandate as his administration struggled to control the pandemic, which has killed more than 700,000 Americans. Critics of mandates view them as unconstitutional and authoritarian, but proponents see them as necessary to pull the country out of the nearly two-year pandemic and return to normalcy.
Businesses could choose to test Abbott's order by imposing mandates and then, if fined, challenging the fine in court.
Companies would likely argue they were complying with Biden's mandate, and legal precedents support federal law taking precedence over state law when they conflict, experts aid.
"This is going to turn into a fight about who has supremacy over the other and there's a game of chicken between Governor Abbott and the Biden administration," Cave said.
'HAVING TO THREAD THE NEEDLE'
Florida offers an example of how it might play out.
Norwegian Cruise Line Holdings Ltd NCLH.Nin August won a court battle over a Florida law forbidding it from requiring customers to show proof of vaccination, which the cruise line said it had to do to comply with federal health regulations. The judge called the company's argument "compelling."
Employers could face hurdles, however, in the Texas case.
The biggest part of Biden's vaccination plan relies on emergency workplace safety rules that will soon be issued by the Occupational Safety and Health Administration (OSHA).
Once those rules are written, 24 state attorneys general have pledged to fight them.
Some legal experts suggested the OSHA rule could be blocked if challengers can show the government cannot prove there is a national "grave danger" as required by law.
If OSHA's rule is tied up in court or determined to be invalid, it could make it harder to claim federal law should pre-empt Abbott's order.
Given the uncertainty, businesses could try to comply with both orders.
Kevin Troutman, an attorney in the Houston office of Fisher Phillips, which represents employers, said businesses could allow employees to opt out of vaccines if they submit to weekly testing, which the Biden administration has said could be an alternative to vaccination.
"It could make the option of testing something more employers want to consider and implement more widely," he said. "It requires more planning and attention and it creates more headaches."
Brian Dean Abramson, a specialist and author on vaccine law, questioned if Texas would actually enforce the mandate ban by going after employers. But he said the threat was probably enough for most businesses to take action.
"The employer will be in a position of having to thread the needle of establishing a vaccine policy that doesn’t run afoul of what Abbott requires and run afoul of what the Biden administration is requiring," he said. "But ultimately federal law will be supreme."
(Reporting by Tom Hals in Wilmington, Delaware; Additional reporting by Rajesh Kumar Singh in Chicago; Editing by Noeleen Walder and Peter Cooney)
((thomas.hals@thomsonreuters.com; +1 610 544 2712; Reuters Messaging: thomas.hals.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.
|
Southwest Airlines Co LUV.N and American Airlines AAL.O, both based in Texas, said on Tuesday they would move ahead with plans to meet a Dec. 8 deadline for federal contractors to have their employees vaccinated. By Tom Hals Oct 13 (Reuters) - Texas Governor Greg Abbott's ban on COVID-19 vaccine mandates will likely be superseded by the Biden administration plan to require shots for workers, but the dueling rules could take months to sort out in court, creating uncertainty for employers with business in the state. The Republican governor signed an executive order on Monday banning private employers and other entities from imposing COVID-19 vaccine mandates, which he said threatened an economic recovery by disrupting the workforce.
|
Southwest Airlines Co LUV.N and American Airlines AAL.O, both based in Texas, said on Tuesday they would move ahead with plans to meet a Dec. 8 deadline for federal contractors to have their employees vaccinated. By Tom Hals Oct 13 (Reuters) - Texas Governor Greg Abbott's ban on COVID-19 vaccine mandates will likely be superseded by the Biden administration plan to require shots for workers, but the dueling rules could take months to sort out in court, creating uncertainty for employers with business in the state. Businesses could choose to test Abbott's order by imposing mandates and then, if fined, challenging the fine in court.
|
Southwest Airlines Co LUV.N and American Airlines AAL.O, both based in Texas, said on Tuesday they would move ahead with plans to meet a Dec. 8 deadline for federal contractors to have their employees vaccinated. By Tom Hals Oct 13 (Reuters) - Texas Governor Greg Abbott's ban on COVID-19 vaccine mandates will likely be superseded by the Biden administration plan to require shots for workers, but the dueling rules could take months to sort out in court, creating uncertainty for employers with business in the state. Some large employers are betting that federal law and President Joe Biden's vaccine mandates will trump Abbott's executive order.
|
Southwest Airlines Co LUV.N and American Airlines AAL.O, both based in Texas, said on Tuesday they would move ahead with plans to meet a Dec. 8 deadline for federal contractors to have their employees vaccinated. Abbott's order states that "no entity in Texas" can compel proof of vaccination by any individual, including employees or customers. Biden's administration announced on Sept. 9 a plan that will require about 100 million American workers to get vaccinated or submit to weekly testing.
|
4123.0
|
2021-10-12 00:00:00 UTC
|
Rebuffing Texas governor, American Airlines, Southwest stand by vaccine mandate
|
AAL
|
https://www.nasdaq.com/articles/rebuffing-texas-governor-american-airlines-southwest-stand-by-vaccine-mandate-2021-10-12
|
nan
|
nan
|
By Rajesh Kumar Singh and Sanjana Shivdas
CHICAGO, Oct 12 (Reuters) - Rebuffing the Texas governor, American Airlines AAL.O and Southwest Airlines LUV.N said on Tuesday they would comply with U.S. President Joe Biden's executive order to require their employees be vaccinated for COVID-19 by a Dec. 8 deadline.
The two Texas-based carriers said the federal mandate superseded an order by Republican Governor Greg Abbott barring COVID-19 vaccine mandates by any entity, including private employers.
Southwest said it "would be expected to comply with the President's Order to remain compliant as a federal contractor." American said while it was reviewing Abbott's executive order, "this does not change anything" for the company.
Both carriers have asked U.S.-based employees to submit proof of vaccination by Nov. 24.
Biden issued his mandate last month as his administration struggled to control the pandemic, which has killed more than 700,000 Americans. It covers all federal contractors.
While supporters of vaccine mandates see them as necessary to pull the country out of the nearly two-year-old pandemic, critics are calling them unconstitutional and authoritarian.
In his executive order, Abbott said the Biden administration was "bullying" many private entities into imposing COVID-19 vaccine mandates, causing workforce disruptions.
In its response, the White House said on Tuesday that Abbott's order was out of step with businesses in the state. Press secretary Jen Psaki said the governor's decision was motivated by politics, not science.
(Reporting by Rajesh Kumar Singh in Chicago and Sanjana Shivdas in Bengaluru; Editing by Howard Goller)
((rajeshkumar.singh@thomsonreuters.com; +1-313-484-5370))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By Rajesh Kumar Singh and Sanjana Shivdas CHICAGO, Oct 12 (Reuters) - Rebuffing the Texas governor, American Airlines AAL.O and Southwest Airlines LUV.N said on Tuesday they would comply with U.S. President Joe Biden's executive order to require their employees be vaccinated for COVID-19 by a Dec. 8 deadline. While supporters of vaccine mandates see them as necessary to pull the country out of the nearly two-year-old pandemic, critics are calling them unconstitutional and authoritarian. In his executive order, Abbott said the Biden administration was "bullying" many private entities into imposing COVID-19 vaccine mandates, causing workforce disruptions.
|
By Rajesh Kumar Singh and Sanjana Shivdas CHICAGO, Oct 12 (Reuters) - Rebuffing the Texas governor, American Airlines AAL.O and Southwest Airlines LUV.N said on Tuesday they would comply with U.S. President Joe Biden's executive order to require their employees be vaccinated for COVID-19 by a Dec. 8 deadline. The two Texas-based carriers said the federal mandate superseded an order by Republican Governor Greg Abbott barring COVID-19 vaccine mandates by any entity, including private employers. In his executive order, Abbott said the Biden administration was "bullying" many private entities into imposing COVID-19 vaccine mandates, causing workforce disruptions.
|
By Rajesh Kumar Singh and Sanjana Shivdas CHICAGO, Oct 12 (Reuters) - Rebuffing the Texas governor, American Airlines AAL.O and Southwest Airlines LUV.N said on Tuesday they would comply with U.S. President Joe Biden's executive order to require their employees be vaccinated for COVID-19 by a Dec. 8 deadline. The two Texas-based carriers said the federal mandate superseded an order by Republican Governor Greg Abbott barring COVID-19 vaccine mandates by any entity, including private employers. In his executive order, Abbott said the Biden administration was "bullying" many private entities into imposing COVID-19 vaccine mandates, causing workforce disruptions.
|
By Rajesh Kumar Singh and Sanjana Shivdas CHICAGO, Oct 12 (Reuters) - Rebuffing the Texas governor, American Airlines AAL.O and Southwest Airlines LUV.N said on Tuesday they would comply with U.S. President Joe Biden's executive order to require their employees be vaccinated for COVID-19 by a Dec. 8 deadline. Southwest said it "would be expected to comply with the President's Order to remain compliant as a federal contractor." In his executive order, Abbott said the Biden administration was "bullying" many private entities into imposing COVID-19 vaccine mandates, causing workforce disruptions.
|
4124.0
|
2021-10-12 00:00:00 UTC
|
US STOCKS-Wall Street closes lower on jitters ahead of earnings, Fed minutes
|
AAL
|
https://www.nasdaq.com/articles/us-stocks-wall-street-closes-lower-on-jitters-ahead-of-earnings-fed-minutes-2021-10-12-0
|
nan
|
nan
|
By Caroline Valetkevitch and Stephen Culp
NEW YORK, Oct 12 (Reuters) - U.S. stocks finished lower on Tuesday, extending losses late as investors grew more jittery in the run up to third-quarter earnings, while a jump in Tesla shares helped support the market.
Adding to investor caution, the Federal Reserve is expected to release minutes on Wednesday from its last policy meeting, which market participants will scour for hints about when the U.S. central bank could begin tapering its massive bond-buying program.
All three major U.S. stock indexes ended in the red with the Dow down the most, weighed by healthcare .SPXHC and industrials .SPLRCI.
Earnings unofficially kick off this week with results from JPMorgan Chase & Co JPM.N on Wednesday and other banks to follow. JPMorgan's shares shed 0.8% on the day, while the S&P 500 banks index .SPXBK edged down 0.6%.
Analysts expect to see strong U.S. profit growth for the third quarter. But a number of companies have warned of issues and investors are worried about how supply chain problems and higher prices will affect businesses emerging from the coronavirus pandemic.
"For the most part, institutional portfolio managers are of the view - let's see what earnings look like and how much of a negative impact is being seen from shortages, higher rates and supply chain bottlenecks," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles.
"A lot of those factors are currently reflected where equity prices are now."
The Dow Jones Industrial Average .DJIfell 117.72 points, or 0.34%, to 34,378.34, the S&P 500 .SPXlost 10.54 points, or 0.24%, to 4,350.65 and the Nasdaq Composite .IXICdropped 20.28 points, or 0.14%, to 14,465.93.
Six of the 11 major sectors of the S&P 500 ended the session in the red, with communications services .SPLRCL suffering the steepest percentage loss.
Tesla TSLA.Oadvanced 1.7% after data showed the electric vehicle maker sold 56,006 China-made vehicles in September, the highest since it started production in Shanghai about two years ago. The company's shares provided the biggest boost to the S&P 500 and the Nasdaq.
Shares of American Airlines Group AAL.O rose 0.8% after the company estimated a smaller-than-expected adjusted loss for the third quarter and signaled improved bookings for the rest of the year.
MGM Resorts MGM.N surged 9.6% after of Credit Suisse upgraded the stock to "outperform" from "neutral."
Nike Inc NKE.N gained 2.0% after Goldman Sachs initiated coverage with a "buy" recommendation.
Investors also weighed comments from Fed Vice Chair Richard Clarida, who said the central bank has all but met its employment goal for reducing its bond buying program.
U.S. data showed the labor market remained tight, with a record number of Americans quitting their jobs and job vacancies numbering more than 10 million, stoking inflation fears as employers hike wages to attract and retain workers.
Wednesday's consumer price index report will attract attention from investors seeking clues about inflation.
Advancing issues outnumbered declining ones on the NYSE by a 1.38-to-1 ratio; on Nasdaq, a 1.42-to-1 ratio favored advancers.
The S&P 500 posted 10 new 52-week highs and 10 new lows; the Nasdaq Composite recorded 46 new highs and 94 new lows.
Volume on U.S. exchanges was 9.17 billion shares, compared with the 10.80 billion average over the last 20 trading days.
(Additional reporting by Devik Jain, Shreyashi Sanyal in Bengaluru and Federica Urso in Gdansk; Editing by Saumyadeb Chakrabarty, Arun Koyyur and David Gregorio)
((caroline.valetkevitch@thomsonreuters.com; +1 646 223 6393; Reuters Messaging: caroline.valetkevitch.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.
|
Shares of American Airlines Group AAL.O rose 0.8% after the company estimated a smaller-than-expected adjusted loss for the third quarter and signaled improved bookings for the rest of the year. By Caroline Valetkevitch and Stephen Culp NEW YORK, Oct 12 (Reuters) - U.S. stocks finished lower on Tuesday, extending losses late as investors grew more jittery in the run up to third-quarter earnings, while a jump in Tesla shares helped support the market. Adding to investor caution, the Federal Reserve is expected to release minutes on Wednesday from its last policy meeting, which market participants will scour for hints about when the U.S. central bank could begin tapering its massive bond-buying program.
|
Shares of American Airlines Group AAL.O rose 0.8% after the company estimated a smaller-than-expected adjusted loss for the third quarter and signaled improved bookings for the rest of the year. All three major U.S. stock indexes ended in the red with the Dow down the most, weighed by healthcare .SPXHC and industrials .SPLRCI. Wednesday's consumer price index report will attract attention from investors seeking clues about inflation.
|
Shares of American Airlines Group AAL.O rose 0.8% after the company estimated a smaller-than-expected adjusted loss for the third quarter and signaled improved bookings for the rest of the year. By Caroline Valetkevitch and Stephen Culp NEW YORK, Oct 12 (Reuters) - U.S. stocks finished lower on Tuesday, extending losses late as investors grew more jittery in the run up to third-quarter earnings, while a jump in Tesla shares helped support the market. Adding to investor caution, the Federal Reserve is expected to release minutes on Wednesday from its last policy meeting, which market participants will scour for hints about when the U.S. central bank could begin tapering its massive bond-buying program.
|
Shares of American Airlines Group AAL.O rose 0.8% after the company estimated a smaller-than-expected adjusted loss for the third quarter and signaled improved bookings for the rest of the year. By Caroline Valetkevitch and Stephen Culp NEW YORK, Oct 12 (Reuters) - U.S. stocks finished lower on Tuesday, extending losses late as investors grew more jittery in the run up to third-quarter earnings, while a jump in Tesla shares helped support the market. All three major U.S. stock indexes ended in the red with the Dow down the most, weighed by healthcare .SPXHC and industrials .SPLRCI.
|
4125.0
|
2021-10-12 00:00:00 UTC
|
American Airlines sees smaller-than-expected third-quarter loss
|
AAL
|
https://www.nasdaq.com/articles/american-airlines-sees-smaller-than-expected-third-quarter-loss-2021-10-12
|
nan
|
nan
|
Adds details on the forecast, share movement
Oct 12 (Reuters) - American Airlines AAL.O forecast on Tuesday a smaller-than-expected adjusted net loss for the third quarter as the U.S. airline hopes to take advantage of holiday season demand from travelers who did not see friends and family last year.
The company's shares rose 1.1% to $20.36 in premarket trading.
After a strong summer travel season, airlines had to temper their outlook for the quarter through September as the fast-spreading Delta variant of the coronavirus slowed down new bookings and drove up cancellations.
However, dipping COVID-19 cases have now raised industry hopes that passengers would be more confident to fly again.
Excluding items, American expects to report a net loss of between $620 million and $675 million in the third quarter. Analysts on average had expected the company to report a loss of $741.7 million.
The U.S. airline expects third-quarter revenue to fall about 25% from 2019, compared with a prior outlook of down between 24% and 28%.
(Reporting by Sanjana Shivdas in Bengaluru; Editing by Vinay Dwivedi and Uttaresh.V)
((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1642; Twitter: @SanjanaShivdas;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Adds details on the forecast, share movement Oct 12 (Reuters) - American Airlines AAL.O forecast on Tuesday a smaller-than-expected adjusted net loss for the third quarter as the U.S. airline hopes to take advantage of holiday season demand from travelers who did not see friends and family last year. After a strong summer travel season, airlines had to temper their outlook for the quarter through September as the fast-spreading Delta variant of the coronavirus slowed down new bookings and drove up cancellations. However, dipping COVID-19 cases have now raised industry hopes that passengers would be more confident to fly again.
|
Adds details on the forecast, share movement Oct 12 (Reuters) - American Airlines AAL.O forecast on Tuesday a smaller-than-expected adjusted net loss for the third quarter as the U.S. airline hopes to take advantage of holiday season demand from travelers who did not see friends and family last year. After a strong summer travel season, airlines had to temper their outlook for the quarter through September as the fast-spreading Delta variant of the coronavirus slowed down new bookings and drove up cancellations. Excluding items, American expects to report a net loss of between $620 million and $675 million in the third quarter.
|
Adds details on the forecast, share movement Oct 12 (Reuters) - American Airlines AAL.O forecast on Tuesday a smaller-than-expected adjusted net loss for the third quarter as the U.S. airline hopes to take advantage of holiday season demand from travelers who did not see friends and family last year. After a strong summer travel season, airlines had to temper their outlook for the quarter through September as the fast-spreading Delta variant of the coronavirus slowed down new bookings and drove up cancellations. Excluding items, American expects to report a net loss of between $620 million and $675 million in the third quarter.
|
Adds details on the forecast, share movement Oct 12 (Reuters) - American Airlines AAL.O forecast on Tuesday a smaller-than-expected adjusted net loss for the third quarter as the U.S. airline hopes to take advantage of holiday season demand from travelers who did not see friends and family last year. After a strong summer travel season, airlines had to temper their outlook for the quarter through September as the fast-spreading Delta variant of the coronavirus slowed down new bookings and drove up cancellations. Excluding items, American expects to report a net loss of between $620 million and $675 million in the third quarter.
|
4126.0
|
2021-10-12 00:00:00 UTC
|
Rebuffing Texas governor, American Airlines, Southwest stand by vaccine mandate
|
AAL
|
https://www.nasdaq.com/articles/rebuffing-texas-governor-american-airlines-southwest-stand-by-vaccine-mandate-2021-10-13
|
nan
|
nan
|
By Rajesh Kumar Singh and Sanjana Shivdas
CHICAGO, Oct 12 (Reuters) - Rebuffing the Texas governor, American Airlines AAL.O and Southwest Airlines LUV.N said on Tuesday they would comply with U.S. President Joe Biden's executive order to require that their employees be vaccinated for COVID-19 by a Dec. 8 deadline.
The two Texas-based carriers said the federal mandate superseded an order by Republican Governor Greg Abbott barring COVID-19 vaccine mandates by any entity, including private employers.
Southwest said it "would be expected to comply with the President's Order to remain compliant as a federal contractor." American said while it was reviewing Abbott's executive order, "this does not change anything" for the company.
Both carriers have asked U.S.-based employees to submit proof of vaccination by Nov. 24.
Biden issued his mandate last month as his administration struggled to control the pandemic, which has killed more than 700,000 Americans. It covers all federal contractors.
While supporters of vaccine mandates see them as necessary to pull the country out of the nearly two-year-old pandemic, critics are calling them unconstitutional and authoritarian.
Six employees of United Airlines UAL.O, which became the first U.S. carrier in August to require vaccinations for all domestic employees, have filed a class action in federal court in Texas claiming that workers who sought exemptions from the vaccine mandate were subjected to intrusive inquiries about their medical conditions or religious beliefs, including a requirement that they obtain letters from pastors.
The court, which is due to hear the case on Wednesday, issued an order on Tuesday restraining the airline until Oct. 26 from placing on unpaid leave any employee who receives religious or medical exemptions from the company for COVID-19 vaccinations.
The court also temporarily restrained United from denying any late requests for religious or medical accommodations.
In his executive order, Abbott said the Biden administration was "bullying" many private entities into imposing COVID-19 vaccine mandates, causing workforce disruptions.
In its response, the White House said on Tuesday that Abbott's order was out of step with businesses in the state. Press secretary Jen Psaki said the governor's decision was motivated by politics, not science.
(Reporting by Rajesh Kumar Singh in Chicago and Sanjana Shivdas in Bengaluru; Editing by Howard Goller and Sandra Maler)
((rajeshkumar.singh@thomsonreuters.com; +1-313-484-5370))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By Rajesh Kumar Singh and Sanjana Shivdas CHICAGO, Oct 12 (Reuters) - Rebuffing the Texas governor, American Airlines AAL.O and Southwest Airlines LUV.N said on Tuesday they would comply with U.S. President Joe Biden's executive order to require that their employees be vaccinated for COVID-19 by a Dec. 8 deadline. Six employees of United Airlines UAL.O, which became the first U.S. carrier in August to require vaccinations for all domestic employees, have filed a class action in federal court in Texas claiming that workers who sought exemptions from the vaccine mandate were subjected to intrusive inquiries about their medical conditions or religious beliefs, including a requirement that they obtain letters from pastors. The court, which is due to hear the case on Wednesday, issued an order on Tuesday restraining the airline until Oct. 26 from placing on unpaid leave any employee who receives religious or medical exemptions from the company for COVID-19 vaccinations.
|
By Rajesh Kumar Singh and Sanjana Shivdas CHICAGO, Oct 12 (Reuters) - Rebuffing the Texas governor, American Airlines AAL.O and Southwest Airlines LUV.N said on Tuesday they would comply with U.S. President Joe Biden's executive order to require that their employees be vaccinated for COVID-19 by a Dec. 8 deadline. The two Texas-based carriers said the federal mandate superseded an order by Republican Governor Greg Abbott barring COVID-19 vaccine mandates by any entity, including private employers. In his executive order, Abbott said the Biden administration was "bullying" many private entities into imposing COVID-19 vaccine mandates, causing workforce disruptions.
|
By Rajesh Kumar Singh and Sanjana Shivdas CHICAGO, Oct 12 (Reuters) - Rebuffing the Texas governor, American Airlines AAL.O and Southwest Airlines LUV.N said on Tuesday they would comply with U.S. President Joe Biden's executive order to require that their employees be vaccinated for COVID-19 by a Dec. 8 deadline. The two Texas-based carriers said the federal mandate superseded an order by Republican Governor Greg Abbott barring COVID-19 vaccine mandates by any entity, including private employers. Six employees of United Airlines UAL.O, which became the first U.S. carrier in August to require vaccinations for all domestic employees, have filed a class action in federal court in Texas claiming that workers who sought exemptions from the vaccine mandate were subjected to intrusive inquiries about their medical conditions or religious beliefs, including a requirement that they obtain letters from pastors.
|
By Rajesh Kumar Singh and Sanjana Shivdas CHICAGO, Oct 12 (Reuters) - Rebuffing the Texas governor, American Airlines AAL.O and Southwest Airlines LUV.N said on Tuesday they would comply with U.S. President Joe Biden's executive order to require that their employees be vaccinated for COVID-19 by a Dec. 8 deadline. Six employees of United Airlines UAL.O, which became the first U.S. carrier in August to require vaccinations for all domestic employees, have filed a class action in federal court in Texas claiming that workers who sought exemptions from the vaccine mandate were subjected to intrusive inquiries about their medical conditions or religious beliefs, including a requirement that they obtain letters from pastors. In his executive order, Abbott said the Biden administration was "bullying" many private entities into imposing COVID-19 vaccine mandates, causing workforce disruptions.
|
4127.0
|
2021-10-12 00:00:00 UTC
|
Wall Street closes lower on jitters ahead of earnings, Fed minutes
|
AAL
|
https://www.nasdaq.com/articles/wall-street-closes-lower-on-jitters-ahead-of-earnings-fed-minutes-2021-10-12
|
nan
|
nan
|
By Caroline Valetkevitch and Stephen Culp
NEW YORK, Oct 12 (Reuters) - U.S. stocks finished lower on Tuesday, with investors jittery in the run up to third-quarter earnings, while a jump in Tesla shares helped support the market.
Adding to investor caution, the Federal Reserve is expected to release minutes on Wednesday from its last policy meeting, which market participants will scour for hints about when the U.S. central bank could begin tapering its massive bond-buying program.
Earnings unofficially kick off this week with results from JPMorgan Chase & Co JPM.N on Wednesday and other banks to follow. JPMorgan's shares were down on the day, while the S&P 500 banks index .SPXBK was also down.
Analysts expect to see strong U.S. profit growth for the third quarter, but investors are worried about how supply chain problems and higher prices will affect Corporate America as businesses emerge from the coronavirus pandemic. A number of companies have warned of issues heading into the reporting period.
"For the most part, institutional portfolio managers are of the view - let's see what earnings look like and how much of a negative impact is being seen from shortages, higher rates and supply chain bottlenecks," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles.
"A lot of those factors are currently reflected where equity prices are now."
According to preliminary data, the S&P 500 .SPX lost 10.79 points, or 0.25%, to end at 4,350.40 points, while the Nasdaq Composite .IXIC lost 20.27 points, or 0.14%, to 14,465.93. The Dow Jones Industrial Average .DJI fell 121.37 points, or 0.35%, to 34,374.69.
Tesla TSLA.O advanced after data showed the electric vehicle maker sold 56,006 China-made vehicles in September, the highest since it started production in Shanghai about two years ago. The company's shares provided the biggest boost to the S&P 500 and the Nasdaq.
Shares of American Airlines Group AAL.O rose after the company estimated a smaller-than-expected adjusted loss for the third quarter and signaled improved bookings for the rest of the year.
MGM Resorts MGM.N surged in the wake of Credit Suisse's upgrade of the companies stock to "outperform" from "neutral."
Investors also weighed comments from Fed Vice Chair Richard Clarida, who said the central bank has all but met its employment goal for reducing its bond buying program.
On the economic front, U.S. data showed the labor market remained tight, with a record number of Americans quitting their jobs and job vacancies numbering more than 10 million, stoking inflation fears as employers hike wages to attract and retain workers.
Wednesday's consumer price index report will attract attention from investors seeking clues about inflation.
(Additional reporting by Devik Jain, Shreyashi Sanyal in Bengaluru and Federica Urso in Gdansk; Editing by Saumyadeb Chakrabarty, Arun Koyyur and David Gregorio)
((caroline.valetkevitch@thomsonreuters.com; +1 646 223 6393; Reuters Messaging: caroline.valetkevitch.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.
|
Shares of American Airlines Group AAL.O rose after the company estimated a smaller-than-expected adjusted loss for the third quarter and signaled improved bookings for the rest of the year. By Caroline Valetkevitch and Stephen Culp NEW YORK, Oct 12 (Reuters) - U.S. stocks finished lower on Tuesday, with investors jittery in the run up to third-quarter earnings, while a jump in Tesla shares helped support the market. Adding to investor caution, the Federal Reserve is expected to release minutes on Wednesday from its last policy meeting, which market participants will scour for hints about when the U.S. central bank could begin tapering its massive bond-buying program.
|
Shares of American Airlines Group AAL.O rose after the company estimated a smaller-than-expected adjusted loss for the third quarter and signaled improved bookings for the rest of the year. Analysts expect to see strong U.S. profit growth for the third quarter, but investors are worried about how supply chain problems and higher prices will affect Corporate America as businesses emerge from the coronavirus pandemic. On the economic front, U.S. data showed the labor market remained tight, with a record number of Americans quitting their jobs and job vacancies numbering more than 10 million, stoking inflation fears as employers hike wages to attract and retain workers.
|
Shares of American Airlines Group AAL.O rose after the company estimated a smaller-than-expected adjusted loss for the third quarter and signaled improved bookings for the rest of the year. According to preliminary data, the S&P 500 .SPX lost 10.79 points, or 0.25%, to end at 4,350.40 points, while the Nasdaq Composite .IXIC lost 20.27 points, or 0.14%, to 14,465.93. On the economic front, U.S. data showed the labor market remained tight, with a record number of Americans quitting their jobs and job vacancies numbering more than 10 million, stoking inflation fears as employers hike wages to attract and retain workers.
|
Shares of American Airlines Group AAL.O rose after the company estimated a smaller-than-expected adjusted loss for the third quarter and signaled improved bookings for the rest of the year. By Caroline Valetkevitch and Stephen Culp NEW YORK, Oct 12 (Reuters) - U.S. stocks finished lower on Tuesday, with investors jittery in the run up to third-quarter earnings, while a jump in Tesla shares helped support the market. Adding to investor caution, the Federal Reserve is expected to release minutes on Wednesday from its last policy meeting, which market participants will scour for hints about when the U.S. central bank could begin tapering its massive bond-buying program.
|
4128.0
|
2021-10-12 00:00:00 UTC
|
Boeing will require its 125,000 U.S. employees to be vaccinated against COVID-19
|
AAL
|
https://www.nasdaq.com/articles/boeing-will-require-its-125000-u.s.-employees-to-be-vaccinated-against-covid-19-2021-10-0
|
nan
|
nan
|
By David Shepardson
WASHINGTON, Oct 12 (Reuters) - Boeing Co BA.N said on Tuesday it will require its 125,000 U.S. employees to be vaccinated by Dec. 8 under an executive order issued by President Joe Biden for federal contractors.
"Boeing is requiring its U.S.-based employees to either show proof of vaccination or have an approved reasonable accommodation (based on a disability or sincerely held religious belief) by Dec. 8," the largest U.S. planemaker said.
The Society of Professional Engineering Employees in Aerospace (SPEEA) union said it was "talking with employers to ensure implementation gives proper consideration to members concerns, health issues and abides by the provisions of our negotiated contracts."
Just over 5,000 Boeing employees are in Texas, where Republican Governor Greg Abbott issued an executive order on Monday barring COVID-19 vaccine mandates by any entity, including private employers.
"Due to the Texas EO, the Boeing vaccination requirement announced today does not apply to local sites immediately. However, once these sites become covered under the Biden EO, we expect that they will subject to the vaccination requirement," a Boeing spokeswoman said.
Major U.S. airlines have said they will also meet the deadline imposed on federal contractors, including American Airlines AAL.O, Southwest Airlines Co LUV.N, JetBlue Airways Corp JBLU.O and Alaska Airlines ALK.N, as has aircraft parts manufacturer Spirit AeroSystems SPR.N.
The White House announced the Dec. 8 deadline for employees of federal contractors last month and the requirements are expected to cover millions of employees.
Government contractors International Business Machines Corp IBM.N and Raytheon Technologies Corp RTX.N have also said they will require all U.S. employees to be vaccinated. The White House is adding clauses to future government contracts mandating inoculations.
Steve Cave, a King & Spalding attorney who specializes in government contracts, told Reuters last month he expects the order will affect tens of millions of U.S. workers or more.
The Labor Department separately plans to issue an emergency temporary standard (ETS) requiring employers with more than 100 workers to have them inoculated or tested weekly - a policy expected to cover more than 80 million workers.
But that has still not gone to the White House regulatory office for review, suggesting the ETS is still at least weeks away.
(Reporting by David Shepardson and Eric Johnson; Editing by Chris Reese and 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.
|
Major U.S. airlines have said they will also meet the deadline imposed on federal contractors, including American Airlines AAL.O, Southwest Airlines Co LUV.N, JetBlue Airways Corp JBLU.O and Alaska Airlines ALK.N, as has aircraft parts manufacturer Spirit AeroSystems SPR.N. By David Shepardson WASHINGTON, Oct 12 (Reuters) - Boeing Co BA.N said on Tuesday it will require its 125,000 U.S. employees to be vaccinated by Dec. 8 under an executive order issued by President Joe Biden for federal contractors. The Society of Professional Engineering Employees in Aerospace (SPEEA) union said it was "talking with employers to ensure implementation gives proper consideration to members concerns, health issues and abides by the provisions of our negotiated contracts."
|
Major U.S. airlines have said they will also meet the deadline imposed on federal contractors, including American Airlines AAL.O, Southwest Airlines Co LUV.N, JetBlue Airways Corp JBLU.O and Alaska Airlines ALK.N, as has aircraft parts manufacturer Spirit AeroSystems SPR.N. "Due to the Texas EO, the Boeing vaccination requirement announced today does not apply to local sites immediately. The White House announced the Dec. 8 deadline for employees of federal contractors last month and the requirements are expected to cover millions of employees.
|
Major U.S. airlines have said they will also meet the deadline imposed on federal contractors, including American Airlines AAL.O, Southwest Airlines Co LUV.N, JetBlue Airways Corp JBLU.O and Alaska Airlines ALK.N, as has aircraft parts manufacturer Spirit AeroSystems SPR.N. By David Shepardson WASHINGTON, Oct 12 (Reuters) - Boeing Co BA.N said on Tuesday it will require its 125,000 U.S. employees to be vaccinated by Dec. 8 under an executive order issued by President Joe Biden for federal contractors. The White House announced the Dec. 8 deadline for employees of federal contractors last month and the requirements are expected to cover millions of employees.
|
Major U.S. airlines have said they will also meet the deadline imposed on federal contractors, including American Airlines AAL.O, Southwest Airlines Co LUV.N, JetBlue Airways Corp JBLU.O and Alaska Airlines ALK.N, as has aircraft parts manufacturer Spirit AeroSystems SPR.N. By David Shepardson WASHINGTON, Oct 12 (Reuters) - Boeing Co BA.N said on Tuesday it will require its 125,000 U.S. employees to be vaccinated by Dec. 8 under an executive order issued by President Joe Biden for federal contractors. However, once these sites become covered under the Biden EO, we expect that they will subject to the vaccination requirement," a Boeing spokeswoman said.
|
4129.0
|
2021-10-12 00:00:00 UTC
|
Wall Street flat on concerns over inflation impact on profits
|
AAL
|
https://www.nasdaq.com/articles/wall-street-flat-on-concerns-over-inflation-impact-on-profits-2021-10-12
|
nan
|
nan
|
By Devik Jain
Oct 12 (Reuters) - U.S. stock indexes were trading largely flat in a choppy session on Tuesday on worries over the impact of rising inflation on upcoming third-quarter earnings, while Tesla gained after record China-made vehicles sales.
Eight of the 11 major S&P 500 sector rose, led by defensive utilities .SPLRCU, real estate .SPLRCR and consumer staples .SPLRCS shares, which investors prefer during economic uncertainty.
The communication services .SPLRCL sector dropped 1.2%, while mega-cap growth names including Microsoft Corp MSFT.O, Apple Inc AAPL.O, Alphabet Inc GOOGL.O and Facebook Inc FB.O weighed the most on the S&P 500 and the Nasdaq.
But Tesla TSLA.O added 1.8% after data showed the electric vehicle maker sold 56,006 China-made vehicles in September, the highest since it started production in Shanghai about two years ago.
Higher oil prices coupled with supply chain disruptions have set off alarm bells for businesses and consumers in the run-up to quarterly reports from companies, which will start with JPMorgan Chase & Co JPM.N on Wednesday.
Shares of JPMorgan were down 0.4%, with the banking sub-index .SPXBK easing after hitting a record high recently.
"Given all of the difficulties that companies are having to deal with, there is more of a chance for more negative surprises this quarter than there were in the previous quarters," said Tom Martin, senior portfolio manager at Globalt Investments in Atlanta.
"We have had a good run here (year-to-date) so you can get continued back and forth across the markets, a lot of it is going to be this push and pull between inflation expectations, and potentially the dampening of growth."
Analysts expect a 29.6% year-over-year increase in profit for S&P 500 companies in the third quarter, according to IBES data from Refinitiv as of Friday.
At 11:44 a.m. ET, the Dow Jones Industrial Average .DJI was down 11.12 points, or 0.03%, at 34,484.94, the S&P 500 .SPX was down 3.26 points, or 0.07%, at 4,357.93 and the Nasdaq Composite .IXIC was down 17.22 points, or 0.12%, at 14,468.98.
Investors also awaited the release of minutes from the Federal Reserve's meeting on Wednesday for clues on the taper timeline, while inflation and retail sales data will be scrutinized to gauge the pace of economic recovery.
Fed Vice Chair Richard Clarida said the central bank has all but met its employment goal to move ahead with reducing its bond buying program.
Atlanta Fed President Raphael Bostic and Richmond Fed President Thomas Barkin are slated to speak at separate events later in the day.
Shares of Nike Inc NKE.N rose 0.8% after Goldman Sachs started coverage of the sportswear maker's stock with a "buy" rating.
MGM Resorts International MGM.N jumped 6.9% after Credit Suisse upgraded the U.S. casino operator's stock to "outperform" from "neutral".
American Airlines AAL.O added 0.6% after it forecast a smaller-than-expected adjusted net loss for the third quarter.
Advancing issues outnumbered decliners by a 1.72-to-1 ratio on the NYSE and by a 1.41-to-1 ratio on the Nasdaq.
The S&P index recorded eight new 52-week highs and 10 new lows, while the Nasdaq recorded 34 new highs and 68 new lows.
(Reporting by Devik Jain, Shreyashi Sanyal in Bengaluru and Federica Urso in Gdansk; Editing by Saumyadeb Chakrabarty and Arun Koyyur)
((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.
|
American Airlines AAL.O added 0.6% after it forecast a smaller-than-expected adjusted net loss for the third quarter. By Devik Jain Oct 12 (Reuters) - U.S. stock indexes were trading largely flat in a choppy session on Tuesday on worries over the impact of rising inflation on upcoming third-quarter earnings, while Tesla gained after record China-made vehicles sales. Higher oil prices coupled with supply chain disruptions have set off alarm bells for businesses and consumers in the run-up to quarterly reports from companies, which will start with JPMorgan Chase & Co JPM.N on Wednesday.
|
American Airlines AAL.O added 0.6% after it forecast a smaller-than-expected adjusted net loss for the third quarter. By Devik Jain Oct 12 (Reuters) - U.S. stock indexes were trading largely flat in a choppy session on Tuesday on worries over the impact of rising inflation on upcoming third-quarter earnings, while Tesla gained after record China-made vehicles sales. But Tesla TSLA.O added 1.8% after data showed the electric vehicle maker sold 56,006 China-made vehicles in September, the highest since it started production in Shanghai about two years ago.
|
American Airlines AAL.O added 0.6% after it forecast a smaller-than-expected adjusted net loss for the third quarter. By Devik Jain Oct 12 (Reuters) - U.S. stock indexes were trading largely flat in a choppy session on Tuesday on worries over the impact of rising inflation on upcoming third-quarter earnings, while Tesla gained after record China-made vehicles sales. Higher oil prices coupled with supply chain disruptions have set off alarm bells for businesses and consumers in the run-up to quarterly reports from companies, which will start with JPMorgan Chase & Co JPM.N on Wednesday.
|
American Airlines AAL.O added 0.6% after it forecast a smaller-than-expected adjusted net loss for the third quarter. By Devik Jain Oct 12 (Reuters) - U.S. stock indexes were trading largely flat in a choppy session on Tuesday on worries over the impact of rising inflation on upcoming third-quarter earnings, while Tesla gained after record China-made vehicles sales. Eight of the 11 major S&P 500 sector rose, led by defensive utilities .SPLRCU, real estate .SPLRCR and consumer staples .SPLRCS shares, which investors prefer during economic uncertainty.
|
4130.0
|
2021-10-12 00:00:00 UTC
|
US STOCKS-Wall St steady with investors cautious ahead of earnings
|
AAL
|
https://www.nasdaq.com/articles/us-stocks-wall-st-steady-with-investors-cautious-ahead-of-earnings-2021-10-12
|
nan
|
nan
|
By Caroline Valetkevitch
NEW YORK, Oct 12 (Reuters) - U.S. stocks were little changed in afternoon trading on Tuesday as investors remained cautious in the run up to third-quarter earnings, while a jump in Tesla shares helped support the market.
Adding to investor uncertainty, the Federal Reserve will release minutes on Wednesday from its last policy meeting, and investors are looking for further clues on when the central bank could begin tapering its massive bond-buying program.
Earnings unofficially kick off on Wednesday with results from some big banks, including JPMorgan Chase & Co JPM.N. Its shares were 0.6%, while the S&P 500 banks index .SPXBK was down 0.4%.
Analysts expect to see strong U.S. profit growth for the third quarter, but investors are worried about the impact of supply chain problems and higher prices on Corporate America as businesses emerge from the coronavirus pandemic. A number of companies have warned of issues heading into the reporting period.
"The market is in a slump right now, and I suspect the reason is investors are waiting for the earnings parade, which begins tomorrow," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
"There will be some erosion of earnings, but... nothing detrimental," he said. But "the market remains cautious, and if earnings should disappoint, we could sell off even further."
Communications services .SPLRCL and technology .SPLRCT sectors led the day's declines. At the same time, Tesla TSLA.O gained 2.4% after data showed the electric vehicle maker sold 56,006 China-made vehicles in September, the highest since it started production in Shanghai about two years ago.
The Dow Jones Industrial Average .DJI fell 31.28 points, or 0.09%, to 34,464.78, the S&P 500 .SPX lost 1.22 points, or 0.03%, to 4,359.97 and the Nasdaq Composite .IXIC added 8.30 points, or 0.06%, to 14,494.50.
Also rising were shares of American Airlines Group AAL.O, which on Tuesday estimated a smaller-than-expected adjusted loss for the third quarter and signaled improved bookings for the rest of the year.
Fed Vice Chair Richard Clarida said the central bank has all but met its employment goal to move ahead with reducing its bond buying program.
Investors also will closely monitor Wednesday's consumer price index data for September.
Advancing issues outnumbered declining ones on the NYSE by a 1.63-to-1 ratio; on Nasdaq, a 1.46-to-1 ratio favored advancers.
The S&P 500 posted 10 new 52-week highs and 10 new lows; the Nasdaq Composite recorded 39 new highs and 84 new lows.
(Additional reporting by Devik Jain, Shreyashi Sanyal in Bengaluru and Federica Urso in Gdansk; Editing by Saumyadeb Chakrabarty, Arun Koyyur and David Gregorio)
((caroline.valetkevitch@thomsonreuters.com; +1 646 223 6393; Reuters Messaging: caroline.valetkevitch.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.
|
Also rising were shares of American Airlines Group AAL.O, which on Tuesday estimated a smaller-than-expected adjusted loss for the third quarter and signaled improved bookings for the rest of the year. By Caroline Valetkevitch NEW YORK, Oct 12 (Reuters) - U.S. stocks were little changed in afternoon trading on Tuesday as investors remained cautious in the run up to third-quarter earnings, while a jump in Tesla shares helped support the market. Analysts expect to see strong U.S. profit growth for the third quarter, but investors are worried about the impact of supply chain problems and higher prices on Corporate America as businesses emerge from the coronavirus pandemic.
|
Also rising were shares of American Airlines Group AAL.O, which on Tuesday estimated a smaller-than-expected adjusted loss for the third quarter and signaled improved bookings for the rest of the year. By Caroline Valetkevitch NEW YORK, Oct 12 (Reuters) - U.S. stocks were little changed in afternoon trading on Tuesday as investors remained cautious in the run up to third-quarter earnings, while a jump in Tesla shares helped support the market. The Dow Jones Industrial Average .DJI fell 31.28 points, or 0.09%, to 34,464.78, the S&P 500 .SPX lost 1.22 points, or 0.03%, to 4,359.97 and the Nasdaq Composite .IXIC added 8.30 points, or 0.06%, to 14,494.50.
|
Also rising were shares of American Airlines Group AAL.O, which on Tuesday estimated a smaller-than-expected adjusted loss for the third quarter and signaled improved bookings for the rest of the year. By Caroline Valetkevitch NEW YORK, Oct 12 (Reuters) - U.S. stocks were little changed in afternoon trading on Tuesday as investors remained cautious in the run up to third-quarter earnings, while a jump in Tesla shares helped support the market. Adding to investor uncertainty, the Federal Reserve will release minutes on Wednesday from its last policy meeting, and investors are looking for further clues on when the central bank could begin tapering its massive bond-buying program.
|
Also rising were shares of American Airlines Group AAL.O, which on Tuesday estimated a smaller-than-expected adjusted loss for the third quarter and signaled improved bookings for the rest of the year. By Caroline Valetkevitch NEW YORK, Oct 12 (Reuters) - U.S. stocks were little changed in afternoon trading on Tuesday as investors remained cautious in the run up to third-quarter earnings, while a jump in Tesla shares helped support the market. Its shares were 0.6%, while the S&P 500 banks index .SPXBK was down 0.4%.
|
4131.0
|
2021-10-12 00:00:00 UTC
|
US STOCKS-Futures rise on tech boost, focus turns to earnings
|
AAL
|
https://www.nasdaq.com/articles/us-stocks-futures-rise-on-tech-boost-focus-turns-to-earnings-2021-10-12
|
nan
|
nan
|
By Devik Jain
Oct 12 (Reuters) - U.S. stock index futures edged higher on Tuesday, led by technology shares, although the overall sentiment remained fragile due to worries about higher inflation and its impact on third-quarter earnings starting this week.
Mega-caps growth names including Microsoft Corp MSFT.O, Amazon.com Inc AMZN.O, Google-parent Alphabet GOOGL.O and Tesla TSLA.O rose in premarket trading.
Tesla gained 1.1% after data showed the electric vehicle maker sold 56,006 China-made vehicles in September, the highest since it started production in Shanghai about two years ago.
Oil firms including Exxon Mobil XOM.N and Chevron Corp CVX.N edged up as Brent crude LCOc1 hit a near three-year high on energy crunch fears. O/R
The S&P energy sector .SPNY has gained 49.5% so far this year, outperforming all the other sectors and the benchmark index by a large margin.
Higher oil prices and supply chain disruptions have set off alarm bells for businesses and consumers ahead of the third-quarter reporting season that begins on Wednesday with JPMorgan Chase & Co JPM.N.
"Market participants could stay concerned over high energy prices translating into further acceleration in inflation, and thereby faster tightening by major central banks," said Charalambos Pissouros, head of research at JFD Group.
Shares of JPMorgan and other major U.S. lenders traded lower.
Analysts expect a 29.6% year-over-year increase in profit for S&P 500 companies in the third quarter, according to IBES data from Refinitiv as of Friday.
"Right now we are in an information vacuum and the market is mainly looking forward to the earnings season... and that is really going to set the pace," said Thomas Hayes, managing member at Great Hill Capital Llc in New York.
"Expectations are quite low for the third quarter with Delta and everything else, really setting the stage for companies to beat beyond expectations."
At 8:34 a.m. ET, Dow e-minis 1YMcv1 were up 59 points, or 0.17%, S&P 500 e-minis EScv1 were up 10.5 points, or 0.24%, and Nasdaq 100 e-minis NQcv1 were up 65.75 points, or 0.45%.
Investors also awaited the release of minutes from the Federal Reserve's meeting on Wednesday for clues on taper timeline, while inflation and retail sales data will be scrutinized to gauge the pace of economic recovery.
Fed's Vice Chair Richard Clarida, Atlanta Fed President Raphael Bostic and Richmond Fed President Thomas Barkin are slated to speak at separate events later in the day.
MGM Resorts International MGM.N added 2.2% after Credit Suisse upgraded the U.S. casino operator's stock to "outperform" from "neutral".
Nike Inc NKE.N rose 1.3% after Goldman Sachs started its coverage on the sportswear maker's stock with a "buy" rating.
American Airlines AAL.O gained 1% after it forecast a smaller-than-expected adjusted net loss for the third quarter.
(Reporting by Devik Jain, Shreyashi Sanyal in Bengaluru and Federica Urso in Gdansk; Editing by Saumyadeb Chakrabarty)
((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.
|
American Airlines AAL.O gained 1% after it forecast a smaller-than-expected adjusted net loss for the third quarter. Higher oil prices and supply chain disruptions have set off alarm bells for businesses and consumers ahead of the third-quarter reporting season that begins on Wednesday with JPMorgan Chase & Co JPM.N. "Market participants could stay concerned over high energy prices translating into further acceleration in inflation, and thereby faster tightening by major central banks," said Charalambos Pissouros, head of research at JFD Group.
|
American Airlines AAL.O gained 1% after it forecast a smaller-than-expected adjusted net loss for the third quarter. By Devik Jain Oct 12 (Reuters) - U.S. stock index futures edged higher on Tuesday, led by technology shares, although the overall sentiment remained fragile due to worries about higher inflation and its impact on third-quarter earnings starting this week. Tesla gained 1.1% after data showed the electric vehicle maker sold 56,006 China-made vehicles in September, the highest since it started production in Shanghai about two years ago.
|
American Airlines AAL.O gained 1% after it forecast a smaller-than-expected adjusted net loss for the third quarter. By Devik Jain Oct 12 (Reuters) - U.S. stock index futures edged higher on Tuesday, led by technology shares, although the overall sentiment remained fragile due to worries about higher inflation and its impact on third-quarter earnings starting this week. Tesla gained 1.1% after data showed the electric vehicle maker sold 56,006 China-made vehicles in September, the highest since it started production in Shanghai about two years ago.
|
American Airlines AAL.O gained 1% after it forecast a smaller-than-expected adjusted net loss for the third quarter. By Devik Jain Oct 12 (Reuters) - U.S. stock index futures edged higher on Tuesday, led by technology shares, although the overall sentiment remained fragile due to worries about higher inflation and its impact on third-quarter earnings starting this week. Mega-caps growth names including Microsoft Corp MSFT.O, Amazon.com Inc AMZN.O, Google-parent Alphabet GOOGL.O and Tesla TSLA.O rose in premarket trading.
|
4132.0
|
2021-10-12 00:00:00 UTC
|
American Airlines expects third-quarter revenue to fall 25%
|
AAL
|
https://www.nasdaq.com/articles/american-airlines-expects-third-quarter-revenue-to-fall-25-2021-10-12
|
nan
|
nan
|
Oct 12 (Reuters) - American Airlines Group Inc AAL.O said on Tuesday it expects third-quarter revenue to fall about 25% from 2019.
The U.S. airline had previously expected third-quarter revenue to be down between 24% and 28%.
(Reporting by Sanjana Shivdas in Bengaluru; Editing by Vinay Dwivedi)
((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1642; Twitter: @SanjanaShivdas;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Oct 12 (Reuters) - American Airlines Group Inc AAL.O said on Tuesday it expects third-quarter revenue to fall about 25% from 2019. The U.S. airline had previously expected third-quarter revenue to be down between 24% and 28%. (Reporting by Sanjana Shivdas in Bengaluru; Editing by Vinay Dwivedi) ((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1642; Twitter: @SanjanaShivdas;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Oct 12 (Reuters) - American Airlines Group Inc AAL.O said on Tuesday it expects third-quarter revenue to fall about 25% from 2019. The U.S. airline had previously expected third-quarter revenue to be down between 24% and 28%. (Reporting by Sanjana Shivdas in Bengaluru; Editing by Vinay Dwivedi) ((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1642; Twitter: @SanjanaShivdas;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Oct 12 (Reuters) - American Airlines Group Inc AAL.O said on Tuesday it expects third-quarter revenue to fall about 25% from 2019. The U.S. airline had previously expected third-quarter revenue to be down between 24% and 28%. (Reporting by Sanjana Shivdas in Bengaluru; Editing by Vinay Dwivedi) ((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1642; Twitter: @SanjanaShivdas;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Oct 12 (Reuters) - American Airlines Group Inc AAL.O said on Tuesday it expects third-quarter revenue to fall about 25% from 2019. The U.S. airline had previously expected third-quarter revenue to be down between 24% and 28%. (Reporting by Sanjana Shivdas in Bengaluru; Editing by Vinay Dwivedi) ((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1642; Twitter: @SanjanaShivdas;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
4133.0
|
2021-10-12 00:00:00 UTC
|
American Airlines Now Sees Q3 Revenue To Decline About 25% From Q3 Of FY19 - Quick Facts
|
AAL
|
https://www.nasdaq.com/articles/american-airlines-now-sees-q3-revenue-to-decline-about-25-from-q3-of-fy19-quick-facts-2021
|
nan
|
nan
|
(RTTNews) - Providing an update on recent performance, American Airlines (AAL) said Tuesday that it expects to report a net profit in the third quarter, while expecting an adjusted net loss, excluding the effect of net special items, between $620 million and $675 million.
Further, the Company expects its third quarter total revenue to be down approximately 25% versus the third quarter of 2019, which is on the better end of the Company's previous guidance of down 24% to 28%.
The Company expects its third quarter CASM to be up between 10% and 11% compared to the third quarter of 2019 versus its previous guidance of up between 8% and 12%, mainly due to lower capacity.
During the summer, the Company executed on the largest and fastest operational ramp-up in its history as a response to recovering demand. It also took several corrective actions and saw continuous improvement through the quarter.
Operationally, the Company recorded its best September in its history since the merger as defined by completion factor (99%), on-time departures (76.6%), and on time arrivals (86.2%). The Company expects this trend to continue in October.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
(RTTNews) - Providing an update on recent performance, American Airlines (AAL) said Tuesday that it expects to report a net profit in the third quarter, while expecting an adjusted net loss, excluding the effect of net special items, between $620 million and $675 million. During the summer, the Company executed on the largest and fastest operational ramp-up in its history as a response to recovering demand. Operationally, the Company recorded its best September in its history since the merger as defined by completion factor (99%), on-time departures (76.6%), and on time arrivals (86.2%).
|
(RTTNews) - Providing an update on recent performance, American Airlines (AAL) said Tuesday that it expects to report a net profit in the third quarter, while expecting an adjusted net loss, excluding the effect of net special items, between $620 million and $675 million. Further, the Company expects its third quarter total revenue to be down approximately 25% versus the third quarter of 2019, which is on the better end of the Company's previous guidance of down 24% to 28%. The Company expects its third quarter CASM to be up between 10% and 11% compared to the third quarter of 2019 versus its previous guidance of up between 8% and 12%, mainly due to lower capacity.
|
(RTTNews) - Providing an update on recent performance, American Airlines (AAL) said Tuesday that it expects to report a net profit in the third quarter, while expecting an adjusted net loss, excluding the effect of net special items, between $620 million and $675 million. Further, the Company expects its third quarter total revenue to be down approximately 25% versus the third quarter of 2019, which is on the better end of the Company's previous guidance of down 24% to 28%. The Company expects its third quarter CASM to be up between 10% and 11% compared to the third quarter of 2019 versus its previous guidance of up between 8% and 12%, mainly due to lower capacity.
|
(RTTNews) - Providing an update on recent performance, American Airlines (AAL) said Tuesday that it expects to report a net profit in the third quarter, while expecting an adjusted net loss, excluding the effect of net special items, between $620 million and $675 million. Further, the Company expects its third quarter total revenue to be down approximately 25% versus the third quarter of 2019, which is on the better end of the Company's previous guidance of down 24% to 28%. The Company expects its third quarter CASM to be up between 10% and 11% compared to the third quarter of 2019 versus its previous guidance of up between 8% and 12%, mainly due to lower capacity.
|
4134.0
|
2021-10-11 00:00:00 UTC
|
Pick JetBlue Airways Stock For 30% Gain
|
AAL
|
https://www.nasdaq.com/articles/pick-jetblue-airways-stock-for-30-gain-2021-10-11
|
nan
|
nan
|
Per quarterly filings, JetBlue Airways (NASDAQ: JBLU) had guided its Q3 2021 revenues to be 9% lower than observed in Q3 2019 with a significant improvement in load factor. While the fourth wave of infections negatively affected recovery in air travel demand, the company’s strong balance sheet and high operating margin will assist long-term shareholder returns. As passenger numbers at TSA checkpoints have remained fairly stable in the past few weeks, Trefis believes that JetBlue stock is poised for sizable gains. Our interactive dashboard highlights JetBlue Airways During 2008 Recession vs. Now.
2020 Coronavirus Crisis
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, 2020, 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 92% from the lows seen on Mar 23, 2020, as the Fed’s multi-billion dollar stimulus package suppresses near-term survival anxiety and infuses liquidity into the system.
In contrast, here’s how JBLU 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)
JetBlue Airways vs S&P 500 Performance Over 2007-08 Financial Crisis
JBLU stock declined from levels of around $9 in October 2007 (pre-crisis peak) to levels of around $4 in March 2009 (as the markets bottomed out). However, the stock gained significantly post-2008 crisis to levels of about $5.50 in early 2010 – rising by 43% 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.
JetBlue Airways’ fundamentals likely to improve in the coming quarters
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: United Airlines’ Aircraft Order To Assist Long-Term Revenue Growth)
The fourth wave of coronavirus infections triggered expectations of a decline in air travel demand in the fourth quarter. However, passenger numbers at TSA checkpoints remain fairly stable – indicating strong domestic travel demand. Thus, revenues and margins are likely to improve in the coming quarters.
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-September 2020: Recovery of demand, with the phased lifting of lockdowns – no panic anymore with number of cases appearing to have plateaued
October 2020-February 2021: Unprecedented surge in Covid cases forcing a fresh round of lockdowns across the nation
Since March 2021: Ongoing vaccination drive and gradual re-openings drive an improvement in demand – buoying market sentiment
The company’s focus on revenue and margin expansion in the post-pandemic period is likely to assist cash generation and subsequently shareholder returns. (related: Are Long-Term Trends In Favor Of Boeing Stock?)
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.
|
While the fourth wave of infections negatively affected recovery in air travel demand, the company’s strong balance sheet and high operating margin will assist long-term shareholder returns. As passenger numbers at TSA checkpoints have remained fairly stable in the past few weeks, Trefis believes that JetBlue stock is poised for sizable gains. 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-September 2020: Recovery of demand, with the phased lifting of lockdowns – no panic anymore with number of cases appearing to have plateaued October 2020-February 2021: Unprecedented surge in Covid cases forcing a fresh round of lockdowns across the nation Since March 2021: Ongoing vaccination drive and gradual re-openings drive an improvement in demand – buoying market sentiment The company’s focus on revenue and margin expansion in the post-pandemic period is likely to assist cash generation and subsequently shareholder returns.
|
While the fourth wave of infections negatively affected recovery in air travel demand, the company’s strong balance sheet and high operating margin will assist long-term shareholder returns. 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) JetBlue Airways vs S&P 500 Performance Over 2007-08 Financial Crisis JBLU stock declined from levels of around $9 in October 2007 (pre-crisis peak) to levels of around $4 in March 2009 (as the markets bottomed out). However, passenger numbers at TSA checkpoints remain fairly stable – indicating strong domestic travel demand.
|
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) JetBlue Airways vs S&P 500 Performance Over 2007-08 Financial Crisis JBLU stock declined from levels of around $9 in October 2007 (pre-crisis peak) to levels of around $4 in March 2009 (as the markets bottomed out). JetBlue Airways’ fundamentals likely to improve in the coming quarters 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. 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-September 2020: Recovery of demand, with the phased lifting of lockdowns – no panic anymore with number of cases appearing to have plateaued October 2020-February 2021: Unprecedented surge in Covid cases forcing a fresh round of lockdowns across the nation Since March 2021: Ongoing vaccination drive and gradual re-openings drive an improvement in demand – buoying market sentiment The company’s focus on revenue and margin expansion in the post-pandemic period is likely to assist cash generation and subsequently shareholder returns.
|
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) JetBlue Airways vs S&P 500 Performance Over 2007-08 Financial Crisis JBLU stock declined from levels of around $9 in October 2007 (pre-crisis peak) to levels of around $4 in March 2009 (as the markets bottomed out). (related: United Airlines’ Aircraft Order To Assist Long-Term Revenue Growth) The fourth wave of coronavirus infections triggered expectations of a decline in air travel demand in the fourth quarter. 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-September 2020: Recovery of demand, with the phased lifting of lockdowns – no panic anymore with number of cases appearing to have plateaued October 2020-February 2021: Unprecedented surge in Covid cases forcing a fresh round of lockdowns across the nation Since March 2021: Ongoing vaccination drive and gradual re-openings drive an improvement in demand – buoying market sentiment The company’s focus on revenue and margin expansion in the post-pandemic period is likely to assist cash generation and subsequently shareholder returns.
|
4135.0
|
2021-10-11 00:00:00 UTC
|
LMEWEEK-LME teams up with Germany's Metalshub for spot metals trading platform
|
AAL
|
https://www.nasdaq.com/articles/lmeweek-lme-teams-up-with-germanys-metalshub-for-spot-metals-trading-platform-2021-10-11
|
nan
|
nan
|
By Pratima Desai and Zandi Shabalala
LONDON, Oct 11 (Reuters) - The London Metal Exchange (LME) will collaborate with Germany's Metalshub to establish an online spot trading platform for base metals starting with low carbon aluminium early next year, to help further its sustainability agenda.
The world's oldest and largest market for industrial metals said on Monday it is starting with aluminium because power is a major component - often up to 40% - in the smelting process.
However, aluminium is important for the energy transition, including in the auto industry where it is valued for its lightweighting properties in electric vehicles.
The LME has resisted calls to launch a low carbon aluminium contract as that would undermine liquidity on its existing primary aluminium contract, which has the highest volumes of any contract traded on the exchange.
Metalshub already facilitates spot trading of ferro alloys such as ferromolybdenum and ferrovanadium used to make steel.
The exchange, established in 1877 above a hat shop in Lombard Court, London, is aiming to provide greater transparency, access to sustainably produced metals and ensure responsible sourcing across metal supply chains.
"The LME will set the parameters for the low carbon aluminium with Metalshub," said LME Chief Executive Matt Chamberlain in an interview as the metals industry gathered in person for LME Week, an event which took place virtually last year because of the coronavirus pandemic.
"The LME isn't generally a source for physical metal, it is mostly used for financial hedging. On the platform, customers will be able to choose specific brands and delivery locations."
Chamberlain declined to give any financial details of the project, but said the platform would be used to test new products, and see how trading and pricing evolve.
"When it becomes a good liquid spot market we can take it to the stage of a futures contract on the LME."
Successful new contracts would help boost revenues for the exchange, which has seen its volumes slide since the pandemic temporarily closed the floor or open outcry trading in March 2020.
Metalshub expects its turnover to more than triple this year to about 1 billion euros after big firms stepped up usage, including miner Anglo American AAL.L.
(Reporting by Pratima Desai; editing by Kirsten Donovan)
((pratima.desai@thomsonreuters.com; +44 207 513 5681;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Metalshub expects its turnover to more than triple this year to about 1 billion euros after big firms stepped up usage, including miner Anglo American AAL.L. The world's oldest and largest market for industrial metals said on Monday it is starting with aluminium because power is a major component - often up to 40% - in the smelting process. Successful new contracts would help boost revenues for the exchange, which has seen its volumes slide since the pandemic temporarily closed the floor or open outcry trading in March 2020.
|
Metalshub expects its turnover to more than triple this year to about 1 billion euros after big firms stepped up usage, including miner Anglo American AAL.L. By Pratima Desai and Zandi Shabalala LONDON, Oct 11 (Reuters) - The London Metal Exchange (LME) will collaborate with Germany's Metalshub to establish an online spot trading platform for base metals starting with low carbon aluminium early next year, to help further its sustainability agenda. The LME has resisted calls to launch a low carbon aluminium contract as that would undermine liquidity on its existing primary aluminium contract, which has the highest volumes of any contract traded on the exchange.
|
Metalshub expects its turnover to more than triple this year to about 1 billion euros after big firms stepped up usage, including miner Anglo American AAL.L. By Pratima Desai and Zandi Shabalala LONDON, Oct 11 (Reuters) - The London Metal Exchange (LME) will collaborate with Germany's Metalshub to establish an online spot trading platform for base metals starting with low carbon aluminium early next year, to help further its sustainability agenda. The LME has resisted calls to launch a low carbon aluminium contract as that would undermine liquidity on its existing primary aluminium contract, which has the highest volumes of any contract traded on the exchange.
|
Metalshub expects its turnover to more than triple this year to about 1 billion euros after big firms stepped up usage, including miner Anglo American AAL.L. By Pratima Desai and Zandi Shabalala LONDON, Oct 11 (Reuters) - The London Metal Exchange (LME) will collaborate with Germany's Metalshub to establish an online spot trading platform for base metals starting with low carbon aluminium early next year, to help further its sustainability agenda. The LME has resisted calls to launch a low carbon aluminium contract as that would undermine liquidity on its existing primary aluminium contract, which has the highest volumes of any contract traded on the exchange.
|
4136.0
|
2021-10-10 00:00:00 UTC
|
LMEWEEK-Online metals platforms ramp up with physical trading, logistics
|
AAL
|
https://www.nasdaq.com/articles/lmeweek-online-metals-platforms-ramp-up-with-physical-trading-logistics-2021-10-11
|
nan
|
nan
|
By Eric Onstad
LONDON, Oct 11 (Reuters) - Online industrial metals platforms are gaining momentum this year by targeting the physical trade of minerals worth about half a trillion dollars a year, gradually enticing traders to move away from largely paper-based systems.
The digital venues have attracted traders as London Metal Exchange volumes fell after the coronavirus pandemic temporarily closed its floor for open outcry trading in March 2020. See FACTBOX:
As the metals industry gathers in person for LME Week starting on Monday, the digital venues are also tapping into the global move towards sustainability by embedding traceable data about sourcing and CO2 emissions into their systems.
Investors have shown confidence in the new online platforms, with MineHub MHUB.V listing in Canada last month and Swiss-based Open Mineral's $33 million fundraising including Abu Dhabi's sovereign wealth fund Mubadala.
Germany's Metalshub is set to more than triple turnover this year to 1 billion euros, attracting big clients such as miner Anglo American AAL.L.
"The metal industry is just painfully slow in adapting to technology," Chief Executive Frank Jackel of Metalshub told Reuters in an interview.
"But they now see it's making life much easier. Efficiency is one key factor and there's a huge compliance advantage."
BLOCKCHAIN, LOGISTICS
MineHub and TradeCloud in Singapore are seeking to digitise trade finance and logistics in metals and mining by using blockchain, a digital ledger.
MineHub provides services after deals have been agreed, similar to the fulfilment services by Amazon, Chief Executive Arnoud Busmann told Reuters.
"After the Amazon one-click, all the hard work starts - logistics, customs, payments - that's the bit that we do."
The platforms have succeeded in targeting physical trading as exchanges such as CME Group Inc CME.O and the LME 0388.HK largely cater for financial investors.
The exchanges include the option of physical delivery, but more than 99% of LME trades are financially settled.
Metalshub mainly deals in ferro-alloys used in the steel industry, which are not listed on the main exchanges. But its second most traded product is nickel, which is traded on the LME.
The platforms are attracting major companies, including the world's biggest listed mining group BHP BHPB.L, which signed up in April to become a user of MineHub after using it for its first blockchain trade in iron ore a year earlier.
Big firms using Metalshub include Anglo American and Finnish stainless steel producer Outokumpu OUT1V.HE.
Top 10 products traded on online platform Metalshubhttps://tmsnrt.rs/305oh0p
Turnover surges at online platform Metalshubhttps://tmsnrt.rs/3Bn12N8
(Reporting by Eric Onstad; editing by Pratima Desai and Louise Heavens)
((eric.onstad@thomsonreuters.com; +44 20 7542 7093; Twitter https://twitter.com/reutersEricO; Reuters Messaging: eric.onstad.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.
|
Germany's Metalshub is set to more than triple turnover this year to 1 billion euros, attracting big clients such as miner Anglo American AAL.L. See FACTBOX: As the metals industry gathers in person for LME Week starting on Monday, the digital venues are also tapping into the global move towards sustainability by embedding traceable data about sourcing and CO2 emissions into their systems. Investors have shown confidence in the new online platforms, with MineHub MHUB.V listing in Canada last month and Swiss-based Open Mineral's $33 million fundraising including Abu Dhabi's sovereign wealth fund Mubadala.
|
Germany's Metalshub is set to more than triple turnover this year to 1 billion euros, attracting big clients such as miner Anglo American AAL.L. By Eric Onstad LONDON, Oct 11 (Reuters) - Online industrial metals platforms are gaining momentum this year by targeting the physical trade of minerals worth about half a trillion dollars a year, gradually enticing traders to move away from largely paper-based systems. The digital venues have attracted traders as London Metal Exchange volumes fell after the coronavirus pandemic temporarily closed its floor for open outcry trading in March 2020.
|
Germany's Metalshub is set to more than triple turnover this year to 1 billion euros, attracting big clients such as miner Anglo American AAL.L. By Eric Onstad LONDON, Oct 11 (Reuters) - Online industrial metals platforms are gaining momentum this year by targeting the physical trade of minerals worth about half a trillion dollars a year, gradually enticing traders to move away from largely paper-based systems. The platforms are attracting major companies, including the world's biggest listed mining group BHP BHPB.L, which signed up in April to become a user of MineHub after using it for its first blockchain trade in iron ore a year earlier.
|
Germany's Metalshub is set to more than triple turnover this year to 1 billion euros, attracting big clients such as miner Anglo American AAL.L. By Eric Onstad LONDON, Oct 11 (Reuters) - Online industrial metals platforms are gaining momentum this year by targeting the physical trade of minerals worth about half a trillion dollars a year, gradually enticing traders to move away from largely paper-based systems. The platforms have succeeded in targeting physical trading as exchanges such as CME Group Inc CME.O and the LME 0388.HK largely cater for financial investors.
|
4137.0
|
2021-10-08 00:00:00 UTC
|
U.S. will accept WHO-approved COVID-19 vaccines for international visitors
|
AAL
|
https://www.nasdaq.com/articles/u.s.-will-accept-who-approved-covid-19-vaccines-for-international-visitors-2021-10-08
|
nan
|
nan
|
By David Shepardson
WASHINGTON, Oct 8 (Reuters) - The United States will accept the use by international visitors of COVID-19 vaccines authorized by U.S. regulators or the World Health Organization, the Centers for Disease Control and Prevention said late on Friday.
On Sept. 20, the White House announced the United States in November would lift travel restrictions on air travelers from 33 countries including China, India, Brazil and most of Europe who are fully vaccinated against COVID-19. It did not specify then which vaccines would be accepted.
A CDC spokeswoman told Reuters Friday, "Six vaccines that are FDA authorized/approved or listed for emergency use by WHO will meet the criteria for travel to the U.S."
Late on Friday, the CDC said that "earlier this week, to help them prepare their systems we informed airlines" of the vaccines that would be accepted and added "CDC will release additional guidance and information as the travel requirements are finalized."
Airlines for America, a trade group representing American Airlines Co AAL.O, Delta Air Lines DAL.N, United Airlines UAL.N and others, said it was "pleased by the CDC's decision to approve a list of authorized vaccinations for travelers entering the U.S. We look forward to working with the administration to implement this new global vaccine and testing framework by early November 2021."
Some countries had pressed the Biden administration to accept WHO-approved vaccines, since the U.S. Food and Drug Administration authorized vaccines are not widely used in all countries.
The United States will admit fully vaccinated air travelers from the 26 so-called Schengen countries in Europe as well as Britain, Ireland, China, India, South Africa, Iran and Brazil. The unprecedented U.S. restrictionshave barred most non-U.S. citizens who were in those countries within the past 14 days.
The new COVID-19 vaccine requirements will now apply to nearly all foreign nationals flying to the United States - including those not subject to the prior restrictions.
The CDC must still finalize and publish new contract tracing rules for international visitors, which it sent to the White House for review on Sept. 15.
The CDC must also detail rules for exceptions, which include children not yet eligible for shots, as well as for visitors from countries where vaccines are not widely available. The administration must also decide whether to admit visitors part of COVID-19 clinical trials or have recently contracted COVID-19 and are not yet eligible for vaccination.
(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.
|
Airlines for America, a trade group representing American Airlines Co AAL.O, Delta Air Lines DAL.N, United Airlines UAL.N and others, said it was "pleased by the CDC's decision to approve a list of authorized vaccinations for travelers entering the U.S. We look forward to working with the administration to implement this new global vaccine and testing framework by early November 2021." By David Shepardson WASHINGTON, Oct 8 (Reuters) - The United States will accept the use by international visitors of COVID-19 vaccines authorized by U.S. regulators or the World Health Organization, the Centers for Disease Control and Prevention said late on Friday. The United States will admit fully vaccinated air travelers from the 26 so-called Schengen countries in Europe as well as Britain, Ireland, China, India, South Africa, Iran and Brazil.
|
Airlines for America, a trade group representing American Airlines Co AAL.O, Delta Air Lines DAL.N, United Airlines UAL.N and others, said it was "pleased by the CDC's decision to approve a list of authorized vaccinations for travelers entering the U.S. We look forward to working with the administration to implement this new global vaccine and testing framework by early November 2021." By David Shepardson WASHINGTON, Oct 8 (Reuters) - The United States will accept the use by international visitors of COVID-19 vaccines authorized by U.S. regulators or the World Health Organization, the Centers for Disease Control and Prevention said late on Friday. On Sept. 20, the White House announced the United States in November would lift travel restrictions on air travelers from 33 countries including China, India, Brazil and most of Europe who are fully vaccinated against COVID-19.
|
Airlines for America, a trade group representing American Airlines Co AAL.O, Delta Air Lines DAL.N, United Airlines UAL.N and others, said it was "pleased by the CDC's decision to approve a list of authorized vaccinations for travelers entering the U.S. We look forward to working with the administration to implement this new global vaccine and testing framework by early November 2021." A CDC spokeswoman told Reuters Friday, "Six vaccines that are FDA authorized/approved or listed for emergency use by WHO will meet the criteria for travel to the U.S." Late on Friday, the CDC said that "earlier this week, to help them prepare their systems we informed airlines" of the vaccines that would be accepted and added "CDC will release additional guidance and information as the travel requirements are finalized." Some countries had pressed the Biden administration to accept WHO-approved vaccines, since the U.S. Food and Drug Administration authorized vaccines are not widely used in all countries.
|
Airlines for America, a trade group representing American Airlines Co AAL.O, Delta Air Lines DAL.N, United Airlines UAL.N and others, said it was "pleased by the CDC's decision to approve a list of authorized vaccinations for travelers entering the U.S. We look forward to working with the administration to implement this new global vaccine and testing framework by early November 2021." By David Shepardson WASHINGTON, Oct 8 (Reuters) - The United States will accept the use by international visitors of COVID-19 vaccines authorized by U.S. regulators or the World Health Organization, the Centers for Disease Control and Prevention said late on Friday. On Sept. 20, the White House announced the United States in November would lift travel restrictions on air travelers from 33 countries including China, India, Brazil and most of Europe who are fully vaccinated against COVID-19.
|
4138.0
|
2021-10-08 00:00:00 UTC
|
Best Stocks To Buy Right Now? 5 Leisure Stocks To Know
|
AAL
|
https://www.nasdaq.com/articles/best-stocks-to-buy-right-now-5-leisure-stocks-to-know-2021-10-08
|
nan
|
nan
|
5 Top Leisure Stocks To Watch Today
The stock market today/strong> appears to be moving sideways after the U.S. Labor Department’s latest report. Even so, investors may want to take a closer look at leisure stocks amidst all of this. Sure, some would argue that the flip-flopping in stocks this week has been volatile, to say the least. As such, looking toward industries with more long-term growth potential would be a viable strategy now. On that note, the leisure industry could fit the bill in this respect now.
For the most part, the leisure industry is one that people turn to in good times and bad. This would be the case from weed producers and gaming companies to even streaming firms. Alternatively, you could even look towards travel stocks that are poised to grow in a post-pandemic market. These would include the likes of Disney (NYSE: DIS) and Airbnb (NASDAQ: ABNB). In fact, companies such as Uber (NYSE: UBER) are already facilitating the current uptick in travel demand. Earlier this week, the company launched a feature that allows the Uber app to track flights, allowing for better coordination between drivers and clients. Overall, there are numerous other players in the leisure space to consider now. Check out these five movers in the stock market now.
5 Top Leisure Stocks To Buy [Or Sell] In October 2021
Carnival Corporation (NYSE: CCL)
Tilray Inc. (NASDAQ: TLRY)
American Airlines Group Inc. (NASDAQ: AAL)
Royal Caribbean Cruises Ltd. (NYSE: RCL)
Penn National Gaming Inc. (NASDAQ: PENN)
Carnival Corporation
To begin with, we have Carnival Corporation, one of the world’s largest leisure travel companies in the world. Its portfolio of global cruise line brands includes Carnival Cruise Line and Princess Cruises among others. Collectively, these brands comprise over 80 ships with the capacity to visit over 700 ports around the world. The company also has plans to add more ships by 2025. CCL stock currently trades at $24.49 as of 9:58 a.m. ET and has enjoyed gains of over 50% in the past year alone.
On Thursday, the company announced a significant milestone in the first three months of its resuming guest operations this summer. With half of its U.S. fleet back in service and sailing from six U.S. homeports, the company’s resumption of service has provided much-needed vacations to hundreds of thousands of loyal guests.
Furthermore, Carnival Cruise Line has announced plans to have 17 ships back in the guest service by the end of 2021, with additional ships returning in January and February and the entire U.S. fleet back in guest operations by spring 2022. With this revelation, should investors consider adding CCL stock to their portfolio?
Read More
4 Artificial Intelligence Stocks To Watch Right Now
Best Lithium Battery Stocks To Buy Now? 4 To Know
Tilray Inc.
Tilray is a pharmaceutical and cannabis company with operations all around the globe. It is a trusted partner for both patients and consumers by providing them with a cultivated experience and health through its high-quality, differentiated brands, and innovative products. The company’s unprecedented production platform supports over 20 brands in over 20 countries. TLRY stock currently trades at $10.94 as of 9:58 a.m. ET and is up by over 70% in the past year.
Yesterday, the company reported its first-quarter financials for the fiscal year 2022. Diving in, net revenue and gross profit increased by 43% and 46% respectively. It is also the company’s 10th consecutive quarter of positive adjusted EBITDA.
In addition to that, Tilray also continues to maintain the number 1 market share in Canada with its comprehensive portfolio of medical and adult-use cannabis brands. Given this piece of information, is TLRY stock worth buying right now?
American Airlines Group Inc.
American Airlines is a leisure company that is also one of the largest airlines in the world as measured by the number of passengers carried and fleet size. Together with its regional partner American Eagle, it offered thousands of flights daily in 50 countries pre-pandemic. It is also a founding member of the oneworld alliance. AAL stock currently trades at $20.09 as of 9:58 a.m. ET and is up by over 50% from a year ago.
The company says that it will be announcing its third-quarter 2021 financials on October 21, 2021. Last month, it also announced that it has become an anchor partner to Bill Gates’s Breakthrough Energy Catalyst. American will be investing $100 million in a groundbreaking collaborative effort to accelerate the clean energy technologies necessary for achieving a net-zero economy by 2050.
In becoming one of Breakthrough Energy Catalyst’s first anchor partners, American is backing up its ambitious climate commitments with concrete action to accelerate the development of pivotal emissions-reduction solutions like sustainable aviation fuel. With that being said, should you consider buying AAL stock?
[Read More] 4 Robotics Stocks To Watch Amid Rising Shifts To Automation
Royal Caribbean Cruises Ltd.
Following that, we have another cruise line operator, Royal Caribbean Cruises (RCL). In brief, RCL is a Florida-based company that runs cruises across the globe. The company primarily operates via its three flagship brands, Royal Caribbean International, Celebrity Cruises, and Silversea. By RCL’s estimates, it boasts a combined fleet of 60 ships with 13 additional vessels on order. Given the resurging interest in cruise voyages, RCL stock could be worth keeping an eye on.
For one thing, the company’s shares currently trade at $89.35 as of 9:58 a.m. ET. This would be after gaining by over 23% year-to-date. To maintain this momentum, RCL continues to adapt its business to the changing market. As of last week, the company is now working with TraceSafe.
Through this partnership, RCL passengers now have access to Tracelet, a contact tracing wristband. Additionally, the company also recently bolstered its Celebrity Cruises line with Celebrity Beyond, a dining experience by double Michelin-starred chef Daniel Boulud. Could all this make RCL stock worth watching now?
[Read More] Up And Coming Stocks To Buy Right Now? 3 Retail Stocks In Focus
Penn National Gaming Inc.
Last but not least, we will be taking a look at Penn National Gaming. By and large, the company works via a vast network of regional gaming operations across the U.S. This includes but is not limited to 43 properties spanning 20 states.
Not to mention, Penn has and continues to make significant investments in its Penn Interactive online gaming division. Thanks to this move, it can now cater to customers remotely via its iCasino and mobile sports betting app offerings. According to Penn, its gaming platform now serves over 24 million members.
As it stands, PENN stock now trades at $75.47 as of 9:58 a.m. ET. With gains of over 800% since its pandemic era low, could the company’s shares be worth investing in? If anything, Penn does not seem to be slowing down on the operational front anytime soon. Just yesterday, news broke of the approval of Penn’s latest acquisition plans involving theScore. Given that theScore is among the top media platforms in Canada, this would be a smart play by Penn. As such, would PENN stock be a top buy for you?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
5 Top Leisure Stocks To Buy [Or Sell] In October 2021 Carnival Corporation (NYSE: CCL) Tilray Inc. (NASDAQ: TLRY) American Airlines Group Inc. (NASDAQ: AAL) Royal Caribbean Cruises Ltd. (NYSE: RCL) Penn National Gaming Inc. (NASDAQ: PENN) Carnival Corporation To begin with, we have Carnival Corporation, one of the world’s largest leisure travel companies in the world. AAL stock currently trades at $20.09 as of 9:58 a.m. With that being said, should you consider buying AAL stock?
|
5 Top Leisure Stocks To Buy [Or Sell] In October 2021 Carnival Corporation (NYSE: CCL) Tilray Inc. (NASDAQ: TLRY) American Airlines Group Inc. (NASDAQ: AAL) Royal Caribbean Cruises Ltd. (NYSE: RCL) Penn National Gaming Inc. (NASDAQ: PENN) Carnival Corporation To begin with, we have Carnival Corporation, one of the world’s largest leisure travel companies in the world. AAL stock currently trades at $20.09 as of 9:58 a.m. With that being said, should you consider buying AAL stock?
|
5 Top Leisure Stocks To Buy [Or Sell] In October 2021 Carnival Corporation (NYSE: CCL) Tilray Inc. (NASDAQ: TLRY) American Airlines Group Inc. (NASDAQ: AAL) Royal Caribbean Cruises Ltd. (NYSE: RCL) Penn National Gaming Inc. (NASDAQ: PENN) Carnival Corporation To begin with, we have Carnival Corporation, one of the world’s largest leisure travel companies in the world. AAL stock currently trades at $20.09 as of 9:58 a.m. With that being said, should you consider buying AAL stock?
|
5 Top Leisure Stocks To Buy [Or Sell] In October 2021 Carnival Corporation (NYSE: CCL) Tilray Inc. (NASDAQ: TLRY) American Airlines Group Inc. (NASDAQ: AAL) Royal Caribbean Cruises Ltd. (NYSE: RCL) Penn National Gaming Inc. (NASDAQ: PENN) Carnival Corporation To begin with, we have Carnival Corporation, one of the world’s largest leisure travel companies in the world. AAL stock currently trades at $20.09 as of 9:58 a.m. With that being said, should you consider buying AAL stock?
|
4139.0
|
2021-10-08 00:00:00 UTC
|
LMEWEEK-Online metals platforms ramp up with physical trading, logistics
|
AAL
|
https://www.nasdaq.com/articles/lmeweek-online-metals-platforms-ramp-up-with-physical-trading-logistics-2021-10-08
|
nan
|
nan
|
By Eric Onstad
LONDON, Oct 8 (Reuters) - Online industrial metals platforms are gaining momentum this year by targeting the physical trade of minerals worth about half a trillion dollars a year, gradually enticing traders to move away from largely paper-based systems.
The digital venues have attracted traders as London Metal Exchange volumes fell after the coronavirus pandemic temporarily closed its floor for open outcry trading in March 2020. See FACTBOX:
As the metals industry gathers in person for LME Week starting on Monday, the digital venues are also tapping into the global move towards sustainability by embedding traceable data about sourcing and CO2 emissions into their systems.
Investors have shown confidence in the new online platforms, with MineHub MHUB.V listing in Canada last month and Swiss-based Open Mineral's $33 million fundraising including Abu Dhabi's sovereign wealth fund Mubadala.
Germany's Metalshub is set to more than triple turnover this year to 1 billion euros, attracting big clients such as miner Anglo American AAL.L.
"The metal industry is just painfully slow in adapting to technology," Chief Executive Frank Jackel of Metalshub told Reuters in an interview.
"But they now see it's making life much easier. Efficiency is one key factor and there's a huge compliance advantage."
BLOCKCHAIN, LOGISTICS
MineHub and TradeCloud in Singapore are seeking to digitise trade finance and logistics in metals and mining by using blockchain, a digital ledger.
MineHub provides services after deals have been agreed, similar to the fulfilment services by Amazon, Chief Executive Arnoud Busmann told Reuters.
"After the Amazon one-click, all the hard work starts - logistics, customs, payments - that's the bit that we do."
The platforms have succeeded in targeting physical trading as exchanges such as CME Group Inc CME.O and the LME 0388.HK largely cater for financial investors.
The exchanges include the option of physical delivery, but more than 99% of LME trades are financially settled.
Metalshub mainly deals in ferro-alloys used in the steel industry, which are not listed on the main exchanges. But its second most traded product is nickel, which is traded on the LME.
The platforms are attracting major companies, including the world's biggest listed mining group BHP BHPB.L, which signed up in April to become a user of MineHub after using it for its first blockchain trade in iron ore a year earlier.
Big firms using Metalshub include Anglo American and Finnish stainless steel producer Outokumpu OUT1V.HE.
Top 10 products traded on online platform Metalshubhttps://tmsnrt.rs/305oh0p
Turnover surges at online platform Metalshubhttps://tmsnrt.rs/3Bn12N8
(Reporting by Eric Onstad; editing by Pratima Desai and Louise Heavens)
((eric.onstad@thomsonreuters.com; +44 20 7542 7093; Twitter https://twitter.com/reutersEricO; Reuters Messaging: eric.onstad.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.
|
Germany's Metalshub is set to more than triple turnover this year to 1 billion euros, attracting big clients such as miner Anglo American AAL.L. See FACTBOX: As the metals industry gathers in person for LME Week starting on Monday, the digital venues are also tapping into the global move towards sustainability by embedding traceable data about sourcing and CO2 emissions into their systems. Investors have shown confidence in the new online platforms, with MineHub MHUB.V listing in Canada last month and Swiss-based Open Mineral's $33 million fundraising including Abu Dhabi's sovereign wealth fund Mubadala.
|
Germany's Metalshub is set to more than triple turnover this year to 1 billion euros, attracting big clients such as miner Anglo American AAL.L. By Eric Onstad LONDON, Oct 8 (Reuters) - Online industrial metals platforms are gaining momentum this year by targeting the physical trade of minerals worth about half a trillion dollars a year, gradually enticing traders to move away from largely paper-based systems. The digital venues have attracted traders as London Metal Exchange volumes fell after the coronavirus pandemic temporarily closed its floor for open outcry trading in March 2020.
|
Germany's Metalshub is set to more than triple turnover this year to 1 billion euros, attracting big clients such as miner Anglo American AAL.L. By Eric Onstad LONDON, Oct 8 (Reuters) - Online industrial metals platforms are gaining momentum this year by targeting the physical trade of minerals worth about half a trillion dollars a year, gradually enticing traders to move away from largely paper-based systems. The platforms are attracting major companies, including the world's biggest listed mining group BHP BHPB.L, which signed up in April to become a user of MineHub after using it for its first blockchain trade in iron ore a year earlier.
|
Germany's Metalshub is set to more than triple turnover this year to 1 billion euros, attracting big clients such as miner Anglo American AAL.L. By Eric Onstad LONDON, Oct 8 (Reuters) - Online industrial metals platforms are gaining momentum this year by targeting the physical trade of minerals worth about half a trillion dollars a year, gradually enticing traders to move away from largely paper-based systems. The platforms have succeeded in targeting physical trading as exchanges such as CME Group Inc CME.O and the LME 0388.HK largely cater for financial investors.
|
4140.0
|
2021-10-08 00:00:00 UTC
|
U.S. airlines look for holiday boost after Delta variant interrupts recovery
|
AAL
|
https://www.nasdaq.com/articles/u.s.-airlines-look-for-holiday-boost-after-delta-variant-interrupts-recovery-2021-10-08
|
nan
|
nan
|
By Rajesh Kumar Singh
BOSTON, Oct 8 (Reuters) - U.S. airlines are looking at the upcoming holiday season and the reopening of vital trans-Atlantic route to recover the momentum lost in the last quarter following a resurgence in COVID-19 cases.
After a strong summer travel season, air-carriers had to temper their outlook last month for the quarter through September as the fast spreading Delta variant of the coronavirus slowed down new bookings and drove up cancellations.
A month on, dipping COVID-19 cases have raised industry hopes that passengers would be more confident to fly again.
Financial services firm Raymond James conducted an analysis of the Transportation Security Administration's 7-day average passenger screening data, which showed that while the travel demand still lags the peak in late July, it has improved from the lows in mid-September.
"Cancellations have abated, bookings are recovering," Chief Executive of Hawaiian Holdings Inc HA.OPeter Ingram told Reuters in an interview. "As we get to Thanksgiving and Christmas, we've got the opportunity for a strong, solid recovery."
Bookings have also recovered at Delta Air Lines DAL.N, which expects domestic travel demand to surpass 2019 levels next year.
United Airlines UAL.O on Thursday said it would fly its biggest domestic schedule since the start of the pandemic, offering more than 3,500 daily domestic flights in December - representing 91% of its domestic capacity compared to 2019.
"There's a lot of pent-up demand," said Chief Executive Scott Kirby.
The International Air Transport Association (IATA), an consortium of 290 airlines, expects air-carriers in North America to return to profit next year before their counterparts in other geographies.
BUSINESS TRAVEL
The outlook for the industry's cash cow - business travel - remains uncertain.
Airlines for America, an industry trade group, estimates business travel accounted for as much as 50% of airline industry passenger revenues before the pandemic.
Carriers were banking on office reopenings for a revival in business trips this fall. But the Delta variant forced many large employers to push back their office openings into next year.
Airlines say a revival is inevitable. However, there is no consensus on the timeline.
United's Kirby expects business travel to rebound to the pre-pandemic levels in 2023, but JetBlue's JBLU.OChief Executive Robin Hayes reckons it could take "a few years."
The New York-based budget carrier has reallocated flights from some business markets into leisure markets, Hayes said.
"We continue to believe that...the holiday will be strong," Hayes told Reuters in an interview. "That's certainly what we see in our forward bookings at the moment."
TRANS-ATLANTIC ROUTE REOPENING
Airlines, meanwhile, are buoyed by the Biden administration's plan to reopen the United States in November to air travelers from Europe. The trans-Atlantic route is one of the most lucrative ones in the world and accounted for up to 17% of 2019 passenger revenues for the big three carriers.
All the U.S. carriers, which serve the market, has seen a surge in the bookings since the White House made the announcement.
Kirby said United's bookings for trans-Atlantic flights last week were above the same period in 2019. Sales have also jumped up at Delta Air and JetBlue.
The reopening is not just an opportunity, but is also considered a big test for the industry.
A successful reopening of the world's most important long-haul market is expected to set a trend for other markets to follow. However, a reimposition of the restrictions if COVID-19 cases start rising again could also slow the fragile recovery.
"Restrictions can't start reappearing where they have disappeared," said Hayes. "It acts as a big dampener to demand."
(Reporting by Rajesh Kumar Singh; Editing by Aurora Ellis)
((rajeshkumar.singh@thomsonreuters.com; +1-312-408-8537; Reuters Messaging: rajeshkumar.singh.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.
|
By Rajesh Kumar Singh BOSTON, Oct 8 (Reuters) - U.S. airlines are looking at the upcoming holiday season and the reopening of vital trans-Atlantic route to recover the momentum lost in the last quarter following a resurgence in COVID-19 cases. After a strong summer travel season, air-carriers had to temper their outlook last month for the quarter through September as the fast spreading Delta variant of the coronavirus slowed down new bookings and drove up cancellations. Financial services firm Raymond James conducted an analysis of the Transportation Security Administration's 7-day average passenger screening data, which showed that while the travel demand still lags the peak in late July, it has improved from the lows in mid-September.
|
Bookings have also recovered at Delta Air Lines DAL.N, which expects domestic travel demand to surpass 2019 levels next year. United's Kirby expects business travel to rebound to the pre-pandemic levels in 2023, but JetBlue's JBLU.OChief Executive Robin Hayes reckons it could take "a few years." "We continue to believe that...the holiday will be strong," Hayes told Reuters in an interview.
|
Bookings have also recovered at Delta Air Lines DAL.N, which expects domestic travel demand to surpass 2019 levels next year. Airlines for America, an industry trade group, estimates business travel accounted for as much as 50% of airline industry passenger revenues before the pandemic. United's Kirby expects business travel to rebound to the pre-pandemic levels in 2023, but JetBlue's JBLU.OChief Executive Robin Hayes reckons it could take "a few years."
|
Bookings have also recovered at Delta Air Lines DAL.N, which expects domestic travel demand to surpass 2019 levels next year. Airlines for America, an industry trade group, estimates business travel accounted for as much as 50% of airline industry passenger revenues before the pandemic. The trans-Atlantic route is one of the most lucrative ones in the world and accounted for up to 17% of 2019 passenger revenues for the big three carriers.
|
4141.0
|
2021-10-08 00:00:00 UTC
|
Australian carbon offset prices hit record high in polluters' spree
|
AAL
|
https://www.nasdaq.com/articles/australian-carbon-offset-prices-hit-record-high-in-polluters-spree-2021-10-08
|
nan
|
nan
|
By Sonali Paul
MELBOURNE, Oct 8 (Reuters) - Australia's carbon offset prices have jumped 75% to a record high this year in a buying spree by major polluters who need offsets after exceeding emissions levels set by the government.
The unexpected surge in demand to meet a February regulatory deadline amid a temporary shortage of credits has driven prices higher. They could spike even further if Australia bows to international pressure to tighten its emissions reduction pledge for 2030 ahead of a UN climate summit which starts on Oct. 31.
Australian Carbon Credit Unit (ACCU) prices hit A$29.50 ($21.51) a tonne this week, up from A$16.52 at the start of the year, data from research firm Reputex and Jarden showed.
Australia's conservative government is also facing global pressure to set a net zero emissions target for 2050 ahead of the Glasgow climate summit, which would impact the offset market over a longer term.
"There's unanticipated demand creating a scramble for credits," said Reputex's director of research, Bret Harper.
Major miners like Anglo American AAL.L and metal processors like Alcoa's AA.N Portland aluminium smelter, which have been emitting above baselines set under Australia's emissions "safeguard mechanism", have had to buy ACCUs to surrender to the government to offset their excesses.
Anglo American's emissions have climbed as it digs deeper underground into coal seams that contain more methane. It captures around 65% of the methane produced at its mine and uses it to generate electricity, and is also pursuing new technology to meet a goal of net zero by 2040, a company spokesperson said.
"Where we have exceeded baselines due to geological or operational issues, and in ensuring the safety of our people, we have proactively purchased ACCUs as offsets, although under multi-year averaging arrangements, we may not require all of them," the spokesperson said in emailed comments.
The Clean Energy Regulator, which issues ACCUs, said it expects to issue a record 17 million ACCUs this year, representing 17 million tonnes of carbon emissions, up from 16 million last year.
While there is a shortage now, ACCU supply is set to grow as carbon brokers create more offsets by teaming up with farmers for reforestation, avoided deforestation and soil carbon projects. The government last week also approved carbon capture and storage projects to generate ACCUs.
The National Farmers Federation (NFF), though, says farmers should be careful about tying up land in carbon sequestration projects when carbon offset prices are so low in Australia compared to elsewhere in the world and they have to split proceeds with brokers and developers.
"While we're pro-choice, we don't want the farm sector to give up land for everyone else who's a carbon emitter," said Warwick Ragg, the NFF's general manager for natural resource management.
European Union (EU) carbon prices have soared this year to more than 60 euros ($69.39) a tonne, more than triple the offsets in Australia, spurred by the EU's new target to cut carbon emissions by 55% from 1990 levels by 2030.
Harper said demand for Australia's carbon offsets will rise over the long run, whether or not the government sets a net zero target, as major companies with their own carbon neutral targets find there is limited technology to meet them.
"Demand for these credits just keeps going up and up and up as more entities realise what it's going to take to get to net zero. I think demand will do nothing but increase broadly," Harper said.
($1 = 0.8647 euros)
($1 = 1.3712 Australian dollars)
($1 = 6.4496 yuan)
(Reporting by Sonali Paul; Editing by Tom Hogue)
((Sonali.Paul@thomsonreuters.com; +61 407 119 523;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Major miners like Anglo American AAL.L and metal processors like Alcoa's AA.N Portland aluminium smelter, which have been emitting above baselines set under Australia's emissions "safeguard mechanism", have had to buy ACCUs to surrender to the government to offset their excesses. Australia's conservative government is also facing global pressure to set a net zero emissions target for 2050 ahead of the Glasgow climate summit, which would impact the offset market over a longer term. "Where we have exceeded baselines due to geological or operational issues, and in ensuring the safety of our people, we have proactively purchased ACCUs as offsets, although under multi-year averaging arrangements, we may not require all of them," the spokesperson said in emailed comments.
|
Major miners like Anglo American AAL.L and metal processors like Alcoa's AA.N Portland aluminium smelter, which have been emitting above baselines set under Australia's emissions "safeguard mechanism", have had to buy ACCUs to surrender to the government to offset their excesses. By Sonali Paul MELBOURNE, Oct 8 (Reuters) - Australia's carbon offset prices have jumped 75% to a record high this year in a buying spree by major polluters who need offsets after exceeding emissions levels set by the government. Australia's conservative government is also facing global pressure to set a net zero emissions target for 2050 ahead of the Glasgow climate summit, which would impact the offset market over a longer term.
|
Major miners like Anglo American AAL.L and metal processors like Alcoa's AA.N Portland aluminium smelter, which have been emitting above baselines set under Australia's emissions "safeguard mechanism", have had to buy ACCUs to surrender to the government to offset their excesses. By Sonali Paul MELBOURNE, Oct 8 (Reuters) - Australia's carbon offset prices have jumped 75% to a record high this year in a buying spree by major polluters who need offsets after exceeding emissions levels set by the government. European Union (EU) carbon prices have soared this year to more than 60 euros ($69.39) a tonne, more than triple the offsets in Australia, spurred by the EU's new target to cut carbon emissions by 55% from 1990 levels by 2030.
|
Major miners like Anglo American AAL.L and metal processors like Alcoa's AA.N Portland aluminium smelter, which have been emitting above baselines set under Australia's emissions "safeguard mechanism", have had to buy ACCUs to surrender to the government to offset their excesses. "There's unanticipated demand creating a scramble for credits," said Reputex's director of research, Bret Harper. Harper said demand for Australia's carbon offsets will rise over the long run, whether or not the government sets a net zero target, as major companies with their own carbon neutral targets find there is limited technology to meet them.
|
4142.0
|
2021-10-07 00:00:00 UTC
|
Biden says U.S. will 'deal' with violence on airplanes
|
AAL
|
https://www.nasdaq.com/articles/biden-says-u.s.-will-deal-with-violence-on-airplanes-2021-10-07
|
nan
|
nan
|
By David Shepardson
WASHINGTON, Oct 7 (Reuters) - U.S. President Joe Biden said on Thursday he had instructed the Justice Department to "deal" with the rising number of violent incidents onboard airplanes, many involving the requirement to wear face coverings.
"I've instructed the Justice Department to make sure that we deal with the violence on aircraft," Biden said at a speech in Illinois. "We're going to deal with that."
To date this year, there have been 4,626 reports of unruly passenger incidents, including 3,366 that were mask-related. The Federal Aviation Administration (FAA) has initiated enforcement actions in 177 cases, issuing more than $1 million in proposed fines.
The Justice Department did not immediately comment.
Many incidents onboard airplanes have been captured by passengers and posted on social media, drawing significant attention.
Last month, two senior U.S. Senate Democrats urged Attorney General Merrick Garland to investigate and prosecute unruly air passengers due to the surge in such behavior during the coronavirus pandemic.
In June, a group representing major U.S. airlines such as American Airlines AAL.O, Delta Air Lines DAL.N and United Airlines UAL.O, and aviation unions also asked Garland to prosecute the growing number of disruptive and violent air passengers.
The letter from Airlines for America said the "incidents pose a safety and security threat to our passengers and employees."
Last month, Delta called on other U.S. airlines to share lists of passengers who have been banned during the COVID-19 pandemic for disruptive behavior to help deter the rising number of incidents. The carrier said during the COVID-19 pandemic it has put more than 1,600 people on its "no fly" list.
FAA Administrator Steve Dickson imposed in January a zero-tolerance order on passenger disturbances aboard airplanes after supporters of former U.S. President Donald Trump were disruptive on flights around the Jan. 6 U.S. Capitol attack.
That policy will extend until at least as long as federal mask rules on airplanes are in place, which were extended in August into mid-January 2022.
(Reporting by David Shepardson Editing by Bill Berkrot)
((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.
|
In June, a group representing major U.S. airlines such as American Airlines AAL.O, Delta Air Lines DAL.N and United Airlines UAL.O, and aviation unions also asked Garland to prosecute the growing number of disruptive and violent air passengers. By David Shepardson WASHINGTON, Oct 7 (Reuters) - U.S. President Joe Biden said on Thursday he had instructed the Justice Department to "deal" with the rising number of violent incidents onboard airplanes, many involving the requirement to wear face coverings. Last month, two senior U.S. Senate Democrats urged Attorney General Merrick Garland to investigate and prosecute unruly air passengers due to the surge in such behavior during the coronavirus pandemic.
|
In June, a group representing major U.S. airlines such as American Airlines AAL.O, Delta Air Lines DAL.N and United Airlines UAL.O, and aviation unions also asked Garland to prosecute the growing number of disruptive and violent air passengers. By David Shepardson WASHINGTON, Oct 7 (Reuters) - U.S. President Joe Biden said on Thursday he had instructed the Justice Department to "deal" with the rising number of violent incidents onboard airplanes, many involving the requirement to wear face coverings. The Federal Aviation Administration (FAA) has initiated enforcement actions in 177 cases, issuing more than $1 million in proposed fines.
|
In June, a group representing major U.S. airlines such as American Airlines AAL.O, Delta Air Lines DAL.N and United Airlines UAL.O, and aviation unions also asked Garland to prosecute the growing number of disruptive and violent air passengers. By David Shepardson WASHINGTON, Oct 7 (Reuters) - U.S. President Joe Biden said on Thursday he had instructed the Justice Department to "deal" with the rising number of violent incidents onboard airplanes, many involving the requirement to wear face coverings. Last month, Delta called on other U.S. airlines to share lists of passengers who have been banned during the COVID-19 pandemic for disruptive behavior to help deter the rising number of incidents.
|
In June, a group representing major U.S. airlines such as American Airlines AAL.O, Delta Air Lines DAL.N and United Airlines UAL.O, and aviation unions also asked Garland to prosecute the growing number of disruptive and violent air passengers. By David Shepardson WASHINGTON, Oct 7 (Reuters) - U.S. President Joe Biden said on Thursday he had instructed the Justice Department to "deal" with the rising number of violent incidents onboard airplanes, many involving the requirement to wear face coverings. Last month, Delta called on other U.S. airlines to share lists of passengers who have been banned during the COVID-19 pandemic for disruptive behavior to help deter the rising number of incidents.
|
4143.0
|
2021-10-07 00:00:00 UTC
|
Delta Air Lines Expands Again in Boston
|
AAL
|
https://www.nasdaq.com/articles/delta-air-lines-expands-again-in-boston-2021-10-07
|
nan
|
nan
|
Two years ago, Delta Air Lines (NYSE: DAL) was expanding rapidly in Boston. The onset of the COVID-19 pandemic in early 2020 forced it to pause that growth. However, Delta is now looking to resume its Boston growth plan, boosting capacity to record levels by next summer. That represents mixed news for market leader JetBlue Airways (NASDAQ: JBLU) and its new partner, American Airlines (NASDAQ: AAL).
On a growth tear in Boston
Delta has been growing rapidly in Boston for several years. In June 2019, Delta named Boston as its newest hub. By that point, the global airline had already doubled its daily domestic departures from Boston compared to 2013.
A few months later, Delta took over the five gates it did not previously control at Logan Airport's Terminal A. That gave it a total of 21 gates in Boston. It used those extra gates to launch nonstop flights from Boston to four key markets -- Chicago, Miami, Newark, and Washington, D.C.'s Reagan National Airport -- in late 2019. Around that time, Delta announced that it would add several new international flights from Boston in 2020.
This domestic and international growth positioned Delta and its joint-venture partners to operate over 150 daily departures at Logan Airport by March 2020.
Image source: Delta Air Lines.
Of course, March 2020 was exactly when the full force of the pandemic hit the U.S. airline industry. The Boston area fared particularly poorly in the early months of the pandemic, partly due to a late-February conference that became a superspreader event. As a result, by late April of 2020, Delta had slashed its Boston schedule to a barebones operation serving its other hubs.
Returning to growth mode
Over the past year, Delta has gradually rebuilt its schedules in Boston. During the summer of 2021, it operated an average of 84 daily departures from Boston to 38 destinations.
Next week, it will begin offering nonstop flights to Charlotte and Dallas-Fort Worth: two key business markets that also happen to be American Airlines' biggest hubs. And in July, Delta confirmed that it will resume half a dozen routes to the Caribbean -- a key bastion for JetBlue -- in December.
The carrier announced another wave of growth in Boston on Sunday, which will increase its service to 160 peak-day Delta-operated departures next summer. The company says this represents 20%-plus capacity growth over the pre-pandemic peak in October 2019.
First, Delta plans to launch nonstop routes from Boston to Athens and Tel Aviv just in time for Memorial Day in 2022. Second, it will begin offering nonstop flights to Baltimore, Denver, and San Diego next July. That will give it a presence in each of the top 20 domestic markets from Boston.
Image source: Delta Air Lines.
A blessing in disguise for JetBlue and American Airlines?
JetBlue is the top airline in Boston, with 33% market share on domestic routes in 2019. American Airlines was previously the market leader, although it has fallen back to third place in recent years. Delta's growth plans entail moving into markets that both of those airlines have dominated from Boston.
On one level, that's clearly bad news for JetBlue and American. By ramping up capacity to beyond 2019 levels, Delta will put pressure on airfares in Boston, particularly on routes where it hasn't previously competed. Additionally, by filling in the last few gaps in its service from Boston to key business markets, Delta Air Lines will become an even more formidable rival for business travelers.
The silver lining is that Delta's aggressive growth in Boston could help JetBlue and American Airlines beat back an antitrust challenge to their Northeast Alliance. Earlier this year, the two carriers began codesharing and splitting revenue on flights to and from New York and Boston. The goal is to compete more effectively with Delta -- and, to a lesser extent, United Airlines -- by combining JetBlue's local market strength with American's long-haul flights, global route network, and enormous frequent-flyer database.
The Department of Justice and several states have alleged that the JetBlue-American partnership will be anticompetitive. Indeed, in Boston, JetBlue and American Airlines' combined market share exceeds 50%. But if Delta's growth in Boston pushes down fares, JetBlue and American Airlines will have a compelling argument that there is still plenty of competition there, increasing the likelihood that they can continue to work together.
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 September 17, 2021
Adam Levine-Weinberg owns shares of Delta Air Lines and JetBlue Airways. The Motley Fool recommends 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.
|
That represents mixed news for market leader JetBlue Airways (NASDAQ: JBLU) and its new partner, American Airlines (NASDAQ: AAL). It used those extra gates to launch nonstop flights from Boston to four key markets -- Chicago, Miami, Newark, and Washington, D.C.'s Reagan National Airport -- in late 2019. Next week, it will begin offering nonstop flights to Charlotte and Dallas-Fort Worth: two key business markets that also happen to be American Airlines' biggest hubs.
|
That represents mixed news for market leader JetBlue Airways (NASDAQ: JBLU) and its new partner, American Airlines (NASDAQ: AAL). This domestic and international growth positioned Delta and its joint-venture partners to operate over 150 daily departures at Logan Airport by March 2020. Additionally, by filling in the last few gaps in its service from Boston to key business markets, Delta Air Lines will become an even more formidable rival for business travelers.
|
That represents mixed news for market leader JetBlue Airways (NASDAQ: JBLU) and its new partner, American Airlines (NASDAQ: AAL). On a growth tear in Boston Delta has been growing rapidly in Boston for several years. The silver lining is that Delta's aggressive growth in Boston could help JetBlue and American Airlines beat back an antitrust challenge to their Northeast Alliance.
|
That represents mixed news for market leader JetBlue Airways (NASDAQ: JBLU) and its new partner, American Airlines (NASDAQ: AAL). However, Delta is now looking to resume its Boston growth plan, boosting capacity to record levels by next summer. JetBlue is the top airline in Boston, with 33% market share on domestic routes in 2019.
|
4144.0
|
2021-10-06 00:00:00 UTC
|
US STOCKS-Wall Street ends higher on optimism about U.S. debt-ceiling deal
|
AAL
|
https://www.nasdaq.com/articles/us-stocks-wall-street-ends-higher-on-optimism-about-u.s.-debt-ceiling-deal-2021-10-06
|
nan
|
nan
|
By Noel Randewich and Shreyashi Sanyal
Oct 6 (Reuters) - Wall Street ended higher on Wednesday as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default.
Top U.S. Senate Republican Mitch McConnell said his party would support an extension of the federal debt ceiling into December. This would head off a historic default that would exact a heavy economic toll.
"McConnell made some dovish comments about temporarily extending the debt ceiling," said Jay Hatfield, founder and portfolio manager at Infrastructure Capital Advisors. "That's going to be interpreted in the short-run as positive."
McConnell's offer could provide an off-ramp to a months-long standoff between President Joe Biden's Democrats and McConnell's Republicans, who had been expected on Wednesday to block a third attempt by Senate Democrats to raise the $28.4 trillion debt ceiling.
Stocks were lower for much of the session after a strong showing of private jobs in September fueled bets the Federal Reserve could start reining in monetary stimulus soon.
Unofficially, the Dow Jones Industrial Average .DJI rose 0.3% to end at 34,417.98 points, while the S&P 500 .SPX gained 0.41% to 4,363.62.
The Nasdaq Composite .IXIC climbed 0.47% to 14,501.91.
Mega-cap growth stocks Amazon and Microsoft both rose after the benchmark U.S. 10-year Treasury yield US10YT=RR retreated from three-month highs by early afternoon. US/
The ADP National Employment Report showed private payrolls increased by 568,000 jobs last month. Economists polled by Reuters had forecast a rise of 428,000 jobs.
"Positive labor market data comes with the implication that the Fed can tighten policy at a quicker pace. But the fact that hiring is up shouldn't be discounted — it's definitely a good thing in terms of recovery," said Mike Loewengart, managing director, investment strategy at E*TRADE Financial.
The more comprehensive non-farm payrolls data is due on Friday. It is expected to cement the case for the Fed's slowing of asset purchases.
Oil prices hit multi-year highs early, but crude prices retreated from those highs while the S&P 500 energy sector index .SPNY slid 1%, the weakest performer among 11 sector indexes.
American Airlines Group AAL.Ofell after Goldman Sachs cut its rating on the carrier to "sell" from "neutral".
Shares in steelmaker Nucor Corp NUE.Ndropped after Goldman Sachs lowered its rating to "neutral" from "buy".
(Additional reporting by Shreyashi Sanyal, Devik Jain and Sruthi Shankar in Bengaluru; Editing by Saumyadeb Chakrabarty, Maju Samuel and David Gregorio)
((noel.randewich@tr.com; Twitter: @randewich))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
American Airlines Group AAL.Ofell after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". By Noel Randewich and Shreyashi Sanyal Oct 6 (Reuters) - Wall Street ended higher on Wednesday as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default. "McConnell made some dovish comments about temporarily extending the debt ceiling," said Jay Hatfield, founder and portfolio manager at Infrastructure Capital Advisors.
|
American Airlines Group AAL.Ofell after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". By Noel Randewich and Shreyashi Sanyal Oct 6 (Reuters) - Wall Street ended higher on Wednesday as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default. US/ The ADP National Employment Report showed private payrolls increased by 568,000 jobs last month.
|
American Airlines Group AAL.Ofell after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". By Noel Randewich and Shreyashi Sanyal Oct 6 (Reuters) - Wall Street ended higher on Wednesday as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default. McConnell's offer could provide an off-ramp to a months-long standoff between President Joe Biden's Democrats and McConnell's Republicans, who had been expected on Wednesday to block a third attempt by Senate Democrats to raise the $28.4 trillion debt ceiling.
|
American Airlines Group AAL.Ofell after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". This would head off a historic default that would exact a heavy economic toll. McConnell's offer could provide an off-ramp to a months-long standoff between President Joe Biden's Democrats and McConnell's Republicans, who had been expected on Wednesday to block a third attempt by Senate Democrats to raise the $28.4 trillion debt ceiling.
|
4145.0
|
2021-10-06 00:00:00 UTC
|
US STOCKS-Wall Street rises on optimism about U.S. debt-ceiling deal
|
AAL
|
https://www.nasdaq.com/articles/us-stocks-wall-street-rises-on-optimism-about-u.s.-debt-ceiling-deal-2021-10-06-0
|
nan
|
nan
|
By Noel Randewich and Shreyashi Sanyal
Oct 6 (Reuters) - U.S. stock indexes rose on Wednesday, recouping early losses and turning positive as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default.
Top U.S. Senate Republican Mitch McConnell said his party would support an extension of the federal debt ceiling into December, a move that would head off a historic default with a heavy economic toll.
"McConnell made some dovish comments about temporarily extending the debt ceiling," said Jay Hatfield, founder and portfolio manager at Infrastructure Capital Advisors. "That's going to be interpreted in the short-run as positive."
McConnell's offer could provide an off-ramp to a months-long standoff between President Joe Biden's Democrats and McConnell's Republicans, who had been expected on Wednesday to block a third attempt by Senate Democrats to raise the $28.4 trillion debt ceiling.
In afternoon trade, the Dow Jones Industrial Average .DJI was up 0.14% at 34,363.3 points, while the S&P 500 .SPX gained 0.25% to 4,356.69.
The Nasdaq Composite .IXIC added 0.43% to 14,495.61.
Stocks fell early after a strong showing of private jobs in September fueled bets the Federal Reserve could start reining in monetary stimulus soon.
Mega-cap growth stocks Amazon and Microsoft both were last up more than 1%, surging after the benchmark U.S. 10-year Treasury yield US10YT=RR retreated from three-month highs by early afternoon. US/
The ADP National Employment Report showed private payrolls increased by 568,000 jobs last month. Economists polled by Reuters had forecast a rise of 428,000 jobs.
"Positive labor market data comes with the implication that the Fed can tighten policy at a quicker pace. But the fact that hiring is up shouldn't be discounted — it's definitely a good thing in terms of recovery," said Mike Loewengart, managing director, investment strategy at E*TRADE Financial.
The more comprehensive non-farm payrolls data is due on Friday. It is expected to cement the case for the Fed's slowing of asset purchases.
Oil prices hit multi-year highs early, but crude prices retreated from those highs while the S&P 500 energy sector index .SPNYslid 1%, the weakest performer among 11 sector indexes.
American Airlines Group AAL.O fell 3.7% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral".
Shares in steelmaker Nucor Corp NUE.Ndropped 2.5% after Goldman Sachs lowered its rating to "neutral" from "buy".
Declining issues outnumbered advancing ones on the NYSE by a 1.71-to-1 ratio; on Nasdaq, a 1.55-to-1 ratio favored decliners.
The S&P 500 posted 1 new 52-week highs and 9 new lows; the Nasdaq Composite recorded 25 new highs and 229 new lows.
(Additional reporting by Shreyashi Sanyal, Devik Jain and Sruthi Shankar in Bengaluru; Editing by Saumyadeb Chakrabarty, Maju Samuel and David Gregorio)
((noel.randewich@tr.com; Twitter: @randewich))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
American Airlines Group AAL.O fell 3.7% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". By Noel Randewich and Shreyashi Sanyal Oct 6 (Reuters) - U.S. stock indexes rose on Wednesday, recouping early losses and turning positive as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default. Top U.S. Senate Republican Mitch McConnell said his party would support an extension of the federal debt ceiling into December, a move that would head off a historic default with a heavy economic toll.
|
American Airlines Group AAL.O fell 3.7% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". By Noel Randewich and Shreyashi Sanyal Oct 6 (Reuters) - U.S. stock indexes rose on Wednesday, recouping early losses and turning positive as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default. Stocks fell early after a strong showing of private jobs in September fueled bets the Federal Reserve could start reining in monetary stimulus soon.
|
American Airlines Group AAL.O fell 3.7% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". By Noel Randewich and Shreyashi Sanyal Oct 6 (Reuters) - U.S. stock indexes rose on Wednesday, recouping early losses and turning positive as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default. McConnell's offer could provide an off-ramp to a months-long standoff between President Joe Biden's Democrats and McConnell's Republicans, who had been expected on Wednesday to block a third attempt by Senate Democrats to raise the $28.4 trillion debt ceiling.
|
American Airlines Group AAL.O fell 3.7% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". McConnell's offer could provide an off-ramp to a months-long standoff between President Joe Biden's Democrats and McConnell's Republicans, who had been expected on Wednesday to block a third attempt by Senate Democrats to raise the $28.4 trillion debt ceiling. US/ The ADP National Employment Report showed private payrolls increased by 568,000 jobs last month.
|
4146.0
|
2021-10-06 00:00:00 UTC
|
US STOCKS-Wall Street rises on optimism about U.S. debt-ceiling deal
|
AAL
|
https://www.nasdaq.com/articles/us-stocks-wall-street-rises-on-optimism-about-u.s.-debt-ceiling-deal-2021-10-06
|
nan
|
nan
|
By Noel Randewich and Shreyashi Sanyal
Oct 6 (Reuters) - U.S. stock indexes rose on Wednesday, turning positive after early losses as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default.
U.S. Senate Republican Leader Mitch McConnell plans to offer a short-term hike to the nation's borrowing limit that should last through November, reporters from Bloomberg and Punchbowl News said on Twitter.
"McConnell made some dovish comments about temporarily extending the debt ceiling," said Jay Hatfield, founder and portfolio manager at Infrastructure Capital Advisors. "That's going to be interpreted in the short-run as positive."
McConnell's comments came as Senate Democrats planned a third attempt to get Republicans to vote to raise the federal government's borrowing authority and head off a catastrophic default.
In afternoon trade, the Dow Jones Industrial Average .DJI was up 0.05% at 34,330.95 points, while the S&P 500 .SPX gained 0.14% to 4,352.01.
The Nasdaq Composite .IXIC added 0.32% to 14,479.36.
Stocks fell early after a strong showing of private jobs in September fueled bets the Federal Reserve could start reining in monetary stimulus soon.
Mega-cap growth stocks Amazon and Microsoft both were last up more than 1%, surging after the benchmark U.S. 10-year Treasury yield US10YT=RR retreated from three-month highs by early afternoon. US/
The ADP National Employment Report showed private payrolls increased by 568,000 jobs last month. Economists polled by Reuters had forecast a rise of 428,000 jobs.
"Positive labor market data comes with the implication that the Fed can tighten policy at a quicker pace. But the fact that hiring is up shouldn't be discounted — it's definitely a good thing in terms of recovery," said Mike Loewengart, managing director, investment strategy at E*TRADE Financial.
The more comprehensive non-farm payrolls data is due on Friday. It is expected to cement the case for the Fed's slowing of asset purchases.
Oil prices hit multi-year highs early, but crude prices retreated from those highs while the S&P 500 energy sector index .SPNY slid 0.9%, the weakest performer among 11 sector indexes.
American Airlines Group AAL.O fell 3.8% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral".
Shares in steelmaker Nucor Corp NUE.N dropped 2.5% after Goldman Sachs lowered its rating to "neutral" from "buy".
Declining issues outnumbered advancing ones on the NYSE by a 2.12-to-1 ratio; on Nasdaq, a 1.85-to-1 ratio favored decliners.
The S&P 500 posted 1 new 52-week highs and 9 new lows; the Nasdaq Composite recorded 21 new highs and 227 new lows.
(Additional reporting by Shreyashi Sanyal, Devik Jain and Sruthi Shankar in Bengaluru; Editing by Saumyadeb Chakrabarty, Maju Samuel and David Gregorio)
((noel.randewich@tr.com; Twitter: @randewich))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
American Airlines Group AAL.O fell 3.8% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". By Noel Randewich and Shreyashi Sanyal Oct 6 (Reuters) - U.S. stock indexes rose on Wednesday, turning positive after early losses as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default. U.S. Senate Republican Leader Mitch McConnell plans to offer a short-term hike to the nation's borrowing limit that should last through November, reporters from Bloomberg and Punchbowl News said on Twitter.
|
American Airlines Group AAL.O fell 3.8% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". By Noel Randewich and Shreyashi Sanyal Oct 6 (Reuters) - U.S. stock indexes rose on Wednesday, turning positive after early losses as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default. McConnell's comments came as Senate Democrats planned a third attempt to get Republicans to vote to raise the federal government's borrowing authority and head off a catastrophic default.
|
American Airlines Group AAL.O fell 3.8% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". By Noel Randewich and Shreyashi Sanyal Oct 6 (Reuters) - U.S. stock indexes rose on Wednesday, turning positive after early losses as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default. Oil prices hit multi-year highs early, but crude prices retreated from those highs while the S&P 500 energy sector index .SPNY slid 0.9%, the weakest performer among 11 sector indexes.
|
American Airlines Group AAL.O fell 3.8% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". McConnell's comments came as Senate Democrats planned a third attempt to get Republicans to vote to raise the federal government's borrowing authority and head off a catastrophic default. US/ The ADP National Employment Report showed private payrolls increased by 568,000 jobs last month.
|
4147.0
|
2021-10-06 00:00:00 UTC
|
Why Airlines Stocks Are Falling Today
|
AAL
|
https://www.nasdaq.com/articles/why-airlines-stocks-are-falling-today-2021-10-06
|
nan
|
nan
|
What happened
On Wednesday, a pair of airline stocks were downgraded by a leading Wall Street analyst. The whole sector is selling off as a result, with shares of American Airlines Group (NASDAQ: AAL), JetBlue Airways (NASDAQ: JBLU), and Spirit Airlines (NYSE: SAVE) leading the way down about 5% each in midday trading.
So what
Airline stocks have experienced some turbulence of late, caught between investors bullish on a post-pandemic economic recovery and those who are worried about whether the pandemic is really over, among other issues. On Wednesday, the bears are in charge after Goldman Sachs downgraded both American and JetBlue.
Image source: Getty Images.
Goldman's Catherine O'Brien downgraded JetBlue to neutral from buy and cut her price target to $17 from $20. In an accompanying note, O'Brien said she remains positive the airlines are on the path to a recovery but is worried fourth-quarter results and the 2022 outlook could be put under pressure due to higher fuel costs and an uncertain revenue environment.
O'Brien also took American to a sell from a neutral and cut that airline's price target to $18 from $19. American, she notes, has "relatively higher" operating leverage than its rivals, and that will eat into profitability as conditions slowly normalize.
In short, the analyst is predicting that over the near-to-medium term, cost pressures are likely to outrun pricing power, putting pressure on results. That is likely to continue until corporate travel returns, which is not expected to happen in earnest until 2022 at the earliest.
Those concerns can easily be translated to the entire airline sector, and Spirit, which is viewed as a likely beneficiary of a quick recovery, is being hit particularly hard. Delta Air Lines (NYSE: DAL) was off about 2.5% after it too was the target of a downgrade, with Wolfe Research lowering the shares to peer perform from outperform on valuation.
Now what
Overall, Goldman's O'Brien remains upbeat that the airlines are recovering. The issue is the timing. Her logic is hard to argue with.
For those with a long-term mindset and who are willing to hold through whatever headwinds might lie up ahead, there is nothing in this research that should be cause for panic. The U.S. aviation sector has shown surprising resiliency through the pandemic crisis and is well positioned to hold on now through whatever COVID variants or other unexpected twists might lie ahead.
Given the risks, I believe it is best to focus on best-of-breed operators with superior balance sheets like Delta and Southwest Airlines (NYSE: LUV). Airlines might take investors on a wild ride in the months to come, but the long-term future for the sector looks a lot better now than it did in the early days of the pandemic.
10 stocks we like better than JetBlue Airways
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 JetBlue Airways 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 September 17, 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.
|
The whole sector is selling off as a result, with shares of American Airlines Group (NASDAQ: AAL), JetBlue Airways (NASDAQ: JBLU), and Spirit Airlines (NYSE: SAVE) leading the way down about 5% each in midday trading. In an accompanying note, O'Brien said she remains positive the airlines are on the path to a recovery but is worried fourth-quarter results and the 2022 outlook could be put under pressure due to higher fuel costs and an uncertain revenue environment. Delta Air Lines (NYSE: DAL) was off about 2.5% after it too was the target of a downgrade, with Wolfe Research lowering the shares to peer perform from outperform on valuation.
|
The whole sector is selling off as a result, with shares of American Airlines Group (NASDAQ: AAL), JetBlue Airways (NASDAQ: JBLU), and Spirit Airlines (NYSE: SAVE) leading the way down about 5% each in midday trading. Goldman's Catherine O'Brien downgraded JetBlue to neutral from buy and cut her price target to $17 from $20. The Motley Fool recommends Delta Air Lines, JetBlue Airways, and Southwest Airlines.
|
The whole sector is selling off as a result, with shares of American Airlines Group (NASDAQ: AAL), JetBlue Airways (NASDAQ: JBLU), and Spirit Airlines (NYSE: SAVE) leading the way down about 5% each in midday trading. See the 10 stocks *Stock Advisor returns as of September 17, 2021 Lou Whiteman owns shares of Delta Air Lines and Spirit Airlines. The Motley Fool recommends Delta Air Lines, JetBlue Airways, and Southwest Airlines.
|
The whole sector is selling off as a result, with shares of American Airlines Group (NASDAQ: AAL), JetBlue Airways (NASDAQ: JBLU), and Spirit Airlines (NYSE: SAVE) leading the way down about 5% each in midday trading. So what Airline stocks have experienced some turbulence of late, caught between investors bullish on a post-pandemic economic recovery and those who are worried about whether the pandemic is really over, among other issues. In an accompanying note, O'Brien said she remains positive the airlines are on the path to a recovery but is worried fourth-quarter results and the 2022 outlook could be put under pressure due to higher fuel costs and an uncertain revenue environment.
|
4148.0
|
2021-10-06 00:00:00 UTC
|
Wall St falls as private jobs data sparks taper fears
|
AAL
|
https://www.nasdaq.com/articles/wall-st-falls-as-private-jobs-data-sparks-taper-fears-2021-10-06
|
nan
|
nan
|
By Shreyashi Sanyal and Devik Jain
Oct 6 (Reuters) - U.S. stock indexes fell on Wednesday after a strong showing of private jobs in September fueled bets that the Federal Reserve could start reining in its monetary stimulus soon, while worries lingered about the government debt ceiling.
A gridlock in Congress about the debt limit showed no sign of abating, as Senate Democrats planned a third attempt to get Republicans to vote to raise the federal government's borrowing authority and head off a catastrophic default.
"There's definitely no question that there's unease and uncertainty that is finally weighing on investor sentiment and performance," said Ross Mayfield, investment strategy analyst at Baird in Louisville, Kentucky.
"Between the policy issues - the debt ceiling and the status of two large spending bills - to see the stocks sell off after such an extended run is not all that surprising."
Mega-cap growth companies pared some declines, with Amazon.com Inc AMZN.O, Microsoft Corp MSFT.O and Alphabet Inc GOOGL.O edging higher after the benchmark U.S. 10-year yield US10YT=RR retreated from three-month highs by early afternoon trading. US/
Still, all the 11 major S&P 500 sector indexes were trading lower, with financials .SPSY and industrials .SPLRCI down 1% each.
The ADP National Employment Report showed private payrolls increased by 568,000 jobs last month. Economists polled by Reuters had forecast a rise of 428,000 jobs.
"Positive labor market data comes with the implication that the Fed can tighten policy at a quicker pace. But the fact that hiring is up shouldn't be discounted — it's definitely a good thing in terms of recovery," said Mike Loewengart, managing director, investment strategy at E*TRADE Financial.
The numbers come ahead of the more comprehensive non-farm payrolls data on Friday, which is expected to cement the case for the Federal Reserve's slowing of asset purchases.
Oil prices hit multi-year highs earlier in the day, stoking concerns that major central banks will tighten monetary policy to counter sharp price rises. However, crude prices retreated from those highs, while the S&P 500 energy sector .SPNY slid 1.5%.
Up to Tuesday's close, the S&P 500 index .SPX logged its fourth straight day of 1% moves in either direction. The last time the index saw that much volatility was in November 2020, when it rose or fell 1% or more for seven straight sessions.
At 12:06 p.m. ET, the Dow Jones Industrial Average .DJI was down 293.48 points, or 0.86%, at 34,021.19, the S&P 500 .SPX was down 29.91 points, or 0.69%, at 4,315.81 and the Nasdaq Composite .IXIC was down 48.59 points, or 0.34%, at 14,385.24.
American Airlines Group AAL.Ofell 4.4% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral".
Shares in steelmaker Nucor Corp NUE.N dropped 3.6% after Goldman Sachs lowered its rating to "neutral" from "buy".
Declining issues outnumbered advancers for a 3.52-to-1 ratio on the NYSE and for a 2.44-to-1 ratio on the Nasdaq.
The S&P index recorded no new 52-week high and nine new lows, while the Nasdaq recorded 15 new highs and 206 new lows.
(Reporting by Shreyashi Sanyal, Devik Jain and Sruthi Shankar in Bengaluru; Editing by Saumyadeb Chakrabarty and 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.
|
American Airlines Group AAL.Ofell 4.4% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". By Shreyashi Sanyal and Devik Jain Oct 6 (Reuters) - U.S. stock indexes fell on Wednesday after a strong showing of private jobs in September fueled bets that the Federal Reserve could start reining in its monetary stimulus soon, while worries lingered about the government debt ceiling. A gridlock in Congress about the debt limit showed no sign of abating, as Senate Democrats planned a third attempt to get Republicans to vote to raise the federal government's borrowing authority and head off a catastrophic default.
|
American Airlines Group AAL.Ofell 4.4% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". By Shreyashi Sanyal and Devik Jain Oct 6 (Reuters) - U.S. stock indexes fell on Wednesday after a strong showing of private jobs in September fueled bets that the Federal Reserve could start reining in its monetary stimulus soon, while worries lingered about the government debt ceiling. US/ Still, all the 11 major S&P 500 sector indexes were trading lower, with financials .SPSY and industrials .SPLRCI down 1% each.
|
American Airlines Group AAL.Ofell 4.4% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". By Shreyashi Sanyal and Devik Jain Oct 6 (Reuters) - U.S. stock indexes fell on Wednesday after a strong showing of private jobs in September fueled bets that the Federal Reserve could start reining in its monetary stimulus soon, while worries lingered about the government debt ceiling. Oil prices hit multi-year highs earlier in the day, stoking concerns that major central banks will tighten monetary policy to counter sharp price rises.
|
American Airlines Group AAL.Ofell 4.4% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". By Shreyashi Sanyal and Devik Jain Oct 6 (Reuters) - U.S. stock indexes fell on Wednesday after a strong showing of private jobs in September fueled bets that the Federal Reserve could start reining in its monetary stimulus soon, while worries lingered about the government debt ceiling. US/ Still, all the 11 major S&P 500 sector indexes were trading lower, with financials .SPSY and industrials .SPLRCI down 1% each.
|
4149.0
|
2021-10-06 00:00:00 UTC
|
US STOCKS-Futures slide on inflation worries; ADP jobs beat sparks taper fears
|
AAL
|
https://www.nasdaq.com/articles/us-stocks-futures-slide-on-inflation-worries-adp-jobs-beat-sparks-taper-fears-2021-10-06
|
nan
|
nan
|
By Shreyashi Sanyal and Devik Jain
Oct 6 (Reuters) - U.S. stock index futures fell on Wednesday after soaring oil prices fed into fears of higher inflation, while a survey showing a strong rise in private jobs last month fueled concerns of sooner-than-expected easing of monetary stimulus.
The ADP National Employment Report showed private payrolls increased by 568,000 jobs in September. Economists polled by Reuters had forecast private payrolls would increase by 428,000 jobs.
"In short, it looks like the gain in employment will qualify as 'decent', which is the threshold Fed Chair Jerome Powell has suggested to push ahead with a QE tapering announcement at the late-November meeting," said Paul Ashworth, chief U.S. economist at Capital Economics.
The numbers come ahead of the more comprehensive non-farm payrolls data on Friday, which is expected to cement the case for the Federal Reserve's slowing of asset purchases.
The benchmark U.S. 10-year yield US10YT=RR touched its highest since June earlier in the session, slamming shares of mega-cap growth companies including Apple Inc AAPL.O, Facebook FB.O, Amazon.com Inc AMZN.O and Alphabet Inc GOOGL.O, which fell about 1% each after staging a strong rebound on Tuesday. US/
Economy-sensitive parts of the market also came under pressure, with lenders such as Bank of America Corp BAC.N, JPMorgan Chase & Co JPM.N and Morgan Stanley MS.N shedding about 1% each.
Planemaker Boeing Co BA.N as well as industrial conglomerates Caterpillar Inc CAT.N and 3M Co MMM.N dropped between 0.8% and 1.3%.
Asian and European stocks fell earlier in the day as oil hit a multi-year high above $83 a barrel amid a rally in global energy prices, fuelling concerns that major central banks will tighten monetary policy to counter sharp price rises. MKTS/GLOB
"The spike in energy prices continue fueling expectations of higher inflation for longer. Therefore, central banks will be forced to cool down the overheating in inflation rather than trying to boost recovery," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.
A stalemate over Republicans and Democrats about the debt limit showed no sign of abating, with President Joe Biden saying that his Democrats might make an exception to a U.S. Senate rule to allow them to extend the government's borrowing authority without Republican help.
Up to Tuesday's close, the S&P 500 index .SPX logged its fourth straight day of 1% moves in either direction. The last time the index saw that much volatility was in November 2020, when it rose or fell 1% or more for seven straight sessions.
At 8:38 a.m. ET, Dow e-minis 1YMcv1 were down 250 points, or 0.73%, S&P 500 e-minis EScv1 were down 39 points, or 0.9%, and Nasdaq 100 e-minis NQcv1 were down 155 points, or 1.06%.
American Airlines Group AAL.O slipped 3.3% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral".
Shares in steelmaker Nucor Corp NUE.N dropped 2.6% after Goldman Sachs lowered its rating to "neutral" from "buy".
(Reporting by Sruthi Shankar, Shreyashi Sanyal and Devik Jain in Bengaluru; Editing by Saumyadeb Chakrabarty and 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.
|
American Airlines Group AAL.O slipped 3.3% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". By Shreyashi Sanyal and Devik Jain Oct 6 (Reuters) - U.S. stock index futures fell on Wednesday after soaring oil prices fed into fears of higher inflation, while a survey showing a strong rise in private jobs last month fueled concerns of sooner-than-expected easing of monetary stimulus. "In short, it looks like the gain in employment will qualify as 'decent', which is the threshold Fed Chair Jerome Powell has suggested to push ahead with a QE tapering announcement at the late-November meeting," said Paul Ashworth, chief U.S. economist at Capital Economics.
|
American Airlines Group AAL.O slipped 3.3% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". By Shreyashi Sanyal and Devik Jain Oct 6 (Reuters) - U.S. stock index futures fell on Wednesday after soaring oil prices fed into fears of higher inflation, while a survey showing a strong rise in private jobs last month fueled concerns of sooner-than-expected easing of monetary stimulus. The ADP National Employment Report showed private payrolls increased by 568,000 jobs in September.
|
American Airlines Group AAL.O slipped 3.3% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". By Shreyashi Sanyal and Devik Jain Oct 6 (Reuters) - U.S. stock index futures fell on Wednesday after soaring oil prices fed into fears of higher inflation, while a survey showing a strong rise in private jobs last month fueled concerns of sooner-than-expected easing of monetary stimulus. Asian and European stocks fell earlier in the day as oil hit a multi-year high above $83 a barrel amid a rally in global energy prices, fuelling concerns that major central banks will tighten monetary policy to counter sharp price rises.
|
American Airlines Group AAL.O slipped 3.3% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". By Shreyashi Sanyal and Devik Jain Oct 6 (Reuters) - U.S. stock index futures fell on Wednesday after soaring oil prices fed into fears of higher inflation, while a survey showing a strong rise in private jobs last month fueled concerns of sooner-than-expected easing of monetary stimulus. "In short, it looks like the gain in employment will qualify as 'decent', which is the threshold Fed Chair Jerome Powell has suggested to push ahead with a QE tapering announcement at the late-November meeting," said Paul Ashworth, chief U.S. economist at Capital Economics.
|
4150.0
|
2021-10-06 00:00:00 UTC
|
World's largest miners pledge net zero carbon emissions by 2050
|
AAL
|
https://www.nasdaq.com/articles/worlds-largest-miners-pledge-net-zero-carbon-emissions-by-2050-2021-10-06
|
nan
|
nan
|
Repeats Tuesday's story to more subscribers, no changes to text
LONDON, Oct 5 (Reuters) - The world's top miners on Tuesday committed to a goal of net zero direct and indirect carbon emissions by 2050 or sooner, the International Council on Mining and Metals (ICMM) said.
"ICMM members' collective commitment to net zero scope one (direct) and two (indirect) greenhouse gas emissions by 2050 is a pivotal moment in our history," CEO Rohitesh Dhawan said in an open letter signed by the 28 chiefs of the world's largest miners.
The announcement comes before next month's U.N. climate gathering that aims to achieve more ambitious climate action from the nearly 200 countries that signed the 2015 Paris Agreement to limit global warming.
Many miners including Anglo American AAL.L, Rio Tinto RIO.L and BHP BHPB.L, under pressure from environmental activists and shareholders, have already committed to net zero by 2050 in direct and indirect emissions.
The collective commitment, however, "represents a joint ambition from companies that make up one third of the global mining and metals industry," the ICMM said.
Its 28 members, whose operations span 650 sites over 50 countries, will report annually on their progress to decarbonise annually.
Mining has a "decarbonisation challenge" because the sector has to reduce emissions while producing metals, such as nickel and copper, that are vital to a lower-carbon economy, said Konrad von Szczepanski, Managing Director and Partner at Boston Consulting Group.
Direct and indirect emissions will be lowered by accelerating the use of renewable energy and reducing or eliminating the use of diesel trucks, Dhawan told Reuters.
Targets for scope three emissions, which includes those from customers processing iron ore to steel, should be set "if not by the end of 2023, as soon as possible."
The technology to produce carbon-free steel has not yet been proven.
Glencore GLEN.L, the world's largest supplier of seaborne thermal coal, has committed to a scope three goal mainly by running down its coal mines.
ICMM members, which include Barrick Gold ABX.TO and Alcoa, have collectively cut emissions by 6% between 2016-2018, Dhawan said.
(Reporting by Zandi Shabalala and Clara Denina; Editing by Cynthia Osterman, Kirsten Donovan)
((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.
|
Many miners including Anglo American AAL.L, Rio Tinto RIO.L and BHP BHPB.L, under pressure from environmental activists and shareholders, have already committed to net zero by 2050 in direct and indirect emissions. "ICMM members' collective commitment to net zero scope one (direct) and two (indirect) greenhouse gas emissions by 2050 is a pivotal moment in our history," CEO Rohitesh Dhawan said in an open letter signed by the 28 chiefs of the world's largest miners. Mining has a "decarbonisation challenge" because the sector has to reduce emissions while producing metals, such as nickel and copper, that are vital to a lower-carbon economy, said Konrad von Szczepanski, Managing Director and Partner at Boston Consulting Group.
|
Many miners including Anglo American AAL.L, Rio Tinto RIO.L and BHP BHPB.L, under pressure from environmental activists and shareholders, have already committed to net zero by 2050 in direct and indirect emissions. Repeats Tuesday's story to more subscribers, no changes to text LONDON, Oct 5 (Reuters) - The world's top miners on Tuesday committed to a goal of net zero direct and indirect carbon emissions by 2050 or sooner, the International Council on Mining and Metals (ICMM) said. "ICMM members' collective commitment to net zero scope one (direct) and two (indirect) greenhouse gas emissions by 2050 is a pivotal moment in our history," CEO Rohitesh Dhawan said in an open letter signed by the 28 chiefs of the world's largest miners.
|
Many miners including Anglo American AAL.L, Rio Tinto RIO.L and BHP BHPB.L, under pressure from environmental activists and shareholders, have already committed to net zero by 2050 in direct and indirect emissions. Repeats Tuesday's story to more subscribers, no changes to text LONDON, Oct 5 (Reuters) - The world's top miners on Tuesday committed to a goal of net zero direct and indirect carbon emissions by 2050 or sooner, the International Council on Mining and Metals (ICMM) said. "ICMM members' collective commitment to net zero scope one (direct) and two (indirect) greenhouse gas emissions by 2050 is a pivotal moment in our history," CEO Rohitesh Dhawan said in an open letter signed by the 28 chiefs of the world's largest miners.
|
Many miners including Anglo American AAL.L, Rio Tinto RIO.L and BHP BHPB.L, under pressure from environmental activists and shareholders, have already committed to net zero by 2050 in direct and indirect emissions. "ICMM members' collective commitment to net zero scope one (direct) and two (indirect) greenhouse gas emissions by 2050 is a pivotal moment in our history," CEO Rohitesh Dhawan said in an open letter signed by the 28 chiefs of the world's largest miners. The announcement comes before next month's U.N. climate gathering that aims to achieve more ambitious climate action from the nearly 200 countries that signed the 2015 Paris Agreement to limit global warming.
|
4151.0
|
2021-10-06 00:00:00 UTC
|
US STOCKS-Futures tumble as soaring energy prices fuel inflation worries
|
AAL
|
https://www.nasdaq.com/articles/us-stocks-futures-tumble-as-soaring-energy-prices-fuel-inflation-worries-2021-10-06
|
nan
|
nan
|
By Shreyashi Sanyal and Devik Jain
Oct 6 (Reuters) - U.S. stock index futures fell more than 1% on Wednesday after soaring oil prices fed into fears of higher inflation and fueled concerns of sooner-than-expected easing of the Federal Reserve's monetary stimulus.
The benchmark U.S. 10-year yield US10YT=RR touched their highest since June, slamming shares of mega-cap growth companies including Apple Inc AAPL.O, Facebook FB.O, Amazon.com Inc AMZN.O and Alphabet Inc GOOGL.O, which fell about 1.5% each in premarket trading after staging a strong rebound on Tuesday. US/
Economy-sensitive parts of the market also came under pressure, with lenders such as Bank of America Corp BAC.N, JPMorgan Chase & CoJPM.Nand Morgan StanleyMS.N shedding more than 1% each.
Planemaker Boeing CoBA.Nas well as industrial conglomerates CaterpillarInc CAT.Nand 3M CoMMM.Ndropped between 0.8% and 2.0%.
Asian and European stocks fell earlier in the day as oil hit a multi-year high above $83 a barrel amid a rally in global energy prices, fuelling concerns that major central banks will tighten monetary policy to counter sharp price rises. MKTS/GLOB
"The spike in energy prices continue fueling expectations of higher inflation for longer. Therefore, central banks will be forced to cool down the overheating in inflation rather than trying to boost recovery," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.
All eyes will be on the U.S. private payrolls data, due at 8:15 a.m. ET. The numbers come ahead of the more comprehensive non-farm payrolls data on Friday, which is expected to cement the case for the Federal Reserve's slowing of asset purchases.
"Any weakness in the jobs figure could send the U.S. equities back below their 100-dma levels, as soft economic data could no longer revive the central bank doves," Swissquote's Ozkardeskaya said.
A stalemate over Republicans and Democrats about the debt limit showed no sign of abating, with President Joe Biden saying that his Democrats might make an exception to a U.S. Senate rule to allow them to extend the government's borrowing authority without Republican help.
Up to Tuesday's close, the S&P 500 index .SPX logged its fourth straight day of 1% moves in either direction. The last time the index saw that much volatility was in November 2020, when it rose or fell 1% or more for seven straight sessions.
At 6:44 a.m. ET, Dow e-minis 1YMcv1were down 358 points, or 1.05%, S&P 500 e-minis EScv1were down 53 points, or 1.22%, and Nasdaq 100 e-minis NQcv1were down 210.25 points, or 1.43%.
American Airlines Group AAL.Oslipped 3.9% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral".
Shares in steelmaker Nucor Corp NUE.Ndropped 3.3% after Goldman Sachs lowered its rating to "neutral" from "buy".
(Reporting by Sruthi Shankar, Shreyashi Sanyal and Devik Jain in Bengaluru; Editing by Saumyadeb Chakrabarty and 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.
|
American Airlines Group AAL.Oslipped 3.9% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". By Shreyashi Sanyal and Devik Jain Oct 6 (Reuters) - U.S. stock index futures fell more than 1% on Wednesday after soaring oil prices fed into fears of higher inflation and fueled concerns of sooner-than-expected easing of the Federal Reserve's monetary stimulus. The benchmark U.S. 10-year yield US10YT=RR touched their highest since June, slamming shares of mega-cap growth companies including Apple Inc AAPL.O, Facebook FB.O, Amazon.com Inc AMZN.O and Alphabet Inc GOOGL.O, which fell about 1.5% each in premarket trading after staging a strong rebound on Tuesday.
|
American Airlines Group AAL.Oslipped 3.9% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". By Shreyashi Sanyal and Devik Jain Oct 6 (Reuters) - U.S. stock index futures fell more than 1% on Wednesday after soaring oil prices fed into fears of higher inflation and fueled concerns of sooner-than-expected easing of the Federal Reserve's monetary stimulus. Asian and European stocks fell earlier in the day as oil hit a multi-year high above $83 a barrel amid a rally in global energy prices, fuelling concerns that major central banks will tighten monetary policy to counter sharp price rises.
|
American Airlines Group AAL.Oslipped 3.9% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". By Shreyashi Sanyal and Devik Jain Oct 6 (Reuters) - U.S. stock index futures fell more than 1% on Wednesday after soaring oil prices fed into fears of higher inflation and fueled concerns of sooner-than-expected easing of the Federal Reserve's monetary stimulus. Asian and European stocks fell earlier in the day as oil hit a multi-year high above $83 a barrel amid a rally in global energy prices, fuelling concerns that major central banks will tighten monetary policy to counter sharp price rises.
|
American Airlines Group AAL.Oslipped 3.9% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". By Shreyashi Sanyal and Devik Jain Oct 6 (Reuters) - U.S. stock index futures fell more than 1% on Wednesday after soaring oil prices fed into fears of higher inflation and fueled concerns of sooner-than-expected easing of the Federal Reserve's monetary stimulus. The benchmark U.S. 10-year yield US10YT=RR touched their highest since June, slamming shares of mega-cap growth companies including Apple Inc AAPL.O, Facebook FB.O, Amazon.com Inc AMZN.O and Alphabet Inc GOOGL.O, which fell about 1.5% each in premarket trading after staging a strong rebound on Tuesday.
|
4152.0
|
2021-10-06 00:00:00 UTC
|
Invest In BP Stock To Realize Capital Gains
|
AAL
|
https://www.nasdaq.com/articles/invest-in-bp-stock-to-realize-capital-gains-2021-10-06
|
nan
|
nan
|
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)
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. 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. The airline industry has also been facing margin pressure due to growing competition and slow demand growth in recent years.
|
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 2016, Alaska Air Group (NYSE: ALK) implemented a deleveraging policy after acquiring Virgin America and restricted shareholder returns such as dividend payouts and buybacks. 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.
|
However, the shares of its competitor American Airlines (NASDAQ: AAL) remain 30% below pre-Covid highs and have followed a downward trajectory since 2018. 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. 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.
|
However, the shares of its competitor American Airlines (NASDAQ: AAL) remain 30% below pre-Covid highs and have followed a downward trajectory since 2018. 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. Considering the company’s deleveraging and capital return policy, Trefis believes that the stock is a good pick to realize long-term capital gains.
|
4153.0
|
2021-10-06 00:00:00 UTC
|
Notable Wednesday Option Activity: AAL, BHVN, FIVN
|
AAL
|
https://www.nasdaq.com/articles/notable-wednesday-option-activity%3A-aal-bhvn-fivn-2021-10-06
|
nan
|
nan
|
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 204,384 contracts has been traded thus far today, a contract volume which is representative of approximately 20.4 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 59% of AAL's average daily trading volume over the past month, of 34.6 million shares. Especially high volume was seen for the $3 strike put option expiring January 20, 2023, with 16,667 contracts trading so far today, representing approximately 1.7 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $3 strike highlighted in orange:
Biohaven Pharmaceutical Holding Co Ltd (Symbol: BHVN) saw options trading volume of 2,460 contracts, representing approximately 246,000 underlying shares or approximately 58% of BHVN's average daily trading volume over the past month, of 424,355 shares. Particularly high volume was seen for the $100 strike call option expiring January 21, 2022, with 378 contracts trading so far today, representing approximately 37,800 underlying shares of BHVN. Below is a chart showing BHVN's trailing twelve month trading history, with the $100 strike highlighted in orange:
And Five9, Inc (Symbol: FIVN) saw options trading volume of 15,734 contracts, representing approximately 1.6 million underlying shares or approximately 57% of FIVN's average daily trading volume over the past month, of 2.8 million shares. Particularly high volume was seen for the $150 strike call option expiring November 19, 2021, with 2,641 contracts trading so far today, representing approximately 264,100 underlying shares of FIVN. Below is a chart showing FIVN's trailing twelve month trading history, with the $150 strike highlighted in orange:
For the various different available expirations for AAL options, BHVN options, or FIVN 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.
|
Especially high volume was seen for the $3 strike put option expiring January 20, 2023, with 16,667 contracts trading so far today, representing approximately 1.7 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 204,384 contracts has been traded thus far today, a contract volume which is representative of approximately 20.4 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 59% of AAL's average daily trading volume over the past month, of 34.6 million shares.
|
Especially high volume was seen for the $3 strike put option expiring January 20, 2023, with 16,667 contracts trading so far today, representing approximately 1.7 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $3 strike highlighted in orange: Biohaven Pharmaceutical Holding Co Ltd (Symbol: BHVN) saw options trading volume of 2,460 contracts, representing approximately 246,000 underlying shares or approximately 58% of BHVN's average daily trading volume over the past month, of 424,355 shares. 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 204,384 contracts has been traded thus far today, a contract volume which is representative of approximately 20.4 million underlying shares (given that every 1 contract represents 100 underlying shares).
|
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 204,384 contracts has been traded thus far today, a contract volume which is representative of approximately 20.4 million underlying shares (given that every 1 contract represents 100 underlying shares). Below is a chart showing AAL's trailing twelve month trading history, with the $3 strike highlighted in orange: Biohaven Pharmaceutical Holding Co Ltd (Symbol: BHVN) saw options trading volume of 2,460 contracts, representing approximately 246,000 underlying shares or approximately 58% of BHVN's average daily trading volume over the past month, of 424,355 shares. That number works out to 59% of AAL's average daily trading volume over the past month, of 34.6 million shares.
|
Especially high volume was seen for the $3 strike put option expiring January 20, 2023, with 16,667 contracts trading so far today, representing approximately 1.7 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 204,384 contracts has been traded thus far today, a contract volume which is representative of approximately 20.4 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 59% of AAL's average daily trading volume over the past month, of 34.6 million shares.
|
4154.0
|
2021-10-06 00:00:00 UTC
|
US STOCKS-Wall Street ends higher on optimism about U.S. debt-ceiling deal
|
AAL
|
https://www.nasdaq.com/articles/us-stocks-wall-street-ends-higher-on-optimism-about-u.s.-debt-ceiling-deal-2021-10-06-0
|
nan
|
nan
|
By Noel Randewich and Shreyashi Sanyal
Oct 6 (Reuters) - Wall Street ended higher on Wednesday as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default.
Top U.S. Senate Republican Mitch McConnell said his party would support an extension of the federal debt ceiling into December. This would head off a historic default that would exact a heavy economic toll.
"McConnell made some dovish comments about temporarily extending the debt ceiling," said Jay Hatfield, founder and portfolio manager at Infrastructure Capital Advisors. "That's going to be interpreted in the short-run as positive."
McConnell's offer could provide an off-ramp to a months-long standoff between President Joe Biden's Democrats and McConnell's Republicans, who had been expected on Wednesday to block a third attempt by Senate Democrats to raise the $28.4 trillion debt ceiling.
Stocks were lower for much of the session after a strong showing of private jobs in September fueled bets the Federal Reserve could start reining in monetary stimulus soon.
The Dow Jones Industrial Average .DJI rose 0.3% to end at 34,416.99 points, while the S&P 500 .SPX gained 0.41% to 4,363.55.
The Nasdaq Composite .IXIC climbed 0.47% to 14,501.91.
Mega-cap growth stocks Amazon and Microsoft both rose more than 1% after the benchmark U.S. 10-year Treasury yield US10YT=RR retreated from three-month highs by early afternoon. US/
The ADP National Employment Report showed private payrolls increased by 568,000 jobs last month. Economists polled by Reuters had forecast a rise of 428,000 jobs.
"Positive labor market data comes with the implication that the Fed can tighten policy at a quicker pace. But the fact that hiring is up shouldn't be discounted — it's definitely a good thing in terms of recovery," said Mike Loewengart, managing director, investment strategy at E*TRADE Financial.
The more comprehensive non-farm payrolls data is due on Friday. It is expected to cement the case for the Fed's slowing of asset purchases.
Oil prices hit multi-year highs early, but crude prices retreated from those highs while the S&P 500 energy sector index .SPNYslid over 1%, the weakest performer among 11 sector indexes.
American Airlines Group AAL.O fell 4.33% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral".
Shares in steelmaker Nucor Corp NUE.N dropped 2.75% after Goldman Sachs lowered its rating to "neutral" from "buy".
Declining issues outnumbered advancing ones on the NYSE by a 1.31-to-1 ratio; on Nasdaq, a 1.58-to-1 ratio favored decliners.
The S&P 500 posted 3 new 52-week highs and 9 new lows; the Nasdaq Composite recorded 31 new highs and 241 new lows.
Volume on U.S. exchanges was 10.6 billion shares, compared with the 11.0 billion average over the last 20 trading days.
(Additional reporting by Shreyashi Sanyal, Devik Jain and Sruthi Shankar in Bengaluru; Editing by Saumyadeb Chakrabarty, Maju Samuel and David Gregorio)
((noel.randewich@tr.com; Twitter: @randewich))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
American Airlines Group AAL.O fell 4.33% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". By Noel Randewich and Shreyashi Sanyal Oct 6 (Reuters) - Wall Street ended higher on Wednesday as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default. "McConnell made some dovish comments about temporarily extending the debt ceiling," said Jay Hatfield, founder and portfolio manager at Infrastructure Capital Advisors.
|
American Airlines Group AAL.O fell 4.33% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". By Noel Randewich and Shreyashi Sanyal Oct 6 (Reuters) - Wall Street ended higher on Wednesday as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default. US/ The ADP National Employment Report showed private payrolls increased by 568,000 jobs last month.
|
American Airlines Group AAL.O fell 4.33% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". By Noel Randewich and Shreyashi Sanyal Oct 6 (Reuters) - Wall Street ended higher on Wednesday as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default. McConnell's offer could provide an off-ramp to a months-long standoff between President Joe Biden's Democrats and McConnell's Republicans, who had been expected on Wednesday to block a third attempt by Senate Democrats to raise the $28.4 trillion debt ceiling.
|
American Airlines Group AAL.O fell 4.33% after Goldman Sachs cut its rating on the carrier to "sell" from "neutral". McConnell's offer could provide an off-ramp to a months-long standoff between President Joe Biden's Democrats and McConnell's Republicans, who had been expected on Wednesday to block a third attempt by Senate Democrats to raise the $28.4 trillion debt ceiling. US/ The ADP National Employment Report showed private payrolls increased by 568,000 jobs last month.
|
4155.0
|
2021-10-05 00:00:00 UTC
|
EXCLUSIVE-Diamond giant De Beers hunts for treasure in Greenland's waters
|
AAL
|
https://www.nasdaq.com/articles/exclusive-diamond-giant-de-beers-hunts-for-treasure-in-greenlands-waters-2021-10-05
|
nan
|
nan
|
By Jacob Gronholt-Pedersen and Clara Denina
COPENAGHEN/LONDON, Oct 5 (Reuters) - Mining giant De Beers has commissioned a survey of the ocean floor off Greenland's coast in a first step to determine whether it could hold deposits of highly-prized marine diamonds.
The eight-day survey of around 800 kilometers of seabed off Greenland's west coast, near the town of Maniitsoq, ended on Thursday last week, a spokesperson for the Geological Survey of Denmark and Greenland (GEUS), told Reuters.
The GEUS confirmed it had carried out the survey on behalf of De Beers and said it would take months to analyse.
"De Beers Marine (DBM) would like to determine whether the offshore environment is conducive to the formation of secondary diamond deposits," an Environmental Mitigation Assessment prepared by De Beers for Greenland's mineral resource authority and seen by Reuters showed.
De Beers, which together with Russia's Alrosa is one of the world's leading diamond miners, said the survey, carried out at a water depth of between 50 and 200 meters, was preliminary.
"The focus of the small-scale, early stage survey is to understand the topography of the region," De Beers, a unit of diversified mining company Anglo American AAL.L, said in an emailed statement.
Deposits of diamonds, created under high pressure in volcanoes, are known to be present onshore in west Greenland.
Offshore diamonds are generally of higher quality and command a higher price because any gems with flaws tend not to survive the journey out to sea.
Since the 1990s, marine diamond production has been concentrated in Namibia, where it accounts for around 75% of production volumes.
That percentage could rise as mines on land near the end of their life.
In Namibia, De Beers has a 50/50 joint venture with the government that operates special mining vessels.
The vessels suck up hundreds of square meters of sand and silt each hour from below the seabed, which is sifted on board and then semi-processed diamonds are flown to land by helicopter.
Some scientists and environmentalists have called for a ban on the practice, saying too little is known about its impact.
De Beers says it is scrupulous in protecting the environment.
The survey in Greenland avoided important fishing grounds, the report said. The waters of southwest Greenland represent the most abundant marine life in the country.
Greenland's mineral resources ministry did not respond to a request for comment.
A semi-autonomous territory of the Kingdom of Denmark, Greenland relies on fishing and on annual grants from Denmark.
The vast Arctic island is rich in mineral resources but has only two small producing mines. Its mining industry is dominated by small exploration companies, although Anglo American secured a number of onshore exploration licences in 2018 and 2019.
Demand is strong for minerals, such as copper and cobalt, needed for the transition to a low carbon economy. Diamond demand, which is closely linked to GDP, is more uncertain, although it has been recovering from the impact of the pandemic.
Namibia’s marine diamond miner’s production hit by COVID-19, drops 13% in 2020
(Reporting by Jacob Gronholt-Pedersen and Clara Denina; editing by Barbara Lewis)
((clara.denina@thomsonreuters.com + 44 207 542 9420. Reuters Messaging: clara.denina.thomsonreuters.com@reuters.net. Twitter: https://twitter.com/claradenina))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
"The focus of the small-scale, early stage survey is to understand the topography of the region," De Beers, a unit of diversified mining company Anglo American AAL.L, said in an emailed statement. By Jacob Gronholt-Pedersen and Clara Denina COPENAGHEN/LONDON, Oct 5 (Reuters) - Mining giant De Beers has commissioned a survey of the ocean floor off Greenland's coast in a first step to determine whether it could hold deposits of highly-prized marine diamonds. The vessels suck up hundreds of square meters of sand and silt each hour from below the seabed, which is sifted on board and then semi-processed diamonds are flown to land by helicopter.
|
"The focus of the small-scale, early stage survey is to understand the topography of the region," De Beers, a unit of diversified mining company Anglo American AAL.L, said in an emailed statement. By Jacob Gronholt-Pedersen and Clara Denina COPENAGHEN/LONDON, Oct 5 (Reuters) - Mining giant De Beers has commissioned a survey of the ocean floor off Greenland's coast in a first step to determine whether it could hold deposits of highly-prized marine diamonds. "De Beers Marine (DBM) would like to determine whether the offshore environment is conducive to the formation of secondary diamond deposits," an Environmental Mitigation Assessment prepared by De Beers for Greenland's mineral resource authority and seen by Reuters showed.
|
"The focus of the small-scale, early stage survey is to understand the topography of the region," De Beers, a unit of diversified mining company Anglo American AAL.L, said in an emailed statement. By Jacob Gronholt-Pedersen and Clara Denina COPENAGHEN/LONDON, Oct 5 (Reuters) - Mining giant De Beers has commissioned a survey of the ocean floor off Greenland's coast in a first step to determine whether it could hold deposits of highly-prized marine diamonds. The eight-day survey of around 800 kilometers of seabed off Greenland's west coast, near the town of Maniitsoq, ended on Thursday last week, a spokesperson for the Geological Survey of Denmark and Greenland (GEUS), told Reuters.
|
"The focus of the small-scale, early stage survey is to understand the topography of the region," De Beers, a unit of diversified mining company Anglo American AAL.L, said in an emailed statement. The eight-day survey of around 800 kilometers of seabed off Greenland's west coast, near the town of Maniitsoq, ended on Thursday last week, a spokesperson for the Geological Survey of Denmark and Greenland (GEUS), told Reuters. "De Beers Marine (DBM) would like to determine whether the offshore environment is conducive to the formation of secondary diamond deposits," an Environmental Mitigation Assessment prepared by De Beers for Greenland's mineral resource authority and seen by Reuters showed.
|
4156.0
|
2021-10-05 00:00:00 UTC
|
World's largest miners pledge net zero carbon emissions by 2050
|
AAL
|
https://www.nasdaq.com/articles/worlds-largest-miners-pledge-net-zero-carbon-emissions-by-2050-2021-10-05
|
nan
|
nan
|
LONDON, Oct 5 (Reuters) - The world's top miners on Tuesday committed to a goal of net zero direct and indirect carbon emissions by 2050 or sooner, the International Council on Mining and Metals (ICMM) said.
"ICMM members' collective commitment to net zero scope one (direct) and two (indirect) greenhouse gas emissions by 2050 is a pivotal moment in our history," CEO Rohitesh Dhawan said in an open letter signed by the 28 chiefs of the world's largest miners.
The announcement comes before next month's U.N. climate gathering that aims to achieve more ambitious climate action from the nearly 200 countries that signed the 2015 Paris Agreement to limit global warming.
Many miners including Anglo American AAL.L, Rio Tinto RIO.L and BHP BHPB.L, under pressure from environmental activists and shareholders, have already committed to net zero by 2050 in direct and indirect emissions.
The collective commitment, however, "represents a joint ambition from companies that make up one third of the global mining and metals industry," the ICMM said.
Its 28 members span 650 sites over 50 countries.
Direct and indirect emissions will be lowered by accelerating the use of renewable energy and reducing or eliminating the use of diesel trucks, Dhawan told Reuters.
Companies will report on their progress annually, the ICMM said.
Targets for scope three emissions, which includes those from customers processing iron ore to steel, should be set "if not by the end of 2023, as soon as possible."
The technology to produce carbon-free steel has not yet been proven.
Glencore GLEN.L, the world's largest supplier of seaborne thermal coal, has committed to a scope three goal mainly by starving its coal mines of fresh capital.
ICMM members, which include Barrick Gold ABX.TO and Alcoa, have collectively cut emissions by 6% between 2016-2018, Dhawan said.
(Reporting by Zandi Shabalala and Clara Denina; Editing by Cynthia Osterman)
((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.
|
Many miners including Anglo American AAL.L, Rio Tinto RIO.L and BHP BHPB.L, under pressure from environmental activists and shareholders, have already committed to net zero by 2050 in direct and indirect emissions. LONDON, Oct 5 (Reuters) - The world's top miners on Tuesday committed to a goal of net zero direct and indirect carbon emissions by 2050 or sooner, the International Council on Mining and Metals (ICMM) said. "ICMM members' collective commitment to net zero scope one (direct) and two (indirect) greenhouse gas emissions by 2050 is a pivotal moment in our history," CEO Rohitesh Dhawan said in an open letter signed by the 28 chiefs of the world's largest miners.
|
Many miners including Anglo American AAL.L, Rio Tinto RIO.L and BHP BHPB.L, under pressure from environmental activists and shareholders, have already committed to net zero by 2050 in direct and indirect emissions. LONDON, Oct 5 (Reuters) - The world's top miners on Tuesday committed to a goal of net zero direct and indirect carbon emissions by 2050 or sooner, the International Council on Mining and Metals (ICMM) said. "ICMM members' collective commitment to net zero scope one (direct) and two (indirect) greenhouse gas emissions by 2050 is a pivotal moment in our history," CEO Rohitesh Dhawan said in an open letter signed by the 28 chiefs of the world's largest miners.
|
Many miners including Anglo American AAL.L, Rio Tinto RIO.L and BHP BHPB.L, under pressure from environmental activists and shareholders, have already committed to net zero by 2050 in direct and indirect emissions. LONDON, Oct 5 (Reuters) - The world's top miners on Tuesday committed to a goal of net zero direct and indirect carbon emissions by 2050 or sooner, the International Council on Mining and Metals (ICMM) said. "ICMM members' collective commitment to net zero scope one (direct) and two (indirect) greenhouse gas emissions by 2050 is a pivotal moment in our history," CEO Rohitesh Dhawan said in an open letter signed by the 28 chiefs of the world's largest miners.
|
Many miners including Anglo American AAL.L, Rio Tinto RIO.L and BHP BHPB.L, under pressure from environmental activists and shareholders, have already committed to net zero by 2050 in direct and indirect emissions. LONDON, Oct 5 (Reuters) - The world's top miners on Tuesday committed to a goal of net zero direct and indirect carbon emissions by 2050 or sooner, the International Council on Mining and Metals (ICMM) said. "ICMM members' collective commitment to net zero scope one (direct) and two (indirect) greenhouse gas emissions by 2050 is a pivotal moment in our history," CEO Rohitesh Dhawan said in an open letter signed by the 28 chiefs of the world's largest miners.
|
4157.0
|
2021-10-05 00:00:00 UTC
|
World's largest miners pledge net zero carbon emissions by 2050
|
AAL
|
https://www.nasdaq.com/articles/worlds-largest-miners-pledge-net-zero-carbon-emissions-by-2050-2021-10-05-0
|
nan
|
nan
|
Adds analyst comment
LONDON, Oct 5 (Reuters) - The world's top miners on Tuesday committed to a goal of net zero direct and indirect carbon emissions by 2050 or sooner, the International Council on Mining and Metals (ICMM) said.
"ICMM members' collective commitment to net zero scope one (direct) and two (indirect) greenhouse gas emissions by 2050 is a pivotal moment in our history," CEO Rohitesh Dhawan said in an open letter signed by the 28 chiefs of the world's largest miners.
The announcement comes before next month's U.N. climate gathering that aims to achieve more ambitious climate action from the nearly 200 countries that signed the 2015 Paris Agreement to limit global warming.
Many miners including Anglo American AAL.L, Rio Tinto RIO.L and BHP BHPB.L, under pressure from environmental activists and shareholders, have already committed to net zero by 2050 in direct and indirect emissions.
The collective commitment, however, "represents a joint ambition from companies that make up one third of the global mining and metals industry," the ICMM said.
Its 28 members, whose operations span 650 sites over 50 countries, will report annually on their progress to decarbonise annually.
Mining has a "decarbonisation challenge" because the sector has to reduce emissions while producing metals, such as nickel and copper, that are vital to a lower-carbon economy, said Konrad von Szczepanski, Managing Director and Partner at Boston Consulting Group.
Direct and indirect emissions will be lowered by accelerating the use of renewable energy and reducing or eliminating the use of diesel trucks, Dhawan told Reuters.
Targets for scope three emissions, which includes those from customers processing iron ore to steel, should be set "if not by the end of 2023, as soon as possible."
The technology to produce carbon-free steel has not yet been proven.
Glencore GLEN.L, the world's largest supplier of seaborne thermal coal, has committed to a scope three goal mainly by running down its coal mines.
ICMM members, which include Barrick Gold ABX.TO and Alcoa, have collectively cut emissions by 6% between 2016-2018, Dhawan said.
(Reporting by Zandi Shabalala and Clara Denina; Editing by Cynthia Osterman, Kirsten Donovan)
((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.
|
Many miners including Anglo American AAL.L, Rio Tinto RIO.L and BHP BHPB.L, under pressure from environmental activists and shareholders, have already committed to net zero by 2050 in direct and indirect emissions. Adds analyst comment LONDON, Oct 5 (Reuters) - The world's top miners on Tuesday committed to a goal of net zero direct and indirect carbon emissions by 2050 or sooner, the International Council on Mining and Metals (ICMM) said. "ICMM members' collective commitment to net zero scope one (direct) and two (indirect) greenhouse gas emissions by 2050 is a pivotal moment in our history," CEO Rohitesh Dhawan said in an open letter signed by the 28 chiefs of the world's largest miners.
|
Many miners including Anglo American AAL.L, Rio Tinto RIO.L and BHP BHPB.L, under pressure from environmental activists and shareholders, have already committed to net zero by 2050 in direct and indirect emissions. Adds analyst comment LONDON, Oct 5 (Reuters) - The world's top miners on Tuesday committed to a goal of net zero direct and indirect carbon emissions by 2050 or sooner, the International Council on Mining and Metals (ICMM) said. "ICMM members' collective commitment to net zero scope one (direct) and two (indirect) greenhouse gas emissions by 2050 is a pivotal moment in our history," CEO Rohitesh Dhawan said in an open letter signed by the 28 chiefs of the world's largest miners.
|
Many miners including Anglo American AAL.L, Rio Tinto RIO.L and BHP BHPB.L, under pressure from environmental activists and shareholders, have already committed to net zero by 2050 in direct and indirect emissions. Adds analyst comment LONDON, Oct 5 (Reuters) - The world's top miners on Tuesday committed to a goal of net zero direct and indirect carbon emissions by 2050 or sooner, the International Council on Mining and Metals (ICMM) said. "ICMM members' collective commitment to net zero scope one (direct) and two (indirect) greenhouse gas emissions by 2050 is a pivotal moment in our history," CEO Rohitesh Dhawan said in an open letter signed by the 28 chiefs of the world's largest miners.
|
Many miners including Anglo American AAL.L, Rio Tinto RIO.L and BHP BHPB.L, under pressure from environmental activists and shareholders, have already committed to net zero by 2050 in direct and indirect emissions. Adds analyst comment LONDON, Oct 5 (Reuters) - The world's top miners on Tuesday committed to a goal of net zero direct and indirect carbon emissions by 2050 or sooner, the International Council on Mining and Metals (ICMM) said. "ICMM members' collective commitment to net zero scope one (direct) and two (indirect) greenhouse gas emissions by 2050 is a pivotal moment in our history," CEO Rohitesh Dhawan said in an open letter signed by the 28 chiefs of the world's largest miners.
|
4158.0
|
2021-10-04 00:00:00 UTC
|
Southwest Airlines to comply with Biden vaccine mandate by Dec. 8
|
AAL
|
https://www.nasdaq.com/articles/southwest-airlines-to-comply-with-biden-vaccine-mandate-by-dec.-8-2021-10-04
|
nan
|
nan
|
By David Shepardson
WASHINGTON, Oct 4 (Reuters) - Southwest Airlines LUV.N said on Monday it will comply with a Dec. 8 deadline set by President Joe Biden for its employees to get vaccinated against COVID-19.
The deadline, set last month under an executive order signed by Biden, covers all federal contractors. Unless employees receive and exemption, they must comply "to continue employment with the airline," Southwest said.
"Southwest Airlines must join our industry peers in complying with the federal government’s COVID-19 vaccination directive,” said Southwest CEO Gary Kelly.
In an internal memo seen by Reuters, Southwest said employees must submit vaccination status and submit documentation by Nov. 24. "If you’re not yet fully vaccinated, plan accordingly to meet the deadline," the memo said.
American Airlines AAL.O said on Friday it would also comply but did not specify when it would require vaccinations of employees. Delta Air Lines DAL.N CEO Ed Bastian said on Sunday that the company has not decided whether to mandate COVID-19 vaccines.
The White House pressed major U.S. airlines to mandate COVID-19 vaccines for employees by the deadline for federal contractors to do so. It urged them to follow the lead of United Airlines UAL.N in requiring shots.
White House COVID-19 response coordinator Jeffrey Zients spoke to the chief executives of American Airlines, Delta Air Lines and Southwest Airlines on Thursday to ensure they were working expeditiously to develop and enforce vaccine requirements ahead of that deadline, the sources said, speaking on condition of anonymity.
Large U.S. airlines have a number of federal contracts. Some airline officials had asked the White House to push back the requirements until after the busy holiday travel season.
(Reporting by David Shepardson; Editing by Leslie Adler and Grant McCool)
((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.
|
American Airlines AAL.O said on Friday it would also comply but did not specify when it would require vaccinations of employees. By David Shepardson WASHINGTON, Oct 4 (Reuters) - Southwest Airlines LUV.N said on Monday it will comply with a Dec. 8 deadline set by President Joe Biden for its employees to get vaccinated against COVID-19. White House COVID-19 response coordinator Jeffrey Zients spoke to the chief executives of American Airlines, Delta Air Lines and Southwest Airlines on Thursday to ensure they were working expeditiously to develop and enforce vaccine requirements ahead of that deadline, the sources said, speaking on condition of anonymity.
|
American Airlines AAL.O said on Friday it would also comply but did not specify when it would require vaccinations of employees. Delta Air Lines DAL.N CEO Ed Bastian said on Sunday that the company has not decided whether to mandate COVID-19 vaccines. The White House pressed major U.S. airlines to mandate COVID-19 vaccines for employees by the deadline for federal contractors to do so.
|
American Airlines AAL.O said on Friday it would also comply but did not specify when it would require vaccinations of employees. By David Shepardson WASHINGTON, Oct 4 (Reuters) - Southwest Airlines LUV.N said on Monday it will comply with a Dec. 8 deadline set by President Joe Biden for its employees to get vaccinated against COVID-19. The White House pressed major U.S. airlines to mandate COVID-19 vaccines for employees by the deadline for federal contractors to do so.
|
American Airlines AAL.O said on Friday it would also comply but did not specify when it would require vaccinations of employees. By David Shepardson WASHINGTON, Oct 4 (Reuters) - Southwest Airlines LUV.N said on Monday it will comply with a Dec. 8 deadline set by President Joe Biden for its employees to get vaccinated against COVID-19. Unless employees receive and exemption, they must comply "to continue employment with the airline," Southwest said.
|
4159.0
|
2021-10-04 00:00:00 UTC
|
Chile's top miners see copper production fall in August
|
AAL
|
https://www.nasdaq.com/articles/chiles-top-miners-see-copper-production-fall-in-august-2021-10-04-0
|
nan
|
nan
|
Updates with additional context, total output figures.
SANTIAGO, Oct 4 (Reuters) - Chile's top miners saw their production of copper fall in August, Chilean state copper commission Cochilco said on Monday, impacted in part by a strike at a mine owned by state miner Codelco.
Codelco, the world's largest copper miner, saw output in August fall off by 6.7% year-on-year to 144,500 tonnes, Cochilco said, dogged by a prolonged strike at its Andina mine near Santiago late in the month.
BHP's Escondida BHP.AX, the world's largest copper mine, saw production drop 14% year-on-year to 81,500 tonnes in the same month.
The sprawling Escondida has curtailed some operations since the outbreak of the coronavirus pandemic and imposition of restrictions, including reducing cathode production, resulting in 13 straight months of declining production.
At the Collahuasi copper mine - a joint venture by Glencore GLEN.N and Anglo American AAL.L - production fell 19.7% year-on-year to 48,200 tonnes in August, the agency said.
Copper output in Chile, the world's top copper producer, dropped 4.6% year-on-year in August to 461,900 tonnes, the agency said.
(Reporting by Fabian Cambero, writing by Dave Sherwood Editing by Marguerita Choy)
((dave.sherwood@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.
|
At the Collahuasi copper mine - a joint venture by Glencore GLEN.N and Anglo American AAL.L - production fell 19.7% year-on-year to 48,200 tonnes in August, the agency said. Codelco, the world's largest copper miner, saw output in August fall off by 6.7% year-on-year to 144,500 tonnes, Cochilco said, dogged by a prolonged strike at its Andina mine near Santiago late in the month. BHP's Escondida BHP.AX, the world's largest copper mine, saw production drop 14% year-on-year to 81,500 tonnes in the same month.
|
At the Collahuasi copper mine - a joint venture by Glencore GLEN.N and Anglo American AAL.L - production fell 19.7% year-on-year to 48,200 tonnes in August, the agency said. SANTIAGO, Oct 4 (Reuters) - Chile's top miners saw their production of copper fall in August, Chilean state copper commission Cochilco said on Monday, impacted in part by a strike at a mine owned by state miner Codelco. Codelco, the world's largest copper miner, saw output in August fall off by 6.7% year-on-year to 144,500 tonnes, Cochilco said, dogged by a prolonged strike at its Andina mine near Santiago late in the month.
|
At the Collahuasi copper mine - a joint venture by Glencore GLEN.N and Anglo American AAL.L - production fell 19.7% year-on-year to 48,200 tonnes in August, the agency said. SANTIAGO, Oct 4 (Reuters) - Chile's top miners saw their production of copper fall in August, Chilean state copper commission Cochilco said on Monday, impacted in part by a strike at a mine owned by state miner Codelco. Codelco, the world's largest copper miner, saw output in August fall off by 6.7% year-on-year to 144,500 tonnes, Cochilco said, dogged by a prolonged strike at its Andina mine near Santiago late in the month.
|
At the Collahuasi copper mine - a joint venture by Glencore GLEN.N and Anglo American AAL.L - production fell 19.7% year-on-year to 48,200 tonnes in August, the agency said. Codelco, the world's largest copper miner, saw output in August fall off by 6.7% year-on-year to 144,500 tonnes, Cochilco said, dogged by a prolonged strike at its Andina mine near Santiago late in the month. BHP's Escondida BHP.AX, the world's largest copper mine, saw production drop 14% year-on-year to 81,500 tonnes in the same month.
|
4160.0
|
2021-10-04 00:00:00 UTC
|
Chile's top miners see copper production fall in August
|
AAL
|
https://www.nasdaq.com/articles/chiles-top-miners-see-copper-production-fall-in-august-2021-10-04
|
nan
|
nan
|
SANTIAGO, Oct 4 (Reuters) - Chile's Codelco, the world's largest copper miner, saw output in August fall off by 6.7% year-on-year to 144,500 tonnes, Chilean state copper commission Cochilco said on Monday.
BHP's Escondida BHP.AX, the world's largest copper mine, saw production drop 14% year-on-year to 81,500 tonnes in the same month.
At the Collahuasi copper mine - a joint venture by Glencore GLEN.N and Anglo American AAL.L - production fell 19.7% year-on-year to 48,200 tonnes in August, the agency said.
(Reporting by Fabian Cambero, writing by Dave Sherwood)
((dave.sherwood@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.
|
At the Collahuasi copper mine - a joint venture by Glencore GLEN.N and Anglo American AAL.L - production fell 19.7% year-on-year to 48,200 tonnes in August, the agency said. SANTIAGO, Oct 4 (Reuters) - Chile's Codelco, the world's largest copper miner, saw output in August fall off by 6.7% year-on-year to 144,500 tonnes, Chilean state copper commission Cochilco said on Monday. BHP's Escondida BHP.AX, the world's largest copper mine, saw production drop 14% year-on-year to 81,500 tonnes in the same month.
|
At the Collahuasi copper mine - a joint venture by Glencore GLEN.N and Anglo American AAL.L - production fell 19.7% year-on-year to 48,200 tonnes in August, the agency said. SANTIAGO, Oct 4 (Reuters) - Chile's Codelco, the world's largest copper miner, saw output in August fall off by 6.7% year-on-year to 144,500 tonnes, Chilean state copper commission Cochilco said on Monday. BHP's Escondida BHP.AX, the world's largest copper mine, saw production drop 14% year-on-year to 81,500 tonnes in the same month.
|
At the Collahuasi copper mine - a joint venture by Glencore GLEN.N and Anglo American AAL.L - production fell 19.7% year-on-year to 48,200 tonnes in August, the agency said. SANTIAGO, Oct 4 (Reuters) - Chile's Codelco, the world's largest copper miner, saw output in August fall off by 6.7% year-on-year to 144,500 tonnes, Chilean state copper commission Cochilco said on Monday. (Reporting by Fabian Cambero, writing by Dave Sherwood) ((dave.sherwood@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.
|
At the Collahuasi copper mine - a joint venture by Glencore GLEN.N and Anglo American AAL.L - production fell 19.7% year-on-year to 48,200 tonnes in August, the agency said. SANTIAGO, Oct 4 (Reuters) - Chile's Codelco, the world's largest copper miner, saw output in August fall off by 6.7% year-on-year to 144,500 tonnes, Chilean state copper commission Cochilco said on Monday. BHP's Escondida BHP.AX, the world's largest copper mine, saw production drop 14% year-on-year to 81,500 tonnes in the same month.
|
4161.0
|
2021-10-03 00:00:00 UTC
|
Delta Air's ticket sales improve, reinstates initial Q3 revenue view
|
AAL
|
https://www.nasdaq.com/articles/delta-airs-ticket-sales-improve-reinstates-initial-q3-revenue-view-2021-10-04
|
nan
|
nan
|
By Rajesh Kumar Singh
BOSTON, Oct 3 (Reuters) - Delta Air Lines DAL.N said on Sunday that its ticket sales had stabilized and started to improve, putting it on course to deliver third-quarter revenue within its original forecast for a 30%-35% drop versus corresponding 2019 levels.
This is an improvement from its projection last month when it adjusted the forecast to the lower end of that range after a resurgence in COVID-19 cases. The airline is due to report results for the quarter through September on Oct. 13.
"For Delta, they bottomed out in the later part of August and the first part of September," Chief Executive ED Bastian told reporters on the sidelines of a meeting of airlines group IATA. "Business traffic is growing back in the U.S."
Domestic travel bookings are expected to surpass 2019 levels next year, Bastian added.
Later, the airline said it would boost its capacity by more than 20% next summer over the 2019 peak by increasing service from Boston.
The company is also seeing a surge in demand for trans-Atlantic flights after the White House's decision late last month to reopen the country to fully vaccinated travelers from around the world.
Trans-Atlantic flights accounted for 11% to 17% of 2019 passenger revenues for the big three air carriers - American Airlines AAL.O, United Airlines UAL.O and Delta.
On Delta's staff vaccination rate, Bastian said it had gone up to 84%, driven, in part, by the company's decision to impose a $200 monthly health insurance surcharge for those who had not been vaccinated. He expects the rate to be above 90% by Nov. 1.
Delta, however, is the only major U.S. airline that has still not mandated coronavirus vaccines for employees despite the pressure from the White House.
Bastian said the company has not decided whether to mandate COVID-19 vaccines.
"We're obviously studying it," he said, referring to President Joe Biden's executive order requiring federal contractors to mandate vaccinations.
"I'm not sure how far you need to go in order to be in compliance with the EO (executive order)."
The White House is pressing major U.S. airlines to mandate COVID-19 vaccines for employees by Dec. 8 - the deadline for federal contractors. Large U.S. airlines have a number of federal contracts.
White House pushes U.S. airlines to mandate vaccines for staff by Dec. 8
(Reporting by Rajesh Kumar Singh; Editing by Himani Sarkar)
((rajeshkumar.singh@thomsonreuters.com; +1-312-408-8537; Reuters Messaging: rajeshkumar.singh.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.
|
Trans-Atlantic flights accounted for 11% to 17% of 2019 passenger revenues for the big three air carriers - American Airlines AAL.O, United Airlines UAL.O and Delta. By Rajesh Kumar Singh BOSTON, Oct 3 (Reuters) - Delta Air Lines DAL.N said on Sunday that its ticket sales had stabilized and started to improve, putting it on course to deliver third-quarter revenue within its original forecast for a 30%-35% drop versus corresponding 2019 levels. "Business traffic is growing back in the U.S." Domestic travel bookings are expected to surpass 2019 levels next year, Bastian added.
|
Trans-Atlantic flights accounted for 11% to 17% of 2019 passenger revenues for the big three air carriers - American Airlines AAL.O, United Airlines UAL.O and Delta. By Rajesh Kumar Singh BOSTON, Oct 3 (Reuters) - Delta Air Lines DAL.N said on Sunday that its ticket sales had stabilized and started to improve, putting it on course to deliver third-quarter revenue within its original forecast for a 30%-35% drop versus corresponding 2019 levels. On Delta's staff vaccination rate, Bastian said it had gone up to 84%, driven, in part, by the company's decision to impose a $200 monthly health insurance surcharge for those who had not been vaccinated.
|
Trans-Atlantic flights accounted for 11% to 17% of 2019 passenger revenues for the big three air carriers - American Airlines AAL.O, United Airlines UAL.O and Delta. On Delta's staff vaccination rate, Bastian said it had gone up to 84%, driven, in part, by the company's decision to impose a $200 monthly health insurance surcharge for those who had not been vaccinated. Delta, however, is the only major U.S. airline that has still not mandated coronavirus vaccines for employees despite the pressure from the White House.
|
Trans-Atlantic flights accounted for 11% to 17% of 2019 passenger revenues for the big three air carriers - American Airlines AAL.O, United Airlines UAL.O and Delta. The company is also seeing a surge in demand for trans-Atlantic flights after the White House's decision late last month to reopen the country to fully vaccinated travelers from around the world. On Delta's staff vaccination rate, Bastian said it had gone up to 84%, driven, in part, by the company's decision to impose a $200 monthly health insurance surcharge for those who had not been vaccinated.
|
4162.0
|
2021-10-01 00:00:00 UTC
|
3 Most-Shorted Stocks Ready for Buying in October
|
AAL
|
https://www.nasdaq.com/articles/3-most-shorted-stocks-ready-for-buying-in-october-2021-10-01
|
nan
|
nan
|
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Fear played out like clockwork this past month. And Wall Street’s bearish behavior wasn’t lost on today’s most-shorted stocks. Entering October though, three monthly price charts with larger bear populations are hinting at profitable treats for technical-oriented buyers.
What just happened? If you’re wondering about trading accounts tethered to large-cap bellwethers such as the S&P 500 or Nasdaq Composite, it’s called seasonal bearish tendencies revealing themselves in grand style in 2021.
And maybe not entirely a surprise, even uncorrelated most-shorted stocks prized by the Reddit crowd were victimized by the broader risk-off campaigning.
10 Hyper-Growth Stocks to Be Careful of as We Near a Correction
Blame aside, and whether it was China’s Evergrande or U.S. debt ceiling jitters which forced investors hands to pound the sell button and forcibly sink the major benchmarks by roughly 4.5% to nearly 6% in September, the damage is done.
Carvana (NYSE:CVNA)
American Airlines (NASDAQ:AAL)
SunPower Corporation (NASDAQ:SPWR)
That’s not to say the selling is entirely over. It is October and the calendar’s most notorious month for slippery price recalculations. Selectively though, the damage in a couple of the market’s most-shorted stocks may be exhausted based on today’s bullish monthly price charts.
Most-Shorted Stocks to Buy: Carvana (CVNA)
Source: Charts by TradingView
The first of our most-shorted stocks to buy is online auto marketplace Carvana. The $27 billion giant has short-interest of 20%. But a detour within CVNA stock’s uptrend should be coming to a finish and that’s good news for buyers.
Technically, CVNA’s monthly chart shows a pullback that’s parked itself into trendline support dating back to its March 2020 Covid bottom.
Bullishly, the retreat in share price is backed by this most-shorted stock’s 50% Fibonacci level tied to this past May’s bullish hammer pivot. Also CVNA’s monthly stochastics are just nearing oversold territory.
Bottom line, I won’t proclaim this most-shorted stock is a sure-fire, back-up-the-truck situation. Still, I do see buckling up with a December $310/$340 bull call spread as a safer test drive with solid upside potential in lieu of buying CVNA stock.
American Airlines (AAL)
Source: Charts by TradingView
American Airlines is the next of our most-shorted stocks to buy. AAL stock is valued at nearly $13 billion and maintains short interest of about 17%.
Today I’d warn investors not to believe fearful warnings the world has changed for airlines. Instead, it’s time to trust a very bullish-looking price chart.
Technically, shares of AAL have put together an emerging monthly uptrend after breaking above a two-year long downtrend. It’s bullish, but there’s other reasons to prepare for this most-shorted stock to take-off!
Along with September’s market bucking price action confirming a low for the pullback pattern, stochastics is signaling a momentum-style setup for this most-shorted stock.
10 Hyper-Growth Stocks to Be Careful of as We Near a Correction
Given the evidence, the 50% retracement level near $33 is a destination today’s investors can get on board with using a smartly positioned long January $25 call.
Most-Shorted Stocks to Buy: SunPower (SPWR)
Source: Charts by TradingView
The last of our most-shorted stocks to purchase are shares of SunPower. Bears have piled up short bets in the solar play’s shares to the tune of roughly 18% of SPWR’s float. But that commitment now appears misplaced.
After a massive valuation heist and bear market of about 65%, those doubters may want to cash out while they can. Following September’s demonstration of relative and absolute strength, this most-shorted stock has confirmed a monthly double-bottoming pattern to kickstart October.
With SPWR’s oversold stochastics also suggesting bears have overstayed their welcome, there’s reasons to be hopeful of a brighter future for SunPower’s investors.
To ensure against getting scorched, an actively-managed November $22/$30 collar combination is one favored way to go long this most-shorted stock for intermediate and longer-term bulls.
On the date of publication, Chris Tyler does not hold (either directly or indirectly) any positions in securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Chris Tyler is a former floor-based, derivatives market maker on the American and Pacific exchanges. For additional market insights and related musings, follow Chris on Twitter @Options_CAT and StockTwits.
The post 3 Most-Shorted Stocks Ready for Buying in October 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.
|
Carvana (NYSE:CVNA) American Airlines (NASDAQ:AAL) SunPower Corporation (NASDAQ:SPWR) That’s not to say the selling is entirely over. American Airlines (AAL) AAL stock is valued at nearly $13 billion and maintains short interest of about 17%.
|
Carvana (NYSE:CVNA) American Airlines (NASDAQ:AAL) SunPower Corporation (NASDAQ:SPWR) That’s not to say the selling is entirely over. American Airlines (AAL) AAL stock is valued at nearly $13 billion and maintains short interest of about 17%.
|
Carvana (NYSE:CVNA) American Airlines (NASDAQ:AAL) SunPower Corporation (NASDAQ:SPWR) That’s not to say the selling is entirely over. American Airlines (AAL) AAL stock is valued at nearly $13 billion and maintains short interest of about 17%.
|
Carvana (NYSE:CVNA) American Airlines (NASDAQ:AAL) SunPower Corporation (NASDAQ:SPWR) That’s not to say the selling is entirely over. American Airlines (AAL) AAL stock is valued at nearly $13 billion and maintains short interest of about 17%.
|
4163.0
|
2021-10-01 00:00:00 UTC
|
White House presses U.S. airlines to quickly mandate vaccines for staff
|
AAL
|
https://www.nasdaq.com/articles/white-house-presses-u.s.-airlines-to-quickly-mandate-vaccines-for-staff-2021-10-01
|
nan
|
nan
|
(Adds comments by JetBlue, airline pilots union, Delta, Southwest)
By David Shepardson
WASHINGTON, Oct 1 (Reuters) - The White House is pressing major U.S. airlines to mandate coronavirus vaccines for employees by Dec. 8 and showing no signs of extending the deadline, four sources told Reuters on Friday.
White House COVID-19 response coordinator Jeffrey Zients spoke to the chief executives of American Airlines , Delta Air Lines and Southwest Airlines on Thursday to ensure they were working expeditiously to develop and enforce vaccine requirements ahead of the Dec. 8 deadline for federal contractors, the sources said.
Some airline officials had asked the White House to push back the requirements, signed by President Joe Biden last month, until after the busy holiday travel season.
Zients urged the airlines "to act sooner than later to ensure as smooth of an implementation process as possible," one source said, and made clear the White House does not intend to relax the deadline.
Zients also urged them to look at the United Airlines vaccine requirement https://www.reuters.com/business/healthcare-pharmaceuticals/united-airlines-says-more-than-99-us-employees-have-been-vaccinated-2021-09-28 that was announced in August.
The three airlines separately confirmed the calls took place but declined to discuss the specifics. Zients did not respond to a request for comment on the calls.
"Employers should act now to protect their workforce," Zients said at a press briefing on Friday, without directly discussing airlines. "More and more companies are stepping up to make vaccine requirements the standard across all sectors."
Last month, Biden signed an executive order requiring federal contractors to mandate https://www.reuters.com/world/us/exclusive-white-house-wants-millions-government-contractors-vaccinated-by-dec-8-2021-09-24 vaccinations and last week issued guidance.
Large U.S. airlines have a number of federal contracts, including the Civil Reserve Air Fleet (CRAF), which was activated in August to help ferry people who have been evacuated from Afghanistan in support of the U.S. Defense Department.
The Biden administration notified carriers on Thursday it would seek a modification of those CRAF contracts to require vaccinations of airline employees, sources told Reuters.
Other government agencies are also expected to seek amendments to contracts with airlines.
Last week, the Allied Pilots https://www.alliedpilots.org/Portals/0/Public/DEPT/COMMUNICATIONS/Documents/Blast%20Docs/APA_VaccineMandate_AMOC_Final.pdfAssociation, which represents 14,000 pilots who fly for American Airlines, warned "mandatory vaccinations could result in labor shortages and create serious operational problems for American Airlines and its peers."
Two smaller airlines said on Friday they would comply with the vaccine mandate for federal contractors. JetBlue Airways said it had "communicated this vaccine requirement to our crew members."
Alaska Airlines said it would comply with the federal contractor vaccine requirements, saying it believes it and other major U.S. airlines are covered by the executive order.
Alaska said it "means all of our employees, including certain contractors and vendors, will be required to be fully vaccinated, or be approved for a reasonable accommodation such as medical conditions or religious beliefs that prevent them from being vaccinated."
It added: "The date by which employees must be fully vaccinated has not been confirmed by the government, but it could be as early at Dec. 8."
The Federal Acquisition Regulatory Council issued a memorandum https://www.whitehouse.gov/wp-content/uploads/2021/09/FAR-Council-Guidance-on-Agency-Issuance-of-Deviations-to-Implement-EO-14042.pdf on Thursday on incorporating a clause into their solicitations and contracts on vaccines. It is expected to issue guidance on exemptions on Oct. 8, sources said.
Separately, the Labor Department will issue an emergency https://www.reuters.com/world/the-great-reboot/us-retail-industry-seeks-90-day-lead-time-covid-19-rules-2021-09-21order covering more than 80 million private-sector employees to require either regular COVID-19 testing or vaccines. That order is expected this month https://www.reuters.com/legal/government/white-house-wants-millions-government-contractors-vaccinated-by-dec-8-2021-09-24.
Delta said on Friday that 84% of its employees are vaccinated and it continues "to evaluate the administration’s plan." Southwest said it "continues to strongly encourage employees to receive the COVID-19 vaccine."
United Airlines said 99.5% of its U.S.-based employees now have been vaccinated against COVID-19, excluding those who have sought an exemption.
The Chicago-based carrier said only 320 U.S.-based staff are not in compliance as of now with its COVID-19 vaccination policy.
United, which in early August became the first U.S. carrier to require COVID-19 vaccinations for all domestic employees, had asked staff to provide proof of vaccination by Monday or face termination. (Reporting by David Shepardson in Washington Editing by Howard Goller, Rosalba O'Brien and Matthew Lewis) ((David.Shepardson@thomsonreuters.com; 2028988324;)) Keywords: HEALTH CORONAVIRUS/USA AIRLINES (UPDATE 1, PIX)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Some airline officials had asked the White House to push back the requirements, signed by President Joe Biden last month, until after the busy holiday travel season. Zients urged the airlines "to act sooner than later to ensure as smooth of an implementation process as possible," one source said, and made clear the White House does not intend to relax the deadline. Large U.S. airlines have a number of federal contracts, including the Civil Reserve Air Fleet (CRAF), which was activated in August to help ferry people who have been evacuated from Afghanistan in support of the U.S. Defense Department.
|
(Adds comments by JetBlue, airline pilots union, Delta, Southwest) By David Shepardson WASHINGTON, Oct 1 (Reuters) - The White House is pressing major U.S. airlines to mandate coronavirus vaccines for employees by Dec. 8 and showing no signs of extending the deadline, four sources told Reuters on Friday. Last month, Biden signed an executive order requiring federal contractors to mandate https://www.reuters.com/world/us/exclusive-white-house-wants-millions-government-contractors-vaccinated-by-dec-8-2021-09-24 vaccinations and last week issued guidance. The Biden administration notified carriers on Thursday it would seek a modification of those CRAF contracts to require vaccinations of airline employees, sources told Reuters.
|
(Adds comments by JetBlue, airline pilots union, Delta, Southwest) By David Shepardson WASHINGTON, Oct 1 (Reuters) - The White House is pressing major U.S. airlines to mandate coronavirus vaccines for employees by Dec. 8 and showing no signs of extending the deadline, four sources told Reuters on Friday. White House COVID-19 response coordinator Jeffrey Zients spoke to the chief executives of American Airlines , Delta Air Lines and Southwest Airlines on Thursday to ensure they were working expeditiously to develop and enforce vaccine requirements ahead of the Dec. 8 deadline for federal contractors, the sources said. Alaska Airlines said it would comply with the federal contractor vaccine requirements, saying it believes it and other major U.S. airlines are covered by the executive order.
|
Last month, Biden signed an executive order requiring federal contractors to mandate https://www.reuters.com/world/us/exclusive-white-house-wants-millions-government-contractors-vaccinated-by-dec-8-2021-09-24 vaccinations and last week issued guidance. The Biden administration notified carriers on Thursday it would seek a modification of those CRAF contracts to require vaccinations of airline employees, sources told Reuters. Alaska Airlines said it would comply with the federal contractor vaccine requirements, saying it believes it and other major U.S. airlines are covered by the executive order.
|
4164.0
|
2021-10-01 00:00:00 UTC
|
EXCLUSIVE-White House presses U.S. airlines to quickly mandate vaccines for staff
|
AAL
|
https://www.nasdaq.com/articles/exclusive-white-house-presses-u.s.-airlines-to-quickly-mandate-vaccines-for-staff-2021-0
|
nan
|
nan
|
By David Shepardson
WASHINGTON, Oct 1 (Reuters) - The White House is pressing major U.S. airlines to mandate coronavirus vaccines for employees by Dec. 8 and showing no signs of extending the deadline, four sources told Reuters on Friday.
White House COVID-19 response coordinator Jeffrey Zients spoke to the chief executives of American Airlines AAL.O, Delta Air Lines DAL.N and Southwest Airlines LUV.N on Thursday to ensure they were working expeditiously to develop and enforce vaccine requirements ahead of a Dec. 8 deadline for federal contractors, the sources said.
Some airline officials had asked the White House to push back the requirements, signed by President Joe Biden last month, until after the busy holiday travel season.
Zients urged the airlines "to act sooner than later to ensure as smooth of an implementation process as possible," one source said, and urged them to look at the United Airlines UAL.O vaccine requirement that was announced in August.
The three airlines separately confirmed the calls took place but declined to discuss the specifics. Zients did not respond to a request for comment on the calls.
"Employers should act now to protect their workforce," Zients said at a briefing Friday, without directly discussing airlines. "More and more companies are stepping up to make vaccine requirements the standard across all sectors."
Last month, Biden signed an executive order requiring federal contractors to mandate vaccinations.
Large U.S. airlines have a number of federal contracts, including the Civil Reserve Air Fleet (CRAF), which was activated in August to help ferry people who have been evacuated from Afghanistan in support of the U.S. Defense Department.
The Biden administration notified carriers on Thursday it would seek a modification of those CRAF contracts to require vaccinations of airline employees, sources told Reuters.
Other government agencies are also expected to seek amendments to contracts with airlines.
Alaska Airlines ALK.N said Friday it would comply with the federal contractor vaccine requirements, saying it believes it and other major U.S. airlines are covered by the executive order.
Alaska said it "means all of our employees, including certain contractors and vendors, will be required to be fully vaccinated, or be approved for a reasonable accommodation such as medical conditions or religious beliefs that prevent them from being vaccinated."
It added: "The date by which employees must be fully vaccinated has not been confirmed by the government, but it could be as early at Dec. 8."
The Federal Acquisition Regulatory Council is expected to issue guidance on exemptions on Oct. 8, sources said.
United Airlines on Thursday said 99.5% of U.S.-based employees now have been vaccinated against COVID-19, excluding those who have sought an exemption.
The Chicago-based carrier said only 320 U.S.-based staff are now not in compliance with its COVID-19 vaccination policy, marking a 46% drop in the past two days.
United, which in early August became the first U.S. carrier to require COVID-19 vaccinations for all domestic employees, had asked staff to provide proof of vaccination by Monday or face termination.
(Reporting by David Shepardson; Editing by Howard Goller and 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.
|
White House COVID-19 response coordinator Jeffrey Zients spoke to the chief executives of American Airlines AAL.O, Delta Air Lines DAL.N and Southwest Airlines LUV.N on Thursday to ensure they were working expeditiously to develop and enforce vaccine requirements ahead of a Dec. 8 deadline for federal contractors, the sources said. Some airline officials had asked the White House to push back the requirements, signed by President Joe Biden last month, until after the busy holiday travel season. Large U.S. airlines have a number of federal contracts, including the Civil Reserve Air Fleet (CRAF), which was activated in August to help ferry people who have been evacuated from Afghanistan in support of the U.S. Defense Department.
|
White House COVID-19 response coordinator Jeffrey Zients spoke to the chief executives of American Airlines AAL.O, Delta Air Lines DAL.N and Southwest Airlines LUV.N on Thursday to ensure they were working expeditiously to develop and enforce vaccine requirements ahead of a Dec. 8 deadline for federal contractors, the sources said. By David Shepardson WASHINGTON, Oct 1 (Reuters) - The White House is pressing major U.S. airlines to mandate coronavirus vaccines for employees by Dec. 8 and showing no signs of extending the deadline, four sources told Reuters on Friday. Last month, Biden signed an executive order requiring federal contractors to mandate vaccinations.
|
White House COVID-19 response coordinator Jeffrey Zients spoke to the chief executives of American Airlines AAL.O, Delta Air Lines DAL.N and Southwest Airlines LUV.N on Thursday to ensure they were working expeditiously to develop and enforce vaccine requirements ahead of a Dec. 8 deadline for federal contractors, the sources said. Zients urged the airlines "to act sooner than later to ensure as smooth of an implementation process as possible," one source said, and urged them to look at the United Airlines UAL.O vaccine requirement that was announced in August. Alaska Airlines ALK.N said Friday it would comply with the federal contractor vaccine requirements, saying it believes it and other major U.S. airlines are covered by the executive order.
|
White House COVID-19 response coordinator Jeffrey Zients spoke to the chief executives of American Airlines AAL.O, Delta Air Lines DAL.N and Southwest Airlines LUV.N on Thursday to ensure they were working expeditiously to develop and enforce vaccine requirements ahead of a Dec. 8 deadline for federal contractors, the sources said. The three airlines separately confirmed the calls took place but declined to discuss the specifics. The Biden administration notified carriers on Thursday it would seek a modification of those CRAF contracts to require vaccinations of airline employees, sources told Reuters.
|
4165.0
|
2021-10-01 00:00:00 UTC
|
EXCLUSIVE-White House pressing U.S. airlines to quickly mandate vaccines
|
AAL
|
https://www.nasdaq.com/articles/exclusive-white-house-pressing-u.s.-airlines-to-quickly-mandate-vaccines-2021-10-01
|
nan
|
nan
|
WASHINGTON, Oct 1 (Reuters) - The White House is pressing major U.S. airlines to mandate vaccines for employees by Dec. 8, four sources told Reuters on Friday.
White House COVID-19 response coordinator Jeffrey Zients spoke to the chief executives of American Airlines AAL.O, Delta Air Lines DAL.N and Southwest Airlines LUV.N on Thursday to ensure that they are working expeditiously to develop and enforce vaccine requirements ahead of a Dec. 8 deadline for federal contractors, the sources said.
Some airline officials have asked the White House to push back the requirements until after the busy holiday travel season.
(Reporting by David Shepardson; Editing by 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.
|
White House COVID-19 response coordinator Jeffrey Zients spoke to the chief executives of American Airlines AAL.O, Delta Air Lines DAL.N and Southwest Airlines LUV.N on Thursday to ensure that they are working expeditiously to develop and enforce vaccine requirements ahead of a Dec. 8 deadline for federal contractors, the sources said. Some airline officials have asked the White House to push back the requirements until after the busy holiday travel season. (Reporting by David Shepardson; Editing by 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.
|
White House COVID-19 response coordinator Jeffrey Zients spoke to the chief executives of American Airlines AAL.O, Delta Air Lines DAL.N and Southwest Airlines LUV.N on Thursday to ensure that they are working expeditiously to develop and enforce vaccine requirements ahead of a Dec. 8 deadline for federal contractors, the sources said. WASHINGTON, Oct 1 (Reuters) - The White House is pressing major U.S. airlines to mandate vaccines for employees by Dec. 8, four sources told Reuters on Friday. Some airline officials have asked the White House to push back the requirements until after the busy holiday travel season.
|
White House COVID-19 response coordinator Jeffrey Zients spoke to the chief executives of American Airlines AAL.O, Delta Air Lines DAL.N and Southwest Airlines LUV.N on Thursday to ensure that they are working expeditiously to develop and enforce vaccine requirements ahead of a Dec. 8 deadline for federal contractors, the sources said. WASHINGTON, Oct 1 (Reuters) - The White House is pressing major U.S. airlines to mandate vaccines for employees by Dec. 8, four sources told Reuters on Friday. (Reporting by David Shepardson; Editing by 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.
|
White House COVID-19 response coordinator Jeffrey Zients spoke to the chief executives of American Airlines AAL.O, Delta Air Lines DAL.N and Southwest Airlines LUV.N on Thursday to ensure that they are working expeditiously to develop and enforce vaccine requirements ahead of a Dec. 8 deadline for federal contractors, the sources said. WASHINGTON, Oct 1 (Reuters) - The White House is pressing major U.S. airlines to mandate vaccines for employees by Dec. 8, four sources told Reuters on Friday. Some airline officials have asked the White House to push back the requirements until after the busy holiday travel season.
|
4166.0
|
2021-09-30 00:00:00 UTC
|
AAL Makes Notable Cross Below Critical Moving Average
|
AAL
|
https://www.nasdaq.com/articles/aal-makes-notable-cross-below-critical-moving-average-2021-10-01
|
nan
|
nan
|
In trading on Thursday, shares of American Airlines Group Inc (Symbol: AAL) crossed below their 200 day moving average of $20.45, changing hands as low as $20.37 per share. American Airlines Group Inc shares are currently trading off about 2.4% on the day. The chart below shows the one year performance of AAL shares, versus its 200 day moving average:
Looking at the chart above, AAL's low point in its 52 week range is $10.63 per share, with $26.09 as the 52 week high point — that compares with a last trade of $20.52. The AAL DMA information above was sourced from TechnicalAnalysisChannel.com
Click here to find out which 9 other stocks recently crossed below their 200 day moving average »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
In trading on Thursday, shares of American Airlines Group Inc (Symbol: AAL) crossed below their 200 day moving average of $20.45, changing hands as low as $20.37 per share. The chart below shows the one year performance of AAL shares, versus its 200 day moving average: Looking at the chart above, AAL's low point in its 52 week range is $10.63 per share, with $26.09 as the 52 week high point — that compares with a last trade of $20.52. The AAL DMA information above was sourced from TechnicalAnalysisChannel.com Click here to find out which 9 other stocks recently crossed below their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
In trading on Thursday, shares of American Airlines Group Inc (Symbol: AAL) crossed below their 200 day moving average of $20.45, changing hands as low as $20.37 per share. The chart below shows the one year performance of AAL shares, versus its 200 day moving average: Looking at the chart above, AAL's low point in its 52 week range is $10.63 per share, with $26.09 as the 52 week high point — that compares with a last trade of $20.52. The AAL DMA information above was sourced from TechnicalAnalysisChannel.com Click here to find out which 9 other stocks recently crossed below their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
In trading on Thursday, shares of American Airlines Group Inc (Symbol: AAL) crossed below their 200 day moving average of $20.45, changing hands as low as $20.37 per share. The chart below shows the one year performance of AAL shares, versus its 200 day moving average: Looking at the chart above, AAL's low point in its 52 week range is $10.63 per share, with $26.09 as the 52 week high point — that compares with a last trade of $20.52. The AAL DMA information above was sourced from TechnicalAnalysisChannel.com Click here to find out which 9 other stocks recently crossed below their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
In trading on Thursday, shares of American Airlines Group Inc (Symbol: AAL) crossed below their 200 day moving average of $20.45, changing hands as low as $20.37 per share. The chart below shows the one year performance of AAL shares, versus its 200 day moving average: Looking at the chart above, AAL's low point in its 52 week range is $10.63 per share, with $26.09 as the 52 week high point — that compares with a last trade of $20.52. The AAL DMA information above was sourced from TechnicalAnalysisChannel.com Click here to find out which 9 other stocks recently crossed below their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
4167.0
|
2021-09-30 00:00:00 UTC
|
American Airlines Partners With Another Budget Airline
|
AAL
|
https://www.nasdaq.com/articles/american-airlines-partners-with-another-budget-airline-2021-09-30
|
nan
|
nan
|
Over the past quarter-century, U.S. airlines have increasingly relied on close partnerships with foreign airlines to enhance their international service. Many have formed joint ventures with other countries' flag carriers, providing full-service offerings throughout a customer's journey, regardless of which airline operates any given flight segment.
American Airlines (NASDAQ: AAL) has formed several such joint ventures over the past two decades. However, the company has become less selective when looking for international partners recently. In fact, it has signed partnership deals with two ultra-low-cost carriers in the past few months. Let's take a look at what this means for American Airlines going forward.
A long history of seeking international partnerships
In 1996, American Airlines made its first attempt to form a transatlantic joint venture with British Airways. However, antitrust concerns related to the alliance's potential dominance of flights between the U.S. and London's Heathrow Airport repeatedly stymied the plan. In 1999, the two carriers began cooperating on a smaller scale (along with other airlines including Cathay Pacific and Qantas) through the oneworld global airline alliance.
Ultimately, American Airlines formed its first joint venture in 2002, teaming up with Finnair, Finland's flag carrier. It finally received approval for a joint venture with British Airways and Spanish flag carrier Iberia in 2010. American added a transpacific joint venture with Japan Airlines in early 2011. Just before the pandemic hit, it launched a joint venture with Australian flag carrier Qantas. And most recently, Aer Lingus joined American Airlines' existing transatlantic joint venture.
Image source: American Airlines.
Thus, American Airlines has a robust set of joint ventures spanning much of the globe, all with storied national flag carriers. It also maintains lesser partnerships with more than a dozen other airlines, either through the oneworld alliance or bilateral partnerships.
Breaking the mold
More recently, American Airlines has expanded its horizons in looking for international partners. After Chile blocked its plan to form a joint venture with South American airline giant Latam Airlines in 2019, Latam chose to team up with Delta Air Lines instead.
That forced American to get more creative. Last year, it signed a codeshare agreement with Brazilian low-cost carrier Gol Linhas Aereas. Two weeks ago, American said it would make a $200 million investment in Gol and expand this partnership. However, whereas Latam's operations span much of South America, Gol mainly operates within Brazil.
As a result, American Airlines announced in late July that it planned to buy a minority stake in Chile-based budget airline JetSMART and form a codeshare agreement with the carrier. JetSMART started operations just a few years ago, but it already has a broad route network, mainly in Chile and Argentina.
On Tuesday, American Airlines announced a codeshare agreement with another ultra-low-cost carrier. This time, it is partnering with IndiGo, India's largest airline. American plans to launch nonstop service from New York to Delhi and from Seattle to Bangalore over the next few months. By placing its code on 29 IndiGo routes within India, American can offer connecting options for travelers on its new flights to India.
Image source: American Airlines.
A risky move
American Airlines has good reasons for teaming up with budget airlines. After being blocked from forming a joint venture with Latam, it didn't have any better options in southern South America. And ultra-low-cost carriers dominate the Indian air travel market. IndiGo alone has captured more than half of the market, making it the best potential partner among all of India's budget airlines.
On the flip side, the JetSMART and IndiGo codeshare agreements will have American Airlines marketing ultra-low-cost carriers' flights under its own brand. That could create confusion about service standards among customers. After all, JetSMART and IndiGo are no-frills airlines, whereas American Airlines still presents itself as a full-service airline (especially on long-haul routes).
In short, American's partnerships with ultra-low-cost carriers have clear tangible benefits in the form of additional connecting options for customers, offset by potential intangible harm -- i.e., brand damage.
In theory, American Airlines might be able to collaborate with its new partners to offer an upgraded experience to customers connecting to and from long-haul flights. That said, American Airlines has earned a poor reputation for customer service and operational performance in recent years, so I am skeptical that it will implement a good solution to this challenge. As a result, partnering with ultra-low-cost carriers could drive further erosion of American Airlines' brand over the next few years.
10 stocks we like better than American Airlines Group
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 American Airlines Group 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 September 17, 2021
Adam Levine-Weinberg owns shares of Delta Air Lines. 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.
|
American Airlines (NASDAQ: AAL) has formed several such joint ventures over the past two decades. A long history of seeking international partnerships In 1996, American Airlines made its first attempt to form a transatlantic joint venture with British Airways. In short, American's partnerships with ultra-low-cost carriers have clear tangible benefits in the form of additional connecting options for customers, offset by potential intangible harm -- i.e., brand damage.
|
American Airlines (NASDAQ: AAL) has formed several such joint ventures over the past two decades. After Chile blocked its plan to form a joint venture with South American airline giant Latam Airlines in 2019, Latam chose to team up with Delta Air Lines instead. By placing its code on 29 IndiGo routes within India, American can offer connecting options for travelers on its new flights to India.
|
American Airlines (NASDAQ: AAL) has formed several such joint ventures over the past two decades. After Chile blocked its plan to form a joint venture with South American airline giant Latam Airlines in 2019, Latam chose to team up with Delta Air Lines instead. As a result, American Airlines announced in late July that it planned to buy a minority stake in Chile-based budget airline JetSMART and form a codeshare agreement with the carrier.
|
American Airlines (NASDAQ: AAL) has formed several such joint ventures over the past two decades. Many have formed joint ventures with other countries' flag carriers, providing full-service offerings throughout a customer's journey, regardless of which airline operates any given flight segment. In fact, it has signed partnership deals with two ultra-low-cost carriers in the past few months.
|
4168.0
|
2021-09-29 00:00:00 UTC
|
4 Consumer Stocks For Your October 2021 Watchlist
|
AAL
|
https://www.nasdaq.com/articles/4-consumer-stocks-for-your-october-2021-watchlist-2021-09-29
|
nan
|
nan
|
Are These The Best Consumer Stocks To Buy In October 2021?
With thestock market todaylooking to recover from major losses on Tuesday, could consumer stocks be worth jumping on? Sure, the focus today would be on tech stocks given the rebound seen in the Nasdaq composite today. However, with the current high valuations among the bigger names in tech, investors could be looking elsewhere for now. This would be where consumer stocks come into play. For the most part, as consumer spending trends continue to impress, I could see consumer stocks coming into focus.
Take Lucid Motors (NASDAQ: LCID) for example. The company is an emerging name in the electric vehicle (EV) space now. Starting today, Lucid is beginning production of its flagship Air sedans for customers. By the company’s estimates, deliveries are set to begin in late October. Because of this, LCID is currently up by over 8% at Wednesday’s opening bell.
Elsewhere, pending home sales reportedly surged by 8.1% month-over-month in August. This would see real estate stocks such as Lennar Corporation (NYSE: LEN) gain as well. Overall, consumers appear to be out in full force now. Could that make these companies top picks in the stock market this week?
Top Consumer Stocks To Buy [Or Sell] This Week
Cal-Maine Food Inc. (NASDAQ: CALM)
Home Depot Inc. (NYSE: HD)
American Airlines Group Inc. (NASDAQ: AAL)
Netflix Inc. (NASDAQ: NFLX)
Cal-Maine Foods Inc.
Cal-Maine Foods is the largest producer and distributor of shell eggs in the U.S. It is on track to also be one of the most sustainable producers of high-quality fresh shell eggs and egg products across the country. Its integrated operations consist of hatching chicks, growing, and maintaining flocks of pullets, layers, and breeders. Spanning over 30 years, it has completed 22 acquisitions ranging in size from 160 thousand layers to 7.5 million layers. CALM stock currently trades at $36.45 going into Thursday’s trading session.
On Tuesday, the company reported its first-quarter financials for fiscal 2022. Firstly, net sales for the quarter were $331.7 million, up by 13.3% year-over-year. CEO Dolph Baker had this to say, “An important competitive advantage for Cal-Maine Foods is our ability to meet our customers’ evolving needs with a favorable product mix of conventional, cage-free, organic, and other specialty eggs and egg products. We have enhanced our efforts to provide free-range and pasture-raised eggs that meet consumers’ evolving choice preferences.”
Secondly, the company also says that its operations continue to run well and it is confident in its growth strategy to provide a favorable product mix and also expand its specialty egg production. All things considered, is this the time to buy CALM stock?
[Read More] Best Lithium Battery Stocks To Buy Now? 4 To Know
The Home Depot Inc.
Following that, we have Home Depot, the world’s largest home improvement specialty retailer. It operates a total of 2,298 Home Depot retail stores in all 50 states, Canada, and Mexico. In fact, the company had sales of over $130 billion and earnings of $12.9 billion in fiscal 2020.
On average, its typical store has 105,000 square feet of indoor retail space. Besides, its e-commerce business offers more than 1 million products for both its DIY customers and professional contractors. HD stock currently trades $336.93 as of Wednesday’s closing bell.
On September 28, 2021, the company announced that it will invest $10 million in venture capital funds that promote diversity, technology, and entrepreneurship. For instance, they include Base10 Partners, a venture firm investing in automation, and Plexo Capital, an institutional investor that allocates capital to fund the global startup ecosystem. Home Depot says the future of retail lies in technology and innovation, and this would be the company investing in its future. For this reason, will you consider adding HD stock to your list of consumer stocks to buy?
[Read More] What Stocks To Buy Today? 5 Tech Stocks To Watch
American Airlines Group Inc.
Next, we will be taking a look at the American Airlines Group, or AAL for short. In brief, AAL is one of the largest airline operators in the world. For a sense of scale, the company’s flight network consists of almost 350 destinations across 50 countries at max capacity.
As it stands, AAL stock currently trades at $21.01 as of Wednesday’s close. This would be after gaining by over 110% since its pandemic era low. Even with the current resurgence in coronavirus cases locally, the company continues to bolster its services.
As of yesterday, AAL is now partnering up with IndiGo, one of the largest low-cost airline operators in India. Via a code-sharing agreement, the duo can now launch new flights between the two countries. In essence, code-sharing allows airlines to sell seats on flights operated by one another. Given the scale of IndiGo’s operations, this is a solid play by AAL. Pending approval from U.S. and Indian authorities, both companies see a potential commencement of the service in October 2021. As such, would you consider investing in AAL stock now?
[Read More] Top Stocks To Buy Now? 4 Renewable Energy Stocks For Your Watchlist
Netflix Inc.
Netflix is one of the world’s leading entertainment services, boasting over 200 million paid memberships in over 190 countries. In brief, it boasts a wide catalog of movies, documentaries, and TV series across a wide variety of genres and languages. Also, the company is at the forefront of cord-cutting trends as streaming entertainment continues to replace linear TV. This is a given as consumers can watch content on-demand and on many devices. Furthermore, the experience is personalized to individual tastes.
The company says that it will post its third-quarter financials and business outlook on October 19, 2021. Additionally, the company also recently announced that it has acquired game developer Night School Studio, based known for its critically acclaimed debut game, Oxenfree.
Given Night School Studio’s explorations in narrative gameplay and Netflix’s track record of supporting diverse storytellers is such a natural pairing. Above all, this is in line with the company’s venture towards the gaming industry as it looks to diversify its revenue sources amid intensifying competition in the streaming space. On that note, Netflix has revealed three mobile games which will be available initially in Italy, Poland, and Spain. With that being said, will you consider adding NFLX stock to your portfolio?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Top Consumer Stocks To Buy [Or Sell] This Week Cal-Maine Food Inc. (NASDAQ: CALM) Home Depot Inc. (NYSE: HD) American Airlines Group Inc. (NASDAQ: AAL) Netflix Inc. (NASDAQ: NFLX) Cal-Maine Foods Inc. Cal-Maine Foods is the largest producer and distributor of shell eggs in the U.S. 5 Tech Stocks To Watch American Airlines Group Inc. Next, we will be taking a look at the American Airlines Group, or AAL for short. In brief, AAL is one of the largest airline operators in the world.
|
Top Consumer Stocks To Buy [Or Sell] This Week Cal-Maine Food Inc. (NASDAQ: CALM) Home Depot Inc. (NYSE: HD) American Airlines Group Inc. (NASDAQ: AAL) Netflix Inc. (NASDAQ: NFLX) Cal-Maine Foods Inc. Cal-Maine Foods is the largest producer and distributor of shell eggs in the U.S. 5 Tech Stocks To Watch American Airlines Group Inc. Next, we will be taking a look at the American Airlines Group, or AAL for short. In brief, AAL is one of the largest airline operators in the world.
|
Top Consumer Stocks To Buy [Or Sell] This Week Cal-Maine Food Inc. (NASDAQ: CALM) Home Depot Inc. (NYSE: HD) American Airlines Group Inc. (NASDAQ: AAL) Netflix Inc. (NASDAQ: NFLX) Cal-Maine Foods Inc. Cal-Maine Foods is the largest producer and distributor of shell eggs in the U.S. 5 Tech Stocks To Watch American Airlines Group Inc. Next, we will be taking a look at the American Airlines Group, or AAL for short. In brief, AAL is one of the largest airline operators in the world.
|
Top Consumer Stocks To Buy [Or Sell] This Week Cal-Maine Food Inc. (NASDAQ: CALM) Home Depot Inc. (NYSE: HD) American Airlines Group Inc. (NASDAQ: AAL) Netflix Inc. (NASDAQ: NFLX) Cal-Maine Foods Inc. Cal-Maine Foods is the largest producer and distributor of shell eggs in the U.S. 5 Tech Stocks To Watch American Airlines Group Inc. Next, we will be taking a look at the American Airlines Group, or AAL for short. In brief, AAL is one of the largest airline operators in the world.
|
4169.0
|
2021-09-28 00:00:00 UTC
|
American Airlines signs code-sharing pact with India's largest airline
|
AAL
|
https://www.nasdaq.com/articles/american-airlines-signs-code-sharing-pact-with-indias-largest-airline-2021-09-28
|
nan
|
nan
|
Sept 28 (Reuters) - American Airlines AAL.O announced a code-sharing agreement with India's largest airline IndiGo on Tuesday, with the U.S. airline gearing up to launch new flights between the two countries.
The agreement, which is expected to begin in October, will see American's "code" on 29 of IndiGo's domestic routes in India.
Code-sharing allows an airline to sell seats on a flight operated by its partner, so that it can fly passengers to destinations it does not serve.
The pact with IndiGo airlines, which is India's largest airline by number of passengers carried and owned by InterGlobe Aviation INGL.NS, requires approval of U.S. and Indian authorities, American said. (https://bit.ly/39IeEpV)
The company is launching a new service between New York and India's capital Delhi next month and between Seattle and the city of Bengaluru early next year.
(Reporting by Nathan Gomes 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.
|
Sept 28 (Reuters) - American Airlines AAL.O announced a code-sharing agreement with India's largest airline IndiGo on Tuesday, with the U.S. airline gearing up to launch new flights between the two countries. The agreement, which is expected to begin in October, will see American's "code" on 29 of IndiGo's domestic routes in India. Code-sharing allows an airline to sell seats on a flight operated by its partner, so that it can fly passengers to destinations it does not serve.
|
Sept 28 (Reuters) - American Airlines AAL.O announced a code-sharing agreement with India's largest airline IndiGo on Tuesday, with the U.S. airline gearing up to launch new flights between the two countries. The pact with IndiGo airlines, which is India's largest airline by number of passengers carried and owned by InterGlobe Aviation INGL.NS, requires approval of U.S. and Indian authorities, American said. (Reporting by Nathan Gomes 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.
|
Sept 28 (Reuters) - American Airlines AAL.O announced a code-sharing agreement with India's largest airline IndiGo on Tuesday, with the U.S. airline gearing up to launch new flights between the two countries. The pact with IndiGo airlines, which is India's largest airline by number of passengers carried and owned by InterGlobe Aviation INGL.NS, requires approval of U.S. and Indian authorities, American said. (Reporting by Nathan Gomes 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.
|
Sept 28 (Reuters) - American Airlines AAL.O announced a code-sharing agreement with India's largest airline IndiGo on Tuesday, with the U.S. airline gearing up to launch new flights between the two countries. The agreement, which is expected to begin in October, will see American's "code" on 29 of IndiGo's domestic routes in India. (https://bit.ly/39IeEpV) The company is launching a new service between New York and India's capital Delhi next month and between Seattle and the city of Bengaluru early next year.
|
4170.0
|
2021-09-27 00:00:00 UTC
|
3 Stocks to Avoid This Week
|
AAL
|
https://www.nasdaq.com/articles/3-stocks-to-avoid-this-week-2021-09-27
|
nan
|
nan
|
I've been picking stocks to avoid every week, and last week I didn't do so well. My three stocks to avoid last week were all over the place -- flat, soaring 23%, and climbing 8% -- averaging out to a 10.3% increase.
The S&P 500 rose a mere 0.5% for the week, so I lost badly to the market. Still, I have come out ahead in 10 of the past 14 weeks. Let's see if I can bounce back. This week I see Bed Bath & Beyond (NASDAQ: BBBY), Robinhood Markets (NASDAQ: HOOD), and American Airlines Group (NASDAQ: AAL) as vulnerable investments in the near term. Here's why I think these are three stocks to avoid this week.
Image source: Getty Images.
Bed Bath & Beyond
One would think a superstore chain selling housewares would be booming through the pandemic. We're spending a lot of time at home, and sprucing up our digs has helped boost the prospects of many companies providing home goods that are going through more wear and tear than in the pre-COVID-19 days.
Bed Bath & Beyond didn't get the memo. Revenue has fallen for three consecutive fiscal years. It has fallen short of Wall Street's profit targets in two of the past three quarters, and that's important since the struggling retailer is one of the few companies reporting financial results this week.
Bed Bath & Beyond announces its fiscal-second quarter results on Wednesday morning. Momentum and recent history suggest it won't be very impressive.
Robinhood Markets
Stocks I own personally aren't immune to making the cut on this list, and that brings us to Robinhood Markets. The next-gen trading exchange that ushered in the era of commission-free trading is coming off a great quarter of growth, but the current quarter that ends later this week will be a different story.
Robinhood's second quarter was strong this summer, as revenue soared 131%. The rub is that stock trading revenue actually declined and now accounts for less than 10% of the top-line mix. Robinhood is leaning on options and crypto trading for its revenue -- and that's problematic. Even more problematic is that Dogecoin (CRYPTO: DOGE) was the most popular trade on Robinhood in the second quarter, and volume on that crypto has fallen by roughly 75% this quarter. There are also more places for folks to trade Dogecoin now.
Robinhood's announcement last week that it's launching crypto wallets should help wean the platform off of meme crypto like Dogecoin. Fundamentals-driver crytpo traders will take Robinhood more seriously when they know that they can take their more conventional investments off the platform. However, the current quarter will still be sequential letdown, and with the stock still trading above its July IPO price, there's always the incentive for the more than 300,000 Robinhood traders that got in on the stock at the ground floor to take their profits.
American Airlines
One of the stocks that didn't go my way last week was American Airlines. Shares of the legacy carrier rose 8% for the week on mixed news. The good news is that the U.S. cleared the way for vaccinated European visitors to travel to the country, even if it remains risky given the large number of breakthrough COVID-19 cases in the U.S. these days. The bad news is that the Department of Justice is looking into the potentially anticompetitive nature of the alliance between American Airlines and JetBlue (NASDAQ: JBLU).
Given the sorry state of the airline industry these days, it may be hard to bust up a partnership of two profitless players as being anticompetitive in nature. The bigger problem for American is that it's still a lumbering legacy carrier in an industry that's facing waning demand from corporate and to a lesser extent leisure travel.
If you're looking for safe stocks, you aren't likely to find them in Bed Bath & Beyond, Robinhood Markets, and American Airlines this week.
10 stocks we like better than Bed Bath & Beyond
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 Bed Bath & Beyond 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 September 17, 2021
Rick Munarriz owns shares of Robinhood Markets, Inc. The Motley Fool recommends 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.
|
This week I see Bed Bath & Beyond (NASDAQ: BBBY), Robinhood Markets (NASDAQ: HOOD), and American Airlines Group (NASDAQ: AAL) as vulnerable investments in the near term. It has fallen short of Wall Street's profit targets in two of the past three quarters, and that's important since the struggling retailer is one of the few companies reporting financial results this week. The good news is that the U.S. cleared the way for vaccinated European visitors to travel to the country, even if it remains risky given the large number of breakthrough COVID-19 cases in the U.S. these days.
|
This week I see Bed Bath & Beyond (NASDAQ: BBBY), Robinhood Markets (NASDAQ: HOOD), and American Airlines Group (NASDAQ: AAL) as vulnerable investments in the near term. Shares of the legacy carrier rose 8% for the week on mixed news. If you're looking for safe stocks, you aren't likely to find them in Bed Bath & Beyond, Robinhood Markets, and American Airlines this week.
|
This week I see Bed Bath & Beyond (NASDAQ: BBBY), Robinhood Markets (NASDAQ: HOOD), and American Airlines Group (NASDAQ: AAL) as vulnerable investments in the near term. American Airlines One of the stocks that didn't go my way last week was American Airlines. If you're looking for safe stocks, you aren't likely to find them in Bed Bath & Beyond, Robinhood Markets, and American Airlines this week.
|
This week I see Bed Bath & Beyond (NASDAQ: BBBY), Robinhood Markets (NASDAQ: HOOD), and American Airlines Group (NASDAQ: AAL) as vulnerable investments in the near term. Even more problematic is that Dogecoin (CRYPTO: DOGE) was the most popular trade on Robinhood in the second quarter, and volume on that crypto has fallen by roughly 75% this quarter. American Airlines One of the stocks that didn't go my way last week was American Airlines.
|
4171.0
|
2021-09-27 00:00:00 UTC
|
EXCLUSIVE-Canada to lure U.S. frequent flyers by matching travel perks on Air Canada
|
AAL
|
https://www.nasdaq.com/articles/exclusive-canada-to-lure-u.s.-frequent-flyers-by-matching-travel-perks-on-air-canada-2021
|
nan
|
nan
|
By Allison Lampert
MONTREAL, Sept 27 (Reuters) - Canada is trying to use the lure of travel perks to convince America's frequent flying elite to fly north on Air Canada AC.TO, as the country steps up efforts to revive crucial traffic from the United States, a Canadian official told Reuters.
COVID-19 has battered travel from Canada's largest tourism market. During the first half of 2021, Canada had about 178,000 overnight arrivals from the United States, compared with 6.8 million during the same period in 2019, according to government data.
To help reverse that decline, government tourism body, Destination Canada will, roll out on Monday its first campaign targeting U.S. frequent fliers.
It is part of broader, C$14 million ($11.2 million) efforts by the tourism commission to boost traffic after Canada recently opened its borders to vaccinated travellers. It is not clear how much the specific frequent flyer campaign will cost.
"This is super-focused in terms of our ability to reach frequent fliers," said Gloria Loree, Destination Canada's chief marketing officer ahead of the launch.
Under the plan, up to 20,000 U.S. frequent flyers with carriers like American Airlines AAL.O, Southwest Airlines Co LUV.N, and Delta Air Lines DAL.N could get matching status when flying Air Canada north of the border.
It is not clear how U.S. carriers would react to the plan, although Loree said the possibility of airline retaliation had been considered.
Frequent-flyer status gives travelers perks like priority boarding that would normally cost a premium fare or a fee.
While global airline alliances offer status-matching to passengers from their member carriers, having a destination sponsor such a plan is highly unusual, said Mark-Ross Smith, chief executive of Status Match, which handles logistics for the Canadian project.
"This is the push to get them coming to Canada."
Eligible U.S. frequent flyers who book and travel north on AC before Jan. 15, 2022 will keep their status with the carrier for all of 2022, she said.
It comes as countries ease restrictions on international travel, with the United States set to reopen in November to vaccinated air travelers from 33 countries.
She argued boosting cross-border travel will help both countries.
Loree said funding frequent-flyer status matching is no different from other incentives paid for by Destination Canada, such as a separate campaign this year with Air Canada's rival WestJet Airlines.
Loree said the goal is to restore routes from the United States, while trying to attract travelers who will return to Canada.
In April, hard-hit Air Canada received an estimated C$5.9 billion government aid package with the country gaining a roughly 6% stake in the carrier.
While Canada's high vaccination rate could lure tourists, the cost of the country's PCR test requirements for arrivals could dissuade some travelers, said Frederic Dimanche, director of the Ted Rogers School of Hospitality and Tourism Management at Ryerson University.
Loree said targeting U.S. frequent fliers is a plus because they are largely accustomed to those requirements.
"They've figured out how to travel," Loree said. "So we want them to consider Canada as their next trip."
($1 = 1.2652 Canadian dollars)
(Reporting By Allison Lampert in Montreal Editing by Denny Thomas and Lisa Shumaker)
((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.
|
Under the plan, up to 20,000 U.S. frequent flyers with carriers like American Airlines AAL.O, Southwest Airlines Co LUV.N, and Delta Air Lines DAL.N could get matching status when flying Air Canada north of the border. While global airline alliances offer status-matching to passengers from their member carriers, having a destination sponsor such a plan is highly unusual, said Mark-Ross Smith, chief executive of Status Match, which handles logistics for the Canadian project. In April, hard-hit Air Canada received an estimated C$5.9 billion government aid package with the country gaining a roughly 6% stake in the carrier.
|
Under the plan, up to 20,000 U.S. frequent flyers with carriers like American Airlines AAL.O, Southwest Airlines Co LUV.N, and Delta Air Lines DAL.N could get matching status when flying Air Canada north of the border. By Allison Lampert MONTREAL, Sept 27 (Reuters) - Canada is trying to use the lure of travel perks to convince America's frequent flying elite to fly north on Air Canada AC.TO, as the country steps up efforts to revive crucial traffic from the United States, a Canadian official told Reuters. "This is super-focused in terms of our ability to reach frequent fliers," said Gloria Loree, Destination Canada's chief marketing officer ahead of the launch.
|
Under the plan, up to 20,000 U.S. frequent flyers with carriers like American Airlines AAL.O, Southwest Airlines Co LUV.N, and Delta Air Lines DAL.N could get matching status when flying Air Canada north of the border. By Allison Lampert MONTREAL, Sept 27 (Reuters) - Canada is trying to use the lure of travel perks to convince America's frequent flying elite to fly north on Air Canada AC.TO, as the country steps up efforts to revive crucial traffic from the United States, a Canadian official told Reuters. Loree said funding frequent-flyer status matching is no different from other incentives paid for by Destination Canada, such as a separate campaign this year with Air Canada's rival WestJet Airlines.
|
Under the plan, up to 20,000 U.S. frequent flyers with carriers like American Airlines AAL.O, Southwest Airlines Co LUV.N, and Delta Air Lines DAL.N could get matching status when flying Air Canada north of the border. It is not clear how much the specific frequent flyer campaign will cost. Loree said the goal is to restore routes from the United States, while trying to attract travelers who will return to Canada.
|
4172.0
|
2021-09-24 00:00:00 UTC
|
DOJ Challenges JetBlue-American Airlines Alliance
|
AAL
|
https://www.nasdaq.com/articles/doj-challenges-jetblue-american-airlines-alliance-2021-09-24
|
nan
|
nan
|
Last year, American Airlines (NASDAQ: AAL) and JetBlue Airways (NASDAQ: JBLU) announced a unique agreement to cooperate in the New York and Boston markets in order to compete more effectively with key rivals Delta Air Lines (NYSE: DAL) and United Airlines.
The U.S. Department of Transportation approved the arrangement (with certain conditions) in January. As a result, American and JetBlue have begun to implement their new partnership this year. However, on Tuesday, the U.S. Department of Justice and several states sued American Airlines and JetBlue on antitrust grounds. Let's see what this development means for both airlines.
What the alliance does
Today, Delta Air Lines and United Airlines dominate the New York market. While JetBlue has a base at JFK International Airport and American has small hubs at JFK and LaGuardia Airports, neither airline has nearly as many slots as Delta or United. That makes it difficult to compete. For example, American Airlines can't offer enough connecting flight options to offer a wide slate of international flights from New York. Meanwhile, significant holes in JetBlue's route network make it hard for the carrier to compete for corporate contracts.
In Boston, JetBlue is the market leader, with a 33% share of domestic traffic in 2019. But even there, Delta has been able to gain market share -- particularly among business travelers -- by complementing its nonstop offerings with a broad domestic and global route network that offers plentiful connecting opportunities. American has struggled even more, steadily losing share to both Delta and JetBlue.
Image source: JetBlue Airways.
The Northeast Alliance calls for American Airlines and JetBlue to coordinate route planning and scheduling (but not fares) and codeshare on a wide array of routes touching New York and Boston. Additionally, they are offering reciprocal frequent-flyer benefits to encourage customers to fly both airlines. Finally, American is giving JetBlue access to numerous slots at LaGuardia and JFK that it has struggled to use productively and profitably, enabling JetBlue to expand there.
To align their financial incentives, JetBlue and American Airlines will pool their revenues in the markets covered by the alliance, such that each airline earns the same revenue no matter which of the two airlines operates a customer's flight.
The DOJ objects
This week, the DOJ and several states sued American and JetBlue. They allege that the new Northeast Alliance is anticompetitive (in violation of the Sherman Antitrust Act) and want to unwind it. The federal government and states believe the agreement essentially removes JetBlue as an aggressive, independent low-fare carrier that imposes price discipline on rivals.
Specifically, the complaint argues that while JetBlue and American have agreed not to talk to each other about pricing, they can still boost fares by coordinating to reduce the number of seats they offer. The DOJ highlights 11 nonstop markets from Boston, 17 nonstop markets from New York, and 98 connecting markets where a hypothetical JetBlue-American Airlines combination would significantly increase market concentration, making it "presumptively anticompetitive."
Image source: American Airlines.
Top DOJ antitrust lawyers have met with JetBlue and American Airlines officials, according to The Wall Street Journal, but they were unable to reach an agreement that would avoid litigation.
A shaky case
Not surprisingly, American Airlines and JetBlue executives have forcefully defended the Northeast Alliance. JetBlue said it plans to add roughly 100 daily roundtrips from the three major New York airports relative to 2019. Most of that growth would have been impossible without the American Airlines alliance due to slot and gate constraints. It also intends to add dozens of new flights in Boston.
For its part, American Airlines noted that the alliance partners have already added 58 new routes and increased service on more than 130 others. CEO Doug Parker also highlighted the inability of either American or JetBlue to compete effectively with Delta and United in New York on a stand-alone basis.
Indeed, the antitrust case against the Northeast Alliance rests on shaky ground. While the arrangement would lead to less competition on certain routes, it will increase competition on many others, due to JetBlue's expansion plans and American's international growth. The DOJ argues that the airlines could grow without a revenue-sharing alliance -- but doesn't make a convincing argument that they would actually do so.
Image source: American Airlines and JetBlue Airways.
The complaint also underestimates other airlines' ability to insert new competition into markets where JetBlue and American Airlines might reduce capacity. Finally, recent history doesn't support the DOJ's contention that the alliance will have a chilling effect on competition. Over the past year, JetBlue has launched flights to Miami and expanded dramatically in Los Angeles, both of which are American Airlines hubs.
What does it mean for investors?
Although the DOJ faces an uphill climb to prove that the Northeast Alliance is illegal, investors must nevertheless prepare for the possibility that American and JetBlue will lose in court. The airlines also might offer new concessions to settle the case.
If the government successfully blocks the alliance, it will disproportionately hurt American Airlines. JetBlue would miss out on growth opportunities in New York and it would have to fight harder for customers, but the carrier would be able to continue its organic growth in Boston.
By contrast, without the JetBlue deal, debt-laden American Airlines will face an unappealing choice between shrinking further in key Northeast markets and ramping up service on routes where it is unlikely to make money. Thus, American has much more at stake in this fight.
10 stocks we like better than JetBlue Airways
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 JetBlue Airways 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 September 17, 2021
Adam Levine-Weinberg owns shares of Delta Air Lines and JetBlue Airways. The Motley Fool recommends 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.
|
Last year, American Airlines (NASDAQ: AAL) and JetBlue Airways (NASDAQ: JBLU) announced a unique agreement to cooperate in the New York and Boston markets in order to compete more effectively with key rivals Delta Air Lines (NYSE: DAL) and United Airlines. Specifically, the complaint argues that while JetBlue and American have agreed not to talk to each other about pricing, they can still boost fares by coordinating to reduce the number of seats they offer. Top DOJ antitrust lawyers have met with JetBlue and American Airlines officials, according to The Wall Street Journal, but they were unable to reach an agreement that would avoid litigation.
|
Last year, American Airlines (NASDAQ: AAL) and JetBlue Airways (NASDAQ: JBLU) announced a unique agreement to cooperate in the New York and Boston markets in order to compete more effectively with key rivals Delta Air Lines (NYSE: DAL) and United Airlines. For example, American Airlines can't offer enough connecting flight options to offer a wide slate of international flights from New York. The DOJ highlights 11 nonstop markets from Boston, 17 nonstop markets from New York, and 98 connecting markets where a hypothetical JetBlue-American Airlines combination would significantly increase market concentration, making it "presumptively anticompetitive."
|
Last year, American Airlines (NASDAQ: AAL) and JetBlue Airways (NASDAQ: JBLU) announced a unique agreement to cooperate in the New York and Boston markets in order to compete more effectively with key rivals Delta Air Lines (NYSE: DAL) and United Airlines. To align their financial incentives, JetBlue and American Airlines will pool their revenues in the markets covered by the alliance, such that each airline earns the same revenue no matter which of the two airlines operates a customer's flight. The complaint also underestimates other airlines' ability to insert new competition into markets where JetBlue and American Airlines might reduce capacity.
|
Last year, American Airlines (NASDAQ: AAL) and JetBlue Airways (NASDAQ: JBLU) announced a unique agreement to cooperate in the New York and Boston markets in order to compete more effectively with key rivals Delta Air Lines (NYSE: DAL) and United Airlines. For example, American Airlines can't offer enough connecting flight options to offer a wide slate of international flights from New York. The DOJ objects This week, the DOJ and several states sued American and JetBlue.
|
4173.0
|
2021-09-23 00:00:00 UTC
|
Why Investors Were Excited Even Though Airline Stocks Lowered Guidance
|
AAL
|
https://www.nasdaq.com/articles/why-investors-were-excited-even-though-airline-stocks-lowered-guidance-2021-09-23
|
nan
|
nan
|
On Sept. 9, United Airlines (NASDAQ: UAL) revised its financial guidance down for the upcoming quarter. It didn't take long for other airlines to follow. Yet these stocks popped when that happened. What's going on?
In this video from Backstage Pass, recorded on Sept. 9, Motley Fool contributor Lou Whiteman talks with fellow contributor Jason Hall, breaking down all of what's going on in the airline industry right now as well as what the market might be thinking.
10 stocks we like better than Spirit Airlines
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 Spirit Airlines 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 August 9, 2021
Lou Whiteman: I'm about to talk about an industry that reported bad news and saw the stocks awarded as a result. Then, later, we'll talk about a company that beat and did great, and its stock was off like 10%, because nothing matters anymore. But let's talk about the airlines.
The airlines have already gotten through second-quarter earnings, including the ones in our Fool universe. That's Delta (NYSE: DAL), Spirit (NYSE: SAVE), JetBlue (NASDAQ: JBLU), Southwest (NYSE: LUV). There's a bunch of them, actually, around Fool services, but the airlines are now looking ahead to the third quarter. United Airlines this morning put out revised guidance, and within an hour, three other airlines had followed up with their own, and it was basically the same thing.
United had said they were going to be profitable in the third quarter, which would been the first time they were profitable since COVID hit -- not so fast anymore. The others -- Southwest, American, and JetBlue -- all chimed in. They all said the same thing, that revenue is going to go down because of the delta variant and the uptick in cases.
In United's case, revenue will be down about 33% from two years ago, pre-COVID, same quarter. American lowered its forecast, I think a decline of like 24% to 28%, from 20%. JetBlue said, smaller base, but they were guiding 4% to 9% down. Now they're saying 6% to 9% And as a result, the stocks were all up. At point I think the entire sector is up more than 5%, gave back some of that.
What's going on here? For one, I don't think a single investor woke up this morning, read United's thing, and found out the delta variant is in the air and the cases were spiking. I think that there has been some inevitability of this coming, and to be honest, it wasn't necessarily as bad as some had feared. United did say, too, that, look, things were going pretty darn well in early July and into July. I think investors are reading that into, maybe, if this is just a temporary spike, the airlines have figured out a way to operate in this environment, which would be a real plus.
The other thing, of course, is the White House today said that all federal workers and millions of government contractors have to be vaccinated against COVID-19. They will not even allow the weekly testing. I don't think we're really bullish on government workers flying, but I think that the government normalizing this is going to go a long way toward other employers following through. The quickest, simplest way out of the pandemic is a vaccinated populace, and we're not going to see airlines fully recovered until we have a vaccinated population.
We're in a weird moment now. They have basically said things are going to stink in the third quarter, but they're not going to be as bad as you might have feared. On today's vote, at least, that is bullish. I don't think this is now the time to buy in on this. I think most employers, some of them, are into 2022 before they're going to come back, and you're not going to see business travel come back when people aren't even in the office. For American, for United to a lesser extent Delta, they are going to need business travel back for them to come all the way back. International travel is still a mess. Look at what Europe did the other day; it restricted U.S. tourists.
If you're invested in any of these stocks in particular, I'd say Delta or Southwest, I would definitely sit tight. I think you're fine, but this isn't the end of the story, and I think the real takeaway here, forget today's little spike. What we learned today from United was this is a reminder that we're not done by a long shot, and that we're still talking 20% to 30% revenue declines over pre-pandemic. It's going to be the second half of this decade before this industry is totally back. If you have a long enough time horizon and you bought in last year, when they were down 80% -- I personally am holding tight. I don't see a problem with that. I don't think COVID can ground these airlines, and I think we've seen that, but I also don't think I would rally in or sell out on the third quarter. I think what we've learned now is the third quarter is a loss and the fourth quarter, unless people decide to go see grandma on Christmas, isn't going to be much better. There's still a not a lot of excitement about the airlines right now.
Jason Hall: In the Foolish universe, JetBlue and Southwest are still active recommendations in a couple of services. I think Spirit was at one point, but it's no longer. But I think if you're interested in this, you focus on the strong companies that are well capitalized and they know how to run their operations through this environment and not get to a point where they are in serious financial trouble.
Whiteman: Yeah. Spirit, I think, actually is the one trade here now, because they've had this miserable summer. The nature of their business is they are going to get a lot of the tourist dollars, and quite frankly, their costs are lower than Southwest. If there's a race to the bottom, which I think the next few months are going to be leading up to Thanksgiving, they can win the price wars even over Southwest. I actually can see them normalizing pretty quickly as the schedule gets right.
Southwest, I think, is much better among the recommendations just for the near term than JetBlue. JetBlue does best when the economy is soaring. JetBlue's bread and butter is that Mint product, which is a wonderful product. It's a premium class. It's a lot better most first classes. That tends to sell best either when business people are flying or when tourists feel flush. If this is more of a price-sensitive environment, JetBlue will be fine, but they're not built to play by the rules of the next few months. I think.
Just bear that in mind, too, especially if you're an investor in there right now. It's still a well-run company, even if the next few months aren't really playing on its home turf. If that makes sense.
Jason Hall owns shares of Southwest Airlines. Jon Quast has no position in any of the stocks mentioned. 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.
|
For one, I don't think a single investor woke up this morning, read United's thing, and found out the delta variant is in the air and the cases were spiking. The other thing, of course, is the White House today said that all federal workers and millions of government contractors have to be vaccinated against COVID-19. But I think if you're interested in this, you focus on the strong companies that are well capitalized and they know how to run their operations through this environment and not get to a point where they are in serious financial trouble.
|
In this video from Backstage Pass, recorded on Sept. 9, Motley Fool contributor Lou Whiteman talks with fellow contributor Jason Hall, breaking down all of what's going on in the airline industry right now as well as what the market might be thinking. Lou Whiteman owns shares of Delta Air Lines and Spirit Airlines. The Motley Fool recommends Delta Air Lines, JetBlue Airways, and Southwest Airlines.
|
* They just revealed what they believe are the ten best stocks for investors to buy right now... and Spirit Airlines wasn't one of them! I don't think COVID can ground these airlines, and I think we've seen that, but I also don't think I would rally in or sell out on the third quarter. The Motley Fool recommends Delta Air Lines, JetBlue Airways, and Southwest Airlines.
|
* They just revealed what they believe are the ten best stocks for investors to buy right now... and Spirit Airlines wasn't one of them! See the 10 stocks *Stock Advisor returns as of August 9, 2021 Lou Whiteman: I'm about to talk about an industry that reported bad news and saw the stocks awarded as a result. The Motley Fool owns shares of and recommends Spirit Airlines.
|
4174.0
|
2021-09-22 00:00:00 UTC
|
Good News for Airlines: The U.S. Will Open to More Foreign Visitors
|
AAL
|
https://www.nasdaq.com/articles/good-news-for-airlines%3A-the-u.s.-will-open-to-more-foreign-visitors-2021-09-22
|
nan
|
nan
|
Since early 2020, the federal government has maintained a ban on international travel to the U.S. affecting billions of foreigners. Naturally, these restrictions have drastically crimped demand for international travel to and from the U.S., hurting airlines like Delta Air Lines (NYSE: DAL), United Airlines (NASDAQ: UAL), and American Airlines (NASDAQ: AAL).
However, the U.S. is finally ready to relax these restrictions. That's great news for U.S. airlines with significant long-haul international operations.
Major travel restrictions remain in effect
As the COVID-19 pandemic spiraled out of control in 2020, the Trump Administration implemented severe restrictions on travel to the U.S. from 33 countries, accounting for a wide swath of the world (including China, India, Brazil, and most of Europe). The Biden Administration left those restrictions in place when it took office earlier this year.
Under current regulations, even fully vaccinated individuals (other than U.S. citizens and people qualifying for certain other exceptions) may not enter the U.S. if they have been in any of these 33 countries within the past 14 days.
Image source: Getty Images.
While most of Europe began allowing U.S. tourists to visit this summer, the U.S. didn't loosen its own regulations. The lack of reciprocity angered European leaders, particularly given that the novel coronavirus (especially the Delta variant) was already circulating widely in the U.S. this summer. Airline executives also protested the ongoing restrictions as being arbitrary and unscientific.
Relaxing the rules
On Monday, the Biden Administration confirmed that it will ease its travel restrictions later this year. Beginning in early November, fully vaccinated individuals will be able to travel to the U.S. by air -- even for non-essential purposes -- as long as they show proof of vaccination before boarding and provide a negative coronavirus test within three days of arrival in the U.S.
The new rules will potentially unlock a flood of international travel demand, particularly from Europe, where vaccination rates tend to be quite high. (To be fair, unvaccinated travelers from countries not covered by the current travel restrictions will no longer be able to visit the U.S. -- but the net effect will still be a significant increase in air travel demand.)
Naturally, this move represents a boon for the likes of Delta, American, and United. While the reopening of Europe to vaccinated Americans for tourism boosted transatlantic demand this summer, international travel demand as a whole remains far below pre-pandemic levels. As a result, the network airlines are struggling to utilize their pricey wide-body jet fleets productively.
Image source: Delta Air Lines.
Come November, Delta Air Lines, American Airlines, and United Airlines are poised to benefit from pent-up demand for visiting friends and relatives in the U.S., leisure travel, and even long-postponed international business travel. To be sure, demand won't return to 2019 levels immediately. However, full-service airlines would be able to resume many international flights that can't even break even today.
Much-needed good news
Airlines haven't gotten much good news recently. Oil prices have surged, erasing much of the cost savings they had enjoyed last year. Meanwhile, the end of the summer travel season and the spread of the Delta variant have combined to undermine the recovery in domestic air travel demand. Many businesses have postponed plans to reopen their offices, further delaying any recovery in business travel.
As a result, airlines (including American, Delta, and United) have reduced their Q3 revenue and earnings forecasts across the board. Many have warned that the outlook for the fourth quarter is worsening, too.
A reopening of the U.S. to vaccinated foreigners from major markets like Europe could help restart the recovery process. And if a recent decline in U.S. COVID-19 case counts and hospitalizations continues, most U.S. airlines could realistically return to consistent profitability in 2022.
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 September 17, 2021
Adam Levine-Weinberg owns shares of Delta Air Lines. 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.
|
Naturally, these restrictions have drastically crimped demand for international travel to and from the U.S., hurting airlines like Delta Air Lines (NYSE: DAL), United Airlines (NASDAQ: UAL), and American Airlines (NASDAQ: AAL). Under current regulations, even fully vaccinated individuals (other than U.S. citizens and people qualifying for certain other exceptions) may not enter the U.S. if they have been in any of these 33 countries within the past 14 days. The new rules will potentially unlock a flood of international travel demand, particularly from Europe, where vaccination rates tend to be quite high.
|
Naturally, these restrictions have drastically crimped demand for international travel to and from the U.S., hurting airlines like Delta Air Lines (NYSE: DAL), United Airlines (NASDAQ: UAL), and American Airlines (NASDAQ: AAL). Come November, Delta Air Lines, American Airlines, and United Airlines are poised to benefit from pent-up demand for visiting friends and relatives in the U.S., leisure travel, and even long-postponed international business travel. As a result, airlines (including American, Delta, and United) have reduced their Q3 revenue and earnings forecasts across the board.
|
Naturally, these restrictions have drastically crimped demand for international travel to and from the U.S., hurting airlines like Delta Air Lines (NYSE: DAL), United Airlines (NASDAQ: UAL), and American Airlines (NASDAQ: AAL). (To be fair, unvaccinated travelers from countries not covered by the current travel restrictions will no longer be able to visit the U.S. -- but the net effect will still be a significant increase in air travel demand.) Come November, Delta Air Lines, American Airlines, and United Airlines are poised to benefit from pent-up demand for visiting friends and relatives in the U.S., leisure travel, and even long-postponed international business travel.
|
Naturally, these restrictions have drastically crimped demand for international travel to and from the U.S., hurting airlines like Delta Air Lines (NYSE: DAL), United Airlines (NASDAQ: UAL), and American Airlines (NASDAQ: AAL). While the reopening of Europe to vaccinated Americans for tourism boosted transatlantic demand this summer, international travel demand as a whole remains far below pre-pandemic levels. Come November, Delta Air Lines, American Airlines, and United Airlines are poised to benefit from pent-up demand for visiting friends and relatives in the U.S., leisure travel, and even long-postponed international business travel.
|
4175.0
|
2021-09-22 00:00:00 UTC
|
American Airlines Says DOJ's Antitrust Complaint On Northeast Alliance Without Merit - Quick Facts
|
AAL
|
https://www.nasdaq.com/articles/american-airlines-says-dojs-antitrust-complaint-on-northeast-alliance-without-merit-quick
|
nan
|
nan
|
(RTTNews) - American Airlines Group Inc. (AAL) said in a filing with the U.S. SEC on Wednesday that the antitrust complaint filed by the U.S Department of Justice (DoJ) and Attorneys General from six states and the District of Columbia is without merit and will defend itself vigorously.
The complaint was filed against American Airlines and JetBlue Airways Corp. (JBLU), alleging violation of U.S. antitrust laws in connection with the previously disclosed Northeast Alliance (NEA) arrangement.
American noted that the U.S. Department of Transportation (DOT) published a Clarification Notice relating to the agreement that had been reached between the DOT, American, and JetBlue in January 2021, at the conclusion of DoT's review of the NEA.
The DOT Clarification Notice stated, among other things, that the NEA remains in force during the pendency of the DoJ action and, while the DOT retains independent statutory authority to prohibit unfair methods of competition in air transportation, the DOT intends to defer to DoJ to resolve the antitrust concerns that DoJ has identified with respect to the NEA.
DOT simultaneously published a Notice Staying Proceeding in relation to a complaint by Spirit Airlines, Inc. regarding the NEA, pending resolution of the DoJ action.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
(RTTNews) - American Airlines Group Inc. (AAL) said in a filing with the U.S. SEC on Wednesday that the antitrust complaint filed by the U.S Department of Justice (DoJ) and Attorneys General from six states and the District of Columbia is without merit and will defend itself vigorously. The complaint was filed against American Airlines and JetBlue Airways Corp. (JBLU), alleging violation of U.S. antitrust laws in connection with the previously disclosed Northeast Alliance (NEA) arrangement. DOT simultaneously published a Notice Staying Proceeding in relation to a complaint by Spirit Airlines, Inc. regarding the NEA, pending resolution of the DoJ action.
|
(RTTNews) - American Airlines Group Inc. (AAL) said in a filing with the U.S. SEC on Wednesday that the antitrust complaint filed by the U.S Department of Justice (DoJ) and Attorneys General from six states and the District of Columbia is without merit and will defend itself vigorously. The complaint was filed against American Airlines and JetBlue Airways Corp. (JBLU), alleging violation of U.S. antitrust laws in connection with the previously disclosed Northeast Alliance (NEA) arrangement. American noted that the U.S. Department of Transportation (DOT) published a Clarification Notice relating to the agreement that had been reached between the DOT, American, and JetBlue in January 2021, at the conclusion of DoT's review of the NEA.
|
(RTTNews) - American Airlines Group Inc. (AAL) said in a filing with the U.S. SEC on Wednesday that the antitrust complaint filed by the U.S Department of Justice (DoJ) and Attorneys General from six states and the District of Columbia is without merit and will defend itself vigorously. American noted that the U.S. Department of Transportation (DOT) published a Clarification Notice relating to the agreement that had been reached between the DOT, American, and JetBlue in January 2021, at the conclusion of DoT's review of the NEA. The DOT Clarification Notice stated, among other things, that the NEA remains in force during the pendency of the DoJ action and, while the DOT retains independent statutory authority to prohibit unfair methods of competition in air transportation, the DOT intends to defer to DoJ to resolve the antitrust concerns that DoJ has identified with respect to the NEA.
|
(RTTNews) - American Airlines Group Inc. (AAL) said in a filing with the U.S. SEC on Wednesday that the antitrust complaint filed by the U.S Department of Justice (DoJ) and Attorneys General from six states and the District of Columbia is without merit and will defend itself vigorously. The complaint was filed against American Airlines and JetBlue Airways Corp. (JBLU), alleging violation of U.S. antitrust laws in connection with the previously disclosed Northeast Alliance (NEA) arrangement. American noted that the U.S. Department of Transportation (DOT) published a Clarification Notice relating to the agreement that had been reached between the DOT, American, and JetBlue in January 2021, at the conclusion of DoT's review of the NEA.
|
4176.0
|
2021-09-22 00:00:00 UTC
|
Why Delta Might Be the Best Airline Stock to Buy Right Now
|
AAL
|
https://www.nasdaq.com/articles/why-delta-might-be-the-best-airline-stock-to-buy-right-now-2021-09-22
|
nan
|
nan
|
As a whole, airline stocks fell dramatically in 2020 as the COVID-19 pandemic shut down the industry. If you look at the price per share among many airline stocks, most of them look like they're still way down from where they were prior to the pandemic. But in reality, Delta Air Lines (NYSE: DAL) might be the only airline stock that still trades at a relatively low price.
In this video from Motley Fool Backstage Pass, recorded on Sept. 9, Fool contributors Jason Hall and Lou Whiteman explain the difference between a company's market capitalization and its enterprise value -- and why this makes Delta stock look like a deal today.
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 August 9, 2021
Jason Hall: I'm going to share a chart here. I want to talk about this just for a little touch longer because I think one of the things that investors will do is they'll look at a chart like this and you see the share prices of these businesses, we saw that run-up basically from the COVID lows to late winter before we saw a lot of these stocks sell off. But you look at that and you go back three years to the back in the normal world and the stocks are all down by double-digits and some are down by half. Lou, give us some context here on-
Lou Whiteman: I'm curious for one thing, add Delta. Secondly, change that from price to enterprise value.
Hall: This is the conversation I wanted to have.
Whiteman: Suddenly, Spirit is almost treading water where they are. What this is showing, Fools, and I think probably most of that, but enterprise value is market cap plus debt. This is a reminder of how much debt this industry took one in the last year.
Hall: There you go.
Whiteman: Yeah.
Hall: There you go. This is what's changed. The share prices have fallen with their balance sheets because they've had to take on so much debt, have drastically changed their capital structure.
Whiteman: Now, mind you go back to enterprise value and let's say, because I will tell you the one that constantly stands out to me when I look at this is Delta. Because in my mind, Delta prior to the pandemic was bordering with Southwest for the best-run airline in the business. In some ways, over the last five years have been a better-run airline than Southwest, and it still trades as a legacy carrier in that "these bumbling idiots don't know what they are doing" talk from the '80s and '90s.
I don't know if that's a recommendation because I think it's a long road back for all of them. Delta does need international and they need business. But I don't think people fully appreciated the power of Delta's management team prior to the pandemic and I think the fact that on an enterprise-value basis, it is still beaten down and Southwest isn't, that speaks to me in terms of relative value at this moment, if you did want to buy an airline stock.
Hall: I can tell you anecdotally, for whatever it's worth, we've done some travel with our planned relocation coming up and we've traveled with Delta. I have to say my experience with the professional -- of their staff, of attitudes on the planes, just how well they treat every single customer. I was very impressed.
Whiteman: One of the things they've done well, too, is that they have decided and it took the whole industry way too long. But they more than say, an American right now, have decided the game isn't to get as many passengers as you can. The game is to do it profitably and sustainably. They kept their middle seats open for much longer than anyone else in the industry in part because they wanted to differentiate themselves at the cost of near-term revenue.
That's the world they are operating in right now. I think the world of this management team, I think a lot of that remember, you're dealing with mostly non-union employees, which is a real different thing from the rest of the industry. There is a different mindset to Delta than there is even with Southwest and some of the other companies right now, it can be fleeting. Cultures are very dangerous thing, especially in this industry.
Seeing the way they have been treated by the market relative to what the company, I think it is long term, I think Delta is a very intriguing stock in a very bad sector.
Jason Hall owns shares of Southwest Airlines. Jon Quast has no position in any of the stocks mentioned. 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 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.
|
But in reality, Delta Air Lines (NYSE: DAL) might be the only airline stock that still trades at a relatively low price. I want to talk about this just for a little touch longer because I think one of the things that investors will do is they'll look at a chart like this and you see the share prices of these businesses, we saw that run-up basically from the COVID lows to late winter before we saw a lot of these stocks sell off. I think the world of this management team, I think a lot of that remember, you're dealing with mostly non-union employees, which is a real different thing from the rest of the industry.
|
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 and Southwest Airlines.
|
In this video from Motley Fool Backstage Pass, recorded on Sept. 9, Fool contributors Jason Hall and Lou Whiteman explain the difference between a company's market capitalization and its enterprise value -- and why this makes Delta stock look like a deal today. But I don't think people fully appreciated the power of Delta's management team prior to the pandemic and I think the fact that on an enterprise-value basis, it is still beaten down and Southwest isn't, that speaks to me in terms of relative value at this moment, if you did want to buy an airline stock. Lou Whiteman owns shares of Delta Air Lines and Spirit Airlines.
|
In this video from Motley Fool Backstage Pass, recorded on Sept. 9, Fool contributors Jason Hall and Lou Whiteman explain the difference between a company's market capitalization and its enterprise value -- and why this makes Delta stock look like a deal today. Whiteman: One of the things they've done well, too, is that they have decided and it took the whole industry way too long. The Motley Fool recommends Delta Air Lines and Southwest Airlines.
|
4177.0
|
2021-09-22 00:00:00 UTC
|
Is JetBlue Airways Stock Poised For Sizable Returns?
|
AAL
|
https://www.nasdaq.com/articles/is-jetblue-airways-stock-poised-for-sizable-returns-2021-09-22
|
nan
|
nan
|
The shares of JetBlue Airways (NASDAQ: JBLU) have trended downward due to fears of sluggish travel & tourism demand in the near term. The fourth wave of the pandemic has caused uncertainty surrounding the timeline for a complete recovery of passenger numbers, but long-term trends look favorable. Moreover, the third round of payroll support is assisting employee salaries through September 30 – limiting operating losses even during the fourth wave. Notably, passenger numbers at TSA checkpoints have remained fairly stable in the past few weeks – pinning hopes of a quick recovery as infections decline. Also, the company incurred just $683 million of operating cash burn last year, much lower than the $2 billion drop in market capitalization since February 2020.
But how would these numbers change if you are interested in holding JetBlue Airways stock for a shorter or a longer time period? You can test the answer and many other combinations on the Trefis Machine Learning Engine to test JetBlue Airways stock expected return after a fall. You can test the chance of recovery over different time intervals of a quarter, month, or even just one day!
MACHINE LEARNING ENGINE – try it yourself:
IF JBLU stock moved by -5% over 5 trading days, THEN over the next twenty-one trading days, JBLU stock moves an average of 4 .5 percent, with a 60.7% probability of a positive return
Also, given a -5% movement for the stock over five trading days, it has historically witnessed an excess return of 2.4% compared to the S&P500 over the next 21 trading days, with a 51% percent probability of a positive excess return.
Some Fun Scenarios, FAQs & Making Sense of JetBlue Airways Stock Movements:
Question 1: Is the average return for JetBlue Airways stock higher after a drop?
Answer: Consider two situations,
Case 1: JetBlue Airways stock drops by -5% or more in a week
Case 2: JetBlue Airways stock rises by 5% or more in a week
Is the expected return for JetBlue Airways stock higher over the subsequent month after Case 1 or Case 2?
JBLU stock fares better after Case 1, with an expected return of 4.5% over the next month (21 trading days) under Case 1 (where the stock has just suffered a 5% loss over the previous week), versus, an expected return of 1.8% for Case 2.
In comparison, the S&P 500 has an expected return of 3.1% over the next 21 trading days under Case 1, and an expected return of just 0.5% for Case 2 as detailed in our dashboard that details the expected return for the S&P 500 after a rise or drop.
Try the Trefis machine learning engine above to see for yourself how JetBlue Airways stock is likely to behave after any specific gain or loss over a period.
Question 2: Does patience pay?
Answer:
If you buy and hold JetBlue Airways stock, the expectation is over time the near-term fluctuations will cancel out, and the long-term positive trend will favor you – at least if the company is otherwise strong.
Overall, according to data and Trefis machine learning engine’s calculations, patience absolutely pays for most stocks!
For JBLU stock, the returns over the next N days after a -5% change over the last five trading days is detailed in the table below, along with the returns for the S&P500:
Question 3: What about the average return after a rise if you wait for a while?
Answer:
The expected return after a rise is understandably lower than after a drop as detailed in the previous question. Interestingly, though, if a stock has gained over the last few days, you would do better to avoid short-term bets for most stocks.
JBLU’s returns over the next N days after a 5% change over the last five trading days is detailed in the table below, along with the returns for the S&P500:
It’s pretty powerful to test the trend for yourself for JetBlue Airways stock by changing the inputs in the charts above.
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.
|
The shares of JetBlue Airways (NASDAQ: JBLU) have trended downward due to fears of sluggish travel & tourism demand in the near term. Notably, passenger numbers at TSA checkpoints have remained fairly stable in the past few weeks – pinning hopes of a quick recovery as infections decline. Answer: If you buy and hold JetBlue Airways stock, the expectation is over time the near-term fluctuations will cancel out, and the long-term positive trend will favor you – at least if the company is otherwise strong.
|
You can test the answer and many other combinations on the Trefis Machine Learning Engine to test JetBlue Airways stock expected return after a fall. MACHINE LEARNING ENGINE – try it yourself: IF JBLU stock moved by -5% over 5 trading days, THEN over the next twenty-one trading days, JBLU stock moves an average of 4 .5 percent, with a 60.7% probability of a positive return Also, given a -5% movement for the stock over five trading days, it has historically witnessed an excess return of 2.4% compared to the S&P500 over the next 21 trading days, with a 51% percent probability of a positive excess return. Some Fun Scenarios, FAQs & Making Sense of JetBlue Airways Stock Movements: Question 1: Is the average return for JetBlue Airways stock higher after a drop?
|
MACHINE LEARNING ENGINE – try it yourself: IF JBLU stock moved by -5% over 5 trading days, THEN over the next twenty-one trading days, JBLU stock moves an average of 4 .5 percent, with a 60.7% probability of a positive return Also, given a -5% movement for the stock over five trading days, it has historically witnessed an excess return of 2.4% compared to the S&P500 over the next 21 trading days, with a 51% percent probability of a positive excess return. Answer: Consider two situations, Case 1: JetBlue Airways stock drops by -5% or more in a week Case 2: JetBlue Airways stock rises by 5% or more in a week Is the expected return for JetBlue Airways stock higher over the subsequent month after Case 1 or Case 2? JBLU stock fares better after Case 1, with an expected return of 4.5% over the next month (21 trading days) under Case 1 (where the stock has just suffered a 5% loss over the previous week), versus, an expected return of 1.8% for Case 2.
|
The fourth wave of the pandemic has caused uncertainty surrounding the timeline for a complete recovery of passenger numbers, but long-term trends look favorable. You can test the answer and many other combinations on the Trefis Machine Learning Engine to test JetBlue Airways stock expected return after a fall. Answer: The expected return after a rise is understandably lower than after a drop as detailed in the previous question.
|
4178.0
|
2021-09-21 00:00:00 UTC
|
Top Airlines Stocks To Watch As The U.S. Eases Travel Restrictions
|
AAL
|
https://www.nasdaq.com/articles/top-airlines-stocks-to-watch-as-the-u.s.-eases-travel-restrictions-2021-09-21
|
nan
|
nan
|
4 Top Airline Stocks For Your Watchlist Today
Airline stocks are gaining traction among investors in the stock market now. This is in light of the announcement made by the White House on Monday regarding the easing of travel restrictions. The United States plans to loosen the travel restrictions on all fully vaccinated foreign visitors starting in November. As of now, there are 33 countries including China, India, Brazil, and most of Europe that are in consideration. Well, this is a huge welcome for thousands of foreign nationals that have families in the U.S. and were kept apart for almost the entire pandemic.
With this new development alone, investors are hopeful that airline stocks could begin to take off. Companies such as Delta Air Lines (NYSE: DAL) and Alaska Air Group (NYSE: ALK) will be stoked to receive such positive news. Undoubtedly, these are the companies that have suffered during the pandemic as almost the entirety of its operations were affected. So, would it be fair to say that now is a good time to keep tabs on the industry again? If you share the same sentiment, then here are four of the top airline stocks in the stock market today worth looking out for.
Best Airlines Stocks To Watch Right Now
JetBlue Airways Corporation (NASDAQ: JBLU)
American Airlines Group Inc (NASDAQ: AAL)
Southwest Airlines Co (NYSE: LUV)
United Airlines Holdings Inc (NASDAQ: UAL)
JetBlue Airways Corporation
First up, we have JetBlue Airways. Essentially, it is a passenger carrier company that provides air transportation services across the U.S., the Caribbean, and Latin America. Under normal circumstances, the company provides its customers a choice to purchase tickets from three branded fares. These include Blue, Blue Plus, and Blue Flex. Each provides different offerings, such as free checked bags, reduced change fees, and additional TrueBlue points.
In August, JetBlue Airways announced it has officially penetrated the transatlantic market. There will be a new nonstop service between New York’s John F. Kennedy International Airport (JFK) and London Heathrow Airport (LHR). This could potentially shake up the transatlantic market as the company’s award-winning service and attractive fares would probably draw traction among consumers. With this new service up and running, the company now operates in a total of 26 countries.
It is noteworthy that JetBlue has appointed Ursula Hurley to Chief Financial Officer earlier this month. She will be responsible for the company’s overall financial strategies while overseeing the company’s real estate and strategic sourcing units. So, this appointment is a testament to her excellence of service as she leads the company through the pandemic. Now that JetBlue is in safe hands and with a clear vision ahead, would you add JBLU stock to your watchlist?
Source: TD Ameritrade TOS
[Read More] Best Lithium Battery Stocks To Buy Now? 4 To Know
American Airlines Group Inc
Following that, we will be looking at American Airlines. Its primary business activity is the operation of a network air carrier, providing scheduled air transportation for passengers and cargo. The company is a founding member of the Oneworld alliance, whose members serve more than 1,000 destinations with flights to over 150 countries.
On Monday, the company announced that it has become an anchor partner to Breakthrough Energy Catalysts. American Airlines will be investing $100 million in an effort to accelerate the clean energy technologies necessary for achieving a net-zero economy by 2050. This move backs the company’s ambitious vision of a low-carbon future for its airlines. As the world shifts towards greener alternatives, American Airlines intends to lead the way within the aviation industry.
On top of that, Gol Linhas Aereas Inteligentes SA (NYSE: GOL) has also agreed to expand its commercial partnership with American Airlines last week. The collaboration includes an exclusive codeshare agreement for the next three years that will deepen the ties between the two airlines. Ultimately, the goal is to enhance the travel opportunities for their passengers and customer experience while maintaining a competitive position in the industry. Given these exciting developments, would you consider AAL stock a top airline stock to watch?
Source: TD Ameritrade TOS
[Read More] Top Stocks To Buy Now? 4 Renewable Energy Stocks For Your Watchlist
Southwest Airlines Co
Another top airline stock to watch would be Southwest Airlines. In detail, the company is a passenger airline that provides flight services in the U.S. and near-international markets. Also, it offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors. Despite various challenges faced by the aviation industry, LUV stock has still risen over 30% over the past year.
Last Thursday, Southwest announced it extended its bookable flight schedule through April 24, 2022. Thus, giving its customers the ability to plan and navigate their travels ahead of time. Moreover, the airline is expanding its network of service next year between key business and leisure destinations. Southwest will be bringing nearly two-dozen new flights to Austin, offering additional options to Hawaii, and flying new point-to-point routes between the United States, Latin America, and the Caribbean.
Not to mention, the company’s Cargo division, has also begun taking online bookings through its new booking portal, swacargo.com. This would allow customers to easily search for available space and book select Next Flight Guarantee (NFG) shipments up to 10 days in advance. All in all, the company appears to be on the right track towards full functionality as the industry is starting to see some positive developments. With that in mind, would LUV stock be a viable investment right now?
Source: TD Ameritrade TOS
[Read More] Best Artificial Intelligence Stocks To Buy Right Now? 5 To Watch
United Airlines Holdings Inc
United Airlines, formerly known as United Continental, provides air transportation services in North America, Asia, Europe, Africa, the Pacific, the Middle East, and Latin America. The company transports people and cargo through its mainline and regional fleets. It also sells fuel and offers catering, ground handling, and maintenance services for third parties. Well, it has been an uneventful year thus far for the company’s stock, showing only marginal gains this year. That said, some investors may view this as positive given the effects of the pandemic on the aviation line.
Recently, United Airlines has been chosen to operate flights as part of the Civil Reserve Air Fleet (CRAF). The company will be supporting the mission of bringing the U.S. men and women in uniform, and American civilians back home. Given United Airlines’ status as a global airline and a flag carrier for the U.S., the company openly embraces the responsibility and opportunity presented by the federal government.
Furthermore, the company also announced last week that its new service between Washington, D.C., and Lagos, Nigeria will begin November 29. The plan is to operate three weekly flights and tickets are now available for sale. It is noteworthy that Lagos is one of the top Western African destinations for American travelers. All things considered, do you view UAL stock as an attractive opportunity?
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.
|
Best Airlines Stocks To Watch Right Now JetBlue Airways Corporation (NASDAQ: JBLU) American Airlines Group Inc (NASDAQ: AAL) Southwest Airlines Co (NYSE: LUV) United Airlines Holdings Inc (NASDAQ: UAL) JetBlue Airways Corporation First up, we have JetBlue Airways. Given these exciting developments, would you consider AAL stock a top airline stock to watch? The United States plans to loosen the travel restrictions on all fully vaccinated foreign visitors starting in November.
|
Best Airlines Stocks To Watch Right Now JetBlue Airways Corporation (NASDAQ: JBLU) American Airlines Group Inc (NASDAQ: AAL) Southwest Airlines Co (NYSE: LUV) United Airlines Holdings Inc (NASDAQ: UAL) JetBlue Airways Corporation First up, we have JetBlue Airways. Given these exciting developments, would you consider AAL stock a top airline stock to watch? 4 Top Airline Stocks For Your Watchlist Today Airline stocks are gaining traction among investors in the stock market now.
|
Best Airlines Stocks To Watch Right Now JetBlue Airways Corporation (NASDAQ: JBLU) American Airlines Group Inc (NASDAQ: AAL) Southwest Airlines Co (NYSE: LUV) United Airlines Holdings Inc (NASDAQ: UAL) JetBlue Airways Corporation First up, we have JetBlue Airways. Given these exciting developments, would you consider AAL stock a top airline stock to watch? 4 Top Airline Stocks For Your Watchlist Today Airline stocks are gaining traction among investors in the stock market now.
|
Best Airlines Stocks To Watch Right Now JetBlue Airways Corporation (NASDAQ: JBLU) American Airlines Group Inc (NASDAQ: AAL) Southwest Airlines Co (NYSE: LUV) United Airlines Holdings Inc (NASDAQ: UAL) JetBlue Airways Corporation First up, we have JetBlue Airways. Given these exciting developments, would you consider AAL stock a top airline stock to watch? 4 Top Airline Stocks For Your Watchlist Today Airline stocks are gaining traction among investors in the stock market now.
|
4179.0
|
2021-09-21 00:00:00 UTC
|
US STOCKS-Wall Street ends near flat on cautious note ahead of Fed
|
AAL
|
https://www.nasdaq.com/articles/us-stocks-wall-street-ends-near-flat-on-cautious-note-ahead-of-fed-2021-09-21-0
|
nan
|
nan
|
By Caroline Valetkevitch
NEW YORK, Sept 21 (Reuters) - U.S. stocks ended near flat on Tuesday after a broad sell-off the day before, with worries over troubles at developer China Evergrande and caution ahead of Wednesday's Federal Reserve policy news keeping a lid on the market.
Trading was choppy, with the Dow and S&P 500 erasing session gains just before the close, while the Nasdaq finished slightly higher.
Shares of Walt Disney Co DIS.N fell 4.2% and were the biggest drag on both the S&P 500 and Dow after Chief Executive Officer Bob Chapek said the resurgence of the Delta variant of the coronavirus was delaying production of some of its titles.
Concerns over China Evergrande Group 3333.HK have put investors on edge and added to recent worries over economic growth from the Delta variant.
Persistent default fears overshadowed efforts by Evergrande's chairman to boost confidence in the firm on Tuesday, while Beijing showed no signs it would intervene to stem any effects across the global economy.
"People have been preconditioned to buy pullbacks for most of the last year plus," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles.
"But that overhead nervousness is still there," he said. "The Evergrande situation is still a black cloud hanging over global markets. Combine that with uncertainty with Fed commentary coming tomorrow, and there's a reluctance to get overly aggressive on the long side."
Investors are waiting for the end of this week's Fed meeting that may shed light on when its massive purchase of government debt will begin to ease.
Officials will reveal new projections as investors also are on alert for any timing on rate tightening.
The Dow Jones Industrial Average .DJI fell 50.63 points, or 0.15%, to 33,919.84, the S&P 500 .SPX lost 3.54 points, or 0.08%, to 4,354.19 and the Nasdaq Composite .IXIC added 32.50 points, or 0.22%, to 14,746.40.
S&P 500 industrials .SPLRCI led losses among sectors.
Adding to late-day bearishness, shares of American Airlines Group Inc AAL.O and JetBlue Airways Corp JBLU.O fell after records in Boston federal court showed the United States and several U.S. states on Tuesday filed an antitrust lawsuit against the companies. American Airlines ended down 2.8% while JetBlue fell 4.8%.
The S&P 500 index traded below its 50-day moving average, its first major breach in more than six months. The average has served as a floor for the index this year.
Analysts say a breach of the index's 200-day moving average may now be in sight.
Advancing issues outnumbered declining ones on the NYSE by a 1.32-to-1 ratio; on Nasdaq, a 1.35-to-1 ratio favored advancers.
The S&P 500 posted no new 52-week highs and six new lows; the Nasdaq Composite recorded 41 new highs and 98 new lows.
Volume on U.S. exchanges was 9.73 billion shares, compared with the 9.95 billion average for the full session over the last 20 trading days.
GRAPHIC-S&P 500 breaches 50-day moving averagehttps://tmsnrt.rs/3kq93KV
(Reporting by Caroline Valetkevitch; additional reporting by Sagarika Jaisinghani and Ambar Warrick in Bengaluru; Editing by Anil D'Silva and Lisa Shumaker)
((caroline.valetkevitch@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.
|
Adding to late-day bearishness, shares of American Airlines Group Inc AAL.O and JetBlue Airways Corp JBLU.O fell after records in Boston federal court showed the United States and several U.S. states on Tuesday filed an antitrust lawsuit against the companies. By Caroline Valetkevitch NEW YORK, Sept 21 (Reuters) - U.S. stocks ended near flat on Tuesday after a broad sell-off the day before, with worries over troubles at developer China Evergrande and caution ahead of Wednesday's Federal Reserve policy news keeping a lid on the market. Shares of Walt Disney Co DIS.N fell 4.2% and were the biggest drag on both the S&P 500 and Dow after Chief Executive Officer Bob Chapek said the resurgence of the Delta variant of the coronavirus was delaying production of some of its titles.
|
Adding to late-day bearishness, shares of American Airlines Group Inc AAL.O and JetBlue Airways Corp JBLU.O fell after records in Boston federal court showed the United States and several U.S. states on Tuesday filed an antitrust lawsuit against the companies. The Dow Jones Industrial Average .DJI fell 50.63 points, or 0.15%, to 33,919.84, the S&P 500 .SPX lost 3.54 points, or 0.08%, to 4,354.19 and the Nasdaq Composite .IXIC added 32.50 points, or 0.22%, to 14,746.40. GRAPHIC-S&P 500 breaches 50-day moving averagehttps://tmsnrt.rs/3kq93KV (Reporting by Caroline Valetkevitch; additional reporting by Sagarika Jaisinghani and Ambar Warrick in Bengaluru; Editing by Anil D'Silva and Lisa Shumaker) ((caroline.valetkevitch@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.
|
Adding to late-day bearishness, shares of American Airlines Group Inc AAL.O and JetBlue Airways Corp JBLU.O fell after records in Boston federal court showed the United States and several U.S. states on Tuesday filed an antitrust lawsuit against the companies. By Caroline Valetkevitch NEW YORK, Sept 21 (Reuters) - U.S. stocks ended near flat on Tuesday after a broad sell-off the day before, with worries over troubles at developer China Evergrande and caution ahead of Wednesday's Federal Reserve policy news keeping a lid on the market. The Dow Jones Industrial Average .DJI fell 50.63 points, or 0.15%, to 33,919.84, the S&P 500 .SPX lost 3.54 points, or 0.08%, to 4,354.19 and the Nasdaq Composite .IXIC added 32.50 points, or 0.22%, to 14,746.40.
|
Adding to late-day bearishness, shares of American Airlines Group Inc AAL.O and JetBlue Airways Corp JBLU.O fell after records in Boston federal court showed the United States and several U.S. states on Tuesday filed an antitrust lawsuit against the companies. Concerns over China Evergrande Group 3333.HK have put investors on edge and added to recent worries over economic growth from the Delta variant. The S&P 500 index traded below its 50-day moving average, its first major breach in more than six months.
|
4180.0
|
2021-09-21 00:00:00 UTC
|
Airline antitrust baggage
|
AAL
|
https://www.nasdaq.com/articles/airline-antitrust-baggage-2021-09-21
|
nan
|
nan
|
Reuters
Reuters
(The author is a Reuters Breakingviews columnist. The opinions expressed are their own.)
NEW YORK (Reuters Breakingviews) - Governments that bail out private enterprises create problems for themselves – especially when they try to ensure those companies don’t gouge their customers. Airlines show the problem.
On Tuesday the Wall Street Journal https://www.wsj.com/articles/justice-department-preparing-to-challenge-american-jetblue-alliance-11632232697?mod=hp_lead_pos3 reported the U.S. Justice Department was preparing a lawsuit challenging an alliance between American Airlines and JetBlue Airways. The arrangement between the two companies was meant to allow both to sell each other’s flights in some areas of the Northeast including New York. It effectively merged parts of the sales structure of the business in busy hubs, enabling them to better compete.
President Joe Biden wants to be tough on antitrust, and it was his predecessor Donald Trump who authorized the earlier bailouts and the deal between the airlines. Still, as recently as last quarter, the U.S. government was bankrolling American and JetBlue. That leaves Biden and his trustbusters awkwardly balanced between contradictory interests. The better the airlines’ earnings, the faster they can pay the taxpayer back.
This could have been avoided. Airlines could have been given punitive terms that encouraged them to wipe the slate clean early. But that wasn’t the case. So a challenge to their profit-boosting tie-up is also a challenge to getting them off government life support. (By Lauren Silva Laughlin)
On Twitter http://twitter.com/breakingviews
Capital Calls - More concise insights on global finance:
Google hearts New York City
Uber’s profitability rides on Eats
Bond buyers give Britain some green advertising
Shell’s U.S. exit gives investors a sugar rush
U.S. air reopening better late than never
(Editing by John Foley 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.
|
NEW YORK (Reuters Breakingviews) - Governments that bail out private enterprises create problems for themselves – especially when they try to ensure those companies don’t gouge their customers. On Tuesday the Wall Street Journal https://www.wsj.com/articles/justice-department-preparing-to-challenge-american-jetblue-alliance-11632232697?mod=hp_lead_pos3 reported the U.S. Justice Department was preparing a lawsuit challenging an alliance between American Airlines and JetBlue Airways. (By Lauren Silva Laughlin) On Twitter http://twitter.com/breakingviews Capital Calls - More concise insights on global finance: Google hearts New York City Uber’s profitability rides on Eats Bond buyers give Britain some green advertising Shell’s U.S. exit gives investors a sugar rush U.S. air reopening better late than never (Editing by John Foley 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.
|
Reuters Reuters NEW YORK (Reuters Breakingviews) - Governments that bail out private enterprises create problems for themselves – especially when they try to ensure those companies don’t gouge their customers. (By Lauren Silva Laughlin) On Twitter http://twitter.com/breakingviews Capital Calls - More concise insights on global finance: Google hearts New York City Uber’s profitability rides on Eats Bond buyers give Britain some green advertising Shell’s U.S. exit gives investors a sugar rush U.S. air reopening better late than never (Editing by John Foley 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.
|
NEW YORK (Reuters Breakingviews) - Governments that bail out private enterprises create problems for themselves – especially when they try to ensure those companies don’t gouge their customers. On Tuesday the Wall Street Journal https://www.wsj.com/articles/justice-department-preparing-to-challenge-american-jetblue-alliance-11632232697?mod=hp_lead_pos3 reported the U.S. Justice Department was preparing a lawsuit challenging an alliance between American Airlines and JetBlue Airways. (By Lauren Silva Laughlin) On Twitter http://twitter.com/breakingviews Capital Calls - More concise insights on global finance: Google hearts New York City Uber’s profitability rides on Eats Bond buyers give Britain some green advertising Shell’s U.S. exit gives investors a sugar rush U.S. air reopening better late than never (Editing by John Foley 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.
|
The opinions expressed are their own.) NEW YORK (Reuters Breakingviews) - Governments that bail out private enterprises create problems for themselves – especially when they try to ensure those companies don’t gouge their customers. On Tuesday the Wall Street Journal https://www.wsj.com/articles/justice-department-preparing-to-challenge-american-jetblue-alliance-11632232697?mod=hp_lead_pos3 reported the U.S. Justice Department was preparing a lawsuit challenging an alliance between American Airlines and JetBlue Airways.
|
4181.0
|
2021-09-21 00:00:00 UTC
|
Tuesday Sector Laggards: Industrial, Consumer Products
|
AAL
|
https://www.nasdaq.com/articles/tuesday-sector-laggards%3A-industrial-consumer-products-2021-09-21
|
nan
|
nan
|
In afternoon trading on Tuesday, Industrial stocks are the worst performing sector, showing a 0.5% loss. Within that group, General Electric Co (Symbol: GE) and American Airlines Group Inc (Symbol: AAL) are two large stocks that are lagging, showing a loss of 3.0% and 2.8%, respectively. Among industrial ETFs, one ETF following the sector is the Industrial Select Sector SPDR ETF (Symbol: XLI), which is down 0.7% on the day, and up 11.96% year-to-date. General Electric Co, meanwhile, is up 12.25% year-to-date, and American Airlines Group Inc is up 25.34% year-to-date. Combined, GE and AAL make up approximately 4.1% of the underlying holdings of XLI.
The next worst performing sector is the Consumer Products sector, showing a 0.4% loss. Among large Consumer Products stocks, Hasbro, Inc. (Symbol: HAS) and Brown-Forman Corp (Symbol: BF.B) are the most notable, showing a loss of 2.3% and 1.9%, respectively. One ETF closely tracking Consumer Products stocks is the iShares U.S. Consumer Goods ETF (IYK), which is down 0.3% in midday trading, and up 6.10% on a year-to-date basis. Hasbro, Inc., meanwhile, is up 2.07% year-to-date, and Brown-Forman Corp, is down 13.63% year-to-date. HAS makes up approximately 0.4% of the underlying holdings of IYK.
Comparing these stocks and ETFs on a trailing twelve month basis, below is a relative stock price performance chart, with each of the symbols shown in a different color as labeled in the legend at the bottom:
Here's a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Tuesday. As you can see, three sectors are up on the day, while six sectors are down.
SECTOR % CHANGE
Energy +0.2%
Healthcare +0.1%
Financial +0.1%
Utilities -0.1%
Technology & Communications -0.1%
Services -0.3%
Materials -0.3%
Consumer Products -0.4%
Industrial -0.5%
25 Dividend Giants Widely Held By ETFs »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Within that group, General Electric Co (Symbol: GE) and American Airlines Group Inc (Symbol: AAL) are two large stocks that are lagging, showing a loss of 3.0% and 2.8%, respectively. Combined, GE and AAL make up approximately 4.1% of the underlying holdings of XLI. In afternoon trading on Tuesday, Industrial stocks are the worst performing sector, showing a 0.5% loss.
|
Within that group, General Electric Co (Symbol: GE) and American Airlines Group Inc (Symbol: AAL) are two large stocks that are lagging, showing a loss of 3.0% and 2.8%, respectively. Combined, GE and AAL make up approximately 4.1% of the underlying holdings of XLI. In afternoon trading on Tuesday, Industrial stocks are the worst performing sector, showing a 0.5% loss.
|
Within that group, General Electric Co (Symbol: GE) and American Airlines Group Inc (Symbol: AAL) are two large stocks that are lagging, showing a loss of 3.0% and 2.8%, respectively. Combined, GE and AAL make up approximately 4.1% of the underlying holdings of XLI. Among industrial ETFs, one ETF following the sector is the Industrial Select Sector SPDR ETF (Symbol: XLI), which is down 0.7% on the day, and up 11.96% year-to-date.
|
Within that group, General Electric Co (Symbol: GE) and American Airlines Group Inc (Symbol: AAL) are two large stocks that are lagging, showing a loss of 3.0% and 2.8%, respectively. Combined, GE and AAL make up approximately 4.1% of the underlying holdings of XLI. Among industrial ETFs, one ETF following the sector is the Industrial Select Sector SPDR ETF (Symbol: XLI), which is down 0.7% on the day, and up 11.96% year-to-date.
|
4182.0
|
2021-09-21 00:00:00 UTC
|
U.S. set to challenge American-JetBlue partnership, WSJ reports
|
AAL
|
https://www.nasdaq.com/articles/u.s.-set-to-challenge-american-jetblue-partnership-wsj-reports-2021-09-21
|
nan
|
nan
|
Adds date of potential lawsuit, background
Sept 21 (Reuters) - The U.S. Justice Department is preparing to file a lawsuit challenging American Airlines Group Inc's AAL.O partnership with JetBlue Airways Corp JBLU.O on antitrust grounds, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.
The lawsuit could come as early as Tuesday, the newspaper said.
The airlines' "Northeast Alliance" partnership was announced in July 2020 and approved by the U.S. Transportation Department six months later, shortly before the end of the Trump administration.
The codeshare 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.O and Delta Air Lines DAL.N in the U.S. Northeast.
(Reporting by Diane Bartz and David Shepardson in Washington, Abhijith Ganapavaram in Bengaluru; Editing by Ramakrishnan M. and Paul Simao)
((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.
|
Adds date of potential lawsuit, background Sept 21 (Reuters) - The U.S. Justice Department is preparing to file a lawsuit challenging American Airlines Group Inc's AAL.O partnership with JetBlue Airways Corp JBLU.O on antitrust grounds, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. The airlines' "Northeast Alliance" partnership was announced in July 2020 and approved by the U.S. Transportation Department six months later, shortly before the end of the Trump administration. The codeshare 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.O and Delta Air Lines DAL.N in the U.S. Northeast.
|
Adds date of potential lawsuit, background Sept 21 (Reuters) - The U.S. Justice Department is preparing to file a lawsuit challenging American Airlines Group Inc's AAL.O partnership with JetBlue Airways Corp JBLU.O on antitrust grounds, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. The airlines' "Northeast Alliance" partnership was announced in July 2020 and approved by the U.S. Transportation Department six months later, shortly before the end of the Trump administration. The codeshare 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.O and Delta Air Lines DAL.N in the U.S. Northeast.
|
Adds date of potential lawsuit, background Sept 21 (Reuters) - The U.S. Justice Department is preparing to file a lawsuit challenging American Airlines Group Inc's AAL.O partnership with JetBlue Airways Corp JBLU.O on antitrust grounds, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. The codeshare 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.O and Delta Air Lines DAL.N in the U.S. Northeast. (Reporting by Diane Bartz and David Shepardson in Washington, Abhijith Ganapavaram in Bengaluru; Editing by Ramakrishnan M. and Paul Simao) ((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.
|
Adds date of potential lawsuit, background Sept 21 (Reuters) - The U.S. Justice Department is preparing to file a lawsuit challenging American Airlines Group Inc's AAL.O partnership with JetBlue Airways Corp JBLU.O on antitrust grounds, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. The lawsuit could come as early as Tuesday, the newspaper said. The airlines' "Northeast Alliance" partnership was announced in July 2020 and approved by the U.S. Transportation Department six months later, shortly before the end of the Trump administration.
|
4183.0
|
2021-09-21 00:00:00 UTC
|
U.S. preparing to challenge American-JetBlue partnership - WSJ
|
AAL
|
https://www.nasdaq.com/articles/u.s.-preparing-to-challenge-american-jetblue-partnership-wsj-2021-09-21
|
nan
|
nan
|
Sept 21 (Reuters) - The U.S. Justice Department is preparing to file a lawsuit challenging American Airlines Group Inc's AAL.O partnership with JetBlue Airways Corp JBLU.O on antitrust grounds, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.
(Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Ramakrishnan M.)
((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.
|
Sept 21 (Reuters) - The U.S. Justice Department is preparing to file a lawsuit challenging American Airlines Group Inc's AAL.O partnership with JetBlue Airways Corp JBLU.O on antitrust grounds, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. (Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Ramakrishnan M.) ((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.
|
Sept 21 (Reuters) - The U.S. Justice Department is preparing to file a lawsuit challenging American Airlines Group Inc's AAL.O partnership with JetBlue Airways Corp JBLU.O on antitrust grounds, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. (Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Ramakrishnan M.) ((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.
|
Sept 21 (Reuters) - The U.S. Justice Department is preparing to file a lawsuit challenging American Airlines Group Inc's AAL.O partnership with JetBlue Airways Corp JBLU.O on antitrust grounds, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. (Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Ramakrishnan M.) ((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.
|
Sept 21 (Reuters) - The U.S. Justice Department is preparing to file a lawsuit challenging American Airlines Group Inc's AAL.O partnership with JetBlue Airways Corp JBLU.O on antitrust grounds, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. (Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Ramakrishnan M.) ((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.
|
4184.0
|
2021-09-21 00:00:00 UTC
|
Shares in Brazilian airline Gol rise after flying taxis announcement
|
AAL
|
https://www.nasdaq.com/articles/shares-in-brazilian-airline-gol-rise-after-flying-taxis-announcement-2021-09-21
|
nan
|
nan
|
By Gabriel Araujo
SAO PAULO, Sept 21 (Reuters) - Shares in Brazilian airline Gol Linhas Aereas Inteligentes GOLL4.SAclimbed on Tuesday after it announced an agreement with lessor Avolon to buy or lease 250 electric air taxis.
Gol's preferred shares rose 2.3% in early trading in Sao Paulo, to 19.30 reais, while the broader Bovespa index .BVSP was up around 0.6%.
In a securities filing, Gol said it expects to begin operating a fleet of model VA-X4 eVTOL, manufactured by UK's Vertical Aerospace, in 2025. A holding company owned by Gol's controlling shareholders, Grupo Comporte, will finance the transaction, Gol added, without giving a figure.
Gol also said that the move is part of its commercial strategy to invest in the regional air transportation market. The Brazilian airline intends to open up new routes to what it has called "underserved domestic markets."
It also adds to its goal of reaching carbon neutrality by 2050, Gol said.
"The first step of the new partnership is to carry out a feasibility study, including aircraft certification and analysis of the infrastructure needed to operate this aircraft with Brazil's regulator ANAC, the Department of Airspace Control and other national and international aeronautical authorities."
Avolon, which had previously stated it believes that flying taxis could rapidly poach passengers from planes, expects to complete the certification process for the VA-X4 in Brazil by 2024.
Vertical Aerospace, the British manufacturer of the flying taxis, is backed by American Airlines AAL.O, which has recently announced an exclusive three-year codeshare agreement and a $200 million equity investment in Gol.
($1 = 5.3173 reais)
(Reporting by Tatiana Bautzer and Gabriel Araujo, Editing by Louise Heavens and Steve Orlofsky)
((tatiana.bautzer@tr.com; Tel: +55-11-5644-7756; Mob: +55-119-4210-4173; Reuters Messaging: tatiana.bautzer.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.
|
Vertical Aerospace, the British manufacturer of the flying taxis, is backed by American Airlines AAL.O, which has recently announced an exclusive three-year codeshare agreement and a $200 million equity investment in Gol. By Gabriel Araujo SAO PAULO, Sept 21 (Reuters) - Shares in Brazilian airline Gol Linhas Aereas Inteligentes GOLL4.SAclimbed on Tuesday after it announced an agreement with lessor Avolon to buy or lease 250 electric air taxis. Avolon, which had previously stated it believes that flying taxis could rapidly poach passengers from planes, expects to complete the certification process for the VA-X4 in Brazil by 2024.
|
Vertical Aerospace, the British manufacturer of the flying taxis, is backed by American Airlines AAL.O, which has recently announced an exclusive three-year codeshare agreement and a $200 million equity investment in Gol. By Gabriel Araujo SAO PAULO, Sept 21 (Reuters) - Shares in Brazilian airline Gol Linhas Aereas Inteligentes GOLL4.SAclimbed on Tuesday after it announced an agreement with lessor Avolon to buy or lease 250 electric air taxis. Gol's preferred shares rose 2.3% in early trading in Sao Paulo, to 19.30 reais, while the broader Bovespa index .BVSP was up around 0.6%.
|
Vertical Aerospace, the British manufacturer of the flying taxis, is backed by American Airlines AAL.O, which has recently announced an exclusive three-year codeshare agreement and a $200 million equity investment in Gol. By Gabriel Araujo SAO PAULO, Sept 21 (Reuters) - Shares in Brazilian airline Gol Linhas Aereas Inteligentes GOLL4.SAclimbed on Tuesday after it announced an agreement with lessor Avolon to buy or lease 250 electric air taxis. A holding company owned by Gol's controlling shareholders, Grupo Comporte, will finance the transaction, Gol added, without giving a figure.
|
Vertical Aerospace, the British manufacturer of the flying taxis, is backed by American Airlines AAL.O, which has recently announced an exclusive three-year codeshare agreement and a $200 million equity investment in Gol. By Gabriel Araujo SAO PAULO, Sept 21 (Reuters) - Shares in Brazilian airline Gol Linhas Aereas Inteligentes GOLL4.SAclimbed on Tuesday after it announced an agreement with lessor Avolon to buy or lease 250 electric air taxis. A holding company owned by Gol's controlling shareholders, Grupo Comporte, will finance the transaction, Gol added, without giving a figure.
|
4185.0
|
2021-09-21 00:00:00 UTC
|
Why JetBlue Stock Is Down Today
|
AAL
|
https://www.nasdaq.com/articles/why-jetblue-stock-is-down-today-2021-09-21
|
nan
|
nan
|
What happened
Shares of JetBlue Airways (NASDAQ: JBLU) traded down as much as 5% on Tuesday afternoon on reports that regulators are preparing to challenge an alliance between JetBlue and American Airlines Group (NASDAQ: AAL). That would be unwanted turbulence for the airline, and the threat has investors heading for the exits.
So what
JetBlue is a well-regarded airline, but it offers a niche product from a limited number of focus airports. The company throughout its history has attempted to broaden its reach via partnerships, and last year announced a wide-ranging alliance with American designed to improve both airlines' competitive positions in Boston and New York.
Image source: JetBlue Airways.
The two airlines won Department of Transportation approval for the alliance, and in recent months have rolled out plans to share loyalty benefits and coordinate on certain routes. But there were indications the Department of Transportation had a skeptical view of the partnership, and according to a Tuesday report in The Wall Street Journal a formal challenge on antitrust grounds is imminent.
The DOJ is concerned that by coordinating, the two airlines will limit competition on certain routes and drive up fares. The carriers agreed to give up some takeoff and landing slots in Washington and New York and agree to certain restrictions to win Transportation Department approval, but apparently that was not enough to put Justice at ease.
The airlines have countered that by working together, they can better mount a competitive challenge to Delta Air Lines and United Airlines Holdings in what are crowded airports where neither JetBlue nor American have unfettered ability to grow on their own.
Now what
A DOJ challenge is not necessarily a death knell to the alliance, but it would certainly complicate the airlines' plans. It is possible that added conditions could address any government concerns and allow the alliance to proceed, but if nothing else a challenge would mean the airlines would be unable to act as fast as they had hoped.
JetBlue doesn't need the partnership to survive, but it represents the airline's best chance to grow and gain more of a loyal following in markets where it already has a loyal following and a strong customer base. The DOJ's involvement is clearly an unwanted headwind, and it appears some investors aren't interested in hanging around to find out how it is eventually resolved.
10 stocks we like better than JetBlue Airways
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 JetBlue Airways 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 September 17, 2021
Lou Whiteman owns shares of Delta Air Lines. The Motley Fool recommends 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.
|
What happened Shares of JetBlue Airways (NASDAQ: JBLU) traded down as much as 5% on Tuesday afternoon on reports that regulators are preparing to challenge an alliance between JetBlue and American Airlines Group (NASDAQ: AAL). The company throughout its history has attempted to broaden its reach via partnerships, and last year announced a wide-ranging alliance with American designed to improve both airlines' competitive positions in Boston and New York. The two airlines won Department of Transportation approval for the alliance, and in recent months have rolled out plans to share loyalty benefits and coordinate on certain routes.
|
What happened Shares of JetBlue Airways (NASDAQ: JBLU) traded down as much as 5% on Tuesday afternoon on reports that regulators are preparing to challenge an alliance between JetBlue and American Airlines Group (NASDAQ: AAL). The airlines have countered that by working together, they can better mount a competitive challenge to Delta Air Lines and United Airlines Holdings in what are crowded airports where neither JetBlue nor American have unfettered ability to grow on their own. The Motley Fool recommends Delta Air Lines and JetBlue Airways.
|
What happened Shares of JetBlue Airways (NASDAQ: JBLU) traded down as much as 5% on Tuesday afternoon on reports that regulators are preparing to challenge an alliance between JetBlue and American Airlines Group (NASDAQ: AAL). The airlines have countered that by working together, they can better mount a competitive challenge to Delta Air Lines and United Airlines Holdings in what are crowded airports where neither JetBlue nor American have unfettered ability to grow on their own. 10 stocks we like better than JetBlue Airways When our award-winning analyst team has a stock tip, it can pay to listen.
|
What happened Shares of JetBlue Airways (NASDAQ: JBLU) traded down as much as 5% on Tuesday afternoon on reports that regulators are preparing to challenge an alliance between JetBlue and American Airlines Group (NASDAQ: AAL). The two airlines won Department of Transportation approval for the alliance, and in recent months have rolled out plans to share loyalty benefits and coordinate on certain routes. * They just revealed what they believe are the ten best stocks for investors to buy right now... and JetBlue Airways wasn't one of them!
|
4186.0
|
2021-09-20 00:00:00 UTC
|
Senators urge U.S. Justice Dept to prosecute unruly air passengers
|
AAL
|
https://www.nasdaq.com/articles/senators-urge-u.s.-justice-dept-to-prosecute-unruly-air-passengers-2021-09-20
|
nan
|
nan
|
By David Shepardson
WASHINGTON, Sept 20 (Reuters) - Two senior U.S. Senate Democrats urged Attorney General Merrick Garland on Monday to investigate and prosecute unruly air passengers in the face of a rising number of incidents onboard airplanes.
Senate Majority Whip Dick Durbin and Commerce Committee chair Maria Cantwell called on the Justice Department and Federal Aviation Administration (FAA) to coordinate efforts to "ensure qualifying passenger behavior is criminally prosecuted."
"Civil penalties alone are failing to deter criminal activity by airline passengers," Durbin and Cantwell wrote in the letter to the FAA.
The FAA and Justice Depatment did not immediately comment.
In June, a group representing major U.S. airlines such as American Airlines AAL.O, Delta Air Lines DAL.N and United Airlines [RIC:RIC:UALCO.UL], and aviation unions also asked Garland to prosecute the growing number of disruptive and violent air passengers.
The letter from Airlines for America said the "incidents pose a safety and security threat to our passengers and employees, and we respectfully request the (Justice Department) commit to the full and public prosecution of onboard acts of violence."
To date this year, there have been 4,284 reports of unruly passenger incidents, including 3,123 that were mask-related. The FAA has initiated enforcement actions in 154 cases, issuing more than $1 million in proposed fines.
FAA Administrator Steve Dickson imposed in January a zero-tolerance order on passenger disturbances aboard airplanes after supporters of former U.S. President Donald Trump were disruptive on flights around the Jan. 6 U.S. Capitol attack. That policy will extend until at least as long as federal mask rules on airplanes are in place, which were extended last month into mid-January 2022.
"It is critical that DOJ direct federal law enforcement agents and prosecutors to use these authorities to fully investigate reported incidents on aircraft, and, when supported by the evidence, prosecute those who are criminally responsible," Durbin and Cantwell's letter to Garland said.
Separately, the House Transportation and Infrastructure Committee will hold a hearing on Thursday that will include aviation union and other industry officials, titled "Disruption in the Skies: The Surge in Air Rage and its Effects on Workers, Airlines, and Airports."
(Reporting by David Shepardson; Editing by Karishma Singh)
((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.
|
In June, a group representing major U.S. airlines such as American Airlines AAL.O, Delta Air Lines DAL.N and United Airlines [RIC:RIC:UALCO.UL], and aviation unions also asked Garland to prosecute the growing number of disruptive and violent air passengers. By David Shepardson WASHINGTON, Sept 20 (Reuters) - Two senior U.S. Senate Democrats urged Attorney General Merrick Garland on Monday to investigate and prosecute unruly air passengers in the face of a rising number of incidents onboard airplanes. Senate Majority Whip Dick Durbin and Commerce Committee chair Maria Cantwell called on the Justice Department and Federal Aviation Administration (FAA) to coordinate efforts to "ensure qualifying passenger behavior is criminally prosecuted."
|
In June, a group representing major U.S. airlines such as American Airlines AAL.O, Delta Air Lines DAL.N and United Airlines [RIC:RIC:UALCO.UL], and aviation unions also asked Garland to prosecute the growing number of disruptive and violent air passengers. Senate Majority Whip Dick Durbin and Commerce Committee chair Maria Cantwell called on the Justice Department and Federal Aviation Administration (FAA) to coordinate efforts to "ensure qualifying passenger behavior is criminally prosecuted." To date this year, there have been 4,284 reports of unruly passenger incidents, including 3,123 that were mask-related.
|
In June, a group representing major U.S. airlines such as American Airlines AAL.O, Delta Air Lines DAL.N and United Airlines [RIC:RIC:UALCO.UL], and aviation unions also asked Garland to prosecute the growing number of disruptive and violent air passengers. By David Shepardson WASHINGTON, Sept 20 (Reuters) - Two senior U.S. Senate Democrats urged Attorney General Merrick Garland on Monday to investigate and prosecute unruly air passengers in the face of a rising number of incidents onboard airplanes. Senate Majority Whip Dick Durbin and Commerce Committee chair Maria Cantwell called on the Justice Department and Federal Aviation Administration (FAA) to coordinate efforts to "ensure qualifying passenger behavior is criminally prosecuted."
|
In June, a group representing major U.S. airlines such as American Airlines AAL.O, Delta Air Lines DAL.N and United Airlines [RIC:RIC:UALCO.UL], and aviation unions also asked Garland to prosecute the growing number of disruptive and violent air passengers. Senate Majority Whip Dick Durbin and Commerce Committee chair Maria Cantwell called on the Justice Department and Federal Aviation Administration (FAA) to coordinate efforts to "ensure qualifying passenger behavior is criminally prosecuted." "Civil penalties alone are failing to deter criminal activity by airline passengers," Durbin and Cantwell wrote in the letter to the FAA.
|
4187.0
|
2021-09-20 00:00:00 UTC
|
Easing restrictions will boost U.S. airlines but business travel still unclear
|
AAL
|
https://www.nasdaq.com/articles/easing-restrictions-will-boost-u.s.-airlines-but-business-travel-still-unclear-2021-09-20
|
nan
|
nan
|
By Rajesh Kumar Singh
CHICAGO, Sept 20 (Reuters) - U.S. airlines will benefit from the Biden administration's decision on Monday to reopen the country to fully-vaccinated air travelers from around the world, experts said, but the outlook for lucrative business travel was less certain.
Lifting restrictions will allow tens of thousands of foreign nationals to fly to the United States. It also gives the big three air carriers, American Airlines AAL.O, United Airlines UAL.O and Delta Air Lines DAL.N, a chance to recover part of their trans-Atlantic business.
Moody's Investors Service estimates the White House decision would result in a "stronger" operating cash flow at U.S. airlines in the next six months.
Trans-Atlantic flights accounted for 11% to 17% of their 2019 passenger revenues. Overall, international travel generated 26% to 38% of revenue for the three airlines in 2019, said Colin Scarola, vice president equity research at CFRA Research.
Scarola added "the international category has been the one that really hasn't recovered much at all."
The lifting of restrictions coincides with the onset of winter season, historically a lean period for international travel. Scarola said the decision would encourage companies to approve overseas business trips, yet the fight against COVID-19 was more important and he does not expect international travel to rebound to pre-pandemic level before late 2022.
CEO Doug Parker said American Airlines was "looking forward to welcoming more customers back to easy, seamless international trips for business, for leisure, and to reconnect with family and friends."
In early September, U.S. airline passenger volumes for international travel were just 44% of the pre-pandemic levels, according to data from Airlines for America, an industry trade group.
Savanthi Syth, an analyst at Raymond James, called the White House's decision an "incremental positive" that would give U.S. carriers clarity for next year's summer travel season. Yet it did not prompt her to revise her financial estimates for them or the outlook for air-travel.
"While this is a net positive, you have to kind of counterbalance it with what's happening in the U.S.," she said, referring to warnings from airlines this month about the financial hit from the fast-spreading Delta variant of the coronavirus.
Several airlines have slashed revenue forecasts, citing a slowdown in bookings and increased cancellations. The resurgence in cases has also stalled a pickup in business travel, a cash cow for airlines with a roundtrip business class ticket for a Chicago-New York United flight nearly triple the price of economy class.
Syth expects domestic business travel to remain below the 2019 levels at least until late 2022. International business travel is not expected to recover before 2024, she said.
(Additional reporting by David Shepardson in Washington; Editing by David Gregorio and Chris Sanders)
((rajeshkumar.singh@thomsonreuters.com; +1-312-408-8537; Reuters Messaging: rajeshkumar.singh.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.
|
It also gives the big three air carriers, American Airlines AAL.O, United Airlines UAL.O and Delta Air Lines DAL.N, a chance to recover part of their trans-Atlantic business. Scarola said the decision would encourage companies to approve overseas business trips, yet the fight against COVID-19 was more important and he does not expect international travel to rebound to pre-pandemic level before late 2022. CEO Doug Parker said American Airlines was "looking forward to welcoming more customers back to easy, seamless international trips for business, for leisure, and to reconnect with family and friends."
|
It also gives the big three air carriers, American Airlines AAL.O, United Airlines UAL.O and Delta Air Lines DAL.N, a chance to recover part of their trans-Atlantic business. Scarola said the decision would encourage companies to approve overseas business trips, yet the fight against COVID-19 was more important and he does not expect international travel to rebound to pre-pandemic level before late 2022. Syth expects domestic business travel to remain below the 2019 levels at least until late 2022. International business travel is not expected to recover before 2024, she said.
|
It also gives the big three air carriers, American Airlines AAL.O, United Airlines UAL.O and Delta Air Lines DAL.N, a chance to recover part of their trans-Atlantic business. By Rajesh Kumar Singh CHICAGO, Sept 20 (Reuters) - U.S. airlines will benefit from the Biden administration's decision on Monday to reopen the country to fully-vaccinated air travelers from around the world, experts said, but the outlook for lucrative business travel was less certain. Syth expects domestic business travel to remain below the 2019 levels at least until late 2022. International business travel is not expected to recover before 2024, she said.
|
It also gives the big three air carriers, American Airlines AAL.O, United Airlines UAL.O and Delta Air Lines DAL.N, a chance to recover part of their trans-Atlantic business. Lifting restrictions will allow tens of thousands of foreign nationals to fly to the United States. Syth expects domestic business travel to remain below the 2019 levels at least until late 2022. International business travel is not expected to recover before 2024, she said.
|
4188.0
|
2021-09-20 00:00:00 UTC
|
Wall St drops 2% on growth worries; focus turns to Fed?
|
AAL
|
https://www.nasdaq.com/articles/wall-st-drops-2-on-growth-worries-focus-turns-to-fed-2021-09-20
|
nan
|
nan
|
By Devik Jain
Sept 20 (Reuters) - Wall Street's main indexes tumbled on Monday, as concerns about the pace of a global recovery spurred a selloff across sectors at the start of a week in which the Federal Reserve will decide on potentially tapering its pandemic-era stimulus.
Ten of the 11 major S&P sectors declined. Economy-sensitive industrials .SPLRCI, financials .SPSY and energy .SPNY dropped between 1.7% and 3.6%.
The banking sub-index .SPXBK shed 3.9%, tracking U.S. Treasury yields as worries about the default of Chinese property developer Evergrande appeared to affect the broader market, with commodities slipping and investors flocking to the perceived safety of bonds. US/.
Technology-related stocks Microsoft Corp MSFT.O, Google-owner Alphabet Inc GOOGL.O, Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Facebook Inc FB.O and Tesla Inc TSLA.O were down between 2.2% and 4.1%, weighing the most on the benchmark S&P 500 .SPX and the Nasdaq .IXIC.
Wall Street's main indexes have been hurt this month by fears of potentially higher corporate tax rates denting earnings and have shrugged off signs inflation might have peaked.
The S&P 500 is down 4.1% from its intra-day record high hit on Sept. 2and is on track to snap a seven-month winning streak.
"The Evergrande situation, although big and impactful, isn't the reason for this selloff," said Jamie Cox, managing partner for Harris Financial Group in Richmond, Virginia.
"Rather, stalemates in Congress on the debt ceiling, worries on policy changes or mistakes in monetary policy, and a litany of proposed tax increases have dampened the mood for investors. When this occurs, corrections happen."
All eyes on Wednesday will be on the Fed's policy meeting, where the central bank is expected to lay the groundwork for a tapering, although the consensus is for an actual announcement to be delayed until the November or December meetings. [nL1N2QI1L8]
At 12:06 a.m. ET, the Dow Jones Industrial Average .DJIwas down 663.66 points, or 1.92%, at 33,921.22, the S&P 500 .SPXwas down 90.65 points, or 2.04%, at 4,342.34, and the Nasdaq Composite .IXICwas down 380.55 points, or 2.53%, at 14,663.42, and was set for its worst day since May 12.
Strategists at Morgan Stanley said they expected a 10% correction in the S&P 500 as the Fed starts to unwind its monetary support, adding that signs of stalling economic growth could deepen it to 20%.
The CBOE volatility index .VIX, known as Wall Street's fear gauge, hit its highest level in over four months.
Carriers United Airlines UAL.O, Delta Airlines DAL.N and American Airlines AAL.O gained between 0.6% and 1.8%, as the United States relaxed travel restrictions on air passengers from China, India, Britain and many other European countries who have received COVID-19 vaccines in early November.
Declining issues outnumbered advancers for a 7.40-to-1 ratio on the NYSE and for a 5.71-to-1 ratio on the Nasdaq.
The S&P index recorded no new 52-week highs and 3 new lows, while the Nasdaq recorded 13 new highs and 147 new lows.
(Reporting by Devik Jain and Sagarika Jaisinghani in Bengaluru; Editing by Arun Koyyur and Maju Samuel)
((sagarika.jaisinghani@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.
|
Carriers United Airlines UAL.O, Delta Airlines DAL.N and American Airlines AAL.O gained between 0.6% and 1.8%, as the United States relaxed travel restrictions on air passengers from China, India, Britain and many other European countries who have received COVID-19 vaccines in early November. By Devik Jain Sept 20 (Reuters) - Wall Street's main indexes tumbled on Monday, as concerns about the pace of a global recovery spurred a selloff across sectors at the start of a week in which the Federal Reserve will decide on potentially tapering its pandemic-era stimulus. The banking sub-index .SPXBK shed 3.9%, tracking U.S. Treasury yields as worries about the default of Chinese property developer Evergrande appeared to affect the broader market, with commodities slipping and investors flocking to the perceived safety of bonds.
|
Carriers United Airlines UAL.O, Delta Airlines DAL.N and American Airlines AAL.O gained between 0.6% and 1.8%, as the United States relaxed travel restrictions on air passengers from China, India, Britain and many other European countries who have received COVID-19 vaccines in early November. By Devik Jain Sept 20 (Reuters) - Wall Street's main indexes tumbled on Monday, as concerns about the pace of a global recovery spurred a selloff across sectors at the start of a week in which the Federal Reserve will decide on potentially tapering its pandemic-era stimulus. Wall Street's main indexes have been hurt this month by fears of potentially higher corporate tax rates denting earnings and have shrugged off signs inflation might have peaked.
|
Carriers United Airlines UAL.O, Delta Airlines DAL.N and American Airlines AAL.O gained between 0.6% and 1.8%, as the United States relaxed travel restrictions on air passengers from China, India, Britain and many other European countries who have received COVID-19 vaccines in early November. By Devik Jain Sept 20 (Reuters) - Wall Street's main indexes tumbled on Monday, as concerns about the pace of a global recovery spurred a selloff across sectors at the start of a week in which the Federal Reserve will decide on potentially tapering its pandemic-era stimulus. ET, the Dow Jones Industrial Average .DJIwas down 663.66 points, or 1.92%, at 33,921.22, the S&P 500 .SPXwas down 90.65 points, or 2.04%, at 4,342.34, and the Nasdaq Composite .IXICwas down 380.55 points, or 2.53%, at 14,663.42, and was set for its worst day since May 12.
|
Carriers United Airlines UAL.O, Delta Airlines DAL.N and American Airlines AAL.O gained between 0.6% and 1.8%, as the United States relaxed travel restrictions on air passengers from China, India, Britain and many other European countries who have received COVID-19 vaccines in early November. Ten of the 11 major S&P sectors declined. Economy-sensitive industrials .SPLRCI, financials .SPSY and energy .SPNY dropped between 1.7% and 3.6%.
|
4189.0
|
2021-09-20 00:00:00 UTC
|
S&P 500 Movers: NUE, AAL
|
AAL
|
https://www.nasdaq.com/articles/sp-500-movers%3A-nue-aal-2021-09-20
|
nan
|
nan
|
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 1.9%. Year to date, American Airlines Group registers a 27.5% gain.
And the worst performing S&P 500 component thus far on the day is Nucor, trading down 6.6%. Nucor is showing a gain of 84.2% looking at the year to date performance.
Two other components making moves today are Invesco, trading down 6.4%, and Incyte, trading up 1.2% on the day.
VIDEO: S&P 500 Movers: NUE, AAL
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
VIDEO: S&P 500 Movers: NUE, 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 27.5% gain. And the worst performing S&P 500 component thus far on the day is Nucor, trading down 6.6%.
|
VIDEO: S&P 500 Movers: NUE, 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 1.9%. Year to date, American Airlines Group registers a 27.5% gain.
|
VIDEO: S&P 500 Movers: NUE, 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 1.9%. Two other components making moves today are Invesco, trading down 6.4%, and Incyte, trading up 1.2% on the day.
|
VIDEO: S&P 500 Movers: NUE, 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 1.9%. And the worst performing S&P 500 component thus far on the day is Nucor, trading down 6.6%.
|
4190.0
|
2021-09-20 00:00:00 UTC
|
Wall St tumbles on growth worries; focus turns to Fed
|
AAL
|
https://www.nasdaq.com/articles/wall-st-tumbles-on-growth-worries-focus-turns-to-fed-2021-09-20
|
nan
|
nan
|
By Devik Jain
Sept 20 (Reuters) - Wall Street's main indexes tumbled on Monday, as concerns about the pace of a global recovery hit economy-linked stocks at the start of a week in which the Federal Reserve will decide on potentially tapering its pandemic-era stimulus.
Ten of the 11 major S&P sectors declined in early trading. Economy-sensitive industrials .SPLRCI, financials .SPSY and energy .SPNY dropped between 1.6% and 3.2%.
The banking sub-index .SPXBK shed 2.9%, tracking U.S. Treasury yields as investors flocked to the safety of bonds on worries about the default of Chinese property developer Evergrande. US/
Heavyweight technology-related stocks Microsoft Corp MSFT.O, Google-owner Alphabet Inc GOOGL.O, Amazon.com Inc AMZN.O, Apple Inc AAPL.O and Tesla Inc TSLA.O, which tend to perform better during economic uncertainty, were down between 0.6% and 2.8%.
Wall Street's main indexes have been hurt this month by fears of potentially higher corporate tax rates denting earnings and have shrugged off signs inflation might have peaked. The benchmark S&P 500 .SPX is on track to snap a seven-month gaining streak.
All eyes on Wednesday will be on the Fed's policy meeting, where the central bank is expected to lay the groundwork for a tapering, although the consensus is for an actual announcement to be delayed until the November or December meetings. [nL1N2QI1L8]
"Markets have been priced to perfection for a long time and in this September lull that seems to be quite seasonal throughout history, markets are dealing with the thing they hate most – uncertainty," said David Bahnsen, chief investment officer, The Bahnsen Group in Newport Beach, California.
"There is uncertainty around geopolitics, public health policy, tax and spending legislation, but this market has experienced almost no downside volatility for a long time and a pullback was long overdue.
At 9:39 a.m. ET, the Dow Jones Industrial Average .DJIwas down 463.80 points, or 1.34%, at 34,121.08, the S&P 500 .SPXwas down 60.05 points, or 1.35%, at 4,372.94, and the Nasdaq Composite .IXICwas down 244.94 points, or 1.63%, at 14,799.03.
Strategists at Morgan Stanley said they expected a 10% correction in the S&P 500 as the Fed starts to unwind its monetary support, adding that signs of stalling economic growth could deepen it to 20%.
The CBOE volatility index .VIX, known as Wall Street's fear gauge, hit its highest level in a month.
Carriers United Airlines UAL.O, Delta Airlines DAL.N and American Airlines AAL.O gained between 0.7% and 2.3% after a source told Reuters the United States was planning to relax travel restrictions on vaccinated passengers from the European Union and Britain.
Declining issues outnumbered advancers for a 11.26-to-1 ratio on the NYSE and for a 9.38-to-1 ratio on the Nasdaq.
The S&P index recorded no new 52-week highs and one new low, while the Nasdaq recorded five new highs and 95 new lows.
(Reporting by Devik Jain and Sagarika Jaisinghani in Bengaluru; Editing by Arun Koyyur and Maju Samuel)
((sagarika.jaisinghani@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.
|
Carriers United Airlines UAL.O, Delta Airlines DAL.N and American Airlines AAL.O gained between 0.7% and 2.3% after a source told Reuters the United States was planning to relax travel restrictions on vaccinated passengers from the European Union and Britain. By Devik Jain Sept 20 (Reuters) - Wall Street's main indexes tumbled on Monday, as concerns about the pace of a global recovery hit economy-linked stocks at the start of a week in which the Federal Reserve will decide on potentially tapering its pandemic-era stimulus. Wall Street's main indexes have been hurt this month by fears of potentially higher corporate tax rates denting earnings and have shrugged off signs inflation might have peaked.
|
Carriers United Airlines UAL.O, Delta Airlines DAL.N and American Airlines AAL.O gained between 0.7% and 2.3% after a source told Reuters the United States was planning to relax travel restrictions on vaccinated passengers from the European Union and Britain. By Devik Jain Sept 20 (Reuters) - Wall Street's main indexes tumbled on Monday, as concerns about the pace of a global recovery hit economy-linked stocks at the start of a week in which the Federal Reserve will decide on potentially tapering its pandemic-era stimulus. Wall Street's main indexes have been hurt this month by fears of potentially higher corporate tax rates denting earnings and have shrugged off signs inflation might have peaked.
|
Carriers United Airlines UAL.O, Delta Airlines DAL.N and American Airlines AAL.O gained between 0.7% and 2.3% after a source told Reuters the United States was planning to relax travel restrictions on vaccinated passengers from the European Union and Britain. By Devik Jain Sept 20 (Reuters) - Wall Street's main indexes tumbled on Monday, as concerns about the pace of a global recovery hit economy-linked stocks at the start of a week in which the Federal Reserve will decide on potentially tapering its pandemic-era stimulus. ET, the Dow Jones Industrial Average .DJIwas down 463.80 points, or 1.34%, at 34,121.08, the S&P 500 .SPXwas down 60.05 points, or 1.35%, at 4,372.94, and the Nasdaq Composite .IXICwas down 244.94 points, or 1.63%, at 14,799.03.
|
Carriers United Airlines UAL.O, Delta Airlines DAL.N and American Airlines AAL.O gained between 0.7% and 2.3% after a source told Reuters the United States was planning to relax travel restrictions on vaccinated passengers from the European Union and Britain. By Devik Jain Sept 20 (Reuters) - Wall Street's main indexes tumbled on Monday, as concerns about the pace of a global recovery hit economy-linked stocks at the start of a week in which the Federal Reserve will decide on potentially tapering its pandemic-era stimulus. Ten of the 11 major S&P sectors declined in early trading.
|
4191.0
|
2021-09-20 00:00:00 UTC
|
Wall St set to drop at open on growth worries; focus turns to Fed
|
AAL
|
https://www.nasdaq.com/articles/wall-st-set-to-drop-at-open-on-growth-worries-focus-turns-to-fed-2021-09-20
|
nan
|
nan
|
By Devik Jain
Sept 20 (Reuters) - Wall Street was set to tumble at the open on Monday, as concerns about the pace of an economic recovery hit energy and banking shares at the start of a week in which the Federal Reserve will decide on potentially tapering its pandemic-era stimulus.
Oil firms including Chevron CVX.N and Exxon Mobil XOM.N led declines in premarket trading, while economy-sensitive industrials 3M Co MMM.N, Boeing Co BA.N and Caterpillar Inc CAT.N slipped between 2.4% and 3.0%. O/R
Economy-linked banking stocks including Morgan Stanley MS.N, JPMorgan Chase & Co JPM.N and Bank of America Corp BAC.N slid between 2.2% and 3%, tracking U.S. Treasury yields. US/
Wall Street's main indexes have been hurt this month by fears of potentially higher corporate tax rates denting earnings and have shrugged off signs inflation might have peaked. The benchmark S&P 500 .SPX is on track to snap a seven-month gaining streak.
All eyes on Wednesday will be on the Fed's policy meeting, where the central bank is expected to lay the groundwork for a tapering, although the consensus is for an actual announcement to be delayed until the November or December meetings. [nL1N2QI1L8]
"The wall of worry is simply getting higher," said Sam Stovall, chief investment strategist at CFRA Research in New York.
"The stubbornly rising number of COVID Delta cases, the threat of a Fed tapering, the possibility of slower-than-expected economic growth and the newest concern is that Chinese real estate developer's (default) could create some sort of a cascading financial effect."
At 8:35 a.m. ET, Dow e-minis 1YMcv1 were down 689 points, or 2%, S&P 500 e-minis EScv1 were down 80 points, or 1.81%, and Nasdaq 100 e-minis NQcv1 were down 270.5 points, or 1.76%.
Strategists at Morgan Stanley said they expected a 10% correction in the S&P 500 as the Fed starts to unwind its monetary support, adding that signs of stalling economic growth could deepen it to 20%.
The CBOE volatility index .VIX, known as Wall Street's fear gauge, hit its highest level in more than four months.
Heavyweight technology-related stocks Microsoft Corp MSFT.O, Google-owner Alphabet Inc GOOGL.O, Amazon.com Inc AMZN.O, Apple Inc AAPL.O and Tesla Inc TSLA.O, which tend to perform better during economic uncertainty, were down between 1.4% and 3.7%
Cruiseliners RCL.N, NCLH.KCCL.N slid about 3.6%, while carriers United Airlines UAL.O, American Airlines AAL.O and Delta Airlines DAL.N dropped 2.9% as rising COVID-19 cases stoked fears of a delayed recovery in travel demand.
(Reporting by Devik Jain and Sagarika Jaisinghani in Bengaluru; Editing by Arun Koyyur and Maju Samuel)
((sagarika.jaisinghani@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.
|
Heavyweight technology-related stocks Microsoft Corp MSFT.O, Google-owner Alphabet Inc GOOGL.O, Amazon.com Inc AMZN.O, Apple Inc AAPL.O and Tesla Inc TSLA.O, which tend to perform better during economic uncertainty, were down between 1.4% and 3.7% Cruiseliners RCL.N, NCLH.KCCL.N slid about 3.6%, while carriers United Airlines UAL.O, American Airlines AAL.O and Delta Airlines DAL.N dropped 2.9% as rising COVID-19 cases stoked fears of a delayed recovery in travel demand. By Devik Jain Sept 20 (Reuters) - Wall Street was set to tumble at the open on Monday, as concerns about the pace of an economic recovery hit energy and banking shares at the start of a week in which the Federal Reserve will decide on potentially tapering its pandemic-era stimulus. US/ Wall Street's main indexes have been hurt this month by fears of potentially higher corporate tax rates denting earnings and have shrugged off signs inflation might have peaked.
|
Heavyweight technology-related stocks Microsoft Corp MSFT.O, Google-owner Alphabet Inc GOOGL.O, Amazon.com Inc AMZN.O, Apple Inc AAPL.O and Tesla Inc TSLA.O, which tend to perform better during economic uncertainty, were down between 1.4% and 3.7% Cruiseliners RCL.N, NCLH.KCCL.N slid about 3.6%, while carriers United Airlines UAL.O, American Airlines AAL.O and Delta Airlines DAL.N dropped 2.9% as rising COVID-19 cases stoked fears of a delayed recovery in travel demand. O/R Economy-linked banking stocks including Morgan Stanley MS.N, JPMorgan Chase & Co JPM.N and Bank of America Corp BAC.N slid between 2.2% and 3%, tracking U.S. Treasury yields. The CBOE volatility index .VIX, known as Wall Street's fear gauge, hit its highest level in more than four months.
|
Heavyweight technology-related stocks Microsoft Corp MSFT.O, Google-owner Alphabet Inc GOOGL.O, Amazon.com Inc AMZN.O, Apple Inc AAPL.O and Tesla Inc TSLA.O, which tend to perform better during economic uncertainty, were down between 1.4% and 3.7% Cruiseliners RCL.N, NCLH.KCCL.N slid about 3.6%, while carriers United Airlines UAL.O, American Airlines AAL.O and Delta Airlines DAL.N dropped 2.9% as rising COVID-19 cases stoked fears of a delayed recovery in travel demand. By Devik Jain Sept 20 (Reuters) - Wall Street was set to tumble at the open on Monday, as concerns about the pace of an economic recovery hit energy and banking shares at the start of a week in which the Federal Reserve will decide on potentially tapering its pandemic-era stimulus. O/R Economy-linked banking stocks including Morgan Stanley MS.N, JPMorgan Chase & Co JPM.N and Bank of America Corp BAC.N slid between 2.2% and 3%, tracking U.S. Treasury yields.
|
Heavyweight technology-related stocks Microsoft Corp MSFT.O, Google-owner Alphabet Inc GOOGL.O, Amazon.com Inc AMZN.O, Apple Inc AAPL.O and Tesla Inc TSLA.O, which tend to perform better during economic uncertainty, were down between 1.4% and 3.7% Cruiseliners RCL.N, NCLH.KCCL.N slid about 3.6%, while carriers United Airlines UAL.O, American Airlines AAL.O and Delta Airlines DAL.N dropped 2.9% as rising COVID-19 cases stoked fears of a delayed recovery in travel demand. Oil firms including Chevron CVX.N and Exxon Mobil XOM.N led declines in premarket trading, while economy-sensitive industrials 3M Co MMM.N, Boeing Co BA.N and Caterpillar Inc CAT.N slipped between 2.4% and 3.0%. O/R Economy-linked banking stocks including Morgan Stanley MS.N, JPMorgan Chase & Co JPM.N and Bank of America Corp BAC.N slid between 2.2% and 3%, tracking U.S. Treasury yields.
|
4192.0
|
2021-09-20 00:00:00 UTC
|
US STOCKS-Futures drop over 1% on growth worries; focus turns to Fed
|
AAL
|
https://www.nasdaq.com/articles/us-stocks-futures-drop-over-1-on-growth-worries-focus-turns-to-fed-2021-09-20
|
nan
|
nan
|
By Devik Jain
Sept 20 (Reuters) - U.S. stock futures fell more than 1% on Monday, as concerns about the pace of an economic recovery hit energy and banking sharesat the start of a week in which the Federal Reserve will decide on potentially tapering its pandemic-era stimulus.
Futures tracking the blue-chip Dow index 1YMcv1, which mainly comprises stocks reliant on a steady economic recovery, were down 1.6% at 6:51 a.m. ET at their lowest level since July 20.
Energy shares including Chevron CVX.N and Exxon Mobil XOM.N led declines in premarket trading, while industrials Boeing Co BA.N and Caterpillar Inc CAT.N slipped 1.8% and 1.9%, respectively. O/R
Wall Street's main indexes have been hurt this month by fears of potentially higher corporate tax rates denting earnings and an uneven labor market recovery. The benchmark S&P 500 .SPX is on track to snap a seven-month gaining streak.
All eyes on Wednesday will be on the Fed's policy meeting, where the central bank is expected to lay the groundwork for a tapering, although the consensus is for an actual announcement to be delayed until the November or December meetings. [nL1N2QI1L8]
"In the run-up to Fed meetings, investors are nervous, volatility rises, then the Fed surprises dovishly and volatility declines again," analysts at Berenberg wrote in a note.
"Given that the market has been well prepared for bond purchases to be curtailed and that they are not likely to be immediate, we would expect a similar pattern this time as well."
The CBOE volatility index .VIX, known as Wall Street's fear gauge, hit its highest level in two months.
S&P 500 e-minis EScv1 fell 57.5 points, or 1.3%, and Nasdaq 100 e-minis NQcv1 lost 152.75 points, or 1%.
Global markets including commodities have also been on edge recently over deepening troubles at China Evergrande 3333.HK, the world's most indebted property developer. MKTS/GLOB [nL1N2QM02L]
Economy-linked banking stocks including Morgan Stanley MS.N, JPMorgan Chase & Co JPM.N and Bank of America Corp BAC.N slid between 2.2% and 3%, tracking U.S. Treasury yields. US/
A slate of U.S.-listed Chinese stocks including Weibo Corp WB.O, Bilibili Inc BILI.O, Vipshop Holdings Ltd VIPS.N and Pinduoduo Inc PDD.O shed between 3.4% and 5.4% amid a widening regulatory crackdown in China.
Cruiseliners RCL.N, NCLH.KCCL.N slid about 3%, while carriers United Airlines UAL.O, American Airlines AAL.O and Delta Airlines DAL.N dropped 2% as rising COVID-19 cases stoked fears of a delayed recovery in travel demand.
(Reporting by Devik Jain and Sagarika Jaisinghani in Bengaluru; Editing by Arun Koyyur and Maju Samuel)
((sagarika.jaisinghani@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.
|
Cruiseliners RCL.N, NCLH.KCCL.N slid about 3%, while carriers United Airlines UAL.O, American Airlines AAL.O and Delta Airlines DAL.N dropped 2% as rising COVID-19 cases stoked fears of a delayed recovery in travel demand. By Devik Jain Sept 20 (Reuters) - U.S. stock futures fell more than 1% on Monday, as concerns about the pace of an economic recovery hit energy and banking sharesat the start of a week in which the Federal Reserve will decide on potentially tapering its pandemic-era stimulus. O/R Wall Street's main indexes have been hurt this month by fears of potentially higher corporate tax rates denting earnings and an uneven labor market recovery.
|
Cruiseliners RCL.N, NCLH.KCCL.N slid about 3%, while carriers United Airlines UAL.O, American Airlines AAL.O and Delta Airlines DAL.N dropped 2% as rising COVID-19 cases stoked fears of a delayed recovery in travel demand. By Devik Jain Sept 20 (Reuters) - U.S. stock futures fell more than 1% on Monday, as concerns about the pace of an economic recovery hit energy and banking sharesat the start of a week in which the Federal Reserve will decide on potentially tapering its pandemic-era stimulus. The CBOE volatility index .VIX, known as Wall Street's fear gauge, hit its highest level in two months.
|
Cruiseliners RCL.N, NCLH.KCCL.N slid about 3%, while carriers United Airlines UAL.O, American Airlines AAL.O and Delta Airlines DAL.N dropped 2% as rising COVID-19 cases stoked fears of a delayed recovery in travel demand. By Devik Jain Sept 20 (Reuters) - U.S. stock futures fell more than 1% on Monday, as concerns about the pace of an economic recovery hit energy and banking sharesat the start of a week in which the Federal Reserve will decide on potentially tapering its pandemic-era stimulus. O/R Wall Street's main indexes have been hurt this month by fears of potentially higher corporate tax rates denting earnings and an uneven labor market recovery.
|
Cruiseliners RCL.N, NCLH.KCCL.N slid about 3%, while carriers United Airlines UAL.O, American Airlines AAL.O and Delta Airlines DAL.N dropped 2% as rising COVID-19 cases stoked fears of a delayed recovery in travel demand. By Devik Jain Sept 20 (Reuters) - U.S. stock futures fell more than 1% on Monday, as concerns about the pace of an economic recovery hit energy and banking sharesat the start of a week in which the Federal Reserve will decide on potentially tapering its pandemic-era stimulus. [nL1N2QI1L8] "In the run-up to Fed meetings, investors are nervous, volatility rises, then the Fed surprises dovishly and volatility declines again," analysts at Berenberg wrote in a note.
|
4193.0
|
2021-09-20 00:00:00 UTC
|
American Airlines, Microsoft join Gates-backed program to boost clean energy
|
AAL
|
https://www.nasdaq.com/articles/american-airlines-microsoft-join-gates-backed-program-to-boost-clean-energy-2021-09-20
|
nan
|
nan
|
Sept 20 (Reuters) - Several U.S. companies, including American Airlines Group Inc AAL.O, General Motors GM.N and Microsoft Corp MSFT.O, on Monday build on their commitment to clean energy by joining billionaire and Microsoft co-founder Bill Gates' Breakthrough Energy program.
The initiative aims to boost development of technologies to achieve the target of net-zero carbon emissions by 2050.
Its catalyst program aims to raise money from governments, philanthropists and companies to make capital investments to bring down the cost of clean technology.
Bank of America Corp BAC.N, steelmaker ArcelorMittal SAMT.LU, Boston Consulting Group BAC.N and the philanthropic arm of asset manager BlackRock Inc BLK.N have also joined the program, Breakthrough Energy said on Monday.
American Airlines said in a statement it has invested $100 million. The program will initially focus on four key areas: direct air capture, green hydrogen, long-duration energy storage and sustainable aviation fuel.
The support from U.S. companies comes against the backdrop of President Joe Biden's plans to accelerate carbon cutting. Earlier this month, the White House said it was targeting 20% lower aviation emissions by 2030.
(Reporting by Aishwarya Nair in Bengaluru; Editing by Rashmi Aich)
((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.
|
Sept 20 (Reuters) - Several U.S. companies, including American Airlines Group Inc AAL.O, General Motors GM.N and Microsoft Corp MSFT.O, on Monday build on their commitment to clean energy by joining billionaire and Microsoft co-founder Bill Gates' Breakthrough Energy program. Its catalyst program aims to raise money from governments, philanthropists and companies to make capital investments to bring down the cost of clean technology. Bank of America Corp BAC.N, steelmaker ArcelorMittal SAMT.LU, Boston Consulting Group BAC.N and the philanthropic arm of asset manager BlackRock Inc BLK.N have also joined the program, Breakthrough Energy said on Monday.
|
Sept 20 (Reuters) - Several U.S. companies, including American Airlines Group Inc AAL.O, General Motors GM.N and Microsoft Corp MSFT.O, on Monday build on their commitment to clean energy by joining billionaire and Microsoft co-founder Bill Gates' Breakthrough Energy program. Bank of America Corp BAC.N, steelmaker ArcelorMittal SAMT.LU, Boston Consulting Group BAC.N and the philanthropic arm of asset manager BlackRock Inc BLK.N have also joined the program, Breakthrough Energy said on Monday. Earlier this month, the White House said it was targeting 20% lower aviation emissions by 2030.
|
Sept 20 (Reuters) - Several U.S. companies, including American Airlines Group Inc AAL.O, General Motors GM.N and Microsoft Corp MSFT.O, on Monday build on their commitment to clean energy by joining billionaire and Microsoft co-founder Bill Gates' Breakthrough Energy program. Its catalyst program aims to raise money from governments, philanthropists and companies to make capital investments to bring down the cost of clean technology. Bank of America Corp BAC.N, steelmaker ArcelorMittal SAMT.LU, Boston Consulting Group BAC.N and the philanthropic arm of asset manager BlackRock Inc BLK.N have also joined the program, Breakthrough Energy said on Monday.
|
Sept 20 (Reuters) - Several U.S. companies, including American Airlines Group Inc AAL.O, General Motors GM.N and Microsoft Corp MSFT.O, on Monday build on their commitment to clean energy by joining billionaire and Microsoft co-founder Bill Gates' Breakthrough Energy program. The initiative aims to boost development of technologies to achieve the target of net-zero carbon emissions by 2050. The program will initially focus on four key areas: direct air capture, green hydrogen, long-duration energy storage and sustainable aviation fuel.
|
4194.0
|
2021-09-19 00:00:00 UTC
|
3 Stocks to Avoid This Week
|
AAL
|
https://www.nasdaq.com/articles/3-stocks-to-avoid-this-week-2021-09-19
|
nan
|
nan
|
Every weekend over the past few months I've been trying to single out three stocks that will lose to the market in the week ahead. My three stocks to avoid last week were all over the place -- declining 7%, climbing 3%, and rising 4% -- averaging out to a goose egg as the loser's 7% decline was exactly offset by the smaller gains on the other two picks.
The S&P 500 took a 0.6% hit for the week, so I lost for what is just the third time over the past 13 weeks. Can I get back on track? This week I see Oatly (NASDAQ: OTLY), Stitch Fix (NASDAQ: SFIX), and American Airlines Group (NASDAQ: AAL) as vulnerable investments in the near term. Here's why I think these are three stocks to avoid this week.
Image source: Getty Images.
Oatly
The lone sinker in last week's list was Oatly, sliding 7% as the company behind oat-based milk, yogurt, and frozen desserts faces valuation concerns following an initially well-received springtime IPO. Last week's slide sent it buckling below its initial May pricing of $17.
The stock is more attractively priced than it was a week earlier, but the math is still not kind. Is a company putting out a branded commodity really worth a $9.6 billion market cap on trailing revenue of just $528 million?
Oatly is growing fast as consumers embrace oat-based dairy alternatives, but the entire niche is booming to the point where it will attract cutthroat competitors drawn to the market opportunity. With little differentiation between the products, is a brand name enough to stand out in this low-margin market? Oatly has struck some smart distribution deals and it's ramping up its production volume, but it's hard to justify paying 18 times trailing revenue for a company in its situation.
Stitch Fix
There are only a handful of companies reporting fresh financial results this week, but one name that has me intrigued is Stitch Fix. It was a market darling last year, but the provider of curated wardrobe selections has shed more than two-thirds of its value since peaking in the triple digits back in January.
A lot has happened to Stitch Fix these days. It has brought in new leadership, and like most apparel-delivery specialists it has had to deal with supply constraints and spikes in fulfillment costs. However, the real threat it faces now is that shopping malls are starting to reach pre-pandemic levels again.
Stitch Fix was a smart choice for consumers in a pandemic willing to pay a premium for fashionista-advised e-commerce. With those same 4.1 million active clients itching to hit stores again, can it continue to hold up? Something else to watch were reports last month that a third of its stylists quit after the company enforced an end to its flexible scheduling policy. It will certainly be addressed during the call.
Analysts see a narrowing quarterly loss on a 24% year-over-year increase in revenue when Stitch Fix reports on Tuesday. The stock is depressed now, so even a whiff of good news can send the shares moving in the right direction again. It still has a lot to prove so it makes the cut until there's a fix for Stitch Fix.
American Airlines
There was some turbulence on social media for the legacy carrier last week after a video went viral of a mom and her family who were booted off a departing American Airlines plane after her two-year old toddler wasn't properly wearing a mask while experiencing an asthmatic attack. It was not a good look for the already struggling airline.
There are two sides to every story, and American Airlines did respond to the matter. The air carrier claimed that the crew wasn't informed of the young passenger's asthmatic condition during the incident. American Airlines also pointed out it wasn't just the mask issue, as the family was not complying with crew member requests to remain seated while on an active taxiway. The party was rebooked on a later flight without incident.
Obviously a single flight hiccup isn't reason alone to put American Airlines on this list. The real rub is that the airlines industry in general and American Airlines in particular have had a hard time getting back on track in the new normal. Revenue for American's latest quarter is still 21% below where it was for the same period two years ago. With corporate travel unlikely to make a full recovery and travel restrictions and pandemic-safety concerns keeping leisure travel in check, it's going to be a bumpy flight for American and its peers.
If you're looking for safe stocks, you aren't likely to find them in Oatly, Stitch Fix, and American Airlines this week.
10 stocks we like better than American Airlines Group
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 American Airlines Group 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 September 17, 2021
Rick Munarriz has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Stitch Fix. 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.
|
This week I see Oatly (NASDAQ: OTLY), Stitch Fix (NASDAQ: SFIX), and American Airlines Group (NASDAQ: AAL) as vulnerable investments in the near term. Oatly is growing fast as consumers embrace oat-based dairy alternatives, but the entire niche is booming to the point where it will attract cutthroat competitors drawn to the market opportunity. Oatly has struck some smart distribution deals and it's ramping up its production volume, but it's hard to justify paying 18 times trailing revenue for a company in its situation.
|
This week I see Oatly (NASDAQ: OTLY), Stitch Fix (NASDAQ: SFIX), and American Airlines Group (NASDAQ: AAL) as vulnerable investments in the near term. If you're looking for safe stocks, you aren't likely to find them in Oatly, Stitch Fix, and American Airlines this week. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
|
This week I see Oatly (NASDAQ: OTLY), Stitch Fix (NASDAQ: SFIX), and American Airlines Group (NASDAQ: AAL) as vulnerable investments in the near term. American Airlines There was some turbulence on social media for the legacy carrier last week after a video went viral of a mom and her family who were booted off a departing American Airlines plane after her two-year old toddler wasn't properly wearing a mask while experiencing an asthmatic attack. If you're looking for safe stocks, you aren't likely to find them in Oatly, Stitch Fix, and American Airlines this week.
|
This week I see Oatly (NASDAQ: OTLY), Stitch Fix (NASDAQ: SFIX), and American Airlines Group (NASDAQ: AAL) as vulnerable investments in the near term. Here's why I think these are three stocks to avoid this week. Stitch Fix There are only a handful of companies reporting fresh financial results this week, but one name that has me intrigued is Stitch Fix.
|
4195.0
|
2021-09-19 00:00:00 UTC
|
American Airlines and Gol Deepen Partnership
|
AAL
|
https://www.nasdaq.com/articles/american-airlines-and-gol-deepen-partnership-2021-09-19
|
nan
|
nan
|
Two years ago, American Airlines' (NASDAQ: AAL) plan to form a joint venture with South American airline giant LATAM Airlines fell apart after Chile's Supreme Court ruled that the deal would be anticompetitive. Within months, the U.S. airline giant found a new partner in South America: Gol Linhas Aereas (NYSE: GOL).
Last week, American Airlines announced that it plans to invest $200 million in Gol's preferred shares to take a 5.2% economic interest in the Brazilian airline. The two airlines also plan to deepen their cooperation. Let's take a look at why this move is so important for American's long-term health.
The growing importance of partnerships for Brazil
Thanks to its hub in Miami, American Airlines has had a significantly larger presence in South America -- especially in Brazil -- than any other U.S. airline for many years. Around the time that it merged with US Airways in late 2013, American Airlines flew to nine destinations in Brazil and planned to keep growing there.
However, Brazil's economic growth had already begun to slow by then. Conditions worsened in 2015, as Brazil fell into a deep recession that lasted for two years. The economy began to recover in 2017, but at a slow pace -- and GDP plunged 4.1% in 2020 due to the impact of the COVID-19 pandemic.
Making matters worse, Brazil's currency (the real) has depreciated rapidly over the past 10 years. A decade ago, one real was worth nearly $0.60. Today, one real is worth less than $0.20. This has eroded Brazilians' purchasing power abroad, crushing outbound tourist demand from Brazil to the U.S.
Brazilian Real to U.S. Dollar Exchange Rate, data by YCharts.
As a result, it has become harder and harder for U.S. airlines to fly to Brazil profitably. American Airlines has steadily cut back service to Brazil since 2015. Since the pandemic hit last year, the carrier has ended its last two secondary market routes to Brazil. Now, it only flies to the country's two largest cities: Sao Paulo and Rio de Janeiro.
The difficulty of operating profitably in Brazil has made partnerships critical to U.S. airlines' success there. Teaming up with Brazilian airlines allows them to sell connecting flights from Sao Paulo and Rio de Janeiro to secondary cities in order to provide broad market coverage and fill more seats.
American Airlines and Gol expand their ties
Last February, American and Gol announced a reciprocal codeshare agreement. At the time, American Airlines said the partnership would give its customers access to 20 new destinations in South America (mainly in Brazil, where Gol is the largest domestic airline).
The new agreement was finalized last week, and it makes American Airlines and Gol exclusive codeshare partners in their respective markets for at least three years. The two airlines will implement a joint loyalty program that gives customers more options for earning and redeeming miles. Additionally, they will offer reciprocal benefits like priority boarding, lounge access, and preferred seats for elite loyalty members.
Image source: American Airlines.
American and Gol are also discussing options for further cooperation. Finally, American Airlines will get a seat on Gol's board to solidify the partnership.
A critical partnership for American Airlines
Considering its weak financial results and massive debt load, American Airlines might prefer not to invest $200 million in a foreign airline. However, it has little choice.
First, American Airlines has struggled to build a defensible business in Asia, whereas it is the top U.S. airline in Latin America. As a result, it generated about 45% of its international revenue in Latin America in 2019; roughly twice as much as its main U.S. rivals. That makes success in the region crucial for American's long-term health -- and Brazil is the largest market in Latin America.
Second, after American's plan to form a joint venture with LATAM fell through, Delta Air Lines swooped in to take its place. Assuming regulators approve the Delta-LATAM joint venture (which seems likely), American Airlines will face significantly tougher competition between the U.S. and South America going forward.
Thus, American Airlines must maintain its leadership position in Brazil -- and South America more broadly -- at all costs. Expanded cooperation with Gol maximizes its chances of success.
10 stocks we like better than American Airlines Group
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 American Airlines Group 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 September 17, 2021
Adam Levine-Weinberg owns shares of Delta Air Lines. 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.
|
Two years ago, American Airlines' (NASDAQ: AAL) plan to form a joint venture with South American airline giant LATAM Airlines fell apart after Chile's Supreme Court ruled that the deal would be anticompetitive. Teaming up with Brazilian airlines allows them to sell connecting flights from Sao Paulo and Rio de Janeiro to secondary cities in order to provide broad market coverage and fill more seats. The new agreement was finalized last week, and it makes American Airlines and Gol exclusive codeshare partners in their respective markets for at least three years.
|
Two years ago, American Airlines' (NASDAQ: AAL) plan to form a joint venture with South American airline giant LATAM Airlines fell apart after Chile's Supreme Court ruled that the deal would be anticompetitive. Last week, American Airlines announced that it plans to invest $200 million in Gol's preferred shares to take a 5.2% economic interest in the Brazilian airline. Second, after American's plan to form a joint venture with LATAM fell through, Delta Air Lines swooped in to take its place.
|
Two years ago, American Airlines' (NASDAQ: AAL) plan to form a joint venture with South American airline giant LATAM Airlines fell apart after Chile's Supreme Court ruled that the deal would be anticompetitive. The growing importance of partnerships for Brazil Thanks to its hub in Miami, American Airlines has had a significantly larger presence in South America -- especially in Brazil -- than any other U.S. airline for many years. A critical partnership for American Airlines Considering its weak financial results and massive debt load, American Airlines might prefer not to invest $200 million in a foreign airline.
|
Two years ago, American Airlines' (NASDAQ: AAL) plan to form a joint venture with South American airline giant LATAM Airlines fell apart after Chile's Supreme Court ruled that the deal would be anticompetitive. The growing importance of partnerships for Brazil Thanks to its hub in Miami, American Airlines has had a significantly larger presence in South America -- especially in Brazil -- than any other U.S. airline for many years. At the time, American Airlines said the partnership would give its customers access to 20 new destinations in South America (mainly in Brazil, where Gol is the largest domestic airline).
|
4196.0
|
2021-09-17 00:00:00 UTC
|
U.S. senator concerned American, JetBlue partnership will raise prices
|
AAL
|
https://www.nasdaq.com/articles/u.s.-senator-concerned-american-jetblue-partnership-will-raise-prices-2021-09-17
|
nan
|
nan
|
WASHINGTON, Sept 17 (Reuters) - U.S. Senator Richard Blumenthal, a Democrat who has been outspoken on antitrust issues, expressed concern to the Transportation Department on Friday that a partnership between American Airlines AAL.O and JetBlue Airways JBLU.O would lead to higher airfares.
The airlines' "Northeast Alliance" partnership was announced in July 2020 and approved by the Transportation Department six months later, shortly before the end of the Trump administration.
The codeshare 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.O and Delta Air Lines DAL.N in the U.S. Northeast.
"I write with grave concerns that the recent joint partnership between American Airlines and JetBlue Airways will lead to anticompetitive coordination at key air traffic hubs and result in the long-term inflation of airfares and related costs for airline passengers," Blumenthal said in a letter to U.S. Transportation Secretary Pete Buttigieg.
Blumenthal urged a "full public interest review and investigation of the Northeast Alliance cooperative agreement," noting that President Joe Biden had signed an executive order on competition in July. Blumenthal cited the White House as saying that the top four airlines had nearly two-thirds of the U.S. domestic market.
"I am concerned that the Northeast Alliance is exactly the kind of arrangement that has led us to this point and that will lead to even further consolidation in an already overly concentrated industry. Under the circumstances, this arrangement deserves more scrutiny," he wrote.
In a statement, JetBlue said the partnership allowed the two airlines to give Delta and United real competition.
JetBlue said its access to American's slots would mean that it could "bring the JetBlue effect of lowering fares and stimulating demand to more routes in and out of the Northeast."
The Transportation Department on Thursday said it planned to award 16 take-off and landing slots at Newark Liberty International Airport to a yet-to-be-determined low-cost carrier, and said it could take action to boost competition at other major airports.
(Reporting by Diane Bartz and David Shepardson Editing by Paul Simao)
((Diane.Bartz@thomsonreuters.com; 1 202 898 8313;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Senator Richard Blumenthal, a Democrat who has been outspoken on antitrust issues, expressed concern to the Transportation Department on Friday that a partnership between American Airlines AAL.O and JetBlue Airways JBLU.O would lead to higher airfares. The codeshare 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.O and Delta Air Lines DAL.N in the U.S. Northeast. Blumenthal urged a "full public interest review and investigation of the Northeast Alliance cooperative agreement," noting that President Joe Biden had signed an executive order on competition in July.
|
Senator Richard Blumenthal, a Democrat who has been outspoken on antitrust issues, expressed concern to the Transportation Department on Friday that a partnership between American Airlines AAL.O and JetBlue Airways JBLU.O would lead to higher airfares. "I write with grave concerns that the recent joint partnership between American Airlines and JetBlue Airways will lead to anticompetitive coordination at key air traffic hubs and result in the long-term inflation of airfares and related costs for airline passengers," Blumenthal said in a letter to U.S. Transportation Secretary Pete Buttigieg. In a statement, JetBlue said the partnership allowed the two airlines to give Delta and United real competition.
|
Senator Richard Blumenthal, a Democrat who has been outspoken on antitrust issues, expressed concern to the Transportation Department on Friday that a partnership between American Airlines AAL.O and JetBlue Airways JBLU.O would lead to higher airfares. The codeshare 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.O and Delta Air Lines DAL.N in the U.S. Northeast. "I write with grave concerns that the recent joint partnership between American Airlines and JetBlue Airways will lead to anticompetitive coordination at key air traffic hubs and result in the long-term inflation of airfares and related costs for airline passengers," Blumenthal said in a letter to U.S. Transportation Secretary Pete Buttigieg.
|
Senator Richard Blumenthal, a Democrat who has been outspoken on antitrust issues, expressed concern to the Transportation Department on Friday that a partnership between American Airlines AAL.O and JetBlue Airways JBLU.O would lead to higher airfares. WASHINGTON, Sept 17 (Reuters) - U.S. The airlines' "Northeast Alliance" partnership was announced in July 2020 and approved by the Transportation Department six months later, shortly before the end of the Trump administration.
|
4197.0
|
2021-09-17 00:00:00 UTC
|
Notable Friday Option Activity: JNJ, F, AAL
|
AAL
|
https://www.nasdaq.com/articles/notable-friday-option-activity%3A-jnj-f-aal-2021-09-17
|
nan
|
nan
|
Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Johnson & Johnson (Symbol: JNJ), where a total of 27,782 contracts have traded so far, representing approximately 2.8 million underlying shares. That amounts to about 48% of JNJ's average daily trading volume over the past month of 5.8 million shares. Particularly high volume was seen for the $170 strike call option expiring October 15, 2021, with 4,947 contracts trading so far today, representing approximately 494,700 underlying shares of JNJ. Below is a chart showing JNJ's trailing twelve month trading history, with the $170 strike highlighted in orange:
Ford Motor Co. (Symbol: F) saw options trading volume of 265,685 contracts, representing approximately 26.6 million underlying shares or approximately 47.1% of F's average daily trading volume over the past month, of 56.4 million shares. Especially high volume was seen for the $13.50 strike call option expiring September 17, 2021, with 33,250 contracts trading so far today, representing approximately 3.3 million underlying shares of F. Below is a chart showing F's trailing twelve month trading history, with the $13.50 strike highlighted in orange:
And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 129,909 contracts, representing approximately 13.0 million underlying shares or approximately 44.7% of AAL's average daily trading volume over the past month, of 29.1 million shares. Especially high volume was seen for the $20 strike put option expiring September 17, 2021, with 12,205 contracts trading so far today, representing approximately 1.2 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $20 strike highlighted in orange:
For the various different available expirations for JNJ options, F options, or AAL 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.
|
Especially high volume was seen for the $20 strike put option expiring September 17, 2021, with 12,205 contracts trading so far today, representing approximately 1.2 million underlying shares of AAL. Especially high volume was seen for the $13.50 strike call option expiring September 17, 2021, with 33,250 contracts trading so far today, representing approximately 3.3 million underlying shares of F. Below is a chart showing F's trailing twelve month trading history, with the $13.50 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 129,909 contracts, representing approximately 13.0 million underlying shares or approximately 44.7% of AAL's average daily trading volume over the past month, of 29.1 million shares. Below is a chart showing AAL's trailing twelve month trading history, with the $20 strike highlighted in orange: For the various different available expirations for JNJ options, F options, or AAL options, visit StockOptionsChannel.com.
|
Especially high volume was seen for the $13.50 strike call option expiring September 17, 2021, with 33,250 contracts trading so far today, representing approximately 3.3 million underlying shares of F. Below is a chart showing F's trailing twelve month trading history, with the $13.50 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 129,909 contracts, representing approximately 13.0 million underlying shares or approximately 44.7% of AAL's average daily trading volume over the past month, of 29.1 million shares. Especially high volume was seen for the $20 strike put option expiring September 17, 2021, with 12,205 contracts trading so far today, representing approximately 1.2 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $20 strike highlighted in orange: For the various different available expirations for JNJ options, F options, or AAL options, visit StockOptionsChannel.com.
|
Especially high volume was seen for the $13.50 strike call option expiring September 17, 2021, with 33,250 contracts trading so far today, representing approximately 3.3 million underlying shares of F. Below is a chart showing F's trailing twelve month trading history, with the $13.50 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 129,909 contracts, representing approximately 13.0 million underlying shares or approximately 44.7% of AAL's average daily trading volume over the past month, of 29.1 million shares. Especially high volume was seen for the $20 strike put option expiring September 17, 2021, with 12,205 contracts trading so far today, representing approximately 1.2 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $20 strike highlighted in orange: For the various different available expirations for JNJ options, F options, or AAL options, visit StockOptionsChannel.com.
|
Especially high volume was seen for the $13.50 strike call option expiring September 17, 2021, with 33,250 contracts trading so far today, representing approximately 3.3 million underlying shares of F. Below is a chart showing F's trailing twelve month trading history, with the $13.50 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 129,909 contracts, representing approximately 13.0 million underlying shares or approximately 44.7% of AAL's average daily trading volume over the past month, of 29.1 million shares. Especially high volume was seen for the $20 strike put option expiring September 17, 2021, with 12,205 contracts trading so far today, representing approximately 1.2 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $20 strike highlighted in orange: For the various different available expirations for JNJ options, F options, or AAL options, visit StockOptionsChannel.com.
|
4198.0
|
2021-09-17 00:00:00 UTC
|
3 Travel Stocks to Buy Even in These Touchy Times
|
AAL
|
https://www.nasdaq.com/articles/3-travel-stocks-to-buy-even-in-these-touchy-times-2021-09-17
|
nan
|
nan
|
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Travel stocks have had a rough time, mostly because the industry is proving to be a mixed bag these days.
On one hand, vaccinated Americans seem eager to vacation again and revisit their favorite destinations. On the other hand, a surge in the Delta variant of Covid-19 and speculation that vaccine mandates for air travelers might be forthcoming seems to have cooled off the industry.
Yet despite these touchy times, there remain a number of leading travel stocks that offer great investment opportunities and are managing to outperform the broader stock market right now.
7 Cheap Stocks to Buy If You Have $250 to Spend
These are companies whose stocks offer the potential for strong gains . Here are three travel stocks to buy even in these uncertain times that we continue to live in.
Caesars Entertainment (NASDAQ:CZR)
Delta Airlines (NYSE:DAL)
Airbnb (NASDAQ:ABNB)
Travel Stocks to Buy: Caesars Entertainment (CZR)
CZR) in Las Vegas" width="300" height="169">
Source: Jason Patrick Ross/Shutterstock.com
Vegas, baby! The hotel and casino operator whose flagship properties, Caesars Palace and The Flamingo, are synonymous with the gambling mecca that is Las Vegas, is a solid bet as the economy continues to strengthen and people get out and travel once again.
Year-to-date, CZR stock is up 51% at more than $108 per share. In the past month alone the stock has risen more thn 17%. Caesars Entertainment’s shares have continued to appreciate while many other casino operators have fallen on fears that the Chinese government is cracking down on gambling.
Unlike many other U.S.-based casino operators that have operations based in China and throughout Europe, all of Caesars Entertainment’s hotels and casinos are situated in America, with the exception of one property that is based in Windsor, Ontario, Canada across the river from Detroit.
The majority of Caesars 50 properties are located in and around Las Vegas and Reno or in Atlantic City. While Caesars has been criticized in the past for not expanding internationally, the company’s homegrown strategy now insulates it from overseas volatility.
Delta Airlines (DAL)
Source: EQRoy / Shutterstock.com
If you’re going to roll the dice on an airline stock right now, Delta looks like the safest bet.
While other airlines such as Southwest (NYSE:LUV) grapple with pilot shortages and scheduling chaos and American Airlines (NASDAQ:AAL) wrestles with record debt levels, Delta Airlines looks comparatively healthy and stable.
The Atlanta-based carrier has the lowest debt level and best profit margins of any U.S. airlines coming out of the pandemic. Delta recently announced that it is buying back $1 billion of high-cost bonds that it issued during the pandemic and raised $1.5 billion of cash in the latest quarter, ending its Covid-19 cash burn.
7 A-Rated Tech Stocks to Buy and Hold Now
While Delta Airlines has followed other carriers and lowered its forward guidance for the remainder of this year as resurgent Covid-19 cases hamper the travel industry, the airline still expects to report a profit for the current third quarter.
The company also is in the midst of revitalizing its fleet by the end of 2025, replacing its oldest planes with state-of-the-art models. This should help the company achieve fuel savings of more than 5%. All the positive news has not had a great impact on DAL stock, which is up only 3% on the year, trading today around $40.
However, Investors should take heart from the fact that the median price target on DAL stock is $55 per share, suggesting that the stock could rise from its current price.
Travel Stocks to Buy: Airbnb (ABNB)
ABNB) logo outside a home in Estonia." width="300" height="169">
Source: AlesiaKan / Shutterstock.com
Vacation rental and homestay company Airbnb looks to have finally turned a corner. While the broader market has been slumping throughout September, ABNB stock has climbed 11% in the past month to more than $168 per share.
It’s a welcome reversal for shareholders who have had to watch as Airbnb stock has declined steadily from a mid-February peak of $219.94.
Year-to-date, Airbnb shares are now up nearly 30%. Investors will be hoping the company can sustain the momentum through the final quarter of this year and into 2022.
The rally in ABNB was sparked by the company announcing that it has reached a record level of reservations for booked travel and that its current reservations are 40% higher than in 2019 before the global pandemic.
That was the news Wall Street had been waiting to hear. Plus, the increased bookings through its portal are not confined to the U.S. but are being seen around the world. Airbnb currently has more than seven million properties for rent in 220 countries. The company’s popularity shows no signs of waning any time soon.
Disclosure: On the date of publication, Joel Baglole held a long position in LUV. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.
The post 3 Travel Stocks to Buy Even in These Touchy Times 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.
|
While other airlines such as Southwest (NYSE:LUV) grapple with pilot shortages and scheduling chaos and American Airlines (NASDAQ:AAL) wrestles with record debt levels, Delta Airlines looks comparatively healthy and stable. On the other hand, a surge in the Delta variant of Covid-19 and speculation that vaccine mandates for air travelers might be forthcoming seems to have cooled off the industry. The hotel and casino operator whose flagship properties, Caesars Palace and The Flamingo, are synonymous with the gambling mecca that is Las Vegas, is a solid bet as the economy continues to strengthen and people get out and travel once again.
|
While other airlines such as Southwest (NYSE:LUV) grapple with pilot shortages and scheduling chaos and American Airlines (NASDAQ:AAL) wrestles with record debt levels, Delta Airlines looks comparatively healthy and stable. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Travel stocks have had a rough time, mostly because the industry is proving to be a mixed bag these days. Caesars Entertainment (NASDAQ:CZR) Delta Airlines (NYSE:DAL) Airbnb (NASDAQ:ABNB) Travel Stocks to Buy: Caesars Entertainment (CZR) CZR) in Las Vegas" width="300" height="169"> Source: Jason Patrick Ross/Shutterstock.com Vegas, baby!
|
While other airlines such as Southwest (NYSE:LUV) grapple with pilot shortages and scheduling chaos and American Airlines (NASDAQ:AAL) wrestles with record debt levels, Delta Airlines looks comparatively healthy and stable. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Travel stocks have had a rough time, mostly because the industry is proving to be a mixed bag these days. Caesars Entertainment (NASDAQ:CZR) Delta Airlines (NYSE:DAL) Airbnb (NASDAQ:ABNB) Travel Stocks to Buy: Caesars Entertainment (CZR) CZR) in Las Vegas" width="300" height="169"> Source: Jason Patrick Ross/Shutterstock.com Vegas, baby!
|
While other airlines such as Southwest (NYSE:LUV) grapple with pilot shortages and scheduling chaos and American Airlines (NASDAQ:AAL) wrestles with record debt levels, Delta Airlines looks comparatively healthy and stable. Yet despite these touchy times, there remain a number of leading travel stocks that offer great investment opportunities and are managing to outperform the broader stock market right now. Caesars Entertainment (NASDAQ:CZR) Delta Airlines (NYSE:DAL) Airbnb (NASDAQ:ABNB) Travel Stocks to Buy: Caesars Entertainment (CZR) CZR) in Las Vegas" width="300" height="169"> Source: Jason Patrick Ross/Shutterstock.com Vegas, baby!
|
4199.0
|
2021-09-17 00:00:00 UTC
|
European shares set for weekly gains as travel stocks soar
|
AAL
|
https://www.nasdaq.com/articles/european-shares-set-for-weekly-gains-as-travel-stocks-soar-2021-09-17-0
|
nan
|
nan
|
By Sruthi Shankar
Sept 17 (Reuters) - European stocks were on track for weekly gains on Friday as news that Britain was mulling easing travel restrictions boosted airlines and hotel groups, while a rebound in luxury stocks also supported the main indexes.
The pan-European STOXX 600 index .STOXX rose 0.5%, reversing losses earlier this week on worries about slowing global growth and tighter regulation of Chinese firms.
After closing up 3.4% on Thursday in one of the best single-day performances this year, the European travel and leisure index .SXTP added 1.1%.
Wizz Air WIZZ.L, British-Airways-owner IAG ICAG.L and InterContinental Hotels IHG.L rose between 0.5% and 4.0% after Britain considered easing its COVID-19 rules for international travel. .L
"The one area that has surprised and continues to surprise is Europe. We've U.S. and China where data looks like they're slowing a little bit," said Adam Mac Nulty, portfolio manager at Brandes Investment Partners.
"Next year, we're looking at high single-digit EPS growth in Europe and for a market that is trading at mid-teen multiples, we think that is attractive."
China-exposed luxury stocks such as LVMH LVMH.PA, Kering PRTP.PA, Hermes HRMS.PA and Richemont CFR.S rebounded, following sharp losses earlier this week on fears of fresh coronavirus-related restrictions and regulatory moves in China.
France's CAC 40 .FCHI and Spain's IBEX .IBEX outperformed regional peers with a 1.0% and 1.2% gain, respectively.
While European stock markets looked set to end the week on a steady footing, next week could be pivotal in determining near-term market direction, with the U.S. Federal Reserve and the Bank of England's policy meetings, as well as German elections on deck.
Germany's Commerzbank CBKG.DE climbed 4.4% after a Handelsblatt report said U.S. investor Cerberus was considering taking a 15.6% state in the bank after the federal election.
Miners took a hit, with Anglo American AAL.L tumbling 3.8% after Morgan Stanley and UBS downgraded the stock. Worries about slowing Chinese growth put the European mining index .SXPP on course for a 5% weekly decline.
Investors also largely looked past data that showed British retail sales unexpectedly fell again in August in what is now a record streak of monthly declines. .L
(Reporting by Sruthi Shankar in Bengaluru; Editing by Shounak Dasgupta)
((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.
|
Miners took a hit, with Anglo American AAL.L tumbling 3.8% after Morgan Stanley and UBS downgraded the stock. The pan-European STOXX 600 index .STOXX rose 0.5%, reversing losses earlier this week on worries about slowing global growth and tighter regulation of Chinese firms. China-exposed luxury stocks such as LVMH LVMH.PA, Kering PRTP.PA, Hermes HRMS.PA and Richemont CFR.S rebounded, following sharp losses earlier this week on fears of fresh coronavirus-related restrictions and regulatory moves in China.
|
Miners took a hit, with Anglo American AAL.L tumbling 3.8% after Morgan Stanley and UBS downgraded the stock. By Sruthi Shankar Sept 17 (Reuters) - European stocks were on track for weekly gains on Friday as news that Britain was mulling easing travel restrictions boosted airlines and hotel groups, while a rebound in luxury stocks also supported the main indexes. The pan-European STOXX 600 index .STOXX rose 0.5%, reversing losses earlier this week on worries about slowing global growth and tighter regulation of Chinese firms.
|
Miners took a hit, with Anglo American AAL.L tumbling 3.8% after Morgan Stanley and UBS downgraded the stock. By Sruthi Shankar Sept 17 (Reuters) - European stocks were on track for weekly gains on Friday as news that Britain was mulling easing travel restrictions boosted airlines and hotel groups, while a rebound in luxury stocks also supported the main indexes. The pan-European STOXX 600 index .STOXX rose 0.5%, reversing losses earlier this week on worries about slowing global growth and tighter regulation of Chinese firms.
|
Miners took a hit, with Anglo American AAL.L tumbling 3.8% after Morgan Stanley and UBS downgraded the stock. By Sruthi Shankar Sept 17 (Reuters) - European stocks were on track for weekly gains on Friday as news that Britain was mulling easing travel restrictions boosted airlines and hotel groups, while a rebound in luxury stocks also supported the main indexes. The pan-European STOXX 600 index .STOXX rose 0.5%, reversing losses earlier this week on worries about slowing global growth and tighter regulation of Chinese firms.
|
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.