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5600.0
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2020-06-29 00:00:00 UTC
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Why Airline Shares Are Up Today
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AAL
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https://www.nasdaq.com/articles/why-airline-shares-are-up-today-2020-06-29
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nan
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nan
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What happened
Airline shares soared higher on Monday after a prominent Wall Street analyst came out with a bullish report on the sector. It's a "risk on" day on Wall Street, with broader markets brushing off spikes in COVID-19 cases and focusing on economic data. Airline shares are going along for the ride.
Shares of Southwest Airlines (NYSE: LUV) are leading the sector higher, up 10% as of 2:30 p.m. EST, while shares of American Airlines Group (NASDAQ: AAL) and Spirit Airlines (NYSE: SAVE) are both up 8% apiece. United Airlines Holdings (NASDAQ: UAL), Delta Air Lines (NYSE: DAL), JetBlue Airways (NASDAQ: JBLU), Alaska Air Group (NYSE: ALK), and Hawaiian Holdings (NASDAQ: HA) are all up more than 6%.
So what
Airlines have been hit hard by the pandemic. The industry expecting second-quarter revenue to fall 90% year over year. We've seen the early signs of a recovery in travel demand, but the industry is still vulnerable as new cases soar in Florida, Texas, California, and other key tourist destinations.
But Goldman Sachs analyst Catherine O'Brien is feeling more confident the airlines can survive the downturn, issuing a double upgrade of Southwest and raising her price target on a number of other airlines. O'Brien in a note wrote that passenger volumes are rising off of April lows, and there appears to be pent-up demand for air travel.
Image source: Getty Images.
Traffic volumes remain well off last year's levels, but O'Brien notes airlines have made steady progress bringing down cash burn rates to better survive the downturn. The analyst raised her price target on Alaska Air to $63 from $51, Delta to $38 from $33, United to $61 from $40, Spirit to $20 from $15, and JetBlue to $17 from $12.
There wasn't much good news concerning new COVID-19 cases over the weekend, with the numbers continuing to spike in a number of states. But Monday did bring positive economic data that provided markets reason for hope. Pending home sales climbed much faster than expected, a hopeful sign that the pandemic has not brought the economy to a grinding halt.
Boeing also got a lift as its grounded 737 Max took flight Monday for a recertification flight. While airlines remain in survival mode and aren't clamoring for new deliveries, a number of the largest U.S. airlines have 737 Max planes on order. Getting the plane back in service is important to the long-term future of the industry.
Now what
Back in March, when the pandemic battered markets, the fear among investors was that the crisis would force a number of airlines into bankruptcy. Thanks to the airlines' success in raising both private funds and government assistance, that fear has diminished, but the airlines still face a rough patch up ahead.
Even in the best-case scenario, it's going to take years for schedules to fully recover to pre-pandemic levels. The airlines are prohibited from doing layoffs through Sept. 30 as a condition for receiving government assistance but appear likely to reduce headcount this fall. This will be a smaller industry for the foreseeable future.
If the pandemic does force another round of closures around the U.S., that timeline could be stretched out even further. For those with a long time horizon and a tolerance for risk, I think it's safe to buy into airline stocks, but keep the sector as a small part of a large, diverse portfolio and focus on top names with the strongest businesses.
10 stocks we like better than JetBlue Airways
When investing geniuses David and Tom Gardner have 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.*
David and Tom 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 June 2, 2020
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 Alaska Air Group, Delta Air Lines, Hawaiian Holdings, JetBlue Airways, and Southwest Airlines. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of Southwest Airlines (NYSE: LUV) are leading the sector higher, up 10% as of 2:30 p.m. EST, while shares of American Airlines Group (NASDAQ: AAL) and Spirit Airlines (NYSE: SAVE) are both up 8% apiece. We've seen the early signs of a recovery in travel demand, but the industry is still vulnerable as new cases soar in Florida, Texas, California, and other key tourist destinations. Traffic volumes remain well off last year's levels, but O'Brien notes airlines have made steady progress bringing down cash burn rates to better survive the downturn.
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Shares of Southwest Airlines (NYSE: LUV) are leading the sector higher, up 10% as of 2:30 p.m. EST, while shares of American Airlines Group (NASDAQ: AAL) and Spirit Airlines (NYSE: SAVE) are both up 8% apiece. United Airlines Holdings (NASDAQ: UAL), Delta Air Lines (NYSE: DAL), JetBlue Airways (NASDAQ: JBLU), Alaska Air Group (NYSE: ALK), and Hawaiian Holdings (NASDAQ: HA) are all up more than 6%. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Lou Whiteman owns shares of Delta Air Lines and Spirit Airlines.
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Shares of Southwest Airlines (NYSE: LUV) are leading the sector higher, up 10% as of 2:30 p.m. EST, while shares of American Airlines Group (NASDAQ: AAL) and Spirit Airlines (NYSE: SAVE) are both up 8% apiece. United Airlines Holdings (NASDAQ: UAL), Delta Air Lines (NYSE: DAL), JetBlue Airways (NASDAQ: JBLU), Alaska Air Group (NYSE: ALK), and Hawaiian Holdings (NASDAQ: HA) are all up more than 6%. The Motley Fool recommends Alaska Air Group, Delta Air Lines, Hawaiian Holdings, JetBlue Airways, and Southwest Airlines.
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Shares of Southwest Airlines (NYSE: LUV) are leading the sector higher, up 10% as of 2:30 p.m. EST, while shares of American Airlines Group (NASDAQ: AAL) and Spirit Airlines (NYSE: SAVE) are both up 8% apiece. It's a "risk on" day on Wall Street, with broader markets brushing off spikes in COVID-19 cases and focusing on economic data. Traffic volumes remain well off last year's levels, but O'Brien notes airlines have made steady progress bringing down cash burn rates to better survive the downturn.
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ac5d1287-c20f-41be-ae5d-074ef1bd3d34
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5601.0
|
2020-06-29 00:00:00 UTC
|
Despite Second-Wave Fears, Buy JetBlue Stock on Weakness
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AAL
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https://www.nasdaq.com/articles/despite-second-wave-fears-buy-jetblue-stock-on-weakness-2020-06-29
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
What’s next for JetBlue (NASDAQ:JBLU) stock? Like the company’s rivals, its shares soared earlier this month, as investors placed their bets on a comeback by the airlines. But, as novel coronavirus cases have started to surge again, JetBlue’s shares are starting to pull back.
Source: Roman Tiraspolsky / Shutterstock.com
In short, we could soon be back to square one with the virus, and airline stocks have yet to retest their lows. Moreover, since some U.S. states are imposing strict quarantine rules for out-of-state travelers, the demand for air travel could become further depressed in the short-term.
Given these points, there’s a good chance that airline stocks will continue to head lower.
Older airlines like American Airlines (NASDAQ:AAL), which faces more hurdles than its peers, could drop meaningfully after their recent surge. But, even as the industry’s prospects remain very dire. low-cost names like JetBlue could be worth buying right now.
That’s because JetBlue has little international exposure. Boding well for JetBlue, many say that domestic travel will pick up quicker than international flights. And as a low-cost carrier, it will be easier for the company to get out of the red. That may explain why analysts think the airline will return to profitability in 2021, as InvestorPlace contributor Bret Kenwell wrote in his June 22 column.
So, does that make the shares worth buying today? Yes and no. The company still faces many risks. But as the shares creep back to the single digits, a solid entry point may be on the horizon.
10 Value Stocks to Keep on Your Short List
Why JBLU Stock Is a Better Airline Comeback Play Than AAL Stock
There are a lot of interesting dynamics playing out in today’s stock market. But one of the most intriguing is how “new school” investors are making contrarian bets on “old school” airlines.
Take a look at Robinhood’s list of most popular stocks. American Airlines, the most financially weak carrier, is number three on the list. And that’s not because it has the highest market cap among airline stocks. Delta Air Lines (NYSE:DAL), which ranks fifth on the list, has a much larger market cap.
So, rebound potential, rather than size, is probably driving “new school” investors into American Airlines. But the troubled carrier is not the best play on a comeback by airlines.
JBLU stock looks poised to climb the most of all the airlines if a rapid recovery does take hold. As I mentioned above, JetBlue’s lack of international exposure may cause it to rebound faster. American, which is more dependent on international flights, may take longer to recover. And JetBlue’s lower cost structure may give it a shorter return flight to profitability. Another advantage the airline has is its “point-to-point” carrier model. This model may allow it to resume operations more smoothly than its older rivals. The “old school” names still use the “hub and spoke” model. As I pointed out in my previous column, ” instead of routing flights through a centralized ‘hub’ airport, JetBlue’s focus is on direct flights from one city to another.”
JetBlue’s Strong Balance Sheet May Minimize Further Declines
Granted, JetBlue’s advantages don’t guarantee a quick rebound by JBLU stock. In the end, the level of overall air traffic levels will determine the shares’ performance.
Yet, even if the sector doesn’t recover until well into 2021, the airline may be able to withstand the drought.
As I wrote back in May, heading into 2020, JetBlue was second to Southwest in terms of balance sheet strength. Given JetBlue’s ample liquidity which should enable it to ride out the sector’s headwinds, the stock’s risk may be lower than that of its peers.
Yet that may not mean that the stock is a steal. But, as the shares start to head lower, after getting ahead of themselves earlier this month, they may now be reaching a more attractive entry point.
Consider JBLU Stock a Contrarian Buy
Many investors looking to make contrarian bets have bid up older airlines like American. But JetBlue’s prospects appear to be much stronger.
JetB;ue, which is less tied to international travel and has lower costs than many of its older peers, is a much stronger comeback play. As JetBlue’s shares pull back to single digits, consider JBLU stock a high-risk, but high-potential, buy.
Thomas Niel, contributor to InvestorPlace, has written single-stock analysis since 2016. As of this writing, Thomas Niel did not hold a position in any of the aforementioned securities.
The post Despite Second-Wave Fears, Buy JetBlue Stock on Weakness appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Older airlines like American Airlines (NASDAQ:AAL), which faces more hurdles than its peers, could drop meaningfully after their recent surge. 10 Value Stocks to Keep on Your Short List Why JBLU Stock Is a Better Airline Comeback Play Than AAL Stock There are a lot of interesting dynamics playing out in today’s stock market. That may explain why analysts think the airline will return to profitability in 2021, as InvestorPlace contributor Bret Kenwell wrote in his June 22 column.
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10 Value Stocks to Keep on Your Short List Why JBLU Stock Is a Better Airline Comeback Play Than AAL Stock There are a lot of interesting dynamics playing out in today’s stock market. Older airlines like American Airlines (NASDAQ:AAL), which faces more hurdles than its peers, could drop meaningfully after their recent surge. Consider JBLU Stock a Contrarian Buy Many investors looking to make contrarian bets have bid up older airlines like American.
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10 Value Stocks to Keep on Your Short List Why JBLU Stock Is a Better Airline Comeback Play Than AAL Stock There are a lot of interesting dynamics playing out in today’s stock market. Older airlines like American Airlines (NASDAQ:AAL), which faces more hurdles than its peers, could drop meaningfully after their recent surge. InvestorPlace - Stock Market News, Stock Advice & Trading Tips What’s next for JetBlue (NASDAQ:JBLU) stock?
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10 Value Stocks to Keep on Your Short List Why JBLU Stock Is a Better Airline Comeback Play Than AAL Stock There are a lot of interesting dynamics playing out in today’s stock market. Older airlines like American Airlines (NASDAQ:AAL), which faces more hurdles than its peers, could drop meaningfully after their recent surge. Boding well for JetBlue, many say that domestic travel will pick up quicker than international flights.
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507e5a20-e035-41b9-b5ee-3203a5809bc5
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5602.0
|
2020-06-27 00:00:00 UTC
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American Airlines CEO sees 10%-20% extra staff in July 2021, 'hard' to avoid furloughs
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AAL
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https://www.nasdaq.com/articles/american-airlines-ceo-sees-10-20-extra-staff-in-july-2021-hard-to-avoid-furloughs-2020-06
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nan
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nan
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By Tracy Rucinski
CHICAGO, June 27 (Reuters) - American Airlines Group Inc AAL.O expects to have between 10% and 20% more workers than needed in July 2021, Chief Executive Doug Parker told employees at a town hall this week, and said that avoiding furloughs will be difficult.
Weathering a sharp hit to business due to the coronavirus pandemic, American and other U.S. airlines have warned of furloughs in October, which is when government payroll aid for airlines expires, but said they were hoping to avoid them.
"It's going to be even harder than I thought," Parker said at an employee town hall on Wednesday, adding that "revenue is not coming back as fast as we'd like."
A video recording of the town hall, which showed Parker wearing a protective face mask, was reviewed by Reuters.
As of the end of last year, American had 133,700 employees, more than any other U.S. airline.
In October, American expects to have between 20% and 30% more workers than needed, Parker said, while adding that furlough decisions could revolve more around the July 2021 forecast of 10% to 20% excess workers, with potentially less pain for pilots than other employees such as flight attendants.
"It really makes zero sense to go furlough a pilot in October if you're going to need that pilot again in July," Parker said, noting the costly training needed to bring a pilot back from a furlough.
American's management has shared the job numbers with unions and was working on solutions, Parker said. The number of extra flight attendants is expected to be in the higher ranger, Parker added.
Under the CARES Act that gave the U.S. aviation sector a $32 billion bailout to cover payroll, airlines cannot force any involuntary furloughs before October and have been trying to encourage employees to accept voluntary exit deals.
Major aviation unions have asked the U.S. Congress to consider extending the payroll support package through March.
(Reporting by Tracy Rucinski; Editing by Will Dunham)
((tracy.rucinski@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Tracy Rucinski CHICAGO, June 27 (Reuters) - American Airlines Group Inc AAL.O expects to have between 10% and 20% more workers than needed in July 2021, Chief Executive Doug Parker told employees at a town hall this week, and said that avoiding furloughs will be difficult. "It's going to be even harder than I thought," Parker said at an employee town hall on Wednesday, adding that "revenue is not coming back as fast as we'd like." Under the CARES Act that gave the U.S. aviation sector a $32 billion bailout to cover payroll, airlines cannot force any involuntary furloughs before October and have been trying to encourage employees to accept voluntary exit deals.
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By Tracy Rucinski CHICAGO, June 27 (Reuters) - American Airlines Group Inc AAL.O expects to have between 10% and 20% more workers than needed in July 2021, Chief Executive Doug Parker told employees at a town hall this week, and said that avoiding furloughs will be difficult. "It's going to be even harder than I thought," Parker said at an employee town hall on Wednesday, adding that "revenue is not coming back as fast as we'd like." In October, American expects to have between 20% and 30% more workers than needed, Parker said, while adding that furlough decisions could revolve more around the July 2021 forecast of 10% to 20% excess workers, with potentially less pain for pilots than other employees such as flight attendants.
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By Tracy Rucinski CHICAGO, June 27 (Reuters) - American Airlines Group Inc AAL.O expects to have between 10% and 20% more workers than needed in July 2021, Chief Executive Doug Parker told employees at a town hall this week, and said that avoiding furloughs will be difficult. In October, American expects to have between 20% and 30% more workers than needed, Parker said, while adding that furlough decisions could revolve more around the July 2021 forecast of 10% to 20% excess workers, with potentially less pain for pilots than other employees such as flight attendants. "It really makes zero sense to go furlough a pilot in October if you're going to need that pilot again in July," Parker said, noting the costly training needed to bring a pilot back from a furlough.
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By Tracy Rucinski CHICAGO, June 27 (Reuters) - American Airlines Group Inc AAL.O expects to have between 10% and 20% more workers than needed in July 2021, Chief Executive Doug Parker told employees at a town hall this week, and said that avoiding furloughs will be difficult. In October, American expects to have between 20% and 30% more workers than needed, Parker said, while adding that furlough decisions could revolve more around the July 2021 forecast of 10% to 20% excess workers, with potentially less pain for pilots than other employees such as flight attendants. The number of extra flight attendants is expected to be in the higher ranger, Parker added.
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9127bd68-9bc9-4e1d-a7ba-f44545637dc8
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5603.0
|
2020-06-26 00:00:00 UTC
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American Airlines to stop limiting seat capacity on flights from July 1
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AAL
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https://www.nasdaq.com/articles/american-airlines-to-stop-limiting-seat-capacity-on-flights-from-july-1-2020-06-26
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nan
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nan
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June 26 (Reuters) - American Airlines AAL.O said on Friday it would stop limiting the number of seats it sells on each flight from July 1.
The U.S. carrier also said tickets for travel through September 30 would not incur change fees prior to travel.
(Reporting by Sanjana Shivdas in Bengaluru and Tracy Rucinski in Chicago; Editing by Arun Koyyur)
((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.
|
June 26 (Reuters) - American Airlines AAL.O said on Friday it would stop limiting the number of seats it sells on each flight from July 1. The U.S. carrier also said tickets for travel through September 30 would not incur change fees prior to travel. (Reporting by Sanjana Shivdas in Bengaluru and Tracy Rucinski in Chicago; Editing by Arun Koyyur) ((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.
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June 26 (Reuters) - American Airlines AAL.O said on Friday it would stop limiting the number of seats it sells on each flight from July 1. The U.S. carrier also said tickets for travel through September 30 would not incur change fees prior to travel. (Reporting by Sanjana Shivdas in Bengaluru and Tracy Rucinski in Chicago; Editing by Arun Koyyur) ((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.
|
June 26 (Reuters) - American Airlines AAL.O said on Friday it would stop limiting the number of seats it sells on each flight from July 1. The U.S. carrier also said tickets for travel through September 30 would not incur change fees prior to travel. (Reporting by Sanjana Shivdas in Bengaluru and Tracy Rucinski in Chicago; Editing by Arun Koyyur) ((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.
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June 26 (Reuters) - American Airlines AAL.O said on Friday it would stop limiting the number of seats it sells on each flight from July 1. The U.S. carrier also said tickets for travel through September 30 would not incur change fees prior to travel. (Reporting by Sanjana Shivdas in Bengaluru and Tracy Rucinski in Chicago; Editing by Arun Koyyur) ((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.
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0cdb9ece-74c4-4d2e-a7f2-bd9a542b3d1f
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5604.0
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2020-06-26 00:00:00 UTC
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AAL Crosses Above Average Analyst Target
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AAL
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https://www.nasdaq.com/articles/aal-crosses-above-average-analyst-target-2020-06-26
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nan
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nan
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In recent trading, shares of American Airlines Group Inc (Symbol: AAL) have crossed above the average analyst 12-month target price of $13.09, changing hands for $13.17/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level. Analyst reaction may also depend on the fundamental business developments that may be responsible for driving the stock price higher — if things are looking up for the company, perhaps it is time for that target price to be raised.
There are 11 different analyst targets contributing to that average for American Airlines Group Inc, but the average is just that — a mathematical average. There are analysts with lower targets than the average, including one looking for a price of $1.00. And then on the other side of the spectrum one analyst has a target as high as $27.00. The standard deviation is $7.476.
But the whole reason to look at the average AAL price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with AAL crossing above that average target price of $13.09/share, investors in AAL have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $13.09 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? Below is a table showing the current thinking of the analysts that cover American Airlines Group Inc:
RECENT AAL ANALYST RATINGS BREAKDOWN
» Current 1 Month Ago 2 Month Ago 3 Month Ago
Strong buy ratings: 3 2 2 5
Buy ratings: 0 0 0 0
Hold ratings: 3 4 5 2
Sell ratings: 1 1 1 1
Strong sell ratings: 6 5 4 3
Average rating: 3.54 3.58 3.42 2.73
The average rating presented in the last row of the above table above is from 1 to 5 where 1 is Strong Buy and 5 is Strong Sell. This article used data provided by Zacks Investment Research via Quandl.com. Get the latest Zacks research report on AAL — FREE.
10 ETFs With Most Upside To Analyst Targets »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
In recent trading, shares of American Airlines Group Inc (Symbol: AAL) have crossed above the average analyst 12-month target price of $13.09, changing hands for $13.17/share. And so with AAL crossing above that average target price of $13.09/share, investors in AAL have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $13.09 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? But the whole reason to look at the average AAL price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes.
|
In recent trading, shares of American Airlines Group Inc (Symbol: AAL) have crossed above the average analyst 12-month target price of $13.09, changing hands for $13.17/share. But the whole reason to look at the average AAL price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with AAL crossing above that average target price of $13.09/share, investors in AAL have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $13.09 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table?
|
And so with AAL crossing above that average target price of $13.09/share, investors in AAL have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $13.09 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? In recent trading, shares of American Airlines Group Inc (Symbol: AAL) have crossed above the average analyst 12-month target price of $13.09, changing hands for $13.17/share. But the whole reason to look at the average AAL price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes.
|
In recent trading, shares of American Airlines Group Inc (Symbol: AAL) have crossed above the average analyst 12-month target price of $13.09, changing hands for $13.17/share. But the whole reason to look at the average AAL price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with AAL crossing above that average target price of $13.09/share, investors in AAL have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $13.09 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table?
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371b72d5-6b24-44c4-bad5-f6d5fcad8443
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5605.0
|
2020-06-26 00:00:00 UTC
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American Airlines warns flights may be more crowded in July
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AAL
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https://www.nasdaq.com/articles/american-airlines-warns-flights-may-be-more-crowded-in-july-2020-06-26
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nan
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nan
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(Adds details and background)
By Tracy Rucinski
June 26 (Reuters) - American Airlines said on Friday that flights will be booked to full capacity starting July 1, meaning that passengers may notice more crowded flights as more people continue to travel.
Fort Worth, Texas-based American was previously limiting its seating capacity at 85% on each flight, or roughly 50% of the main cabin middle seats.
But airline executives have warned that underselling seats is not something they could do forever, particularly as they continue to bleed cash in the middle of the coronavirus pandemic.
American said it will notify customers if their flight is going to be full and allow them to move to more open flights when available.
U.S. airline passenger numbers have rebounded from lows reached in April, but executives and analysts have expressed concern about a spike in coronavirus cases in a number of U.S. states, including Texas.
Among measures to help people feel more comfortable about flying, American said it had teamed up with Vanderbilt University Medical Center to look into health and cleaning matters.
Starting June 30, it will begin asking customers during the check-in process to certify that they have been free of COVID-19 symptoms for the past 14 days. (Reporting by Sanjana Shivdas in Bengaluru and Tracy Rucinski in Chicago; Editing by Arun Koyyur and Jonathan Oatis) ((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1642; Twitter: @SanjanaShivdas;)) Keywords: HEALTH–CORONAVIRUS/AMERICAN AIRLINE (UPDATE 1)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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But airline executives have warned that underselling seats is not something they could do forever, particularly as they continue to bleed cash in the middle of the coronavirus pandemic. Among measures to help people feel more comfortable about flying, American said it had teamed up with Vanderbilt University Medical Center to look into health and cleaning matters. Starting June 30, it will begin asking customers during the check-in process to certify that they have been free of COVID-19 symptoms for the past 14 days.
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(Adds details and background) By Tracy Rucinski June 26 (Reuters) - American Airlines said on Friday that flights will be booked to full capacity starting July 1, meaning that passengers may notice more crowded flights as more people continue to travel. U.S. airline passenger numbers have rebounded from lows reached in April, but executives and analysts have expressed concern about a spike in coronavirus cases in a number of U.S. states, including Texas. (Reporting by Sanjana Shivdas in Bengaluru and Tracy Rucinski in Chicago; Editing by Arun Koyyur and Jonathan Oatis) ((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1642; Twitter: @SanjanaShivdas;)) Keywords: HEALTH–CORONAVIRUS/AMERICAN AIRLINE (UPDATE 1) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(Adds details and background) By Tracy Rucinski June 26 (Reuters) - American Airlines said on Friday that flights will be booked to full capacity starting July 1, meaning that passengers may notice more crowded flights as more people continue to travel. Fort Worth, Texas-based American was previously limiting its seating capacity at 85% on each flight, or roughly 50% of the main cabin middle seats. (Reporting by Sanjana Shivdas in Bengaluru and Tracy Rucinski in Chicago; Editing by Arun Koyyur and Jonathan Oatis) ((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1642; Twitter: @SanjanaShivdas;)) Keywords: HEALTH–CORONAVIRUS/AMERICAN AIRLINE (UPDATE 1) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(Adds details and background) By Tracy Rucinski June 26 (Reuters) - American Airlines said on Friday that flights will be booked to full capacity starting July 1, meaning that passengers may notice more crowded flights as more people continue to travel. Fort Worth, Texas-based American was previously limiting its seating capacity at 85% on each flight, or roughly 50% of the main cabin middle seats. But airline executives have warned that underselling seats is not something they could do forever, particularly as they continue to bleed cash in the middle of the coronavirus pandemic.
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01b3b966-7461-47e7-81ac-deefc3a8d607
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5606.0
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2020-06-26 00:00:00 UTC
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White House does not commit to temperature checks in meeting with U.S. airlines
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AAL
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https://www.nasdaq.com/articles/white-house-does-not-commit-to-temperature-checks-in-meeting-with-u.s.-airlines-2020-06-26
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nan
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nan
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By David Shepardson and Tracy Rucinski
WASHINGTON/CHICAGO June 26 (Reuters) - Top U.S. airline executives met on Friday with Vice President Mike Pence and other senior administration officials but did not come away with any commitments from the White House on mandating temperature checks for airline passengers.
Pence met with the chief executives of United Airlines, Delta Air Lines, American Airlines, JetBlue Airways and the president of Southwest Airlines at the White House alongside Transportation Secretary Elaine Chao, Centers for Disease Control (CDC) director Mark Redfield, Health and Human Services Secretary Alex Azar and other officials.
Airlines want the U.S. government to administer temperature checks to all passengers in a bid to reassure the public.
The Trump administration is open to the idea of having the Transportation Security Administration conduct the tests, but there are still many unanswered questions, including what would happen to passengers who had high fevers and were denied boarding and how to pay for the screening.
Major airlines on Thursday said they would refund air fares to passengers denied boarding if the government conducted tests.
The CDC does not want to be responsible for travelers with high fevers, two people briefed on the meeting said.
The aviation industry, suffering an unprecedented downturn in travel, has urged the government to mandate measures that could help reassure passengers on the safety of travel. Airline executives told government officials that the public views temperature checks and face coverings as two key factors to boost confidence in air travel. Government officials plan to keep studying the idea, officials said.
Trade group Airlines for America said it looked "forward to working with the administration to identify and implement initiatives that help relaunch the U.S. airline industry."
Representative Bennie Thompson, who chairs the House Homeland Security Committee, said last week the Trump administration should not mandate temperature checks without adopting formal regulations.
(Reporting by Tracy Rucinski; Editing by Cynthia Osterman)
((tracy.rucinski@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Major airlines on Thursday said they would refund air fares to passengers denied boarding if the government conducted tests. Airline executives told government officials that the public views temperature checks and face coverings as two key factors to boost confidence in air travel. Representative Bennie Thompson, who chairs the House Homeland Security Committee, said last week the Trump administration should not mandate temperature checks without adopting formal regulations.
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By David Shepardson and Tracy Rucinski WASHINGTON/CHICAGO June 26 (Reuters) - Top U.S. airline executives met on Friday with Vice President Mike Pence and other senior administration officials but did not come away with any commitments from the White House on mandating temperature checks for airline passengers. Major airlines on Thursday said they would refund air fares to passengers denied boarding if the government conducted tests. Airline executives told government officials that the public views temperature checks and face coverings as two key factors to boost confidence in air travel.
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By David Shepardson and Tracy Rucinski WASHINGTON/CHICAGO June 26 (Reuters) - Top U.S. airline executives met on Friday with Vice President Mike Pence and other senior administration officials but did not come away with any commitments from the White House on mandating temperature checks for airline passengers. Pence met with the chief executives of United Airlines, Delta Air Lines, American Airlines, JetBlue Airways and the president of Southwest Airlines at the White House alongside Transportation Secretary Elaine Chao, Centers for Disease Control (CDC) director Mark Redfield, Health and Human Services Secretary Alex Azar and other officials. Airline executives told government officials that the public views temperature checks and face coverings as two key factors to boost confidence in air travel.
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By David Shepardson and Tracy Rucinski WASHINGTON/CHICAGO June 26 (Reuters) - Top U.S. airline executives met on Friday with Vice President Mike Pence and other senior administration officials but did not come away with any commitments from the White House on mandating temperature checks for airline passengers. Airlines want the U.S. government to administer temperature checks to all passengers in a bid to reassure the public. The Trump administration is open to the idea of having the Transportation Security Administration conduct the tests, but there are still many unanswered questions, including what would happen to passengers who had high fevers and were denied boarding and how to pay for the screening.
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1e1c6b9f-5a5b-4f1b-8d6c-4764457f7bf3
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5607.0
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2020-06-26 00:00:00 UTC
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Best ETFs for 2020: The U.S. Global Jets ETF Continues to Stall
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AAL
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https://www.nasdaq.com/articles/best-etfs-for-2020%3A-the-u.s.-global-jets-etf-continues-to-stall-2020-06-26
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
This article is a part of InvestorPlace.com’s Best ETFs for 2020 contest. Vince Martin’s pick for the contest is the U.S. Global Jets ETF (NYSEARCA:JETS).
My pick for the best exchange-traded fund of 2020, the U.S. Global Jets ETF (NYSEARCA:JETS), turned out to be an exceedingly poor choice. JETS has lost nearly half of its value so far this year. A sharp rally last month offered some hope that it could stick among the best ETFs to buy this year, but those gains have reversed over the last three weeks.
It’s easy to chalk up the miss to the novel coronavirus pandemic. (I can also take solace in the fact that my 2019 pick, the iShares U.S. Home Construction ETF (BATS:ITB), rose a sterling 48%.) But as I wrote at the end of March, the pandemic simply exposed significant weaknesses in the U.S. airline industry, in particular. And I missed the most important of those weaknesses.
Put simply, airline executives got overconfident. American Airlines (NASDAQ:AAL) chief executive officer Doug Parker infamously said in 2017 that “I don’t think we’re ever going to lose money again.” The rest of the industry agreed. As a result, as Bloomberg detailed this year, over a decade the five biggest U.S. airlines (including American) “spent 96% of their free cash flow on share repurchases.”
That cash needed to go to debt reduction to limit the industry’s exposure to a recession. It’s true that no one predicted the arrival of the coronavirus. But the risk of a pandemic was known — and detailed in airlines’ filings with the U.S. Securities and Exchange Commission. That aside, a recession was going to arrive at some point.
Airlines needed to prepare. They didn’t.
10 Consumer Stocks to Buy to Ride the Post-Covid-19 Wave
That problem still holds. And now, with the coronavirus case count rising, the industry is facing renewed short-term challenges as well. As a result, with JETS back where it traded in late March, I’m nowhere close to returning to my past bullishness.
JETS Is No Longer One of the Best ETFs
It’s tempting to argue that airline stocks in general, and the JETS ETF in particular, are “too cheap.” Again, the ETF is down by nearly half. American, United Airlines (NASDAQ:UAL), and Delta Air Lines (NYSE:DAL) have performed even worse.
Meanwhile, federal assistance seems to take near-term bankruptcy risk off the table. And, at some point, normalcy should return.
But that analysis misses a key problem: leverage. And airlines are significantly leveraged in two key ways.
The first is on the balance sheet. The U.S. airlines alone have tens of billions of dollars in debt between them. The figure is only going to rise as the industry burns cash in 2020 (and potentially 2021 as well). Every dollar in lost value of the business has a magnified impact on the value of the equity.
That impact is then amplified still further by the business model. Lost revenues have a huge impact on operating profit. Incremental revenues are hugely profitable: it’s really the last few passengers that makes a flight profitable at all. That is a key reason why the industry has such a checkered history: Southwest Airlines (NYSE:LUV) is the only major U.S. carrier to have avoided bankruptcy.
The leverage problem simply makes it exceedingly difficult to argue that the sector is “too cheap.” The industry’s history shows it can get cheaper.
A Second Wave
Meanwhile, JETS is heading in the wrong direction after a steep rally.
Indeed, the ETF saw a massive influx in assets, which rose nearly 3,000% in three months. Traders at Robinhood appear to have been a key driver.
But the number of Robinhood traders holding the fund has stalled out (pardon the pun). And the rest of the market seems to be selling. It’s not hard to see why.
A so-called “second wave” of coronavirus cases is hitting states like Texas and Florida. Europe is reportedly considering banning U.S. travelers over coronavirus fears. That would remove profitable international flights from already-thin airline schedules.
Again, airlines are already burning billions of dollars in cash. Short-term losses now look potentially higher. That has a real impact on fundamental fair value for airline stocks.
But it also presents a short-term impact to investor sentiment. Value investors were interested in the stock last month, when it looked like normalcy might be getting closer. If those hopes are dashed, so too are any hopes for a rally in JETS.
Vince Martin has covered the financial industry for close to a deacde for InvestorPlace.com and other outlets. He has no positions in any securities mentioned.
The post Best ETFs for 2020: The U.S. Global Jets ETF Continues to Stall appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines (NASDAQ:AAL) chief executive officer Doug Parker infamously said in 2017 that “I don’t think we’re ever going to lose money again.” The rest of the industry agreed. A sharp rally last month offered some hope that it could stick among the best ETFs to buy this year, but those gains have reversed over the last three weeks. That is a key reason why the industry has such a checkered history: Southwest Airlines (NYSE:LUV) is the only major U.S. carrier to have avoided bankruptcy.
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American Airlines (NASDAQ:AAL) chief executive officer Doug Parker infamously said in 2017 that “I don’t think we’re ever going to lose money again.” The rest of the industry agreed. Global Jets ETF (NYSEARCA:JETS). Global Jets ETF (NYSEARCA:JETS), turned out to be an exceedingly poor choice.
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American Airlines (NASDAQ:AAL) chief executive officer Doug Parker infamously said in 2017 that “I don’t think we’re ever going to lose money again.” The rest of the industry agreed. Global Jets ETF (NYSEARCA:JETS). As a result, as Bloomberg detailed this year, over a decade the five biggest U.S. airlines (including American) “spent 96% of their free cash flow on share repurchases.” That cash needed to go to debt reduction to limit the industry’s exposure to a recession.
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American Airlines (NASDAQ:AAL) chief executive officer Doug Parker infamously said in 2017 that “I don’t think we’re ever going to lose money again.” The rest of the industry agreed. But as I wrote at the end of March, the pandemic simply exposed significant weaknesses in the U.S. airline industry, in particular. As a result, as Bloomberg detailed this year, over a decade the five biggest U.S. airlines (including American) “spent 96% of their free cash flow on share repurchases.” That cash needed to go to debt reduction to limit the industry’s exposure to a recession.
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21022758-9e06-4952-abf4-a2631e34d1c0
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5608.0
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2020-06-26 00:00:00 UTC
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American Airlines: Equity Raise Reduces Bankruptcy Fears
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AAL
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https://www.nasdaq.com/articles/american-airlines%3A-equity-raise-reduces-bankruptcy-fears-2020-06-26
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nan
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The biggest worry surrounding American Airlines Group (AAL) was the large debt load and whether the company could get back to cash flow positive quick enough to repay debt. For this reason, a lot of people have speculated on whether the weaker airline would go bankrupt.
The airline just raised about $2 billion reducing the bankruptcy fears. The bigger question all along was whether the airline had value here around $12.50, not whether American Airlines was ever going to end up bankrupt.
Equity Raise
American Airlines raised nearly $2 billion via an equity offering of 74.1 million shares and $1 billion via convertible notes. In addition, the airline raised another $2.5 billion via a notes offering in anticipation of raising $4.75 billion via the Loan Program portion of the CARES Act.
The airline issued the common shares at $13.50 for a steep discount from the $16.00 when the week started before the news of the planned equity raise. The equity raise of over $1 billion was upsized due to strong demand from an original plan of only $750 million.
The convertible debt comes with a 6.5% coupon with a conversion price of $16.20 per share. With 422 million shares outstanding, the combined equity and convertible debt offering is dilutive by up to 135 million shares. In addition, the underwriters are granted $150 million in additional shares and convertible debt leading to another 20 million in share dilution.
Cutting Debt
For all of the investors worried about mounting debt, American Airlines has technically not raised any meaningful debt prior to this week. The airline started the virus panic with $7 billion in cash and had raised $1.6 billion via the loan portion of the grant. This fundraising, assuming the convertible debt is converted into equity, nearly offsets all of the previous debt.
The company should have nearly $11 billion in liquidity ending the quarter and only the additional $4.75 billion loan from the U.S. Treasury actually adds substantial debt to the balance sheet. The airline would have ~$16 billion in total liquidity giving American Airlines the flexibility to draw down less of the government loan.
American Airlines has already cut daily cash burn to $40 million in June and the amount doesn’t even factor in the Payroll Support Program grant funds of ~$27 million per day. These funds require the company to keep payroll costs high, but the airline will be able to reduce costs on October 1.
The combination of the additional funds and the reduced cash burn eliminate the bankruptcy fears and set American Airlines up for the continued rebound in passenger traffic.
Takeaway
The key investor takeaway is that shareholders of American Airlines are disappointed the company raised so much equity at $13.50 per share. The upside is that the airline no longer has the same bankruptcy risk with the equity raised here and the limited boost in net debt so far during the downturn.
Cowen analyst Helane Becker views AAL as a "contrarian play" and believes the stock is likely to outperform as demand improve. The analyst noted, "[T]here is more opportunity in these shares than in some other airlines. We believe American should be considered in a basket of stocks for investors looking to play the recovery in demand." To this end, Becker rates AAL an Outperform (i.e. Buy) along with a $20 stock-price forecast, which implies about 60% upside from current levels.
To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Disclosure: No position.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Cowen analyst Helane Becker views AAL as a "contrarian play" and believes the stock is likely to outperform as demand improve. To this end, Becker rates AAL an Outperform (i.e. Buy) along with a $20 stock-price forecast, which implies about 60% upside from current levels. The biggest worry surrounding American Airlines Group (AAL) was the large debt load and whether the company could get back to cash flow positive quick enough to repay debt.
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The biggest worry surrounding American Airlines Group (AAL) was the large debt load and whether the company could get back to cash flow positive quick enough to repay debt. Cowen analyst Helane Becker views AAL as a "contrarian play" and believes the stock is likely to outperform as demand improve. To this end, Becker rates AAL an Outperform (i.e. Buy) along with a $20 stock-price forecast, which implies about 60% upside from current levels.
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The biggest worry surrounding American Airlines Group (AAL) was the large debt load and whether the company could get back to cash flow positive quick enough to repay debt. Cowen analyst Helane Becker views AAL as a "contrarian play" and believes the stock is likely to outperform as demand improve. To this end, Becker rates AAL an Outperform (i.e. Buy) along with a $20 stock-price forecast, which implies about 60% upside from current levels.
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Cowen analyst Helane Becker views AAL as a "contrarian play" and believes the stock is likely to outperform as demand improve. The biggest worry surrounding American Airlines Group (AAL) was the large debt load and whether the company could get back to cash flow positive quick enough to repay debt. To this end, Becker rates AAL an Outperform (i.e. Buy) along with a $20 stock-price forecast, which implies about 60% upside from current levels.
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13a70e73-c89b-4b6b-82e6-0d22baff3ff2
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5609.0
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2020-06-26 00:00:00 UTC
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Why Airline Stocks Are Falling Today
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AAL
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https://www.nasdaq.com/articles/why-airline-stocks-are-falling-today-2020-06-26
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nan
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nan
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What happened
Airline shares are under pressure again on Friday as it continues to grow more apparent the United States is going to be dealing with the COVID-19 pandemic for a considerable amount of time. If so, the fragile beginnings of a travel recovery could be threatened, and the airlines are going to need to weather a prolonged downturn.
Spirit Airlines (NYSE: SAVE) led the sector lower with a 7.3% decline as of 11:45am EDT Friday. American Airlines Group (NASDAQ: AAL), which on Friday announced plans to lift capacity restrictions despite the growing number of cases, and United Airlines Holdings (NASDAQ: UAL) each traded down more than 5%.
The rest of the airlines were also under pressure, with Hawaiian Holdings (NASDAQ: HA) and Allegiant Travel (NASDAQ: ALGT) down 4% apiece and Delta Air Lines (NYSE: DAL), Southwest Airlines (NYSE: LUV), JetBlue Airways (NASDAQ: JBLU), and Alaska Air Group (NYSE: ALK) each down more than 3%.
So what
The airline industry has been decimated by the pandemic, with second-quarter revenue expected to be down 90% year over year as demand for travel dropped to near zero in March and April. The shares have bounced off of April lows in recent weeks on signs that there is pent-up demand for travel and slow growth in ticket sales, but increasing COVID-19 cases in a number of tourism-focused states is putting that rally in jeopardy.
Texas is now rolling back some of its planned reopenings due to an increase in hospitalizations, with bars and taverns forced to suspend operations on Friday. Elsewhere, theme park plans to reopen are in jeopardy as case numbers jump in Florida, and throughout the Sunbelt states are grappling with new COVID-19 concerns.
Image source: Getty Images.
Airlines have done a good job raising cash to try to ride out the crisis, by some estimates raising nearly $50 billion in debt and equity financing on top of a similar amount of government support. But with large airlines burning through $40 million or more per day, no amount of cash will sustain operations indefinitely. The increase in new cases suggests we are in for a long, slow recovery, putting pressure on airline stocks.
On Friday, American announced a move that highlights the difficult position the airlines are in. American said it would lift capacity restrictions and offer all seats for sale beginning on July 1, even as the number of new cases continues to grow. The move will give American the opportunity to generate more revenue from each flight, but could put the airline at a competitive disadvantage against rivals who are keeping capacity restrictions in place through the summer.
Now what
The good news is none of the airlines are an immediate bankruptcy risk even if case numbers continue to surge thanks to the liquidity the industry has raised in recent months. The bad news is that even in the best-case scenario where travel recovers faster than expected, these companies now have billions in new debt obligations that will weigh on balance sheets, and earnings, for years to come.
The airlines are going to face tough choices in the months to come. The industry is barred from cutting jobs through Sept. 30 as a condition of the government funds they received as part of the CARES Act, but given the slow trajectory of the recovery it seems likely employment levels will fall dramatically in the months to come.
Investors need to tread carefully. I believe the industry can avoid bankruptcy filings, but with so much uncertainty about the pandemic still clouding the outlook, there are no guarantees. For those bold enough to buy in, it is best to limit airline stocks to a small part of a diversified portfolio and focus on the top operators who are the most likely to survive whatever comes next.
10 stocks we like better than JetBlue Airways
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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 Alaska Air Group, Delta Air Lines, Hawaiian Holdings, JetBlue Airways, and Southwest Airlines. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group (NASDAQ: AAL), which on Friday announced plans to lift capacity restrictions despite the growing number of cases, and United Airlines Holdings (NASDAQ: UAL) each traded down more than 5%. The shares have bounced off of April lows in recent weeks on signs that there is pent-up demand for travel and slow growth in ticket sales, but increasing COVID-19 cases in a number of tourism-focused states is putting that rally in jeopardy. The move will give American the opportunity to generate more revenue from each flight, but could put the airline at a competitive disadvantage against rivals who are keeping capacity restrictions in place through the summer.
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American Airlines Group (NASDAQ: AAL), which on Friday announced plans to lift capacity restrictions despite the growing number of cases, and United Airlines Holdings (NASDAQ: UAL) each traded down more than 5%. The rest of the airlines were also under pressure, with Hawaiian Holdings (NASDAQ: HA) and Allegiant Travel (NASDAQ: ALGT) down 4% apiece and Delta Air Lines (NYSE: DAL), Southwest Airlines (NYSE: LUV), JetBlue Airways (NASDAQ: JBLU), and Alaska Air Group (NYSE: ALK) each down more than 3%. The Motley Fool recommends Alaska Air Group, Delta Air Lines, Hawaiian Holdings, JetBlue Airways, and Southwest Airlines.
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American Airlines Group (NASDAQ: AAL), which on Friday announced plans to lift capacity restrictions despite the growing number of cases, and United Airlines Holdings (NASDAQ: UAL) each traded down more than 5%. The rest of the airlines were also under pressure, with Hawaiian Holdings (NASDAQ: HA) and Allegiant Travel (NASDAQ: ALGT) down 4% apiece and Delta Air Lines (NYSE: DAL), Southwest Airlines (NYSE: LUV), JetBlue Airways (NASDAQ: JBLU), and Alaska Air Group (NYSE: ALK) each down more than 3%. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Lou Whiteman owns shares of Delta Air Lines and Spirit Airlines.
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American Airlines Group (NASDAQ: AAL), which on Friday announced plans to lift capacity restrictions despite the growing number of cases, and United Airlines Holdings (NASDAQ: UAL) each traded down more than 5%. Now what The good news is none of the airlines are an immediate bankruptcy risk even if case numbers continue to surge thanks to the liquidity the industry has raised in recent months. That's right -- they think these 10 stocks are even better buys.
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a0cbc21c-b95b-4064-8759-693cce59d038
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5610.0
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2020-06-26 00:00:00 UTC
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If You Own American Airlines Stock, Sell It Now
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AAL
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https://www.nasdaq.com/articles/if-you-own-american-airlines-stock-sell-it-now-2020-06-27
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
[Editor’s Note: “Wait For Another Pullback Before Buying AAL Stock” was originally published April 22, 2020. It is regularly updated to include the most relevant information.]
AAL) Stock" width="300" height="169">
Source: GagliardiPhotography / Shutterstock.com
Is American Airlines (NASDAQ:AAL) stock headed back to the single-digits? Earlier this month, shares went parabolic. Speculators chomped at the bit to wager on a rapid recovery post-novel coronavirus.
But now, a resurgence in coronavirus cases threatens the bull case for air travel. A quick rebound looks more like a long-shot.
Granted, with the airline boosting its travel schedule, the situation may not be as bad as it seems. But, keep in mind the many fleas on this legacy carrier. Even before the pandemic affected air travel.
As I previously discussed, American Airlines already had a heavy debt load and other operating issues.
And despite the company receiving $5.8 billion in payroll support from the $2 trillion CARES Act stimulus package, they could burn through billions more, even as they increase system-wide capacity back to 40% of prior levels.
Air travel may be trending up. But, it could be years before airline stocks like American start rebounding again. With this in mind, this dwindling enthusiasm for the stocks looks like it was much, too soon.
In short, good reason to take the money and run in case shares continue to fall back. And avoid it completely if you haven’t yet entered a position.
Slow Recovery Means More Bad News for AAL Stock
As lockdowns come to an end, things may be “returning to normal.” But, that doesn’t mean smooth sailing ahead for the U.S. economy. The damage caused by the pandemic could linger on throughout the year. And that’s especially the case for the airline industry.
Investors may have sent shares higher on a breadcrumb of positive news. But now, with coronavirus cases on the rise, expect an even slower recovery for American. Recently, UBS’s Myles Walton reiterated his “sell” rating on the stock. The analyst also trimmed his price target from $10 per share to $9 per share.
Not only is Walton concerned about the carrier’s increased debt load. The current airline price war is another major risk. With little international or business travel demand, carriers are fighting for what’s left of the vacation travel market.
Granted, international travel could come back. Yet, it’s tough to say the same about business travel. Companies now have viable virtual alternatives to in-person meetings and conferences. In other words, pre-pandemic business travel demand may be permanently reduced in the “new normal.”
As this commentator noted, business travelers are profit centers for the legacy airlines. Without this cash cow, it’ll be much harder for the “rapid airline recovery” thesis to play out.
This may explain why industry leaders like Airbus (OTCMKTS:EADSY) CEO Guillaume Faury said it could be “three to five years” before the industry fully recovers. With a long road ahead, it looks even less appealing to buy American stock, as shares continue to price in way too much optimism.
Were Recent Bankruptcy Fears an Overreaction?
In the midst of the pandemic, many saw American as headed towards bankruptcy. In May, Boeing (NYSE:BA) CEO Dave Calhoun predicted an airline bankruptcy in 2020. And, with this carrier having some of the weakest fundamentals out there, it seemed like the one most likely to file for Chapter 11.
Yet, others saw bankruptcy concerns as overblown. As InvestorPlace’s Tom Taulli wrote in April, chances are American Airlines survives coronavirus. Mainly because Washington won’t want to see an airline file for Chapter 11.
In the middle of this bankruptcy talk, the company remained confident. CEO Doug Parker reassured investors, saying “we’re all going to be fine.” But, Parker also said a few years back that the airline would never again go in the red. At the time, it would’ve been easy to doubt his optimistic outlook.
Yet now, even Parker is starting to express some doubt, conceding the long-term outlook remains cloudy. In short, we’re still far from saying clear skies ahead just yet.
Sell Into Strength With AAL Stock
When I last wrote about American Airlines stock, I said it was too late to go short. Yet, now, after shares rose too fast, too soon, it’s possible the stock could retest its single-digit lows. The recent strong performance was mainly due to speculators buying on headlines, as well as short-sellers getting squeezed, as this stock has a heavy amount of short interest.
What’s next for this stock? This formerly-hot airline play could pull back further from here. First, as the shorts exit their positions, demand for shares could taper off. Then, if new developments further hinder the “rapid recovery” thesis, investors buying today out of FOMO could bail as well.
Bottom line: if you own AAL stock now, sell while shares remain in the double-digits. Otherwise, steer clear for now.
Thomas Niel, contributor to InvestorPlace, has written single-stock analysis since 2016. As of this writing, Thomas Niel did not hold a position in any of the aforementioned securities.
The post If You Own American Airlines Stock, Sell It Now appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips [Editor’s Note: “Wait For Another Pullback Before Buying AAL Stock” was originally published April 22, 2020. AAL) Stock" width="300" height="169"> Source: GagliardiPhotography / Shutterstock.com Is American Airlines (NASDAQ:AAL) stock headed back to the single-digits? Slow Recovery Means More Bad News for AAL Stock As lockdowns come to an end, things may be “returning to normal.” But, that doesn’t mean smooth sailing ahead for the U.S. economy.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips [Editor’s Note: “Wait For Another Pullback Before Buying AAL Stock” was originally published April 22, 2020. AAL) Stock" width="300" height="169"> Source: GagliardiPhotography / Shutterstock.com Is American Airlines (NASDAQ:AAL) stock headed back to the single-digits? Slow Recovery Means More Bad News for AAL Stock As lockdowns come to an end, things may be “returning to normal.” But, that doesn’t mean smooth sailing ahead for the U.S. economy.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips [Editor’s Note: “Wait For Another Pullback Before Buying AAL Stock” was originally published April 22, 2020. AAL) Stock" width="300" height="169"> Source: GagliardiPhotography / Shutterstock.com Is American Airlines (NASDAQ:AAL) stock headed back to the single-digits? Sell Into Strength With AAL Stock When I last wrote about American Airlines stock, I said it was too late to go short.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips [Editor’s Note: “Wait For Another Pullback Before Buying AAL Stock” was originally published April 22, 2020. AAL) Stock" width="300" height="169"> Source: GagliardiPhotography / Shutterstock.com Is American Airlines (NASDAQ:AAL) stock headed back to the single-digits? Slow Recovery Means More Bad News for AAL Stock As lockdowns come to an end, things may be “returning to normal.” But, that doesn’t mean smooth sailing ahead for the U.S. economy.
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8fa8aced-81c1-4802-9637-8674d895cda4
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5611.0
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2020-06-26 00:00:00 UTC
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American Airlines to Pack More People on Planes
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AAL
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https://www.nasdaq.com/articles/american-airlines-to-pack-more-people-on-planes-2020-06-26
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nan
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nan
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American Airlines Group (NASDAQ: AAL) said Friday it intends to lift capacity restrictions and offer all seats for sale beginning July 1 as the industry continues to balance a need to boost revenue with efforts to assure passengers it is safe to fly.
American currently is limiting seating capacity to 85% on flights, including blocking off middle seats in the main cabin. But American in a statement said that it would book to capacity beginning July 1, while offering passengers some flexibility to choose other options if they would prefer to not be on a full flight.
Image source: American Airlines.
American said it will notify customers and allow them to move to more open flights without fees and allow passengers to move to other seats when space is available.
The airline industry has been hit hard by the COVID-19 pandemic, which has caused travel demand to plummet. The industry has tried to take steps to coax travelers back onto flights, including restricting capacity, but with all the airlines currently bleeding cash there is also an urgent need to boost revenue.
American said it is teaming with Vanderbilt University Medical Center for advice on how to best keep its passengers and crew healthy during the pandemic, and taking other steps including asking customers during the check-in process to certify they have been free of COVID-19 symptoms for the past 14 days.
But with other airlines pledging to limit ticket sales through the summer -- Southwest Airlines, for example, will limit capacity to two-thirds of the seats through September, so no one will have to sit in a middle seat -- American's policy change could put it at a competitive disadvantage.
The policy change likely also means that American intends to hold off on adding new flights. American shares rocketed higher earlier this month after the airline said it would boost its flight schedule in response to growing demand, but a recent uptick in COVID-19 cases nationwide has the industry rethinking growth plans.
Delta Air Lines said Thursday it is unlikely to add much to its schedule for the rest of the year due to the spike in new cases.
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Lou Whiteman owns shares of Delta Air Lines. The Motley Fool recommends Delta Air Lines and Southwest Airlines. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group (NASDAQ: AAL) said Friday it intends to lift capacity restrictions and offer all seats for sale beginning July 1 as the industry continues to balance a need to boost revenue with efforts to assure passengers it is safe to fly. American said it is teaming with Vanderbilt University Medical Center for advice on how to best keep its passengers and crew healthy during the pandemic, and taking other steps including asking customers during the check-in process to certify they have been free of COVID-19 symptoms for the past 14 days. American shares rocketed higher earlier this month after the airline said it would boost its flight schedule in response to growing demand, but a recent uptick in COVID-19 cases nationwide has the industry rethinking growth plans.
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American Airlines Group (NASDAQ: AAL) said Friday it intends to lift capacity restrictions and offer all seats for sale beginning July 1 as the industry continues to balance a need to boost revenue with efforts to assure passengers it is safe to fly. But with other airlines pledging to limit ticket sales through the summer -- Southwest Airlines, for example, will limit capacity to two-thirds of the seats through September, so no one will have to sit in a middle seat -- American's policy change could put it at a competitive disadvantage. The Motley Fool recommends Delta Air Lines and Southwest Airlines.
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American Airlines Group (NASDAQ: AAL) said Friday it intends to lift capacity restrictions and offer all seats for sale beginning July 1 as the industry continues to balance a need to boost revenue with efforts to assure passengers it is safe to fly. But with other airlines pledging to limit ticket sales through the summer -- Southwest Airlines, for example, will limit capacity to two-thirds of the seats through September, so no one will have to sit in a middle seat -- American's policy change could put it at a competitive disadvantage. 10 stocks we like better than American Airlines Group When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen.
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American Airlines Group (NASDAQ: AAL) said Friday it intends to lift capacity restrictions and offer all seats for sale beginning July 1 as the industry continues to balance a need to boost revenue with efforts to assure passengers it is safe to fly. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Lou Whiteman owns shares of Delta Air Lines. The Motley Fool recommends Delta Air Lines and Southwest Airlines.
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0e1694f9-871b-4ef9-9b55-da14b6fe2653
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5612.0
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2020-06-25 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Evelo Biosciences, American Airlines, Translate Bio
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AAL
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-evelo-biosciences-american-airlines-translate-bio-2020-06-25
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nan
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nan
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Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
U.S. stock futures slipped further on Thursday following Wall Street's worst day in two weeks, as investors were unnerved by an alarming rise in new coronavirus cases and an elevated weekly jobless claims number. .N
At 8:30 a.m. ET, Dow e-minis 1YMc1 were down 0.85% at 25,176. S&P 500 e-minis ESc1 were down 0.66% at 3,029, while Nasdaq 100 e-minis NQc1 were down 0.10% at 10,000.5. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Gnc Holdings , up 45.2% ** Jupai Holdings Ltd , up 20.0% ** Hertz Global Holding , up 16.8% The top three NYSE percentage losers premarket .PRPL.NQ: ** Modine Manufacturing Co , down 16.1% ** Kb Home , down 16% ** Callon Petroleum Co , down 10.5% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Seanergy Maritime SHIPZ.O, up 86.0% ** Puhui Wealth Investment Management Co Ltd PHCF.O, up 65.2% ** Sini Global Shipping America Ltd , up 14.2% The top three Nasdaq percentage losers premarket .PRPL.O: ** Marin Software Inc , down 26.6% ** Farmer Bros Co , down 21.8% ** Xeris Pharmaceuticals Inc , down 19.7% ** Walt Disney Co DIS.N: down 2.7% premarket BUZZ-Falls as co delays reopening of California Disneyland ** Boeing Co BA.N: down 4.2% premarket BUZZ-Berenberg says Boeing to face MAX pressure until demand stabilizes, downgrades ** Magenta Therapeutics MGTA.O: down 18.3% premarket BUZZ-Falls on $60 mln stock offering ** UniQure QURE.O: down 16.5% premarket BUZZ-Falls as brokerages downgrade on 'pedestrian' licensing deal with CSL ** Evelo Biosciences EVLO.O: down 10.2% premarket BUZZ-Drops on $45 mln equity raise ** IZEA Worldwide Inc IZEA.O: up 25.1% premarket BUZZ-Jumps on raised sales outlook ** Virgin Galactic Holdings Inc SPCE.N: up 1.6% premarket BUZZ-Rises as SpaceShipTwo set for second test flight ** McCormick & Company Inc MKC.N: up 0.4% premarket BUZZ-Up as Q2 beats on rise in home cooking ** Moderna Inc MRNA.O: up 4.5% premarket BUZZ-Rises on partnership with Catalent to make potential COVID-19 vaccine ** Darden Restaurants DRI.N: up 1.3% premarket BUZZ-Rises on strong earnings forecast, improving weekly sales ** Accenture PLC ACN.N: up 5.5% premarket BUZZ-Rises after Q3 results beat expectations ** American Airlines AAL.O: down 4.2% premarket BUZZ-Falls as it prices $2.5 bln debt offer ** Translate Bio TBIO.O: down 3.6% premarket BUZZ-slides on planned share offer as Takeda looks to cash out
(Compiled by Shivani Kumaresan in Bengaluru)
((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three NYSE percentage gainers premarket .PRPG.NQ: ** Gnc Holdings , up 45.2% ** Jupai Holdings Ltd , up 20.0% ** Hertz Global Holding , up 16.8% The top three NYSE percentage losers premarket .PRPL.NQ: ** Modine Manufacturing Co , down 16.1% ** Kb Home , down 16% ** Callon Petroleum Co , down 10.5% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Seanergy Maritime SHIPZ.O, up 86.0% ** Puhui Wealth Investment Management Co Ltd PHCF.O, up 65.2% ** Sini Global Shipping America Ltd , up 14.2% The top three Nasdaq percentage losers premarket .PRPL.O: ** Marin Software Inc , down 26.6% ** Farmer Bros Co , down 21.8% ** Xeris Pharmaceuticals Inc , down 19.7% ** Walt Disney Co DIS.N: down 2.7% premarket BUZZ-Falls as co delays reopening of California Disneyland ** Boeing Co BA.N: down 4.2% premarket BUZZ-Berenberg says Boeing to face MAX pressure until demand stabilizes, downgrades ** Magenta Therapeutics MGTA.O: down 18.3% premarket BUZZ-Falls on $60 mln stock offering ** UniQure QURE.O: down 16.5% premarket BUZZ-Falls as brokerages downgrade on 'pedestrian' licensing deal with CSL ** Evelo Biosciences EVLO.O: down 10.2% premarket BUZZ-Drops on $45 mln equity raise ** IZEA Worldwide Inc IZEA.O: up 25.1% premarket BUZZ-Jumps on raised sales outlook ** Virgin Galactic Holdings Inc SPCE.N: up 1.6% premarket BUZZ-Rises as SpaceShipTwo set for second test flight ** McCormick & Company Inc MKC.N: up 0.4% premarket BUZZ-Up as Q2 beats on rise in home cooking ** Moderna Inc MRNA.O: up 4.5% premarket BUZZ-Rises on partnership with Catalent to make potential COVID-19 vaccine ** Darden Restaurants DRI.N: up 1.3% premarket BUZZ-Rises on strong earnings forecast, improving weekly sales ** Accenture PLC ACN.N: up 5.5% premarket BUZZ-Rises after Q3 results beat expectations ** American Airlines AAL.O: down 4.2% premarket BUZZ-Falls as it prices $2.5 bln debt offer ** Translate Bio TBIO.O: down 3.6% premarket BUZZ-slides on planned share offer as Takeda looks to cash out (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock futures slipped further on Thursday following Wall Street's worst day in two weeks, as investors were unnerved by an alarming rise in new coronavirus cases and an elevated weekly jobless claims number. ET, Dow e-minis 1YMc1 were down 0.85% at 25,176.
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The top three NYSE percentage gainers premarket .PRPG.NQ: ** Gnc Holdings , up 45.2% ** Jupai Holdings Ltd , up 20.0% ** Hertz Global Holding , up 16.8% The top three NYSE percentage losers premarket .PRPL.NQ: ** Modine Manufacturing Co , down 16.1% ** Kb Home , down 16% ** Callon Petroleum Co , down 10.5% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Seanergy Maritime SHIPZ.O, up 86.0% ** Puhui Wealth Investment Management Co Ltd PHCF.O, up 65.2% ** Sini Global Shipping America Ltd , up 14.2% The top three Nasdaq percentage losers premarket .PRPL.O: ** Marin Software Inc , down 26.6% ** Farmer Bros Co , down 21.8% ** Xeris Pharmaceuticals Inc , down 19.7% ** Walt Disney Co DIS.N: down 2.7% premarket BUZZ-Falls as co delays reopening of California Disneyland ** Boeing Co BA.N: down 4.2% premarket BUZZ-Berenberg says Boeing to face MAX pressure until demand stabilizes, downgrades ** Magenta Therapeutics MGTA.O: down 18.3% premarket BUZZ-Falls on $60 mln stock offering ** UniQure QURE.O: down 16.5% premarket BUZZ-Falls as brokerages downgrade on 'pedestrian' licensing deal with CSL ** Evelo Biosciences EVLO.O: down 10.2% premarket BUZZ-Drops on $45 mln equity raise ** IZEA Worldwide Inc IZEA.O: up 25.1% premarket BUZZ-Jumps on raised sales outlook ** Virgin Galactic Holdings Inc SPCE.N: up 1.6% premarket BUZZ-Rises as SpaceShipTwo set for second test flight ** McCormick & Company Inc MKC.N: up 0.4% premarket BUZZ-Up as Q2 beats on rise in home cooking ** Moderna Inc MRNA.O: up 4.5% premarket BUZZ-Rises on partnership with Catalent to make potential COVID-19 vaccine ** Darden Restaurants DRI.N: up 1.3% premarket BUZZ-Rises on strong earnings forecast, improving weekly sales ** Accenture PLC ACN.N: up 5.5% premarket BUZZ-Rises after Q3 results beat expectations ** American Airlines AAL.O: down 4.2% premarket BUZZ-Falls as it prices $2.5 bln debt offer ** Translate Bio TBIO.O: down 3.6% premarket BUZZ-slides on planned share offer as Takeda looks to cash out (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock futures slipped further on Thursday following Wall Street's worst day in two weeks, as investors were unnerved by an alarming rise in new coronavirus cases and an elevated weekly jobless claims number. S&P 500 e-minis ESc1 were down 0.66% at 3,029, while Nasdaq 100 e-minis NQc1 were down 0.10% at 10,000.5.
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The top three NYSE percentage gainers premarket .PRPG.NQ: ** Gnc Holdings , up 45.2% ** Jupai Holdings Ltd , up 20.0% ** Hertz Global Holding , up 16.8% The top three NYSE percentage losers premarket .PRPL.NQ: ** Modine Manufacturing Co , down 16.1% ** Kb Home , down 16% ** Callon Petroleum Co , down 10.5% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Seanergy Maritime SHIPZ.O, up 86.0% ** Puhui Wealth Investment Management Co Ltd PHCF.O, up 65.2% ** Sini Global Shipping America Ltd , up 14.2% The top three Nasdaq percentage losers premarket .PRPL.O: ** Marin Software Inc , down 26.6% ** Farmer Bros Co , down 21.8% ** Xeris Pharmaceuticals Inc , down 19.7% ** Walt Disney Co DIS.N: down 2.7% premarket BUZZ-Falls as co delays reopening of California Disneyland ** Boeing Co BA.N: down 4.2% premarket BUZZ-Berenberg says Boeing to face MAX pressure until demand stabilizes, downgrades ** Magenta Therapeutics MGTA.O: down 18.3% premarket BUZZ-Falls on $60 mln stock offering ** UniQure QURE.O: down 16.5% premarket BUZZ-Falls as brokerages downgrade on 'pedestrian' licensing deal with CSL ** Evelo Biosciences EVLO.O: down 10.2% premarket BUZZ-Drops on $45 mln equity raise ** IZEA Worldwide Inc IZEA.O: up 25.1% premarket BUZZ-Jumps on raised sales outlook ** Virgin Galactic Holdings Inc SPCE.N: up 1.6% premarket BUZZ-Rises as SpaceShipTwo set for second test flight ** McCormick & Company Inc MKC.N: up 0.4% premarket BUZZ-Up as Q2 beats on rise in home cooking ** Moderna Inc MRNA.O: up 4.5% premarket BUZZ-Rises on partnership with Catalent to make potential COVID-19 vaccine ** Darden Restaurants DRI.N: up 1.3% premarket BUZZ-Rises on strong earnings forecast, improving weekly sales ** Accenture PLC ACN.N: up 5.5% premarket BUZZ-Rises after Q3 results beat expectations ** American Airlines AAL.O: down 4.2% premarket BUZZ-Falls as it prices $2.5 bln debt offer ** Translate Bio TBIO.O: down 3.6% premarket BUZZ-slides on planned share offer as Takeda looks to cash out (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock futures slipped further on Thursday following Wall Street's worst day in two weeks, as investors were unnerved by an alarming rise in new coronavirus cases and an elevated weekly jobless claims number. S&P 500 e-minis ESc1 were down 0.66% at 3,029, while Nasdaq 100 e-minis NQc1 were down 0.10% at 10,000.5.
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The top three NYSE percentage gainers premarket .PRPG.NQ: ** Gnc Holdings , up 45.2% ** Jupai Holdings Ltd , up 20.0% ** Hertz Global Holding , up 16.8% The top three NYSE percentage losers premarket .PRPL.NQ: ** Modine Manufacturing Co , down 16.1% ** Kb Home , down 16% ** Callon Petroleum Co , down 10.5% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Seanergy Maritime SHIPZ.O, up 86.0% ** Puhui Wealth Investment Management Co Ltd PHCF.O, up 65.2% ** Sini Global Shipping America Ltd , up 14.2% The top three Nasdaq percentage losers premarket .PRPL.O: ** Marin Software Inc , down 26.6% ** Farmer Bros Co , down 21.8% ** Xeris Pharmaceuticals Inc , down 19.7% ** Walt Disney Co DIS.N: down 2.7% premarket BUZZ-Falls as co delays reopening of California Disneyland ** Boeing Co BA.N: down 4.2% premarket BUZZ-Berenberg says Boeing to face MAX pressure until demand stabilizes, downgrades ** Magenta Therapeutics MGTA.O: down 18.3% premarket BUZZ-Falls on $60 mln stock offering ** UniQure QURE.O: down 16.5% premarket BUZZ-Falls as brokerages downgrade on 'pedestrian' licensing deal with CSL ** Evelo Biosciences EVLO.O: down 10.2% premarket BUZZ-Drops on $45 mln equity raise ** IZEA Worldwide Inc IZEA.O: up 25.1% premarket BUZZ-Jumps on raised sales outlook ** Virgin Galactic Holdings Inc SPCE.N: up 1.6% premarket BUZZ-Rises as SpaceShipTwo set for second test flight ** McCormick & Company Inc MKC.N: up 0.4% premarket BUZZ-Up as Q2 beats on rise in home cooking ** Moderna Inc MRNA.O: up 4.5% premarket BUZZ-Rises on partnership with Catalent to make potential COVID-19 vaccine ** Darden Restaurants DRI.N: up 1.3% premarket BUZZ-Rises on strong earnings forecast, improving weekly sales ** Accenture PLC ACN.N: up 5.5% premarket BUZZ-Rises after Q3 results beat expectations ** American Airlines AAL.O: down 4.2% premarket BUZZ-Falls as it prices $2.5 bln debt offer ** Translate Bio TBIO.O: down 3.6% premarket BUZZ-slides on planned share offer as Takeda looks to cash out (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock futures slipped further on Thursday following Wall Street's worst day in two weeks, as investors were unnerved by an alarming rise in new coronavirus cases and an elevated weekly jobless claims number. ET, Dow e-minis 1YMc1 were down 0.85% at 25,176.
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8ad5b2db-3d31-4c01-913f-10d6fbb2b51f
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5613.0
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2020-06-25 00:00:00 UTC
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Major U.S. airline CEOs to hold White House meeting Friday -sources
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AAL
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https://www.nasdaq.com/articles/major-u.s.-airline-ceos-to-hold-white-house-meeting-friday-sources-2020-06-25-0
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nan
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nan
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By David Shepardson and Tracy Rucinski
WASHINGTON/CHICAGO, June 25 (Reuters) - The chief executives of major U.S. airlines are set to hold a meeting Friday to discuss a range of coronavirus-related travel issues including the industry's push to convince the federal government to mandate temperature checks for passengers, three people briefed on the matter said.
The meeting with Vice President Mike Pence and other senior U.S. officials is expected to include the CEOs of American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N, United Airlines UAL.O and JetBlue Airways Corp JBLU.O, the sources said.
The discussions will also include potential extended European Union travel restrictions on U.S. travelers, contract tracing of passengers and the impact of COVID-19 on travel demand, among other issues, the sources said.
Airlines and the White House declined to comment on the meeting.
U.S. airlines are pushing the Trump administration to require temperature checks for passengers in a bid to reassure customers about the safety of travel in the face of the COVID-19 pandemic.
Airlines for America, which represents the largest U.S. airlines, said on Thursday its members voluntarily pledged to refund tickets for passengers with high temperatures during federal screenings.
Reuters reported May 9 the U.S. government has been studying imposing temperature checks at airports, but two U.S. officials said on Thursday no decision has been made - and the government still has not decided what agency would conduct tests.
Many believe the Transportation Security Administration (TSA) would conduct tests, but questions remain including whether passengers with high fevers would be reported to public health authorities.
"Nobody wants to be the person that tells a flying, paying customer they can't fly that day," United Executive Chairman Oscar Munoz said during a video conference Thursday.
U.S. officials said temperature checks would not eliminate coronavirus risks but could deter unwell people from traveling.
Earlier this month, Reuters reported the White House wants a plan in place by Sept. 1 for airlines to collect contact tracing information from U.S.-bound international passengers after convening a high-level White House meeting.
The White House tasked a interagency working group with adopting an interim solution by June 30 and ahead of any potential coronavirus second wave.
In February, the Centers for Disease Control (CDC) issued an interim final rule to require airlines to collect five contact data elements from international passengers and electronically submit them to Customs and Border Protection to facilitate contact tracing.
In the face of airline opposition the CDC plan has not taken effect.
Airlines for America said earlier this month airlines "strongly support a contract tracing solution that will provide the most secure data to the U.S. government in a timely and efficient manner."
(Reporting by David Shepardson and Tracy Rucinski; Editing by Shri Navaratnam and Christopher Cushing)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The meeting with Vice President Mike Pence and other senior U.S. officials is expected to include the CEOs of American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N, United Airlines UAL.O and JetBlue Airways Corp JBLU.O, the sources said. By David Shepardson and Tracy Rucinski WASHINGTON/CHICAGO, June 25 (Reuters) - The chief executives of major U.S. airlines are set to hold a meeting Friday to discuss a range of coronavirus-related travel issues including the industry's push to convince the federal government to mandate temperature checks for passengers, three people briefed on the matter said. U.S. airlines are pushing the Trump administration to require temperature checks for passengers in a bid to reassure customers about the safety of travel in the face of the COVID-19 pandemic.
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The meeting with Vice President Mike Pence and other senior U.S. officials is expected to include the CEOs of American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N, United Airlines UAL.O and JetBlue Airways Corp JBLU.O, the sources said. By David Shepardson and Tracy Rucinski WASHINGTON/CHICAGO, June 25 (Reuters) - The chief executives of major U.S. airlines are set to hold a meeting Friday to discuss a range of coronavirus-related travel issues including the industry's push to convince the federal government to mandate temperature checks for passengers, three people briefed on the matter said. In February, the Centers for Disease Control (CDC) issued an interim final rule to require airlines to collect five contact data elements from international passengers and electronically submit them to Customs and Border Protection to facilitate contact tracing.
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The meeting with Vice President Mike Pence and other senior U.S. officials is expected to include the CEOs of American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N, United Airlines UAL.O and JetBlue Airways Corp JBLU.O, the sources said. By David Shepardson and Tracy Rucinski WASHINGTON/CHICAGO, June 25 (Reuters) - The chief executives of major U.S. airlines are set to hold a meeting Friday to discuss a range of coronavirus-related travel issues including the industry's push to convince the federal government to mandate temperature checks for passengers, three people briefed on the matter said. Earlier this month, Reuters reported the White House wants a plan in place by Sept. 1 for airlines to collect contact tracing information from U.S.-bound international passengers after convening a high-level White House meeting.
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The meeting with Vice President Mike Pence and other senior U.S. officials is expected to include the CEOs of American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N, United Airlines UAL.O and JetBlue Airways Corp JBLU.O, the sources said. By David Shepardson and Tracy Rucinski WASHINGTON/CHICAGO, June 25 (Reuters) - The chief executives of major U.S. airlines are set to hold a meeting Friday to discuss a range of coronavirus-related travel issues including the industry's push to convince the federal government to mandate temperature checks for passengers, three people briefed on the matter said. U.S. officials said temperature checks would not eliminate coronavirus risks but could deter unwell people from traveling.
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09d221ab-e09d-4e05-89d5-d5c7607cc8eb
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5614.0
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2020-06-25 00:00:00 UTC
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Investors Should Buckle up for Another Potential Dip in Delta Air Lines Stock
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AAL
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https://www.nasdaq.com/articles/investors-should-buckle-up-for-another-potential-dip-in-delta-air-lines-stock-2020-06-25
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
The airline industry staged an incredible run-up at the start of June 2020 after spending months in a trading range. But since then, trading volumes fell as Covid-19 infections rose in many parts of the U.S. This threatens the pace of a rebound in the airline sector. Delta Air Lines (NYSE:DAL) stands out the most. The company issued a dour outlook that sent DAL stock lower overall last week.
Source: NextNewMedia / Shutterstock.com
Delta held a virtual annual meeting last week. Importantly, it noted continued progress on lowering its daily cash burn. On the call, Chief Executive Officer Ed Bastian said that Delta could expect June’s cash burn to be approximately $30 million per day.”
This is a sharp improvement from March when the world started dealing with the pandemic and the government ordered a shut-down of businesses. It burned $100 million a day at the time. The company is forecasting a cash flow break-even in Spring 2021.
Delta lowered the cash burn by cutting costs and benefiting from better net sales trends. The CARES Act added $3.8 billion in payroll support. The airline will get another $1.6 billion by the end of July 2020. Plus, it raised $14 billion in financing since March.
A Closer Look at DAL Stock
Buying Delta shares at this time will prove a gamble. Investors cannot forecast in advance on whether passenger traffic will continue increasing. Plus, the alarming spike in coronavirus cases could slow the business re-opening phase across the United States.
5 Housing Stocks to Buy Before the Housing Market Bounces Back
This will, in turn, hurt business travel traffic. Customers who initially grew confident in an economic rebound will not book a vacation that involves air travel.
Delta’s positive inflection point will not appear until flight counts grow at a faster pace. CEO Ed Bastian said that it added 1,000 flights a day for July. In August, it will add 1,000 more flights. At a 55% to 60% domestic capacity (compared to a normal schedule), value investors may start buying Delta stock.
Delta trades at a price-to-earnings ratio in the 5.5 times range. Its forward P/E is nearly 10 times. These multiples reflect the downside risks in the near-term while accounting for the steady traffic growth ahead.
Valuation
Source: Chart courtesy of StockRover.com
According to simplywall.st, DAL stock has a fair value of $37.74. Similarly, analysts have a $38.00 average price target. And on Stock Rover, the stock enjoys scores of over 80/100 on value, growth, and quality:
Considering that Delta’s surge to the $35 – $40 level did not last long at all, investors should exercise caution holding this stock for the long-term. Volatility may build, encouraging shareholders to reduce their position.
Restrictions for passengers that promote health and safety may hurt demand. But all airlines must consider the safety of its staff and the customers it serves. Banning passengers who refuse to wear masks is a necessity. Unless a passenger has a medical reason not to prevent the spread of coronavirus, everyone benefits from doing their part.
Chances are good that passengers will abide by the rules and will wear a mask. The lower the risks of catching the virus while on a flight, the better off the airline industry’s recovery will hold.
Your Takeaway
Investors may choose from a variety of airline stocks. American Airlines (NASDAQ:AAL) and Southwest Airlines (NYSE:LUV) offer a similar rebound potential to Delta Airlines.
And although Delta has an unfavorable debt/equity profile, its leveraged balance sheet is not a near-term risk. The company added plenty of cash and cut costs. While investors should wait for a bigger dip before buying, Delta is a compelling turnaround story.
Disclosure: As of this writing, the author did not hold a position in any of the aforementioned securities.
The post Investors Should Buckle up for Another Potential Dip in Delta Air Lines Stock appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines (NASDAQ:AAL) and Southwest Airlines (NYSE:LUV) offer a similar rebound potential to Delta Airlines. On the call, Chief Executive Officer Ed Bastian said that Delta could expect June’s cash burn to be approximately $30 million per day.” This is a sharp improvement from March when the world started dealing with the pandemic and the government ordered a shut-down of businesses. Customers who initially grew confident in an economic rebound will not book a vacation that involves air travel.
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American Airlines (NASDAQ:AAL) and Southwest Airlines (NYSE:LUV) offer a similar rebound potential to Delta Airlines. Delta Air Lines (NYSE:DAL) stands out the most. Delta lowered the cash burn by cutting costs and benefiting from better net sales trends.
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American Airlines (NASDAQ:AAL) and Southwest Airlines (NYSE:LUV) offer a similar rebound potential to Delta Airlines. InvestorPlace - Stock Market News, Stock Advice & Trading Tips The airline industry staged an incredible run-up at the start of June 2020 after spending months in a trading range. And on Stock Rover, the stock enjoys scores of over 80/100 on value, growth, and quality: Considering that Delta’s surge to the $35 – $40 level did not last long at all, investors should exercise caution holding this stock for the long-term.
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American Airlines (NASDAQ:AAL) and Southwest Airlines (NYSE:LUV) offer a similar rebound potential to Delta Airlines. It burned $100 million a day at the time. A Closer Look at DAL Stock Buying Delta shares at this time will prove a gamble.
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565249c1-05d3-48cf-aeba-843d50722074
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5615.0
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2020-06-25 00:00:00 UTC
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Anglo American to buy wind power energy from Brazil's Casa dos Ventos
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AAL
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https://www.nasdaq.com/articles/anglo-american-to-buy-wind-power-energy-from-brazils-casa-dos-ventos-2020-06-25
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nan
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nan
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SAO PAULO, June 25 (Reuters) - Global miner Anglo American AAL.L has reached an agreement to buy 95 megawatts of wind power from Brazil's Casa dos Ventos for 20 years, starting in 2022, according to a statement issued on Thursday.
Casa dos Ventos said its wind plant in the northeastern state of Rio Grande do Norte will provide Anglo American with roughly 30% of its energy consumption in Brazil.
The contract value has not been disclosed, but Casa dos Ventos said the agreement may lead Anglo American to buy a stake in its plants in the future.
(Reporting by Luciano Costa; writing by Carolina Mandl; editing by Jonathan Oatis)
((carolina.mandl@thomsonreuters.com; +55 11 5644 7703; +55 11 97116-3806;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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SAO PAULO, June 25 (Reuters) - Global miner Anglo American AAL.L has reached an agreement to buy 95 megawatts of wind power from Brazil's Casa dos Ventos for 20 years, starting in 2022, according to a statement issued on Thursday. Casa dos Ventos said its wind plant in the northeastern state of Rio Grande do Norte will provide Anglo American with roughly 30% of its energy consumption in Brazil. The contract value has not been disclosed, but Casa dos Ventos said the agreement may lead Anglo American to buy a stake in its plants in the future.
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SAO PAULO, June 25 (Reuters) - Global miner Anglo American AAL.L has reached an agreement to buy 95 megawatts of wind power from Brazil's Casa dos Ventos for 20 years, starting in 2022, according to a statement issued on Thursday. Casa dos Ventos said its wind plant in the northeastern state of Rio Grande do Norte will provide Anglo American with roughly 30% of its energy consumption in Brazil. The contract value has not been disclosed, but Casa dos Ventos said the agreement may lead Anglo American to buy a stake in its plants in the future.
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SAO PAULO, June 25 (Reuters) - Global miner Anglo American AAL.L has reached an agreement to buy 95 megawatts of wind power from Brazil's Casa dos Ventos for 20 years, starting in 2022, according to a statement issued on Thursday. Casa dos Ventos said its wind plant in the northeastern state of Rio Grande do Norte will provide Anglo American with roughly 30% of its energy consumption in Brazil. (Reporting by Luciano Costa; writing by Carolina Mandl; editing by Jonathan Oatis) ((carolina.mandl@thomsonreuters.com; +55 11 5644 7703; +55 11 97116-3806;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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SAO PAULO, June 25 (Reuters) - Global miner Anglo American AAL.L has reached an agreement to buy 95 megawatts of wind power from Brazil's Casa dos Ventos for 20 years, starting in 2022, according to a statement issued on Thursday. Casa dos Ventos said its wind plant in the northeastern state of Rio Grande do Norte will provide Anglo American with roughly 30% of its energy consumption in Brazil. The contract value has not been disclosed, but Casa dos Ventos said the agreement may lead Anglo American to buy a stake in its plants in the future.
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af3ab453-5a25-4a0a-8371-7561d8f4e213
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5616.0
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2020-06-25 00:00:00 UTC
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When Is the Right Time to Buy Delta Stock?
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AAL
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https://www.nasdaq.com/articles/when-is-the-right-time-to-buy-delta-stock-2020-06-25
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
[Editor’s Note: “Stay on the Sidelines While Delta (DAL) Stock Is Up in the Air” was originally published April 13, 2020. It is regularly updated to include the most relevant information.]
Source: Markus Mainka / Shutterstock.com
With airline shares pulling back, what’s next for Delta Air Lines (NYSE:DAL) stock? “Second wave” novel coronavirus concerns are starting to take hold. The recent bullishness for a V-shaped sector recovery looks more than a long-shot right now.
Is this latest development a mere hiccup, or a sign that tough times will continue? It’s debatable. On one hand, the airline industry is fast adapting to the “new normal.” On the other hand, even if the pandemic continues to fade, it could be years until a rebound happens, as some industry leaders have predicted.
Yet, while airline stocks remain risky, Delta may be a cautious way to bet on a sooner-than-expected recovery for the industry.
Why? Some analysts see Delta as relatively stronger than legacy rivals like American Airlines (NASDAQ:AAL) and United Airlines (NASDAQ:UAL). Sure, some see it differently, as their financial situation overall remains precarious. But, as the “best of the worst,” shares may still be a worthwhile buy.
Let’s dive in, and see why it could be a shrewd move in hindsight to jump in if prices continue to pull back from here.
What’s Next for DAL Stock After Covid-19?
The three major legacy airlines, American, Delta, and United, all face big trouble from the coronavirus. With the lion’s share of their routes inactive, cash is quickly flying out of the window.
Previously, Stifel’s Joseph DeNardi cited Delta as being financially stronger relative to rivals like American.
But now, it’s tougher to make such an upbeat case. As InvestorPlace’s Will Ashworth wrote Jun 24, bankruptcy is still a possibility for the carrier. Even upcoming cash burn reductions may not be enough to keep them out of Chapter 11.
Or is it? Despite the high risks, they may have enough capital to wait things out. According to Raymond James’ Savanthi Syth, the company has about 11 months of liquidity. And, given consumers on average have said they’ll wait another 7.5 months before hopping on a plane, that may be enough to ride out near-term depressed air travel levels.
However, a swift recovery remains a long shot. It may be up to five years before airlines recover from the coronavirus. Also, airline stocks could pull back again on the heels of additional bad news. Air travel may be slowly returning. But, with flights no more than 60% full, profitability will remain a challenge.
Did Airline Stocks Get Ahead of Themselves?
Back in April, Warren Buffett sold Berkshire Hathaway’s (NYSE:BRK.A, NYSE:BRK.B) stake in DAL, along with other airline stocks like American, United, and Southwest Airlines (NYSE:LUV). At the time, investors saw it as a clear sign that the industry’s near-term prospects were bleak.
Yet, this bearish forecast took a 180 in early June, as investors piled back into hard-hit stocks, especially airlines. Delta shares more than doubled off their lows, as speculation of a rapid airline recovery pushed shares significantly higher.
But, as this commentator noted, whether investors should be bullish or bearish on airline stocks remains up for debate. The airlines were much more resilient going into this crisis than they’ve been in prior major downturns.
However, even if domestic leisure travels quickly bounces back, international and corporate travel could still remain depressed. In short, it’s still too early to tell whether Buffett sold at the bottom, or if airline stocks could fall further if tough times continue.
However, additional pullbacks may not rule out DAL stock as a buying opportunity. If shares fall further, they may be worth the risk.
Keep DAL Stock On Your Radar, Even If Things Remain Up in the Air
Delta is relatively stronger than its legacy rivals. But it’s all relative. With billions flying out the door each month due to the coronavirus, the company faces a tough road ahead. Travel demand may be slowly bouncing back. But that doesn’t mean a swift return to profitability.
Yet, if bleak prospects get priced back into shares, we could reach a compelling entry point. Sure, high risk remains on the table. But, Delta stock may be the most cautious way to play this still hard-hit sector.
Thomas Niel, contributor to InvestorPlace, has written single-stock analysis for web-based publications since 2016. As of this writing, Thomas Niel did not hold a position in any of the aforementioned securities.
The post When Is the Right Time to Buy Delta Stock? appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Some analysts see Delta as relatively stronger than legacy rivals like American Airlines (NASDAQ:AAL) and United Airlines (NASDAQ:UAL). Source: Markus Mainka / Shutterstock.com With airline shares pulling back, what’s next for Delta Air Lines (NYSE:DAL) stock? And, given consumers on average have said they’ll wait another 7.5 months before hopping on a plane, that may be enough to ride out near-term depressed air travel levels.
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Some analysts see Delta as relatively stronger than legacy rivals like American Airlines (NASDAQ:AAL) and United Airlines (NASDAQ:UAL). The three major legacy airlines, American, Delta, and United, all face big trouble from the coronavirus. Back in April, Warren Buffett sold Berkshire Hathaway’s (NYSE:BRK.A, NYSE:BRK.B) stake in DAL, along with other airline stocks like American, United, and Southwest Airlines (NYSE:LUV).
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Some analysts see Delta as relatively stronger than legacy rivals like American Airlines (NASDAQ:AAL) and United Airlines (NASDAQ:UAL). InvestorPlace - Stock Market News, Stock Advice & Trading Tips [Editor’s Note: “Stay on the Sidelines While Delta (DAL) Stock Is Up in the Air” was originally published April 13, 2020. Source: Markus Mainka / Shutterstock.com With airline shares pulling back, what’s next for Delta Air Lines (NYSE:DAL) stock?
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Some analysts see Delta as relatively stronger than legacy rivals like American Airlines (NASDAQ:AAL) and United Airlines (NASDAQ:UAL). The three major legacy airlines, American, Delta, and United, all face big trouble from the coronavirus. Keep DAL Stock On Your Radar, Even If Things Remain Up in the Air Delta is relatively stronger than its legacy rivals.
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c543a79d-620a-4db2-83da-5783798ee8e7
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5617.0
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2020-06-25 00:00:00 UTC
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S&P 500 Movers: VIAC, ACN
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AAL
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https://www.nasdaq.com/articles/sp-500-movers%3A-viac-acn-2020-06-25
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nan
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nan
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In early trading on Thursday, shares of Accenture topped the list of the day's best performing components of the S&P 500 index, trading up 6.5%. Year to date, Accenture registers a 2.1% gain.
And the worst performing S&P 500 component thus far on the day is ViacomCBS, trading down 4.8%. ViacomCBS is lower by about 46.5% looking at the year to date performance.
Two other components making moves today are American Airlines Group, trading down 4.0%, and Ameriprise Financial, trading up 5.0% on the day.
VIDEO: S&P 500 Movers: VIAC, ACN
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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And the worst performing S&P 500 component thus far on the day is ViacomCBS, trading down 4.8%. ViacomCBS is lower by about 46.5% looking at the year to date performance. VIDEO: S&P 500 Movers: VIAC, ACN The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In early trading on Thursday, shares of Accenture topped the list of the day's best performing components of the S&P 500 index, trading up 6.5%. Year to date, Accenture registers a 2.1% gain. And the worst performing S&P 500 component thus far on the day is ViacomCBS, trading down 4.8%.
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In early trading on Thursday, shares of Accenture topped the list of the day's best performing components of the S&P 500 index, trading up 6.5%. And the worst performing S&P 500 component thus far on the day is ViacomCBS, trading down 4.8%. Two other components making moves today are American Airlines Group, trading down 4.0%, and Ameriprise Financial, trading up 5.0% on the day.
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And the worst performing S&P 500 component thus far on the day is ViacomCBS, trading down 4.8%. ViacomCBS is lower by about 46.5% looking at the year to date performance. VIDEO: S&P 500 Movers: VIAC, ACN The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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71bc031d-f5d9-4e1e-9bf9-f04a3ff3e21f
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5618.0
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2020-06-25 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Stratus Properties, Beyond Meat, Anterix
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AAL
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-stratus-properties-beyond-meat-anterix-2020-06-25
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nan
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nan
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Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's main indexes were largely flat on Thursday, as gains in financial and energy shares helped recoup early losses on an alarming rise in new coronavirus cases and elevated jobless claims. .N
At 11:30 a.m. ET, the Dow Jones Industrial Average .DJI was down 0.29% at 25,372.19. The S&P 500 .SPX was down 0.31% at 3,040.74 and the Nasdaq Composite .IXIC was down 0.16% at 9,892.899. The top three S&P 500 .PG.INX percentage gainers: ** Accenture Plc , up 5.7% ** Darden Restaurants Inc , up 5.1% ** National Oilwell Varco Inc , up 4.6% The top three S&P 500 .PL.INX percentage losers: ** Ross Stores Inc , down 4.8% ** Viacomcbs Inc , down 4.7% ** Wynn Resorts , down 4.6% The top three NYSE .PG.N percentage gainers: ** Rite Aid Corp RAD.N, up 21.7% ** Farfetch Ltd FTCH.N, up 18.1% ** Factset Research Systems Inc , up 12.1% The top three NYSE .PL.N percentage losers: ** Kaleyra Inc Ord KLR.N, down 16.7% ** Kb Home KBH.N, down 12.3% ** Armstrong Worldwide Industries Inc , down 12.3% The top three Nasdaq .PG.O percentage gainers: ** Ekso Bionics Holding , up 130.2% ** Aptevo Therapeutics Inc , up 74.4% ** Vaxart Inc , up 40.4% The top three Nasdaq .PL.O percentage losers: ** Xeris Pharmaceuticals , down 38.8% ** Uniqure Nv , down 20.5% ** Magenta Therapeutics , down 18.5% ** Walt Disney Co DIS.N: down 2.3%
BUZZ-Falls as co delays reopening of California Disneyland ** Boeing Co BA.N: down 2.5%
BUZZ-Berenberg says Boeing to face MAX pressure until demand stabilizes, downgrades ** Magenta Therapeutics MGTA.O: down 18.5%
BUZZ-Falls on $60 mln stock offering ** UniQure QURE.O: down 20.5%
BUZZ-Falls as brokerages downgrade on 'pedestrian' licensing deal with CSL ** Pioneer Natural Resources Co PXD.N: up 2.5%
BUZZ-SunTrust upgrades to 'buy', expects 2021 FCF to top Street estimates ** IZEA Worldwide Inc IZEA.O: up 7.0%
BUZZ-Jumps on raised sales outlook ** McCormick & Company Inc MKC.N: up 3.0%
BUZZ-Up as Q2 beats on rise in home cooking ** Darden Restaurants DRI.N: up 4.9%
BUZZ-Rises on strong earnings forecast, improving weekly sales ** Accenture PLC ACN.N: up 5.6%
BUZZ-Rises after Q3 results beat expectations ** American Airlines AAL.O: down 4.3%
BUZZ-Falls as it prices $2.5 bln debt offer ** Translate Bio TBIO.O: down 8.7%
BUZZ-Slides on planned share offer as Takeda looks to cash out ** NantKwest NK.O: down 9.9%
BUZZ-Falls after pricing upsized equity offering; CEO buys shares ** Par Pacific PARR.N: down 2.8%
BUZZ-Lack of shareholder returns keeps CS on sidelines ** Vaxart Inc VXRT.O: up 40.4%
BUZZ-Jumps on agreement to produce COVID-19 vaccine ** Xeris Pharma XERS.O: down 38.8%
BUZZ-Plunges on planned stock, convertible offerings ** DraftKings DKS.N: down 2.1%
BUZZ-Falls as activist investor cuts stake ** Rite Aid RAD.N: up 21.7%
BUZZ-Jumps as OTC medicines fuel revenue beat ** Anterix ATEX.O: down 1.8%
BUZZ-Falls after leadership shuffle ** Beyond Meat BYND.O: down 5.3%
BUZZ-Falls on report of McDonald's Canada having no plans to add burger to menu ** Stratus Properties STRS.O: up 11.0%
BUZZ-Gains after higher revenue, cash position in Q1
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
down 0.20%
Consumer Discretionary
.SPLRCD
down 0.88%
Consumer Staples
.SPLRCS
down 0.19%
Energy
.SPNY
up 0.10%
Financial
.SPSY
up 0.90%
Health
.SPXHC
down 0.37%
Industrial
.SPLRCI
down 0.84%
Information Technology
.SPLRCT
down 0.19%
Materials
.SPLRCM
down 0.68%
Real Estate
.SPLRCR
down 0.46%
Utilities
.SPLRCU
down 2.25%
(Compiled by Shivani Kumaresan in Bengaluru)
((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Accenture Plc , up 5.7% ** Darden Restaurants Inc , up 5.1% ** National Oilwell Varco Inc , up 4.6% The top three S&P 500 .PL.INX percentage losers: ** Ross Stores Inc , down 4.8% ** Viacomcbs Inc , down 4.7% ** Wynn Resorts , down 4.6% The top three NYSE .PG.N percentage gainers: ** Rite Aid Corp RAD.N, up 21.7% ** Farfetch Ltd FTCH.N, up 18.1% ** Factset Research Systems Inc , up 12.1% The top three NYSE .PL.N percentage losers: ** Kaleyra Inc Ord KLR.N, down 16.7% ** Kb Home KBH.N, down 12.3% ** Armstrong Worldwide Industries Inc , down 12.3% The top three Nasdaq .PG.O percentage gainers: ** Ekso Bionics Holding , up 130.2% ** Aptevo Therapeutics Inc , up 74.4% ** Vaxart Inc , up 40.4% The top three Nasdaq .PL.O percentage losers: ** Xeris Pharmaceuticals , down 38.8% ** Uniqure Nv , down 20.5% ** Magenta Therapeutics , down 18.5% ** Walt Disney Co DIS.N: down 2.3% BUZZ-Falls as co delays reopening of California Disneyland ** Boeing Co BA.N: down 2.5% BUZZ-Berenberg says Boeing to face MAX pressure until demand stabilizes, downgrades ** Magenta Therapeutics MGTA.O: down 18.5% BUZZ-Falls on $60 mln stock offering ** UniQure QURE.O: down 20.5% BUZZ-Falls as brokerages downgrade on 'pedestrian' licensing deal with CSL ** Pioneer Natural Resources Co PXD.N: up 2.5% BUZZ-SunTrust upgrades to 'buy', expects 2021 FCF to top Street estimates ** IZEA Worldwide Inc IZEA.O: up 7.0% BUZZ-Jumps on raised sales outlook ** McCormick & Company Inc MKC.N: up 3.0% BUZZ-Up as Q2 beats on rise in home cooking ** Darden Restaurants DRI.N: up 4.9% BUZZ-Rises on strong earnings forecast, improving weekly sales ** Accenture PLC ACN.N: up 5.6% BUZZ-Rises after Q3 results beat expectations ** American Airlines AAL.O: down 4.3% BUZZ-Falls as it prices $2.5 bln debt offer ** Translate Bio TBIO.O: down 8.7% BUZZ-Slides on planned share offer as Takeda looks to cash out ** NantKwest NK.O: down 9.9% BUZZ-Falls after pricing upsized equity offering; CEO buys shares ** Par Pacific PARR.N: down 2.8% BUZZ-Lack of shareholder returns keeps CS on sidelines ** Vaxart Inc VXRT.O: up 40.4% BUZZ-Jumps on agreement to produce COVID-19 vaccine ** Xeris Pharma XERS.O: down 38.8% BUZZ-Plunges on planned stock, convertible offerings ** DraftKings DKS.N: down 2.1% BUZZ-Falls as activist investor cuts stake ** Rite Aid RAD.N: up 21.7% BUZZ-Jumps as OTC medicines fuel revenue beat ** Anterix ATEX.O: down 1.8% BUZZ-Falls after leadership shuffle ** Beyond Meat BYND.O: down 5.3% BUZZ-Falls on report of McDonald's Canada having no plans to add burger to menu ** Stratus Properties STRS.O: up 11.0% BUZZ-Gains after higher revenue, cash position in Q1 The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were largely flat on Thursday, as gains in financial and energy shares helped recoup early losses on an alarming rise in new coronavirus cases and elevated jobless claims. down 2.25% (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Accenture Plc , up 5.7% ** Darden Restaurants Inc , up 5.1% ** National Oilwell Varco Inc , up 4.6% The top three S&P 500 .PL.INX percentage losers: ** Ross Stores Inc , down 4.8% ** Viacomcbs Inc , down 4.7% ** Wynn Resorts , down 4.6% The top three NYSE .PG.N percentage gainers: ** Rite Aid Corp RAD.N, up 21.7% ** Farfetch Ltd FTCH.N, up 18.1% ** Factset Research Systems Inc , up 12.1% The top three NYSE .PL.N percentage losers: ** Kaleyra Inc Ord KLR.N, down 16.7% ** Kb Home KBH.N, down 12.3% ** Armstrong Worldwide Industries Inc , down 12.3% The top three Nasdaq .PG.O percentage gainers: ** Ekso Bionics Holding , up 130.2% ** Aptevo Therapeutics Inc , up 74.4% ** Vaxart Inc , up 40.4% The top three Nasdaq .PL.O percentage losers: ** Xeris Pharmaceuticals , down 38.8% ** Uniqure Nv , down 20.5% ** Magenta Therapeutics , down 18.5% ** Walt Disney Co DIS.N: down 2.3% BUZZ-Falls as co delays reopening of California Disneyland ** Boeing Co BA.N: down 2.5% BUZZ-Berenberg says Boeing to face MAX pressure until demand stabilizes, downgrades ** Magenta Therapeutics MGTA.O: down 18.5% BUZZ-Falls on $60 mln stock offering ** UniQure QURE.O: down 20.5% BUZZ-Falls as brokerages downgrade on 'pedestrian' licensing deal with CSL ** Pioneer Natural Resources Co PXD.N: up 2.5% BUZZ-SunTrust upgrades to 'buy', expects 2021 FCF to top Street estimates ** IZEA Worldwide Inc IZEA.O: up 7.0% BUZZ-Jumps on raised sales outlook ** McCormick & Company Inc MKC.N: up 3.0% BUZZ-Up as Q2 beats on rise in home cooking ** Darden Restaurants DRI.N: up 4.9% BUZZ-Rises on strong earnings forecast, improving weekly sales ** Accenture PLC ACN.N: up 5.6% BUZZ-Rises after Q3 results beat expectations ** American Airlines AAL.O: down 4.3% BUZZ-Falls as it prices $2.5 bln debt offer ** Translate Bio TBIO.O: down 8.7% BUZZ-Slides on planned share offer as Takeda looks to cash out ** NantKwest NK.O: down 9.9% BUZZ-Falls after pricing upsized equity offering; CEO buys shares ** Par Pacific PARR.N: down 2.8% BUZZ-Lack of shareholder returns keeps CS on sidelines ** Vaxart Inc VXRT.O: up 40.4% BUZZ-Jumps on agreement to produce COVID-19 vaccine ** Xeris Pharma XERS.O: down 38.8% BUZZ-Plunges on planned stock, convertible offerings ** DraftKings DKS.N: down 2.1% BUZZ-Falls as activist investor cuts stake ** Rite Aid RAD.N: up 21.7% BUZZ-Jumps as OTC medicines fuel revenue beat ** Anterix ATEX.O: down 1.8% BUZZ-Falls after leadership shuffle ** Beyond Meat BYND.O: down 5.3% BUZZ-Falls on report of McDonald's Canada having no plans to add burger to menu ** Stratus Properties STRS.O: up 11.0% BUZZ-Gains after higher revenue, cash position in Q1 The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were largely flat on Thursday, as gains in financial and energy shares helped recoup early losses on an alarming rise in new coronavirus cases and elevated jobless claims. down 2.25% (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Accenture Plc , up 5.7% ** Darden Restaurants Inc , up 5.1% ** National Oilwell Varco Inc , up 4.6% The top three S&P 500 .PL.INX percentage losers: ** Ross Stores Inc , down 4.8% ** Viacomcbs Inc , down 4.7% ** Wynn Resorts , down 4.6% The top three NYSE .PG.N percentage gainers: ** Rite Aid Corp RAD.N, up 21.7% ** Farfetch Ltd FTCH.N, up 18.1% ** Factset Research Systems Inc , up 12.1% The top three NYSE .PL.N percentage losers: ** Kaleyra Inc Ord KLR.N, down 16.7% ** Kb Home KBH.N, down 12.3% ** Armstrong Worldwide Industries Inc , down 12.3% The top three Nasdaq .PG.O percentage gainers: ** Ekso Bionics Holding , up 130.2% ** Aptevo Therapeutics Inc , up 74.4% ** Vaxart Inc , up 40.4% The top three Nasdaq .PL.O percentage losers: ** Xeris Pharmaceuticals , down 38.8% ** Uniqure Nv , down 20.5% ** Magenta Therapeutics , down 18.5% ** Walt Disney Co DIS.N: down 2.3% BUZZ-Falls as co delays reopening of California Disneyland ** Boeing Co BA.N: down 2.5% BUZZ-Berenberg says Boeing to face MAX pressure until demand stabilizes, downgrades ** Magenta Therapeutics MGTA.O: down 18.5% BUZZ-Falls on $60 mln stock offering ** UniQure QURE.O: down 20.5% BUZZ-Falls as brokerages downgrade on 'pedestrian' licensing deal with CSL ** Pioneer Natural Resources Co PXD.N: up 2.5% BUZZ-SunTrust upgrades to 'buy', expects 2021 FCF to top Street estimates ** IZEA Worldwide Inc IZEA.O: up 7.0% BUZZ-Jumps on raised sales outlook ** McCormick & Company Inc MKC.N: up 3.0% BUZZ-Up as Q2 beats on rise in home cooking ** Darden Restaurants DRI.N: up 4.9% BUZZ-Rises on strong earnings forecast, improving weekly sales ** Accenture PLC ACN.N: up 5.6% BUZZ-Rises after Q3 results beat expectations ** American Airlines AAL.O: down 4.3% BUZZ-Falls as it prices $2.5 bln debt offer ** Translate Bio TBIO.O: down 8.7% BUZZ-Slides on planned share offer as Takeda looks to cash out ** NantKwest NK.O: down 9.9% BUZZ-Falls after pricing upsized equity offering; CEO buys shares ** Par Pacific PARR.N: down 2.8% BUZZ-Lack of shareholder returns keeps CS on sidelines ** Vaxart Inc VXRT.O: up 40.4% BUZZ-Jumps on agreement to produce COVID-19 vaccine ** Xeris Pharma XERS.O: down 38.8% BUZZ-Plunges on planned stock, convertible offerings ** DraftKings DKS.N: down 2.1% BUZZ-Falls as activist investor cuts stake ** Rite Aid RAD.N: up 21.7% BUZZ-Jumps as OTC medicines fuel revenue beat ** Anterix ATEX.O: down 1.8% BUZZ-Falls after leadership shuffle ** Beyond Meat BYND.O: down 5.3% BUZZ-Falls on report of McDonald's Canada having no plans to add burger to menu ** Stratus Properties STRS.O: up 11.0% BUZZ-Gains after higher revenue, cash position in Q1 The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were largely flat on Thursday, as gains in financial and energy shares helped recoup early losses on an alarming rise in new coronavirus cases and elevated jobless claims. down 0.20% Consumer Discretionary
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The top three S&P 500 .PG.INX percentage gainers: ** Accenture Plc , up 5.7% ** Darden Restaurants Inc , up 5.1% ** National Oilwell Varco Inc , up 4.6% The top three S&P 500 .PL.INX percentage losers: ** Ross Stores Inc , down 4.8% ** Viacomcbs Inc , down 4.7% ** Wynn Resorts , down 4.6% The top three NYSE .PG.N percentage gainers: ** Rite Aid Corp RAD.N, up 21.7% ** Farfetch Ltd FTCH.N, up 18.1% ** Factset Research Systems Inc , up 12.1% The top three NYSE .PL.N percentage losers: ** Kaleyra Inc Ord KLR.N, down 16.7% ** Kb Home KBH.N, down 12.3% ** Armstrong Worldwide Industries Inc , down 12.3% The top three Nasdaq .PG.O percentage gainers: ** Ekso Bionics Holding , up 130.2% ** Aptevo Therapeutics Inc , up 74.4% ** Vaxart Inc , up 40.4% The top three Nasdaq .PL.O percentage losers: ** Xeris Pharmaceuticals , down 38.8% ** Uniqure Nv , down 20.5% ** Magenta Therapeutics , down 18.5% ** Walt Disney Co DIS.N: down 2.3% BUZZ-Falls as co delays reopening of California Disneyland ** Boeing Co BA.N: down 2.5% BUZZ-Berenberg says Boeing to face MAX pressure until demand stabilizes, downgrades ** Magenta Therapeutics MGTA.O: down 18.5% BUZZ-Falls on $60 mln stock offering ** UniQure QURE.O: down 20.5% BUZZ-Falls as brokerages downgrade on 'pedestrian' licensing deal with CSL ** Pioneer Natural Resources Co PXD.N: up 2.5% BUZZ-SunTrust upgrades to 'buy', expects 2021 FCF to top Street estimates ** IZEA Worldwide Inc IZEA.O: up 7.0% BUZZ-Jumps on raised sales outlook ** McCormick & Company Inc MKC.N: up 3.0% BUZZ-Up as Q2 beats on rise in home cooking ** Darden Restaurants DRI.N: up 4.9% BUZZ-Rises on strong earnings forecast, improving weekly sales ** Accenture PLC ACN.N: up 5.6% BUZZ-Rises after Q3 results beat expectations ** American Airlines AAL.O: down 4.3% BUZZ-Falls as it prices $2.5 bln debt offer ** Translate Bio TBIO.O: down 8.7% BUZZ-Slides on planned share offer as Takeda looks to cash out ** NantKwest NK.O: down 9.9% BUZZ-Falls after pricing upsized equity offering; CEO buys shares ** Par Pacific PARR.N: down 2.8% BUZZ-Lack of shareholder returns keeps CS on sidelines ** Vaxart Inc VXRT.O: up 40.4% BUZZ-Jumps on agreement to produce COVID-19 vaccine ** Xeris Pharma XERS.O: down 38.8% BUZZ-Plunges on planned stock, convertible offerings ** DraftKings DKS.N: down 2.1% BUZZ-Falls as activist investor cuts stake ** Rite Aid RAD.N: up 21.7% BUZZ-Jumps as OTC medicines fuel revenue beat ** Anterix ATEX.O: down 1.8% BUZZ-Falls after leadership shuffle ** Beyond Meat BYND.O: down 5.3% BUZZ-Falls on report of McDonald's Canada having no plans to add burger to menu ** Stratus Properties STRS.O: up 11.0% BUZZ-Gains after higher revenue, cash position in Q1 The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were largely flat on Thursday, as gains in financial and energy shares helped recoup early losses on an alarming rise in new coronavirus cases and elevated jobless claims. ET, the Dow Jones Industrial Average .DJI was down 0.29% at 25,372.19.
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12338fc6-4d3a-4ae4-8386-820833cea020
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5619.0
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2020-06-25 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Ekso Bionics, World Wrestling Entertainment, BlackBerry
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AAL
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-ekso-bionics-world-wrestling-entertainment-blackberry-2020-06
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nan
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nan
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Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's main indexes edged higher in choppy trading on Thursday, as gains in financial and energy shares helped recoup early losses due to an alarming rise in new coronavirus cases and elevated jobless claims. .N
At 13:00 ET, the Dow Jones Industrial Average .DJI was up 0.17% at 25,489.1. The S&P 500 .SPX was up 0.13% at 3,054.34 and the Nasdaq Composite .IXIC was up 0.22% at 9,931.21. The top three S&P 500 .PG.INX percentage gainers: ** National Oilwell Varco Inc , up 8.4% ** Accenture Plc , up 6.1% ** Ameriprise Financial , up 4.7% The top three S&P 500 .PL.INX percentage losers: ** Ross Stores , down 4.3% ** Kohl's Corp , down 3.9% ** Ulta Beauty Inc , down 3.7% The top three NYSE .PG.N percentage gainers: ** Rite Aid Corp , up 26.1% ** Farfetch Ltd FTCH.N, up 18.4% ** Earthstone Energy Inc , up 18.0% The top three NYSE .PL.N percentage losers: ** Kaleyra Inc Ord KLR.N, down 15.3% ** KB Home , down 11.3% ** AMC Entertainment Holdings Inc , down 13.9% The top three Nasdaq .PG.O percentage gainers: ** Ekso Bionics Holding , up 159.4% ** Aptevo Therapeutics , up 68% ** Puhui Wealth Investment Management Co , up 57% The top three Nasdaq .PL.O percentage losers: ** Xeris Pharmaceuticals , down 36.9% ** Uniqure NV , down 20.5% ** Magenta Therapeutics , down 19.5% ** Farfetch FTCH.N: up 18.4%
BUZZ-Gains on upbeat Q2 forecast as more luxury buyers shop online ** Walt Disney Co DIS.N: down 2.0%
BUZZ-Falls as co delays reopening of California Disneyland ** Boeing Co BA.N: down 2.5%
BUZZ-Berenberg says Boeing to face MAX pressure until demand stabilizes, downgrades ** Magenta Therapeutics MGTA.O: down 19.5%
BUZZ-Falls on $60 mln stock offering ** Pioneer Natural Resources Co PXD.N: up 4.1%
BUZZ-SunTrust upgrades to 'buy', expects 2021 FCF to top Street estimates ** IZEA Worldwide Inc IZEA.O: up 7.5%
BUZZ-Jumps on raised sales outlook ** McCormick & Company Inc MKC.N: up 2.6%
BUZZ-Up as Q2 beats on rise in home cooking ** Darden Restaurants DRI.N: up 3.8%
BUZZ-Rises on strong earnings forecast, improving weekly sales ** Accenture PLC ACN.N: up 6.1%
BUZZ-Rises after Q3 results beat expectations ** American Airlines AAL.O: down 3.4%
BUZZ-Falls as it prices $2.5 bln debt offer ** Translate Bio TBIO.O: down 10.6%
BUZZ-Slides on planned share offer as Takeda looks to cash out ** NantKwest NK.O: down 8.6%
BUZZ-Falls after pricing upsized equity offering; CEO buys shares ** Par Pacific PARR.N: down 1.9%
BUZZ-Lack of shareholder returns keeps CS on sidelines ** Vaxart Inc VXRT.O: up 38.4%
BUZZ-Jumps on agreement to produce COVID-19 vaccine ** Xeris Pharma XERS.O: down 36.9%
BUZZ-Plunges on planned stock, convertible offerings ** DraftKings DKS.N: down 1.8%
BUZZ-Falls as activist investor cuts stake ** Rite Aid RAD.N: up 26.1%
BUZZ-Jumps as OTC medicines fuel revenue beat ** Anterix ATEX.O: down 0.7%
BUZZ-Falls after leadership shuffle ** Beyond Meat BYND.O: down 4.3%
BUZZ-Falls on report of McDonald's Canada having no plans to add burger to menu ** Stratus Properties STRS.O: up 11.0%
BUZZ-Gains after higher revenue, cash position in Q1 ** Moderna MRNA.O: down 4.9%
BUZZ-Drops after report says NIH claims joint ownership of COVID-19 vaccine candidate ** Aptevo Therapeutics APVO.O: up 68.0%
BUZZ-Surges on royalty payment for biosimilar from Pfizer ** BlackBerry BB.N: down 1.5%
BUZZ-Falls as Q1 revenue misses on virus hit ** World Wrestling Entertainment Inc WWE.N: down 1.8%
BUZZ-Falls as 'multiple' wrestlers test positive for COVID-19 ** Ekso Bionics EKSO.O: up 159.4%
BUZZ-Surges on FDA nod to sell robotic exoskeleton ** FactSet FDS.N: up 14.9%
BUZZ-Gains on upbeat FY 2020 profit forecast
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 0.02%
Consumer Discretionary
.SPLRCD
down 0.47%
Consumer Staples
.SPLRCS
down 0.03%
Energy
.SPNY
up 0.73%
Financial
.SPSY
up 1.73%
Health
.SPXHC
up 0.06%
Industrial
.SPLRCI
down 0.19%
Information Technology
.SPLRCT
up 0.23%
Materials
.SPLRCM
down 0.09%
Real Estate
.SPLRCR
down 0.25%
Utilities
.SPLRCU
down 1.81%
(Compiled by Shivani Kumaresan in Bengaluru)
((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** National Oilwell Varco Inc , up 8.4% ** Accenture Plc , up 6.1% ** Ameriprise Financial , up 4.7% The top three S&P 500 .PL.INX percentage losers: ** Ross Stores , down 4.3% ** Kohl's Corp , down 3.9% ** Ulta Beauty Inc , down 3.7% The top three NYSE .PG.N percentage gainers: ** Rite Aid Corp , up 26.1% ** Farfetch Ltd FTCH.N, up 18.4% ** Earthstone Energy Inc , up 18.0% The top three NYSE .PL.N percentage losers: ** Kaleyra Inc Ord KLR.N, down 15.3% ** KB Home , down 11.3% ** AMC Entertainment Holdings Inc , down 13.9% The top three Nasdaq .PG.O percentage gainers: ** Ekso Bionics Holding , up 159.4% ** Aptevo Therapeutics , up 68% ** Puhui Wealth Investment Management Co , up 57% The top three Nasdaq .PL.O percentage losers: ** Xeris Pharmaceuticals , down 36.9% ** Uniqure NV , down 20.5% ** Magenta Therapeutics , down 19.5% ** Farfetch FTCH.N: up 18.4% BUZZ-Gains on upbeat Q2 forecast as more luxury buyers shop online ** Walt Disney Co DIS.N: down 2.0% BUZZ-Falls as co delays reopening of California Disneyland ** Boeing Co BA.N: down 2.5% BUZZ-Berenberg says Boeing to face MAX pressure until demand stabilizes, downgrades ** Magenta Therapeutics MGTA.O: down 19.5% BUZZ-Falls on $60 mln stock offering ** Pioneer Natural Resources Co PXD.N: up 4.1% BUZZ-SunTrust upgrades to 'buy', expects 2021 FCF to top Street estimates ** IZEA Worldwide Inc IZEA.O: up 7.5% BUZZ-Jumps on raised sales outlook ** McCormick & Company Inc MKC.N: up 2.6% BUZZ-Up as Q2 beats on rise in home cooking ** Darden Restaurants DRI.N: up 3.8% BUZZ-Rises on strong earnings forecast, improving weekly sales ** Accenture PLC ACN.N: up 6.1% BUZZ-Rises after Q3 results beat expectations ** American Airlines AAL.O: down 3.4% BUZZ-Falls as it prices $2.5 bln debt offer ** Translate Bio TBIO.O: down 10.6% BUZZ-Slides on planned share offer as Takeda looks to cash out ** NantKwest NK.O: down 8.6% BUZZ-Falls after pricing upsized equity offering; CEO buys shares ** Par Pacific PARR.N: down 1.9% BUZZ-Lack of shareholder returns keeps CS on sidelines ** Vaxart Inc VXRT.O: up 38.4% BUZZ-Jumps on agreement to produce COVID-19 vaccine ** Xeris Pharma XERS.O: down 36.9% BUZZ-Plunges on planned stock, convertible offerings ** DraftKings DKS.N: down 1.8% BUZZ-Falls as activist investor cuts stake ** Rite Aid RAD.N: up 26.1% BUZZ-Jumps as OTC medicines fuel revenue beat ** Anterix ATEX.O: down 0.7% BUZZ-Falls after leadership shuffle ** Beyond Meat BYND.O: down 4.3% BUZZ-Falls on report of McDonald's Canada having no plans to add burger to menu ** Stratus Properties STRS.O: up 11.0% BUZZ-Gains after higher revenue, cash position in Q1 ** Moderna MRNA.O: down 4.9% BUZZ-Drops after report says NIH claims joint ownership of COVID-19 vaccine candidate ** Aptevo Therapeutics APVO.O: up 68.0% BUZZ-Surges on royalty payment for biosimilar from Pfizer ** BlackBerry BB.N: down 1.5% BUZZ-Falls as Q1 revenue misses on virus hit ** World Wrestling Entertainment Inc WWE.N: down 1.8% BUZZ-Falls as 'multiple' wrestlers test positive for COVID-19 ** Ekso Bionics EKSO.O: up 159.4% BUZZ-Surges on FDA nod to sell robotic exoskeleton ** FactSet FDS.N: up 14.9% BUZZ-Gains on upbeat FY 2020 profit forecast The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes edged higher in choppy trading on Thursday, as gains in financial and energy shares helped recoup early losses due to an alarming rise in new coronavirus cases and elevated jobless claims. down 1.81% (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** National Oilwell Varco Inc , up 8.4% ** Accenture Plc , up 6.1% ** Ameriprise Financial , up 4.7% The top three S&P 500 .PL.INX percentage losers: ** Ross Stores , down 4.3% ** Kohl's Corp , down 3.9% ** Ulta Beauty Inc , down 3.7% The top three NYSE .PG.N percentage gainers: ** Rite Aid Corp , up 26.1% ** Farfetch Ltd FTCH.N, up 18.4% ** Earthstone Energy Inc , up 18.0% The top three NYSE .PL.N percentage losers: ** Kaleyra Inc Ord KLR.N, down 15.3% ** KB Home , down 11.3% ** AMC Entertainment Holdings Inc , down 13.9% The top three Nasdaq .PG.O percentage gainers: ** Ekso Bionics Holding , up 159.4% ** Aptevo Therapeutics , up 68% ** Puhui Wealth Investment Management Co , up 57% The top three Nasdaq .PL.O percentage losers: ** Xeris Pharmaceuticals , down 36.9% ** Uniqure NV , down 20.5% ** Magenta Therapeutics , down 19.5% ** Farfetch FTCH.N: up 18.4% BUZZ-Gains on upbeat Q2 forecast as more luxury buyers shop online ** Walt Disney Co DIS.N: down 2.0% BUZZ-Falls as co delays reopening of California Disneyland ** Boeing Co BA.N: down 2.5% BUZZ-Berenberg says Boeing to face MAX pressure until demand stabilizes, downgrades ** Magenta Therapeutics MGTA.O: down 19.5% BUZZ-Falls on $60 mln stock offering ** Pioneer Natural Resources Co PXD.N: up 4.1% BUZZ-SunTrust upgrades to 'buy', expects 2021 FCF to top Street estimates ** IZEA Worldwide Inc IZEA.O: up 7.5% BUZZ-Jumps on raised sales outlook ** McCormick & Company Inc MKC.N: up 2.6% BUZZ-Up as Q2 beats on rise in home cooking ** Darden Restaurants DRI.N: up 3.8% BUZZ-Rises on strong earnings forecast, improving weekly sales ** Accenture PLC ACN.N: up 6.1% BUZZ-Rises after Q3 results beat expectations ** American Airlines AAL.O: down 3.4% BUZZ-Falls as it prices $2.5 bln debt offer ** Translate Bio TBIO.O: down 10.6% BUZZ-Slides on planned share offer as Takeda looks to cash out ** NantKwest NK.O: down 8.6% BUZZ-Falls after pricing upsized equity offering; CEO buys shares ** Par Pacific PARR.N: down 1.9% BUZZ-Lack of shareholder returns keeps CS on sidelines ** Vaxart Inc VXRT.O: up 38.4% BUZZ-Jumps on agreement to produce COVID-19 vaccine ** Xeris Pharma XERS.O: down 36.9% BUZZ-Plunges on planned stock, convertible offerings ** DraftKings DKS.N: down 1.8% BUZZ-Falls as activist investor cuts stake ** Rite Aid RAD.N: up 26.1% BUZZ-Jumps as OTC medicines fuel revenue beat ** Anterix ATEX.O: down 0.7% BUZZ-Falls after leadership shuffle ** Beyond Meat BYND.O: down 4.3% BUZZ-Falls on report of McDonald's Canada having no plans to add burger to menu ** Stratus Properties STRS.O: up 11.0% BUZZ-Gains after higher revenue, cash position in Q1 ** Moderna MRNA.O: down 4.9% BUZZ-Drops after report says NIH claims joint ownership of COVID-19 vaccine candidate ** Aptevo Therapeutics APVO.O: up 68.0% BUZZ-Surges on royalty payment for biosimilar from Pfizer ** BlackBerry BB.N: down 1.5% BUZZ-Falls as Q1 revenue misses on virus hit ** World Wrestling Entertainment Inc WWE.N: down 1.8% BUZZ-Falls as 'multiple' wrestlers test positive for COVID-19 ** Ekso Bionics EKSO.O: up 159.4% BUZZ-Surges on FDA nod to sell robotic exoskeleton ** FactSet FDS.N: up 14.9% BUZZ-Gains on upbeat FY 2020 profit forecast The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes edged higher in choppy trading on Thursday, as gains in financial and energy shares helped recoup early losses due to an alarming rise in new coronavirus cases and elevated jobless claims. down 1.81% (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** National Oilwell Varco Inc , up 8.4% ** Accenture Plc , up 6.1% ** Ameriprise Financial , up 4.7% The top three S&P 500 .PL.INX percentage losers: ** Ross Stores , down 4.3% ** Kohl's Corp , down 3.9% ** Ulta Beauty Inc , down 3.7% The top three NYSE .PG.N percentage gainers: ** Rite Aid Corp , up 26.1% ** Farfetch Ltd FTCH.N, up 18.4% ** Earthstone Energy Inc , up 18.0% The top three NYSE .PL.N percentage losers: ** Kaleyra Inc Ord KLR.N, down 15.3% ** KB Home , down 11.3% ** AMC Entertainment Holdings Inc , down 13.9% The top three Nasdaq .PG.O percentage gainers: ** Ekso Bionics Holding , up 159.4% ** Aptevo Therapeutics , up 68% ** Puhui Wealth Investment Management Co , up 57% The top three Nasdaq .PL.O percentage losers: ** Xeris Pharmaceuticals , down 36.9% ** Uniqure NV , down 20.5% ** Magenta Therapeutics , down 19.5% ** Farfetch FTCH.N: up 18.4% BUZZ-Gains on upbeat Q2 forecast as more luxury buyers shop online ** Walt Disney Co DIS.N: down 2.0% BUZZ-Falls as co delays reopening of California Disneyland ** Boeing Co BA.N: down 2.5% BUZZ-Berenberg says Boeing to face MAX pressure until demand stabilizes, downgrades ** Magenta Therapeutics MGTA.O: down 19.5% BUZZ-Falls on $60 mln stock offering ** Pioneer Natural Resources Co PXD.N: up 4.1% BUZZ-SunTrust upgrades to 'buy', expects 2021 FCF to top Street estimates ** IZEA Worldwide Inc IZEA.O: up 7.5% BUZZ-Jumps on raised sales outlook ** McCormick & Company Inc MKC.N: up 2.6% BUZZ-Up as Q2 beats on rise in home cooking ** Darden Restaurants DRI.N: up 3.8% BUZZ-Rises on strong earnings forecast, improving weekly sales ** Accenture PLC ACN.N: up 6.1% BUZZ-Rises after Q3 results beat expectations ** American Airlines AAL.O: down 3.4% BUZZ-Falls as it prices $2.5 bln debt offer ** Translate Bio TBIO.O: down 10.6% BUZZ-Slides on planned share offer as Takeda looks to cash out ** NantKwest NK.O: down 8.6% BUZZ-Falls after pricing upsized equity offering; CEO buys shares ** Par Pacific PARR.N: down 1.9% BUZZ-Lack of shareholder returns keeps CS on sidelines ** Vaxart Inc VXRT.O: up 38.4% BUZZ-Jumps on agreement to produce COVID-19 vaccine ** Xeris Pharma XERS.O: down 36.9% BUZZ-Plunges on planned stock, convertible offerings ** DraftKings DKS.N: down 1.8% BUZZ-Falls as activist investor cuts stake ** Rite Aid RAD.N: up 26.1% BUZZ-Jumps as OTC medicines fuel revenue beat ** Anterix ATEX.O: down 0.7% BUZZ-Falls after leadership shuffle ** Beyond Meat BYND.O: down 4.3% BUZZ-Falls on report of McDonald's Canada having no plans to add burger to menu ** Stratus Properties STRS.O: up 11.0% BUZZ-Gains after higher revenue, cash position in Q1 ** Moderna MRNA.O: down 4.9% BUZZ-Drops after report says NIH claims joint ownership of COVID-19 vaccine candidate ** Aptevo Therapeutics APVO.O: up 68.0% BUZZ-Surges on royalty payment for biosimilar from Pfizer ** BlackBerry BB.N: down 1.5% BUZZ-Falls as Q1 revenue misses on virus hit ** World Wrestling Entertainment Inc WWE.N: down 1.8% BUZZ-Falls as 'multiple' wrestlers test positive for COVID-19 ** Ekso Bionics EKSO.O: up 159.4% BUZZ-Surges on FDA nod to sell robotic exoskeleton ** FactSet FDS.N: up 14.9% BUZZ-Gains on upbeat FY 2020 profit forecast The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes edged higher in choppy trading on Thursday, as gains in financial and energy shares helped recoup early losses due to an alarming rise in new coronavirus cases and elevated jobless claims. .N At 13:00 ET, the Dow Jones Industrial Average .DJI was up 0.17% at 25,489.1.
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The top three S&P 500 .PG.INX percentage gainers: ** National Oilwell Varco Inc , up 8.4% ** Accenture Plc , up 6.1% ** Ameriprise Financial , up 4.7% The top three S&P 500 .PL.INX percentage losers: ** Ross Stores , down 4.3% ** Kohl's Corp , down 3.9% ** Ulta Beauty Inc , down 3.7% The top three NYSE .PG.N percentage gainers: ** Rite Aid Corp , up 26.1% ** Farfetch Ltd FTCH.N, up 18.4% ** Earthstone Energy Inc , up 18.0% The top three NYSE .PL.N percentage losers: ** Kaleyra Inc Ord KLR.N, down 15.3% ** KB Home , down 11.3% ** AMC Entertainment Holdings Inc , down 13.9% The top three Nasdaq .PG.O percentage gainers: ** Ekso Bionics Holding , up 159.4% ** Aptevo Therapeutics , up 68% ** Puhui Wealth Investment Management Co , up 57% The top three Nasdaq .PL.O percentage losers: ** Xeris Pharmaceuticals , down 36.9% ** Uniqure NV , down 20.5% ** Magenta Therapeutics , down 19.5% ** Farfetch FTCH.N: up 18.4% BUZZ-Gains on upbeat Q2 forecast as more luxury buyers shop online ** Walt Disney Co DIS.N: down 2.0% BUZZ-Falls as co delays reopening of California Disneyland ** Boeing Co BA.N: down 2.5% BUZZ-Berenberg says Boeing to face MAX pressure until demand stabilizes, downgrades ** Magenta Therapeutics MGTA.O: down 19.5% BUZZ-Falls on $60 mln stock offering ** Pioneer Natural Resources Co PXD.N: up 4.1% BUZZ-SunTrust upgrades to 'buy', expects 2021 FCF to top Street estimates ** IZEA Worldwide Inc IZEA.O: up 7.5% BUZZ-Jumps on raised sales outlook ** McCormick & Company Inc MKC.N: up 2.6% BUZZ-Up as Q2 beats on rise in home cooking ** Darden Restaurants DRI.N: up 3.8% BUZZ-Rises on strong earnings forecast, improving weekly sales ** Accenture PLC ACN.N: up 6.1% BUZZ-Rises after Q3 results beat expectations ** American Airlines AAL.O: down 3.4% BUZZ-Falls as it prices $2.5 bln debt offer ** Translate Bio TBIO.O: down 10.6% BUZZ-Slides on planned share offer as Takeda looks to cash out ** NantKwest NK.O: down 8.6% BUZZ-Falls after pricing upsized equity offering; CEO buys shares ** Par Pacific PARR.N: down 1.9% BUZZ-Lack of shareholder returns keeps CS on sidelines ** Vaxart Inc VXRT.O: up 38.4% BUZZ-Jumps on agreement to produce COVID-19 vaccine ** Xeris Pharma XERS.O: down 36.9% BUZZ-Plunges on planned stock, convertible offerings ** DraftKings DKS.N: down 1.8% BUZZ-Falls as activist investor cuts stake ** Rite Aid RAD.N: up 26.1% BUZZ-Jumps as OTC medicines fuel revenue beat ** Anterix ATEX.O: down 0.7% BUZZ-Falls after leadership shuffle ** Beyond Meat BYND.O: down 4.3% BUZZ-Falls on report of McDonald's Canada having no plans to add burger to menu ** Stratus Properties STRS.O: up 11.0% BUZZ-Gains after higher revenue, cash position in Q1 ** Moderna MRNA.O: down 4.9% BUZZ-Drops after report says NIH claims joint ownership of COVID-19 vaccine candidate ** Aptevo Therapeutics APVO.O: up 68.0% BUZZ-Surges on royalty payment for biosimilar from Pfizer ** BlackBerry BB.N: down 1.5% BUZZ-Falls as Q1 revenue misses on virus hit ** World Wrestling Entertainment Inc WWE.N: down 1.8% BUZZ-Falls as 'multiple' wrestlers test positive for COVID-19 ** Ekso Bionics EKSO.O: up 159.4% BUZZ-Surges on FDA nod to sell robotic exoskeleton ** FactSet FDS.N: up 14.9% BUZZ-Gains on upbeat FY 2020 profit forecast The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes edged higher in choppy trading on Thursday, as gains in financial and energy shares helped recoup early losses due to an alarming rise in new coronavirus cases and elevated jobless claims. .N At 13:00 ET, the Dow Jones Industrial Average .DJI was up 0.17% at 25,489.1.
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0aa32eba-0ac6-4f24-bc91-8372ce77f821
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5620.0
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2020-06-25 00:00:00 UTC
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Major U.S. airline CEOs to hold White House meeting Friday -- sources
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AAL
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https://www.nasdaq.com/articles/major-u.s.-airline-ceos-to-hold-white-house-meeting-friday-sources-2020-06-25
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nan
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nan
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WASHINGTON, June 25 (Reuters) - The chief executives of major U.S. airlines are set to hold a meeting Friday to discuss a range of coronavirus-travel issues, three people briefed on the matter said.
The meeting with Vice President Mike Pence and other senior U.S. officials is expected to include the CEOs of American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N, United Airlines UAL.O and JetBlue Airways Corp JBLU.O, the sources said.
The discussions will revolve around potential extended European Union travel restrictions on U.S. travelers, possible temperature checks at U.S. airports, contract tracing of airline passengers and the impact of COVID-19 on travel demand, among other issues, the sources said.
(Reporting by David Shepardson and Tracy Rucinski Editing by Shri Navaratnam)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The meeting with Vice President Mike Pence and other senior U.S. officials is expected to include the CEOs of American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N, United Airlines UAL.O and JetBlue Airways Corp JBLU.O, the sources said. WASHINGTON, June 25 (Reuters) - The chief executives of major U.S. airlines are set to hold a meeting Friday to discuss a range of coronavirus-travel issues, three people briefed on the matter said. (Reporting by David Shepardson and Tracy Rucinski Editing by Shri Navaratnam) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The meeting with Vice President Mike Pence and other senior U.S. officials is expected to include the CEOs of American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N, United Airlines UAL.O and JetBlue Airways Corp JBLU.O, the sources said. The discussions will revolve around potential extended European Union travel restrictions on U.S. travelers, possible temperature checks at U.S. airports, contract tracing of airline passengers and the impact of COVID-19 on travel demand, among other issues, the sources said. (Reporting by David Shepardson and Tracy Rucinski Editing by Shri Navaratnam) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The meeting with Vice President Mike Pence and other senior U.S. officials is expected to include the CEOs of American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N, United Airlines UAL.O and JetBlue Airways Corp JBLU.O, the sources said. The discussions will revolve around potential extended European Union travel restrictions on U.S. travelers, possible temperature checks at U.S. airports, contract tracing of airline passengers and the impact of COVID-19 on travel demand, among other issues, the sources said. (Reporting by David Shepardson and Tracy Rucinski Editing by Shri Navaratnam) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The meeting with Vice President Mike Pence and other senior U.S. officials is expected to include the CEOs of American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N, United Airlines UAL.O and JetBlue Airways Corp JBLU.O, the sources said. WASHINGTON, June 25 (Reuters) - The chief executives of major U.S. airlines are set to hold a meeting Friday to discuss a range of coronavirus-travel issues, three people briefed on the matter said. The discussions will revolve around potential extended European Union travel restrictions on U.S. travelers, possible temperature checks at U.S. airports, contract tracing of airline passengers and the impact of COVID-19 on travel demand, among other issues, the sources said.
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364f1d84-cffc-4675-a7e2-62775d84c109
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5621.0
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2020-06-24 00:00:00 UTC
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S&P 500 Can’t Fight A Stock Selloff as Coronavirus Cases Rise
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AAL
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https://www.nasdaq.com/articles/sp-500-cant-fight-a-stock-selloff-as-coronavirus-cases-rise-2020-06-24
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nan
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nan
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The S&P 500 has given up roughly 2.78% so far today as news of increasing coronavirus cases across certain U.S. states is increasing unease. Specifically, California, Texas and Arizona all reported records for daily infections Tuesday.
Not surprisingly, some of the hardest hit names on the market today are airlines and brick and mortar retailers. American Airlines (NASDAQ: AAL) is down over 5.9%, while Kohl's (NYSE: KSS) is down around 5.5%. The ramifications of increased COVID-19 cases span across all sectors and could threaten the market's attempt to rally over the last month. An area of big concern is Florida, where cases have risen rapidly in conjunction with the states reopening. Tuesday saw more than 3,000 more cases added. With its large theme park in the state, Disney (NYSE: DIS) shares are down over 5% in response to the news.
Image Source: Getty Images
Where this will lead the market through the rest of the week is difficult to say. New York, New Jersey, and Connecticut are all reacting quickly to the rising caseloads in other states by implementing quarantine requirements for travelers that are coming from those hot spots. Clearly investors are seeing this as a concern that the country could fall back into the economically sensitive state it was in only a few months ago. How much of this will actually come to fruition is very tough to call.
Looking ahead
Online companies like Zoom Communications (NASDAQ: ZM) may enjoy continued enthusiasm from investors at the prospect of ever more digital meetings. Industries that could face even more pressure include airlines and restaurants. The desire and ability of consumers to travel is being threatened yet again. Stocks related to gambling, particularly sports betting, are also having a tough day as fears rise of canceled sporting events, such as the NFL's fall season. Investors are being cautious when it comes to coronavirus news. There are few areas of the market and economy, if any, that won't face pressure if COVID-19 begins to wreak havoc on the economy again.
10 stocks we like better than Walmart
When investing geniuses David and Tom Gardner have an investing 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Walmart 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 2/1/20
David Butler has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Walt Disney and Zoom Video Communications and recommends the following options: long January 2021 $60 calls on Walt Disney, short July 2020 $115 calls on Walt Disney, and short August 2020 $130 calls on Zoom Video Communications. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines (NASDAQ: AAL) is down over 5.9%, while Kohl's (NYSE: KSS) is down around 5.5%. The ramifications of increased COVID-19 cases span across all sectors and could threaten the market's attempt to rally over the last month. New York, New Jersey, and Connecticut are all reacting quickly to the rising caseloads in other states by implementing quarantine requirements for travelers that are coming from those hot spots.
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American Airlines (NASDAQ: AAL) is down over 5.9%, while Kohl's (NYSE: KSS) is down around 5.5%. The S&P 500 has given up roughly 2.78% so far today as news of increasing coronavirus cases across certain U.S. states is increasing unease. With its large theme park in the state, Disney (NYSE: DIS) shares are down over 5% in response to the news.
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American Airlines (NASDAQ: AAL) is down over 5.9%, while Kohl's (NYSE: KSS) is down around 5.5%. The S&P 500 has given up roughly 2.78% so far today as news of increasing coronavirus cases across certain U.S. states is increasing unease. See the 10 stocks Stock Advisor returns as of 2/1/20 David Butler has no position in any of the stocks mentioned.
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American Airlines (NASDAQ: AAL) is down over 5.9%, while Kohl's (NYSE: KSS) is down around 5.5%. With its large theme park in the state, Disney (NYSE: DIS) shares are down over 5% in response to the news. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Walmart wasn't one of them!
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dbf06ddd-cb17-4dca-af45-247172c9f241
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5622.0
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2020-06-24 00:00:00 UTC
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Why Airline Shares Are Falling Today
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AAL
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https://www.nasdaq.com/articles/why-airline-shares-are-falling-today-2020-06-24
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nan
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nan
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What happened
Airline shares are under pressure on Wednesday, caught in a broader market move downward due to growing fears that a surge in new COVID-19 cases will force another round of shutdowns.
Shares of Spirit Airlines (NYSE: SAVE) were down 11% as of noon EDT, while shares of United Airlines Holdings (NASDAQ: UAL), Delta Air Lines (NYSE: DAL), and JetBlue Airways (NASDAQ: JBLU) were down 8% apiece. Shares of other carriers including American Airlines Group (NASDAQ: AAL), Southwest Airlines (NYSE: LUV), Hawaiian Holdings (NASDAQ: HA), Alaska Air Group (NYSE: ALK), and Allegiant Travel (NASDAQ: ALGT) were all down 5% or more.
So what
Airline balance sheets have been devastated by the pandemic, which has caused travel demand to evaporate and starved the industry of revenue. The shares have regained some of their altitude in recent weeks on growing hopes that the worst of the pandemic is now behind us, but that optimism is seemingly diminishing by the day.
Image source: Getty Images.
Popular tourism destinations including California, Texas, Florida, and Arizona are seeing spikes in new cases, and some cities are considering reversing plans to reopen and instead putting new restrictions in place. That would threaten the nascent recovery, and in the worst case send demand back to March and April lows. Airlines saw daily business down 90% or more year over year in those months.
Among the reports weighing on investor sentiment on Tuesday was a decision by the governors of New York, Connecticut, and New Jersey to impose travel restrictions on visitors from Florida and other high-infection states. Also, workers at Disney parks in Florida are reportedly petitioning to delay reopening due to the surge in new cases. Those headlines are all bearish for travel demand.
Now what
The good news, if there is good news, is the airlines are not going to be caught flat-footed by a second wave. The industry has raised nearly $40 billion in private debt and equity capital in addition to up to $50 billion in government assistance. Just this week, both American and United have raised billions in additional liquidity.
The goal for the airlines is to have enough cash in the bank to outlast the pandemic and its economic ramifications, no matter how long it takes. The industry has cut flights and is likely to start shedding workers this fall if demand does not return. But no airline can survive indefinitely without revenue coming in.
For investors who believe that the worst-case scenarios will not materialize and there will be a gradual recovery, the stocks -- trading at less than 0.5 times normalized revenue -- are inexpensive. But given the risk and the uncertainty, it's best to focus on the top operators in the industry, which have the wherewithal to outlast their rivals if there is a prolonged downturn.
10 stocks we like better than JetBlue Airways
When investing geniuses David and Tom Gardner have 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.*
David and Tom 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 June 2, 2020
Lou Whiteman owns shares of Delta Air Lines, Spirit Airlines, and Walt Disney. The Motley Fool owns shares of and recommends Spirit Airlines and Walt Disney. The Motley Fool recommends Alaska Air Group, Delta Air Lines, Hawaiian Holdings, JetBlue Airways, and Southwest Airlines and recommends the following options: long January 2021 $60 calls on Walt Disney and short July 2020 $115 calls on Walt Disney. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of other carriers including American Airlines Group (NASDAQ: AAL), Southwest Airlines (NYSE: LUV), Hawaiian Holdings (NASDAQ: HA), Alaska Air Group (NYSE: ALK), and Allegiant Travel (NASDAQ: ALGT) were all down 5% or more. What happened Airline shares are under pressure on Wednesday, caught in a broader market move downward due to growing fears that a surge in new COVID-19 cases will force another round of shutdowns. Popular tourism destinations including California, Texas, Florida, and Arizona are seeing spikes in new cases, and some cities are considering reversing plans to reopen and instead putting new restrictions in place.
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Shares of other carriers including American Airlines Group (NASDAQ: AAL), Southwest Airlines (NYSE: LUV), Hawaiian Holdings (NASDAQ: HA), Alaska Air Group (NYSE: ALK), and Allegiant Travel (NASDAQ: ALGT) were all down 5% or more. Shares of Spirit Airlines (NYSE: SAVE) were down 11% as of noon EDT, while shares of United Airlines Holdings (NASDAQ: UAL), Delta Air Lines (NYSE: DAL), and JetBlue Airways (NASDAQ: JBLU) were down 8% apiece. The Motley Fool recommends Alaska Air Group, Delta Air Lines, Hawaiian Holdings, JetBlue Airways, and Southwest Airlines and recommends the following options: long January 2021 $60 calls on Walt Disney and short July 2020 $115 calls on Walt Disney.
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Shares of other carriers including American Airlines Group (NASDAQ: AAL), Southwest Airlines (NYSE: LUV), Hawaiian Holdings (NASDAQ: HA), Alaska Air Group (NYSE: ALK), and Allegiant Travel (NASDAQ: ALGT) were all down 5% or more. Shares of Spirit Airlines (NYSE: SAVE) were down 11% as of noon EDT, while shares of United Airlines Holdings (NASDAQ: UAL), Delta Air Lines (NYSE: DAL), and JetBlue Airways (NASDAQ: JBLU) were down 8% apiece. The Motley Fool recommends Alaska Air Group, Delta Air Lines, Hawaiian Holdings, JetBlue Airways, and Southwest Airlines and recommends the following options: long January 2021 $60 calls on Walt Disney and short July 2020 $115 calls on Walt Disney.
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Shares of other carriers including American Airlines Group (NASDAQ: AAL), Southwest Airlines (NYSE: LUV), Hawaiian Holdings (NASDAQ: HA), Alaska Air Group (NYSE: ALK), and Allegiant Travel (NASDAQ: ALGT) were all down 5% or more. So what Airline balance sheets have been devastated by the pandemic, which has caused travel demand to evaporate and starved the industry of revenue. Also, workers at Disney parks in Florida are reportedly petitioning to delay reopening due to the surge in new cases.
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1b0a99d2-8192-4468-a119-c1dbb9ef369c
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5623.0
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2020-06-24 00:00:00 UTC
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How COVID Has Affected Travel
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AAL
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https://www.nasdaq.com/articles/how-covid-has-affected-travel-2020-06-24
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nan
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nan
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In this episode of Market Foolery, Chris Hill chats with Motley Fool contributor Dan Kline about the latest news from Wall Street. They've got the latest headlines from the airlines and the travel industry, an iconic brand is up for grabs for anyone with deep pockets, and much more.
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 Walmart
When investing geniuses David and Tom Gardner have an investing 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Walmart 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 2/1/20
This video was recorded on June 22, 2020.
Chris Hill: It's Monday, June 22. Welcome to Market Foolery. I'm Chris Hill. With me today: our man in Florida, it's Dan Kline. Good to see you.
Dan Kline: Nice to see you, Chris.
Hill: Belated Happy Father's Day!
Kline: Thank you. Did you do anything exciting yesterday?
Hill: I grilled some meat, because it's Father's Day, you know, anyone with a grill should be able to grill whatever they want on their day.
Kline: I went to Texas de Brazil, so similar theme, except I didn't have to cook.
Hill: [laughs] We've got a wonderful buying opportunity for anyone out there who wants to own an iconic brand, but we're going to start today with the airlines.
Both United and American Airlines are in the news because both of them are looking to raise a lot of money. American Airlines is reportedly going to be raising up to $3.5 billion, and United is going to be raising up to $5 billion. How bad is it out there for the airlines? Because when I look at this -- and look, I know these are huge businesses, but this is probably not what you want to see if you're looking to own shares of these companies.
Kline: Yeah, this is bad news. So the estimates are, they're losing $45 million a day. And you know, everyone's acting like we're back to business as usual. The reality is, we're back to some flights at limited capacity, and you probably didn't pay that much to be on [laughs] those flights. So airlines are in real trouble until there is a cure or some method of keeping you safe on planes. If they make every seat some sort of individual plexiglass pod, I guess [laughs] maybe that could work, but I'm not even sure how that would work with loading and offloading -- at best you're looking at two-thirds capacity and most routes are going to have lower pricing.
I know I've booked some flights; I don't know if I'll take them, but I've booked some flights and the pricing was very, very low. So this is a lot of pain. And starting at the end of September, they can lay some people off. They're trying with buyouts and other offers to reduce their workforce, but these are companies that are not going to be back to normal for maybe years. And I point out, I'm a travel optimist.
Hill: [laughs] Yeah, I was going to say, you're one of the more optimistic people I've heard talking about the travel industry in general, whether we're talking about people getting back to casinos or the airlines or the cruise lines. I saw a clip this morning, an interview, that's going to be running tonight on HBO. Ed Bastian, who's the CEO of Delta Airlines, talking about masks on their planes, and basically saying, "Look, we're not going to remove people from the plane if they take their mask off." And it's a tough spot that they're in, because -- particularly, when you think about longer flights, it's not hard to imagine for, sort of, the shorter trips where the flying time is maybe an hour, and so part of the safety procedures involved, we're not going to be doing drinks and snacks. Everyone needs to stay seated, keep their masks on.
When you start thinking, Dan, about cross-country flights, then you get into an area where it's, like, "Well, wait a minute. If I'm going to be on a plane for five or six [laughs] hours, I'm probably going to want to use the facilities at some point, I'm probably going to want to eat something or drink something." So they're in a really tough spot.
Kline: They're not stopping people from bringing their own drinks on board, but there are some things they could do. Instead of doing drink service all in order, they could do every other row. So you finish your drink before I got mine, and my mask goes back on. The problem with this is, is that, at least here in Florida, people have not shown a willingness to wear masks. The restaurant I ate at last night, the restaurant did everything really well, and you were supposed to be wearing a mask until they served you food or beverage. And I would say it was 50/50 whether people did that. And honestly, it was a tiny bit uncomfortable. I'm not sure I want to be on a plane and a person behind me is blatantly not wearing a mask, and I don't mean they're taking their mask off carefully to have a cup of coffee and then they're putting it back on.
I get it that masks aren't super comfortable. I've ordered about 10 different masks to try to find the most comfortable one. I know my son has been wearing the neck gaiter, and that's really comfortable, because he's got a small neck. It doesn't work as well for me. Look, you can find a mask that's comfortable, you could wear a face shield if you want, there's all sorts of options out there. And I think right now, the airline should be enforcing this, they should be -- even the perception of it is important. They've changed their filters. They're doing lots of things to keep you safe.
I don't believe flying on a plane, if people are wearing masks and there's reasonable precautions, is that dangerous. On the other hand, if people are completely ignoring the rules and they're walking to the bathroom while drinking a soda and sneezing without wearing a mask, that does seem to increase my danger. And, look, I get the politics of it, why the airlines don't want to make hard-and-fast rules, but I think as a society, maybe we should make some hard-and-fast rules about being nice to each other.
Hill: Last thing on the airlines. There are a chunk of investors out there who look at the airlines, particularly, with their stocks knocked down to the extent that they have been, and they think to themselves, well, look, they're going to survive, they're going to get through this, this is a necessity in our society, so why not take a shot with one of these stocks, why not buy a few shares because it's a value play right now? Do you look at the airline stocks as value plays?
Kline: No, it's a value trap. It's a danger. There should be red lights and crocodiles jumping up, and whatever could scare you away, because airlines could go bankrupt. That doesn't mean they're going to go out of business, Chris. We've talked about this with cruise lines. The banks don't particularly want to own cruise ships and they don't want to own airplanes. These routes need to be flown, so what could happen -- and they're taking steps for that not to happen -- but if this goes on for an extra long period of time, they'll file Chapter 11, they'll get out of some of their debt, the same people will be in-charge, some executives will get bonuses and shareholders will get wiped out. That is how it goes. So if you invest in an airline, you're making the bet, this will recover over the long term without there being a bankruptcy in the interim. I might make that bet on Southwest; I am not making that bet on any other airline.
Hill: Second quarter earnings for TripAdvisor (NASDAQ: TRIP) are scheduled for early August, but we got indications today that it is not going to be pretty. TripAdvisor said it expects revenue for June to be one-fifth of what it was a year ago. And, Dan, TripAdvisor is also quick to point out, "We've got the money to cover our debt obligations for the rest of this year and all through 2021," but that seems like the financial equivalent of damning with faint praise.
Kline: Yeah, that's not great. That's like you go into a meeting with your boss and he looks really upset and he says, well, we're not going to fire you. It's like, "OK, I'm not getting fired, but something is not good here." And travel has rocketed back to 20% of previous volumes; that's not great. And nobody is taking discretionary vacations to -- I mean, there are places you can go, because camping is up, there are some things people will do -- but the amount of people flying to Orlando to go to Disney World, which hasn't even released its official method of reserving days at the park yet, that doesn't happen till June 22, for people that have a resort reservation. Nobody is doing that. Someone like me might fly to Vegas for a few days and carefully gamble. Your average group of buddies that was going to go to Vegas is not going to do that when the city is half shut down. That's true of most destinations.
Chris, let's say, you and I, we're going to have a meeting with, you know, a potential sponsor. We might have flown to do that in person, there's no way we're doing that in person right now, especially if it's someone in New York or Los Angeles or a big city. So there's just going to be less demand for a long time. Do I believe that demand will never come back? I do not. I believe that we will forget about this. This will become the blizzard of '78, a fond memory, as weird as that sounds, that we all tell war stories about 10 years from now. But for the next however long, no, things are going to be really ugly for the travel business.
Hill: They are. And you think about a business like TripAdvisor, which has really stumbled over the last five years. I mean, it's been a pretty steady decline for the stock and for the business. A year ago, this stock was in the mid-$40; today it's at $17/share, so it's a little more than a $2 billion company. I'm wondering if you look at TripAdvisor and think that there is enough there in terms of data, in terms of users, that someone might consider an acquisition. Last week on the show we were talking about Groupon, and for all of the struggles that Groupon has, it still has about 42 million active customers. So there is a price at which someone would be willing to pay for that customer information, and I'm wondering if you see the same thing with TripAdvisor.
Kline: So TripAdvisor would make sense at Booking, it would just fit nicely into their portfolio, or maybe they just close it [laughs] and rotate people into the services they have. It would work at Expedia, it would also work well at a Microsoft or a Google [Alphabet]. It would not be a terrible venue for almost anyone to own if the price keeps coming down. Doesn't make a ton of sense as a stand-alone company, it's the smallest fish in a very big pond. But, yeah, absolutely, I think they are an acquisition target, which usually means they're not, by the way. My history on this has been very, very bad with forecasting acquisitions.
Hill: No, but you have to figure, particularly for some of the companies that you mentioned, and you know, Booking, given the challenges that they're facing, they're probably not looking at acquisitions as actively as people at Microsoft and Alphabet. There have to be people [laughs] in Microsoft and Alphabet who, given the strength of those businesses, are maybe even more focused on tuck-in acquisitions than they were at the beginning of the year.
Kline: Yeah, Microsoft tends to buy things that don't automatically fit its portfolio. LinkedIn and Skype would be two big examples of that. This would be a value-add. That said, Microsoft does not have a great history of buying things and extracting added value. In fact, [laughs] they generally do the opposite.
But I would think any of the cash-rich tech companies; would it be shocking if Amazon is kicking the tires here? I don't think it would be. Offering travel services ties into so many other things you can do, and think of all the data Amazon has related to travel and travel products. So this would work really well at pretty much any tech company.
Hill: Apollo Global Management is the private equity firm that owns Chuck E. Cheese, and if you've got cash burning a hole in your pocket, they want to hear from you. The Wall Street Journal is reporting that Apollo is currently fielding offers from potential buyers. This story reads like Apollo is being pretty straightforward. Obviously, anytime you're fielding offers, you want to get more offers. But it seems like there's enough smoke here that there may actually be some fire. Although, Dan, I can't get away from the question: Who wants to buy Chuck E. Cheese and why? Like, is it to keep the Chuck E. Cheese brand or is it just a real estate and restaurant play?
Kline: In my opinion, someone like roughly our age that fondly remembers Chuck E. Cheese for, like, a post-, you know, hockey team breakup party or a birthday party or something, that doesn't recognize that Chuck E. Cheese in 1985 is pretty much Chuck E. Cheese now, except there is a lot better competition out there. I could make an argument for Dave & Buster's (NASDAQ: PLAY) working. You could argue that if they made their food better, that they could do enough business on the weekends and during sporting events, that if they could be seen as a restaurant at the mall the rest of the time, they might be profitable.
Chuck E. Cheese has to revamp everything. Its food is terrible. Its games are old. Nobody wants their kids climbing around the hamster thing now. Right now, in this pandemic, there is no way to sanitize a ball pit that -- there wasn't before, folks, [laughs] I'll tell you, those weren't the cleanest places on earth. This feels to me like a nostalgia play.
And maybe owning the Chuck E. Cheese brand would have some value, and maybe you could incorporate it into something else, but as stand-alone restaurants, who as a parent, my kid would want to go to Chuck E. Cheese. And if they had awesome food, maybe he could have talked me into it. If they had some stuff I wanted to do. Chuck E. Cheese was like a last-day, rainy-day, absolutely there's-nothing-else-to-do option. There's going to need to be a lot of money invested here to make this anything at all.
Hill: It really is going to be interesting to see how this plays out for a couple of reasons. One, there are different versions of this, because it's private equity, in terms of what they could do with the debt. Obviously, one possibility is someone just swoops in and buys it all themselves. There could be partnerships involved here.
But you mentioned Dave & Buster's. Shares of Dave & Buster's are down 10% today. I have to believe a little bit of that drop is the prospect of what's playing out with Chuck E. Cheese, a private company. The ripple effect of it moving over into Dave & Buster's. Because Dave & Buster's, think about the way -- you know, let's go back to January of this year, prepandemic. Dave & Buster's is a stock that really hadn't moved. I mean, it would move up and down, but it was basically in the same spot in January of this year that it was four, five years ago. And that's at a time when the economy in America is doing very well, when wages are going up. You know, this is a discretionary-income business. Dave & Buster's doesn't need to exist in the same way that airlines need to exist.
So like you, I just sort of ... I get a little, you know, twitchy when someone mentions [laughs] Chuck E. Cheese, just for the few times I've been there. But I'm really curious to see how this plays out.
Kline: Dave & Buster's benefits from Chuck E. Cheese going out of business. There's a certain amount of birthday parties that trickles to Dave & Buster's, which would be a better fit at Chuck E. Cheese but also works at Dave & Buster's. But you could argue that Dave & Buster's, in a nonpandemic world, is a very affordable indulgence. It's a, "Hey, we're not going on vacation, but on school vacation, we'll take the kids to Dave & Buster's." It's not a big leap to say they could revamp their menu to make their food a draw on its own right. And it also seems like they're coming into a time where malls are going to be really, really willing to negotiate for any business that eats up space and draws in traffic, which Dave & Buster's theoretically does.
Chuck E. Cheese, that's a tough argument. You're lugging your five-year-old to Chuck E. Cheese, you're probably not walking around the mall after buying a bunch of stuff. You're going out with your friends to watch a football game at Dave & Buster's, you know, the one near us in -- was it Arundel Mills? Not too far from the office, but 40 minutes from the office. After that Dave & Buster's, maybe wandering over to the casino, maybe I'm wandering around the mall. There's more of an argument for Dave & Buster's than there is for a very dated brand in Chuck E. Cheese.
Hill: Dan Kline, always good talking to you. Thanks for being here.
Kline: Thanks for having me.
Hill: As always, people on the program may have interests 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.
That's going to do it for this edition of Market Foolery. The show is mixed by Dan Boyd. I'm Chris Hill. Thanks for listening. We'll see you tomorrow.
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool's board of directors. Chris Hill owns shares of Amazon. Daniel B. Kline owns shares of Microsoft. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Amazon, Booking Holdings, Microsoft, and TripAdvisor. The Motley Fool recommends Dave & Buster's Entertainment, Delta Air Lines, and Southwest Airlines and recommends the following options: long January 2021 $85 calls on Microsoft, short January 2021 $115 calls on Microsoft, short January 2022 $1940 calls on Amazon, and long January 2022 $1920 calls on Amazon. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In this episode of Market Foolery, Chris Hill chats with Motley Fool contributor Dan Kline about the latest news from Wall Street. And it's a tough spot that they're in, because -- particularly, when you think about longer flights, it's not hard to imagine for, sort of, the shorter trips where the flying time is maybe an hour, and so part of the safety procedures involved, we're not going to be doing drinks and snacks. Hill: Apollo Global Management is the private equity firm that owns Chuck E. Cheese, and if you've got cash burning a hole in your pocket, they want to hear from you.
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In this episode of Market Foolery, Chris Hill chats with Motley Fool contributor Dan Kline about the latest news from Wall Street. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Amazon, Booking Holdings, Microsoft, and TripAdvisor. The Motley Fool recommends Dave & Buster's Entertainment, Delta Air Lines, and Southwest Airlines and recommends the following options: long January 2021 $85 calls on Microsoft, short January 2021 $115 calls on Microsoft, short January 2022 $1940 calls on Amazon, and long January 2022 $1920 calls on Amazon.
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Hill: [laughs] Yeah, I was going to say, you're one of the more optimistic people I've heard talking about the travel industry in general, whether we're talking about people getting back to casinos or the airlines or the cruise lines. Kline: In my opinion, someone like roughly our age that fondly remembers Chuck E. Cheese for, like, a post-, you know, hockey team breakup party or a birthday party or something, that doesn't recognize that Chuck E. Cheese in 1985 is pretty much Chuck E. Cheese now, except there is a lot better competition out there. The Motley Fool recommends Dave & Buster's Entertainment, Delta Air Lines, and Southwest Airlines and recommends the following options: long January 2021 $85 calls on Microsoft, short January 2021 $115 calls on Microsoft, short January 2022 $1940 calls on Amazon, and long January 2022 $1920 calls on Amazon.
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Hill: Last thing on the airlines. I could make an argument for Dave & Buster's (NASDAQ: PLAY) working. Hill: Dan Kline, always good talking to you.
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69876576-da39-4ddc-aaaf-a6843269119d
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5624.0
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2020-06-24 00:00:00 UTC
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American Airlines Stock Slumps as Investors Get a Dose of Reality
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AAL
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https://www.nasdaq.com/articles/american-airlines-stock-slumps-as-investors-get-a-dose-of-reality-2020-06-24
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nan
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nan
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American Airlines (NASDAQ: AAL) was a huge beneficiary of the "dash for trash" that began about a month ago. Speculators snapped up American Airlines stock along with other stocks that had been crushed by the COVID-19 pandemic, with no regard for business fundamentals or the companies' recovery prospects.
The surge in speculation has tangibly helped American Airlines: Increased interest in the stock enabled the company to bolster its balance sheet with an equity and convertible debt offering this week. That said, sentiment alone can't fix what's wrong with the full-service airline right now. Investors are starting to realize just how challenging a turnaround will be, causing the bubble in American Airlines stock to deflate.
American Airlines Year-to-Date Stock Performance, data by YCharts.
Indeed, while raising equity and convertible debt was the right move, it will significantly dilute existing shareholders. Meanwhile, American Airlines' balance sheet will remain weak, driving up financing costs and limiting the company's future flexibility.
Shareholder dilution begins
In recent months, American Airlines has borrowed money to fund near-term cash burn. However, while this tactic worked in the short term, American Airlines entered 2020 with the worst balance sheet of any U.S. airline. As a result, it is already running low on collateral to support future debt issuances but still has significantly less liquidity than peers.
Considering that the number of confirmed COVID-19 cases has started rising again in many parts of the U.S., airlines can't count on a rapid recovery in air travel demand. That made it important to capitalize on the rebound in American Airlines' stock price to raise cash in a way that doesn't require collateral.
On Tuesday morning, American Airlines confirmed that it had priced an offering of 74.1 million shares at $13.50 per share. It also sold $1 billion of convertible notes due in 2025. The notes carry a 6.5% interest rate and can be converted to stock for approximately $16.20/share. The underwriters for the stock and convertible debt offerings have options to purchase an additional 15% of the offering amount to cover potential overallotments.
Image source: American Airlines.
Assuming full exercise of those overallotment options and conversion of the convertible debt, the company would end up issuing approximately 156.2 million shares of American Airlines stock. For comparison, the company had about 423 million shares outstanding as of the end of March. Thus, American Airlines shareholders could have their interests in the company diluted by up to 27%.
The balance sheet is still terrible
This dilution means that even if American's financial results fully recover over the next few years, earnings per share would remain well below previous levels. Yet that pain will buy only modest balance-sheet relief.
Even accounting for recent improvements in American Airlines' daily cash burn, the airline is on pace to burn through about $6 billion in the second quarter. A little over $2 billion will be covered by the grant portion of American's CARES Act payroll support funds, but that still leaves $4 billion of "true" cash burn. Assuming the underwriters exercise all of their overallotment options, American Airlines will net just over $2.2 billion from the stock and convertible debt offerings after fees, covering barely more than half of this amount.
Entering 2020, American Airlines had $29.6 billion of debt and lease liabilities, net of unrestricted cash and investments. By year-end, that figure will likely exceed $35 billion. Digging out of this hole may well be impossible, depending on how quickly air travel demand recovers from the pandemic.
The cost of a weak balance sheet
Over the past five years, American Airlines has returned a massive amount of cash to shareholders while also spending heavily on capex. Management's willingness to operate with a weak balance sheet enabled the company to avoid choosing between investing in the business and rewarding shareholders.
American Airlines shareholders are paying the price now. Aside from the dilution discussed above, rising debt service costs will erode profits in the years ahead. The convertible debt alone will add $65 million of annual interest expense ($75 million if all overallotment options are exercised). American is also preparing to issue $2 billion of secured debt at double-digit yields, according to Bloomberg.
Fortunately for holders of American Airlines stock, most of the company's new borrowings this year will be low-interest government loans. Even so, annual interest expense is set to rise by hundreds of millions of dollars this year. Interest expense could continue rising in the years ahead if American has to pay significantly higher interest rates to refinance its debt maturities.
In short, American Airlines' weak balance sheet is creating even more barriers to an earnings recovery. As such, investors would be wise to steer clear of American Airlines stock.
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Adam Levine-Weinberg has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines (NASDAQ: AAL) was a huge beneficiary of the "dash for trash" that began about a month ago. The surge in speculation has tangibly helped American Airlines: Increased interest in the stock enabled the company to bolster its balance sheet with an equity and convertible debt offering this week. Assuming full exercise of those overallotment options and conversion of the convertible debt, the company would end up issuing approximately 156.2 million shares of American Airlines stock.
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American Airlines (NASDAQ: AAL) was a huge beneficiary of the "dash for trash" that began about a month ago. The surge in speculation has tangibly helped American Airlines: Increased interest in the stock enabled the company to bolster its balance sheet with an equity and convertible debt offering this week. Assuming full exercise of those overallotment options and conversion of the convertible debt, the company would end up issuing approximately 156.2 million shares of American Airlines stock.
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American Airlines (NASDAQ: AAL) was a huge beneficiary of the "dash for trash" that began about a month ago. The surge in speculation has tangibly helped American Airlines: Increased interest in the stock enabled the company to bolster its balance sheet with an equity and convertible debt offering this week. Assuming full exercise of those overallotment options and conversion of the convertible debt, the company would end up issuing approximately 156.2 million shares of American Airlines stock.
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American Airlines (NASDAQ: AAL) was a huge beneficiary of the "dash for trash" that began about a month ago. Indeed, while raising equity and convertible debt was the right move, it will significantly dilute existing shareholders. Thus, American Airlines shareholders could have their interests in the company diluted by up to 27%.
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d8a3572b-95a3-4ff5-8c5c-2038737a849c
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5625.0
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2020-06-24 00:00:00 UTC
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BHP puts Australian thermal coal mine up for sale - sources
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AAL
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https://www.nasdaq.com/articles/bhp-puts-australian-thermal-coal-mine-up-for-sale-sources-2020-06-24
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nan
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nan
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By Clara Denina and Melanie Burton
LONDON/MELBOURNE, June 24 (Reuters) - The world's largest mining company BHP Group BHP.AX, BHPB.L has hired Macquarie Bank and JP Morgan to sell its Australian thermal coal mine, three sources said, as miners face increasing pressure to reduce their exposure to fossil fuels.
BHP's BHP.AX, BHPB.L Mt Arthur open cut mine, in the Hunter Valley region of New South Wales, supplies thermal coal used as fuel for power plants, to domestic and international customers. Prices have tumbled this year, slashing BHP's likely sale price to less than $1 billion, two banking sources said.
BHP and U.S. investment bank JP Morgan declined to comment. Australian bank Macquarie did not immediately respond to a request for comment.
BHP previously said that the thermal coal business is a very small part of their portfolio, contributing about 3% of turnover and said in February that if a good offer came along they would be willing to sell.
Activist investor Elliott, which holds a 4.7% stake in the mining company, has pushed for the sale of BHP's thermal coal assets, which include one third of the Cerrejon mine in Colombia.
BHP has also been pressured by green groups and some shareholders to leave any industry associations with policies that fail to match the company's support for the 2015 Paris climate accord.
Rival mining companies have also taken steps to go thermal coal free, with Rio Tinto RIO.AX, RIO.L selling its last coal mines in 2018, and Anglo American AAL.L considering the spinoff or sale of its South African coal operations within the next two or three years.
There is a handful of companies including Australia's Whitehaven Coal Ltd WHC.AX, China's Yancoal YAC.AX and India's Adani Enterprises ADEL.NS that have expressed interest in the Mt Arthur mine, the sources said.
Sales processes have slowed over the past few months, as government lockdowns to contain the novel coronavirus halted mine visits and due diligence.
But as lockdown measures are gradually lifted, banking sources expect a sale for Mt Arthur could be possible by the end of the year.
(Additional reporting by Zandi Shabalala in London; editing by Barbara Lewis and Elaine Hardcastle)
((clara.denina@thomsonreuters.com(+44 207 542 9420)(Reuters Messaging: clara.denina.thomsonreuters.com@reuters.net)(Twitter: @claradenina))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Rival mining companies have also taken steps to go thermal coal free, with Rio Tinto RIO.AX, RIO.L selling its last coal mines in 2018, and Anglo American AAL.L considering the spinoff or sale of its South African coal operations within the next two or three years. BHP's BHP.AX, BHPB.L Mt Arthur open cut mine, in the Hunter Valley region of New South Wales, supplies thermal coal used as fuel for power plants, to domestic and international customers. BHP has also been pressured by green groups and some shareholders to leave any industry associations with policies that fail to match the company's support for the 2015 Paris climate accord.
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Rival mining companies have also taken steps to go thermal coal free, with Rio Tinto RIO.AX, RIO.L selling its last coal mines in 2018, and Anglo American AAL.L considering the spinoff or sale of its South African coal operations within the next two or three years. By Clara Denina and Melanie Burton LONDON/MELBOURNE, June 24 (Reuters) - The world's largest mining company BHP Group BHP.AX, BHPB.L has hired Macquarie Bank and JP Morgan to sell its Australian thermal coal mine, three sources said, as miners face increasing pressure to reduce their exposure to fossil fuels. Activist investor Elliott, which holds a 4.7% stake in the mining company, has pushed for the sale of BHP's thermal coal assets, which include one third of the Cerrejon mine in Colombia.
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Rival mining companies have also taken steps to go thermal coal free, with Rio Tinto RIO.AX, RIO.L selling its last coal mines in 2018, and Anglo American AAL.L considering the spinoff or sale of its South African coal operations within the next two or three years. By Clara Denina and Melanie Burton LONDON/MELBOURNE, June 24 (Reuters) - The world's largest mining company BHP Group BHP.AX, BHPB.L has hired Macquarie Bank and JP Morgan to sell its Australian thermal coal mine, three sources said, as miners face increasing pressure to reduce their exposure to fossil fuels. Activist investor Elliott, which holds a 4.7% stake in the mining company, has pushed for the sale of BHP's thermal coal assets, which include one third of the Cerrejon mine in Colombia.
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Rival mining companies have also taken steps to go thermal coal free, with Rio Tinto RIO.AX, RIO.L selling its last coal mines in 2018, and Anglo American AAL.L considering the spinoff or sale of its South African coal operations within the next two or three years. By Clara Denina and Melanie Burton LONDON/MELBOURNE, June 24 (Reuters) - The world's largest mining company BHP Group BHP.AX, BHPB.L has hired Macquarie Bank and JP Morgan to sell its Australian thermal coal mine, three sources said, as miners face increasing pressure to reduce their exposure to fossil fuels. BHP's BHP.AX, BHPB.L Mt Arthur open cut mine, in the Hunter Valley region of New South Wales, supplies thermal coal used as fuel for power plants, to domestic and international customers.
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520b4ff1-0756-446a-b0b8-c02dcc227496
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5626.0
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2020-06-24 00:00:00 UTC
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Buy American Airlines Stock Now for a Long-Term Recovery
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AAL
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https://www.nasdaq.com/articles/buy-american-airlines-stock-now-for-a-long-term-recovery-2020-06-24
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Most losses stem from obvious mistakes. Chasing a stock after a giant rally is an obvious mistake — it leaves investors vulnerable to disappointment. American Airlines (NASDAQ:AAL) shot up, and many learned about this disappointment the hard way. AAL stock has fallen this week, but its problems started a long time ago.
Source: GagliardiPhotography / Shutterstock.com
Much of this drama started in early June, when experts started calling for a rally. Unfortunately, shares have fallen 40% from highs set on June 5. That was around the time when CNBC began focusing on Robinhood investors and their quick profits on airline stocks. But these bullish investors overstayed their welcome, and profits turned into losses.
There are simple rules investor must be willing to follow, and there aren’t any real shortcuts. You must understand macroeconomics. Then, you must study a stock’s fundamentals. Compare companies to their competitors — in this instance, Delta Air Lines (NYSE:DAL) and United Airlines (NASDAQ:UAL). Lastly, I am a strong believer in the charts, so I never make a trade without studying levels and patterns.
Why do charts matter? Well, in an age where most trading is done by machines, the technical aspects ring truer than ever. Machines only trade based on history, and history is exactly what you see on the chart. Understanding the price history also means you can predict potential pitfalls.
Things Are Tougher Than They Seem
The big picture is terrible. Millions of U.S. residents are out of work, but the stock market doesn’t care. There’s even chatter of a second round of stimulus checks coming from the White House. Meanwhile, there is underlying weakness for American Airlines. The Transportation Security Administration traffic reports still show the daily airline throughput is down 78% year-over-year.
This is hardly supportive of the bull case.
10 Stocks to Watch in the Second Half
Now that we have established that the environment is still hostile for airlines, we must look at what upside potential AAL stock has. I can report that, so far, it is packing its planes full. It could be worse. I know this because my wife just flew to and from Texas, and both of her flights had zero empty seats.
Eventually, airlines will have to comply with new capacity rules. These rules will add to their burden. This sounds ominous, but it is important to thoroughly stress test every bullish thesis.
There Is Good News for AAL Stock
Source: Charts by TradingView
I promise you that I am not a hater. In fact, I shared a bullish write-up on March 31 calling AAL stock a “bargain buy.” Even though I didn’t nail a perfect bottom, that trade saw shares nearly double. Now, the stock is falling back into the clutches of those March levels. But, remember that it’s normal for a stock to revisit the base from which it rallied.
The rally that started June 4 was too steep to last. Now, ownership will transfer into better hands, which will help shares inch higher in a more sustainable way. Buying shares now makes a ton of sense — for both long-term and even mid-term investors.
I prefer selling puts or put spreads into the support area near $10 than bet on upside hopium. This way, I can generate profits without even needing a rally. In fact, the stock can fall another 30% before I would lose money on this trade.
Fret the New Normal for Crowd Economies
Crowd economies are now at a severe disadvantage, and airlines are at the center of the problem. Until we have a vaccine, many consumers won’t have the courage to fly. And some won’t even visit brick-and-mortar retailers. I personally now avoid Home Depot (NYSE:HD) and Costco (NASDAQ:COST), even though I frequented those stores for fun prior to the novel coronavirus.
Things may have changed forever, but I am optimistic. We may simply need time to heal.
Airlines will soon have to make big strategic decisions that will have consequences for their future success. The bottom line is that they are on life support. They are taking on more debt, digging deeper holes just to have cash. Yes, they need to do this to survive 2020. But this means expecting sharp upside rallies is not logical, because it assumes an overnight change in the airline situation. At this point, such a change is impossible.
Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. Join his live chat room for free here.
The post Buy American Airlines Stock Now for a Long-Term Recovery appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines (NASDAQ:AAL) shot up, and many learned about this disappointment the hard way. AAL stock has fallen this week, but its problems started a long time ago. 10 Stocks to Watch in the Second Half Now that we have established that the environment is still hostile for airlines, we must look at what upside potential AAL stock has.
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There Is Good News for AAL Stock Source: Charts by TradingView I promise you that I am not a hater. In fact, I shared a bullish write-up on March 31 calling AAL stock a “bargain buy.” Even though I didn’t nail a perfect bottom, that trade saw shares nearly double. American Airlines (NASDAQ:AAL) shot up, and many learned about this disappointment the hard way.
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10 Stocks to Watch in the Second Half Now that we have established that the environment is still hostile for airlines, we must look at what upside potential AAL stock has. In fact, I shared a bullish write-up on March 31 calling AAL stock a “bargain buy.” Even though I didn’t nail a perfect bottom, that trade saw shares nearly double. American Airlines (NASDAQ:AAL) shot up, and many learned about this disappointment the hard way.
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In fact, I shared a bullish write-up on March 31 calling AAL stock a “bargain buy.” Even though I didn’t nail a perfect bottom, that trade saw shares nearly double. American Airlines (NASDAQ:AAL) shot up, and many learned about this disappointment the hard way. AAL stock has fallen this week, but its problems started a long time ago.
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10b51d77-0019-44ee-93ac-d185ba3127c5
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5627.0
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2020-06-23 00:00:00 UTC
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S&P 500 Movers: AAL, MHK
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AAL
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https://www.nasdaq.com/articles/sp-500-movers%3A-aal-mhk-2020-06-23
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nan
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nan
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In early trading on Tuesday, shares of Mohawk Industries, topped the list of the day's best performing components of the S&P 500 index, trading up 8.6%. Year to date, Mohawk Industries, has lost about 26.5% of its value.
And the worst performing S&P 500 component thus far on the day is American Airlines Group, trading down 5.9%. American Airlines Group Inc is lower by about 51.0% looking at the year to date performance.
Two other components making moves today are Cboe Global Markets, trading down 3.2%, and Sysco, trading up 7.7% on the day.
VIDEO: S&P 500 Movers: AAL, MHK
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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VIDEO: S&P 500 Movers: AAL, MHK The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. And the worst performing S&P 500 component thus far on the day is American Airlines Group, trading down 5.9%. American Airlines Group Inc is lower by about 51.0% looking at the year to date performance.
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VIDEO: S&P 500 Movers: AAL, MHK 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, Mohawk Industries, has lost about 26.5% of its value. And the worst performing S&P 500 component thus far on the day is American Airlines Group, trading down 5.9%.
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VIDEO: S&P 500 Movers: AAL, MHK 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 Tuesday, shares of Mohawk Industries, topped the list of the day's best performing components of the S&P 500 index, trading up 8.6%. And the worst performing S&P 500 component thus far on the day is American Airlines Group, trading down 5.9%.
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VIDEO: S&P 500 Movers: AAL, MHK 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 Tuesday, shares of Mohawk Industries, topped the list of the day's best performing components of the S&P 500 index, trading up 8.6%. And the worst performing S&P 500 component thus far on the day is American Airlines Group, trading down 5.9%.
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dca89470-9eb7-4d8d-9b4d-c31c5801a012
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5628.0
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2020-06-23 00:00:00 UTC
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Tuesday's Rising Market Is Leaving Airline Stocks Behind
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AAL
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https://www.nasdaq.com/articles/tuesdays-rising-market-is-leaving-airline-stocks-behind-2020-06-23
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nan
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nan
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Stocks were generally higher on Tuesday morning, with investors shrugging off concerns about the rise in reported COVID-19 cases in key states like Florida, Texas, and California. Instead, the focus appears to be on how quickly hard-hit Americans can get back to work and play their part in helping the overall economy return to more normal conditions. Just after 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 176 points to 26,201. The S&P 500 (SNPINDEX: ^GSPC) rose 25 points to 3,143, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) picked up 105 points to 10,162.
Tuesday's gains were broad-based, but there were still some notable laggards that missed out on the rally. Airline stocks were among the worst performers, with a couple seeing greater losses than the rest. Even as the economy gets back on track, it's still unclear whether airlines will bounce back as much as other companies do.
Raising more money
With airlines operating far below full capacity, raising capital in order to maintain financial reserves and offset negative cash flow has been essential. Unfortunately, it's been necessary to pull out all the stops in order to find viable funding sources, and that's weighing on shareholder confidence.
American Airlines Group (NASDAQ: AAL) announced the pricing that it received on its efforts to raise about $2 billion through offerings of stock and debt. American sold 74.1 million shares of stock to investors at a price of $13.50 per share, raising roughly $1 billion. The offering was larger than the originally anticipated $750 million, but it's hard to say that American's decision was motivated by strong demand, because the offering price turned out to be nearly 10% lower than where the shares closed Monday.
Image source: American Airlines.
In addition, American priced five-year convertible notes to pay a yield of 6.5%. That offering also got upsized from $750 million to $1 billion, with noteholders being able to convert their bonds to stock at a price of $16.20 per share. Overall, the two offerings prompted a quick 6% retreat for the stock Tuesday morning.
Meanwhile, United Airlines Holdings (NASDAQ: UAL) announced that its MileagePlus program subsidiary will raise $3 billion through an offering of seven-year notes. The mileage program will then turn around and lend the net proceeds to United. Terms of the offering haven't yet been set, but the news sent United shares down 3%.
Can airlines gain altitude?
Elsewhere in the industry, losses were more modest. Southwest Airlines (NYSE: LUV) and Delta Air Lines (NYSE: DAL) were down around 1%, while smaller airlines generally saw losses in the 1% to 3% range.
Airline investors have two primary worries right now. On one hand, the prospects for airlines' fundamental business models are very much in question, because it's not obvious exactly what coronavirus-safe air travel will really look like. Currently, most airlines are doing things like leaving middle seats empty in order to generate somewhat more space, but maxing out at 67% load factors isn't a viable long-term solution without some significant changes in pricing practices. Whether it's new seat configurations, schedule changes, or more draconian measures, airlines might not be able to return to business as usual anytime soon.
On the other hand, the terms at which airlines are getting much-needed cash have become increasingly unfriendly to shareholders. Stock offerings dilute potential gains from a rebound, and so even if airlines get back to normal, their stock prices won't necessarily bounce back as sharply. Bond offerings at high interest rates weigh on earnings, and convertible bond offerings also have potential dilution issues.
Airline stocks will remain in the spotlight for a long time, and a lot will depend on how quickly passengers return to the skies. If new waves of COVID-19 lead would-be travelers to stay home, airlines could face turbulent conditions well into the future.
10 stocks we like better than United Airlines Holdings
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and United Airlines Holdings 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 June 2, 2020
Dan Caplinger 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.
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American Airlines Group (NASDAQ: AAL) announced the pricing that it received on its efforts to raise about $2 billion through offerings of stock and debt. Stocks were generally higher on Tuesday morning, with investors shrugging off concerns about the rise in reported COVID-19 cases in key states like Florida, Texas, and California. Instead, the focus appears to be on how quickly hard-hit Americans can get back to work and play their part in helping the overall economy return to more normal conditions.
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American Airlines Group (NASDAQ: AAL) announced the pricing that it received on its efforts to raise about $2 billion through offerings of stock and debt. Southwest Airlines (NYSE: LUV) and Delta Air Lines (NYSE: DAL) were down around 1%, while smaller airlines generally saw losses in the 1% to 3% range. Stock offerings dilute potential gains from a rebound, and so even if airlines get back to normal, their stock prices won't necessarily bounce back as sharply.
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American Airlines Group (NASDAQ: AAL) announced the pricing that it received on its efforts to raise about $2 billion through offerings of stock and debt. Stock offerings dilute potential gains from a rebound, and so even if airlines get back to normal, their stock prices won't necessarily bounce back as sharply. 10 stocks we like better than United Airlines Holdings When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen.
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American Airlines Group (NASDAQ: AAL) announced the pricing that it received on its efforts to raise about $2 billion through offerings of stock and debt. Unfortunately, it's been necessary to pull out all the stops in order to find viable funding sources, and that's weighing on shareholder confidence. Meanwhile, United Airlines Holdings (NASDAQ: UAL) announced that its MileagePlus program subsidiary will raise $3 billion through an offering of seven-year notes.
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5817356f-877a-40ce-b7ae-6545dea2556c
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5629.0
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2020-06-23 00:00:00 UTC
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4 Top Stock Trades for Wednesday: NVDA, DIS, GE, AAL
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AAL
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https://www.nasdaq.com/articles/4-top-stock-trades-for-wednesday%3A-nvda-dis-ge-aal-2020-06-23
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
After some overnight futures drama regarding the trade deal between the U.S. and China, equities rallied hard. However, breadth wasn’t all that great. That said, let’s look at a few top stock trades for Wednesday.
Top Stock Trades for Tomorrow No. 1: Nvidia (NVDA)
Click to Enlarge
Source: Chart courtesy of StockCharts.com
Nvidia (NASDAQ:NVDA) spent the last month consolidating its gains in a sideways manner. And after such a robust rally from the March lows, this is about the best case scenario bulls could have hoped for.
Shares are now breaking out over recent resistance at $370, although the move has been slow thus far. Should NVDA continue higher, look to see if the stock can get to the 161.8% extension, which comes into play up at $399.
Bulls will also be targeting the $400 level, a nice round number.
7 of the Best Penny Stocks to Buy Now
On the downside, however, look for a break of the $370 level. If this former resistance level doesn’t act as support, a drop to the 20-day moving average may be in play, followed by the $340 to $350 area.
Top Stock Trades for Tomorrow No. 2: Disney (DIS)
Click to Enlarge
Source: Chart courtesy of StockCharts.com
Disney (NYSE:DIS) has plans to start reopening its parks in France and Japan, along with a likely return to the MLB season. However, rising numbers of the novel coronavirus may not bode well for Disney shares.
The stock is trading above its 50-day moving average, but below its 20-day. Furthermore, downtrend resistance continues to pressure shares lower in the short term (blue line).
A move over downtrend resistance and the 20-day puts the 200-day moving average in play. A break of $110, though, puts $100 back on the table.
Top Stock Trades for Tomorrow No. 3: General Electric (GE)
Click to Enlarge
Source: Chart courtesy of StockCharts.com
General Electric (NYSE:GE) isn’t too different from Disney, at least when looking at the last few weeks of action.
Caught between the 20-day moving average and the 50-day moving average, GE stock is also trapped below downtrend resistance. Unfortunately, it’s also below the 23.6% retracement.
A move below $7 puts the 50-day moving average in play. Below that, and $6 is possible. On a rally, however, look to see if GE can clear the 20-day moving average. Above it puts the $8 to $8.50 area on the table.
5 Cheap Growth Stocks With Attractive Dividend Yields
Above that zone, and technically the 200-day moving average is possible.
Top Stock Trades for Tomorrow No. 4: American Airlines (AAL)
Click to Enlarge
Source: Chart courtesy of StockCharts.com
American Airlines (NASDAQ:AAL) has been very volatile. That’s true over the last few days, but really, it’s been the case all month.
A few weeks ago, AAL stock erupted over the $12.50 level, rallying more than 40% in a single session. Shares ultimately ran to the 200-day moving average, topping out at this mark as failed to continue higher.
Since then, the stock has put in a series of lower highs and on Tuesday, gapped below the 20-day moving average.
From here, the setup is simple. I either want to see a further correction down to $12.50 and the 50-day moving average, or I need to see a breakout over the 20-day moving average and downtrend resistance. Clearing the 38.2% retracement at $16.86 would be a positive, too.
A break below support puts more downside in play, while clearing overhead resistance could put the 50% retracement back on the table near $19.50.
Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long NVDA and DIS.
The post 4 Top Stock Trades for Wednesday: NVDA, DIS, GE, AAL appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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4: American Airlines (AAL) Click to Enlarge Source: Chart courtesy of StockCharts.com American Airlines (NASDAQ:AAL) has been very volatile. A few weeks ago, AAL stock erupted over the $12.50 level, rallying more than 40% in a single session.
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Click to Enlarge Source: Chart courtesy of StockCharts.com American Airlines (NASDAQ:AAL) has been very volatile. 4: American Airlines (AAL) A few weeks ago, AAL stock erupted over the $12.50 level, rallying more than 40% in a single session.
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4: American Airlines (AAL) Click to Enlarge Source: Chart courtesy of StockCharts.com American Airlines (NASDAQ:AAL) has been very volatile. A few weeks ago, AAL stock erupted over the $12.50 level, rallying more than 40% in a single session.
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The post 4 Top Stock Trades for Wednesday: NVDA, DIS, GE, AAL appeared first on InvestorPlace. 4: American Airlines (AAL) Click to Enlarge Source: Chart courtesy of StockCharts.com American Airlines (NASDAQ:AAL) has been very volatile.
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8a929663-d612-472d-a8eb-17fe29fb946d
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5630.0
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2020-06-23 00:00:00 UTC
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Why Shares of American Airlines Are Falling Today
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AAL
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https://www.nasdaq.com/articles/why-shares-of-american-airlines-are-falling-today-2020-06-23
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nan
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nan
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What happened
Shares of American Airlines Group (NASDAQ: AAL) traded down 7% at noon EDT on Tuesday after the airline priced new debt and equity offerings, raising $2 billion in additional capital but at a cost to existing shareholders.
So what
American and other airlines have been scrambling to raise cash to weather the pandemic. Travel demand fell by upward of 90% in March and April, and although there are some encouraging signs that demand is beginning to bounce off of that bottom, it will likely take years for traffic to return to pre-pandemic levels.
Image source: American Airlines.
American came into the crisis as the airline with the most debt on its balance sheet and expects to burn through about $40 million per day in June. The airline hopes to get its cash bleed down to zero by the end of the year, but with the threat of a pandemic second wave still out there, the safest thing to do is to raise as much cash as possible.
The airline did just that on Tuesday, saying it raised $1 billion selling stock at $13.50 per share along with $1 billion in convertible notes. The share price is a 9% discount to Monday's close, as is typical in secondary offerings.
American is also trying to raise about $1.5 billion in bonds, but according to Bloomberg might have to pay upward of 12% interest to get the deal done.
Now what
Secondary offerings by their nature mean individual shareholders own a smaller sliver of the company, and typically put near-term pressure on the stock. In that regard, Tuesday's sell-off is no surprise. But long-term holders shouldn't be upset that American did this offering.
Shares of American, down more than 70% in May, have rebounded somewhat but are still down by more than 50% year to date. There's still real risk that a second wave will reverse the momentum we have seen in bookings, and starve the industry of revenue once again.
In the worst-case scenario, American could still run out of cash and be forced into bankruptcy. That would likely mean shareholders would be wiped out. With that as a potential alternative, a 7% drop after raising billions in new capital seems a small price to pay for existing investors.
10 stocks we like better than American Airlines Group
When investing geniuses David and Tom Gardner have 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.*
David and Tom 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 June 2, 2020
Lou Whiteman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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What happened Shares of American Airlines Group (NASDAQ: AAL) traded down 7% at noon EDT on Tuesday after the airline priced new debt and equity offerings, raising $2 billion in additional capital but at a cost to existing shareholders. American came into the crisis as the airline with the most debt on its balance sheet and expects to burn through about $40 million per day in June. Now what Secondary offerings by their nature mean individual shareholders own a smaller sliver of the company, and typically put near-term pressure on the stock.
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What happened Shares of American Airlines Group (NASDAQ: AAL) traded down 7% at noon EDT on Tuesday after the airline priced new debt and equity offerings, raising $2 billion in additional capital but at a cost to existing shareholders. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. * David and Tom 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!
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What happened Shares of American Airlines Group (NASDAQ: AAL) traded down 7% at noon EDT on Tuesday after the airline priced new debt and equity offerings, raising $2 billion in additional capital but at a cost to existing shareholders. The airline did just that on Tuesday, saying it raised $1 billion selling stock at $13.50 per share along with $1 billion in convertible notes. 10 stocks we like better than American Airlines Group When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen.
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What happened Shares of American Airlines Group (NASDAQ: AAL) traded down 7% at noon EDT on Tuesday after the airline priced new debt and equity offerings, raising $2 billion in additional capital but at a cost to existing shareholders. The airline did just that on Tuesday, saying it raised $1 billion selling stock at $13.50 per share along with $1 billion in convertible notes. * David and Tom 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!
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82f31112-0f9b-4ab5-b8b9-a85f2445ee33
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5631.0
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2020-06-23 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-CorEnergy Infrastructure, Workhorse Group, Broadway Financial
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AAL
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-corenergy-infrastructure-workhorse-group-broadway-financial
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nan
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nan
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Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's three major indexes rose on Tuesday as improving economic data and the prospect of more stimulus bolstered hopes of a swift recovery, while a jump in technology shares powered the Nasdaq to another record high. .N
At 11:30 ET, the Dow Jones Industrial Average .DJI was up 0.92% at 26,265.41. The S&P 500 .SPX was up 0.89% at 3,145.67 and the Nasdaq Composite .IXIC was up 1.29% at 10,186.643. The top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries Inc MHK.N, up 10.8% ** Sysco Corp SYY.N, up 7.7% ** Freeport-McMoRan FCX.N, up 4% The top three S&P 500 .PL.INX percentage losers: ** American Airlines Group AAL.OQ, down 7.3% ** United Airlines Holding UAL.OQ, down 4.4% ** Micron Tech MU.OQ, down 2.5% The top three NYSE .PG.N percentage gainers: ** China Rapid Finance XRF.N, up 58.3% ** Caledonia Mining Corporation CMCL.N, up 25.7% ** Dynagas LNG Partners DLNG.N, up 19.7% The top three NYSE .PL.N percentage losers: ** American Shared Hospital Services AMS.N, down 16% ** Spirit Aerosystems Holding SPR.N, down 14.2% ** Armata Pharmaceuticals ARMP.N, down 12.5% The top three Nasdaq .PG.O percentage gainers: ** Neuronetics Inc STIM.O, up 51.4% ** Translate Bio Inc TBIO.O, up 39.8% ** Fuwei Films Holding FFHL.O, up 35.4% The top three Nasdaq .PL.O percentage losers: ** Kirklands Inc KIRK.O, down 28.5% ** 9F Inc JFU.O, down 18.4% ** Luckin Coffee Inc LK.O, down 17% ** Recon Tech RCON.O: up 3.3%
BUZZ-Up on MoU with Chinese water purification firm ** W&T Offshore WTI.N: up 1.4%
BUZZ-Rises as Q1 profit beats on higher production ** ON Semiconductor ON.O: up 3.7%
BUZZ-Piper Sandler sees significant recovery in 2021, upgrades ** Apple Inc AAPL.O: up 2.2%
BUZZ-Up as brokerages raise iPhone shipment estimates, PT ** Translate Bio TBIO.O: up 39.8%
BUZZ-Eyes record open on vaccine expansion deal with Sanofi ** Fuwei Films FFHL.O: up 35.4%
BUZZ-Surges as co swings to Q1 profit ** Spirit Aerosystems SPR.N: down 14.2%
BUZZ-Falls as Berenberg downgrades on Boeing's lower demand outlook ** Immunomedics Inc IMMU.O: up 0.8%
BUZZ-Guggenheim picks Pfizer, Merck, Lilly among likely buyers ** Barnwell Industries Inc BRN.A: up 96.3%
BUZZ-Soars as quarterly loss narrows ** Beyond Meat BYND.O: down 3.5%
BUZZ-Down after Starbucks picks Impossible Foods for summer menu ** American Airlines AAL.O: down 7.3%
BUZZ-Descends after $2 bln haul from upsized stock, convertible deals ** FedEx Corp FDX.N: up 0.9%
BUZZ-BMO Capital expects Q4 to mark cyclical bottom for FedEx; raises PT ** Inovio Pharmaceuticals INO.O: up 21.4%
BUZZ-Rises on $71 mln U.S. DoD grant for COVID-19 vaccine device ** China Automotive Systems CAAS.O: up 0.6%
BUZZ-Rises on Q1 revenue beat ** Floor & Decor FND.N: up 2.2%
BUZZ-Berenberg initiates with 'buy', cites co as compelling investment ** Luckin Coffee LK.O: down 17.0%
BUZZ-Falls as coffee chain gets another de-listing notice ** Myovant Sciences MYOV.N: up 10.2%
BUZZ-Up on positive data for endometriosis treatment ** Grocery Outlet GO.O: up 8.9%
BUZZ-Jumps as set to join S&P MidCap 400 ** Sunesis Pharma SNSS.O: down 40.5%
BUZZ-Plunges on stopping lead cancer drug development ** World Wrestling Entertainment Inc WWE.N: up 0.6%
BUZZ-Needham raises PT as lockdown couch potatoes push viewership ** Broadway Financial BYFC.O: down 16.5%
BUZZ-Key investor dissolves stake ** Air Products & Chemicals APD.N: up 0.9%
BUZZ-Margins, growth to drive PT higher ** Canadian Solar CSIQ.O: up 4.3%
BUZZ-Rises on two power purchase deals in Brazil ** Ideanomics IDEX.O: down 5.3%
BUZZ-Falls on plans of up to $250 mln mixed-shelf offering ** Palatin Technologies PTN.A: up 21.9%
BUZZ-Jumps as drugmaker says developing potential COVID-19 treatment ** Workhorse Group Inc WKHS.O: up 18.0%
BUZZ-Gallops to over 3-yr high as its delivery vans clear safety tests ** CorEnergy Infrastructure CORR.N: down 10.1%
BUZZ-Falls on prelim. Q1 loss, flags charge in Q2
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 1.09%
Consumer Discretionary
.SPLRCD
up 1.40%
Consumer Staples
.SPLRCS
up 0.92%
Energy
.SPNY
up 1.22%
Financial
.SPSY
up 1.00%
Health
.SPXHC
up 1.16%
Industrial
.SPLRCI
up 0.27%
Information Technology
.SPLRCT
up 1.35%
Materials
.SPLRCM
up 1.00%
Real Estate
.SPLRCR
down 0.06%
Utilities
.SPLRCU
down 0.93%
(Compiled by Shivani Kumaresan in Bengaluru)
((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries Inc MHK.N, up 10.8% ** Sysco Corp SYY.N, up 7.7% ** Freeport-McMoRan FCX.N, up 4% The top three S&P 500 .PL.INX percentage losers: ** American Airlines Group AAL.OQ, down 7.3% ** United Airlines Holding UAL.OQ, down 4.4% ** Micron Tech MU.OQ, down 2.5% The top three NYSE .PG.N percentage gainers: ** China Rapid Finance XRF.N, up 58.3% ** Caledonia Mining Corporation CMCL.N, up 25.7% ** Dynagas LNG Partners DLNG.N, up 19.7% The top three NYSE .PL.N percentage losers: ** American Shared Hospital Services AMS.N, down 16% ** Spirit Aerosystems Holding SPR.N, down 14.2% ** Armata Pharmaceuticals ARMP.N, down 12.5% The top three Nasdaq .PG.O percentage gainers: ** Neuronetics Inc STIM.O, up 51.4% ** Translate Bio Inc TBIO.O, up 39.8% ** Fuwei Films Holding FFHL.O, up 35.4% The top three Nasdaq .PL.O percentage losers: ** Kirklands Inc KIRK.O, down 28.5% ** 9F Inc JFU.O, down 18.4% ** Luckin Coffee Inc LK.O, down 17% ** Recon Tech RCON.O: up 3.3% BUZZ-Up on MoU with Chinese water purification firm ** W&T Offshore WTI.N: up 1.4% BUZZ-Rises as Q1 profit beats on higher production ** ON Semiconductor ON.O: up 3.7% BUZZ-Piper Sandler sees significant recovery in 2021, upgrades ** Apple Inc AAPL.O: up 2.2% BUZZ-Up as brokerages raise iPhone shipment estimates, PT ** Translate Bio TBIO.O: up 39.8% BUZZ-Eyes record open on vaccine expansion deal with Sanofi ** Fuwei Films FFHL.O: up 35.4% BUZZ-Surges as co swings to Q1 profit ** Spirit Aerosystems SPR.N: down 14.2% BUZZ-Falls as Berenberg downgrades on Boeing's lower demand outlook ** Immunomedics Inc IMMU.O: up 0.8% BUZZ-Guggenheim picks Pfizer, Merck, Lilly among likely buyers ** Barnwell Industries Inc BRN.A: up 96.3% BUZZ-Soars as quarterly loss narrows ** Beyond Meat BYND.O: down 3.5% BUZZ-Down after Starbucks picks Impossible Foods for summer menu ** American Airlines AAL.O: down 7.3% BUZZ-Descends after $2 bln haul from upsized stock, convertible deals ** FedEx Corp FDX.N: up 0.9% BUZZ-BMO Capital expects Q4 to mark cyclical bottom for FedEx; raises PT ** Inovio Pharmaceuticals INO.O: up 21.4% BUZZ-Rises on $71 mln U.S. DoD grant for COVID-19 vaccine device ** China Automotive Systems CAAS.O: up 0.6% BUZZ-Rises on Q1 revenue beat ** Floor & Decor FND.N: up 2.2% BUZZ-Berenberg initiates with 'buy', cites co as compelling investment ** Luckin Coffee LK.O: down 17.0% BUZZ-Falls as coffee chain gets another de-listing notice ** Myovant Sciences MYOV.N: up 10.2% BUZZ-Up on positive data for endometriosis treatment ** Grocery Outlet GO.O: up 8.9% BUZZ-Jumps as set to join S&P MidCap 400 ** Sunesis Pharma SNSS.O: down 40.5% BUZZ-Plunges on stopping lead cancer drug development ** World Wrestling Entertainment Inc WWE.N: up 0.6% BUZZ-Needham raises PT as lockdown couch potatoes push viewership ** Broadway Financial BYFC.O: down 16.5% BUZZ-Key investor dissolves stake ** Air Products & Chemicals APD.N: up 0.9% BUZZ-Margins, growth to drive PT higher ** Canadian Solar CSIQ.O: up 4.3% BUZZ-Rises on two power purchase deals in Brazil ** Ideanomics IDEX.O: down 5.3% BUZZ-Falls on plans of up to $250 mln mixed-shelf offering ** Palatin Technologies PTN.A: up 21.9% BUZZ-Jumps as drugmaker says developing potential COVID-19 treatment ** Workhorse Group Inc WKHS.O: up 18.0% BUZZ-Gallops to over 3-yr high as its delivery vans clear safety tests ** CorEnergy Infrastructure CORR.N: down 10.1% BUZZ-Falls on prelim. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's three major indexes rose on Tuesday as improving economic data and the prospect of more stimulus bolstered hopes of a swift recovery, while a jump in technology shares powered the Nasdaq to another record high. Q1 loss, flags charge in Q2 The 11 major S&P 500 sectors: Communication Services
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The top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries Inc MHK.N, up 10.8% ** Sysco Corp SYY.N, up 7.7% ** Freeport-McMoRan FCX.N, up 4% The top three S&P 500 .PL.INX percentage losers: ** American Airlines Group AAL.OQ, down 7.3% ** United Airlines Holding UAL.OQ, down 4.4% ** Micron Tech MU.OQ, down 2.5% The top three NYSE .PG.N percentage gainers: ** China Rapid Finance XRF.N, up 58.3% ** Caledonia Mining Corporation CMCL.N, up 25.7% ** Dynagas LNG Partners DLNG.N, up 19.7% The top three NYSE .PL.N percentage losers: ** American Shared Hospital Services AMS.N, down 16% ** Spirit Aerosystems Holding SPR.N, down 14.2% ** Armata Pharmaceuticals ARMP.N, down 12.5% The top three Nasdaq .PG.O percentage gainers: ** Neuronetics Inc STIM.O, up 51.4% ** Translate Bio Inc TBIO.O, up 39.8% ** Fuwei Films Holding FFHL.O, up 35.4% The top three Nasdaq .PL.O percentage losers: ** Kirklands Inc KIRK.O, down 28.5% ** 9F Inc JFU.O, down 18.4% ** Luckin Coffee Inc LK.O, down 17% ** Recon Tech RCON.O: up 3.3% BUZZ-Up on MoU with Chinese water purification firm ** W&T Offshore WTI.N: up 1.4% BUZZ-Rises as Q1 profit beats on higher production ** ON Semiconductor ON.O: up 3.7% BUZZ-Piper Sandler sees significant recovery in 2021, upgrades ** Apple Inc AAPL.O: up 2.2% BUZZ-Up as brokerages raise iPhone shipment estimates, PT ** Translate Bio TBIO.O: up 39.8% BUZZ-Eyes record open on vaccine expansion deal with Sanofi ** Fuwei Films FFHL.O: up 35.4% BUZZ-Surges as co swings to Q1 profit ** Spirit Aerosystems SPR.N: down 14.2% BUZZ-Falls as Berenberg downgrades on Boeing's lower demand outlook ** Immunomedics Inc IMMU.O: up 0.8% BUZZ-Guggenheim picks Pfizer, Merck, Lilly among likely buyers ** Barnwell Industries Inc BRN.A: up 96.3% BUZZ-Soars as quarterly loss narrows ** Beyond Meat BYND.O: down 3.5% BUZZ-Down after Starbucks picks Impossible Foods for summer menu ** American Airlines AAL.O: down 7.3% BUZZ-Descends after $2 bln haul from upsized stock, convertible deals ** FedEx Corp FDX.N: up 0.9% BUZZ-BMO Capital expects Q4 to mark cyclical bottom for FedEx; raises PT ** Inovio Pharmaceuticals INO.O: up 21.4% BUZZ-Rises on $71 mln U.S. DoD grant for COVID-19 vaccine device ** China Automotive Systems CAAS.O: up 0.6% BUZZ-Rises on Q1 revenue beat ** Floor & Decor FND.N: up 2.2% BUZZ-Berenberg initiates with 'buy', cites co as compelling investment ** Luckin Coffee LK.O: down 17.0% BUZZ-Falls as coffee chain gets another de-listing notice ** Myovant Sciences MYOV.N: up 10.2% BUZZ-Up on positive data for endometriosis treatment ** Grocery Outlet GO.O: up 8.9% BUZZ-Jumps as set to join S&P MidCap 400 ** Sunesis Pharma SNSS.O: down 40.5% BUZZ-Plunges on stopping lead cancer drug development ** World Wrestling Entertainment Inc WWE.N: up 0.6% BUZZ-Needham raises PT as lockdown couch potatoes push viewership ** Broadway Financial BYFC.O: down 16.5% BUZZ-Key investor dissolves stake ** Air Products & Chemicals APD.N: up 0.9% BUZZ-Margins, growth to drive PT higher ** Canadian Solar CSIQ.O: up 4.3% BUZZ-Rises on two power purchase deals in Brazil ** Ideanomics IDEX.O: down 5.3% BUZZ-Falls on plans of up to $250 mln mixed-shelf offering ** Palatin Technologies PTN.A: up 21.9% BUZZ-Jumps as drugmaker says developing potential COVID-19 treatment ** Workhorse Group Inc WKHS.O: up 18.0% BUZZ-Gallops to over 3-yr high as its delivery vans clear safety tests ** CorEnergy Infrastructure CORR.N: down 10.1% BUZZ-Falls on prelim. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's three major indexes rose on Tuesday as improving economic data and the prospect of more stimulus bolstered hopes of a swift recovery, while a jump in technology shares powered the Nasdaq to another record high. down 0.93% (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries Inc MHK.N, up 10.8% ** Sysco Corp SYY.N, up 7.7% ** Freeport-McMoRan FCX.N, up 4% The top three S&P 500 .PL.INX percentage losers: ** American Airlines Group AAL.OQ, down 7.3% ** United Airlines Holding UAL.OQ, down 4.4% ** Micron Tech MU.OQ, down 2.5% The top three NYSE .PG.N percentage gainers: ** China Rapid Finance XRF.N, up 58.3% ** Caledonia Mining Corporation CMCL.N, up 25.7% ** Dynagas LNG Partners DLNG.N, up 19.7% The top three NYSE .PL.N percentage losers: ** American Shared Hospital Services AMS.N, down 16% ** Spirit Aerosystems Holding SPR.N, down 14.2% ** Armata Pharmaceuticals ARMP.N, down 12.5% The top three Nasdaq .PG.O percentage gainers: ** Neuronetics Inc STIM.O, up 51.4% ** Translate Bio Inc TBIO.O, up 39.8% ** Fuwei Films Holding FFHL.O, up 35.4% The top three Nasdaq .PL.O percentage losers: ** Kirklands Inc KIRK.O, down 28.5% ** 9F Inc JFU.O, down 18.4% ** Luckin Coffee Inc LK.O, down 17% ** Recon Tech RCON.O: up 3.3% BUZZ-Up on MoU with Chinese water purification firm ** W&T Offshore WTI.N: up 1.4% BUZZ-Rises as Q1 profit beats on higher production ** ON Semiconductor ON.O: up 3.7% BUZZ-Piper Sandler sees significant recovery in 2021, upgrades ** Apple Inc AAPL.O: up 2.2% BUZZ-Up as brokerages raise iPhone shipment estimates, PT ** Translate Bio TBIO.O: up 39.8% BUZZ-Eyes record open on vaccine expansion deal with Sanofi ** Fuwei Films FFHL.O: up 35.4% BUZZ-Surges as co swings to Q1 profit ** Spirit Aerosystems SPR.N: down 14.2% BUZZ-Falls as Berenberg downgrades on Boeing's lower demand outlook ** Immunomedics Inc IMMU.O: up 0.8% BUZZ-Guggenheim picks Pfizer, Merck, Lilly among likely buyers ** Barnwell Industries Inc BRN.A: up 96.3% BUZZ-Soars as quarterly loss narrows ** Beyond Meat BYND.O: down 3.5% BUZZ-Down after Starbucks picks Impossible Foods for summer menu ** American Airlines AAL.O: down 7.3% BUZZ-Descends after $2 bln haul from upsized stock, convertible deals ** FedEx Corp FDX.N: up 0.9% BUZZ-BMO Capital expects Q4 to mark cyclical bottom for FedEx; raises PT ** Inovio Pharmaceuticals INO.O: up 21.4% BUZZ-Rises on $71 mln U.S. DoD grant for COVID-19 vaccine device ** China Automotive Systems CAAS.O: up 0.6% BUZZ-Rises on Q1 revenue beat ** Floor & Decor FND.N: up 2.2% BUZZ-Berenberg initiates with 'buy', cites co as compelling investment ** Luckin Coffee LK.O: down 17.0% BUZZ-Falls as coffee chain gets another de-listing notice ** Myovant Sciences MYOV.N: up 10.2% BUZZ-Up on positive data for endometriosis treatment ** Grocery Outlet GO.O: up 8.9% BUZZ-Jumps as set to join S&P MidCap 400 ** Sunesis Pharma SNSS.O: down 40.5% BUZZ-Plunges on stopping lead cancer drug development ** World Wrestling Entertainment Inc WWE.N: up 0.6% BUZZ-Needham raises PT as lockdown couch potatoes push viewership ** Broadway Financial BYFC.O: down 16.5% BUZZ-Key investor dissolves stake ** Air Products & Chemicals APD.N: up 0.9% BUZZ-Margins, growth to drive PT higher ** Canadian Solar CSIQ.O: up 4.3% BUZZ-Rises on two power purchase deals in Brazil ** Ideanomics IDEX.O: down 5.3% BUZZ-Falls on plans of up to $250 mln mixed-shelf offering ** Palatin Technologies PTN.A: up 21.9% BUZZ-Jumps as drugmaker says developing potential COVID-19 treatment ** Workhorse Group Inc WKHS.O: up 18.0% BUZZ-Gallops to over 3-yr high as its delivery vans clear safety tests ** CorEnergy Infrastructure CORR.N: down 10.1% BUZZ-Falls on prelim. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's three major indexes rose on Tuesday as improving economic data and the prospect of more stimulus bolstered hopes of a swift recovery, while a jump in technology shares powered the Nasdaq to another record high. up 1.09% Consumer Discretionary
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The top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries Inc MHK.N, up 10.8% ** Sysco Corp SYY.N, up 7.7% ** Freeport-McMoRan FCX.N, up 4% The top three S&P 500 .PL.INX percentage losers: ** American Airlines Group AAL.OQ, down 7.3% ** United Airlines Holding UAL.OQ, down 4.4% ** Micron Tech MU.OQ, down 2.5% The top three NYSE .PG.N percentage gainers: ** China Rapid Finance XRF.N, up 58.3% ** Caledonia Mining Corporation CMCL.N, up 25.7% ** Dynagas LNG Partners DLNG.N, up 19.7% The top three NYSE .PL.N percentage losers: ** American Shared Hospital Services AMS.N, down 16% ** Spirit Aerosystems Holding SPR.N, down 14.2% ** Armata Pharmaceuticals ARMP.N, down 12.5% The top three Nasdaq .PG.O percentage gainers: ** Neuronetics Inc STIM.O, up 51.4% ** Translate Bio Inc TBIO.O, up 39.8% ** Fuwei Films Holding FFHL.O, up 35.4% The top three Nasdaq .PL.O percentage losers: ** Kirklands Inc KIRK.O, down 28.5% ** 9F Inc JFU.O, down 18.4% ** Luckin Coffee Inc LK.O, down 17% ** Recon Tech RCON.O: up 3.3% BUZZ-Up on MoU with Chinese water purification firm ** W&T Offshore WTI.N: up 1.4% BUZZ-Rises as Q1 profit beats on higher production ** ON Semiconductor ON.O: up 3.7% BUZZ-Piper Sandler sees significant recovery in 2021, upgrades ** Apple Inc AAPL.O: up 2.2% BUZZ-Up as brokerages raise iPhone shipment estimates, PT ** Translate Bio TBIO.O: up 39.8% BUZZ-Eyes record open on vaccine expansion deal with Sanofi ** Fuwei Films FFHL.O: up 35.4% BUZZ-Surges as co swings to Q1 profit ** Spirit Aerosystems SPR.N: down 14.2% BUZZ-Falls as Berenberg downgrades on Boeing's lower demand outlook ** Immunomedics Inc IMMU.O: up 0.8% BUZZ-Guggenheim picks Pfizer, Merck, Lilly among likely buyers ** Barnwell Industries Inc BRN.A: up 96.3% BUZZ-Soars as quarterly loss narrows ** Beyond Meat BYND.O: down 3.5% BUZZ-Down after Starbucks picks Impossible Foods for summer menu ** American Airlines AAL.O: down 7.3% BUZZ-Descends after $2 bln haul from upsized stock, convertible deals ** FedEx Corp FDX.N: up 0.9% BUZZ-BMO Capital expects Q4 to mark cyclical bottom for FedEx; raises PT ** Inovio Pharmaceuticals INO.O: up 21.4% BUZZ-Rises on $71 mln U.S. DoD grant for COVID-19 vaccine device ** China Automotive Systems CAAS.O: up 0.6% BUZZ-Rises on Q1 revenue beat ** Floor & Decor FND.N: up 2.2% BUZZ-Berenberg initiates with 'buy', cites co as compelling investment ** Luckin Coffee LK.O: down 17.0% BUZZ-Falls as coffee chain gets another de-listing notice ** Myovant Sciences MYOV.N: up 10.2% BUZZ-Up on positive data for endometriosis treatment ** Grocery Outlet GO.O: up 8.9% BUZZ-Jumps as set to join S&P MidCap 400 ** Sunesis Pharma SNSS.O: down 40.5% BUZZ-Plunges on stopping lead cancer drug development ** World Wrestling Entertainment Inc WWE.N: up 0.6% BUZZ-Needham raises PT as lockdown couch potatoes push viewership ** Broadway Financial BYFC.O: down 16.5% BUZZ-Key investor dissolves stake ** Air Products & Chemicals APD.N: up 0.9% BUZZ-Margins, growth to drive PT higher ** Canadian Solar CSIQ.O: up 4.3% BUZZ-Rises on two power purchase deals in Brazil ** Ideanomics IDEX.O: down 5.3% BUZZ-Falls on plans of up to $250 mln mixed-shelf offering ** Palatin Technologies PTN.A: up 21.9% BUZZ-Jumps as drugmaker says developing potential COVID-19 treatment ** Workhorse Group Inc WKHS.O: up 18.0% BUZZ-Gallops to over 3-yr high as its delivery vans clear safety tests ** CorEnergy Infrastructure CORR.N: down 10.1% BUZZ-Falls on prelim. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's three major indexes rose on Tuesday as improving economic data and the prospect of more stimulus bolstered hopes of a swift recovery, while a jump in technology shares powered the Nasdaq to another record high. .N At 11:30 ET, the Dow Jones Industrial Average .DJI was up 0.92% at 26,265.41.
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6e89eaa5-b3e7-4e34-8ef3-66a77f74d009
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5632.0
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2020-06-23 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Yeti Holdings, Aurora Cannabis, Visa Inc
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AAL
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-yeti-holdings-aurora-cannabis-visa-inc-2020-06-23
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nan
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nan
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Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's three major indexes rose on Tuesday as improving economic data and the prospect of more stimulus bolstered hopes of a swift recovery, while a jump in technology shares powered the Nasdaq to another record high. .N
At 13:30 ET, the Dow Jones Industrial Average .DJI was up 1.04% at 26,294.56. The S&P 500 .SPX was up 1.04% at 3,150.35 and the Nasdaq Composite .IXIC was up 1.54% at 10,211.606. The top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries Inc , up 10% ** Sysco Corp , up 6.1% ** Darden Restaurants Inc , up 4.9% The top three S&P 500 .PL.INX percentage losers: ** American Airlines Group , down 7.1% ** United Airlines Holding , down 3.5% ** L3harris Tchnologies Inc , down 2.3% The top three NYSE .PG.N percentage gainers: ** China Rapid Finance , up 43.3% ** Caledonia Mining Corp , up 30.6% ** Dynagas LNG Partners , up 20% The top three NYSE .PL.N percentage losers: ** Spirit Aerosystems Holding , down 14.1% ** American Shared Hospital Services , down 13.7% ** Milestone Scientific Inc , down 11.6% The top three Nasdaq .PG.O percentage gainers: ** Fuwei Films Holding , up 41.2% ** Translte Bio Inc , up 36.2% ** Cyclern Therapeutics , up 35.8% The top three Nasdaq .PL.O percentage losers: ** Kirklands Inc , down 25.9% ** Nemaura Medical , down 21.7% ** 9F Inc , down 18.4% ** Nike NKE.N: up 2.6%
BUZZ-More PT raises ahead of results ** Recon Tech RCON.O: up 1.6%
BUZZ-Up on MoU with Chinese water purification firm ** W&T Offshore WTI.N: up 1.8%
BUZZ-Rises as Q1 profit beats on higher production ** ON Semiconductor ON.O: up 3.8%
BUZZ-Piper Sandler sees significant recovery in 2021, upgrades ** Apple Inc AAPL.O: up 3.3%
BUZZ-Apple: Up as brokerages raise iPhone shipment estimates, PT ** Translate Bio TBIO.O: up 36.2%
BUZZ-Eyes record open on vaccine expansion deal with Sanofi ** Fuwei Films FFHL.O: up 41.2%
BUZZ-Surges as co swings to Q1 profit ** Spirit Aerosystems SPR.N: down 14.2%
BUZZ-Falls as Berenberg downgrades on Boeing's lower demand outlook ** Immunomedics Inc IMMU.O: up 1.1%
BUZZ-Guggenheim picks Pfizer, Merck, Lilly among likely buyers ** Barnwell Industries Inc BRN.A: up 70.0%
BUZZ-Soars as quarterly loss narrows ** Beyond Meat BYND.O: down 3.5%
BUZZ-Down after Starbucks picks Impossible Foods for summer menu ** American Airlines AAL.O: down 7.1%
BUZZ-Descends after $2 bln haul from upsized stock, convertible deals ** FedEx Corp FDX.N: up 1.3%
BUZZ-BMO Capital expects Q4 to mark cyclical bottom for FedEx; raises PT ** Inovio Pharmaceuticals INO.O: up 34.8%
BUZZ-Rises on $71 mln U.S. DoD grant for COVID-19 vaccine device ** Floor & Decor FND.N: up 2.2%
BUZZ-Berenberg initiates with 'buy', cites co as compelling investment ** Luckin Coffee LK.O: down 15.4%
BUZZ-Falls as coffee chain gets another de-listing notice ** Myovant Sciences MYOV.N: up 11.1%
BUZZ-Up on positive data for endometriosis treatment ** Grocery Outlet GO.O: up 8.8%
BUZZ-Jumps as set to join S&P MidCap 400 ** Sherwin-Williams SHW.N: up 0.2%
BUZZ-Brokerages raise PT after sales forecast hike ** Sunesis Pharma SNSS.O: down 39.7%
BUZZ-Plunges on stopping lead cancer drug development ** World Wrestling Entertainment Inc WWE.N: up 0.9%
BUZZ-Needham raises PT as lockdown couch potatoes push viewership ** Broadway Financial BYFC.O: down 17.3%
BUZZ-Key investor dissolves stake ** Air Products & Chemicals APD.N: up 1.4%
BUZZ-Margins, growth to drive PT higher ** Canadian Solar CSIQ.O: up 4.1%
BUZZ-Rises on two power purchase deals in Brazil ** Ideanomics IDEX.O: down 11.4%
BUZZ-Falls on plans of up to $250 mln mixed-shelf offering ** PG&E Corp PCG.N: up 0.1%
BUZZ-Lifts as co launches $5-bln-plus equity raise to fund bankruptcy emergence ** Palatin Technologies PTN.A: up 25.1%
BUZZ-Jumps as drugmaker says developing potential COVID-19 treatment ** Workhorse Group Inc WKHS.O: up 19.8%
BUZZ-Gallops to over 3-yr high as its delivery vans clear safety tests ** CorEnergy Infrastructure CORR.N: down 11.6%
BUZZ-Falls on prelim. Q1 loss, flags charge in Q2 ** Aurora Cannabis ACB.N: up 1.2%
BUZZ-Rises after announcing job cuts, restructuring ** IHS Markit INFO.N: up 0.3%
BUZZ-Up on Q2 profit beat ** Altice USA ATUS.N: up 1.6%
BUZZ-Rises as Altice Europe disconnects ** Yeti Holdings YETI.N: up 8.3%
BUZZ-Yeti Holdings: Piper Sandler raises PT citing strong demand for co's outdoor products ** Visa Inc V.N: up 2.5%
BUZZ-U.S. payment processors: Oppenheimer picks Visa over Mastercard
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 1.48%
Consumer Discretionary
.SPLRCD
up 1.49%
Consumer Staples
.SPLRCS
up 0.61%
Energy
.SPNY
up 1.02%
Financial
.SPSY
up 0.89%
Health
.SPXHC
up 1.02%
Industrial
.SPLRCI
up 0.45%
Information Technology
.SPLRCT
up 1.73%
Materials
.SPLRCM
up 1.00%
Real Estate
.SPLRCR
down 0.19%
Utilities
.SPLRCU
down 0.84%
(Compiled by Shivani Kumaresan in Bengaluru)
((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries Inc , up 10% ** Sysco Corp , up 6.1% ** Darden Restaurants Inc , up 4.9% The top three S&P 500 .PL.INX percentage losers: ** American Airlines Group , down 7.1% ** United Airlines Holding , down 3.5% ** L3harris Tchnologies Inc , down 2.3% The top three NYSE .PG.N percentage gainers: ** China Rapid Finance , up 43.3% ** Caledonia Mining Corp , up 30.6% ** Dynagas LNG Partners , up 20% The top three NYSE .PL.N percentage losers: ** Spirit Aerosystems Holding , down 14.1% ** American Shared Hospital Services , down 13.7% ** Milestone Scientific Inc , down 11.6% The top three Nasdaq .PG.O percentage gainers: ** Fuwei Films Holding , up 41.2% ** Translte Bio Inc , up 36.2% ** Cyclern Therapeutics , up 35.8% The top three Nasdaq .PL.O percentage losers: ** Kirklands Inc , down 25.9% ** Nemaura Medical , down 21.7% ** 9F Inc , down 18.4% ** Nike NKE.N: up 2.6% BUZZ-More PT raises ahead of results ** Recon Tech RCON.O: up 1.6% BUZZ-Up on MoU with Chinese water purification firm ** W&T Offshore WTI.N: up 1.8% BUZZ-Rises as Q1 profit beats on higher production ** ON Semiconductor ON.O: up 3.8% BUZZ-Piper Sandler sees significant recovery in 2021, upgrades ** Apple Inc AAPL.O: up 3.3% BUZZ-Apple: Up as brokerages raise iPhone shipment estimates, PT ** Translate Bio TBIO.O: up 36.2% BUZZ-Eyes record open on vaccine expansion deal with Sanofi ** Fuwei Films FFHL.O: up 41.2% BUZZ-Surges as co swings to Q1 profit ** Spirit Aerosystems SPR.N: down 14.2% BUZZ-Falls as Berenberg downgrades on Boeing's lower demand outlook ** Immunomedics Inc IMMU.O: up 1.1% BUZZ-Guggenheim picks Pfizer, Merck, Lilly among likely buyers ** Barnwell Industries Inc BRN.A: up 70.0% BUZZ-Soars as quarterly loss narrows ** Beyond Meat BYND.O: down 3.5% BUZZ-Down after Starbucks picks Impossible Foods for summer menu ** American Airlines AAL.O: down 7.1% BUZZ-Descends after $2 bln haul from upsized stock, convertible deals ** FedEx Corp FDX.N: up 1.3% BUZZ-BMO Capital expects Q4 to mark cyclical bottom for FedEx; raises PT ** Inovio Pharmaceuticals INO.O: up 34.8% BUZZ-Rises on $71 mln U.S. DoD grant for COVID-19 vaccine device ** Floor & Decor FND.N: up 2.2% BUZZ-Berenberg initiates with 'buy', cites co as compelling investment ** Luckin Coffee LK.O: down 15.4% BUZZ-Falls as coffee chain gets another de-listing notice ** Myovant Sciences MYOV.N: up 11.1% BUZZ-Up on positive data for endometriosis treatment ** Grocery Outlet GO.O: up 8.8% BUZZ-Jumps as set to join S&P MidCap 400 ** Sherwin-Williams SHW.N: up 0.2% BUZZ-Brokerages raise PT after sales forecast hike ** Sunesis Pharma SNSS.O: down 39.7% BUZZ-Plunges on stopping lead cancer drug development ** World Wrestling Entertainment Inc WWE.N: up 0.9% BUZZ-Needham raises PT as lockdown couch potatoes push viewership ** Broadway Financial BYFC.O: down 17.3% BUZZ-Key investor dissolves stake ** Air Products & Chemicals APD.N: up 1.4% BUZZ-Margins, growth to drive PT higher ** Canadian Solar CSIQ.O: up 4.1% BUZZ-Rises on two power purchase deals in Brazil ** Ideanomics IDEX.O: down 11.4% BUZZ-Falls on plans of up to $250 mln mixed-shelf offering ** PG&E Corp PCG.N: up 0.1% BUZZ-Lifts as co launches $5-bln-plus equity raise to fund bankruptcy emergence ** Palatin Technologies PTN.A: up 25.1% BUZZ-Jumps as drugmaker says developing potential COVID-19 treatment ** Workhorse Group Inc WKHS.O: up 19.8% BUZZ-Gallops to over 3-yr high as its delivery vans clear safety tests ** CorEnergy Infrastructure CORR.N: down 11.6% BUZZ-Falls on prelim. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's three major indexes rose on Tuesday as improving economic data and the prospect of more stimulus bolstered hopes of a swift recovery, while a jump in technology shares powered the Nasdaq to another record high. Q1 loss, flags charge in Q2 ** Aurora Cannabis ACB.N: up 1.2% BUZZ-Rises after announcing job cuts, restructuring ** IHS Markit INFO.N: up 0.3% BUZZ-Up on Q2 profit beat ** Altice USA ATUS.N: up 1.6% BUZZ-Rises as Altice Europe disconnects ** Yeti Holdings YETI.N: up 8.3% BUZZ-Yeti Holdings: Piper Sandler raises PT citing strong demand for co's outdoor products ** Visa Inc V.N: up 2.5% BUZZ-U.S. payment processors: Oppenheimer picks Visa over Mastercard The 11 major S&P 500 sectors: Communication Services
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The top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries Inc , up 10% ** Sysco Corp , up 6.1% ** Darden Restaurants Inc , up 4.9% The top three S&P 500 .PL.INX percentage losers: ** American Airlines Group , down 7.1% ** United Airlines Holding , down 3.5% ** L3harris Tchnologies Inc , down 2.3% The top three NYSE .PG.N percentage gainers: ** China Rapid Finance , up 43.3% ** Caledonia Mining Corp , up 30.6% ** Dynagas LNG Partners , up 20% The top three NYSE .PL.N percentage losers: ** Spirit Aerosystems Holding , down 14.1% ** American Shared Hospital Services , down 13.7% ** Milestone Scientific Inc , down 11.6% The top three Nasdaq .PG.O percentage gainers: ** Fuwei Films Holding , up 41.2% ** Translte Bio Inc , up 36.2% ** Cyclern Therapeutics , up 35.8% The top three Nasdaq .PL.O percentage losers: ** Kirklands Inc , down 25.9% ** Nemaura Medical , down 21.7% ** 9F Inc , down 18.4% ** Nike NKE.N: up 2.6% BUZZ-More PT raises ahead of results ** Recon Tech RCON.O: up 1.6% BUZZ-Up on MoU with Chinese water purification firm ** W&T Offshore WTI.N: up 1.8% BUZZ-Rises as Q1 profit beats on higher production ** ON Semiconductor ON.O: up 3.8% BUZZ-Piper Sandler sees significant recovery in 2021, upgrades ** Apple Inc AAPL.O: up 3.3% BUZZ-Apple: Up as brokerages raise iPhone shipment estimates, PT ** Translate Bio TBIO.O: up 36.2% BUZZ-Eyes record open on vaccine expansion deal with Sanofi ** Fuwei Films FFHL.O: up 41.2% BUZZ-Surges as co swings to Q1 profit ** Spirit Aerosystems SPR.N: down 14.2% BUZZ-Falls as Berenberg downgrades on Boeing's lower demand outlook ** Immunomedics Inc IMMU.O: up 1.1% BUZZ-Guggenheim picks Pfizer, Merck, Lilly among likely buyers ** Barnwell Industries Inc BRN.A: up 70.0% BUZZ-Soars as quarterly loss narrows ** Beyond Meat BYND.O: down 3.5% BUZZ-Down after Starbucks picks Impossible Foods for summer menu ** American Airlines AAL.O: down 7.1% BUZZ-Descends after $2 bln haul from upsized stock, convertible deals ** FedEx Corp FDX.N: up 1.3% BUZZ-BMO Capital expects Q4 to mark cyclical bottom for FedEx; raises PT ** Inovio Pharmaceuticals INO.O: up 34.8% BUZZ-Rises on $71 mln U.S. DoD grant for COVID-19 vaccine device ** Floor & Decor FND.N: up 2.2% BUZZ-Berenberg initiates with 'buy', cites co as compelling investment ** Luckin Coffee LK.O: down 15.4% BUZZ-Falls as coffee chain gets another de-listing notice ** Myovant Sciences MYOV.N: up 11.1% BUZZ-Up on positive data for endometriosis treatment ** Grocery Outlet GO.O: up 8.8% BUZZ-Jumps as set to join S&P MidCap 400 ** Sherwin-Williams SHW.N: up 0.2% BUZZ-Brokerages raise PT after sales forecast hike ** Sunesis Pharma SNSS.O: down 39.7% BUZZ-Plunges on stopping lead cancer drug development ** World Wrestling Entertainment Inc WWE.N: up 0.9% BUZZ-Needham raises PT as lockdown couch potatoes push viewership ** Broadway Financial BYFC.O: down 17.3% BUZZ-Key investor dissolves stake ** Air Products & Chemicals APD.N: up 1.4% BUZZ-Margins, growth to drive PT higher ** Canadian Solar CSIQ.O: up 4.1% BUZZ-Rises on two power purchase deals in Brazil ** Ideanomics IDEX.O: down 11.4% BUZZ-Falls on plans of up to $250 mln mixed-shelf offering ** PG&E Corp PCG.N: up 0.1% BUZZ-Lifts as co launches $5-bln-plus equity raise to fund bankruptcy emergence ** Palatin Technologies PTN.A: up 25.1% BUZZ-Jumps as drugmaker says developing potential COVID-19 treatment ** Workhorse Group Inc WKHS.O: up 19.8% BUZZ-Gallops to over 3-yr high as its delivery vans clear safety tests ** CorEnergy Infrastructure CORR.N: down 11.6% BUZZ-Falls on prelim. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's three major indexes rose on Tuesday as improving economic data and the prospect of more stimulus bolstered hopes of a swift recovery, while a jump in technology shares powered the Nasdaq to another record high. Q1 loss, flags charge in Q2 ** Aurora Cannabis ACB.N: up 1.2% BUZZ-Rises after announcing job cuts, restructuring ** IHS Markit INFO.N: up 0.3% BUZZ-Up on Q2 profit beat ** Altice USA ATUS.N: up 1.6% BUZZ-Rises as Altice Europe disconnects ** Yeti Holdings YETI.N: up 8.3% BUZZ-Yeti Holdings: Piper Sandler raises PT citing strong demand for co's outdoor products ** Visa Inc V.N: up 2.5% BUZZ-U.S. payment processors: Oppenheimer picks Visa over Mastercard The 11 major S&P 500 sectors: Communication Services
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The top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries Inc , up 10% ** Sysco Corp , up 6.1% ** Darden Restaurants Inc , up 4.9% The top three S&P 500 .PL.INX percentage losers: ** American Airlines Group , down 7.1% ** United Airlines Holding , down 3.5% ** L3harris Tchnologies Inc , down 2.3% The top three NYSE .PG.N percentage gainers: ** China Rapid Finance , up 43.3% ** Caledonia Mining Corp , up 30.6% ** Dynagas LNG Partners , up 20% The top three NYSE .PL.N percentage losers: ** Spirit Aerosystems Holding , down 14.1% ** American Shared Hospital Services , down 13.7% ** Milestone Scientific Inc , down 11.6% The top three Nasdaq .PG.O percentage gainers: ** Fuwei Films Holding , up 41.2% ** Translte Bio Inc , up 36.2% ** Cyclern Therapeutics , up 35.8% The top three Nasdaq .PL.O percentage losers: ** Kirklands Inc , down 25.9% ** Nemaura Medical , down 21.7% ** 9F Inc , down 18.4% ** Nike NKE.N: up 2.6% BUZZ-More PT raises ahead of results ** Recon Tech RCON.O: up 1.6% BUZZ-Up on MoU with Chinese water purification firm ** W&T Offshore WTI.N: up 1.8% BUZZ-Rises as Q1 profit beats on higher production ** ON Semiconductor ON.O: up 3.8% BUZZ-Piper Sandler sees significant recovery in 2021, upgrades ** Apple Inc AAPL.O: up 3.3% BUZZ-Apple: Up as brokerages raise iPhone shipment estimates, PT ** Translate Bio TBIO.O: up 36.2% BUZZ-Eyes record open on vaccine expansion deal with Sanofi ** Fuwei Films FFHL.O: up 41.2% BUZZ-Surges as co swings to Q1 profit ** Spirit Aerosystems SPR.N: down 14.2% BUZZ-Falls as Berenberg downgrades on Boeing's lower demand outlook ** Immunomedics Inc IMMU.O: up 1.1% BUZZ-Guggenheim picks Pfizer, Merck, Lilly among likely buyers ** Barnwell Industries Inc BRN.A: up 70.0% BUZZ-Soars as quarterly loss narrows ** Beyond Meat BYND.O: down 3.5% BUZZ-Down after Starbucks picks Impossible Foods for summer menu ** American Airlines AAL.O: down 7.1% BUZZ-Descends after $2 bln haul from upsized stock, convertible deals ** FedEx Corp FDX.N: up 1.3% BUZZ-BMO Capital expects Q4 to mark cyclical bottom for FedEx; raises PT ** Inovio Pharmaceuticals INO.O: up 34.8% BUZZ-Rises on $71 mln U.S. DoD grant for COVID-19 vaccine device ** Floor & Decor FND.N: up 2.2% BUZZ-Berenberg initiates with 'buy', cites co as compelling investment ** Luckin Coffee LK.O: down 15.4% BUZZ-Falls as coffee chain gets another de-listing notice ** Myovant Sciences MYOV.N: up 11.1% BUZZ-Up on positive data for endometriosis treatment ** Grocery Outlet GO.O: up 8.8% BUZZ-Jumps as set to join S&P MidCap 400 ** Sherwin-Williams SHW.N: up 0.2% BUZZ-Brokerages raise PT after sales forecast hike ** Sunesis Pharma SNSS.O: down 39.7% BUZZ-Plunges on stopping lead cancer drug development ** World Wrestling Entertainment Inc WWE.N: up 0.9% BUZZ-Needham raises PT as lockdown couch potatoes push viewership ** Broadway Financial BYFC.O: down 17.3% BUZZ-Key investor dissolves stake ** Air Products & Chemicals APD.N: up 1.4% BUZZ-Margins, growth to drive PT higher ** Canadian Solar CSIQ.O: up 4.1% BUZZ-Rises on two power purchase deals in Brazil ** Ideanomics IDEX.O: down 11.4% BUZZ-Falls on plans of up to $250 mln mixed-shelf offering ** PG&E Corp PCG.N: up 0.1% BUZZ-Lifts as co launches $5-bln-plus equity raise to fund bankruptcy emergence ** Palatin Technologies PTN.A: up 25.1% BUZZ-Jumps as drugmaker says developing potential COVID-19 treatment ** Workhorse Group Inc WKHS.O: up 19.8% BUZZ-Gallops to over 3-yr high as its delivery vans clear safety tests ** CorEnergy Infrastructure CORR.N: down 11.6% BUZZ-Falls on prelim. up 1.48% Consumer Discretionary up 1.49% Consumer Staples
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The top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries Inc , up 10% ** Sysco Corp , up 6.1% ** Darden Restaurants Inc , up 4.9% The top three S&P 500 .PL.INX percentage losers: ** American Airlines Group , down 7.1% ** United Airlines Holding , down 3.5% ** L3harris Tchnologies Inc , down 2.3% The top three NYSE .PG.N percentage gainers: ** China Rapid Finance , up 43.3% ** Caledonia Mining Corp , up 30.6% ** Dynagas LNG Partners , up 20% The top three NYSE .PL.N percentage losers: ** Spirit Aerosystems Holding , down 14.1% ** American Shared Hospital Services , down 13.7% ** Milestone Scientific Inc , down 11.6% The top three Nasdaq .PG.O percentage gainers: ** Fuwei Films Holding , up 41.2% ** Translte Bio Inc , up 36.2% ** Cyclern Therapeutics , up 35.8% The top three Nasdaq .PL.O percentage losers: ** Kirklands Inc , down 25.9% ** Nemaura Medical , down 21.7% ** 9F Inc , down 18.4% ** Nike NKE.N: up 2.6% BUZZ-More PT raises ahead of results ** Recon Tech RCON.O: up 1.6% BUZZ-Up on MoU with Chinese water purification firm ** W&T Offshore WTI.N: up 1.8% BUZZ-Rises as Q1 profit beats on higher production ** ON Semiconductor ON.O: up 3.8% BUZZ-Piper Sandler sees significant recovery in 2021, upgrades ** Apple Inc AAPL.O: up 3.3% BUZZ-Apple: Up as brokerages raise iPhone shipment estimates, PT ** Translate Bio TBIO.O: up 36.2% BUZZ-Eyes record open on vaccine expansion deal with Sanofi ** Fuwei Films FFHL.O: up 41.2% BUZZ-Surges as co swings to Q1 profit ** Spirit Aerosystems SPR.N: down 14.2% BUZZ-Falls as Berenberg downgrades on Boeing's lower demand outlook ** Immunomedics Inc IMMU.O: up 1.1% BUZZ-Guggenheim picks Pfizer, Merck, Lilly among likely buyers ** Barnwell Industries Inc BRN.A: up 70.0% BUZZ-Soars as quarterly loss narrows ** Beyond Meat BYND.O: down 3.5% BUZZ-Down after Starbucks picks Impossible Foods for summer menu ** American Airlines AAL.O: down 7.1% BUZZ-Descends after $2 bln haul from upsized stock, convertible deals ** FedEx Corp FDX.N: up 1.3% BUZZ-BMO Capital expects Q4 to mark cyclical bottom for FedEx; raises PT ** Inovio Pharmaceuticals INO.O: up 34.8% BUZZ-Rises on $71 mln U.S. DoD grant for COVID-19 vaccine device ** Floor & Decor FND.N: up 2.2% BUZZ-Berenberg initiates with 'buy', cites co as compelling investment ** Luckin Coffee LK.O: down 15.4% BUZZ-Falls as coffee chain gets another de-listing notice ** Myovant Sciences MYOV.N: up 11.1% BUZZ-Up on positive data for endometriosis treatment ** Grocery Outlet GO.O: up 8.8% BUZZ-Jumps as set to join S&P MidCap 400 ** Sherwin-Williams SHW.N: up 0.2% BUZZ-Brokerages raise PT after sales forecast hike ** Sunesis Pharma SNSS.O: down 39.7% BUZZ-Plunges on stopping lead cancer drug development ** World Wrestling Entertainment Inc WWE.N: up 0.9% BUZZ-Needham raises PT as lockdown couch potatoes push viewership ** Broadway Financial BYFC.O: down 17.3% BUZZ-Key investor dissolves stake ** Air Products & Chemicals APD.N: up 1.4% BUZZ-Margins, growth to drive PT higher ** Canadian Solar CSIQ.O: up 4.1% BUZZ-Rises on two power purchase deals in Brazil ** Ideanomics IDEX.O: down 11.4% BUZZ-Falls on plans of up to $250 mln mixed-shelf offering ** PG&E Corp PCG.N: up 0.1% BUZZ-Lifts as co launches $5-bln-plus equity raise to fund bankruptcy emergence ** Palatin Technologies PTN.A: up 25.1% BUZZ-Jumps as drugmaker says developing potential COVID-19 treatment ** Workhorse Group Inc WKHS.O: up 19.8% BUZZ-Gallops to over 3-yr high as its delivery vans clear safety tests ** CorEnergy Infrastructure CORR.N: down 11.6% BUZZ-Falls on prelim. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's three major indexes rose on Tuesday as improving economic data and the prospect of more stimulus bolstered hopes of a swift recovery, while a jump in technology shares powered the Nasdaq to another record high. .N At 13:30 ET, the Dow Jones Industrial Average .DJI was up 1.04% at 26,294.56.
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a8b3c0bb-4e43-40a2-a3a5-b46e805767d5
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5633.0
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2020-06-23 00:00:00 UTC
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American Airlines Prices Common Stock, Convertible Notes Offerings
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AAL
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https://www.nasdaq.com/articles/american-airlines-prices-common-stock-convertible-notes-offerings-2020-06-23
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nan
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nan
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(RTTNews) - American Airlines Group Inc. (AAL) has priced its underwritten public offering of 74.1 million shares of its common stock, or approximately $1 billion of shares of its common stock, at a public offering price of $13.50 per share and its underwritten public offering of $1 billion aggregate principal amount of 6.50% convertible senior notes due 2025. The size of the common stock offering was increased from the previously announced $750 million of shares of common stock and the aggregate principal amount of the Convertible Notes Offering was increased from the previously announced $750 million.
The aggregate net proceeds to the company, after deducting underwriting discounts and other offering expenses, are expected to be approximately $1.936 billion. American Airlines Group expects to use the net proceeds for general corporate purposes and to enhance the liquidity position. Both of the common stock offering and the convertible notes offering are expected to close on June 25, 2020.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - American Airlines Group Inc. (AAL) has priced its underwritten public offering of 74.1 million shares of its common stock, or approximately $1 billion of shares of its common stock, at a public offering price of $13.50 per share and its underwritten public offering of $1 billion aggregate principal amount of 6.50% convertible senior notes due 2025. The size of the common stock offering was increased from the previously announced $750 million of shares of common stock and the aggregate principal amount of the Convertible Notes Offering was increased from the previously announced $750 million. The aggregate net proceeds to the company, after deducting underwriting discounts and other offering expenses, are expected to be approximately $1.936 billion.
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(RTTNews) - American Airlines Group Inc. (AAL) has priced its underwritten public offering of 74.1 million shares of its common stock, or approximately $1 billion of shares of its common stock, at a public offering price of $13.50 per share and its underwritten public offering of $1 billion aggregate principal amount of 6.50% convertible senior notes due 2025. The size of the common stock offering was increased from the previously announced $750 million of shares of common stock and the aggregate principal amount of the Convertible Notes Offering was increased from the previously announced $750 million. Both of the common stock offering and the convertible notes offering are expected to close on June 25, 2020.
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(RTTNews) - American Airlines Group Inc. (AAL) has priced its underwritten public offering of 74.1 million shares of its common stock, or approximately $1 billion of shares of its common stock, at a public offering price of $13.50 per share and its underwritten public offering of $1 billion aggregate principal amount of 6.50% convertible senior notes due 2025. The size of the common stock offering was increased from the previously announced $750 million of shares of common stock and the aggregate principal amount of the Convertible Notes Offering was increased from the previously announced $750 million. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - American Airlines Group Inc. (AAL) has priced its underwritten public offering of 74.1 million shares of its common stock, or approximately $1 billion of shares of its common stock, at a public offering price of $13.50 per share and its underwritten public offering of $1 billion aggregate principal amount of 6.50% convertible senior notes due 2025. The size of the common stock offering was increased from the previously announced $750 million of shares of common stock and the aggregate principal amount of the Convertible Notes Offering was increased from the previously announced $750 million. The aggregate net proceeds to the company, after deducting underwriting discounts and other offering expenses, are expected to be approximately $1.936 billion.
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d3ae439c-4c73-4409-8b37-82bbf7beb88c
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5634.0
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2020-06-23 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Sunesis Pharma, Grocery Outlet, Myovant Sciences
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AAL
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-sunesis-pharma-grocery-outlet-myovant-sciences-2020-06-23
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nan
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nan
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Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's main indexes opened higher and the Nasdaq hit a record high on Tuesday as investors took heart from reassurances that the trade deal with China was intact, while upbeat business activity data from Europe boded well for U.S. surveys due later. .N
At 9:30 a.m. ET, the Dow Jones Industrial Average .DJI was up 0.77% at 26,225.87. The S&P 500 .SPX was up 0.73% at 3,140.51 and the Nasdaq Composite .IXIC was up 0.64% at 10,121.171. The top three S&P 500 .PG.INX percentage gainers: ** Sysco Corp , up 6.5% ** Mohawk Industries Inc , up 5.2% ** Quanta Services Inc , up 3.2% The top three S&P 500 .PL.INX percentage losers: ** American Airlines Group , down 6.4% ** Cboe Global Markets Inc , down 2.4% ** Micron Technology Inc , down 2.5% The top three NYSE .PG.N percentage gainers: ** Barnwell Industries Inc , up 164.4% ** Performance Food Group , up 10.7% ** Aegon N.V. , up 10.5% The top three NYSE .PL.N percentage losers: ** American Shared Hospital Services , down 9% ** Spirit Aerosystems Holding , down 8.3% ** Metalla Royalty & Streaming Ltd , down 7.7% The top three Nasdaq .PG.O percentage gainers: ** Translte Bio Inc , up 51.5% ** Urban One Inc , up 36.8% ** Fuwei Films Holding , up 27.9% The top three Nasdaq .PL.O percentage losers: ** Kirklands Inc , down 20.3% ** Luckin Coffee Inc , down 15.1% ** Precigen Inc , down 12.5% ** W&T Offshore WTI.N: up 2.0%
BUZZ-Rises as Q1 profit beats on higher production ** ON Semiconductor ON.O: up 3.2%
BUZZ-Piper Sandler sees significant recovery in 2021, upgrades ** Apple Inc AAPL.O: up 1.3%
BUZZ-UBS raises estimate for iPhone shipments, hikes PT ** Translate Bio TBIO.O: up 51.5%
BUZZ-Eyes record open on vaccine expansion deal with Sanofi ** miRagen MGEN.O: up 7.7%
BUZZ-Rises on positive data for lung disease treatment ** Fuwei Films FFHL.O: up 27.9%
BUZZ-Surges as co swings to Q1 profit ** Spirit Aerosystems SPR.N: down 8.2%
BUZZ-Falls as Berenberg downgrades on Boeing's lower demand outlook ** Immunomedics Inc IMMU.O: up 1.5%
BUZZ-Guggenheim picks Pfizer, Merck, Lilly among likely buyers ** Barnwell Industries Inc BRN.A: up 152.7%
BUZZ-Soars as quarterly loss narrows ** Beyond Meat BYND.O: down 0.5%
BUZZ-Down after Starbucks picks Impossible Foods for summer menu ** American Airlines AAL.O: down 6.4%
BUZZ-Descends after $2 bln haul from upsized stock, convertible deals ** FedEx Corp FDX.N: up 0.9%
BUZZ-BMO Capital expects Q4 to mark cyclical bottom for FedEx; raises PT ** Inovio Pharmaceuticals INO.O: up 6.9%
BUZZ-Rises on $71 mln U.S. DoD grant for COVID-19 vaccine device ** China Automotive Systems CAAS.O: up 4.5%
BUZZ-Rises on Q1 revenue beat ** Floor & Decor FND.N: up 1.5%
BUZZ-Berenberg initiates with 'buy', cites co as compelling investment ** Luckin Coffee LK.O: down 15.1%
BUZZ-Falls as coffee chain gets another de-listing notice ** Myovant Sciences MYOV.N: up 6.9%
BUZZ-Up on positive data for endometriosis treatment ** Grocery Outlet GO.O: up 7.1%
BUZZ-Jumps as set to join S&P MidCap 400 ** Sherwin-Williams SHW.N: up 0.7%
BUZZ-Brokerages raise PT after sales forecast hike ** Sunesis Pharma SNSS.O: down 43.1%
BUZZ-Plunges on stopping lead cancer drug development
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 0.29%
Consumer Discretionary
.SPLRCD
up 0.67%
Consumer Staples
.SPLRCS
up 0.72%
Energy
.SPNY
up 1.04%
Financial
.SPSY
up 1.38%
Health
.SPXHC
up 0.52%
Industrial
.SPLRCI
up 0.77%
Information Technology
.SPLRCT
up 0.69%
Materials
.SPLRCM
up 1.23%
Real Estate
.SPLRCR
up 0.66%
Utilities
.SPLRCU
up 0.93%
(Compiled by Shivani Kumaresan in Bengaluru)
((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Sysco Corp , up 6.5% ** Mohawk Industries Inc , up 5.2% ** Quanta Services Inc , up 3.2% The top three S&P 500 .PL.INX percentage losers: ** American Airlines Group , down 6.4% ** Cboe Global Markets Inc , down 2.4% ** Micron Technology Inc , down 2.5% The top three NYSE .PG.N percentage gainers: ** Barnwell Industries Inc , up 164.4% ** Performance Food Group , up 10.7% ** Aegon N.V. , up 10.5% The top three NYSE .PL.N percentage losers: ** American Shared Hospital Services , down 9% ** Spirit Aerosystems Holding , down 8.3% ** Metalla Royalty & Streaming Ltd , down 7.7% The top three Nasdaq .PG.O percentage gainers: ** Translte Bio Inc , up 51.5% ** Urban One Inc , up 36.8% ** Fuwei Films Holding , up 27.9% The top three Nasdaq .PL.O percentage losers: ** Kirklands Inc , down 20.3% ** Luckin Coffee Inc , down 15.1% ** Precigen Inc , down 12.5% ** W&T Offshore WTI.N: up 2.0% BUZZ-Rises as Q1 profit beats on higher production ** ON Semiconductor ON.O: up 3.2% BUZZ-Piper Sandler sees significant recovery in 2021, upgrades ** Apple Inc AAPL.O: up 1.3% BUZZ-UBS raises estimate for iPhone shipments, hikes PT ** Translate Bio TBIO.O: up 51.5% BUZZ-Eyes record open on vaccine expansion deal with Sanofi ** miRagen MGEN.O: up 7.7% BUZZ-Rises on positive data for lung disease treatment ** Fuwei Films FFHL.O: up 27.9% BUZZ-Surges as co swings to Q1 profit ** Spirit Aerosystems SPR.N: down 8.2% BUZZ-Falls as Berenberg downgrades on Boeing's lower demand outlook ** Immunomedics Inc IMMU.O: up 1.5% BUZZ-Guggenheim picks Pfizer, Merck, Lilly among likely buyers ** Barnwell Industries Inc BRN.A: up 152.7% BUZZ-Soars as quarterly loss narrows ** Beyond Meat BYND.O: down 0.5% BUZZ-Down after Starbucks picks Impossible Foods for summer menu ** American Airlines AAL.O: down 6.4% BUZZ-Descends after $2 bln haul from upsized stock, convertible deals ** FedEx Corp FDX.N: up 0.9% BUZZ-BMO Capital expects Q4 to mark cyclical bottom for FedEx; raises PT ** Inovio Pharmaceuticals INO.O: up 6.9% BUZZ-Rises on $71 mln U.S. DoD grant for COVID-19 vaccine device ** China Automotive Systems CAAS.O: up 4.5% BUZZ-Rises on Q1 revenue beat ** Floor & Decor FND.N: up 1.5% BUZZ-Berenberg initiates with 'buy', cites co as compelling investment ** Luckin Coffee LK.O: down 15.1% BUZZ-Falls as coffee chain gets another de-listing notice ** Myovant Sciences MYOV.N: up 6.9% BUZZ-Up on positive data for endometriosis treatment ** Grocery Outlet GO.O: up 7.1% BUZZ-Jumps as set to join S&P MidCap 400 ** Sherwin-Williams SHW.N: up 0.7% BUZZ-Brokerages raise PT after sales forecast hike ** Sunesis Pharma SNSS.O: down 43.1% BUZZ-Plunges on stopping lead cancer drug development The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes opened higher and the Nasdaq hit a record high on Tuesday as investors took heart from reassurances that the trade deal with China was intact, while upbeat business activity data from Europe boded well for U.S. surveys due later. up 0.93% (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Sysco Corp , up 6.5% ** Mohawk Industries Inc , up 5.2% ** Quanta Services Inc , up 3.2% The top three S&P 500 .PL.INX percentage losers: ** American Airlines Group , down 6.4% ** Cboe Global Markets Inc , down 2.4% ** Micron Technology Inc , down 2.5% The top three NYSE .PG.N percentage gainers: ** Barnwell Industries Inc , up 164.4% ** Performance Food Group , up 10.7% ** Aegon N.V. , up 10.5% The top three NYSE .PL.N percentage losers: ** American Shared Hospital Services , down 9% ** Spirit Aerosystems Holding , down 8.3% ** Metalla Royalty & Streaming Ltd , down 7.7% The top three Nasdaq .PG.O percentage gainers: ** Translte Bio Inc , up 51.5% ** Urban One Inc , up 36.8% ** Fuwei Films Holding , up 27.9% The top three Nasdaq .PL.O percentage losers: ** Kirklands Inc , down 20.3% ** Luckin Coffee Inc , down 15.1% ** Precigen Inc , down 12.5% ** W&T Offshore WTI.N: up 2.0% BUZZ-Rises as Q1 profit beats on higher production ** ON Semiconductor ON.O: up 3.2% BUZZ-Piper Sandler sees significant recovery in 2021, upgrades ** Apple Inc AAPL.O: up 1.3% BUZZ-UBS raises estimate for iPhone shipments, hikes PT ** Translate Bio TBIO.O: up 51.5% BUZZ-Eyes record open on vaccine expansion deal with Sanofi ** miRagen MGEN.O: up 7.7% BUZZ-Rises on positive data for lung disease treatment ** Fuwei Films FFHL.O: up 27.9% BUZZ-Surges as co swings to Q1 profit ** Spirit Aerosystems SPR.N: down 8.2% BUZZ-Falls as Berenberg downgrades on Boeing's lower demand outlook ** Immunomedics Inc IMMU.O: up 1.5% BUZZ-Guggenheim picks Pfizer, Merck, Lilly among likely buyers ** Barnwell Industries Inc BRN.A: up 152.7% BUZZ-Soars as quarterly loss narrows ** Beyond Meat BYND.O: down 0.5% BUZZ-Down after Starbucks picks Impossible Foods for summer menu ** American Airlines AAL.O: down 6.4% BUZZ-Descends after $2 bln haul from upsized stock, convertible deals ** FedEx Corp FDX.N: up 0.9% BUZZ-BMO Capital expects Q4 to mark cyclical bottom for FedEx; raises PT ** Inovio Pharmaceuticals INO.O: up 6.9% BUZZ-Rises on $71 mln U.S. DoD grant for COVID-19 vaccine device ** China Automotive Systems CAAS.O: up 4.5% BUZZ-Rises on Q1 revenue beat ** Floor & Decor FND.N: up 1.5% BUZZ-Berenberg initiates with 'buy', cites co as compelling investment ** Luckin Coffee LK.O: down 15.1% BUZZ-Falls as coffee chain gets another de-listing notice ** Myovant Sciences MYOV.N: up 6.9% BUZZ-Up on positive data for endometriosis treatment ** Grocery Outlet GO.O: up 7.1% BUZZ-Jumps as set to join S&P MidCap 400 ** Sherwin-Williams SHW.N: up 0.7% BUZZ-Brokerages raise PT after sales forecast hike ** Sunesis Pharma SNSS.O: down 43.1% BUZZ-Plunges on stopping lead cancer drug development The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes opened higher and the Nasdaq hit a record high on Tuesday as investors took heart from reassurances that the trade deal with China was intact, while upbeat business activity data from Europe boded well for U.S. surveys due later. up 0.93% (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Sysco Corp , up 6.5% ** Mohawk Industries Inc , up 5.2% ** Quanta Services Inc , up 3.2% The top three S&P 500 .PL.INX percentage losers: ** American Airlines Group , down 6.4% ** Cboe Global Markets Inc , down 2.4% ** Micron Technology Inc , down 2.5% The top three NYSE .PG.N percentage gainers: ** Barnwell Industries Inc , up 164.4% ** Performance Food Group , up 10.7% ** Aegon N.V. , up 10.5% The top three NYSE .PL.N percentage losers: ** American Shared Hospital Services , down 9% ** Spirit Aerosystems Holding , down 8.3% ** Metalla Royalty & Streaming Ltd , down 7.7% The top three Nasdaq .PG.O percentage gainers: ** Translte Bio Inc , up 51.5% ** Urban One Inc , up 36.8% ** Fuwei Films Holding , up 27.9% The top three Nasdaq .PL.O percentage losers: ** Kirklands Inc , down 20.3% ** Luckin Coffee Inc , down 15.1% ** Precigen Inc , down 12.5% ** W&T Offshore WTI.N: up 2.0% BUZZ-Rises as Q1 profit beats on higher production ** ON Semiconductor ON.O: up 3.2% BUZZ-Piper Sandler sees significant recovery in 2021, upgrades ** Apple Inc AAPL.O: up 1.3% BUZZ-UBS raises estimate for iPhone shipments, hikes PT ** Translate Bio TBIO.O: up 51.5% BUZZ-Eyes record open on vaccine expansion deal with Sanofi ** miRagen MGEN.O: up 7.7% BUZZ-Rises on positive data for lung disease treatment ** Fuwei Films FFHL.O: up 27.9% BUZZ-Surges as co swings to Q1 profit ** Spirit Aerosystems SPR.N: down 8.2% BUZZ-Falls as Berenberg downgrades on Boeing's lower demand outlook ** Immunomedics Inc IMMU.O: up 1.5% BUZZ-Guggenheim picks Pfizer, Merck, Lilly among likely buyers ** Barnwell Industries Inc BRN.A: up 152.7% BUZZ-Soars as quarterly loss narrows ** Beyond Meat BYND.O: down 0.5% BUZZ-Down after Starbucks picks Impossible Foods for summer menu ** American Airlines AAL.O: down 6.4% BUZZ-Descends after $2 bln haul from upsized stock, convertible deals ** FedEx Corp FDX.N: up 0.9% BUZZ-BMO Capital expects Q4 to mark cyclical bottom for FedEx; raises PT ** Inovio Pharmaceuticals INO.O: up 6.9% BUZZ-Rises on $71 mln U.S. DoD grant for COVID-19 vaccine device ** China Automotive Systems CAAS.O: up 4.5% BUZZ-Rises on Q1 revenue beat ** Floor & Decor FND.N: up 1.5% BUZZ-Berenberg initiates with 'buy', cites co as compelling investment ** Luckin Coffee LK.O: down 15.1% BUZZ-Falls as coffee chain gets another de-listing notice ** Myovant Sciences MYOV.N: up 6.9% BUZZ-Up on positive data for endometriosis treatment ** Grocery Outlet GO.O: up 7.1% BUZZ-Jumps as set to join S&P MidCap 400 ** Sherwin-Williams SHW.N: up 0.7% BUZZ-Brokerages raise PT after sales forecast hike ** Sunesis Pharma SNSS.O: down 43.1% BUZZ-Plunges on stopping lead cancer drug development The 11 major S&P 500 sectors: Communication Services up 0.29% Consumer Discretionary up 0.67% Consumer Staples
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The top three S&P 500 .PG.INX percentage gainers: ** Sysco Corp , up 6.5% ** Mohawk Industries Inc , up 5.2% ** Quanta Services Inc , up 3.2% The top three S&P 500 .PL.INX percentage losers: ** American Airlines Group , down 6.4% ** Cboe Global Markets Inc , down 2.4% ** Micron Technology Inc , down 2.5% The top three NYSE .PG.N percentage gainers: ** Barnwell Industries Inc , up 164.4% ** Performance Food Group , up 10.7% ** Aegon N.V. , up 10.5% The top three NYSE .PL.N percentage losers: ** American Shared Hospital Services , down 9% ** Spirit Aerosystems Holding , down 8.3% ** Metalla Royalty & Streaming Ltd , down 7.7% The top three Nasdaq .PG.O percentage gainers: ** Translte Bio Inc , up 51.5% ** Urban One Inc , up 36.8% ** Fuwei Films Holding , up 27.9% The top three Nasdaq .PL.O percentage losers: ** Kirklands Inc , down 20.3% ** Luckin Coffee Inc , down 15.1% ** Precigen Inc , down 12.5% ** W&T Offshore WTI.N: up 2.0% BUZZ-Rises as Q1 profit beats on higher production ** ON Semiconductor ON.O: up 3.2% BUZZ-Piper Sandler sees significant recovery in 2021, upgrades ** Apple Inc AAPL.O: up 1.3% BUZZ-UBS raises estimate for iPhone shipments, hikes PT ** Translate Bio TBIO.O: up 51.5% BUZZ-Eyes record open on vaccine expansion deal with Sanofi ** miRagen MGEN.O: up 7.7% BUZZ-Rises on positive data for lung disease treatment ** Fuwei Films FFHL.O: up 27.9% BUZZ-Surges as co swings to Q1 profit ** Spirit Aerosystems SPR.N: down 8.2% BUZZ-Falls as Berenberg downgrades on Boeing's lower demand outlook ** Immunomedics Inc IMMU.O: up 1.5% BUZZ-Guggenheim picks Pfizer, Merck, Lilly among likely buyers ** Barnwell Industries Inc BRN.A: up 152.7% BUZZ-Soars as quarterly loss narrows ** Beyond Meat BYND.O: down 0.5% BUZZ-Down after Starbucks picks Impossible Foods for summer menu ** American Airlines AAL.O: down 6.4% BUZZ-Descends after $2 bln haul from upsized stock, convertible deals ** FedEx Corp FDX.N: up 0.9% BUZZ-BMO Capital expects Q4 to mark cyclical bottom for FedEx; raises PT ** Inovio Pharmaceuticals INO.O: up 6.9% BUZZ-Rises on $71 mln U.S. DoD grant for COVID-19 vaccine device ** China Automotive Systems CAAS.O: up 4.5% BUZZ-Rises on Q1 revenue beat ** Floor & Decor FND.N: up 1.5% BUZZ-Berenberg initiates with 'buy', cites co as compelling investment ** Luckin Coffee LK.O: down 15.1% BUZZ-Falls as coffee chain gets another de-listing notice ** Myovant Sciences MYOV.N: up 6.9% BUZZ-Up on positive data for endometriosis treatment ** Grocery Outlet GO.O: up 7.1% BUZZ-Jumps as set to join S&P MidCap 400 ** Sherwin-Williams SHW.N: up 0.7% BUZZ-Brokerages raise PT after sales forecast hike ** Sunesis Pharma SNSS.O: down 43.1% BUZZ-Plunges on stopping lead cancer drug development The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes opened higher and the Nasdaq hit a record high on Tuesday as investors took heart from reassurances that the trade deal with China was intact, while upbeat business activity data from Europe boded well for U.S. surveys due later. The S&P 500 .SPX was up 0.73% at 3,140.51 and the Nasdaq Composite .IXIC was up 0.64% at 10,121.171.
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916d8808-ed6c-48c1-9da8-8790e28f7484
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5635.0
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2020-06-23 00:00:00 UTC
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Huge Debt Load Makes Buying American Airlines a Gamble
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AAL
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https://www.nasdaq.com/articles/huge-debt-load-makes-buying-american-airlines-a-gamble-2020-06-23
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
American Airlines (NASDAQ:AAL) is piling up debt. This could end up sinking AAL stock unless the company’s liquidity can carry it until free cash flow and operational breakeven occurs.
Source: GagliardiPhotography / Shutterstock.com
When that will be is anyone’s guess., but there is no question that investing in AAL stock is gamble until that occurs.
For example, on June 19 Bloomberg reported that American Airlines is negotiating to raise $2 billion in junk bonds. The talks are said to involve discussion of an 11% coupon rate. Moreover, the five-year secured note will not be redeemable.
That means that American Airlines will not be able to reduce this cost over the five years.
7 of the Best Penny Stocks to Buy Now
AAL seems to have enough collateral to cover the security for the note. However, the Bloomberg article pointed out that American Airlines is the most indebted airline in the U.S. Moreover, its existing debt is trading for 75% to 85% of par.
Would AAL Declare Bankruptcy?
One skeptical analyst pointed out on a YouTube video that those existing notes are now yielding 25%. He thinks that implies that investors in existing American Airlines’ notes expect the company to file bankruptcy. He believes AAL stock is worthless, especially since the company already has negative book value.
But others are not so sure. A senior Forbes contributor thinks all such talk is “nonsense.” For one, the company does not have any major debt maturities within the next two years. That is plenty of time for the company’s operations to reach breakeven or better.
Moreover, Barron’s published an article on June 17 referring to two positive Wall Street analysts’ reports on AAL stock. Both Seaport Global Securities and Cowen published reports saying that despite the debt buildup at American Airlines, the company will survive. In their views, the company will have enough cash and liquidity to avoid filing for Chapter 11 bankruptcy.
The Cowen analyst put a $20 target price on AAL stock. The other analyst has a $27 per share target. These represent potential gains of 25% and 69% respectively.
Rising Traffic Should Boost Airline Stocks
As readers of my articles on AAL stock are aware, the TSA traffic numbers on airport checkpoint visitors has been slowly rising. This week that trend continued again.
For example, as of June 18, the past seven days showed that average airport traffic at checkpoints was down to just 80.9% of last year’s levels. By comparison, for the week ending June 11, the average previous seven days was at 83.9%. In fact, at the end of May the average of the previous seven days was 87.7% of 2019.
These are my calculations. It appears to me that at this rate the increase in traffic is about 10% or so per month. At that rate, even before a Covid-19 vaccine is available, the level of traffic should reach 60% of 2019 by the end of the summer.
I suspect that at rate of increasing travel, many airlines, including American Airlines will approach the light at the end of the tunnel. In other words, by the end of the summer, American Airlines and other airlines will able to predict precisely when breakeven operations will occur.
When that occurs, AAL stock will not be at the present price, despite the level of debt that the company has incurred. But it may also mean that healthier airline stocks could move up quickly to their normalized price levels.
What to Do With AAL Stock
There is no question that investing in American Airlines stock is a risky venture. It is a race against time. Will the vaccine arrive sooner than later? Can the airline survive on its existing liquidity until traffic and revenue improve? Is the company sufficiently liquid enough?
These questions have to be taken into account when investing in AAL stock. I believe that the company will survive without entering into bankruptcy. However, I want to see its financial statements for the second quarter and the company’s presentations.
Until then, I have a range target for the stock, which was in my last article on AAL. I wrote that I believe the stock is worth between $24 and 33 per share. Once I see the Q2 financials, I may amend that target price and make it more precise. The point is that the stock should survive, and its value is higher than today’s price on an ongoing basis.
Mark Hake runs the Total Yield Value Guide which you can review here. As of this writing, he holds a position in American Airlines (AAL).
The post Huge Debt Load Makes Buying American Airlines a Gamble appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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This could end up sinking AAL stock unless the company’s liquidity can carry it until free cash flow and operational breakeven occurs. Moreover, Barron’s published an article on June 17 referring to two positive Wall Street analysts’ reports on AAL stock. InvestorPlace - Stock Market News, Stock Advice & Trading Tips American Airlines (NASDAQ:AAL) is piling up debt.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips American Airlines (NASDAQ:AAL) is piling up debt. This could end up sinking AAL stock unless the company’s liquidity can carry it until free cash flow and operational breakeven occurs. Source: GagliardiPhotography / Shutterstock.com When that will be is anyone’s guess., but there is no question that investing in AAL stock is gamble until that occurs.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips American Airlines (NASDAQ:AAL) is piling up debt. Rising Traffic Should Boost Airline Stocks As readers of my articles on AAL stock are aware, the TSA traffic numbers on airport checkpoint visitors has been slowly rising. What to Do With AAL Stock There is no question that investing in American Airlines stock is a risky venture.
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When that occurs, AAL stock will not be at the present price, despite the level of debt that the company has incurred. InvestorPlace - Stock Market News, Stock Advice & Trading Tips American Airlines (NASDAQ:AAL) is piling up debt. This could end up sinking AAL stock unless the company’s liquidity can carry it until free cash flow and operational breakeven occurs.
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e9239e53-e3e2-40de-ba21-e8be55774a34
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5636.0
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2020-06-23 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Fuwei Films, Translate Bio Inc, Spirit Aerosystems
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AAL
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-fuwei-films-translate-bio-inc-spirit-aerosystems-2020-06-23
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nan
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nan
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Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's main indexes were set to rise on Tuesday as investors took heart from reassurances that the Phase 1 trade agreement with China was intact, while upbeat business activity data from Europe boded well for U.S. surveys due later. .N
At 8:30 ET, Dow e-minis 1YMc1 were up 1.17% at 26,257. S&P 500 e-minis ESc1 were up 1.06% at 3,143.75, while Nasdaq 100 e-minis NQc1 were up 0.70% at 10,195.75. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Cbl & Associates Properties Inc , up 43.5% ** Nine Energy Service Inc , up 15.2% ** On Deck Capital Inc , up 13.8% The top three NYSE percentage losers premarket .PRPL.NQ: ** Marriott Vacatins Worldwide Corp , down 14.4% ** Lee Enterprises Inc , down 11.8% ** Mercury General Corp , down 11% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Fuwei Films (Holdings) Co Ltd FFHL.O, up 60.3% ** Translate Bio Inc , up 55.6% ** Kitov Pharma Ltd KTOV.O, up 48.8% The top three Nasdaq percentage losers premarket .PRPL.O: ** Sunesis Pharmaceuticals Inc , down 46.9% ** O2micro International Ltd , down 15.4% ** SINTX Technologies Inc , down 11.9% ** W&T Offshore WTI.N: up 5.5% premarket BUZZ-Rises as Q1 profit beats on higher production ** ON Semiconductor ON.O: up 4.1% premarket BUZZ-Piper Sandler sees significant recovery in 2021, upgrades ** Apple Inc AAPL.O: up 1.7% premarket BUZZ-UBS raises estimate for iPhone shipments, hikes PT ** Translate Bio TBIO.O: up 55.6% premarket BUZZ-Eyes record open on vaccine expansion deal with Sanofi ** miRagen MGEN.O: up 4.2% premarket BUZZ-Rises on positive data for lung disease treatment ** Fuwei Films FFHL.O: up 53.1% premarket BUZZ-Surges as co swings to Q1 profit ** Spirit Aerosystems SPR.N: down 5.1% premarket BUZZ-Falls as Berenberg downgrades on Boeing's lower demand outlook ** Immunomedics Inc IMMU.O: up 3.4% premarket BUZZ-Guggenheim picks Pfizer, Merck, Lilly among likely buyers ** Barnwell Industries Inc BRN.A: up 80.9% premarket BUZZ-Soars as quarterly loss narrows ** Beyond Meat BYND.O: down 0.6% premarket BUZZ-Down after Starbucks picks Impossible Foods for summer menu ** American Airlines AAL.O: down 8.3% premarket BUZZ-Descends after $2 bln haul from upsized stock, convertible deals ** FedEx Corp FDX.N: up 1.4% premarket BUZZ-BMO Capital expects Q4 to mark cyclical bottom for FedEx; raises PT ** Inovio Pharmaceuticals INO.O: up 12.5% premarket BUZZ-Rises on $71 mln U.S. DoD grant for COVID-19 vaccine device ** China Automotive Systems CAAS.O: up 18.9% premarket BUZZ-Rises on Q1 revenue beat
(Compiled by Shivani Kumaresan in Bengaluru)
((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three NYSE percentage gainers premarket .PRPG.NQ: ** Cbl & Associates Properties Inc , up 43.5% ** Nine Energy Service Inc , up 15.2% ** On Deck Capital Inc , up 13.8% The top three NYSE percentage losers premarket .PRPL.NQ: ** Marriott Vacatins Worldwide Corp , down 14.4% ** Lee Enterprises Inc , down 11.8% ** Mercury General Corp , down 11% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Fuwei Films (Holdings) Co Ltd FFHL.O, up 60.3% ** Translate Bio Inc , up 55.6% ** Kitov Pharma Ltd KTOV.O, up 48.8% The top three Nasdaq percentage losers premarket .PRPL.O: ** Sunesis Pharmaceuticals Inc , down 46.9% ** O2micro International Ltd , down 15.4% ** SINTX Technologies Inc , down 11.9% ** W&T Offshore WTI.N: up 5.5% premarket BUZZ-Rises as Q1 profit beats on higher production ** ON Semiconductor ON.O: up 4.1% premarket BUZZ-Piper Sandler sees significant recovery in 2021, upgrades ** Apple Inc AAPL.O: up 1.7% premarket BUZZ-UBS raises estimate for iPhone shipments, hikes PT ** Translate Bio TBIO.O: up 55.6% premarket BUZZ-Eyes record open on vaccine expansion deal with Sanofi ** miRagen MGEN.O: up 4.2% premarket BUZZ-Rises on positive data for lung disease treatment ** Fuwei Films FFHL.O: up 53.1% premarket BUZZ-Surges as co swings to Q1 profit ** Spirit Aerosystems SPR.N: down 5.1% premarket BUZZ-Falls as Berenberg downgrades on Boeing's lower demand outlook ** Immunomedics Inc IMMU.O: up 3.4% premarket BUZZ-Guggenheim picks Pfizer, Merck, Lilly among likely buyers ** Barnwell Industries Inc BRN.A: up 80.9% premarket BUZZ-Soars as quarterly loss narrows ** Beyond Meat BYND.O: down 0.6% premarket BUZZ-Down after Starbucks picks Impossible Foods for summer menu ** American Airlines AAL.O: down 8.3% premarket BUZZ-Descends after $2 bln haul from upsized stock, convertible deals ** FedEx Corp FDX.N: up 1.4% premarket BUZZ-BMO Capital expects Q4 to mark cyclical bottom for FedEx; raises PT ** Inovio Pharmaceuticals INO.O: up 12.5% premarket BUZZ-Rises on $71 mln U.S. DoD grant for COVID-19 vaccine device ** China Automotive Systems CAAS.O: up 18.9% premarket BUZZ-Rises on Q1 revenue beat (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were set to rise on Tuesday as investors took heart from reassurances that the Phase 1 trade agreement with China was intact, while upbeat business activity data from Europe boded well for U.S. surveys due later. .N At 8:30 ET, Dow e-minis 1YMc1 were up 1.17% at 26,257.
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The top three NYSE percentage gainers premarket .PRPG.NQ: ** Cbl & Associates Properties Inc , up 43.5% ** Nine Energy Service Inc , up 15.2% ** On Deck Capital Inc , up 13.8% The top three NYSE percentage losers premarket .PRPL.NQ: ** Marriott Vacatins Worldwide Corp , down 14.4% ** Lee Enterprises Inc , down 11.8% ** Mercury General Corp , down 11% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Fuwei Films (Holdings) Co Ltd FFHL.O, up 60.3% ** Translate Bio Inc , up 55.6% ** Kitov Pharma Ltd KTOV.O, up 48.8% The top three Nasdaq percentage losers premarket .PRPL.O: ** Sunesis Pharmaceuticals Inc , down 46.9% ** O2micro International Ltd , down 15.4% ** SINTX Technologies Inc , down 11.9% ** W&T Offshore WTI.N: up 5.5% premarket BUZZ-Rises as Q1 profit beats on higher production ** ON Semiconductor ON.O: up 4.1% premarket BUZZ-Piper Sandler sees significant recovery in 2021, upgrades ** Apple Inc AAPL.O: up 1.7% premarket BUZZ-UBS raises estimate for iPhone shipments, hikes PT ** Translate Bio TBIO.O: up 55.6% premarket BUZZ-Eyes record open on vaccine expansion deal with Sanofi ** miRagen MGEN.O: up 4.2% premarket BUZZ-Rises on positive data for lung disease treatment ** Fuwei Films FFHL.O: up 53.1% premarket BUZZ-Surges as co swings to Q1 profit ** Spirit Aerosystems SPR.N: down 5.1% premarket BUZZ-Falls as Berenberg downgrades on Boeing's lower demand outlook ** Immunomedics Inc IMMU.O: up 3.4% premarket BUZZ-Guggenheim picks Pfizer, Merck, Lilly among likely buyers ** Barnwell Industries Inc BRN.A: up 80.9% premarket BUZZ-Soars as quarterly loss narrows ** Beyond Meat BYND.O: down 0.6% premarket BUZZ-Down after Starbucks picks Impossible Foods for summer menu ** American Airlines AAL.O: down 8.3% premarket BUZZ-Descends after $2 bln haul from upsized stock, convertible deals ** FedEx Corp FDX.N: up 1.4% premarket BUZZ-BMO Capital expects Q4 to mark cyclical bottom for FedEx; raises PT ** Inovio Pharmaceuticals INO.O: up 12.5% premarket BUZZ-Rises on $71 mln U.S. DoD grant for COVID-19 vaccine device ** China Automotive Systems CAAS.O: up 18.9% premarket BUZZ-Rises on Q1 revenue beat (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were set to rise on Tuesday as investors took heart from reassurances that the Phase 1 trade agreement with China was intact, while upbeat business activity data from Europe boded well for U.S. surveys due later. S&P 500 e-minis ESc1 were up 1.06% at 3,143.75, while Nasdaq 100 e-minis NQc1 were up 0.70% at 10,195.75.
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The top three NYSE percentage gainers premarket .PRPG.NQ: ** Cbl & Associates Properties Inc , up 43.5% ** Nine Energy Service Inc , up 15.2% ** On Deck Capital Inc , up 13.8% The top three NYSE percentage losers premarket .PRPL.NQ: ** Marriott Vacatins Worldwide Corp , down 14.4% ** Lee Enterprises Inc , down 11.8% ** Mercury General Corp , down 11% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Fuwei Films (Holdings) Co Ltd FFHL.O, up 60.3% ** Translate Bio Inc , up 55.6% ** Kitov Pharma Ltd KTOV.O, up 48.8% The top three Nasdaq percentage losers premarket .PRPL.O: ** Sunesis Pharmaceuticals Inc , down 46.9% ** O2micro International Ltd , down 15.4% ** SINTX Technologies Inc , down 11.9% ** W&T Offshore WTI.N: up 5.5% premarket BUZZ-Rises as Q1 profit beats on higher production ** ON Semiconductor ON.O: up 4.1% premarket BUZZ-Piper Sandler sees significant recovery in 2021, upgrades ** Apple Inc AAPL.O: up 1.7% premarket BUZZ-UBS raises estimate for iPhone shipments, hikes PT ** Translate Bio TBIO.O: up 55.6% premarket BUZZ-Eyes record open on vaccine expansion deal with Sanofi ** miRagen MGEN.O: up 4.2% premarket BUZZ-Rises on positive data for lung disease treatment ** Fuwei Films FFHL.O: up 53.1% premarket BUZZ-Surges as co swings to Q1 profit ** Spirit Aerosystems SPR.N: down 5.1% premarket BUZZ-Falls as Berenberg downgrades on Boeing's lower demand outlook ** Immunomedics Inc IMMU.O: up 3.4% premarket BUZZ-Guggenheim picks Pfizer, Merck, Lilly among likely buyers ** Barnwell Industries Inc BRN.A: up 80.9% premarket BUZZ-Soars as quarterly loss narrows ** Beyond Meat BYND.O: down 0.6% premarket BUZZ-Down after Starbucks picks Impossible Foods for summer menu ** American Airlines AAL.O: down 8.3% premarket BUZZ-Descends after $2 bln haul from upsized stock, convertible deals ** FedEx Corp FDX.N: up 1.4% premarket BUZZ-BMO Capital expects Q4 to mark cyclical bottom for FedEx; raises PT ** Inovio Pharmaceuticals INO.O: up 12.5% premarket BUZZ-Rises on $71 mln U.S. DoD grant for COVID-19 vaccine device ** China Automotive Systems CAAS.O: up 18.9% premarket BUZZ-Rises on Q1 revenue beat (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were set to rise on Tuesday as investors took heart from reassurances that the Phase 1 trade agreement with China was intact, while upbeat business activity data from Europe boded well for U.S. surveys due later. S&P 500 e-minis ESc1 were up 1.06% at 3,143.75, while Nasdaq 100 e-minis NQc1 were up 0.70% at 10,195.75.
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The top three NYSE percentage gainers premarket .PRPG.NQ: ** Cbl & Associates Properties Inc , up 43.5% ** Nine Energy Service Inc , up 15.2% ** On Deck Capital Inc , up 13.8% The top three NYSE percentage losers premarket .PRPL.NQ: ** Marriott Vacatins Worldwide Corp , down 14.4% ** Lee Enterprises Inc , down 11.8% ** Mercury General Corp , down 11% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Fuwei Films (Holdings) Co Ltd FFHL.O, up 60.3% ** Translate Bio Inc , up 55.6% ** Kitov Pharma Ltd KTOV.O, up 48.8% The top three Nasdaq percentage losers premarket .PRPL.O: ** Sunesis Pharmaceuticals Inc , down 46.9% ** O2micro International Ltd , down 15.4% ** SINTX Technologies Inc , down 11.9% ** W&T Offshore WTI.N: up 5.5% premarket BUZZ-Rises as Q1 profit beats on higher production ** ON Semiconductor ON.O: up 4.1% premarket BUZZ-Piper Sandler sees significant recovery in 2021, upgrades ** Apple Inc AAPL.O: up 1.7% premarket BUZZ-UBS raises estimate for iPhone shipments, hikes PT ** Translate Bio TBIO.O: up 55.6% premarket BUZZ-Eyes record open on vaccine expansion deal with Sanofi ** miRagen MGEN.O: up 4.2% premarket BUZZ-Rises on positive data for lung disease treatment ** Fuwei Films FFHL.O: up 53.1% premarket BUZZ-Surges as co swings to Q1 profit ** Spirit Aerosystems SPR.N: down 5.1% premarket BUZZ-Falls as Berenberg downgrades on Boeing's lower demand outlook ** Immunomedics Inc IMMU.O: up 3.4% premarket BUZZ-Guggenheim picks Pfizer, Merck, Lilly among likely buyers ** Barnwell Industries Inc BRN.A: up 80.9% premarket BUZZ-Soars as quarterly loss narrows ** Beyond Meat BYND.O: down 0.6% premarket BUZZ-Down after Starbucks picks Impossible Foods for summer menu ** American Airlines AAL.O: down 8.3% premarket BUZZ-Descends after $2 bln haul from upsized stock, convertible deals ** FedEx Corp FDX.N: up 1.4% premarket BUZZ-BMO Capital expects Q4 to mark cyclical bottom for FedEx; raises PT ** Inovio Pharmaceuticals INO.O: up 12.5% premarket BUZZ-Rises on $71 mln U.S. DoD grant for COVID-19 vaccine device ** China Automotive Systems CAAS.O: up 18.9% premarket BUZZ-Rises on Q1 revenue beat (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were set to rise on Tuesday as investors took heart from reassurances that the Phase 1 trade agreement with China was intact, while upbeat business activity data from Europe boded well for U.S. surveys due later. .N At 8:30 ET, Dow e-minis 1YMc1 were up 1.17% at 26,257.
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e5464603-091c-4caf-bcf2-591a6444fcd1
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5637.0
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2020-06-23 00:00:00 UTC
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American Airlines prices stock offering at $13.50 per share
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AAL
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https://www.nasdaq.com/articles/american-airlines-prices-stock-offering-at-%2413.50-per-share-2020-06-23
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nan
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nan
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June 23 (Reuters) - American Airlines Group Inc AAL.O said on Tuesday it plans to offer 74.1 million shares of its common stock priced at $13.50 per share.
The company said it also plans to offer $1 billion of convertible notes due 2025 in public offerings. (https://reut.rs/3hS5Bpl)
(Reporting by Sanjana Shivdas in Bengaluru; Editing by Ramakrishnan M.)
((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.
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June 23 (Reuters) - American Airlines Group Inc AAL.O said on Tuesday it plans to offer 74.1 million shares of its common stock priced at $13.50 per share. The company said it also plans to offer $1 billion of convertible notes due 2025 in public offerings. (https://reut.rs/3hS5Bpl) (Reporting by Sanjana Shivdas in Bengaluru; Editing by Ramakrishnan M.) ((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.
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June 23 (Reuters) - American Airlines Group Inc AAL.O said on Tuesday it plans to offer 74.1 million shares of its common stock priced at $13.50 per share. The company said it also plans to offer $1 billion of convertible notes due 2025 in public offerings. (https://reut.rs/3hS5Bpl) (Reporting by Sanjana Shivdas in Bengaluru; Editing by Ramakrishnan M.) ((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.
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June 23 (Reuters) - American Airlines Group Inc AAL.O said on Tuesday it plans to offer 74.1 million shares of its common stock priced at $13.50 per share. The company said it also plans to offer $1 billion of convertible notes due 2025 in public offerings. (https://reut.rs/3hS5Bpl) (Reporting by Sanjana Shivdas in Bengaluru; Editing by Ramakrishnan M.) ((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.
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June 23 (Reuters) - American Airlines Group Inc AAL.O said on Tuesday it plans to offer 74.1 million shares of its common stock priced at $13.50 per share. The company said it also plans to offer $1 billion of convertible notes due 2025 in public offerings. (https://reut.rs/3hS5Bpl) (Reporting by Sanjana Shivdas in Bengaluru; Editing by Ramakrishnan M.) ((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.
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92f64e3e-f278-4059-9fdf-3fdcb548ddb4
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5638.0
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2020-06-23 00:00:00 UTC
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BHP Group hires JP Morgan to sell Australian thermal coal mine - sources
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AAL
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https://www.nasdaq.com/articles/bhp-group-hires-jp-morgan-to-sell-australian-thermal-coal-mine-sources-2020-06-23
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nan
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nan
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By Clara Denina and Melanie Burton
LONDON/MELBOURNE, June 23 (Reuters) - The world's largest mining company BHP Group BHP.AX, BHPB.L has hired U.S. investment bank JP Morgan to sell its Australian thermal coal mine, following pressure from investors concerned about global warming, two sources said.
Increased scrutiny from investors, regulators and climate change activists is prompting miners to limit their exposure to fossil fuels.
BHP's BHP.AX, BHPB.L Mt Arthur open cut mine, in the Hunter Valley region of New South Wales, supplies thermal coal, used as fuel for power plants, to domestic and international customers and could fetch between $1.5 billion and $1.8 billion, banking sources said on condition of anonymity.
Thermal coal only accounts for 3% of the portfolio of BHP, which has been asked by green groups and some shareholders to leave any industry associations with policies that fail to match the company's support for the 2015 Paris climate accord.
Its activist investor Elliott, which holds a 4.7% stake in the mining company, has pushed for the sale of the thermal coal assets, which also include one third of the Cerrejon mine in Colombia.
BHP and JP Morgan declined to comment.
Rival mining companies have also taken steps to go thermal coal free, with Rio Tinto RIO.AX, RIO.L selling its last coal mines in 2018, and Anglo American AAL.L considering the spinoff or sale of its South African coal operations within the next two or three years.
There is only a handful of companies including Australia's Whitehaven Coal Ltd and India's Adani Enterprises likely to express interest in the Mt Arthur mine, the sources said.
Sales processes have slowed over the past few months, as government lockdowns to contain the novel coronavirus halted mine visits and due diligence.
But as lockdown measures are gradually lifted, banking sources expect activity to resume in the coming months, with BHP's sale of Mt Arthur possible by the end of the year.
(Additional reporting by Zandi Shabalala in London; editing by Barbara Lewis)
((clara.denina@thomsonreuters.com(+44 207 542 9420)(Reuters Messaging: clara.denina.thomsonreuters.com@reuters.net)(Twitter: @claradenina))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Rival mining companies have also taken steps to go thermal coal free, with Rio Tinto RIO.AX, RIO.L selling its last coal mines in 2018, and Anglo American AAL.L considering the spinoff or sale of its South African coal operations within the next two or three years. Thermal coal only accounts for 3% of the portfolio of BHP, which has been asked by green groups and some shareholders to leave any industry associations with policies that fail to match the company's support for the 2015 Paris climate accord. There is only a handful of companies including Australia's Whitehaven Coal Ltd and India's Adani Enterprises likely to express interest in the Mt Arthur mine, the sources said.
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Rival mining companies have also taken steps to go thermal coal free, with Rio Tinto RIO.AX, RIO.L selling its last coal mines in 2018, and Anglo American AAL.L considering the spinoff or sale of its South African coal operations within the next two or three years. By Clara Denina and Melanie Burton LONDON/MELBOURNE, June 23 (Reuters) - The world's largest mining company BHP Group BHP.AX, BHPB.L has hired U.S. investment bank JP Morgan to sell its Australian thermal coal mine, following pressure from investors concerned about global warming, two sources said. BHP's BHP.AX, BHPB.L Mt Arthur open cut mine, in the Hunter Valley region of New South Wales, supplies thermal coal, used as fuel for power plants, to domestic and international customers and could fetch between $1.5 billion and $1.8 billion, banking sources said on condition of anonymity.
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Rival mining companies have also taken steps to go thermal coal free, with Rio Tinto RIO.AX, RIO.L selling its last coal mines in 2018, and Anglo American AAL.L considering the spinoff or sale of its South African coal operations within the next two or three years. By Clara Denina and Melanie Burton LONDON/MELBOURNE, June 23 (Reuters) - The world's largest mining company BHP Group BHP.AX, BHPB.L has hired U.S. investment bank JP Morgan to sell its Australian thermal coal mine, following pressure from investors concerned about global warming, two sources said. BHP's BHP.AX, BHPB.L Mt Arthur open cut mine, in the Hunter Valley region of New South Wales, supplies thermal coal, used as fuel for power plants, to domestic and international customers and could fetch between $1.5 billion and $1.8 billion, banking sources said on condition of anonymity.
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Rival mining companies have also taken steps to go thermal coal free, with Rio Tinto RIO.AX, RIO.L selling its last coal mines in 2018, and Anglo American AAL.L considering the spinoff or sale of its South African coal operations within the next two or three years. By Clara Denina and Melanie Burton LONDON/MELBOURNE, June 23 (Reuters) - The world's largest mining company BHP Group BHP.AX, BHPB.L has hired U.S. investment bank JP Morgan to sell its Australian thermal coal mine, following pressure from investors concerned about global warming, two sources said. Increased scrutiny from investors, regulators and climate change activists is prompting miners to limit their exposure to fossil fuels.
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d42028d3-92ce-4263-bbd0-9c947115bcb6
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5639.0
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2020-06-22 00:00:00 UTC
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Consumer Sector Update for 06/22/2020: AAL,MTCH,IAC,PTON
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AAL
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https://www.nasdaq.com/articles/consumer-sector-update-for-06-22-2020%3A-aalmtchiacpton-2020-06-22
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nan
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nan
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Consumer stocks were mixed, with the SPDR Consumer Staples Select Sector ETF slipping 0.3% this afternoon while the SPDR Consumer Discretionary Select Sector ETF was adding 0.4% in value.
In company news, American Airlines (AAL) slid 6.4% after disclosing plans to raise $3.5 billion in new liquidity through a mix of shares and notes in addition to securing a new $500 million term loan. The offerings also will include a $1.5 million private placement of secured senior notes maturing in 2025 and $750 million each of common shares and convertible senior notes.
Match Group (MTCH) was fractionally lower after the dating websites company and IAC/InterActiveCorp (IAC) earlier Monday extended the deadline to June 25 for investors to choose the form of consideration they receive from the companies' scheduled separation on June 30.
Peloton Interactive (PTON) peddled to a more than 7% gain after Stifel Monday raised its price target for the high-end exercise equipment company by $7 to $62 a share and reiterated its buy investment rating for the stock.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In company news, American Airlines (AAL) slid 6.4% after disclosing plans to raise $3.5 billion in new liquidity through a mix of shares and notes in addition to securing a new $500 million term loan. Match Group (MTCH) was fractionally lower after the dating websites company and IAC/InterActiveCorp (IAC) earlier Monday extended the deadline to June 25 for investors to choose the form of consideration they receive from the companies' scheduled separation on June 30. Peloton Interactive (PTON) peddled to a more than 7% gain after Stifel Monday raised its price target for the high-end exercise equipment company by $7 to $62 a share and reiterated its buy investment rating for the stock.
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In company news, American Airlines (AAL) slid 6.4% after disclosing plans to raise $3.5 billion in new liquidity through a mix of shares and notes in addition to securing a new $500 million term loan. Consumer stocks were mixed, with the SPDR Consumer Staples Select Sector ETF slipping 0.3% this afternoon while the SPDR Consumer Discretionary Select Sector ETF was adding 0.4% in value. The offerings also will include a $1.5 million private placement of secured senior notes maturing in 2025 and $750 million each of common shares and convertible senior notes.
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In company news, American Airlines (AAL) slid 6.4% after disclosing plans to raise $3.5 billion in new liquidity through a mix of shares and notes in addition to securing a new $500 million term loan. Consumer stocks were mixed, with the SPDR Consumer Staples Select Sector ETF slipping 0.3% this afternoon while the SPDR Consumer Discretionary Select Sector ETF was adding 0.4% in value. Match Group (MTCH) was fractionally lower after the dating websites company and IAC/InterActiveCorp (IAC) earlier Monday extended the deadline to June 25 for investors to choose the form of consideration they receive from the companies' scheduled separation on June 30.
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In company news, American Airlines (AAL) slid 6.4% after disclosing plans to raise $3.5 billion in new liquidity through a mix of shares and notes in addition to securing a new $500 million term loan. Consumer stocks were mixed, with the SPDR Consumer Staples Select Sector ETF slipping 0.3% this afternoon while the SPDR Consumer Discretionary Select Sector ETF was adding 0.4% in value. The offerings also will include a $1.5 million private placement of secured senior notes maturing in 2025 and $750 million each of common shares and convertible senior notes.
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f6d95a56-c411-46c1-ad3e-7143f1fd2fcc
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5640.0
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2020-06-22 00:00:00 UTC
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Wall Street ends higher with boost from technology stocks
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AAL
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https://www.nasdaq.com/articles/wall-street-ends-higher-with-boost-from-technology-stocks-2020-06-22
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nan
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nan
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By Sinéad Carew
NEW YORK, June 22 (Reuters) - Wall Street's three major indexes closed higher on Monday with the biggest gains in technology stocks as investors focused on the potential for more government stimulus measures even as they worried about an increase in coronavirus cases in the United States and other countries.
Nasdaq registered its fourth record closing high this month with the biggest boosts from Microsoft MSFT.O, Apple AAPL.O and Amazon.com AMZN.O.
The World Health Organization reported a record rise in global coronavirus cases on Sunday, driving demand for perceived safe havens including gold and longer-term U.S. Treasuries. US/GOL/
While New York City on Monday celebrated the lifting of many coronavirus restrictions, a dozen states in the U.S. South and Southwest reported record increases in new cases with 10% to 20% of people testing positive in some.
However White House economic adviser Larry Kudlow told CNBC that there was no second wave of the pandemic and that it is unlikely there will be widespread shutdowns across the country.
Investors were also clinging to hopes for more government stimulus after U.S. House of Representatives Democrats on Thursday unveiled a $1.5 trillion infrastructure bill in the same week that reports emerged of preparations by the Trump administration for an infrastructure stimulus plan.
"The good news from last week is dominating the bad news from today, which is the increase in COVID cases," said Nela Richardson, investment strategist at Edward Jones, who cautioned that government infrastructure spending plans have failed to become reality several times in the recent past.
Richardson said rising virus case numbers spurred a rotation out of sectors hit hardest by coronavirus' economic impacts into more resilient sectors such as technology.
U.S. President Donald Trump said on Monday that he supported the idea of giving Americans a second round of financial aid because of the virus.
The Dow Jones Industrial Average .DJI rose 153.5 points, or 0.59%, to 26,024.96, the S&P 500 .SPX gained 20.12 points, or 0.65%, to 3,117.86 and the Nasdaq Composite .IXIC added 110.35 points, or 1.11%, to 10,056.48.
Of the S&P's 11 major sectors, technology was leading the pack. However the next biggest gainer was the defensive utilities .SPLRCU sector.
The market took a step back on Friday after Apple Inc's AAPL.O move to temporarily shut some U.S. stores again underscored concerns of a delay in the recovery.
But Apple shares climbed on Monday and trading at record highs as the company announced new products at its annual conference for software developers.
Travel-related stocks were some of the weakest as those companies have been hit hard in the past by lockdowns.
The S&P 1500 airlines index .SPCOMAIR dropped 1.3%, while shares of cruise operators Norwegian Cruise Line NCLH.N and Royal Caribbean Cruises RCL.N dropped 6%.
U.S.-based meat processor Tyson Inc TSN.N slipped 2.8% as China's customs authority suspended imports of poultry products from a plant owned by the company that had been hit by the coronavirus.
American Airlines Group Inc AAL.O fell almost 7% as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity.
Virgin Galactic Holdings Inc SPCE.N soared just under 16% as it signed up with NASA to develop a program to promote private missions to the International Space Station.
Advancing issues outnumbered declining ones on the NYSE by a 1.18-to-1 ratio; on Nasdaq, a 1.19-to-1 ratio favored advancers.
The S&P 500 posted 14 new 52-week highs and no new lows; the Nasdaq Composite recorded 120 new highs and nine new lows.
On U.S. exchanges 10.66 billion shares changed hands compared with the 13.29 billion average for the last 20 sessions.
(Additional reporting by Medha Singh and Devbrat Saha in Bengaluru; Editing by Cynthia Osterman)
((sinead.carew@thomsonreuters.com; +1 (646) 223 6186; Reuters Messaging: sinead.carew.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group Inc AAL.O fell almost 7% as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity. By Sinéad Carew NEW YORK, June 22 (Reuters) - Wall Street's three major indexes closed higher on Monday with the biggest gains in technology stocks as investors focused on the potential for more government stimulus measures even as they worried about an increase in coronavirus cases in the United States and other countries. The World Health Organization reported a record rise in global coronavirus cases on Sunday, driving demand for perceived safe havens including gold and longer-term U.S. Treasuries.
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American Airlines Group Inc AAL.O fell almost 7% as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity. By Sinéad Carew NEW YORK, June 22 (Reuters) - Wall Street's three major indexes closed higher on Monday with the biggest gains in technology stocks as investors focused on the potential for more government stimulus measures even as they worried about an increase in coronavirus cases in the United States and other countries. The S&P 1500 airlines index .SPCOMAIR dropped 1.3%, while shares of cruise operators Norwegian Cruise Line NCLH.N and Royal Caribbean Cruises RCL.N dropped 6%.
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American Airlines Group Inc AAL.O fell almost 7% as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity. By Sinéad Carew NEW YORK, June 22 (Reuters) - Wall Street's three major indexes closed higher on Monday with the biggest gains in technology stocks as investors focused on the potential for more government stimulus measures even as they worried about an increase in coronavirus cases in the United States and other countries. Richardson said rising virus case numbers spurred a rotation out of sectors hit hardest by coronavirus' economic impacts into more resilient sectors such as technology.
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American Airlines Group Inc AAL.O fell almost 7% as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity. By Sinéad Carew NEW YORK, June 22 (Reuters) - Wall Street's three major indexes closed higher on Monday with the biggest gains in technology stocks as investors focused on the potential for more government stimulus measures even as they worried about an increase in coronavirus cases in the United States and other countries. Of the S&P's 11 major sectors, technology was leading the pack.
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074f5d43-960f-4ee0-a6b7-a84611ef6141
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5641.0
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2020-06-22 00:00:00 UTC
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Wall Street ends higher as rising virus cases spur stimulus hopes
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AAL
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https://www.nasdaq.com/articles/wall-street-ends-higher-as-rising-virus-cases-spur-stimulus-hopes-2020-06-22
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nan
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nan
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By Sinéad Carew
NEW YORK, June 22 (Reuters) - Wall Street's three major indexes closed higher on Monday with the biggest gains in technology stocks as investors focused on the potential for more government stimulus measures even as they worried about an increase in coronavirus cases in the United States and other countries.
The World Health Organization reported a record rise in global coronavirus cases on Sunday, driving demand for perceived safe havens including gold and longer-term U.S. Treasuries. US/GOL/
While New York City on Monday celebrated the lifting of many coronavirus restrictions, a dozen states in the U.S. South and Southwest reported record increases in new cases with 10% to 20% of people testing positive in some.
However White House economic adviser Larry Kudlow told CNBC earlier in the day that there was no second wave of the pandemic and that it is unlikely there will be widespread shutdowns across the country.
Investors were also clinging to hopes for more government stimulus after U.S. House of Representatives Democrats on Thursday unveiled a $1.5 trillion infrastructure bill in the same week that reports emerged of preparations by the Trump administration for a infrastructure stimulus plan.
"The good news from last week is dominating the bad news from today, which is the increase in COVID cases," said Nela Richardson, investment strategist at Edward Jones, who cautioned that government infrastructure spending plans have failed to become reality several times in the recent past.
Richardson said rising virus case numbers spurred a rotation out of sectors hit hardest by coronavirus' economic impacts into more resilient sectors such as technology.
Unofficially, the Dow Jones Industrial Average .DJI rose 151.58 points, or 0.59%, to 26,023.04, the S&P 500 .SPX gained 20.42 points, or 0.66%, to 3,118.16 and the Nasdaq Composite .IXIC added 110.35 points, or 1.11%, to 10,056.48.
Investors were also looking past the current quarter and into 2021, when earnings are expected to start improving according to Sam Stovall, chief investment strategist at CFRA.
Analysts expect a 42.7% drop in earnings per share for the second quarter, according to estimates gathered by Refinitiv.
Of the S&P's 11 major sectors, technology was leading the pack. However the next biggest gainer was the defensive utilities .SPLRCU sector.
The market took a step back on Friday after Apple Inc's AAPL.O move to temporarily shut some U.S. stores again underscored concerns of a delay in the recovery.
But Apple shares were climbing on Monday and trading at record highs as the company announced new products at its annual conference for software developers.
Travel-related stocks were some of the weakest as those companies have been hit hard in the past by the virus lockdowns.
The S&P 1500 airlines index .SPCOMAIR dropped, while shares of cruise operators Norwegian Cruise Line NCLH.N and Royal Caribbean Cruises RCL.N.
U.S.-based meat processor Tyson Inc TSN.N slipped as China's customs authority suspended imports of poultry products from a plant owned by the company that had been hit by the coronavirus.
American Airlines Group Inc AAL.O fell as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity.
Virgin Galactic Holdings Inc SPCE.N soared as it signed up with NASA to develop a program to promote private missions to the International Space Station.
(Additional reporting by Medha Singh and Devbrat Saha in Bengaluru; Editing by Cynthia Osterman)
((sinead.carew@thomsonreuters.com; +1 (646) 223 6186; Reuters Messaging: sinead.carew.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group Inc AAL.O fell as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity. By Sinéad Carew NEW YORK, June 22 (Reuters) - Wall Street's three major indexes closed higher on Monday with the biggest gains in technology stocks as investors focused on the potential for more government stimulus measures even as they worried about an increase in coronavirus cases in the United States and other countries. The World Health Organization reported a record rise in global coronavirus cases on Sunday, driving demand for perceived safe havens including gold and longer-term U.S. Treasuries.
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American Airlines Group Inc AAL.O fell as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity. By Sinéad Carew NEW YORK, June 22 (Reuters) - Wall Street's three major indexes closed higher on Monday with the biggest gains in technology stocks as investors focused on the potential for more government stimulus measures even as they worried about an increase in coronavirus cases in the United States and other countries. "The good news from last week is dominating the bad news from today, which is the increase in COVID cases," said Nela Richardson, investment strategist at Edward Jones, who cautioned that government infrastructure spending plans have failed to become reality several times in the recent past.
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American Airlines Group Inc AAL.O fell as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity. By Sinéad Carew NEW YORK, June 22 (Reuters) - Wall Street's three major indexes closed higher on Monday with the biggest gains in technology stocks as investors focused on the potential for more government stimulus measures even as they worried about an increase in coronavirus cases in the United States and other countries. "The good news from last week is dominating the bad news from today, which is the increase in COVID cases," said Nela Richardson, investment strategist at Edward Jones, who cautioned that government infrastructure spending plans have failed to become reality several times in the recent past.
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American Airlines Group Inc AAL.O fell as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity. By Sinéad Carew NEW YORK, June 22 (Reuters) - Wall Street's three major indexes closed higher on Monday with the biggest gains in technology stocks as investors focused on the potential for more government stimulus measures even as they worried about an increase in coronavirus cases in the United States and other countries. Richardson said rising virus case numbers spurred a rotation out of sectors hit hardest by coronavirus' economic impacts into more resilient sectors such as technology.
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75636180-6938-416f-94be-b7d21d8e91d5
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5642.0
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2020-06-22 00:00:00 UTC
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Consumer Sector Update for 06/22/2020: IDEX,AAL,MTCH,IAC,PTON
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AAL
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https://www.nasdaq.com/articles/consumer-sector-update-for-06-22-2020%3A-idexaalmtchiacpton-2020-06-22
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nan
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nan
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Consumer stocks were mixed in late Monday trade, with the SPDR Consumer Staples Select Sector ETF slipping 0.5% this afternoon while the SPDR Consumer Discretionary Select Sector ETF was rising 0.7%.
In company news, Ideanomics (IDEX) was more than 48% higher after Monday saying its Mobile Energy Global subsidiary landed an order to produce 200 electric vehicles from the city of Neijiang in China's Sichuan province valued at around $3.2 million. The company is expecting to complete delivery of the vehicles by mid-July.
Peloton Interactive (PTON) peddled to a 3.9% gain after Stifel Monday raised its price target for the high-end exercise equipment company by $7 to $62 a share and reiterated its buy investment rating for the stock.
To the downside, Match Group (MTCH) was 1% lower after the dating websites company and IAC/InterActiveCorp (IAC) earlier Monday extended the deadline to June 25 for investors to choose the form of consideration they receive from the companies' scheduled separation on June 30.
American Airlines (AAL) slid 7.25% after disclosing plans to raise $3.5 billion in new liquidity through a mix of shares and notes in addition to securing a new $500 million term loan. The offerings also will include a $1.5 million private placement of secured senior notes maturing in 2025 and $750 million each of common shares and convertible senior notes.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines (AAL) slid 7.25% after disclosing plans to raise $3.5 billion in new liquidity through a mix of shares and notes in addition to securing a new $500 million term loan. In company news, Ideanomics (IDEX) was more than 48% higher after Monday saying its Mobile Energy Global subsidiary landed an order to produce 200 electric vehicles from the city of Neijiang in China's Sichuan province valued at around $3.2 million. Peloton Interactive (PTON) peddled to a 3.9% gain after Stifel Monday raised its price target for the high-end exercise equipment company by $7 to $62 a share and reiterated its buy investment rating for the stock.
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American Airlines (AAL) slid 7.25% after disclosing plans to raise $3.5 billion in new liquidity through a mix of shares and notes in addition to securing a new $500 million term loan. Consumer stocks were mixed in late Monday trade, with the SPDR Consumer Staples Select Sector ETF slipping 0.5% this afternoon while the SPDR Consumer Discretionary Select Sector ETF was rising 0.7%. The offerings also will include a $1.5 million private placement of secured senior notes maturing in 2025 and $750 million each of common shares and convertible senior notes.
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American Airlines (AAL) slid 7.25% after disclosing plans to raise $3.5 billion in new liquidity through a mix of shares and notes in addition to securing a new $500 million term loan. Consumer stocks were mixed in late Monday trade, with the SPDR Consumer Staples Select Sector ETF slipping 0.5% this afternoon while the SPDR Consumer Discretionary Select Sector ETF was rising 0.7%. In company news, Ideanomics (IDEX) was more than 48% higher after Monday saying its Mobile Energy Global subsidiary landed an order to produce 200 electric vehicles from the city of Neijiang in China's Sichuan province valued at around $3.2 million.
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American Airlines (AAL) slid 7.25% after disclosing plans to raise $3.5 billion in new liquidity through a mix of shares and notes in addition to securing a new $500 million term loan. Consumer stocks were mixed in late Monday trade, with the SPDR Consumer Staples Select Sector ETF slipping 0.5% this afternoon while the SPDR Consumer Discretionary Select Sector ETF was rising 0.7%. In company news, Ideanomics (IDEX) was more than 48% higher after Monday saying its Mobile Energy Global subsidiary landed an order to produce 200 electric vehicles from the city of Neijiang in China's Sichuan province valued at around $3.2 million.
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100901f4-a585-4fdc-89b4-8d70947f21d7
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5643.0
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2020-06-22 00:00:00 UTC
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Chile´s Codelco tightens anti-coronavirus measures at its largest copper mine
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AAL
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https://www.nasdaq.com/articles/chiles-codelco-tightens-anti-coronavirus-measures-at-its-largest-copper-mine-2020-06-22
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nan
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nan
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By Dave Sherwood
SANTIAGO, June 22 (Reuters) - Chile´s state-run Codelco said on Monday it would implement new measures at its El Teniente copper mine, the company´s largest deposit, to maintain operations amid increasing worker angst over the fast-spreading coronavirus.
The world´s top copper producer said it would move to a 14-day on, 14-day off shift schedule at its flagship El Teniente, and that it would begin to test workers three times per shift for COVID-19.
The "extraordinary measures" would allow it to "ensure the continuity of operations and the contribution of El Teniente to the country," the company said in a statement.
On Saturday, authorities confirmed the death of a second Codelco employee from the virus, prompting it to suspend construction projects in northern Chile and take other steps aimed at reducing the circulation of workers.
Labor unions have decried Codelco´s sanitary measures as insufficient. Chilean mining authorities, however, have dismissed those concerns, calling mine adherence to restrictions "adequate."
The century-old El Teniente copper mine is located in the high Andes mountains not far from Santiago, the capital, which has become the epicenter of the coronavirus outbreak.
Chile has seen an explosive increase in infections since May, averaging more than 5,000 new cases daily. The country has logged nearly 247,000 confirmed cases and more than 4,502 deaths due to Covid-19.
Most mining companies in the country´s vast northern desert have nonetheless maintained operational continuity. Chile said in May its copper industry ranked among the least-affected globally by the pandemic, anticipating just a 1% reduction in output.
Codelco in particular has maintained that sales and shipments of copper have stayed on track.
Other international mining giants like BHP BHP.AX, Anglo American AAL.L, Glencore GLEN.L, Antofagasta ANTO.L and Freeport McMoRan FCX.N also operate in Chile.
Codelco´s El Teniente produced 459,744 tonnes of copper in 2019.
(Reporting by Dave Sherwood; Editing by Dan Grebler)
((dave.sherwood@thomsonreuters.com; +56 9 9138 1047, +56 2 2370 4224; Reuters Messaging: dave.sherwood.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Other international mining giants like BHP BHP.AX, Anglo American AAL.L, Glencore GLEN.L, Antofagasta ANTO.L and Freeport McMoRan FCX.N also operate in Chile. By Dave Sherwood SANTIAGO, June 22 (Reuters) - Chile´s state-run Codelco said on Monday it would implement new measures at its El Teniente copper mine, the company´s largest deposit, to maintain operations amid increasing worker angst over the fast-spreading coronavirus. On Saturday, authorities confirmed the death of a second Codelco employee from the virus, prompting it to suspend construction projects in northern Chile and take other steps aimed at reducing the circulation of workers.
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Other international mining giants like BHP BHP.AX, Anglo American AAL.L, Glencore GLEN.L, Antofagasta ANTO.L and Freeport McMoRan FCX.N also operate in Chile. By Dave Sherwood SANTIAGO, June 22 (Reuters) - Chile´s state-run Codelco said on Monday it would implement new measures at its El Teniente copper mine, the company´s largest deposit, to maintain operations amid increasing worker angst over the fast-spreading coronavirus. The century-old El Teniente copper mine is located in the high Andes mountains not far from Santiago, the capital, which has become the epicenter of the coronavirus outbreak.
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Other international mining giants like BHP BHP.AX, Anglo American AAL.L, Glencore GLEN.L, Antofagasta ANTO.L and Freeport McMoRan FCX.N also operate in Chile. By Dave Sherwood SANTIAGO, June 22 (Reuters) - Chile´s state-run Codelco said on Monday it would implement new measures at its El Teniente copper mine, the company´s largest deposit, to maintain operations amid increasing worker angst over the fast-spreading coronavirus. The world´s top copper producer said it would move to a 14-day on, 14-day off shift schedule at its flagship El Teniente, and that it would begin to test workers three times per shift for COVID-19.
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Other international mining giants like BHP BHP.AX, Anglo American AAL.L, Glencore GLEN.L, Antofagasta ANTO.L and Freeport McMoRan FCX.N also operate in Chile. By Dave Sherwood SANTIAGO, June 22 (Reuters) - Chile´s state-run Codelco said on Monday it would implement new measures at its El Teniente copper mine, the company´s largest deposit, to maintain operations amid increasing worker angst over the fast-spreading coronavirus. The "extraordinary measures" would allow it to "ensure the continuity of operations and the contribution of El Teniente to the country," the company said in a statement.
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9990ad51-b42a-4f48-8948-988036ac1418
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5644.0
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2020-06-22 00:00:00 UTC
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Chile´s Codelco beefs up sanitary measures at its largest copper mine
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AAL
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https://www.nasdaq.com/articles/chiles-codelco-beefs-up-sanitary-measures-at-its-largest-copper-mine-2020-06-22
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nan
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nan
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SANTIAGO, June 22 (Reuters) - Chile´s state-run Codelco said on Monday it would implement new measures at its El Teniente copper mine, the company´s largest deposit, to maintain operations amid increasing worker angst over the fast-spreading coronavirus.
The world´s top copper producer said it would move to a 14-day on, 14-day off shift schedule at El Teniente, and that it would begin to test workers three times per shift for COVID-19.
The "extraordinary measures" would allow it to "ensure the continuity of operations and the contribution of El Teniente to the country," the company said in a statement.
On Saturday, authorities confirmed the death of a second Codelco employee from the virus, prompting it to suspend construction projects in northern Chile and take other steps aimed at reducing the circulation of workers.
Labor unions have decried Codelco´s sanitary measures as insufficient. Chilean mining authorities, however, have dismissed those concerns, calling mine adherence to restrictions "adequate."
The century-old El Teniente copper mine is located in the high Andes mountains not far from Santiago, the capital, which has become the epicenter of the coronavirus outbreak.
Chile has seen an explosive increase in infections since May, averaging more than 5,000 new cases daily. The country has logged nearly 247,000 confirmed cases and more than 4,502 deaths due to Covid-19.
Most mining companies in the country´s vast northern desert have nonetheless maintained operational continuity. Chile said in May its copper industry ranked among the least-affected globally by the pandemic, anticipating just a 1% reduction in output.
Codelco in particular has maintained that sales and shipments of copper have stayed on track.
Other international mining giants like BHP BHP.AX, Anglo American AAL.L, Glencore GLEN.L, Antofagasta ANTO.L and Freeport McMoRan FCX.N also operate in Chile.
(Reporting by Dave Sherwood; Editing by Dan Grebler)
((dave.sherwood@thomsonreuters.com; +56 9 9138 1047, +56 2 2370 4224; Reuters Messaging: dave.sherwood.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.
|
Other international mining giants like BHP BHP.AX, Anglo American AAL.L, Glencore GLEN.L, Antofagasta ANTO.L and Freeport McMoRan FCX.N also operate in Chile. SANTIAGO, June 22 (Reuters) - Chile´s state-run Codelco said on Monday it would implement new measures at its El Teniente copper mine, the company´s largest deposit, to maintain operations amid increasing worker angst over the fast-spreading coronavirus. On Saturday, authorities confirmed the death of a second Codelco employee from the virus, prompting it to suspend construction projects in northern Chile and take other steps aimed at reducing the circulation of workers.
|
Other international mining giants like BHP BHP.AX, Anglo American AAL.L, Glencore GLEN.L, Antofagasta ANTO.L and Freeport McMoRan FCX.N also operate in Chile. SANTIAGO, June 22 (Reuters) - Chile´s state-run Codelco said on Monday it would implement new measures at its El Teniente copper mine, the company´s largest deposit, to maintain operations amid increasing worker angst over the fast-spreading coronavirus. The century-old El Teniente copper mine is located in the high Andes mountains not far from Santiago, the capital, which has become the epicenter of the coronavirus outbreak.
|
Other international mining giants like BHP BHP.AX, Anglo American AAL.L, Glencore GLEN.L, Antofagasta ANTO.L and Freeport McMoRan FCX.N also operate in Chile. SANTIAGO, June 22 (Reuters) - Chile´s state-run Codelco said on Monday it would implement new measures at its El Teniente copper mine, the company´s largest deposit, to maintain operations amid increasing worker angst over the fast-spreading coronavirus. On Saturday, authorities confirmed the death of a second Codelco employee from the virus, prompting it to suspend construction projects in northern Chile and take other steps aimed at reducing the circulation of workers.
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Other international mining giants like BHP BHP.AX, Anglo American AAL.L, Glencore GLEN.L, Antofagasta ANTO.L and Freeport McMoRan FCX.N also operate in Chile. SANTIAGO, June 22 (Reuters) - Chile´s state-run Codelco said on Monday it would implement new measures at its El Teniente copper mine, the company´s largest deposit, to maintain operations amid increasing worker angst over the fast-spreading coronavirus. The "extraordinary measures" would allow it to "ensure the continuity of operations and the contribution of El Teniente to the country," the company said in a statement.
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6b39edec-0720-4695-ab61-8f251538f803
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5645.0
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2020-06-22 00:00:00 UTC
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Tech stocks lift Wall Street as worries over rising virus cases mount
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AAL
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https://www.nasdaq.com/articles/tech-stocks-lift-wall-street-as-worries-over-rising-virus-cases-mount-2020-06-22
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nan
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nan
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By Medha Singh
June 22 (Reuters) - Technology stocks pushed Wall Street's main indexes higher on Monday but sentiment remained fragile as a spike in coronavirus cases in the United States and other major economies fueled fears of a setback to the nascent economic recovery.
The World Health Organization reported a record rise in global coronavirus cases on Sunday, driving demand for perceived safe-havens, including gold and longer-term U.S. Treasuries. US/GOL/
Travel-related stocks, one of the worst-hit sectors due to the outbreak, fell. The S&P 1500 airlines index .SPCOMAIR dropped 0.7%, while shares of cruise operators Norwegian Cruise Line NCLH.N and Royal Caribbean Cruises RCL.N both tumbled about 6%.
"On one hand, the bulls have made their case for the fact that the opening up is going much better than expected, yet the bears are looking at the number of cases that are starting to skyrocket," said Carlton Neel, chief executive officer ofinvestment researchfirm Chaikin Analytics in Philadelphia.
"There is a risk to the market that we come a long way very quickly. The bulls have a lot to prove here in terms of further gains, in the absence of maybe continued phenomenally good news from retail sales and jobs market."
The S&P 500 is trading in a tight range of late as several U.S. states, mainly in the West and South, have reported a surge in cases, with Apple Inc's AAPL.O move to temporarily shut some U.S. stores again on Friday underscoring concerns of a delay in the recovery.
The benchmark index has climbed some 42% from its March lows and the Nasdaq hit a record high earlier this month thanks to trillions of dollars in monetary and fiscal support, the reopening of businesses and improving economic data.
The S&P 500 is now just about 8% off its Feb. 19 record high.
The high-flying Apple and Microsoft Corp MSFT.O traded at all-time highs and provided the biggest boost to the three main U.S. stock indexes. Eight of the 11 major S&P sectors were higher.
At 12:54 p.m. ET, the Dow Jones Industrial Average .DJI was up 137.79 points, or 0.53%, at 26,009.25, the S&P 500 .SPX was up 18.53 points, or 0.60%, at 3,116.27. The Nasdaq Composite .IXIC was up 89.37 points, or 0.90%, at 10,035.49.
U.S.-based meat processor Tyson Inc TSN.N slipped 2.9% as China's customs authority suspended imports of poultry products from a plant owned by the company that had been hit by the coronavirus.
American Airlines Group Inc AAL.O fell 6.6% as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity.
Virgin Galactic Holdings Inc SPCE.N soared 13.7% as it signed up with NASA to develop a program to promote private missions to the International Space Station.
Advancing issues outnumbered decliners by a 1.14-to-1 ratio on the NYSE and by a 1.21-to-1 ratio on the Nasdaq.
The S&P index recorded 10 new 52-week highs and no new low, while the Nasdaq recorded 101 new highs and six new lows.
(Reporting by Medha Singh and Devbrat Saha in Bengaluru; Editing by Arun Koyyur and Sriraj Kalluvila)
((Medha.Singh@thomsonreuters.com; within U.S. +1646 223 8780, outside U.S. +91 80 6749 1130; Twitter: https://twitter.com/medhasinghs))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group Inc AAL.O fell 6.6% as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity. By Medha Singh June 22 (Reuters) - Technology stocks pushed Wall Street's main indexes higher on Monday but sentiment remained fragile as a spike in coronavirus cases in the United States and other major economies fueled fears of a setback to the nascent economic recovery. The S&P 500 is trading in a tight range of late as several U.S. states, mainly in the West and South, have reported a surge in cases, with Apple Inc's AAPL.O move to temporarily shut some U.S. stores again on Friday underscoring concerns of a delay in the recovery.
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American Airlines Group Inc AAL.O fell 6.6% as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity. By Medha Singh June 22 (Reuters) - Technology stocks pushed Wall Street's main indexes higher on Monday but sentiment remained fragile as a spike in coronavirus cases in the United States and other major economies fueled fears of a setback to the nascent economic recovery. The benchmark index has climbed some 42% from its March lows and the Nasdaq hit a record high earlier this month thanks to trillions of dollars in monetary and fiscal support, the reopening of businesses and improving economic data.
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American Airlines Group Inc AAL.O fell 6.6% as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity. By Medha Singh June 22 (Reuters) - Technology stocks pushed Wall Street's main indexes higher on Monday but sentiment remained fragile as a spike in coronavirus cases in the United States and other major economies fueled fears of a setback to the nascent economic recovery. The benchmark index has climbed some 42% from its March lows and the Nasdaq hit a record high earlier this month thanks to trillions of dollars in monetary and fiscal support, the reopening of businesses and improving economic data.
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American Airlines Group Inc AAL.O fell 6.6% as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity. The S&P 500 is now just about 8% off its Feb. 19 record high. The high-flying Apple and Microsoft Corp MSFT.O traded at all-time highs and provided the biggest boost to the three main U.S. stock indexes.
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a54e4582-b9a9-47ff-988e-9cfb8640ca21
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5646.0
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2020-06-22 00:00:00 UTC
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Why Shares of American Airlines Are Falling Today
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AAL
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https://www.nasdaq.com/articles/why-shares-of-american-airlines-are-falling-today-2020-06-22
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nan
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nan
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What happened
Shares of American Airlines Group (NASDAQ: AAL) traded down more than 6% as of 12:30 p.m. EDT Monday after the airline said it would raise $3.5 billion in new financing. It will get some of that new capital by diluting existing shareholders, and the stock is taking a hit as a result.
So what
American and other airlines are in survival mode, with demand plummeting due to the COVID-19 pandemic. There have been some indications in recent weeks that travel demand is slowly beginning to creep higher compared to April lows, but it will likely take years for traffic volumes to return to prepandemic levels.
Image source: American Airlines.
With the recovery expected to be slow, the airlines are aggressively adding to their cash balances to ensure they can ride out the storm. American on Sunday said it was selling $750 million in new shares and raising a similar amount via convertible notes due in 2025. The airline is also offering $1.5 billion in new senior secured notes and has entered into a new $500 million term loan facility.
American expects to burn through about $40 million per day in June, but hopes it can get that number down to breakeven by the end of 2020. But with new COVID-19 cases on the rise in a number of key states, it is impossible to say for sure those targets will be reached.
The debt is expensive. American's secured notes are expected to yield about 12%, according to Bloomberg, a significant premium to what nonairlines are paying in this low-rate environment and well above the 7% yield Delta Air Lines was forced to pay on a $3.5 billion secured bond back in April.
Now what
In the short term, secondary offerings hurt shareholders because they mean the pie is divided into even more pieces, meaning each individual share is worth less. And it is going to take American a long time to pay down all this expensive debt, meaning interest payments are going to eat into earnings for years to come. But given the plight American is in, this still looks like a good long-term move.
The big risk for shareholders is a second wave of the pandemic, which could further depress travel demand and delay an already slow recovery. In a worst case, American runs low on cash, forcing the airline to seek bankruptcy protection and in all likelihood wiping out the equity.
After the offerings, American will have $3.5 billion in additional cash to get through the crisis. That's good news for long-term holders.
10 stocks we like better than American Airlines Group
When investing geniuses David and Tom Gardner have 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.*
David and Tom 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 June 2, 2020
Lou Whiteman 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.
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What happened Shares of American Airlines Group (NASDAQ: AAL) traded down more than 6% as of 12:30 p.m. EDT Monday after the airline said it would raise $3.5 billion in new financing. There have been some indications in recent weeks that travel demand is slowly beginning to creep higher compared to April lows, but it will likely take years for traffic volumes to return to prepandemic levels. And it is going to take American a long time to pay down all this expensive debt, meaning interest payments are going to eat into earnings for years to come.
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What happened Shares of American Airlines Group (NASDAQ: AAL) traded down more than 6% as of 12:30 p.m. EDT Monday after the airline said it would raise $3.5 billion in new financing. American's secured notes are expected to yield about 12%, according to Bloomberg, a significant premium to what nonairlines are paying in this low-rate environment and well above the 7% yield Delta Air Lines was forced to pay on a $3.5 billion secured bond back in April. In a worst case, American runs low on cash, forcing the airline to seek bankruptcy protection and in all likelihood wiping out the equity.
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What happened Shares of American Airlines Group (NASDAQ: AAL) traded down more than 6% as of 12:30 p.m. EDT Monday after the airline said it would raise $3.5 billion in new financing. American's secured notes are expected to yield about 12%, according to Bloomberg, a significant premium to what nonairlines are paying in this low-rate environment and well above the 7% yield Delta Air Lines was forced to pay on a $3.5 billion secured bond back in April. 10 stocks we like better than American Airlines Group When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen.
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What happened Shares of American Airlines Group (NASDAQ: AAL) traded down more than 6% as of 12:30 p.m. EDT Monday after the airline said it would raise $3.5 billion in new financing. The airline is also offering $1.5 billion in new senior secured notes and has entered into a new $500 million term loan facility. The big risk for shareholders is a second wave of the pandemic, which could further depress travel demand and delay an already slow recovery.
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593c505f-f30e-46f5-a8ec-7a285279cbd7
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5647.0
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2020-06-22 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Neonode, Zscaler, Ideanomics
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AAL
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-neonode-zscaler-ideanomics-2020-06-22
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nan
|
nan
|
Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
U.S. stock indexes, S&P 500 and Dow Jones indexes were largely flat on Monday as investors weighed the implications of rising coronavirus infections for business activity while the tech-heavy Nasdaq rose for a seventh session. .N
At 11:30 ET, the Dow Jones Industrial Average .DJI was down 0.05% at 25,858.6. The S&P 500 .SPX was up 0.04% at 3,099.11 and the Nasdaq Composite .IXIC was up 0.38% at 9,984.232. The top three S&P 500 .PG.INX percentage gainers: ** Gap Inc , up 5.7% ** Synopsys Inc , up 4% ** Carrier Global Corp , up 3.9% The top three S&P 500 .PL.INX percentage losers: ** Royal Caribbean Cruises , down 8% ** American Airlines Group , down 7.4% ** Norwegian Cruise Line , down 7.4% The top three NYSE .PG.N percentage gainers: ** Companhia Energetica de Minas Gerais-CEMIG , up 53.5% ** Invitae Corp , up 38.8% ** Tortose Acquisition Corp , up 22.5% The top three NYSE .PL.N percentage losers: ** Ntn Buzztime , down 22.8% ** Cohen & Compny Inc , down 19.5% ** Livent Corp , down 15.3% The top three Nasdaq .PG.O percentage gainers: ** Sintx Tchnologies , up 180.8% ** Evoke Pharma EVOK.O, up 69.1% ** Ideanomics Inc , up 56.4% The top three Nasdaq .PL.O percentage losers: ** Urban One Inc , down 34.7% ** Urban One Inc , down 31.3% ** 9F Inc , down 28.7% ** Alkaline Water WTER.O: up 9.2%
BUZZ-Rises on launch of direct-to-consumer website ** Walmart Inc WMT.N: up 1.2%
BUZZ-Rises as UBS upgrades on 'amplified' growth potential ** Tyson Foods TSN.N: down 3.3%
BUZZ-Falls as China suspends poultry imports from Arkansas plant ** Nabriva Therapeutics NBRV.O: down 9.8%
BUZZ-Plunges as COVID-19 curbs thwart approval of antibiotic ** American Airlines AAL.O: down 7.4%
BUZZ-Drops as co announces equity, debt recap ** Myomo Inc MYO.A: up 2.7%
BUZZ-Gains on restarting device deliveries ** Gap Inc GPS.N: up 5.7%
BUZZ-Gains on Wells Fargo's 'overweight' rating ** Campbell Soup CPB.N: up 1.0% ** Conagra Brands CAG.N: up 2.1%
BUZZ-Jefferies sees appetite post-COVID for food producers, upgrades ** Virgin Galactic SPCE.N: up 11.3%
BUZZ-Flies on agreement with NASA ** Broadcom Inc AVGO.O: up 2.2%
BUZZ-Mizuho hikes PT on growth prospects ** Evoke Pharma EVOK.O: up 69.1%
BUZZ-Set for best day after FDA approves co's nasal spray ** Evelo Biosciences EVLO.O: up 12.4%
BUZZ-Soars after therapy included in COVID-19 trial ** Livent Corp LTHM.N: down 15.3%
BUZZ-Falls as lithium producer launches $225 mln convertible deal ** Nio Inc NIO.N: up 3.5%
BUZZ-Tesla challenger Nio accelerates after Tencent discloses stake ** Luckin Coffee LK.O: down 16.5%
BUZZ-Luckin shareholders to vote on ousting Chairman Lu, shares fall ** Fuling Global FORK.O: up 3.9%
BUZZ-Jumps on take-private offer ** Invitae Corp NVTA.N: up 38.7%
BUZZ-Up on deal to buy genomic analysis company ** Bed Bath & Beyond BBBY.O: up 2.7%
BUZZ-Up on liquidity boost, plan to reopen most stores by July ** 21Vianet VNET.O: up 10.4%
BUZZ-Rises on $150 mln investment from Blackstone ** Alaska Air ALK.N: down 1.1%
BUZZ-Skids on bleak demand outlook ** Zscaler Inc ZS.O: up 2.2%
BUZZ-Rises after co announces $1 bln convertible; Needham sets Street-high PT ** Theratechnologies THTX.O: up 16.4%
BUZZ-Jumps on positive data for cancer treatment technology ** Ideanomics IDEX.O: up 59.0%
BUZZ-Rises on $3.4 mln electric vehicle supply deal ** GDS Holdings GDS.O: up 3.6%
BUZZ-Rises as existing investors to buy $505 mln in shares ** Neonode NEON.O: up 16.4%
BUZZ-Jumps as Yesar Electronics selects company's sensor modules
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 0.18%
Consumer Discretionary
.SPLRCD
up 0.11%
Consumer Staples
.SPLRCS
down 0.36%
Energy
.SPNY
down 0.49%
Financial
.SPSY
down 0.46%
Health
.SPXHC
down 0.97%
Industrial
.SPLRCI
down 0.71%
Information Technology
.SPLRCT
up 1.02%
Materials
.SPLRCM
up 0.02%
Real Estate
.SPLRCR
down 0.71%
Utilities
.SPLRCU
up 1.55%
(Compiled by Shivani Kumaresan in Bengaluru)
((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Gap Inc , up 5.7% ** Synopsys Inc , up 4% ** Carrier Global Corp , up 3.9% The top three S&P 500 .PL.INX percentage losers: ** Royal Caribbean Cruises , down 8% ** American Airlines Group , down 7.4% ** Norwegian Cruise Line , down 7.4% The top three NYSE .PG.N percentage gainers: ** Companhia Energetica de Minas Gerais-CEMIG , up 53.5% ** Invitae Corp , up 38.8% ** Tortose Acquisition Corp , up 22.5% The top three NYSE .PL.N percentage losers: ** Ntn Buzztime , down 22.8% ** Cohen & Compny Inc , down 19.5% ** Livent Corp , down 15.3% The top three Nasdaq .PG.O percentage gainers: ** Sintx Tchnologies , up 180.8% ** Evoke Pharma EVOK.O, up 69.1% ** Ideanomics Inc , up 56.4% The top three Nasdaq .PL.O percentage losers: ** Urban One Inc , down 34.7% ** Urban One Inc , down 31.3% ** 9F Inc , down 28.7% ** Alkaline Water WTER.O: up 9.2% BUZZ-Rises on launch of direct-to-consumer website ** Walmart Inc WMT.N: up 1.2% BUZZ-Rises as UBS upgrades on 'amplified' growth potential ** Tyson Foods TSN.N: down 3.3% BUZZ-Falls as China suspends poultry imports from Arkansas plant ** Nabriva Therapeutics NBRV.O: down 9.8% BUZZ-Plunges as COVID-19 curbs thwart approval of antibiotic ** American Airlines AAL.O: down 7.4% BUZZ-Drops as co announces equity, debt recap ** Myomo Inc MYO.A: up 2.7% BUZZ-Gains on restarting device deliveries ** Gap Inc GPS.N: up 5.7% BUZZ-Gains on Wells Fargo's 'overweight' rating ** Campbell Soup CPB.N: up 1.0% ** Conagra Brands CAG.N: up 2.1% BUZZ-Jefferies sees appetite post-COVID for food producers, upgrades ** Virgin Galactic SPCE.N: up 11.3% BUZZ-Flies on agreement with NASA ** Broadcom Inc AVGO.O: up 2.2% BUZZ-Mizuho hikes PT on growth prospects ** Evoke Pharma EVOK.O: up 69.1% BUZZ-Set for best day after FDA approves co's nasal spray ** Evelo Biosciences EVLO.O: up 12.4% BUZZ-Soars after therapy included in COVID-19 trial ** Livent Corp LTHM.N: down 15.3% BUZZ-Falls as lithium producer launches $225 mln convertible deal ** Nio Inc NIO.N: up 3.5% BUZZ-Tesla challenger Nio accelerates after Tencent discloses stake ** Luckin Coffee LK.O: down 16.5% BUZZ-Luckin shareholders to vote on ousting Chairman Lu, shares fall ** Fuling Global FORK.O: up 3.9% BUZZ-Jumps on take-private offer ** Invitae Corp NVTA.N: up 38.7% BUZZ-Up on deal to buy genomic analysis company ** Bed Bath & Beyond BBBY.O: up 2.7% BUZZ-Up on liquidity boost, plan to reopen most stores by July ** 21Vianet VNET.O: up 10.4% BUZZ-Rises on $150 mln investment from Blackstone ** Alaska Air ALK.N: down 1.1% BUZZ-Skids on bleak demand outlook ** Zscaler Inc ZS.O: up 2.2% BUZZ-Rises after co announces $1 bln convertible; Needham sets Street-high PT ** Theratechnologies THTX.O: up 16.4% BUZZ-Jumps on positive data for cancer treatment technology ** Ideanomics IDEX.O: up 59.0% BUZZ-Rises on $3.4 mln electric vehicle supply deal ** GDS Holdings GDS.O: up 3.6% BUZZ-Rises as existing investors to buy $505 mln in shares ** Neonode NEON.O: up 16.4% BUZZ-Jumps as Yesar Electronics selects company's sensor modules The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock indexes, S&P 500 and Dow Jones indexes were largely flat on Monday as investors weighed the implications of rising coronavirus infections for business activity while the tech-heavy Nasdaq rose for a seventh session. up 1.55% (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Gap Inc , up 5.7% ** Synopsys Inc , up 4% ** Carrier Global Corp , up 3.9% The top three S&P 500 .PL.INX percentage losers: ** Royal Caribbean Cruises , down 8% ** American Airlines Group , down 7.4% ** Norwegian Cruise Line , down 7.4% The top three NYSE .PG.N percentage gainers: ** Companhia Energetica de Minas Gerais-CEMIG , up 53.5% ** Invitae Corp , up 38.8% ** Tortose Acquisition Corp , up 22.5% The top three NYSE .PL.N percentage losers: ** Ntn Buzztime , down 22.8% ** Cohen & Compny Inc , down 19.5% ** Livent Corp , down 15.3% The top three Nasdaq .PG.O percentage gainers: ** Sintx Tchnologies , up 180.8% ** Evoke Pharma EVOK.O, up 69.1% ** Ideanomics Inc , up 56.4% The top three Nasdaq .PL.O percentage losers: ** Urban One Inc , down 34.7% ** Urban One Inc , down 31.3% ** 9F Inc , down 28.7% ** Alkaline Water WTER.O: up 9.2% BUZZ-Rises on launch of direct-to-consumer website ** Walmart Inc WMT.N: up 1.2% BUZZ-Rises as UBS upgrades on 'amplified' growth potential ** Tyson Foods TSN.N: down 3.3% BUZZ-Falls as China suspends poultry imports from Arkansas plant ** Nabriva Therapeutics NBRV.O: down 9.8% BUZZ-Plunges as COVID-19 curbs thwart approval of antibiotic ** American Airlines AAL.O: down 7.4% BUZZ-Drops as co announces equity, debt recap ** Myomo Inc MYO.A: up 2.7% BUZZ-Gains on restarting device deliveries ** Gap Inc GPS.N: up 5.7% BUZZ-Gains on Wells Fargo's 'overweight' rating ** Campbell Soup CPB.N: up 1.0% ** Conagra Brands CAG.N: up 2.1% BUZZ-Jefferies sees appetite post-COVID for food producers, upgrades ** Virgin Galactic SPCE.N: up 11.3% BUZZ-Flies on agreement with NASA ** Broadcom Inc AVGO.O: up 2.2% BUZZ-Mizuho hikes PT on growth prospects ** Evoke Pharma EVOK.O: up 69.1% BUZZ-Set for best day after FDA approves co's nasal spray ** Evelo Biosciences EVLO.O: up 12.4% BUZZ-Soars after therapy included in COVID-19 trial ** Livent Corp LTHM.N: down 15.3% BUZZ-Falls as lithium producer launches $225 mln convertible deal ** Nio Inc NIO.N: up 3.5% BUZZ-Tesla challenger Nio accelerates after Tencent discloses stake ** Luckin Coffee LK.O: down 16.5% BUZZ-Luckin shareholders to vote on ousting Chairman Lu, shares fall ** Fuling Global FORK.O: up 3.9% BUZZ-Jumps on take-private offer ** Invitae Corp NVTA.N: up 38.7% BUZZ-Up on deal to buy genomic analysis company ** Bed Bath & Beyond BBBY.O: up 2.7% BUZZ-Up on liquidity boost, plan to reopen most stores by July ** 21Vianet VNET.O: up 10.4% BUZZ-Rises on $150 mln investment from Blackstone ** Alaska Air ALK.N: down 1.1% BUZZ-Skids on bleak demand outlook ** Zscaler Inc ZS.O: up 2.2% BUZZ-Rises after co announces $1 bln convertible; Needham sets Street-high PT ** Theratechnologies THTX.O: up 16.4% BUZZ-Jumps on positive data for cancer treatment technology ** Ideanomics IDEX.O: up 59.0% BUZZ-Rises on $3.4 mln electric vehicle supply deal ** GDS Holdings GDS.O: up 3.6% BUZZ-Rises as existing investors to buy $505 mln in shares ** Neonode NEON.O: up 16.4% BUZZ-Jumps as Yesar Electronics selects company's sensor modules The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock indexes, S&P 500 and Dow Jones indexes were largely flat on Monday as investors weighed the implications of rising coronavirus infections for business activity while the tech-heavy Nasdaq rose for a seventh session. .N At 11:30 ET, the Dow Jones Industrial Average .DJI was down 0.05% at 25,858.6.
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The top three S&P 500 .PG.INX percentage gainers: ** Gap Inc , up 5.7% ** Synopsys Inc , up 4% ** Carrier Global Corp , up 3.9% The top three S&P 500 .PL.INX percentage losers: ** Royal Caribbean Cruises , down 8% ** American Airlines Group , down 7.4% ** Norwegian Cruise Line , down 7.4% The top three NYSE .PG.N percentage gainers: ** Companhia Energetica de Minas Gerais-CEMIG , up 53.5% ** Invitae Corp , up 38.8% ** Tortose Acquisition Corp , up 22.5% The top three NYSE .PL.N percentage losers: ** Ntn Buzztime , down 22.8% ** Cohen & Compny Inc , down 19.5% ** Livent Corp , down 15.3% The top three Nasdaq .PG.O percentage gainers: ** Sintx Tchnologies , up 180.8% ** Evoke Pharma EVOK.O, up 69.1% ** Ideanomics Inc , up 56.4% The top three Nasdaq .PL.O percentage losers: ** Urban One Inc , down 34.7% ** Urban One Inc , down 31.3% ** 9F Inc , down 28.7% ** Alkaline Water WTER.O: up 9.2% BUZZ-Rises on launch of direct-to-consumer website ** Walmart Inc WMT.N: up 1.2% BUZZ-Rises as UBS upgrades on 'amplified' growth potential ** Tyson Foods TSN.N: down 3.3% BUZZ-Falls as China suspends poultry imports from Arkansas plant ** Nabriva Therapeutics NBRV.O: down 9.8% BUZZ-Plunges as COVID-19 curbs thwart approval of antibiotic ** American Airlines AAL.O: down 7.4% BUZZ-Drops as co announces equity, debt recap ** Myomo Inc MYO.A: up 2.7% BUZZ-Gains on restarting device deliveries ** Gap Inc GPS.N: up 5.7% BUZZ-Gains on Wells Fargo's 'overweight' rating ** Campbell Soup CPB.N: up 1.0% ** Conagra Brands CAG.N: up 2.1% BUZZ-Jefferies sees appetite post-COVID for food producers, upgrades ** Virgin Galactic SPCE.N: up 11.3% BUZZ-Flies on agreement with NASA ** Broadcom Inc AVGO.O: up 2.2% BUZZ-Mizuho hikes PT on growth prospects ** Evoke Pharma EVOK.O: up 69.1% BUZZ-Set for best day after FDA approves co's nasal spray ** Evelo Biosciences EVLO.O: up 12.4% BUZZ-Soars after therapy included in COVID-19 trial ** Livent Corp LTHM.N: down 15.3% BUZZ-Falls as lithium producer launches $225 mln convertible deal ** Nio Inc NIO.N: up 3.5% BUZZ-Tesla challenger Nio accelerates after Tencent discloses stake ** Luckin Coffee LK.O: down 16.5% BUZZ-Luckin shareholders to vote on ousting Chairman Lu, shares fall ** Fuling Global FORK.O: up 3.9% BUZZ-Jumps on take-private offer ** Invitae Corp NVTA.N: up 38.7% BUZZ-Up on deal to buy genomic analysis company ** Bed Bath & Beyond BBBY.O: up 2.7% BUZZ-Up on liquidity boost, plan to reopen most stores by July ** 21Vianet VNET.O: up 10.4% BUZZ-Rises on $150 mln investment from Blackstone ** Alaska Air ALK.N: down 1.1% BUZZ-Skids on bleak demand outlook ** Zscaler Inc ZS.O: up 2.2% BUZZ-Rises after co announces $1 bln convertible; Needham sets Street-high PT ** Theratechnologies THTX.O: up 16.4% BUZZ-Jumps on positive data for cancer treatment technology ** Ideanomics IDEX.O: up 59.0% BUZZ-Rises on $3.4 mln electric vehicle supply deal ** GDS Holdings GDS.O: up 3.6% BUZZ-Rises as existing investors to buy $505 mln in shares ** Neonode NEON.O: up 16.4% BUZZ-Jumps as Yesar Electronics selects company's sensor modules The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock indexes, S&P 500 and Dow Jones indexes were largely flat on Monday as investors weighed the implications of rising coronavirus infections for business activity while the tech-heavy Nasdaq rose for a seventh session. up 0.18% Consumer Discretionary
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The top three S&P 500 .PG.INX percentage gainers: ** Gap Inc , up 5.7% ** Synopsys Inc , up 4% ** Carrier Global Corp , up 3.9% The top three S&P 500 .PL.INX percentage losers: ** Royal Caribbean Cruises , down 8% ** American Airlines Group , down 7.4% ** Norwegian Cruise Line , down 7.4% The top three NYSE .PG.N percentage gainers: ** Companhia Energetica de Minas Gerais-CEMIG , up 53.5% ** Invitae Corp , up 38.8% ** Tortose Acquisition Corp , up 22.5% The top three NYSE .PL.N percentage losers: ** Ntn Buzztime , down 22.8% ** Cohen & Compny Inc , down 19.5% ** Livent Corp , down 15.3% The top three Nasdaq .PG.O percentage gainers: ** Sintx Tchnologies , up 180.8% ** Evoke Pharma EVOK.O, up 69.1% ** Ideanomics Inc , up 56.4% The top three Nasdaq .PL.O percentage losers: ** Urban One Inc , down 34.7% ** Urban One Inc , down 31.3% ** 9F Inc , down 28.7% ** Alkaline Water WTER.O: up 9.2% BUZZ-Rises on launch of direct-to-consumer website ** Walmart Inc WMT.N: up 1.2% BUZZ-Rises as UBS upgrades on 'amplified' growth potential ** Tyson Foods TSN.N: down 3.3% BUZZ-Falls as China suspends poultry imports from Arkansas plant ** Nabriva Therapeutics NBRV.O: down 9.8% BUZZ-Plunges as COVID-19 curbs thwart approval of antibiotic ** American Airlines AAL.O: down 7.4% BUZZ-Drops as co announces equity, debt recap ** Myomo Inc MYO.A: up 2.7% BUZZ-Gains on restarting device deliveries ** Gap Inc GPS.N: up 5.7% BUZZ-Gains on Wells Fargo's 'overweight' rating ** Campbell Soup CPB.N: up 1.0% ** Conagra Brands CAG.N: up 2.1% BUZZ-Jefferies sees appetite post-COVID for food producers, upgrades ** Virgin Galactic SPCE.N: up 11.3% BUZZ-Flies on agreement with NASA ** Broadcom Inc AVGO.O: up 2.2% BUZZ-Mizuho hikes PT on growth prospects ** Evoke Pharma EVOK.O: up 69.1% BUZZ-Set for best day after FDA approves co's nasal spray ** Evelo Biosciences EVLO.O: up 12.4% BUZZ-Soars after therapy included in COVID-19 trial ** Livent Corp LTHM.N: down 15.3% BUZZ-Falls as lithium producer launches $225 mln convertible deal ** Nio Inc NIO.N: up 3.5% BUZZ-Tesla challenger Nio accelerates after Tencent discloses stake ** Luckin Coffee LK.O: down 16.5% BUZZ-Luckin shareholders to vote on ousting Chairman Lu, shares fall ** Fuling Global FORK.O: up 3.9% BUZZ-Jumps on take-private offer ** Invitae Corp NVTA.N: up 38.7% BUZZ-Up on deal to buy genomic analysis company ** Bed Bath & Beyond BBBY.O: up 2.7% BUZZ-Up on liquidity boost, plan to reopen most stores by July ** 21Vianet VNET.O: up 10.4% BUZZ-Rises on $150 mln investment from Blackstone ** Alaska Air ALK.N: down 1.1% BUZZ-Skids on bleak demand outlook ** Zscaler Inc ZS.O: up 2.2% BUZZ-Rises after co announces $1 bln convertible; Needham sets Street-high PT ** Theratechnologies THTX.O: up 16.4% BUZZ-Jumps on positive data for cancer treatment technology ** Ideanomics IDEX.O: up 59.0% BUZZ-Rises on $3.4 mln electric vehicle supply deal ** GDS Holdings GDS.O: up 3.6% BUZZ-Rises as existing investors to buy $505 mln in shares ** Neonode NEON.O: up 16.4% BUZZ-Jumps as Yesar Electronics selects company's sensor modules The 11 major S&P 500 sectors: Communication Services .N At 11:30 ET, the Dow Jones Industrial Average .DJI was down 0.05% at 25,858.6. The S&P 500 .SPX was up 0.04% at 3,099.11 and the Nasdaq Composite .IXIC was up 0.38% at 9,984.232.
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fc54074b-a89b-4671-83d8-4183e953380f
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5648.0
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2020-06-22 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Nike, TripAdvisor, U.S. Cruise Operators
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AAL
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-nike-tripadvisor-u.s.-cruise-operators-2020-06-22
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nan
|
nan
|
Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Technology stocks pushed Wall Street's main indexes higher on Monday but sentiment remained fragile as a spike in coronavirus cases in the United States and other major economies fueled fears of a setback to the nascent economic recovery. .N
At 13:00 ET, the Dow Jones Industrial Average .DJI was up 0.53% at 26,009.08. The S&P 500 .SPX was up 0.64% at 3,117.5 and the Nasdaq Composite .IXIC was up 0.94% at 10,039.638. The top three S&P 500 .PG.INX percentage gainers: ** Gap Inc GPS.N, up 8.1% ** Chipotle Mexican Grill CMG.N, up 5.3% ** The Aes Corp AES.N, up 5.2% The top three S&P 500 .PL.INX percentage losers: ** American Airlines Group AAL.OQ, down 5.9% ** Royal Caribbean Cruises RCL.N, down 5.7% ** Norwegian Cruise Line NCLH.N, down 5.3% The top three NYSE .PG.N percentage gainers: ** Companhia Energetica de Minas Gerais-CEMIG CIGc.N, up 47.4% ** Invitae Corp NVTA.N, up 39.8% ** Tortose Acquisition Corp SHLL.N, up 24.6% The top three NYSE .PL.N percentage losers: ** Ntn Buzztime NTN.N, down 25.4% ** Cohen & Compny COHN.N, down 21.7% ** Livent Corp LTHM.N, down 18.5% The top three Nasdaq .PG.O percentage gainers: ** Sintx Tchnologiess SINT.O, up 175% ** Evoke Pharma EVOK.O, up 70.9% ** Ideanomics Inc IDEX.O, up 52.7% The top three Nasdaq .PL.O percentage losers: ** Urban One Inc UONE.O, down 40.7% ** 9F Inc JFU.O, down 29.3% ** Urban One Inc UONEK.O, down 27.7% ** Alkaline Water WTER.O: up 6.8%
BUZZ-Rises on launch of direct-to-consumer website ** Walmart Inc WMT.N: up 1.2%
BUZZ-Rises as UBS upgrades on 'amplified' growth potential ** Tyson Foods TSN.N: down 2.5%
BUZZ-Falls as China suspends poultry imports from Arkansas plant ** Nabriva Therapeutics NBRV.O: down 4.0%
BUZZ-Plunges as COVID-19 curbs thwart approval of antibiotic ** American Airlines AAL.O: down 5.9%
BUZZ-Drops as co announces equity, debt recap ** Myomo Inc MYO.A: up 3.2%
BUZZ-Gains on restarting device deliveries ** Gap Inc GPS.N: up 8.1%
BUZZ-Gains on Wells Fargo's 'overweight' rating ** Campbell Soup CPB.N: up 1.3% ** Conagra Brands CAG.N: up 2.4%
BUZZ-Jefferies sees appetite post-COVID for food producers, upgrades ** Virgin Galactic SPCE.N: up 13.6%
BUZZ-Flies on agreement with NASA ** Broadcom Inc AVGO.O: up 3.0%
BUZZ-Mizuho hikes PT on growth prospects ** Evoke Pharma EVOK.O: up 70.9%
BUZZ-Set for best day after FDA approves co's nasal spray ** Evelo Biosciences EVLO.O: up 17.0%
BUZZ-Soars after therapy included in COVID-19 trial ** Livent Corp LTHM.N: down 18.5%
BUZZ-Falls as lithium producer launches $225 mln convertible deal ** Nio Inc NIO.N: up 3.9%
BUZZ-Tesla challenger Nio accelerates after Tencent discloses stake ** Luckin Coffee LK.O: down 16.5%
BUZZ-Luckin shareholders to vote on ousting Chairman Lu, shares fall ** Fuling Global FORK.O: up 5.2%
BUZZ-Jumps on take-private offer ** Invitae Corp NVTA.N: up 39.7%
BUZZ-Up on deal to buy genomic analysis company ** Bed Bath & Beyond BBBY.O: up 4.5%
BUZZ-Up on liquidity boost, plan to reopen most stores by July ** 21Vianet VNET.O: up 11.7%
BUZZ-Rises on $150 mln investment from Blackstone ** Zscaler Inc ZS.O: up 1.0%
BUZZ-Rises after co announces $1 bln convertible; Needham sets Street-high PT ** Theratechnologies THTX.O: up 16.6%
BUZZ-Jumps on positive data for cancer treatment technology ** Ideanomics IDEX.O: up 56.1%
BUZZ-Rises on $3.4 mln electric vehicle supply deal ** GDS Holdings GDS.O: up 2.7%
BUZZ-Rises as existing investors to buy $505 mln in shares ** Neonode NEON.O: up 17.2%
BUZZ-Jumps as Yesar Electronics selects company's sensor modules ** Yintech Investment YIN.O: up 20.0%
BUZZ-Soars on go-private proposal ** Five Prime Therapeutics FPRX.O: up 37.3%
BUZZ-Jumps as Wedbush upgrades to 'outperform' ** Royal Carribean Cruises RCL.N: down 5.7%
BUZZ-Cruise operators fall as Carnival further extends voyage suspension ** TripAdvisor TRIP.O: down 0.9%
BUZZ-Falls after flagging quarterly loss on virus hit ** Nike Inc NKE.N: up 3.3%
BUZZ-Gains as brokerages expect China sales to bounce back ** SciPlay Corp SCPL.O: up 2.1%
BUZZ-Rises on acquiring mobile gaming firm Come2Play ** Western Digital WDC.O: up 1.2%
BUZZ-Brokerage upgrades on demand bump for storage drives
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 0.45%
Consumer Discretionary
.SPLRCD
up 0.96%
Consumer Staples
.SPLRCS
down 0.21%
Energy
.SPNY
up 0.69%
Financial
.SPSY
up 0.10%
Health
.SPXHC
down 0.35%
Industrial
.SPLRCI
up 0.19%
Information Technology
.SPLRCT
up 1.66%
Materials
.SPLRCM
up 0.75%
Real Estate
.SPLRCR
down 0.47%
Utilities
.SPLRCU
up 1.45%
(Compiled by Shivani Kumaresan in Bengaluru)
((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Gap Inc GPS.N, up 8.1% ** Chipotle Mexican Grill CMG.N, up 5.3% ** The Aes Corp AES.N, up 5.2% The top three S&P 500 .PL.INX percentage losers: ** American Airlines Group AAL.OQ, down 5.9% ** Royal Caribbean Cruises RCL.N, down 5.7% ** Norwegian Cruise Line NCLH.N, down 5.3% The top three NYSE .PG.N percentage gainers: ** Companhia Energetica de Minas Gerais-CEMIG CIGc.N, up 47.4% ** Invitae Corp NVTA.N, up 39.8% ** Tortose Acquisition Corp SHLL.N, up 24.6% The top three NYSE .PL.N percentage losers: ** Ntn Buzztime NTN.N, down 25.4% ** Cohen & Compny COHN.N, down 21.7% ** Livent Corp LTHM.N, down 18.5% The top three Nasdaq .PG.O percentage gainers: ** Sintx Tchnologiess SINT.O, up 175% ** Evoke Pharma EVOK.O, up 70.9% ** Ideanomics Inc IDEX.O, up 52.7% The top three Nasdaq .PL.O percentage losers: ** Urban One Inc UONE.O, down 40.7% ** 9F Inc JFU.O, down 29.3% ** Urban One Inc UONEK.O, down 27.7% ** Alkaline Water WTER.O: up 6.8% BUZZ-Rises on launch of direct-to-consumer website ** Walmart Inc WMT.N: up 1.2% BUZZ-Rises as UBS upgrades on 'amplified' growth potential ** Tyson Foods TSN.N: down 2.5% BUZZ-Falls as China suspends poultry imports from Arkansas plant ** Nabriva Therapeutics NBRV.O: down 4.0% BUZZ-Plunges as COVID-19 curbs thwart approval of antibiotic ** American Airlines AAL.O: down 5.9% BUZZ-Drops as co announces equity, debt recap ** Myomo Inc MYO.A: up 3.2% BUZZ-Gains on restarting device deliveries ** Gap Inc GPS.N: up 8.1% BUZZ-Gains on Wells Fargo's 'overweight' rating ** Campbell Soup CPB.N: up 1.3% ** Conagra Brands CAG.N: up 2.4% BUZZ-Jefferies sees appetite post-COVID for food producers, upgrades ** Virgin Galactic SPCE.N: up 13.6% BUZZ-Flies on agreement with NASA ** Broadcom Inc AVGO.O: up 3.0% BUZZ-Mizuho hikes PT on growth prospects ** Evoke Pharma EVOK.O: up 70.9% BUZZ-Set for best day after FDA approves co's nasal spray ** Evelo Biosciences EVLO.O: up 17.0% BUZZ-Soars after therapy included in COVID-19 trial ** Livent Corp LTHM.N: down 18.5% BUZZ-Falls as lithium producer launches $225 mln convertible deal ** Nio Inc NIO.N: up 3.9% BUZZ-Tesla challenger Nio accelerates after Tencent discloses stake ** Luckin Coffee LK.O: down 16.5% BUZZ-Luckin shareholders to vote on ousting Chairman Lu, shares fall ** Fuling Global FORK.O: up 5.2% BUZZ-Jumps on take-private offer ** Invitae Corp NVTA.N: up 39.7% BUZZ-Up on deal to buy genomic analysis company ** Bed Bath & Beyond BBBY.O: up 4.5% BUZZ-Up on liquidity boost, plan to reopen most stores by July ** 21Vianet VNET.O: up 11.7% BUZZ-Rises on $150 mln investment from Blackstone ** Zscaler Inc ZS.O: up 1.0% BUZZ-Rises after co announces $1 bln convertible; Needham sets Street-high PT ** Theratechnologies THTX.O: up 16.6% BUZZ-Jumps on positive data for cancer treatment technology ** Ideanomics IDEX.O: up 56.1% BUZZ-Rises on $3.4 mln electric vehicle supply deal ** GDS Holdings GDS.O: up 2.7% BUZZ-Rises as existing investors to buy $505 mln in shares ** Neonode NEON.O: up 17.2% BUZZ-Jumps as Yesar Electronics selects company's sensor modules ** Yintech Investment YIN.O: up 20.0% BUZZ-Soars on go-private proposal ** Five Prime Therapeutics FPRX.O: up 37.3% BUZZ-Jumps as Wedbush upgrades to 'outperform' ** Royal Carribean Cruises RCL.N: down 5.7% BUZZ-Cruise operators fall as Carnival further extends voyage suspension ** TripAdvisor TRIP.O: down 0.9% BUZZ-Falls after flagging quarterly loss on virus hit ** Nike Inc NKE.N: up 3.3% BUZZ-Gains as brokerages expect China sales to bounce back ** SciPlay Corp SCPL.O: up 2.1% BUZZ-Rises on acquiring mobile gaming firm Come2Play ** Western Digital WDC.O: up 1.2% BUZZ-Brokerage upgrades on demand bump for storage drives The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Technology stocks pushed Wall Street's main indexes higher on Monday but sentiment remained fragile as a spike in coronavirus cases in the United States and other major economies fueled fears of a setback to the nascent economic recovery. up 1.45% (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
The top three S&P 500 .PG.INX percentage gainers: ** Gap Inc GPS.N, up 8.1% ** Chipotle Mexican Grill CMG.N, up 5.3% ** The Aes Corp AES.N, up 5.2% The top three S&P 500 .PL.INX percentage losers: ** American Airlines Group AAL.OQ, down 5.9% ** Royal Caribbean Cruises RCL.N, down 5.7% ** Norwegian Cruise Line NCLH.N, down 5.3% The top three NYSE .PG.N percentage gainers: ** Companhia Energetica de Minas Gerais-CEMIG CIGc.N, up 47.4% ** Invitae Corp NVTA.N, up 39.8% ** Tortose Acquisition Corp SHLL.N, up 24.6% The top three NYSE .PL.N percentage losers: ** Ntn Buzztime NTN.N, down 25.4% ** Cohen & Compny COHN.N, down 21.7% ** Livent Corp LTHM.N, down 18.5% The top three Nasdaq .PG.O percentage gainers: ** Sintx Tchnologiess SINT.O, up 175% ** Evoke Pharma EVOK.O, up 70.9% ** Ideanomics Inc IDEX.O, up 52.7% The top three Nasdaq .PL.O percentage losers: ** Urban One Inc UONE.O, down 40.7% ** 9F Inc JFU.O, down 29.3% ** Urban One Inc UONEK.O, down 27.7% ** Alkaline Water WTER.O: up 6.8% BUZZ-Rises on launch of direct-to-consumer website ** Walmart Inc WMT.N: up 1.2% BUZZ-Rises as UBS upgrades on 'amplified' growth potential ** Tyson Foods TSN.N: down 2.5% BUZZ-Falls as China suspends poultry imports from Arkansas plant ** Nabriva Therapeutics NBRV.O: down 4.0% BUZZ-Plunges as COVID-19 curbs thwart approval of antibiotic ** American Airlines AAL.O: down 5.9% BUZZ-Drops as co announces equity, debt recap ** Myomo Inc MYO.A: up 3.2% BUZZ-Gains on restarting device deliveries ** Gap Inc GPS.N: up 8.1% BUZZ-Gains on Wells Fargo's 'overweight' rating ** Campbell Soup CPB.N: up 1.3% ** Conagra Brands CAG.N: up 2.4% BUZZ-Jefferies sees appetite post-COVID for food producers, upgrades ** Virgin Galactic SPCE.N: up 13.6% BUZZ-Flies on agreement with NASA ** Broadcom Inc AVGO.O: up 3.0% BUZZ-Mizuho hikes PT on growth prospects ** Evoke Pharma EVOK.O: up 70.9% BUZZ-Set for best day after FDA approves co's nasal spray ** Evelo Biosciences EVLO.O: up 17.0% BUZZ-Soars after therapy included in COVID-19 trial ** Livent Corp LTHM.N: down 18.5% BUZZ-Falls as lithium producer launches $225 mln convertible deal ** Nio Inc NIO.N: up 3.9% BUZZ-Tesla challenger Nio accelerates after Tencent discloses stake ** Luckin Coffee LK.O: down 16.5% BUZZ-Luckin shareholders to vote on ousting Chairman Lu, shares fall ** Fuling Global FORK.O: up 5.2% BUZZ-Jumps on take-private offer ** Invitae Corp NVTA.N: up 39.7% BUZZ-Up on deal to buy genomic analysis company ** Bed Bath & Beyond BBBY.O: up 4.5% BUZZ-Up on liquidity boost, plan to reopen most stores by July ** 21Vianet VNET.O: up 11.7% BUZZ-Rises on $150 mln investment from Blackstone ** Zscaler Inc ZS.O: up 1.0% BUZZ-Rises after co announces $1 bln convertible; Needham sets Street-high PT ** Theratechnologies THTX.O: up 16.6% BUZZ-Jumps on positive data for cancer treatment technology ** Ideanomics IDEX.O: up 56.1% BUZZ-Rises on $3.4 mln electric vehicle supply deal ** GDS Holdings GDS.O: up 2.7% BUZZ-Rises as existing investors to buy $505 mln in shares ** Neonode NEON.O: up 17.2% BUZZ-Jumps as Yesar Electronics selects company's sensor modules ** Yintech Investment YIN.O: up 20.0% BUZZ-Soars on go-private proposal ** Five Prime Therapeutics FPRX.O: up 37.3% BUZZ-Jumps as Wedbush upgrades to 'outperform' ** Royal Carribean Cruises RCL.N: down 5.7% BUZZ-Cruise operators fall as Carnival further extends voyage suspension ** TripAdvisor TRIP.O: down 0.9% BUZZ-Falls after flagging quarterly loss on virus hit ** Nike Inc NKE.N: up 3.3% BUZZ-Gains as brokerages expect China sales to bounce back ** SciPlay Corp SCPL.O: up 2.1% BUZZ-Rises on acquiring mobile gaming firm Come2Play ** Western Digital WDC.O: up 1.2% BUZZ-Brokerage upgrades on demand bump for storage drives The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Technology stocks pushed Wall Street's main indexes higher on Monday but sentiment remained fragile as a spike in coronavirus cases in the United States and other major economies fueled fears of a setback to the nascent economic recovery. up 1.45% (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Gap Inc GPS.N, up 8.1% ** Chipotle Mexican Grill CMG.N, up 5.3% ** The Aes Corp AES.N, up 5.2% The top three S&P 500 .PL.INX percentage losers: ** American Airlines Group AAL.OQ, down 5.9% ** Royal Caribbean Cruises RCL.N, down 5.7% ** Norwegian Cruise Line NCLH.N, down 5.3% The top three NYSE .PG.N percentage gainers: ** Companhia Energetica de Minas Gerais-CEMIG CIGc.N, up 47.4% ** Invitae Corp NVTA.N, up 39.8% ** Tortose Acquisition Corp SHLL.N, up 24.6% The top three NYSE .PL.N percentage losers: ** Ntn Buzztime NTN.N, down 25.4% ** Cohen & Compny COHN.N, down 21.7% ** Livent Corp LTHM.N, down 18.5% The top three Nasdaq .PG.O percentage gainers: ** Sintx Tchnologiess SINT.O, up 175% ** Evoke Pharma EVOK.O, up 70.9% ** Ideanomics Inc IDEX.O, up 52.7% The top three Nasdaq .PL.O percentage losers: ** Urban One Inc UONE.O, down 40.7% ** 9F Inc JFU.O, down 29.3% ** Urban One Inc UONEK.O, down 27.7% ** Alkaline Water WTER.O: up 6.8% BUZZ-Rises on launch of direct-to-consumer website ** Walmart Inc WMT.N: up 1.2% BUZZ-Rises as UBS upgrades on 'amplified' growth potential ** Tyson Foods TSN.N: down 2.5% BUZZ-Falls as China suspends poultry imports from Arkansas plant ** Nabriva Therapeutics NBRV.O: down 4.0% BUZZ-Plunges as COVID-19 curbs thwart approval of antibiotic ** American Airlines AAL.O: down 5.9% BUZZ-Drops as co announces equity, debt recap ** Myomo Inc MYO.A: up 3.2% BUZZ-Gains on restarting device deliveries ** Gap Inc GPS.N: up 8.1% BUZZ-Gains on Wells Fargo's 'overweight' rating ** Campbell Soup CPB.N: up 1.3% ** Conagra Brands CAG.N: up 2.4% BUZZ-Jefferies sees appetite post-COVID for food producers, upgrades ** Virgin Galactic SPCE.N: up 13.6% BUZZ-Flies on agreement with NASA ** Broadcom Inc AVGO.O: up 3.0% BUZZ-Mizuho hikes PT on growth prospects ** Evoke Pharma EVOK.O: up 70.9% BUZZ-Set for best day after FDA approves co's nasal spray ** Evelo Biosciences EVLO.O: up 17.0% BUZZ-Soars after therapy included in COVID-19 trial ** Livent Corp LTHM.N: down 18.5% BUZZ-Falls as lithium producer launches $225 mln convertible deal ** Nio Inc NIO.N: up 3.9% BUZZ-Tesla challenger Nio accelerates after Tencent discloses stake ** Luckin Coffee LK.O: down 16.5% BUZZ-Luckin shareholders to vote on ousting Chairman Lu, shares fall ** Fuling Global FORK.O: up 5.2% BUZZ-Jumps on take-private offer ** Invitae Corp NVTA.N: up 39.7% BUZZ-Up on deal to buy genomic analysis company ** Bed Bath & Beyond BBBY.O: up 4.5% BUZZ-Up on liquidity boost, plan to reopen most stores by July ** 21Vianet VNET.O: up 11.7% BUZZ-Rises on $150 mln investment from Blackstone ** Zscaler Inc ZS.O: up 1.0% BUZZ-Rises after co announces $1 bln convertible; Needham sets Street-high PT ** Theratechnologies THTX.O: up 16.6% BUZZ-Jumps on positive data for cancer treatment technology ** Ideanomics IDEX.O: up 56.1% BUZZ-Rises on $3.4 mln electric vehicle supply deal ** GDS Holdings GDS.O: up 2.7% BUZZ-Rises as existing investors to buy $505 mln in shares ** Neonode NEON.O: up 17.2% BUZZ-Jumps as Yesar Electronics selects company's sensor modules ** Yintech Investment YIN.O: up 20.0% BUZZ-Soars on go-private proposal ** Five Prime Therapeutics FPRX.O: up 37.3% BUZZ-Jumps as Wedbush upgrades to 'outperform' ** Royal Carribean Cruises RCL.N: down 5.7% BUZZ-Cruise operators fall as Carnival further extends voyage suspension ** TripAdvisor TRIP.O: down 0.9% BUZZ-Falls after flagging quarterly loss on virus hit ** Nike Inc NKE.N: up 3.3% BUZZ-Gains as brokerages expect China sales to bounce back ** SciPlay Corp SCPL.O: up 2.1% BUZZ-Rises on acquiring mobile gaming firm Come2Play ** Western Digital WDC.O: up 1.2% BUZZ-Brokerage upgrades on demand bump for storage drives The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Technology stocks pushed Wall Street's main indexes higher on Monday but sentiment remained fragile as a spike in coronavirus cases in the United States and other major economies fueled fears of a setback to the nascent economic recovery. .N At 13:00 ET, the Dow Jones Industrial Average .DJI was up 0.53% at 26,009.08.
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The top three S&P 500 .PG.INX percentage gainers: ** Gap Inc GPS.N, up 8.1% ** Chipotle Mexican Grill CMG.N, up 5.3% ** The Aes Corp AES.N, up 5.2% The top three S&P 500 .PL.INX percentage losers: ** American Airlines Group AAL.OQ, down 5.9% ** Royal Caribbean Cruises RCL.N, down 5.7% ** Norwegian Cruise Line NCLH.N, down 5.3% The top three NYSE .PG.N percentage gainers: ** Companhia Energetica de Minas Gerais-CEMIG CIGc.N, up 47.4% ** Invitae Corp NVTA.N, up 39.8% ** Tortose Acquisition Corp SHLL.N, up 24.6% The top three NYSE .PL.N percentage losers: ** Ntn Buzztime NTN.N, down 25.4% ** Cohen & Compny COHN.N, down 21.7% ** Livent Corp LTHM.N, down 18.5% The top three Nasdaq .PG.O percentage gainers: ** Sintx Tchnologiess SINT.O, up 175% ** Evoke Pharma EVOK.O, up 70.9% ** Ideanomics Inc IDEX.O, up 52.7% The top three Nasdaq .PL.O percentage losers: ** Urban One Inc UONE.O, down 40.7% ** 9F Inc JFU.O, down 29.3% ** Urban One Inc UONEK.O, down 27.7% ** Alkaline Water WTER.O: up 6.8% BUZZ-Rises on launch of direct-to-consumer website ** Walmart Inc WMT.N: up 1.2% BUZZ-Rises as UBS upgrades on 'amplified' growth potential ** Tyson Foods TSN.N: down 2.5% BUZZ-Falls as China suspends poultry imports from Arkansas plant ** Nabriva Therapeutics NBRV.O: down 4.0% BUZZ-Plunges as COVID-19 curbs thwart approval of antibiotic ** American Airlines AAL.O: down 5.9% BUZZ-Drops as co announces equity, debt recap ** Myomo Inc MYO.A: up 3.2% BUZZ-Gains on restarting device deliveries ** Gap Inc GPS.N: up 8.1% BUZZ-Gains on Wells Fargo's 'overweight' rating ** Campbell Soup CPB.N: up 1.3% ** Conagra Brands CAG.N: up 2.4% BUZZ-Jefferies sees appetite post-COVID for food producers, upgrades ** Virgin Galactic SPCE.N: up 13.6% BUZZ-Flies on agreement with NASA ** Broadcom Inc AVGO.O: up 3.0% BUZZ-Mizuho hikes PT on growth prospects ** Evoke Pharma EVOK.O: up 70.9% BUZZ-Set for best day after FDA approves co's nasal spray ** Evelo Biosciences EVLO.O: up 17.0% BUZZ-Soars after therapy included in COVID-19 trial ** Livent Corp LTHM.N: down 18.5% BUZZ-Falls as lithium producer launches $225 mln convertible deal ** Nio Inc NIO.N: up 3.9% BUZZ-Tesla challenger Nio accelerates after Tencent discloses stake ** Luckin Coffee LK.O: down 16.5% BUZZ-Luckin shareholders to vote on ousting Chairman Lu, shares fall ** Fuling Global FORK.O: up 5.2% BUZZ-Jumps on take-private offer ** Invitae Corp NVTA.N: up 39.7% BUZZ-Up on deal to buy genomic analysis company ** Bed Bath & Beyond BBBY.O: up 4.5% BUZZ-Up on liquidity boost, plan to reopen most stores by July ** 21Vianet VNET.O: up 11.7% BUZZ-Rises on $150 mln investment from Blackstone ** Zscaler Inc ZS.O: up 1.0% BUZZ-Rises after co announces $1 bln convertible; Needham sets Street-high PT ** Theratechnologies THTX.O: up 16.6% BUZZ-Jumps on positive data for cancer treatment technology ** Ideanomics IDEX.O: up 56.1% BUZZ-Rises on $3.4 mln electric vehicle supply deal ** GDS Holdings GDS.O: up 2.7% BUZZ-Rises as existing investors to buy $505 mln in shares ** Neonode NEON.O: up 17.2% BUZZ-Jumps as Yesar Electronics selects company's sensor modules ** Yintech Investment YIN.O: up 20.0% BUZZ-Soars on go-private proposal ** Five Prime Therapeutics FPRX.O: up 37.3% BUZZ-Jumps as Wedbush upgrades to 'outperform' ** Royal Carribean Cruises RCL.N: down 5.7% BUZZ-Cruise operators fall as Carnival further extends voyage suspension ** TripAdvisor TRIP.O: down 0.9% BUZZ-Falls after flagging quarterly loss on virus hit ** Nike Inc NKE.N: up 3.3% BUZZ-Gains as brokerages expect China sales to bounce back ** SciPlay Corp SCPL.O: up 2.1% BUZZ-Rises on acquiring mobile gaming firm Come2Play ** Western Digital WDC.O: up 1.2% BUZZ-Brokerage upgrades on demand bump for storage drives The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Technology stocks pushed Wall Street's main indexes higher on Monday but sentiment remained fragile as a spike in coronavirus cases in the United States and other major economies fueled fears of a setback to the nascent economic recovery. .N At 13:00 ET, the Dow Jones Industrial Average .DJI was up 0.53% at 26,009.08.
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6f5be682-ebfc-4e4d-9a39-3eb021164868
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5649.0
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2020-06-22 00:00:00 UTC
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American Airlines Looks to Tap Equity and Debt Markets for More Financing
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AAL
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https://www.nasdaq.com/articles/american-airlines-looks-to-tap-equity-and-debt-markets-for-more-financing-2020-06-22
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nan
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nan
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In a June 12 SEC filing, American Airlines Group (NASDAQ: AAL) said its cash burn rate would be better than expected for the month of June, at $40 million per day. It also said that it sought to have the burn rate to zero by the end of 2020. In that filing, the airline said it expected to have $11 billion in liquidity as of June 30.
But apparently the company doesn't feel like that is sufficient. Yesterday, it announced it is seeking $3.5 billion in new financing through a combination of a common stock equity offering, as well as convertible note and bond offerings along with a new term loan facility.
Image source: Getty Images.
American has said it is seeing an uptick in demand, predicting domestic capacity will be at 55% of last year's level in July, compared to the 25% it recorded in May. The expected $11 billion in liquidity at the of June includes $5.8 billion in federal aid from the Payroll Support Program (PSP) portion of the CARES Act, as well as another $4.75 billion loan from the U.S. Treasury it expects to receive this month.
The new financing includes $1.5 billion of senior secured notes due in 2025, plus a new $500 million term loan facility. The company said it plans to use some of the proceeds and borrowings to refinance a previous term loan facility that is due to expire in March 2021. The remainder of the new financing is comprised of a common stock offering, and convertible notes offering, totaling $1.5 billion.
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Howard Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In a June 12 SEC filing, American Airlines Group (NASDAQ: AAL) said its cash burn rate would be better than expected for the month of June, at $40 million per day. American has said it is seeing an uptick in demand, predicting domestic capacity will be at 55% of last year's level in July, compared to the 25% it recorded in May. The company said it plans to use some of the proceeds and borrowings to refinance a previous term loan facility that is due to expire in March 2021.
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In a June 12 SEC filing, American Airlines Group (NASDAQ: AAL) said its cash burn rate would be better than expected for the month of June, at $40 million per day. The new financing includes $1.5 billion of senior secured notes due in 2025, plus a new $500 million term loan facility. The remainder of the new financing is comprised of a common stock offering, and convertible notes offering, totaling $1.5 billion.
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In a June 12 SEC filing, American Airlines Group (NASDAQ: AAL) said its cash burn rate would be better than expected for the month of June, at $40 million per day. Yesterday, it announced it is seeking $3.5 billion in new financing through a combination of a common stock equity offering, as well as convertible note and bond offerings along with a new term loan facility. The expected $11 billion in liquidity at the of June includes $5.8 billion in federal aid from the Payroll Support Program (PSP) portion of the CARES Act, as well as another $4.75 billion loan from the U.S. Treasury it expects to receive this month.
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In a June 12 SEC filing, American Airlines Group (NASDAQ: AAL) said its cash burn rate would be better than expected for the month of June, at $40 million per day. The new financing includes $1.5 billion of senior secured notes due in 2025, plus a new $500 million term loan facility. * David and Tom 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!
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5e7a2ea4-102a-413d-983d-433e940c01de
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5650.0
|
2020-06-22 00:00:00 UTC
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S&P 500 Movers: AAL, GPS
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AAL
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https://www.nasdaq.com/articles/sp-500-movers%3A-aal-gps-2020-06-22
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nan
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nan
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In early trading on Monday, shares of The Gap topped the list of the day's best performing components of the S&P 500 index, trading up 7.9%. Year to date, The Gap has lost about 34.9% of its value.
And the worst performing S&P 500 component thus far on the day is American Airlines Group, trading down 4.0%. American Airlines Group is lower by about 46.5% looking at the year to date performance.
Two other components making moves today are Regeneron Pharmaceuticals, trading down 3.5%, and Newmont, trading up 4.6% on the day.
VIDEO: S&P 500 Movers: AAL, GPS
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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VIDEO: S&P 500 Movers: AAL, GPS The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. And the worst performing S&P 500 component thus far on the day is American Airlines Group, trading down 4.0%. American Airlines Group is lower by about 46.5% looking at the year to date performance.
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VIDEO: S&P 500 Movers: AAL, GPS 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 The Gap topped the list of the day's best performing components of the S&P 500 index, trading up 7.9%. And the worst performing S&P 500 component thus far on the day is American Airlines Group, trading down 4.0%.
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VIDEO: S&P 500 Movers: AAL, GPS 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 The Gap topped the list of the day's best performing components of the S&P 500 index, trading up 7.9%. And the worst performing S&P 500 component thus far on the day is American Airlines Group, trading down 4.0%.
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VIDEO: S&P 500 Movers: AAL, GPS The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. And the worst performing S&P 500 component thus far on the day is American Airlines Group, trading down 4.0%. American Airlines Group is lower by about 46.5% looking at the year to date performance.
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f7fb47a6-a8de-48e1-82aa-704a93025dbe
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5651.0
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2020-06-22 00:00:00 UTC
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Wall Street flat as virus cases rise; tech stocks advance
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AAL
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https://www.nasdaq.com/articles/wall-street-flat-as-virus-cases-rise-tech-stocks-advance-2020-06-22
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By Medha Singh
June 22 (Reuters) - The S&P 500 and Dow Jones indexes were largely flat on Monday as investors weighed the implications of rising coronavirus infections for business activity while the tech-heavy Nasdaq rose for a seventh session.
The World Health Organization reported a record rise in global coronavirus cases on Sunday, driving demand for perceived safe-havens, including gold and longer-term U.S. Treasuries.
Travel-related stocks, one of the worst-hit sectors due to the outbreak, fell. The S&P 1500 airlines index .SPCOMAIR dropped 2.1%, while shares of cruise operators Norwegian Cruise Line NCLH.N and Royal Caribbean Cruises RCL.N tumbled about 8% each.
"Investors are keeping a keen eye on how the consumer behavior adjusts itself to the rise in cases," said Keith Buchanan, portfolio manager at GLOBALT in Atlanta.
"Unless we see consumer confidence get back and resume activities, it might definitely create some anxiety on how the market looks at risk assets."
The S&P 500 is trading in a tight range of late as several U.S. states, mainly in the West and South, have reported a surge in cases, with Apple Inc's AAPL.O move to temporarily shut some U.S. stores again on Friday underscoring concerns of a delay in the recovery.
The benchmark index has climbed some 40% from its March lows thanks to trillions of dollars in monetary and fiscal support, the reopening of businesses and improving economic data.
It is now just about 9% off its Feb. 19 record high.
Technology stocks .SPLRCT, which have powered much of the rebound, provided the biggest boost to the benchmark index. Five of the 11 major S&P sectors were higher.
At 11:21 a.m. ET, the Dow Jones Industrial Average .DJI was down 12.29 points, or 0.05%, at 25,859.17, the S&P 500 .SPX was up 2.24 points, or 0.07%, at 3,099.98. The Nasdaq Composite .IXIC was up 41.66 points, or 0.42%, at 9,987.78.
U.S.-based meat processor Tyson Inc TSN.N slipped 3.5% as China's customs authority suspended imports of poultry products from a plant owned by the company that had been hit by the coronavirus.
American Airlines Group Inc AAL.O fell 6.8% as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity.
Virgin Galactic Holdings Inc SPCE.N soared 10.1% as it signed up with NASA to develop a program to promote private missions to the International Space Station.
Declining issues outnumbered advancers for a 1.32-to-1 ratio on the NYSE and for a 1.26-to-1 ratio on the Nasdaq.
The S&P index recorded seven new 52-week highs and no new low, while the Nasdaq recorded 84 new highs and six new lows.
(Reporting by Medha Singh and Shashank Nayar in Bengaluru; Editing by Arun Koyyur and Sriraj Kalluvila)
((Medha.Singh@thomsonreuters.com; within U.S. +1646 223 8780, outside U.S. +91 80 6749 1130; Twitter: https://twitter.com/medhasinghs))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group Inc AAL.O fell 6.8% as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity. By Medha Singh June 22 (Reuters) - The S&P 500 and Dow Jones indexes were largely flat on Monday as investors weighed the implications of rising coronavirus infections for business activity while the tech-heavy Nasdaq rose for a seventh session. The World Health Organization reported a record rise in global coronavirus cases on Sunday, driving demand for perceived safe-havens, including gold and longer-term U.S. Treasuries.
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American Airlines Group Inc AAL.O fell 6.8% as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity. By Medha Singh June 22 (Reuters) - The S&P 500 and Dow Jones indexes were largely flat on Monday as investors weighed the implications of rising coronavirus infections for business activity while the tech-heavy Nasdaq rose for a seventh session. The World Health Organization reported a record rise in global coronavirus cases on Sunday, driving demand for perceived safe-havens, including gold and longer-term U.S. Treasuries.
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American Airlines Group Inc AAL.O fell 6.8% as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity. By Medha Singh June 22 (Reuters) - The S&P 500 and Dow Jones indexes were largely flat on Monday as investors weighed the implications of rising coronavirus infections for business activity while the tech-heavy Nasdaq rose for a seventh session. The S&P index recorded seven new 52-week highs and no new low, while the Nasdaq recorded 84 new highs and six new lows.
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American Airlines Group Inc AAL.O fell 6.8% as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity. Travel-related stocks, one of the worst-hit sectors due to the outbreak, fell. It is now just about 9% off its Feb. 19 record high.
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a79d3163-f74a-4fae-80e1-6df237a6bdf7
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5652.0
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2020-06-22 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Luckin Coffee, Fuling Global, Invitae Corp
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AAL
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-luckin-coffee-fuling-global-invitae-corp-2020-06-22
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nan
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nan
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Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
U.S. stocks opened sightly lower on Monday as concerns of a resurgence in coronavirus infections fueled worries of another setback to business activity. .N
At 9:30 ET, the Dow Jones Industrial Average .DJI was down 0.57% at 25,722.91. The S&P 500 .SPX was down 0.39% at 3,085.54 and the Nasdaq Composite .IXIC was down 0.07% at 9,939.337. The top three S&P 500 .PG.INX percentage gainers: ** Gap Inc , up 6.5% ** Newmont Corp , up 3.6% ** Conagra Brands , up 2.4% The top three S&P 500 .PL.INX percentage losers: ** American Airlines Group , down 6.3% ** Norwegian Cruise Line , down 5.9% ** Royal Caribbean Cruises , down 5.3% The top three NYSE .PG.N percentage gainers: ** Companhia Energetica de Minas Gerais , up 67.6% ** Tortose Acquisition Corp , up 25.5% ** Invitae Corp , up 27.4% The top three NYSE .PL.N percentage losers: ** NTN Buzztime Inc , down 24.8% ** Livent Corp , down 15.4% ** Medley Llc , down 9.3% The top three Nasdaq .PG.O percentage gainers: ** Sintx Tchnologies Inc , up 227.4% ** Evoke Pharma , up 85.9% ** Ideanomics Inc , up 28.6% The top three Nasdaq .PL.O percentage losers: ** Urban One Inc , down 28.3% ** Urban One Inc , down 23.6% ** Torm Plc , down 20% ** Walmart Inc WMT.N: up 1.1%
BUZZ-UBS sees era of amplified growth, upgrades to 'buy' ** Tyson Foods TSN.N: down 2.4%
BUZZ-Falls as China suspends poultry imports from Arkansas plant ** Nabriva Therapeutics NBRV.O: down 12.8%
BUZZ-Plunges as COVID-19 curbs thwart approval of antibiotic ** American Airlines AAL.O: down 6.2%
BUZZ-Drops as co announces equity, debt recap ** Gap Inc GPS.N: up 6.6%
BUZZ-Gains on Wells Fargo's 'overweight' rating ** Campbell Soup CPB.N: up 2.0% ** Conagra Brands CAG.N: up 2.4%
BUZZ-Jefferies sees appetite post-COVID for food producers, upgrades ** Virgin Galactic SPCE.N: up 11.5%
BUZZ-Flies on agreement with NASA ** Broadcom Inc AVGO.O: up 0.5%
BUZZ-Mizuho hikes PT on growth prospects ** Evoke Pharma EVOK.O: up 85.9%
BUZZ-Set for best day after FDA approves co's nasal spray ** Evelo Biosciences EVLO.O: up 9.1%
BUZZ-Soars after therapy included in COVID-19 trial ** Livent Corp LTHM.N: down 15.4%
BUZZ-Falls as lithium producer launches $225 mln convertible deal ** Nio Inc NIO.N: up 3.7%
BUZZ-Tesla challenger Nio accelerates after Tencent discloses stake ** Luckin Coffee LK.O: down 10.7%
BUZZ-Luckin shareholders to vote on ousting Chairman Lu, shares fall ** Fuling Global FORK.O: up 6.4%
BUZZ-Jumps on take-private offer ** Invitae Corp NVTA.N: up 27.5%
BUZZ-Up on deal to buy genomic analysis company ** 21Vianet VNET.O: up 17.1%
BUZZ-Rises on $150 mln investment from Blackstone ** Alaska Air ALK.N: down 2.5%
BUZZ-Skids on bleak demand outlook ** Biocept BIOC.O: up 2.5%
BUZZ-Shares up on COVID-19 testing kit availability
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
down 0.15%
Consumer Discretionary
.SPLRCD
down 0.24%
Consumer Staples
.SPLRCS
down 0.23%
Energy
.SPNY
down 1.33%
Financial
.SPSY
down 1.08%
Health
.SPXHC
down 0.69%
Industrial
.SPLRCI
down 1.14%
Information Technology
.SPLRCT
up 0.21%
Materials
.SPLRCM
down 0.59%
Real Estate
.SPLRCR
down 1.07%
Utilities
.SPLRCU
down 0.22%
(Compiled by Shivani Kumaresan in Bengaluru)
((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Gap Inc , up 6.5% ** Newmont Corp , up 3.6% ** Conagra Brands , up 2.4% The top three S&P 500 .PL.INX percentage losers: ** American Airlines Group , down 6.3% ** Norwegian Cruise Line , down 5.9% ** Royal Caribbean Cruises , down 5.3% The top three NYSE .PG.N percentage gainers: ** Companhia Energetica de Minas Gerais , up 67.6% ** Tortose Acquisition Corp , up 25.5% ** Invitae Corp , up 27.4% The top three NYSE .PL.N percentage losers: ** NTN Buzztime Inc , down 24.8% ** Livent Corp , down 15.4% ** Medley Llc , down 9.3% The top three Nasdaq .PG.O percentage gainers: ** Sintx Tchnologies Inc , up 227.4% ** Evoke Pharma , up 85.9% ** Ideanomics Inc , up 28.6% The top three Nasdaq .PL.O percentage losers: ** Urban One Inc , down 28.3% ** Urban One Inc , down 23.6% ** Torm Plc , down 20% ** Walmart Inc WMT.N: up 1.1% BUZZ-UBS sees era of amplified growth, upgrades to 'buy' ** Tyson Foods TSN.N: down 2.4% BUZZ-Falls as China suspends poultry imports from Arkansas plant ** Nabriva Therapeutics NBRV.O: down 12.8% BUZZ-Plunges as COVID-19 curbs thwart approval of antibiotic ** American Airlines AAL.O: down 6.2% BUZZ-Drops as co announces equity, debt recap ** Gap Inc GPS.N: up 6.6% BUZZ-Gains on Wells Fargo's 'overweight' rating ** Campbell Soup CPB.N: up 2.0% ** Conagra Brands CAG.N: up 2.4% BUZZ-Jefferies sees appetite post-COVID for food producers, upgrades ** Virgin Galactic SPCE.N: up 11.5% BUZZ-Flies on agreement with NASA ** Broadcom Inc AVGO.O: up 0.5% BUZZ-Mizuho hikes PT on growth prospects ** Evoke Pharma EVOK.O: up 85.9% BUZZ-Set for best day after FDA approves co's nasal spray ** Evelo Biosciences EVLO.O: up 9.1% BUZZ-Soars after therapy included in COVID-19 trial ** Livent Corp LTHM.N: down 15.4% BUZZ-Falls as lithium producer launches $225 mln convertible deal ** Nio Inc NIO.N: up 3.7% BUZZ-Tesla challenger Nio accelerates after Tencent discloses stake ** Luckin Coffee LK.O: down 10.7% BUZZ-Luckin shareholders to vote on ousting Chairman Lu, shares fall ** Fuling Global FORK.O: up 6.4% BUZZ-Jumps on take-private offer ** Invitae Corp NVTA.N: up 27.5% BUZZ-Up on deal to buy genomic analysis company ** 21Vianet VNET.O: up 17.1% BUZZ-Rises on $150 mln investment from Blackstone ** Alaska Air ALK.N: down 2.5% BUZZ-Skids on bleak demand outlook ** Biocept BIOC.O: up 2.5% BUZZ-Shares up on COVID-19 testing kit availability The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stocks opened sightly lower on Monday as concerns of a resurgence in coronavirus infections fueled worries of another setback to business activity. down 0.22% (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Gap Inc , up 6.5% ** Newmont Corp , up 3.6% ** Conagra Brands , up 2.4% The top three S&P 500 .PL.INX percentage losers: ** American Airlines Group , down 6.3% ** Norwegian Cruise Line , down 5.9% ** Royal Caribbean Cruises , down 5.3% The top three NYSE .PG.N percentage gainers: ** Companhia Energetica de Minas Gerais , up 67.6% ** Tortose Acquisition Corp , up 25.5% ** Invitae Corp , up 27.4% The top three NYSE .PL.N percentage losers: ** NTN Buzztime Inc , down 24.8% ** Livent Corp , down 15.4% ** Medley Llc , down 9.3% The top three Nasdaq .PG.O percentage gainers: ** Sintx Tchnologies Inc , up 227.4% ** Evoke Pharma , up 85.9% ** Ideanomics Inc , up 28.6% The top three Nasdaq .PL.O percentage losers: ** Urban One Inc , down 28.3% ** Urban One Inc , down 23.6% ** Torm Plc , down 20% ** Walmart Inc WMT.N: up 1.1% BUZZ-UBS sees era of amplified growth, upgrades to 'buy' ** Tyson Foods TSN.N: down 2.4% BUZZ-Falls as China suspends poultry imports from Arkansas plant ** Nabriva Therapeutics NBRV.O: down 12.8% BUZZ-Plunges as COVID-19 curbs thwart approval of antibiotic ** American Airlines AAL.O: down 6.2% BUZZ-Drops as co announces equity, debt recap ** Gap Inc GPS.N: up 6.6% BUZZ-Gains on Wells Fargo's 'overweight' rating ** Campbell Soup CPB.N: up 2.0% ** Conagra Brands CAG.N: up 2.4% BUZZ-Jefferies sees appetite post-COVID for food producers, upgrades ** Virgin Galactic SPCE.N: up 11.5% BUZZ-Flies on agreement with NASA ** Broadcom Inc AVGO.O: up 0.5% BUZZ-Mizuho hikes PT on growth prospects ** Evoke Pharma EVOK.O: up 85.9% BUZZ-Set for best day after FDA approves co's nasal spray ** Evelo Biosciences EVLO.O: up 9.1% BUZZ-Soars after therapy included in COVID-19 trial ** Livent Corp LTHM.N: down 15.4% BUZZ-Falls as lithium producer launches $225 mln convertible deal ** Nio Inc NIO.N: up 3.7% BUZZ-Tesla challenger Nio accelerates after Tencent discloses stake ** Luckin Coffee LK.O: down 10.7% BUZZ-Luckin shareholders to vote on ousting Chairman Lu, shares fall ** Fuling Global FORK.O: up 6.4% BUZZ-Jumps on take-private offer ** Invitae Corp NVTA.N: up 27.5% BUZZ-Up on deal to buy genomic analysis company ** 21Vianet VNET.O: up 17.1% BUZZ-Rises on $150 mln investment from Blackstone ** Alaska Air ALK.N: down 2.5% BUZZ-Skids on bleak demand outlook ** Biocept BIOC.O: up 2.5% BUZZ-Shares up on COVID-19 testing kit availability The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stocks opened sightly lower on Monday as concerns of a resurgence in coronavirus infections fueled worries of another setback to business activity. down 0.22% (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Gap Inc , up 6.5% ** Newmont Corp , up 3.6% ** Conagra Brands , up 2.4% The top three S&P 500 .PL.INX percentage losers: ** American Airlines Group , down 6.3% ** Norwegian Cruise Line , down 5.9% ** Royal Caribbean Cruises , down 5.3% The top three NYSE .PG.N percentage gainers: ** Companhia Energetica de Minas Gerais , up 67.6% ** Tortose Acquisition Corp , up 25.5% ** Invitae Corp , up 27.4% The top three NYSE .PL.N percentage losers: ** NTN Buzztime Inc , down 24.8% ** Livent Corp , down 15.4% ** Medley Llc , down 9.3% The top three Nasdaq .PG.O percentage gainers: ** Sintx Tchnologies Inc , up 227.4% ** Evoke Pharma , up 85.9% ** Ideanomics Inc , up 28.6% The top three Nasdaq .PL.O percentage losers: ** Urban One Inc , down 28.3% ** Urban One Inc , down 23.6% ** Torm Plc , down 20% ** Walmart Inc WMT.N: up 1.1% BUZZ-UBS sees era of amplified growth, upgrades to 'buy' ** Tyson Foods TSN.N: down 2.4% BUZZ-Falls as China suspends poultry imports from Arkansas plant ** Nabriva Therapeutics NBRV.O: down 12.8% BUZZ-Plunges as COVID-19 curbs thwart approval of antibiotic ** American Airlines AAL.O: down 6.2% BUZZ-Drops as co announces equity, debt recap ** Gap Inc GPS.N: up 6.6% BUZZ-Gains on Wells Fargo's 'overweight' rating ** Campbell Soup CPB.N: up 2.0% ** Conagra Brands CAG.N: up 2.4% BUZZ-Jefferies sees appetite post-COVID for food producers, upgrades ** Virgin Galactic SPCE.N: up 11.5% BUZZ-Flies on agreement with NASA ** Broadcom Inc AVGO.O: up 0.5% BUZZ-Mizuho hikes PT on growth prospects ** Evoke Pharma EVOK.O: up 85.9% BUZZ-Set for best day after FDA approves co's nasal spray ** Evelo Biosciences EVLO.O: up 9.1% BUZZ-Soars after therapy included in COVID-19 trial ** Livent Corp LTHM.N: down 15.4% BUZZ-Falls as lithium producer launches $225 mln convertible deal ** Nio Inc NIO.N: up 3.7% BUZZ-Tesla challenger Nio accelerates after Tencent discloses stake ** Luckin Coffee LK.O: down 10.7% BUZZ-Luckin shareholders to vote on ousting Chairman Lu, shares fall ** Fuling Global FORK.O: up 6.4% BUZZ-Jumps on take-private offer ** Invitae Corp NVTA.N: up 27.5% BUZZ-Up on deal to buy genomic analysis company ** 21Vianet VNET.O: up 17.1% BUZZ-Rises on $150 mln investment from Blackstone ** Alaska Air ALK.N: down 2.5% BUZZ-Skids on bleak demand outlook ** Biocept BIOC.O: up 2.5% BUZZ-Shares up on COVID-19 testing kit availability The 11 major S&P 500 sectors: Communication Services .N At 9:30 ET, the Dow Jones Industrial Average .DJI was down 0.57% at 25,722.91. down 0.15% Consumer Discretionary
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The top three S&P 500 .PG.INX percentage gainers: ** Gap Inc , up 6.5% ** Newmont Corp , up 3.6% ** Conagra Brands , up 2.4% The top three S&P 500 .PL.INX percentage losers: ** American Airlines Group , down 6.3% ** Norwegian Cruise Line , down 5.9% ** Royal Caribbean Cruises , down 5.3% The top three NYSE .PG.N percentage gainers: ** Companhia Energetica de Minas Gerais , up 67.6% ** Tortose Acquisition Corp , up 25.5% ** Invitae Corp , up 27.4% The top three NYSE .PL.N percentage losers: ** NTN Buzztime Inc , down 24.8% ** Livent Corp , down 15.4% ** Medley Llc , down 9.3% The top three Nasdaq .PG.O percentage gainers: ** Sintx Tchnologies Inc , up 227.4% ** Evoke Pharma , up 85.9% ** Ideanomics Inc , up 28.6% The top three Nasdaq .PL.O percentage losers: ** Urban One Inc , down 28.3% ** Urban One Inc , down 23.6% ** Torm Plc , down 20% ** Walmart Inc WMT.N: up 1.1% BUZZ-UBS sees era of amplified growth, upgrades to 'buy' ** Tyson Foods TSN.N: down 2.4% BUZZ-Falls as China suspends poultry imports from Arkansas plant ** Nabriva Therapeutics NBRV.O: down 12.8% BUZZ-Plunges as COVID-19 curbs thwart approval of antibiotic ** American Airlines AAL.O: down 6.2% BUZZ-Drops as co announces equity, debt recap ** Gap Inc GPS.N: up 6.6% BUZZ-Gains on Wells Fargo's 'overweight' rating ** Campbell Soup CPB.N: up 2.0% ** Conagra Brands CAG.N: up 2.4% BUZZ-Jefferies sees appetite post-COVID for food producers, upgrades ** Virgin Galactic SPCE.N: up 11.5% BUZZ-Flies on agreement with NASA ** Broadcom Inc AVGO.O: up 0.5% BUZZ-Mizuho hikes PT on growth prospects ** Evoke Pharma EVOK.O: up 85.9% BUZZ-Set for best day after FDA approves co's nasal spray ** Evelo Biosciences EVLO.O: up 9.1% BUZZ-Soars after therapy included in COVID-19 trial ** Livent Corp LTHM.N: down 15.4% BUZZ-Falls as lithium producer launches $225 mln convertible deal ** Nio Inc NIO.N: up 3.7% BUZZ-Tesla challenger Nio accelerates after Tencent discloses stake ** Luckin Coffee LK.O: down 10.7% BUZZ-Luckin shareholders to vote on ousting Chairman Lu, shares fall ** Fuling Global FORK.O: up 6.4% BUZZ-Jumps on take-private offer ** Invitae Corp NVTA.N: up 27.5% BUZZ-Up on deal to buy genomic analysis company ** 21Vianet VNET.O: up 17.1% BUZZ-Rises on $150 mln investment from Blackstone ** Alaska Air ALK.N: down 2.5% BUZZ-Skids on bleak demand outlook ** Biocept BIOC.O: up 2.5% BUZZ-Shares up on COVID-19 testing kit availability The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stocks opened sightly lower on Monday as concerns of a resurgence in coronavirus infections fueled worries of another setback to business activity. .N At 9:30 ET, the Dow Jones Industrial Average .DJI was down 0.57% at 25,722.91.
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e8397576-9fc8-4c82-96a1-e392cf622a74
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5653.0
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2020-06-22 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Virgin Galactic, Evoke Pharma, American Airlines
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AAL
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-virgin-galactic-evoke-pharma-american-airlines-2020-06-22
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nan
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nan
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Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
U.S. stock index futures pointed to a muted open for the S&P 500 and Dow on Monday as fears of a resurgence in coronavirus infections fueled worries of another setback to business activity. .N
At 8:30 ET, Dow e-minis 1YMc1 were up 0.74% at 25,717. S&P 500 e-minis ESc1 were up 0.81% at 3,084.25, while Nasdaq 100 e-minis NQc1 were up 0.88% at 10,010.75. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Shell Midstream Partners , up 18.0% ** Cheetah Mobile , up 16.7% ** Invitae Corp , up 16.0% The top three NYSE percentage losers premarket .PRPL.NQ: ** Rtw Rtlwnds Inc , down 11.9% ** Grupo Supervielle , down 8.8% ** Hertz Global Holdings Inc HTZ.N, down 8.2% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Sintx Technologies Inc , up 208.0% ** Evoke Pharma Inc EVOK.O, up 100.0% ** Theratechnologies Inc , up 55.0% The top three Nasdaq percentage losers premarket .PRPL.O: ** Torm Plc , down 23.6% ** Nabriva Therapeutics Plc , down 17.7% ** Urban One Inc , down 17.4% ** Walmart Inc WMT.N: up 1.3% premarket BUZZ-UBS sees era of amplified growth, upgrades to 'buy' ** Tyson Foods TSN.N: down 2.4% premarket BUZZ-Falls as China suspends poultry imports from Arkansas plant ** Nabriva Therapeutics NBRV.O: down 17.7% premarket BUZZ-Plunges as COVID-19 curbs thwart approval of antibiotic ** American Airlines AAL.O: down 8.6% premarket BUZZ-Drops as co announces equity, debt recap ** Myomo Inc MYO.A: up 6.4% premarket BUZZ-Gains on restarting device deliveries ** Gap Inc GPS.N: up 6.0% premarket BUZZ-Gains on Wells Fargo's 'overweight' rating ** Cinedigm Corp CIDM.O: up 6.9% premarket BUZZ-Jumps on distribution partnership with Team Whistle ** Campbell Soup CPB.N: up 1.1% premarket ** Conagra Brands CAG.N: up 1.3% premarket BUZZ-Jefferies sees appetite post-COVID for food producers, upgrades ** Virgin Galactic SPCE.N: up 14.9% premarket BUZZ-Flies on agreement with NASA ** Broadcom Inc AVGO.O: up 0.7% premarket BUZZ-Mizuho hikes PT on growth prospects ** Evoke Pharma EVOK.O: up 100.0% premarket BUZZ-Set for best day after FDA approves co's nasal spray ** Evelo Biosciences EVLO.O: up 17.5% premarket BUZZ-Soars after therapy included in COVID-19 trial ** Livent Corp LTHM.N: down 8.0% premarket BUZZ-Falls as lithium producer launches $225 mln convertible deal ** Bed Bath & Beyond BBBY.O: up 1.2% premarket BUZZ-Up on liquidity boost, plan to reopen most stores by July
(Compiled by Shivani Kumaresan in Bengaluru)
((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three NYSE percentage gainers premarket .PRPG.NQ: ** Shell Midstream Partners , up 18.0% ** Cheetah Mobile , up 16.7% ** Invitae Corp , up 16.0% The top three NYSE percentage losers premarket .PRPL.NQ: ** Rtw Rtlwnds Inc , down 11.9% ** Grupo Supervielle , down 8.8% ** Hertz Global Holdings Inc HTZ.N, down 8.2% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Sintx Technologies Inc , up 208.0% ** Evoke Pharma Inc EVOK.O, up 100.0% ** Theratechnologies Inc , up 55.0% The top three Nasdaq percentage losers premarket .PRPL.O: ** Torm Plc , down 23.6% ** Nabriva Therapeutics Plc , down 17.7% ** Urban One Inc , down 17.4% ** Walmart Inc WMT.N: up 1.3% premarket BUZZ-UBS sees era of amplified growth, upgrades to 'buy' ** Tyson Foods TSN.N: down 2.4% premarket BUZZ-Falls as China suspends poultry imports from Arkansas plant ** Nabriva Therapeutics NBRV.O: down 17.7% premarket BUZZ-Plunges as COVID-19 curbs thwart approval of antibiotic ** American Airlines AAL.O: down 8.6% premarket BUZZ-Drops as co announces equity, debt recap ** Myomo Inc MYO.A: up 6.4% premarket BUZZ-Gains on restarting device deliveries ** Gap Inc GPS.N: up 6.0% premarket BUZZ-Gains on Wells Fargo's 'overweight' rating ** Cinedigm Corp CIDM.O: up 6.9% premarket BUZZ-Jumps on distribution partnership with Team Whistle ** Campbell Soup CPB.N: up 1.1% premarket ** Conagra Brands CAG.N: up 1.3% premarket BUZZ-Jefferies sees appetite post-COVID for food producers, upgrades ** Virgin Galactic SPCE.N: up 14.9% premarket BUZZ-Flies on agreement with NASA ** Broadcom Inc AVGO.O: up 0.7% premarket BUZZ-Mizuho hikes PT on growth prospects ** Evoke Pharma EVOK.O: up 100.0% premarket BUZZ-Set for best day after FDA approves co's nasal spray ** Evelo Biosciences EVLO.O: up 17.5% premarket BUZZ-Soars after therapy included in COVID-19 trial ** Livent Corp LTHM.N: down 8.0% premarket BUZZ-Falls as lithium producer launches $225 mln convertible deal ** Bed Bath & Beyond BBBY.O: up 1.2% premarket BUZZ-Up on liquidity boost, plan to reopen most stores by July (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures pointed to a muted open for the S&P 500 and Dow on Monday as fears of a resurgence in coronavirus infections fueled worries of another setback to business activity. .N At 8:30 ET, Dow e-minis 1YMc1 were up 0.74% at 25,717.
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The top three NYSE percentage gainers premarket .PRPG.NQ: ** Shell Midstream Partners , up 18.0% ** Cheetah Mobile , up 16.7% ** Invitae Corp , up 16.0% The top three NYSE percentage losers premarket .PRPL.NQ: ** Rtw Rtlwnds Inc , down 11.9% ** Grupo Supervielle , down 8.8% ** Hertz Global Holdings Inc HTZ.N, down 8.2% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Sintx Technologies Inc , up 208.0% ** Evoke Pharma Inc EVOK.O, up 100.0% ** Theratechnologies Inc , up 55.0% The top three Nasdaq percentage losers premarket .PRPL.O: ** Torm Plc , down 23.6% ** Nabriva Therapeutics Plc , down 17.7% ** Urban One Inc , down 17.4% ** Walmart Inc WMT.N: up 1.3% premarket BUZZ-UBS sees era of amplified growth, upgrades to 'buy' ** Tyson Foods TSN.N: down 2.4% premarket BUZZ-Falls as China suspends poultry imports from Arkansas plant ** Nabriva Therapeutics NBRV.O: down 17.7% premarket BUZZ-Plunges as COVID-19 curbs thwart approval of antibiotic ** American Airlines AAL.O: down 8.6% premarket BUZZ-Drops as co announces equity, debt recap ** Myomo Inc MYO.A: up 6.4% premarket BUZZ-Gains on restarting device deliveries ** Gap Inc GPS.N: up 6.0% premarket BUZZ-Gains on Wells Fargo's 'overweight' rating ** Cinedigm Corp CIDM.O: up 6.9% premarket BUZZ-Jumps on distribution partnership with Team Whistle ** Campbell Soup CPB.N: up 1.1% premarket ** Conagra Brands CAG.N: up 1.3% premarket BUZZ-Jefferies sees appetite post-COVID for food producers, upgrades ** Virgin Galactic SPCE.N: up 14.9% premarket BUZZ-Flies on agreement with NASA ** Broadcom Inc AVGO.O: up 0.7% premarket BUZZ-Mizuho hikes PT on growth prospects ** Evoke Pharma EVOK.O: up 100.0% premarket BUZZ-Set for best day after FDA approves co's nasal spray ** Evelo Biosciences EVLO.O: up 17.5% premarket BUZZ-Soars after therapy included in COVID-19 trial ** Livent Corp LTHM.N: down 8.0% premarket BUZZ-Falls as lithium producer launches $225 mln convertible deal ** Bed Bath & Beyond BBBY.O: up 1.2% premarket BUZZ-Up on liquidity boost, plan to reopen most stores by July (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures pointed to a muted open for the S&P 500 and Dow on Monday as fears of a resurgence in coronavirus infections fueled worries of another setback to business activity. .N At 8:30 ET, Dow e-minis 1YMc1 were up 0.74% at 25,717.
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The top three NYSE percentage gainers premarket .PRPG.NQ: ** Shell Midstream Partners , up 18.0% ** Cheetah Mobile , up 16.7% ** Invitae Corp , up 16.0% The top three NYSE percentage losers premarket .PRPL.NQ: ** Rtw Rtlwnds Inc , down 11.9% ** Grupo Supervielle , down 8.8% ** Hertz Global Holdings Inc HTZ.N, down 8.2% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Sintx Technologies Inc , up 208.0% ** Evoke Pharma Inc EVOK.O, up 100.0% ** Theratechnologies Inc , up 55.0% The top three Nasdaq percentage losers premarket .PRPL.O: ** Torm Plc , down 23.6% ** Nabriva Therapeutics Plc , down 17.7% ** Urban One Inc , down 17.4% ** Walmart Inc WMT.N: up 1.3% premarket BUZZ-UBS sees era of amplified growth, upgrades to 'buy' ** Tyson Foods TSN.N: down 2.4% premarket BUZZ-Falls as China suspends poultry imports from Arkansas plant ** Nabriva Therapeutics NBRV.O: down 17.7% premarket BUZZ-Plunges as COVID-19 curbs thwart approval of antibiotic ** American Airlines AAL.O: down 8.6% premarket BUZZ-Drops as co announces equity, debt recap ** Myomo Inc MYO.A: up 6.4% premarket BUZZ-Gains on restarting device deliveries ** Gap Inc GPS.N: up 6.0% premarket BUZZ-Gains on Wells Fargo's 'overweight' rating ** Cinedigm Corp CIDM.O: up 6.9% premarket BUZZ-Jumps on distribution partnership with Team Whistle ** Campbell Soup CPB.N: up 1.1% premarket ** Conagra Brands CAG.N: up 1.3% premarket BUZZ-Jefferies sees appetite post-COVID for food producers, upgrades ** Virgin Galactic SPCE.N: up 14.9% premarket BUZZ-Flies on agreement with NASA ** Broadcom Inc AVGO.O: up 0.7% premarket BUZZ-Mizuho hikes PT on growth prospects ** Evoke Pharma EVOK.O: up 100.0% premarket BUZZ-Set for best day after FDA approves co's nasal spray ** Evelo Biosciences EVLO.O: up 17.5% premarket BUZZ-Soars after therapy included in COVID-19 trial ** Livent Corp LTHM.N: down 8.0% premarket BUZZ-Falls as lithium producer launches $225 mln convertible deal ** Bed Bath & Beyond BBBY.O: up 1.2% premarket BUZZ-Up on liquidity boost, plan to reopen most stores by July (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures pointed to a muted open for the S&P 500 and Dow on Monday as fears of a resurgence in coronavirus infections fueled worries of another setback to business activity. S&P 500 e-minis ESc1 were up 0.81% at 3,084.25, while Nasdaq 100 e-minis NQc1 were up 0.88% at 10,010.75.
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The top three NYSE percentage gainers premarket .PRPG.NQ: ** Shell Midstream Partners , up 18.0% ** Cheetah Mobile , up 16.7% ** Invitae Corp , up 16.0% The top three NYSE percentage losers premarket .PRPL.NQ: ** Rtw Rtlwnds Inc , down 11.9% ** Grupo Supervielle , down 8.8% ** Hertz Global Holdings Inc HTZ.N, down 8.2% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Sintx Technologies Inc , up 208.0% ** Evoke Pharma Inc EVOK.O, up 100.0% ** Theratechnologies Inc , up 55.0% The top three Nasdaq percentage losers premarket .PRPL.O: ** Torm Plc , down 23.6% ** Nabriva Therapeutics Plc , down 17.7% ** Urban One Inc , down 17.4% ** Walmart Inc WMT.N: up 1.3% premarket BUZZ-UBS sees era of amplified growth, upgrades to 'buy' ** Tyson Foods TSN.N: down 2.4% premarket BUZZ-Falls as China suspends poultry imports from Arkansas plant ** Nabriva Therapeutics NBRV.O: down 17.7% premarket BUZZ-Plunges as COVID-19 curbs thwart approval of antibiotic ** American Airlines AAL.O: down 8.6% premarket BUZZ-Drops as co announces equity, debt recap ** Myomo Inc MYO.A: up 6.4% premarket BUZZ-Gains on restarting device deliveries ** Gap Inc GPS.N: up 6.0% premarket BUZZ-Gains on Wells Fargo's 'overweight' rating ** Cinedigm Corp CIDM.O: up 6.9% premarket BUZZ-Jumps on distribution partnership with Team Whistle ** Campbell Soup CPB.N: up 1.1% premarket ** Conagra Brands CAG.N: up 1.3% premarket BUZZ-Jefferies sees appetite post-COVID for food producers, upgrades ** Virgin Galactic SPCE.N: up 14.9% premarket BUZZ-Flies on agreement with NASA ** Broadcom Inc AVGO.O: up 0.7% premarket BUZZ-Mizuho hikes PT on growth prospects ** Evoke Pharma EVOK.O: up 100.0% premarket BUZZ-Set for best day after FDA approves co's nasal spray ** Evelo Biosciences EVLO.O: up 17.5% premarket BUZZ-Soars after therapy included in COVID-19 trial ** Livent Corp LTHM.N: down 8.0% premarket BUZZ-Falls as lithium producer launches $225 mln convertible deal ** Bed Bath & Beyond BBBY.O: up 1.2% premarket BUZZ-Up on liquidity boost, plan to reopen most stores by July (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures pointed to a muted open for the S&P 500 and Dow on Monday as fears of a resurgence in coronavirus infections fueled worries of another setback to business activity. .N At 8:30 ET, Dow e-minis 1YMc1 were up 0.74% at 25,717.
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103b3396-d7cd-44bf-931f-e215010096ff
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5654.0
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2020-06-22 00:00:00 UTC
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Wall Street set for subdued open as virus cases rise
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AAL
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https://www.nasdaq.com/articles/wall-street-set-for-subdued-open-as-virus-cases-rise-2020-06-22
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nan
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nan
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By Medha Singh
June 22 (Reuters) - U.S. stock index futures pointed to a muted open for the S&P 500 and Dow on Monday as fears of a resurgence in coronavirus infections fueled worries of another setback to business activity.
Demand for perceived safe-havens including gold and U.S. Treasuries rose as the World Health Organization reported a record rise in global coronavirus cases on Sunday.
Shares of airlines, one of the worst-hit sectors by the lockdowns, tumbled with United Airlines UAL.O, JetBlue Airways JBLU.O and Alaska Air Group ALK.N down between 2.1% and 4% in premarket trading.
American Airlines Group Inc AAL.O tumbled 9% as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity.
"Investors are trying to calibrate the difference between an increase in new coronavirus cases against sequentially improving economic data…," said Art Hogan, strategist at National Securities.
"The concern right now is the possibility of partial reclosing of the economy as and when fresh cases flare up."
In the past week, several U.S. states, mainly in the West and South, have reported a surge in cases.
On Friday, the S&P 500 .SPX and the Dow .DJI ended a choppy session in the red after Apple Inc's AAPL.O move to temporarily shut some U.S. stores brought back concerns of a delay in recovery of business activity.
The S&P 500 .SPX has climbed about 41% from its March lows, thanks to trillions of dollars in monetary and fiscal support, the reopening of businesses and improving economic data. It is now just about 9% off its Feb. 19 record high.
Meanwhile, credit rating agency Moody's said the health crisis will push debt levels in the world's richest nations up by almost 20 percentage points on average this year, almost double the damage seen during the 2009 financial crash.
At 8:21 a.m. ET, Dow e-minis 1YMcv1 were up 201 points, or 0.79%. S&P 500 e-minis EScv1 were up 25.25 points, or 0.83% and Nasdaq 100 e-minis NQcv1 were up 89 points, or 0.9%.
U.S.-based meat processor Tyson Inc TSN.N slipped 2.4% as China's customs authority suspended imports of poultry products from a plant owned by the company that had been hit by the coronavirus.
Walmart Inc WMT.N rose 1.2% as brokerage UBS upgraded the retail giant's shares to "buy".
Virgin Galactic Holdings Inc SPCE.N soared 14% as it signed up with NASA to develop a program to promote private missions to the International Space Station.
(Reporting by Medha Singh and Shashank Nayar in Bengaluru; Editing by Arun Koyyur)
((Medha.Singh@thomsonreuters.com; within U.S. +1646 223 8780, outside U.S. +91 80 6749 1130; Twitter: https://twitter.com/medhasinghs))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group Inc AAL.O tumbled 9% as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity. By Medha Singh June 22 (Reuters) - U.S. stock index futures pointed to a muted open for the S&P 500 and Dow on Monday as fears of a resurgence in coronavirus infections fueled worries of another setback to business activity. On Friday, the S&P 500 .SPX and the Dow .DJI ended a choppy session in the red after Apple Inc's AAPL.O move to temporarily shut some U.S. stores brought back concerns of a delay in recovery of business activity.
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American Airlines Group Inc AAL.O tumbled 9% as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity. Demand for perceived safe-havens including gold and U.S. Treasuries rose as the World Health Organization reported a record rise in global coronavirus cases on Sunday. "Investors are trying to calibrate the difference between an increase in new coronavirus cases against sequentially improving economic data…," said Art Hogan, strategist at National Securities.
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American Airlines Group Inc AAL.O tumbled 9% as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity. By Medha Singh June 22 (Reuters) - U.S. stock index futures pointed to a muted open for the S&P 500 and Dow on Monday as fears of a resurgence in coronavirus infections fueled worries of another setback to business activity. Demand for perceived safe-havens including gold and U.S. Treasuries rose as the World Health Organization reported a record rise in global coronavirus cases on Sunday.
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American Airlines Group Inc AAL.O tumbled 9% as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity. Demand for perceived safe-havens including gold and U.S. Treasuries rose as the World Health Organization reported a record rise in global coronavirus cases on Sunday. Shares of airlines, one of the worst-hit sectors by the lockdowns, tumbled with United Airlines UAL.O, JetBlue Airways JBLU.O and Alaska Air Group ALK.N down between 2.1% and 4% in premarket trading.
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734baa6d-5a87-46e8-89da-4f6fdab02369
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5655.0
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2020-06-22 00:00:00 UTC
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Robinhood Is Not Moving The Entire Stock Market
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AAL
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https://www.nasdaq.com/articles/robinhood-is-not-moving-the-entire-stock-market-2020-06-22
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nan
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nan
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Robinhood and its users have been getting a lot of attention, as analysts and large investors point to the rise of retail investment now that people are stuck at home, and sports and gambling are largely grounded. Robinhood boasts a staggering 13 million accounts, but a great many of those accounts are used by younger people. Younger people don't have much money. It's a great thing to see younger investors learning how things work, but relative to the scale of capital in the stock market, Robinhood's user base is inconsequential.
More than anything, the trades are drawing attention because of how concentrated they are in battered stocks.
Image Source: Getty Images
Not enough capital
According to JMP Securities, the average account size for a typical Robinhood account ranges from $1,000 to $5,000. The app passed 13 million users this year.
Let's be liberal and say the average account balance is $5,000. Keeping the math straight with 13 million users, that would give Robinhood's community of retail investors a capitalization of $65 billion on the high end of the spectrum. Sixty-five billion is a lot of money for anyone, but for the market, it's not much at all.
Between February 19 and March 12, the U.S. stock market lost $11.5 trillion in market capitalization as COVID-19 hit. That's right --trillions. Netflix (NASDAQ: NFLX) shares hold a market capitalization of $196.57 billion. That's roughly three times the size of all of Robinhood's assets under management if each account holds $5,000, and the number of accounts is still close to 13 million.
When you look at it from this perspective, it's really tough to make the argument that Robinhood users have any real influence on the market.
They're chasing cheap stocks, which can make some waves
On June 18, Robinhood's list of 100 most popular stocks included names like Ford (NYSE: F), General Electric (NYSE: GE), American Airlines Group (NASDAQ: AAL), Disney (NYSE: DIS), Delta Air Lines (NYSE: DAL), and Carnival (NYSE: CCL). Airlines and cruise lines have been some of the most volatile stocks in recent weeks. Robinhood's clientele are interested in cheap stocks that have had a rocky start to the year. Those are stocks that have been battered by COVID-19 and have offered big volatility in a short period of time. You can make the argument that Robinhood's assets under management might carry influence over a smaller grouping like this, although even here, the market capitalizations of these stocks are substantial. It's good for trading but not necessarily for investing.
In April, the most popular stock on Robinhood was Aurora Cannabis (NYSE: ACB). The last two years have not been kind to Aurora's stock price, which is down 84% since June 2018. Like many marijuana stocks, expectations were a bit high. Sales and earnings have failed to live up to the hype. The fact that this stock was the most popular on Robinhood shows you the choices that many of its users are making.
Combine that with some truly huge daily moves on nearly unknown micro-cap stocks, and it's easy to understand where people are getting the idea that Robinhood's users can move markets. It's true that they're investing heavily in some of the battered names that are making headlines. As good as it is for younger people to get involved in investing, though, it doesn't equate to moving the entire stock market.
10 stocks we like better than Aurora Cannabis Inc.
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*Stock Advisor returns as of June 2, 2020
David Butler has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Netflix and Walt Disney. The Motley Fool recommends Carnival and Delta Air Lines and recommends the following options: long January 2021 $60 calls on Walt Disney and short July 2020 $115 calls on Walt Disney. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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They're chasing cheap stocks, which can make some waves On June 18, Robinhood's list of 100 most popular stocks included names like Ford (NYSE: F), General Electric (NYSE: GE), American Airlines Group (NASDAQ: AAL), Disney (NYSE: DIS), Delta Air Lines (NYSE: DAL), and Carnival (NYSE: CCL). Keeping the math straight with 13 million users, that would give Robinhood's community of retail investors a capitalization of $65 billion on the high end of the spectrum. You can make the argument that Robinhood's assets under management might carry influence over a smaller grouping like this, although even here, the market capitalizations of these stocks are substantial.
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They're chasing cheap stocks, which can make some waves On June 18, Robinhood's list of 100 most popular stocks included names like Ford (NYSE: F), General Electric (NYSE: GE), American Airlines Group (NASDAQ: AAL), Disney (NYSE: DIS), Delta Air Lines (NYSE: DAL), and Carnival (NYSE: CCL). Netflix (NASDAQ: NFLX) shares hold a market capitalization of $196.57 billion. The Motley Fool recommends Carnival and Delta Air Lines and recommends the following options: long January 2021 $60 calls on Walt Disney and short July 2020 $115 calls on Walt Disney.
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They're chasing cheap stocks, which can make some waves On June 18, Robinhood's list of 100 most popular stocks included names like Ford (NYSE: F), General Electric (NYSE: GE), American Airlines Group (NASDAQ: AAL), Disney (NYSE: DIS), Delta Air Lines (NYSE: DAL), and Carnival (NYSE: CCL). It's a great thing to see younger investors learning how things work, but relative to the scale of capital in the stock market, Robinhood's user base is inconsequential. See the 10 stocks *Stock Advisor returns as of June 2, 2020 David Butler has no position in any of the stocks mentioned.
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They're chasing cheap stocks, which can make some waves On June 18, Robinhood's list of 100 most popular stocks included names like Ford (NYSE: F), General Electric (NYSE: GE), American Airlines Group (NASDAQ: AAL), Disney (NYSE: DIS), Delta Air Lines (NYSE: DAL), and Carnival (NYSE: CCL). Robinhood boasts a staggering 13 million accounts, but a great many of those accounts are used by younger people. Keeping the math straight with 13 million users, that would give Robinhood's community of retail investors a capitalization of $65 billion on the high end of the spectrum.
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2b05a9a6-39a1-4595-9b5f-3c62e0040d31
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5656.0
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2020-06-22 00:00:00 UTC
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American Airlines Proposes Offering Of $1.5 Bln Senior Secured Notes, New $500 Mln Term Loan
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AAL
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https://www.nasdaq.com/articles/american-airlines-proposes-offering-of-%241.5-bln-senior-secured-notes-new-%24500-mln-term
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nan
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nan
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(RTTNews) - American Airlines Group Inc. (AAL) announced a proposed private offering of $1.5 billion aggregate principal amount of secured senior notes due 2025.
The company also said it intends to enter into a new $500 million Term Loan B Facility due 2024 concurrently with the closing of the offering of the Notes.
American Airlines plans to use a portion of the net proceeds from the offering of the Notes and borrowings under the Term Loan to refinance its delayed draw term loan facility that was entered into on March 18, 2020 and scheduled to mature on March 17, 2021.
The remainder of the proceeds will be used for general corporate purposes and to enhance the company's liquidity position.
According to the company, the final terms and amounts of the Notes and the Term Loan are subject to market and other conditions, and may be materially different than expectations.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - American Airlines Group Inc. (AAL) announced a proposed private offering of $1.5 billion aggregate principal amount of secured senior notes due 2025. The company also said it intends to enter into a new $500 million Term Loan B Facility due 2024 concurrently with the closing of the offering of the Notes. American Airlines plans to use a portion of the net proceeds from the offering of the Notes and borrowings under the Term Loan to refinance its delayed draw term loan facility that was entered into on March 18, 2020 and scheduled to mature on March 17, 2021.
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(RTTNews) - American Airlines Group Inc. (AAL) announced a proposed private offering of $1.5 billion aggregate principal amount of secured senior notes due 2025. The company also said it intends to enter into a new $500 million Term Loan B Facility due 2024 concurrently with the closing of the offering of the Notes. American Airlines plans to use a portion of the net proceeds from the offering of the Notes and borrowings under the Term Loan to refinance its delayed draw term loan facility that was entered into on March 18, 2020 and scheduled to mature on March 17, 2021.
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(RTTNews) - American Airlines Group Inc. (AAL) announced a proposed private offering of $1.5 billion aggregate principal amount of secured senior notes due 2025. The company also said it intends to enter into a new $500 million Term Loan B Facility due 2024 concurrently with the closing of the offering of the Notes. American Airlines plans to use a portion of the net proceeds from the offering of the Notes and borrowings under the Term Loan to refinance its delayed draw term loan facility that was entered into on March 18, 2020 and scheduled to mature on March 17, 2021.
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(RTTNews) - American Airlines Group Inc. (AAL) announced a proposed private offering of $1.5 billion aggregate principal amount of secured senior notes due 2025. The company also said it intends to enter into a new $500 million Term Loan B Facility due 2024 concurrently with the closing of the offering of the Notes. American Airlines plans to use a portion of the net proceeds from the offering of the Notes and borrowings under the Term Loan to refinance its delayed draw term loan facility that was entered into on March 18, 2020 and scheduled to mature on March 17, 2021.
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7ce93305-34dc-4fc5-bda6-1acec0bfe2d8
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5657.0
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2020-06-22 00:00:00 UTC
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Wall Street treads water as virus cases rise; techs shine
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AAL
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https://www.nasdaq.com/articles/wall-street-treads-water-as-virus-cases-rise-techs-shine-2020-06-22
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nan
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nan
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By Medha Singh
June 22 (Reuters) - The S&P 500 and Dow Jones indexes were largely unchanged on Monday as investors assessed stimulus-fueled recovery hopes against an increase in coronavirus infections that could derail a rebound in business activity.
Demand for perceived safe-havens, including gold and U.S. Treasuries, rose as the World Health Organization reported a record rise in global coronavirus cases on Sunday.
Shares of airlines, one of the worst-hit sectors by the lockdowns to contain the spread of the virus, tumbled, with the S&P 1500 airlines index .SPCOMAIR down 1.2%.
American Airlines Group Inc AAL.O fell 6% as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity.
"Investors are trying to calibrate the difference between an increase in new coronavirus cases against sequentially improving economic data…," said Art Hogan, strategist at National Securities.
"The concern right now is the possibility of partial reclosing of the economy as and when fresh cases flare up."
In the past week, several U.S. states, mainly in the West and South, have reported a surge in cases, with Apple Inc's AAPL.O move to temporarily shut some U.S. stores again on Friday underscoring concerns of a delay in the recovery.
The rising cases have weighed on investment sentiment recently. The S&P 500 is stuck in a trading range after trillions of dollars in monetary and fiscal support, the reopening of businesses and improving economic data lifted the index about 40% from its March lows.
It is now just about 9% off its Feb. 19 record high.
Technology stocks .SPLRCT, which have powered much of the rebound, again provided the biggest to the benchmark index. Four of the 11 major S&P sectors were higher.
At 10:06 a.m. ET, the Dow Jones Industrial Average .DJI was up 21.37 points, or 0.08%, at 25,892.83, the S&P 500 .SPX was up 2.89 points, or 0.09%, at 3,100.63. The Nasdaq Composite .IXIC was up 27.50 points, or 0.28%, at 9,973.62.
U.S.-based meat processor Tyson Inc TSN.N slipped 2.7% as China's customs authority suspended imports of poultry products from a plant owned by the company that had been hit by the coronavirus.
Virgin Galactic Holdings Inc SPCE.N soared 14.2% as it signed up with NASA to develop a program to promote private missions to the International Space Station.
Declining issues outnumbered advancers for a 1.39-to-1 ratio on the NYSE and for a 1.45-to-1 ratio on the Nasdaq.
The S&P index recorded six new 52-week highs and no new low, while the Nasdaq recorded 69 new highs and four new lows.
(Reporting by Medha Singh and Shashank Nayar in Bengaluru; Editing by Arun Koyyur and Sriraj Kalluvila)
((Medha.Singh@thomsonreuters.com; within U.S. +1646 223 8780, outside U.S. +91 80 6749 1130; Twitter: https://twitter.com/medhasinghs))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group Inc AAL.O fell 6% as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity. By Medha Singh June 22 (Reuters) - The S&P 500 and Dow Jones indexes were largely unchanged on Monday as investors assessed stimulus-fueled recovery hopes against an increase in coronavirus infections that could derail a rebound in business activity. In the past week, several U.S. states, mainly in the West and South, have reported a surge in cases, with Apple Inc's AAPL.O move to temporarily shut some U.S. stores again on Friday underscoring concerns of a delay in the recovery.
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American Airlines Group Inc AAL.O fell 6% as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity. By Medha Singh June 22 (Reuters) - The S&P 500 and Dow Jones indexes were largely unchanged on Monday as investors assessed stimulus-fueled recovery hopes against an increase in coronavirus infections that could derail a rebound in business activity. Demand for perceived safe-havens, including gold and U.S. Treasuries, rose as the World Health Organization reported a record rise in global coronavirus cases on Sunday.
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American Airlines Group Inc AAL.O fell 6% as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity. By Medha Singh June 22 (Reuters) - The S&P 500 and Dow Jones indexes were largely unchanged on Monday as investors assessed stimulus-fueled recovery hopes against an increase in coronavirus infections that could derail a rebound in business activity. Demand for perceived safe-havens, including gold and U.S. Treasuries, rose as the World Health Organization reported a record rise in global coronavirus cases on Sunday.
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American Airlines Group Inc AAL.O fell 6% as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity. Demand for perceived safe-havens, including gold and U.S. Treasuries, rose as the World Health Organization reported a record rise in global coronavirus cases on Sunday. Shares of airlines, one of the worst-hit sectors by the lockdowns to contain the spread of the virus, tumbled, with the S&P 1500 airlines index .SPCOMAIR down 1.2%.
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8c8f1c55-9f74-4956-a0b2-a9fa5aec094e
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5658.0
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2020-06-21 00:00:00 UTC
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Unions at Chile's Codelco demand more protection against coronavirus
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AAL
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https://www.nasdaq.com/articles/unions-at-chiles-codelco-demand-more-protection-against-coronavirus-2020-06-21
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nan
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nan
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SANTIAGO, June 21 (Reuters) - Labor unions at Chile's state-owned copper miner Codelco said on Sunday that measures taken by the company against the spread of the novel coronavirus were insufficient and threatened to take steps to force stricter health policies.
On Saturday the death of the second Codelco employee from the virus was confirmed, prompting the company to suspend construction projects in northern Chile and take other steps aimed at reducing the circulation of workers.
Amid an effort to reorganize its much-criticized reporting of virus-related deaths, the Chilean government over the weekend increased its estimated number of fatal cases in the country to more than 7,000 from a previously confirmed 4,265.
The Federation of Copper Workers (FTC) union said it would take measures if the company's health protocols are not further tightened. It did not specify what measures it might take.
"Under no pretext will we accept the prioritization of production if we are not guaranteed urgent preventive measures of the highest standard," the FTC said in a statement.
In addition to Codelco, other international companies operate in the South American country such as BHP Group Ltd BHP.AX, Anglo American Plc AAL.L, Glencore Plc GLEN.L, Antofagasta Plc ANTO.L, Freeport McMoRan FCX.N.
Chile's Codelco says to suspend northern construction projects due to pandemic
Chile ups coronavirus death count to more than 7,000; 2nd Codelco death reported
(Reporting by Fabian Cambero, writing by Hugh Bronstein; Editing by Lisa Shumaker)
((hugh.bronstein@thomsonreuters.com; 5411 4318 0655; Reuters Messaging: hugh.bronstein.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In addition to Codelco, other international companies operate in the South American country such as BHP Group Ltd BHP.AX, Anglo American Plc AAL.L, Glencore Plc GLEN.L, Antofagasta Plc ANTO.L, Freeport McMoRan FCX.N. SANTIAGO, June 21 (Reuters) - Labor unions at Chile's state-owned copper miner Codelco said on Sunday that measures taken by the company against the spread of the novel coronavirus were insufficient and threatened to take steps to force stricter health policies. On Saturday the death of the second Codelco employee from the virus was confirmed, prompting the company to suspend construction projects in northern Chile and take other steps aimed at reducing the circulation of workers.
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In addition to Codelco, other international companies operate in the South American country such as BHP Group Ltd BHP.AX, Anglo American Plc AAL.L, Glencore Plc GLEN.L, Antofagasta Plc ANTO.L, Freeport McMoRan FCX.N. On Saturday the death of the second Codelco employee from the virus was confirmed, prompting the company to suspend construction projects in northern Chile and take other steps aimed at reducing the circulation of workers. The Federation of Copper Workers (FTC) union said it would take measures if the company's health protocols are not further tightened.
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In addition to Codelco, other international companies operate in the South American country such as BHP Group Ltd BHP.AX, Anglo American Plc AAL.L, Glencore Plc GLEN.L, Antofagasta Plc ANTO.L, Freeport McMoRan FCX.N. SANTIAGO, June 21 (Reuters) - Labor unions at Chile's state-owned copper miner Codelco said on Sunday that measures taken by the company against the spread of the novel coronavirus were insufficient and threatened to take steps to force stricter health policies. On Saturday the death of the second Codelco employee from the virus was confirmed, prompting the company to suspend construction projects in northern Chile and take other steps aimed at reducing the circulation of workers.
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In addition to Codelco, other international companies operate in the South American country such as BHP Group Ltd BHP.AX, Anglo American Plc AAL.L, Glencore Plc GLEN.L, Antofagasta Plc ANTO.L, Freeport McMoRan FCX.N. On Saturday the death of the second Codelco employee from the virus was confirmed, prompting the company to suspend construction projects in northern Chile and take other steps aimed at reducing the circulation of workers. The Federation of Copper Workers (FTC) union said it would take measures if the company's health protocols are not further tightened.
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54dccfad-117f-4a12-9a65-5d1368631f28
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5659.0
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2020-06-21 00:00:00 UTC
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American Airlines seeks $3.5 bln in new financing
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AAL
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https://www.nasdaq.com/articles/american-airlines-seeks-%243.5-bln-in-new-financing-2020-06-21
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nan
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nan
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Adds details on senior secured notes in third paragraph
June 21 (Reuters) - American Airlines Group Inc AAL.O said on Sunday it plans to secure $3.5 billion in new financing, to improve the airline's liquidity as it grapples with travel restrictions caused by the coronavirus.
The company plans to raise $1.5 billion by selling shares and convertible senior notes due 2025, the airline said in a statement.
Additionally, the airline said it will offer $1.5 billion in senior secured notes and that it intends to enter into a new $500 million term loan facility due 2024.
The company expects to use the net proceeds from the stock and convertible notes offerings for general corporate purposes and to enhance its liquidity position, the airline added.
The stock and convertible notes offerings, first reported by Bloomberg News, include a 30-day option for the underwriters to purchase up to $112.5 million of additional common shares and up to $112.5 million of additional convertible notes respectively, the company said.
Goldman Sachs & Co. LLC, Citigroup, BofA Securities and JP Morgan will be acting as representatives for the underwriters.
American Airlines and Delta Air Lines Inc DAL.N said last week that a modest recovery in demand was helping to slow daily cash burn rates in June after the U.S. government reported record low passenger numbers in April amid the coronavirus pandemic.
(Reporting by Sabahatjahan Contractor and Radhika Anilkumar in Bengaluru; editing by Diane Craft and Lincoln Feast.)
((Sabahatjahan.Contractor@thomsonreuters.com; within U.S. +1 646 223 8780 outside the U.S. +918067492635;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds details on senior secured notes in third paragraph June 21 (Reuters) - American Airlines Group Inc AAL.O said on Sunday it plans to secure $3.5 billion in new financing, to improve the airline's liquidity as it grapples with travel restrictions caused by the coronavirus. Additionally, the airline said it will offer $1.5 billion in senior secured notes and that it intends to enter into a new $500 million term loan facility due 2024. The company expects to use the net proceeds from the stock and convertible notes offerings for general corporate purposes and to enhance its liquidity position, the airline added.
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Adds details on senior secured notes in third paragraph June 21 (Reuters) - American Airlines Group Inc AAL.O said on Sunday it plans to secure $3.5 billion in new financing, to improve the airline's liquidity as it grapples with travel restrictions caused by the coronavirus. The company plans to raise $1.5 billion by selling shares and convertible senior notes due 2025, the airline said in a statement. Additionally, the airline said it will offer $1.5 billion in senior secured notes and that it intends to enter into a new $500 million term loan facility due 2024.
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Adds details on senior secured notes in third paragraph June 21 (Reuters) - American Airlines Group Inc AAL.O said on Sunday it plans to secure $3.5 billion in new financing, to improve the airline's liquidity as it grapples with travel restrictions caused by the coronavirus. Additionally, the airline said it will offer $1.5 billion in senior secured notes and that it intends to enter into a new $500 million term loan facility due 2024. The stock and convertible notes offerings, first reported by Bloomberg News, include a 30-day option for the underwriters to purchase up to $112.5 million of additional common shares and up to $112.5 million of additional convertible notes respectively, the company said.
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Adds details on senior secured notes in third paragraph June 21 (Reuters) - American Airlines Group Inc AAL.O said on Sunday it plans to secure $3.5 billion in new financing, to improve the airline's liquidity as it grapples with travel restrictions caused by the coronavirus. The company plans to raise $1.5 billion by selling shares and convertible senior notes due 2025, the airline said in a statement. Additionally, the airline said it will offer $1.5 billion in senior secured notes and that it intends to enter into a new $500 million term loan facility due 2024.
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5fc6f6d8-fab1-47d7-9fc0-ea84409b3dec
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5660.0
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2020-06-21 00:00:00 UTC
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Consumer Discretionary Stocks' Latest Challenge: Should Stores Require Masks?
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AAL
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https://www.nasdaq.com/articles/consumer-discretionary-stocks-latest-challenge%3A-should-stores-require-masks-2020-06-21
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nan
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nan
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It has already been a disastrous year for consumer-facing stocks.
Nonessential retailers -- the ones that sell discretionary items like apparel -- were forced to close their stores in March when the pandemic first started. Then, just as some of them were starting to reopen, they were vandalized by looters in a number of cities after George Floyd's killing.
Now, as retailers, restaurants, entertainment, and travel companies are trying to get customers back in the door, they're faced with a fraught question: whether to make customers wear masks or not.
Masks have emerged as the latest front in the culture wars surrounding the pandemic, and for businesses, it's difficult to know how to handle it.
Image source: Getty Images.
AMC Entertainment (NYSE: AMC), the country's biggest movie theater chain with around 600 theaters nationwide, announced plans to reopen theaters in July. It unintentionally waded into the controversy when CEO Adam Aron told Variety, "We did not want to be drawn into a political controversy. We thought it might be counterproductive if we forced mask-wearing on those people who believe strongly that it is not necessary. We think that the vast majority of AMC guests will be wearing masks."
Aron did not get his wish. There was swift backlash against AMC after the news broke. The company reversed the policy, saying that the chain would require customers to wear masks. Rivals Cinemark and Regal have said they will not require masks, however.
Though medical experts advise using masks in public and in situations where social distancing isn't possible, and studies have shown that wearing masks can reduce the risk of coronavirus transmission by as much as 75%, there appears to be a sizable percentage of Americans who refuse to use them and don't want to patronize businesses requiring them. See the case of conservative activist Brandon Straka, who was recently removed from an American Airlines (NASDAQ: AAL) flight after refusing to don a mask and subsequently banned by the airline.
Costco (NASDAQ: COST) was among the first retailers to insist that customers wear masks. Though the move has turned off some shoppers and caused the retailer to deny others entry, sales have remained strong as the company's status as an essential retailer has helped it maintain growth. Comparable sales at U.S. stores rose 9% excluding fuel, boosted by e-commerce sales that have more than doubled.
Another reason to avoid consumer discretionary stocks
With consumer discretionary companies already struggling to bounce back from shutdowns and other challenges related to the pandemic, the mask controversy will only add to their list of woes. Even if businesses like AMC have mask-wearing policies, they can still be difficult to enforce, and consumers who dislike such rules may simply remove their masks once inside an establishment. At a movie theater where guests eat and drink, there's also the reality that they'll need to take off their masks for at least part of the experience.
Meanwhile, President Trump and other political leaders have been reluctant to endorse wearing masks. Trump even said that some Americans wear masks to signal disapproval of him, further politicizing the issue. Those comments and the debate around masks mean that the controversy isn't going away anytime soon.
The other issue is that consumers who don't like these businesses' pandemic policies have the option of staying home and supporting online competitors. The debate around AMC's mask policy seems like it will only benefit streamers like Netflix and Roku, as staying home is an easy alternative to the movie theater. E-commerce sales are likely to continue to boom. Consumers will avoid long-distance travel or explore options like RVing, as flying in an airplane is still not seen as safe. According to the TSA, domestic passenger traffic is still down nearly 80% from a year ago.
In China, Japan, South Korea, and Hong Kong, infection rates have plummeted with the help of near-universal mask-wearing. In the U.S., a full embrace of face coverings is far from reality, and that means "lockdown stocks" like Amazon and Netflix that provide alternatives to real-world commerce should continue to be winners.
10 stocks we like better than AMC Entertainment Holdings
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Jeremy Bowman owns shares of Amazon, Netflix, and Roku. The Motley Fool owns shares of and recommends Amazon, Netflix, and Roku. The Motley Fool recommends Costco Wholesale and recommends the following options: short January 2022 $1940 calls on Amazon and long January 2022 $1920 calls on Amazon. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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See the case of conservative activist Brandon Straka, who was recently removed from an American Airlines (NASDAQ: AAL) flight after refusing to don a mask and subsequently banned by the airline. Even if businesses like AMC have mask-wearing policies, they can still be difficult to enforce, and consumers who dislike such rules may simply remove their masks once inside an establishment. The debate around AMC's mask policy seems like it will only benefit streamers like Netflix and Roku, as staying home is an easy alternative to the movie theater.
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See the case of conservative activist Brandon Straka, who was recently removed from an American Airlines (NASDAQ: AAL) flight after refusing to don a mask and subsequently banned by the airline. Another reason to avoid consumer discretionary stocks With consumer discretionary companies already struggling to bounce back from shutdowns and other challenges related to the pandemic, the mask controversy will only add to their list of woes. The Motley Fool owns shares of and recommends Amazon, Netflix, and Roku.
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See the case of conservative activist Brandon Straka, who was recently removed from an American Airlines (NASDAQ: AAL) flight after refusing to don a mask and subsequently banned by the airline. Though medical experts advise using masks in public and in situations where social distancing isn't possible, and studies have shown that wearing masks can reduce the risk of coronavirus transmission by as much as 75%, there appears to be a sizable percentage of Americans who refuse to use them and don't want to patronize businesses requiring them. Another reason to avoid consumer discretionary stocks With consumer discretionary companies already struggling to bounce back from shutdowns and other challenges related to the pandemic, the mask controversy will only add to their list of woes.
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See the case of conservative activist Brandon Straka, who was recently removed from an American Airlines (NASDAQ: AAL) flight after refusing to don a mask and subsequently banned by the airline. The company reversed the policy, saying that the chain would require customers to wear masks. The other issue is that consumers who don't like these businesses' pandemic policies have the option of staying home and supporting online competitors.
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cca5c827-7871-4377-a249-9d1ba2cc2f2e
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5661.0
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2020-06-19 00:00:00 UTC
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US Airlines May Ban Passengers For Not Wearing Face Masks
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AAL
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https://www.nasdaq.com/articles/us-airlines-may-ban-passengers-for-not-wearing-face-masks-2020-06-19
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nan
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nan
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(RTTNews) - U.S. airlines are stepping up enforcement of face covering policies, including banning passengers who do not wear face masks on flights amid the coronavirus pandemic.
American Airlines temporarily banned a passenger who was kicked off a flight in New York earlier this week after he refused to wear a face mask.
The airline's crew reportedly asked Brandon Straka, a conservative activist, to get off the flight at New York's LaGuardia Airport after he refused to put on a mask. Straka obliged their request to get off the flight.
"I was just removed from my flight for not wearing a mask. 1st time this has happened. Not a federal law," Straka said on Twitter.
American Airlines said the ban on Straka will remain until face coverings are no longer required for customers, according to the airline.
In late April, American Airlines had said all passengers on its flights would be required to wear face masks during travel. Earlier this week, the airline announced a stronger policy for customer face masks, saying it will deny boarding to customers who do not comply. The airline added it may also deny future travel for customers who refuse to wear a face covering.
Some passengers are, however, exempt from the face covering requirement, such as young children and those with a disability or relevant medical condition.
United Airlines also said on Monday that it would suspend travel privileges of any passenger who refuses to wear a mask on its aircraft.
Airlines for America or A4A, an industry trade organization representing major U.S. airlines, said on Monday that its member carriers will vigorously enforce face covering policies. Each airline will clearly articulate its individual face covering policy in communications with customers and may require passengers to acknowledge the specific rules during the check-in process, A4A added.
Further, each carrier will decide what action to be taken against passengers who are found to be in noncompliance of the rules. This could include suspension of flying privileges on that airline.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines temporarily banned a passenger who was kicked off a flight in New York earlier this week after he refused to wear a face mask. The airline's crew reportedly asked Brandon Straka, a conservative activist, to get off the flight at New York's LaGuardia Airport after he refused to put on a mask. Each airline will clearly articulate its individual face covering policy in communications with customers and may require passengers to acknowledge the specific rules during the check-in process, A4A added.
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(RTTNews) - U.S. airlines are stepping up enforcement of face covering policies, including banning passengers who do not wear face masks on flights amid the coronavirus pandemic. In late April, American Airlines had said all passengers on its flights would be required to wear face masks during travel. The airline added it may also deny future travel for customers who refuse to wear a face covering.
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(RTTNews) - U.S. airlines are stepping up enforcement of face covering policies, including banning passengers who do not wear face masks on flights amid the coronavirus pandemic. American Airlines temporarily banned a passenger who was kicked off a flight in New York earlier this week after he refused to wear a face mask. American Airlines said the ban on Straka will remain until face coverings are no longer required for customers, according to the airline.
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(RTTNews) - U.S. airlines are stepping up enforcement of face covering policies, including banning passengers who do not wear face masks on flights amid the coronavirus pandemic. American Airlines temporarily banned a passenger who was kicked off a flight in New York earlier this week after he refused to wear a face mask. American Airlines said the ban on Straka will remain until face coverings are no longer required for customers, according to the airline.
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2be49f34-6014-4363-8e29-9f4ec7bb4ca9
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5662.0
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2020-06-19 00:00:00 UTC
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Airlines Lead Losers as Stock Markets Limp Into the Weekend
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AAL
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https://www.nasdaq.com/articles/airlines-lead-losers-as-stock-markets-limp-into-the-weekend-2020-06-19
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nan
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nan
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Market participants have been uncertain about what the next step for the stock market will be, and today, nervousness ended up winning the day. Despite solid economic data, investors are nervous about spikes in COVID-19 in some key areas of the country that haven't previously seen the worst of the outbreak. Although the Dow Jones Industrial Average (DJINDICES: ^DJI) and S&P 500 (SNPINDEX: ^GSPC) gave up early gains to finish lower on the day, the Nasdaq Composite once again defied the market and gained ground.
Today's stock market
INDEX
PERCENTAGE CHANGE (DECLINE)
POINT CHANGE
Dow
(0.80%)
(209)
S&P 500
(0.56%)
(18)
Nasdaq Composite
0.03%
3
Data source: Yahoo! Finance.
Airline stocks have been extremely volatile lately, and that trend continued today. Travel trends have started to look more favorable lately, but that could come to a sudden halt if new outbreaks cause would-be travelers to stay at home longer.
Losing altitude again
Losses for the airline industry were felt across the board. Among major carriers, United Airlines Holdings (NASDAQ: UAL) took the biggest decline, falling 6%. Delta Air Lines (NYSE: DAL) gave up 4%, while American Airlines Group (NASDAQ: AAL) and Southwest Airlines (NYSE: LUV) were both down around 3%.
Image source: Getty Images.
Smaller carriers saw similar-size losses. Spirit Airlines (NYSE: SAVE) and JetBlue Airways (NASDAQ: JBLU) finished lower by 5%, while Hawaiian Holdings (NASDAQ: HA) settled for a 4% drop and Alaska Air (NYSE: ALK) was down 3%.
Airlines of all sizes are struggling with the same challenges. Although the major companies have greater international exposure that presents additional obstacles to overcome, the primary problem facing airlines is how to adapt their business models to deal with the new reality of health and safety consciousness while remaining profitable.
Making it through the shutdown
Airlines have burned through billions of dollars covering expenses even as flight loads fell nearly to zero at times during the worst of the pandemic. And although traffic levels are recovering, most carriers still face significant negative cash flows. Most companies have already sought to raise capital from the financial markets, and government assistance has also been an option to help airlines maintain their labor forces and stay afloat.
Yet the cash that airlines have already come up with might not be enough. American is looking to sell $2 billion in high-yield bonds, with the idea of raising even more capital to make sure that it has enough cash reserves to weather an extended period of sluggish performance or a second wave of shutdowns. The move follows United's similar move to raise $10 billion announced on Thursday. With bond-rating agencies having already reduced American's rating to junk bond status, the airline could end up paying double-digit interest rates on the debt, similar to what we've seen with the cruise ship industry.
Meanwhile, airlines are getting a mixed reception from passengers about safety measures. The required use of masks has become a more contentious issue than many had expected, with some travelers feeling that airlines aren't doing enough for safety while others don't want to wear masks at all. Carriers will have to walk a fine line to avoid alienating at least a portion of their customer bases.
Airline stocks face an uncertain future, and it'll be tough to predict what the industry looks like six months or a year down the road. If airlines can return to something resembling their past business models, then the stocks could climb back. But many investors will need to see what that new normal really looks like before they'll be ready to take positions.
10 stocks we like better than United Airlines Holdings
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and United Airlines Holdings 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 June 2, 2020
Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Spirit Airlines. The Motley Fool recommends Alaska Air Group, Delta Air Lines, Hawaiian Holdings, JetBlue Airways, and Southwest Airlines. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Delta Air Lines (NYSE: DAL) gave up 4%, while American Airlines Group (NASDAQ: AAL) and Southwest Airlines (NYSE: LUV) were both down around 3%. Although the major companies have greater international exposure that presents additional obstacles to overcome, the primary problem facing airlines is how to adapt their business models to deal with the new reality of health and safety consciousness while remaining profitable. Most companies have already sought to raise capital from the financial markets, and government assistance has also been an option to help airlines maintain their labor forces and stay afloat.
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Delta Air Lines (NYSE: DAL) gave up 4%, while American Airlines Group (NASDAQ: AAL) and Southwest Airlines (NYSE: LUV) were both down around 3%. Spirit Airlines (NYSE: SAVE) and JetBlue Airways (NASDAQ: JBLU) finished lower by 5%, while Hawaiian Holdings (NASDAQ: HA) settled for a 4% drop and Alaska Air (NYSE: ALK) was down 3%. The Motley Fool recommends Alaska Air Group, Delta Air Lines, Hawaiian Holdings, JetBlue Airways, and Southwest Airlines.
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Delta Air Lines (NYSE: DAL) gave up 4%, while American Airlines Group (NASDAQ: AAL) and Southwest Airlines (NYSE: LUV) were both down around 3%. Spirit Airlines (NYSE: SAVE) and JetBlue Airways (NASDAQ: JBLU) finished lower by 5%, while Hawaiian Holdings (NASDAQ: HA) settled for a 4% drop and Alaska Air (NYSE: ALK) was down 3%. 10 stocks we like better than United Airlines Holdings When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen.
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Delta Air Lines (NYSE: DAL) gave up 4%, while American Airlines Group (NASDAQ: AAL) and Southwest Airlines (NYSE: LUV) were both down around 3%. Today's stock market American is looking to sell $2 billion in high-yield bonds, with the idea of raising even more capital to make sure that it has enough cash reserves to weather an extended period of sluggish performance or a second wave of shutdowns.
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85e57149-5d6a-4fa3-9c1c-5c8cd8a58b37
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5663.0
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2020-06-19 00:00:00 UTC
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Why Airline Shares Are Falling Today
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AAL
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https://www.nasdaq.com/articles/why-airline-shares-are-falling-today-2020-06-19
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nan
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nan
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What happened
Airline investors remain skittish, worried that a second wave of the COVID-19 pandemic could wipe out the gains the sector has made since early April and send travel demand numbers tumbling again. The stocks sold off on Friday afternoon after Apple provided fresh reason for concern about the spread of the outbreak.
Shares of United Airlines Holdings (NASDAQ: UAL) were down 7.5% as of 2 p.m. EDT, while shares of Allegiant Travel (NASDAQ: ALGT), Spirit Airlines (NYSE: SAVE), and JetBlue Airways (NASDAQ: JBLU) were all down more than 5%.
The entire industry was under pressure, with shares of Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), Southwest Airlines (NYSE: LUV), Hawaiian Holdings (NASDAQ: HA), and Alaska Air Group (NYSE: ALK) all down 4%.
So what
Airline stocks are well off their COVID-19 lows, encouraged by airline efforts to rebuild parts of their schedules for late summer travel. The industry has raised tens of billions in new funding to help survive the pandemic, but need travel demand, and with it revenue, to rebound in the quarters to come to avoid liquidity issues.
Image source: Getty Images.
The stocks in recent weeks have traded up or down along with broader market sentiment about how soon the pandemic will be behind us, or whether there will be a second wave. On Friday Apple sounded the alarm about growing case numbers in key states, causing investors to head for the exits.
Apple said it would temporarily shut down retail locations in Florida, Arizona, North Carolina, and South Carolina due to a spike in new COVID-19 cases in those areas. Further closures are possible, as new cases are also on the rise in Texas and California among other states.
The areas impacted are of particular significance to the airlines because for the most part cases are spiking in states that are popular domestic summer vacation destinations. The recent rebound in travel demand has been primarily for domestic leisure travel. If states like Florida have to shut down, a lot of those bookings are going to turn into cancellations.
The airlines continue to brace for the worse. American is reportedly seeking to line up $2 billion in fresh funding via a junk bond sale.
Now what
It seems increasingly likely the pandemic is going to be with us for a while. That's not good news for airline investors, and the stocks are trading off accordingly.
The good news is the airlines are making steady progress bringing down costs and lengthening their runways. This week alone, Southwest said it has enough cash to last two years at current burn rates, while Delta expressed confidence it can reduce its cash burn to zero by early 2021.
These are scary times to be an airline investor, and those interested in buying in should brace themselves for months of turbulence up ahead. I continue to believe that the markets are underestimating the amount of cash the entire industry has available to it to help the companies survive even an extended downturn, but given the risks and the uncertainty would advise sticking to top names with the best balance sheets if you want to buy in.
10 stocks we like better than JetBlue Airways
When investing geniuses David and Tom Gardner have 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.*
David and Tom 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.
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*Stock Advisor returns as of June 2, 2020
Lou Whiteman owns shares of Delta Air Lines and Spirit Airlines. The Motley Fool owns shares of and recommends Apple and Spirit Airlines. The Motley Fool recommends Alaska Air Group, Delta Air Lines, Hawaiian Holdings, JetBlue Airways, and Southwest Airlines. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The entire industry was under pressure, with shares of Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), Southwest Airlines (NYSE: LUV), Hawaiian Holdings (NASDAQ: HA), and Alaska Air Group (NYSE: ALK) all down 4%. What happened Airline investors remain skittish, worried that a second wave of the COVID-19 pandemic could wipe out the gains the sector has made since early April and send travel demand numbers tumbling again. The industry has raised tens of billions in new funding to help survive the pandemic, but need travel demand, and with it revenue, to rebound in the quarters to come to avoid liquidity issues.
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The entire industry was under pressure, with shares of Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), Southwest Airlines (NYSE: LUV), Hawaiian Holdings (NASDAQ: HA), and Alaska Air Group (NYSE: ALK) all down 4%. The Motley Fool owns shares of and recommends Apple and Spirit Airlines. The Motley Fool recommends Alaska Air Group, Delta Air Lines, Hawaiian Holdings, JetBlue Airways, and Southwest Airlines.
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The entire industry was under pressure, with shares of Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), Southwest Airlines (NYSE: LUV), Hawaiian Holdings (NASDAQ: HA), and Alaska Air Group (NYSE: ALK) all down 4%. Shares of United Airlines Holdings (NASDAQ: UAL) were down 7.5% as of 2 p.m. EDT, while shares of Allegiant Travel (NASDAQ: ALGT), Spirit Airlines (NYSE: SAVE), and JetBlue Airways (NASDAQ: JBLU) were all down more than 5%. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Lou Whiteman owns shares of Delta Air Lines and Spirit Airlines.
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The entire industry was under pressure, with shares of Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), Southwest Airlines (NYSE: LUV), Hawaiian Holdings (NASDAQ: HA), and Alaska Air Group (NYSE: ALK) all down 4%. The industry has raised tens of billions in new funding to help survive the pandemic, but need travel demand, and with it revenue, to rebound in the quarters to come to avoid liquidity issues. That's right -- they think these 10 stocks are even better buys.
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5664.0
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2020-06-18 00:00:00 UTC
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Report: Airline Industry Suppliers Brace for $60 Billion in Lost Sales
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AAL
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https://www.nasdaq.com/articles/report%3A-airline-industry-suppliers-brace-for-%2460-billion-in-lost-sales-2020-06-18
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Airlines have recently been seeing an uptick in demand off of COVID-19 pandemic lows, but still plan on a significantly reduced schedule through at least the summer. Delta Air Lines (NYSE: DAL) has said that, even after adding more flights back for July, it expects to have a schedule down 70% compared to July 2019.
With many aircraft moved out of service, maintenance firms and producers of aircraft parts will see a loss of $60 billion in sales this year, according to a Reuters report. The businesses don't expect an improvement any time soon. American Airlines Group (NASDAQ: AAL), for example, has announced that it is permanently retiring some models and is parking its fleet of Airbus (OTC: EADSY) A330-200's through at least 2021.
Image source: Getty Images.
Due to lack of demand, airplanes in use for 2021 will be down more than 25% compared to the number in use for 2019, reports Reuters. Less airplanes in use means less need for servicing. As a result, many suppliers will be affected, from a host of small players to big companies like engine maker General Electric (NYSE: GE) and systems firms like Honeywell (NYSE: HON) and Raytheon Technologies (NYSE: RTX).
The report cited industry analyst Richard Aboulafia at aerospace consultancy Teal Group, who estimates a 75% decline in services revenue resulting in $60 billion in lost sales. The International Air Transport Association (IATA) predicted in its latest analysis that airlines will lose $84 billion in 2020. It said that passenger airline revenue would drop by $371 billion in 2020.
10 stocks we like better than Delta Air Lines
When investing geniuses David and Tom Gardner have 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.*
David and Tom 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 June 2, 2020
Howard Smith has no position in any of the stocks mentioned. The Motley Fool recommends Delta Air Lines. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group (NASDAQ: AAL), for example, has announced that it is permanently retiring some models and is parking its fleet of Airbus (OTC: EADSY) A330-200's through at least 2021. Airlines have recently been seeing an uptick in demand off of COVID-19 pandemic lows, but still plan on a significantly reduced schedule through at least the summer. The report cited industry analyst Richard Aboulafia at aerospace consultancy Teal Group, who estimates a 75% decline in services revenue resulting in $60 billion in lost sales.
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American Airlines Group (NASDAQ: AAL), for example, has announced that it is permanently retiring some models and is parking its fleet of Airbus (OTC: EADSY) A330-200's through at least 2021. Delta Air Lines (NYSE: DAL) has said that, even after adding more flights back for July, it expects to have a schedule down 70% compared to July 2019. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
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American Airlines Group (NASDAQ: AAL), for example, has announced that it is permanently retiring some models and is parking its fleet of Airbus (OTC: EADSY) A330-200's through at least 2021. 10 stocks we like better than Delta Air Lines When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. * David and Tom 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!
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American Airlines Group (NASDAQ: AAL), for example, has announced that it is permanently retiring some models and is parking its fleet of Airbus (OTC: EADSY) A330-200's through at least 2021. Due to lack of demand, airplanes in use for 2021 will be down more than 25% compared to the number in use for 2019, reports Reuters. * David and Tom 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!
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2020-06-18 00:00:00 UTC
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Why You Should Buy Delta After Its Recent Rally
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AAL
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https://www.nasdaq.com/articles/why-you-should-buy-delta-after-its-recent-rally-2020-06-18
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Airline stocks enjoyed a remarkable run at the stock market as airline traffic rises off April lows. Delta Airlines (NYSE:DAL) stock is up 60% in the last month after bouncing off March and April lows.
Source: Markus Mainka / Shutterstock.com
U.S. airlines are expected to carry 29.6 million seats on domestic flights, which is up 29% from May but down 66% from the year-ago level. In catering to the rebound in traffic, American Airlines (NASDAQ:AAL), Delta and United Airlines (NASDAQ:UAL) have collectively gotten out 150 stored jets back into service since mid-May.
The 10 Best Growth Stocks to Buy With Rates at Zero
The uptick demand is encouraging, but it’s still nowhere close to the pre-pandemic levels. However, it will aid airline companies in lowering daily cash burn. Delta, in particular, was burning $100 million a day at the end of March, but through effective belt-tightening measures, it has limited cash burn to $40 million a day.
With a healthy operating cash flow of 40.4%, keenness to embrace change and its relatively strong liquidity figures, Delta is an impressive long-term play.
How Worrying is Delta’s Debt Position?
Delta’s management recently announced that the company might default on some of its debt obligations if it isn’t able to renegotiate its terms. The company feels that it would not be able to satisfy minimum “fixed charge coverage ratios” for its debt obligations by early 2021.
The news has had investors worried about the company’s future ending DAL stock’s week-long rally.
On an overall front, the company is one of the legacy carriers having a pristine balance sheet. It has ample cash and financial flexibility to get through the pandemic. It raised more than $10 billion since early March, which includes senior secured notes worth $3.5 billion, two loan facilities worth $4.4 billion and an additional $3.8 billion government funding under the CARES Act for payroll support.
Additionally, the company expects to have roughly $14 billion in cash and cash equivalents by the end of this month.
Delta has also done a fantastic job of reducing operating costs to reduce the daily cash burn by 60% from its March levels. A lot of it is attributable to staff retirements and one-third of its workforce taking voluntary unpaid leaves of 30 days to one year.
Moreover, reduced loads mean fewer passenger and maintenance costs. It has also suspended capital expenditures for the time being. These efforts have reduced operating costs by 50% between March and May.
Embracing the New Normal
Click to Enlarge
Source: Shayanne Gal/Business Insider
It’s no secret that the novel coronavirus pandemic completely altered the landscape for several industries. Specifically, the travel industry is perhaps the most affected sector of all, and the pandemic is expected to usher in a new era of air travel.
Higher fares, enhanced medical protocols, fewer routes, and less free food are likely to be part of the revamped business airline business model. Airline companies who are pro-active in embracing the new normal will benefit the most in these trying times and the foreseeable future.
Medical protocols are perhaps the most obvious consideration for airline companies at this time. Most legacy carriers have significantly improved their safety measures, but Delta appears to edge ahead of the other three legacy carriers based on four safety measures. These measures include blocking middle seats, required face coverings for passengers, disinfecting aircraft and taking passenger temperatures.
Apart from taking passenger temperatures, Delta is ticking all the boxes. The company is limiting passenger loads to 50% in first class and 60% in economy cabins. Moreover, it is distributing essential kits to passengers, which includes snacks, water bottles, and hand sanitizers.
If a place is too crowded, passengers can be adjusted on a different flight free of charge. Face coverings are also mandatory on all Delta flights, and electrostatic sprayers are used to disinfect the aircraft.
Valuation of DAL Stock
As mentioned before, DAL stock is up 60% this month and is currently priced near $31. Airline stocks are rallying in the past few weeks on the back of the increase in traffic and improved investor confidence in the market.
Analysts believe that the mean price target for DAL stock is $35.10, which means that it is undervalued by 14.2%. Due to the volatility in the market over the past three months, the price target for DAL stock has decreased markedly from $66.60 to $35.10, representing a loss of 47.3%.
The recent suspension of dividends has also negatively impacted the stock price. High estimates for the stock are estimated at $47, which is what DAL stock was trading at in early March.
The Bottom Line on DAL stock
DAL stock is for investors looking to scoop up the best of the airline stocks in the market. Though the company will probably be taking a hammering in the second quarter, expect things to change at the tail end of the year.
I believe that the stock price will jump around the high estimates, and now is probably the best time to grab the stock at a significant bargain.
As of this writing, Muslim Farooque did not hold a position in any of the aforementioned securities.
The post Why You Should Buy Delta After Its Recent Rally appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In catering to the rebound in traffic, American Airlines (NASDAQ:AAL), Delta and United Airlines (NASDAQ:UAL) have collectively gotten out 150 stored jets back into service since mid-May. With a healthy operating cash flow of 40.4%, keenness to embrace change and its relatively strong liquidity figures, Delta is an impressive long-term play. Airline stocks are rallying in the past few weeks on the back of the increase in traffic and improved investor confidence in the market.
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In catering to the rebound in traffic, American Airlines (NASDAQ:AAL), Delta and United Airlines (NASDAQ:UAL) have collectively gotten out 150 stored jets back into service since mid-May. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Airline stocks enjoyed a remarkable run at the stock market as airline traffic rises off April lows. It raised more than $10 billion since early March, which includes senior secured notes worth $3.5 billion, two loan facilities worth $4.4 billion and an additional $3.8 billion government funding under the CARES Act for payroll support.
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In catering to the rebound in traffic, American Airlines (NASDAQ:AAL), Delta and United Airlines (NASDAQ:UAL) have collectively gotten out 150 stored jets back into service since mid-May. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Airline stocks enjoyed a remarkable run at the stock market as airline traffic rises off April lows. Delta Airlines (NYSE:DAL) stock is up 60% in the last month after bouncing off March and April lows.
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In catering to the rebound in traffic, American Airlines (NASDAQ:AAL), Delta and United Airlines (NASDAQ:UAL) have collectively gotten out 150 stored jets back into service since mid-May. The news has had investors worried about the company’s future ending DAL stock’s week-long rally. Additionally, the company expects to have roughly $14 billion in cash and cash equivalents by the end of this month.
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2020-06-18 00:00:00 UTC
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S.Africa's Amplats targets mines at 75-80% capacity by end-year
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AAL
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https://www.nasdaq.com/articles/s.africas-amplats-targets-mines-at-75-80-capacity-by-end-year-2020-06-18
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Adds details of COVID-19 screening, risk levels
JOHANNESBURG, June 18 (Reuters) - Anglo American Platinum AMSJ.J expects to bring its mining production back up to 75% to 80% of capacity by the end of this year as South African mines recover from a forced COVID-19 shutdown, CEO Natascha Viljoen said on Thursday.
"Our ramp-up is targeted to get to 75 or 80 percent towards the end of the year," she told reporters. Production lost during South Africa's early lockdown, when most mines in the country shut down, would probably not be recovered, she said.
Viljoen, who was appointed as CEO in April, estimated the platinum miner had spent 25 million rand ($1.45 million) on sanitation and personal protective equipment at its mines so far.
With COVID-19 screening procedures in place at the mines, Viljoen said she estimates they will have an infection rate of between 7% and 10%.
Mining companies in South Africa are anxious about managing COVID-19 and preventing outbreaks at mine sites where workers are in close quarters and confined spaces.
AngloGold Ashanti's ANGJ.J Mponeng gold mine - the deepest in the world - shut down for just over a week earlier this month after 196 workers tested positive for COVID-19.
Under Amplats' risk assessments they would likely close a mine if 20% of workers test positive, Viljoen said, although if the workers are concentrated in a particular area of the mine they might close just one part of the mine.
According to mining industry body the Minerals Council, 12,131 COVID-19 tests have been conducted across South Africa's mines, 1,133 of which came out positive.
Despite supply chain disruptions, Viljoen said Amplats has been able to export all its platinum, though it has had to use different routes.
Amplats has spent around 1 billion Rand on the salaries of employees not at work, she said.
($1 = 17.1923 rand)
(Reporting by Helen Reid; Editing by Mark Potter and Toby Chopra)
((Helen.Reid@thomsonreuters.com; +27 11 595 2852;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds details of COVID-19 screening, risk levels JOHANNESBURG, June 18 (Reuters) - Anglo American Platinum AMSJ.J expects to bring its mining production back up to 75% to 80% of capacity by the end of this year as South African mines recover from a forced COVID-19 shutdown, CEO Natascha Viljoen said on Thursday. Production lost during South Africa's early lockdown, when most mines in the country shut down, would probably not be recovered, she said. AngloGold Ashanti's ANGJ.J Mponeng gold mine - the deepest in the world - shut down for just over a week earlier this month after 196 workers tested positive for COVID-19.
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Viljoen, who was appointed as CEO in April, estimated the platinum miner had spent 25 million rand ($1.45 million) on sanitation and personal protective equipment at its mines so far. AngloGold Ashanti's ANGJ.J Mponeng gold mine - the deepest in the world - shut down for just over a week earlier this month after 196 workers tested positive for COVID-19. Under Amplats' risk assessments they would likely close a mine if 20% of workers test positive, Viljoen said, although if the workers are concentrated in a particular area of the mine they might close just one part of the mine.
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Adds details of COVID-19 screening, risk levels JOHANNESBURG, June 18 (Reuters) - Anglo American Platinum AMSJ.J expects to bring its mining production back up to 75% to 80% of capacity by the end of this year as South African mines recover from a forced COVID-19 shutdown, CEO Natascha Viljoen said on Thursday. Mining companies in South Africa are anxious about managing COVID-19 and preventing outbreaks at mine sites where workers are in close quarters and confined spaces. Under Amplats' risk assessments they would likely close a mine if 20% of workers test positive, Viljoen said, although if the workers are concentrated in a particular area of the mine they might close just one part of the mine.
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Adds details of COVID-19 screening, risk levels JOHANNESBURG, June 18 (Reuters) - Anglo American Platinum AMSJ.J expects to bring its mining production back up to 75% to 80% of capacity by the end of this year as South African mines recover from a forced COVID-19 shutdown, CEO Natascha Viljoen said on Thursday. Production lost during South Africa's early lockdown, when most mines in the country shut down, would probably not be recovered, she said. Under Amplats' risk assessments they would likely close a mine if 20% of workers test positive, Viljoen said, although if the workers are concentrated in a particular area of the mine they might close just one part of the mine.
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5667.0
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2020-06-18 00:00:00 UTC
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Lawyer asks UN to intervene with Cerrejon mine on behalf of indigenous Colombians
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https://www.nasdaq.com/articles/lawyer-asks-un-to-intervene-with-cerrejon-mine-on-behalf-of-indigenous-colombians-2020-06
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By Julia Symmes Cobb
BOGOTA, June 18 (Reuters) - A British barrister is asking the United Nations Special Rapporteur to intervene with coal miner Cerrejon on behalf of Wayuu indigenous people in Colombia allegedly suffering damage to their health amid the coronavirus pandemic.
Cerrejon, which is owned equally by BHP Group BHP.AX, Anglo American AAL.L and Glencore GLEN.L, rejected the allegations, saying information in the claim was wrong.
Cerrejon had initially reduced operations during Colombia's nationwide quarantine, but began normalizing its work last month.
The request is the latest salvo in long-running disputes between the company and the Wayuu over water use and pollution, dust, noise and health issues in desert La Guajira province.
The Wayuu, who often get by on subsistence ranching and sometimes gasoline smuggling, have long been plagued by malnutrition among children and a lack of fresh drinking water.
The Provincial community, located near Cerrejon's mine, "have filed an urgent request for the intervention of the UN Special Rapporteur on the issue of human rights obligations," the Twenty Essex legal chambers of London said in a statement.
"The company has resumed operations during COVID-19, placing the community at risk and increasing their vulnerability in a context of water scarcity," the statement said. "In the prevailing lockdown it is even more difficult for the Wayuu to access water."
The Wayuu have a history of respiratory diseases and are vulnerable to coronavirus, it said, adding that when mining activities were suspended there was an improvement in the community's health.
"In essence, the communities are seeking the suspension of all mining activities by Cerrejon in the current context," barrister Monica Feria-Tinta said.
The claim is mostly based on a recent ruling from Colombia's Constitutional Court which ordered the company to prevent water pollution and control emissions, among other things, Feria-Tinta told Reuters via email. The United Nations may take some weeks to reply, she said.
Cerrejon roundly rejected the statement from Twenty Essex.
"We emphatically reject the presentation of inaccurate and biased information about Cerrejon's social and environmental performance, including completely false data on the company's water use and air quality," Cerrejon said in a statement.
The company is ready to provide information to the United Niations, it said, adding it has redirected social investment to the province's health system amid COVID-19 and donated 12 million liters of water to communities including Provincial.
"We refute strongly the allegations and the insinuation that we have acted inappropriately, both in general and during the COVID-19 pandemic," it added.
Pollution can exacerbate coronavirus infections, air quality experts and medics have said.
(Reporting by Julia Symmes Cobb; editing by Jonathan Oatis)
((julia.cobb@thomsonreuters.com; +57-316-389-7187;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Cerrejon, which is owned equally by BHP Group BHP.AX, Anglo American AAL.L and Glencore GLEN.L, rejected the allegations, saying information in the claim was wrong. By Julia Symmes Cobb BOGOTA, June 18 (Reuters) - A British barrister is asking the United Nations Special Rapporteur to intervene with coal miner Cerrejon on behalf of Wayuu indigenous people in Colombia allegedly suffering damage to their health amid the coronavirus pandemic. The Provincial community, located near Cerrejon's mine, "have filed an urgent request for the intervention of the UN Special Rapporteur on the issue of human rights obligations," the Twenty Essex legal chambers of London said in a statement.
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Cerrejon, which is owned equally by BHP Group BHP.AX, Anglo American AAL.L and Glencore GLEN.L, rejected the allegations, saying information in the claim was wrong. By Julia Symmes Cobb BOGOTA, June 18 (Reuters) - A British barrister is asking the United Nations Special Rapporteur to intervene with coal miner Cerrejon on behalf of Wayuu indigenous people in Colombia allegedly suffering damage to their health amid the coronavirus pandemic. "In essence, the communities are seeking the suspension of all mining activities by Cerrejon in the current context," barrister Monica Feria-Tinta said.
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Cerrejon, which is owned equally by BHP Group BHP.AX, Anglo American AAL.L and Glencore GLEN.L, rejected the allegations, saying information in the claim was wrong. By Julia Symmes Cobb BOGOTA, June 18 (Reuters) - A British barrister is asking the United Nations Special Rapporteur to intervene with coal miner Cerrejon on behalf of Wayuu indigenous people in Colombia allegedly suffering damage to their health amid the coronavirus pandemic. "We emphatically reject the presentation of inaccurate and biased information about Cerrejon's social and environmental performance, including completely false data on the company's water use and air quality," Cerrejon said in a statement.
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Cerrejon, which is owned equally by BHP Group BHP.AX, Anglo American AAL.L and Glencore GLEN.L, rejected the allegations, saying information in the claim was wrong. By Julia Symmes Cobb BOGOTA, June 18 (Reuters) - A British barrister is asking the United Nations Special Rapporteur to intervene with coal miner Cerrejon on behalf of Wayuu indigenous people in Colombia allegedly suffering damage to their health amid the coronavirus pandemic. Cerrejon roundly rejected the statement from Twenty Essex.
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5668.0
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2020-06-17 00:00:00 UTC
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Is American Airlines' Loyalty Program Really Worth $31.5B?
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AAL
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https://www.nasdaq.com/articles/is-american-airlines-loyalty-program-really-worth-%2431.5b-2020-06-17
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After finalizing terms for $5.8 billion of CARES Act payroll support grants two months ago, American Airlines (NASDAQ: AAL) turned its attention to lining up a secured loan under the same program. The $4.75 billion loan it is potentially eligible for represents the crux of the airline's plan to boost liquidity to more than $11 billion by the end of June.
Last Friday, American Airlines told investors that it plans to pledge the AAdvantage loyalty program as collateral for the loan. The company said that third-party appraisals have pegged the program's value at anywhere between $19.5 billion and an eye-popping $31.5 billion.
Considering that American Airlines' market cap is less than $10 billion, these estimates might seem to suggest that investors are undervaluing the company as a whole. However, it's more likely that the appraisals are wildly overvaluing the AAdvantage program.
Running short on collateral
While the loan portion of airlines' payroll support funds is unsecured, the CARES Act calls for any additional loans to be secured, in order to protect taxpayers from potential losses.
During American Airlines' first-quarter earnings call, management indicated that between aircraft and spare parts; international slots, gates, and routes; corporate real estate; and other assets, the carrier had at least $10 billion of unencumbered assets. Given that the collateral must be worth significantly more than the loan value to provide adequate protection, American might have needed to pledge nearly all of these assets to get the full $4.75 billion loan it wants.
Image source: American Airlines.
However, American Airlines will almost certainly need to raise additional debt this year. If United Airlines' recent forecast is a guide, American is likely to continue burning tens of millions of dollars a day in the second half of 2020, potentially consuming $4 billion or more of cash. Without collateral to enable additional secured financings, the company could fall below its desired minimum cash position of $7 billion by year-end.
Pledging the AAdvantage program as collateral for the government loan will fix that problem. Once it locks down the CARES Act loan, American Airlines will have the flexibility to use its more traditional collateral to raise additional debt.
The problem with valuing loyalty programs
The AAdvantage loyalty program is certainly worth a meaningful amount. American's lucrative co-branded credit cards generate substantial cash flow. Furthermore, due to the lack of price competition, profit margins are much higher for the sale/issuance and redemption of miles compared to regular cash ticket purchases.
That said, the AAdvantage program is an integral part of American Airlines' business. As a theoretical stand-alone entity, the only asset belonging exclusively to AAdvantage is data: a list of customers' names, contact information, flight history, and perhaps also purchase histories for credit card holders. That's certainly worth something, but nowhere near $19.5 billion, let alone $31.5 billion.
Most of AAdvantage's value derives from its relationships and contracts with the airline, its credit card partners, and customers. Yet if American Airlines were to go out of business or stop using AAdvantage miles as a currency, the AAdvantage program would be far less valuable to customers and key partners like the credit card companies.
This is not just a theoretical concern. Air Canada was the first airline to spin off its loyalty program, a process it completed just before the Great Recession. The resulting company, Aimia, produced strong margins and was initially a popular investment. However, the spinoff meant that Air Canada lost control of its relationships with its best customers. Air Canada's contract with the loyalty program ran through 2020, and three years ago, it said that it would launch a new in-house loyalty program upon expiration of its contract with Aimia. You can see for yourself the results for Aimia stock.
Aimia Stock Performance by YCharts.
Ultimately, Air Canada agreed in 2018 to buy the program back from Aimia for just 450 million Canadian dollars ($345 million). In short, the loyalty program was worth far less than investors had believed, as its value mostly derived from its contract with Air Canada. Once that contract expired, the true value (or lack thereof) of the loyalty program as distinct from the airline business became evident.
Whatever AAdvantage is worth, it's not $31.5 billion
The lesson from the Air Canada-Aimia debacle is that the relationship between an airline and its loyalty program is at best a zero-sum game. A longer contract and more favorable terms increase the value of the loyalty program, but if the terms are too onerous, the airline could be forced into bankruptcy. In that case, the contract could be worthless, severely reducing the value of the loyalty program.
American Airlines' adjusted net income totaled between $2.1 billion and $2.2 billion in 2018 and 2019. Operating cash flow before pension contributions was about $5 billion last year and $4 billion a year earlier, while management has estimated steady-state annual capital expenditures at $3 billion a year. Minimum pension funding averages about $500 million annually over the next five years.
In short, American Airlines is not producing enough cash under steady-state conditions for the entire business to be worth anywhere near $31.5 billion. Moreover, it could be several years before profitability returns to pre-pandemic levels. As a result, the loyalty program cannot be worth $31.5 billion.
Indeed, if we were to assume annual free cash flow of $1.5 billion for the AAdvantage program -- which might be consistent with a $31.5 billion valuation -- separating that cash flow from the airline would leave the rest of American Airlines as a heavily indebted company that could barely break even during the best of times. It would be ripe for bankruptcy, which would in turn destroy the loyalty program's value. The loyalty program may be able to serve as collateral for American Airlines' CARES Act loan, but investors shouldn't count on the company tapping any further value from it.
10 stocks we like better than American Airlines Group
When investing geniuses David and Tom Gardner have 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.*
David and Tom 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 June 2, 2020
Adam Levine-Weinberg has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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After finalizing terms for $5.8 billion of CARES Act payroll support grants two months ago, American Airlines (NASDAQ: AAL) turned its attention to lining up a secured loan under the same program. If United Airlines' recent forecast is a guide, American is likely to continue burning tens of millions of dollars a day in the second half of 2020, potentially consuming $4 billion or more of cash. The loyalty program may be able to serve as collateral for American Airlines' CARES Act loan, but investors shouldn't count on the company tapping any further value from it.
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After finalizing terms for $5.8 billion of CARES Act payroll support grants two months ago, American Airlines (NASDAQ: AAL) turned its attention to lining up a secured loan under the same program. Running short on collateral While the loan portion of airlines' payroll support funds is unsecured, the CARES Act calls for any additional loans to be secured, in order to protect taxpayers from potential losses. Operating cash flow before pension contributions was about $5 billion last year and $4 billion a year earlier, while management has estimated steady-state annual capital expenditures at $3 billion a year.
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After finalizing terms for $5.8 billion of CARES Act payroll support grants two months ago, American Airlines (NASDAQ: AAL) turned its attention to lining up a secured loan under the same program. Last Friday, American Airlines told investors that it plans to pledge the AAdvantage loyalty program as collateral for the loan. Air Canada's contract with the loyalty program ran through 2020, and three years ago, it said that it would launch a new in-house loyalty program upon expiration of its contract with Aimia.
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After finalizing terms for $5.8 billion of CARES Act payroll support grants two months ago, American Airlines (NASDAQ: AAL) turned its attention to lining up a secured loan under the same program. Air Canada's contract with the loyalty program ran through 2020, and three years ago, it said that it would launch a new in-house loyalty program upon expiration of its contract with Aimia. In short, the loyalty program was worth far less than investors had believed, as its value mostly derived from its contract with Air Canada.
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e650d216-9379-4949-8507-724525c69682
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5669.0
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2020-06-17 00:00:00 UTC
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How Bulls and Bears Should Trade Boeing Stock Now
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AAL
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https://www.nasdaq.com/articles/how-bulls-and-bears-should-trade-boeing-stock-now-2020-06-17
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Tuesday’s stock rally generated mixed signals for Boeing (NYSE:BA) shares. The fallen aerospace juggernaut finished the day up 3.6%, but it was well off its morning highs. Boeing stock is flying in the middle of its recent range, making this is a tough spot to deploy directional trades.
Source: VDB Photos / Shutterstock.com
With this in mind, I’ll focus on how you can use options to increase your odds of success.
Let’s start with some interesting observations on the persistent correlation between companies in the airline industry. You’ll recall that in bear markets, correlations run to one. Said another way, the market becomes monolithic, with everything rising and falling as one. Stock picking loses its efficacy.
Boeing and JETS Are Linked at the Hip
When a bull market returns, however, correlations weaken, and individual stocks start behaving more independently. To anyone watching over the past few months, it’s evident that buyers have returned, and the S&P 500 is best defined is in a bull market. What else would you call a 44% rip off the lows over three months?
But here’s what I find intriguing.
Airlines are still moving as one. And that includes Boeing stock. Its price chart mirrors that of Delta (NYSE:DAL), American Airlines (NASDAQ:AAL), Southwest Airlines (NYSE:LUV) and just about every other airline-related company I can think of. For simplicity, we could use the super popular Global Jets ETF (NYSEARCA:JETS), which is shown below.
Source: The thinkorswim® platform from TD Ameritrade
On days where JETS is jumping, Boeing is too. The same goes when the fund is sinking. To measure the relationship between the two, here’s a daily chart of Boeing stock with a 10-day correlation to the JETS ETF displayed in the lower panel. The reading is 0.94, which is virtually as high as it gets. This wasn’t always the case.
15 Red-Hot Online Retail Stocks Soaring High in 2020
Once upon a time, Boeing traded based on its fundamentals. Its fate wasn’t tied directly to that of the airline industry. But the novel coronavirus’ arrival changed everything. As soon as March hit, the correlation reading ramped to 1.00, and it has barely budged since.
Source: The thinkorswim® platform from TD Ameritrade
Until this changes, I see little reason in spending a lot of time scouring Boeing’s news or fundamental data. The market is viewing it as a proxy play on the entire airline industry. As goes one, so goes the other.
Boeing Stock Charts
Despite Boeing’s inability to hold onto the entirety of Tuesday’s gains, the fact is, it did still close in the green. And with that, it has notched a third up day in a row to build on Friday’s rebound attempt. Buyers have to be happy that Boeing stock held its breakout area during last week’s retest. The support zone that I’m watching is $165. As long as we remain above that, bulls deserve the benefit of the doubt. The rising 20-day and 50-day moving averages are also helping the bullish case.
The next resistance zone is $230, so that’s the upside target. With today’s close near $200, we’re effectively right in the middle of both zones. That makes this a tricky entry for directional plays because the risk/reward isn’t all that favorable. But if you’re dead set on placing a bet, implied volatility is high enough to make short options strategies interesting. And you can tilt the trade bullish or bearish depending on which way you think Boeing resolves itself in the coming month.
Bulls: Sell the July $150/$145 bull put spread for around 80 cents.
Bears: Sell the July $260/$265 bear call spread for around 70 cents.
For a free trial to the best trading community on the planet and Tyler’s current home, click here! As of this writing, Tyler didn’t hold positions in any of the aforementioned securities.
The post How Bulls and Bears Should Trade Boeing Stock Now appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Its price chart mirrors that of Delta (NYSE:DAL), American Airlines (NASDAQ:AAL), Southwest Airlines (NYSE:LUV) and just about every other airline-related company I can think of. Boeing and JETS Are Linked at the Hip When a bull market returns, however, correlations weaken, and individual stocks start behaving more independently. To measure the relationship between the two, here’s a daily chart of Boeing stock with a 10-day correlation to the JETS ETF displayed in the lower panel.
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Its price chart mirrors that of Delta (NYSE:DAL), American Airlines (NASDAQ:AAL), Southwest Airlines (NYSE:LUV) and just about every other airline-related company I can think of. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Tuesday’s stock rally generated mixed signals for Boeing (NYSE:BA) shares. Source: The thinkorswim® platform from TD Ameritrade On days where JETS is jumping, Boeing is too.
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Its price chart mirrors that of Delta (NYSE:DAL), American Airlines (NASDAQ:AAL), Southwest Airlines (NYSE:LUV) and just about every other airline-related company I can think of. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Tuesday’s stock rally generated mixed signals for Boeing (NYSE:BA) shares. Boeing and JETS Are Linked at the Hip When a bull market returns, however, correlations weaken, and individual stocks start behaving more independently.
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Its price chart mirrors that of Delta (NYSE:DAL), American Airlines (NASDAQ:AAL), Southwest Airlines (NYSE:LUV) and just about every other airline-related company I can think of. Source: The thinkorswim® platform from TD Ameritrade On days where JETS is jumping, Boeing is too. The reading is 0.94, which is virtually as high as it gets.
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0bc70c38-f282-4d11-8c4a-569c3f17d37b
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5670.0
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2020-06-17 00:00:00 UTC
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Why Airline Shares Are Down Today
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AAL
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https://www.nasdaq.com/articles/why-airline-shares-are-down-today-2020-06-17
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nan
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nan
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What happened
Airline stocks are underperforming the broader markets on Wednesday despite some positive analyst commentary, with investors focused instead on worrisome data about the continuing spread of the COVID-19 pandemic.
Spirit Airlines (NYSE: SAVE) is leading the group lower as of 1 p.m. EDT, down 5%, while shares of United Airlines Holdings (NASDAQ: UAL), American Airlines Group (NASDAQ: AAL), and Delta Air Lines (NYSE: DAL) were all down more than 2%.
Southwest Airlines (NYSE: LUV) was the best performing U.S. airline stock as of mid-day following the release of some optimistic financial data.
So what
Airline stocks have been circling the airport in recent weeks, with investors torn between positive signs that traffic is slowly recovering and ominous headlines reminding that the pandemic is far from resolved.
The industry has raised tens of billions in fresh capital and has ample liquidity to survive into the fall, but needs travel demand, and revenue, to return in the months to come to avoid an eventual liquidity crisis.
Image source: Getty Images.
On Wednesday, The Washington Post published an analysis saying that nine states, including tourism hotbeds Florida and Texas, either posted new single-day highs or set records for seven-day new case averages.
It's unclear whether the growing case numbers will cause states to rethink plans to reopen. Florida Gov. Ron DeSantis said Tuesday his state will not shut down again despite posting a record high in new cases. But if there is one thing we've learned this year it is that a pandemic is very hard to predict, and if the case numbers keep growing local officials might not have a choice.
The COVID-19 worries are outweighing positive commentary by Seaport Global analyst Daniel McKenzie, who on Wednesday initiated American, Southwest, Spirit, United, and JetBlue Airways as buys.
Southwest is holding up better than most thanks to an investor update that indicates the airline is well prepared to deal with an extended downturn. On Wednesday, the company said it has enough cash on hand to survive two years at its current burn rate of about $20 million per day.
Now what
Airline stocks have become a good measure to use to gauge the day-to-day market sentiment about the spread of the pandemic. For months now, the airlines have tended to move in groups, based more on the prospects for future travel than on individual company news.
That's likely to remain the case until we have more clarity about what will become of the pandemic, but Southwest on Wednesday did provide a reminder that not all balance sheets are created equal. Shares of Southwest, though down 32% for the year, have held up better than most airline stocks. The company's financial update justifies that performance.
For now, investors are best served by focusing on Southwest and other airline stocks that have the best chance of surviving whatever lies ahead for the industry. The one thing that seems certain right now is there will be more turbulence up ahead.
10 stocks we like better than Southwest Airlines
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Southwest Airlines wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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*Stock Advisor returns as of June 2, 2020
Lou Whiteman owns shares of Delta Air Lines and Spirit Airlines. The Motley Fool owns shares of and recommends Spirit Airlines. The Motley Fool recommends Delta Air Lines, JetBlue Airways, and Southwest Airlines. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Spirit Airlines (NYSE: SAVE) is leading the group lower as of 1 p.m. EDT, down 5%, while shares of United Airlines Holdings (NASDAQ: UAL), American Airlines Group (NASDAQ: AAL), and Delta Air Lines (NYSE: DAL) were all down more than 2%. What happened Airline stocks are underperforming the broader markets on Wednesday despite some positive analyst commentary, with investors focused instead on worrisome data about the continuing spread of the COVID-19 pandemic. So what Airline stocks have been circling the airport in recent weeks, with investors torn between positive signs that traffic is slowly recovering and ominous headlines reminding that the pandemic is far from resolved.
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Spirit Airlines (NYSE: SAVE) is leading the group lower as of 1 p.m. EDT, down 5%, while shares of United Airlines Holdings (NASDAQ: UAL), American Airlines Group (NASDAQ: AAL), and Delta Air Lines (NYSE: DAL) were all down more than 2%. The COVID-19 worries are outweighing positive commentary by Seaport Global analyst Daniel McKenzie, who on Wednesday initiated American, Southwest, Spirit, United, and JetBlue Airways as buys. The Motley Fool recommends Delta Air Lines, JetBlue Airways, and Southwest Airlines.
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Spirit Airlines (NYSE: SAVE) is leading the group lower as of 1 p.m. EDT, down 5%, while shares of United Airlines Holdings (NASDAQ: UAL), American Airlines Group (NASDAQ: AAL), and Delta Air Lines (NYSE: DAL) were all down more than 2%. Southwest Airlines (NYSE: LUV) was the best performing U.S. airline stock as of mid-day following the release of some optimistic financial data. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Lou Whiteman owns shares of Delta Air Lines and Spirit Airlines.
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Spirit Airlines (NYSE: SAVE) is leading the group lower as of 1 p.m. EDT, down 5%, while shares of United Airlines Holdings (NASDAQ: UAL), American Airlines Group (NASDAQ: AAL), and Delta Air Lines (NYSE: DAL) were all down more than 2%. What happened Airline stocks are underperforming the broader markets on Wednesday despite some positive analyst commentary, with investors focused instead on worrisome data about the continuing spread of the COVID-19 pandemic. Shares of Southwest, though down 32% for the year, have held up better than most airline stocks.
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6bafc166-81db-4f4c-acc7-9246d4f16224
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5671.0
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2020-06-17 00:00:00 UTC
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Beer Seen as Less Risky Than Spirits During the COVID-19 Pandemic
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AAL
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https://www.nasdaq.com/articles/beer-seen-as-less-risky-than-spirits-during-the-covid-19-pandemic-2020-06-17
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nan
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nan
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The novel coronavirus pandemic makes Diageo (NYSE: DEO) a riskier investment because of its exposure to the travel and tourism industry.
Credit Suisse analyst Sanjeet Aujla told investors in a note that he favored brewers over distillers right now because spirits are more apt to be consumed in restaurants and bars than beer. He downgraded Diageo's stock to neutral from outperform as a result.
Image source: Getty Images.
Going dry
Diageo derives a quarter of its revenue from Scotch whisky and owns the world's bestselling brand, Johnnie Walker. Vodka is the distiller's second-largest spirit, representing 11% of total sales, with brands including Smirnoff and Ketel One.
Diageo stock lost 40% of its value during the pandemic, falling from $170 a share down to $100. It has since regained much of the lost ground and now trades at $150 a stub.
In its last update on the impact of the novel coronavirus on its business, Diageo said the pandemic significantly disrupted its on-trade channel, which includes venues like restaurants, bars, clubs, and hotels. The channel accounts for 20% of U.S. spirits sales and 50% of Europe net sales.
Like many other businesses, the distiller withdrew its earnings guidance for the year and suspended its $5.6 billion share buyback program during the pandemic. The company issued new bonds and said it had sufficient committed lines of credit to make it through the crisis.
Analysts have also downgraded the outlook of Jack Daniel's whiskey maker Brown-Forman (NYSE: BF.A)(NYSE: BF.B) over similar concerns about on-premise sales.
Failing to gain altitude
The timing of the analyst's downgrade may seem curious now that restaurants and bars are reopening. But most establishments are reopening only with social distancing protocols, ensuring that they'll operate at less than full capacity. If the number of COVID-19 cases starts rising again -- and some indications suggest that's already happening -- it could put a damper on a rebound and lead states to reimpose restrictions.
The travel industry may have an even longer road to recovery. Even though it never fully shut down during the crisis, there was little incentive or ability for consumers to travel. Lockdown orders and stay-at-home policies made it impractical, and destinations often imposed quarantine rules upon arrival. Some 4.5 million passenger flights were canceled worldwide. These effects might linger.
To make up lost revenue as passengers disappeared, American Airlines (NASDAQ: AAL) and other carriers converted their passenger planes to cargo planes and began making as many as 140 flights per week as cargo carriers. It was the first time in 36 years that American carried cargo, but it wasn't enough to fill the hole left by the lack of passenger flights.
Where American had previously reported over $9.6 billion in passenger revenue, it recorded just $218 million in cargo revenue in the first quarter.
Beer is better -- sort of
Brewers may fare somewhat better than distillers, but they were hit hard too. Although off-premise sales have soared during the pandemic -- with one-week sales hitting $1 billion heading into Memorial Day weekend last month -- it hasn't been enough to offset the decline in sales of draft beer made on-premise.
It's also not actually beer that's selling, but rather flavored malt beverages like hard seltzer. Boston Beer (NYSE: SAM), which makes the second-biggest seltzer brand, Truly, saw earnings hurt by the pandemic -- though that may have been a function of demand for seltzer being so high that the company had to switch to more expensive third-party contractors to fill orders.
Big brewers like Boston Beer and Anheuser-Busch InBev (NYSE: BUD) can better weather the storm because their distribution networks place their beverages in national off-premise chains, like liquor stores and supermarkets. This option is largely unavailable to smaller craft brewers, who rely upon the on-premise sales from their own taprooms and brewpubs.
Pass the bottle
Whether you're a distiller or a brewer, the situation is dicey. But Diageo's global footprint means it's at risk everywhere because of the pandemic.
Betting on adult beverages might not be the best investment to make at this time.
10 stocks we like better than Diageo
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Diageo 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 June 2, 2020
Rich Duprey has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Boston Beer. The Motley Fool recommends Anheuser-Busch InBev NV and Diageo. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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To make up lost revenue as passengers disappeared, American Airlines (NASDAQ: AAL) and other carriers converted their passenger planes to cargo planes and began making as many as 140 flights per week as cargo carriers. Credit Suisse analyst Sanjeet Aujla told investors in a note that he favored brewers over distillers right now because spirits are more apt to be consumed in restaurants and bars than beer. In its last update on the impact of the novel coronavirus on its business, Diageo said the pandemic significantly disrupted its on-trade channel, which includes venues like restaurants, bars, clubs, and hotels.
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To make up lost revenue as passengers disappeared, American Airlines (NASDAQ: AAL) and other carriers converted their passenger planes to cargo planes and began making as many as 140 flights per week as cargo carriers. Big brewers like Boston Beer and Anheuser-Busch InBev (NYSE: BUD) can better weather the storm because their distribution networks place their beverages in national off-premise chains, like liquor stores and supermarkets. The Motley Fool owns shares of and recommends Boston Beer.
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To make up lost revenue as passengers disappeared, American Airlines (NASDAQ: AAL) and other carriers converted their passenger planes to cargo planes and began making as many as 140 flights per week as cargo carriers. Although off-premise sales have soared during the pandemic -- with one-week sales hitting $1 billion heading into Memorial Day weekend last month -- it hasn't been enough to offset the decline in sales of draft beer made on-premise. Boston Beer (NYSE: SAM), which makes the second-biggest seltzer brand, Truly, saw earnings hurt by the pandemic -- though that may have been a function of demand for seltzer being so high that the company had to switch to more expensive third-party contractors to fill orders.
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To make up lost revenue as passengers disappeared, American Airlines (NASDAQ: AAL) and other carriers converted their passenger planes to cargo planes and began making as many as 140 flights per week as cargo carriers. Diageo stock lost 40% of its value during the pandemic, falling from $170 a share down to $100. Failing to gain altitude The timing of the analyst's downgrade may seem curious now that restaurants and bars are reopening.
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08978b11-8da3-451c-8e85-305a18600e3d
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5672.0
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2020-06-17 00:00:00 UTC
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Chile copper mine workers seek dialogue as coronavirus outbreak explodes
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AAL
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https://www.nasdaq.com/articles/chile-copper-mine-workers-seek-dialogue-as-coronavirus-outbreak-explodes-2020-06-17
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nan
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nan
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By Fabian Cambero
SANTIAGO, June 17 (Reuters) - Unionized copper mine workers in Chile asked on Wednesday to be included in a dialogue between companies and the government to address the exploding coronavirus crisis in the world´s top producer of the red metal.
The Chilean Mines Federation - which groups the workers at Chile's principal copper deposits - has softened its tone since demanding on Sunday that authorities strengthen enforcement of safety rules following an "alarming" increase in coronavirus cases among miners.
"We want to request, as the largest mining organization in Chile, a three-way dialogue ... to prevent even more mine workers from becoming infected," the group said in a statement.
The federation also demanded that health and mining officials be more transparent in disclosing information about sanitary inspections at mines.
Chile´s sprawling copper and lithium mines have largely maintained operational continuity even as cases of COVID-19 have soared throughout the country in recent weeks. Authorities said in May the country´s copper industry ranked among the least affected globally by the pandemic, anticipating just a 1% reduction in output.
Chile´s Geology and Mining Service (Sernageomin) told Reuters earlier this week it had carried out thousands of inspections at various mining sites and dismissed allegations that companies were failing to comply.
An umbrella group for unionized workers at state-run Codelco said in a separate statement it would soon seek a meeting with Health Minister Enrique Paris to express its own concerns.
South America has in recent weeks become the epicenter of the global outbreak. Chile has reported more than 220,000 cases and 3,600 deaths from the disease, with new infections averaging 5,000 a day.
Chile is home to international mining giants BHP Group Ltd BHP.AX, Anglo American Plc AAL.L, Glencore Plc GLEN.L, Antofagasta Plc ANTO.L, Freeport McMoRan Inc FCX.N and state-run Codelco.
None of the companies have commented on the recent union statements.
(Reporting by Fabian Cambero; Writing by Dave Sherwood; Editing by Peter Cooney)
((dave.sherwood@thomsonreuters.com; +56 9 9138 1047, +56 2 2370 4224; Reuters Messaging: dave.sherwood.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Chile is home to international mining giants BHP Group Ltd BHP.AX, Anglo American Plc AAL.L, Glencore Plc GLEN.L, Antofagasta Plc ANTO.L, Freeport McMoRan Inc FCX.N and state-run Codelco. By Fabian Cambero SANTIAGO, June 17 (Reuters) - Unionized copper mine workers in Chile asked on Wednesday to be included in a dialogue between companies and the government to address the exploding coronavirus crisis in the world´s top producer of the red metal. The Chilean Mines Federation - which groups the workers at Chile's principal copper deposits - has softened its tone since demanding on Sunday that authorities strengthen enforcement of safety rules following an "alarming" increase in coronavirus cases among miners.
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Chile is home to international mining giants BHP Group Ltd BHP.AX, Anglo American Plc AAL.L, Glencore Plc GLEN.L, Antofagasta Plc ANTO.L, Freeport McMoRan Inc FCX.N and state-run Codelco. By Fabian Cambero SANTIAGO, June 17 (Reuters) - Unionized copper mine workers in Chile asked on Wednesday to be included in a dialogue between companies and the government to address the exploding coronavirus crisis in the world´s top producer of the red metal. The Chilean Mines Federation - which groups the workers at Chile's principal copper deposits - has softened its tone since demanding on Sunday that authorities strengthen enforcement of safety rules following an "alarming" increase in coronavirus cases among miners.
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Chile is home to international mining giants BHP Group Ltd BHP.AX, Anglo American Plc AAL.L, Glencore Plc GLEN.L, Antofagasta Plc ANTO.L, Freeport McMoRan Inc FCX.N and state-run Codelco. By Fabian Cambero SANTIAGO, June 17 (Reuters) - Unionized copper mine workers in Chile asked on Wednesday to be included in a dialogue between companies and the government to address the exploding coronavirus crisis in the world´s top producer of the red metal. The Chilean Mines Federation - which groups the workers at Chile's principal copper deposits - has softened its tone since demanding on Sunday that authorities strengthen enforcement of safety rules following an "alarming" increase in coronavirus cases among miners.
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Chile is home to international mining giants BHP Group Ltd BHP.AX, Anglo American Plc AAL.L, Glencore Plc GLEN.L, Antofagasta Plc ANTO.L, Freeport McMoRan Inc FCX.N and state-run Codelco. "We want to request, as the largest mining organization in Chile, a three-way dialogue ... to prevent even more mine workers from becoming infected," the group said in a statement. South America has in recent weeks become the epicenter of the global outbreak.
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0ec50e47-b6c1-40cc-a6ce-20ddab33ca2a
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5673.0
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2020-06-17 00:00:00 UTC
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3 Things American Airlines Stock Bulls Need to Happen Soon
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AAL
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https://www.nasdaq.com/articles/3-things-american-airlines-stock-bulls-need-to-happen-soon-2020-06-17
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nan
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nan
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The coronavirus pandemic has had a huge impact on the entire global economy, and the airline sector in particular has suffered from travel restrictions and efforts to slow the spread of contagion. American Airlines Group (NASDAQ: AAL) lost more than 70% of its value between mid-February and mid-May as air travel slowed to a near-standstill. From there, though, American Airlines stock more than doubled as hopes emerged for a potential recovery.
The airline industry has been risky for investors throughout its history, with numerous bankruptcies over the years. Less than a decade ago, American itself was in bankruptcy proceedings, but shareholders are hopeful that it can avoid the same fate this time around. For American to mount a true rebound, it needs to work toward making three favorable things happen.
Image source: American Airlines.
1. Travel trends need to keep improving domestically
The key for airlines like American to recover fully is for passengers to feel comfortable taking to the skies again. We've already seen a huge bounce in the number travelers at U.S. airports, with the Transportation Security Administration reporting that more than 500,000 people have moved through checkpoints on four of the past five days as of June 15. That's up from fewer than 100,000 travelers as recently as April 22.
To be clear, there's still a long way to go. Roughly 2.7 million travelers went through security checkpoints this time last year, meaning that current levels are still just 20% of where they were in 2019. However, American is seeing signs that more passengers are willing to consider flying again, and that's a trend that definitely needs to continue.
2. International travel needs to open up
American does a significant amount of business flying internationally, and there, the story is a lot uglier. Travel restrictions remain in place throughout much of the world, with countries only now starting to look at reopening their borders. The European Union has now allowed travel among many of its member countries, with part of the intent to attract international tourists.
Unfortunately, the U.S. hasn't done a good enough job of containing the COVID-19 outbreak to inspire confidence among other nations, and it could be a long time before U.S. tourists are welcome in other parts of the world. The longer it takes for free travel to return, the harder it will be for American to restore that portion of its service. Although domestic travel is arguably more important, American does need international travel to recover if it wants to return to its pre-coronavirus success.
3. American has to keep slashing costs as it finds a viable operational model
American has thus far done a good job of trying to reduce its expenses as much as it can. The amount of negative cash flow has fallen from roughly $100 million per day in early April to just $40 million per day in June, and the company has a goal of being cash-flow neutral by the end of 2020.
That's essential to American's survival, because between tapping government assistance and turning to public markets, the airline has already gotten all of the easy capital it's going to get. Only by finding new ways to cut costs can American preserve the reserves it's managed to build, and its remaining cash could prove to be what makes or breaks the airline's chances to survive.
Setting up for the long run
Eventually, American has to answer questions like what air travel will look like in a post-coronavirus world, as safety concerns for it and other airlines to reconsider their past practices of packing in as many passengers as possible. Those are questions for later, though, and right now, American shareholders need more concrete signs that air travel isn't destined to disappear in order to justify the big bounce the airline stock has already seen.
10 stocks we like better than American Airlines Group
When investing geniuses David and Tom Gardner have 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.*
David and Tom 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 June 2, 2020
Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group (NASDAQ: AAL) lost more than 70% of its value between mid-February and mid-May as air travel slowed to a near-standstill. The coronavirus pandemic has had a huge impact on the entire global economy, and the airline sector in particular has suffered from travel restrictions and efforts to slow the spread of contagion. Only by finding new ways to cut costs can American preserve the reserves it's managed to build, and its remaining cash could prove to be what makes or breaks the airline's chances to survive.
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American Airlines Group (NASDAQ: AAL) lost more than 70% of its value between mid-February and mid-May as air travel slowed to a near-standstill. Roughly 2.7 million travelers went through security checkpoints this time last year, meaning that current levels are still just 20% of where they were in 2019. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
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American Airlines Group (NASDAQ: AAL) lost more than 70% of its value between mid-February and mid-May as air travel slowed to a near-standstill. Setting up for the long run Eventually, American has to answer questions like what air travel will look like in a post-coronavirus world, as safety concerns for it and other airlines to reconsider their past practices of packing in as many passengers as possible. Those are questions for later, though, and right now, American shareholders need more concrete signs that air travel isn't destined to disappear in order to justify the big bounce the airline stock has already seen.
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American Airlines Group (NASDAQ: AAL) lost more than 70% of its value between mid-February and mid-May as air travel slowed to a near-standstill. Unfortunately, the U.S. hasn't done a good enough job of containing the COVID-19 outbreak to inspire confidence among other nations, and it could be a long time before U.S. tourists are welcome in other parts of the world. The amount of negative cash flow has fallen from roughly $100 million per day in early April to just $40 million per day in June, and the company has a goal of being cash-flow neutral by the end of 2020.
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5674.0
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2020-06-17 00:00:00 UTC
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Southwest Airlines says has enough cash for two years as demand improves
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AAL
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https://www.nasdaq.com/articles/southwest-airlines-says-has-enough-cash-for-two-years-as-demand-improves-2020-06-17-0
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Adds details cash spending, share movement
June 17 (Reuters) - Southwest Airlines LUV.N said on Wednesday it has enough cash to carry on business for the next two years, up from its prior forecast of 20 months, as travel demand gradually picks up.
The company's assessment is based on current cash and short-term investments of $13.9 billion and an expected average daily cash burn of about $20 million in June.
"The company has continued to experience a modest improvement in passenger demand and bookings in June 2020—primarily leisure-driven demand," Southwest said.
In the second quarter, Southwest said it expects average daily core cash spending of between $30 million and $35 million. The airline had earlier forecast a capacity decline of up to 60% from a year ago.
Last week, American Airlines AAL.O said it expects to halt its daily cash burn by the end of 2020, thanks to cost-cutting measures and an improvement in travel demand.
Southwest shares were trading marginally higher at $36.67 before the bell.
(Reporting by Sanjana Shivdas in Bengaluru; Editing by Arun Koyyur)
((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.
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Last week, American Airlines AAL.O said it expects to halt its daily cash burn by the end of 2020, thanks to cost-cutting measures and an improvement in travel demand. Adds details cash spending, share movement June 17 (Reuters) - Southwest Airlines LUV.N said on Wednesday it has enough cash to carry on business for the next two years, up from its prior forecast of 20 months, as travel demand gradually picks up. (Reporting by Sanjana Shivdas in Bengaluru; Editing by Arun Koyyur) ((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.
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Last week, American Airlines AAL.O said it expects to halt its daily cash burn by the end of 2020, thanks to cost-cutting measures and an improvement in travel demand. Adds details cash spending, share movement June 17 (Reuters) - Southwest Airlines LUV.N said on Wednesday it has enough cash to carry on business for the next two years, up from its prior forecast of 20 months, as travel demand gradually picks up. The company's assessment is based on current cash and short-term investments of $13.9 billion and an expected average daily cash burn of about $20 million in June.
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Last week, American Airlines AAL.O said it expects to halt its daily cash burn by the end of 2020, thanks to cost-cutting measures and an improvement in travel demand. Adds details cash spending, share movement June 17 (Reuters) - Southwest Airlines LUV.N said on Wednesday it has enough cash to carry on business for the next two years, up from its prior forecast of 20 months, as travel demand gradually picks up. The company's assessment is based on current cash and short-term investments of $13.9 billion and an expected average daily cash burn of about $20 million in June.
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Last week, American Airlines AAL.O said it expects to halt its daily cash burn by the end of 2020, thanks to cost-cutting measures and an improvement in travel demand. Adds details cash spending, share movement June 17 (Reuters) - Southwest Airlines LUV.N said on Wednesday it has enough cash to carry on business for the next two years, up from its prior forecast of 20 months, as travel demand gradually picks up. The company's assessment is based on current cash and short-term investments of $13.9 billion and an expected average daily cash burn of about $20 million in June.
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0bdde2dd-afd6-4419-b7b7-7ec38d40c970
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5675.0
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2020-06-17 00:00:00 UTC
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With the Worst of the Coronavirus Over, Buy American Airlines Stock
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AAL
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https://www.nasdaq.com/articles/with-the-worst-of-the-coronavirus-over-buy-american-airlines-stock-2020-06-17
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
American Airlines (NYSE:AAL) stock has been on a wild ride over the past few months, as the novel coronavirus pandemic – formally dubbed Covid-19 – has sent unprecedented shock-waves across the global air travel industry.
Source: GagliardiPhotography / Shutterstock.com
AAL stock came into 2020 around $30. By mid-May, the stock was trading below $10. Then, in the back-half of May and first week of June, AAL stock stormed back above $20 as America’s economic reopening efforts gained momentum, consumer behavior normalized and U.S. air traffic trends meaningfully improved.
Since then, American Airlines stock has given back some of those gains as a “second wave” of Covid-19 emerged across various states.
Don’t be afraid of this second wave. It won’t kill the U.S. economic recovery. It won’t kill the rebound in air travel. And it won’t kill AAL stock.
15 Red-Hot Online Retail Stocks Soaring High in 2020
To that end, my two cents on AAL stock is simple: buy the dip on second wave Covid-19 fears.
Here’s a deeper look at why.
The Rebound is Here to Stay
Over the past few months, the U.S. economic recovery gained traction, and this rebound is here to stay.
Why? Because we’ve learned a lot about Covid-19 since March. The more we’ve learned, the more we’ve discovered that the fatality rate of Covid-19 isn’t all that high, and actually not too far off from the seasonal flu’s death rate.
As the science has shifted from, “it’s Black Death” to “it’s like the flu on steroids,” consumer behavior shifted, too. Instead of people saying, “we should stay inside at all costs,” they’re now saying, “we can live our regular lives with certain restrictions to appropriately manage risks.”.
Consequently, the emergence of a second wave won’t kill the U.S. economic recovery. It won’t force politicians to close everything down. It won’t scare consumers back into their homes. Instead, it will simply slow the recovery, via one-off store closures and injecting caution into consumers.
The big improvements we’ve seen in economic activity since March are here to stay.
That includes the big improvement we’ve seen in air traffic. From its mid-April lows to today, TSA recorded total traveler throughput at airports has risen more than 500%. Sure, total traveler throughput is still down 79% year-over-year as of mid-June. But that’s up from 90%+ declines throughout April and May, and represents the first time that the year-over-year decline has been less than 80% since March 21.
Click to Enlarge
Source: TSA
This improvement will persist. According to a recent Overseas Leisure Group survey, about three-fourths of Americans are already planning their next vacation.
As such, a second wave won’t derail the airline industry’s recovery. Sure, it may slow the recovery to an extent. But, between now and the end of the year, air traffic trends will significantly improve.
As they do, AAL stock will fly higher.
American Airlines Stock is Cheap
By my numbers, American Airlines stock is simply too cheap if you believe that air traffic trends will mostly normalize by 2022.
My base case model on AAL stock assumes a few things:
Traffic and revenue get killed in 2020 before rebounding strongly in 2021 and almost fully normalizing by 2022, with some loss of business and personal travel. I’m modeling for 2022 revenues of $40 billion, versus 2019 revenues of $46 billion.
Profit margins get killed, too, in 2020. They rebound slightly in 2021 and 2022 but remain below 2019 levels due to extra costs associated with more cleaning. Pre-tax profit margins hit 5% by 2022, versus 6%+ in 2019.
American Airlines’ buyback program essentially grinds to a halt, and the company’s share count in 2022 is roughly equivalent to its current share count.
Under those assumptions, I see American Airlines netting about $3.50 in earnings per share by 2022. Based on a historically average forward earnings multiple of 7, that equates to a 2021 price target for AAL stock of nearly $25.
The stock trades hands around $17 today.
The Bottom Line on AAL Stock
If you believe that air traffic trends will normalize within the next few years, then buy the dip in AAL stock. If not, stay away.
It’s really that simple. Because, if traffic trends do normalize, then the stock is way undervalued. If they don’t, then the stock isn’t way undervalued.
I think the weight of evidence suggests that consumers are ready to get back to normal, and that Covid-19 won’t stop them from doing that. As such, I see air travel rebounding to quasi-normal levels by 2022, and AAL stock powering to $25 by 2021.
Luke Lango is a Markets Analyst for InvestorPlace. He has been professionally analyzing stocks for several years, previously working at various hedge funds and currently running his own investment fund in San Diego. A Caltech graduate, Luke has consistently been rated one of the world’s top stock pickers by various other analysts and platforms, and has developed a reputation for leveraging his technology background to identify growth stocks that deliver outstanding returns. Luke is also the founder of Fantastic, a social discovery company backed by an LA-based internet venture firm. As of this writing, he was long AAL.
The post With the Worst of the Coronavirus Over, Buy American Airlines Stock appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Then, in the back-half of May and first week of June, AAL stock stormed back above $20 as America’s economic reopening efforts gained momentum, consumer behavior normalized and U.S. air traffic trends meaningfully improved. My base case model on AAL stock assumes a few things: Traffic and revenue get killed in 2020 before rebounding strongly in 2021 and almost fully normalizing by 2022, with some loss of business and personal travel. Based on a historically average forward earnings multiple of 7, that equates to a 2021 price target for AAL stock of nearly $25.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips American Airlines (NYSE:AAL) stock has been on a wild ride over the past few months, as the novel coronavirus pandemic – formally dubbed Covid-19 – has sent unprecedented shock-waves across the global air travel industry. Then, in the back-half of May and first week of June, AAL stock stormed back above $20 as America’s economic reopening efforts gained momentum, consumer behavior normalized and U.S. air traffic trends meaningfully improved. Source: GagliardiPhotography / Shutterstock.com AAL stock came into 2020 around $30.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips American Airlines (NYSE:AAL) stock has been on a wild ride over the past few months, as the novel coronavirus pandemic – formally dubbed Covid-19 – has sent unprecedented shock-waves across the global air travel industry. The Bottom Line on AAL Stock If you believe that air traffic trends will normalize within the next few years, then buy the dip in AAL stock. Source: GagliardiPhotography / Shutterstock.com AAL stock came into 2020 around $30.
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And it won’t kill AAL stock. The Bottom Line on AAL Stock If you believe that air traffic trends will normalize within the next few years, then buy the dip in AAL stock. InvestorPlace - Stock Market News, Stock Advice & Trading Tips American Airlines (NYSE:AAL) stock has been on a wild ride over the past few months, as the novel coronavirus pandemic – formally dubbed Covid-19 – has sent unprecedented shock-waves across the global air travel industry.
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2020-06-17 00:00:00 UTC
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As the Airline Sector Rebound Cools, Hold off on Southwest Stock
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AAL
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https://www.nasdaq.com/articles/as-the-airline-sector-rebound-cools-hold-off-on-southwest-stock-2020-06-17
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
In my last write-up on Southwest Airlines (NYSE:LUV) stock, I discussed how shares may have gone up too much, too soon. And, with shares cooling from their recent epic rally, Wall Street seems to agree. Earlier this month, breadcrumbs of positive news sent hard-hit airline stocks significantly higher.
Source: Carlos E. Santa Maria / Shutterstock.com
But, the sector may not be out of the woods just yet when it comes to the novel coronavirus.
Fears of a “second wave” have started to make headlines. Besides this being a sign that the global health crisis is far from over, it also means an airline recovery may not be as swift as speculators have anticipated as of late.
Firstly, passenger travel may still continue to be depressed. Secondly, we may be seeing a “new normal” regarding business travel. Instead of in-person meetings and conferences, things may shift more towards virtual platforms like Zoom (NASDAQ:ZM).
15 Red-Hot Online Retail Stocks Soaring High in 2020
In short, quite a bit of short-term and long-term headwinds for the industry. What does that mean for LUV stock? The low-cost carrier has many advantages over its legacy rivals like American Airlines (NASDAQ:AAL), Delta Airlines (NYSE:DAL), and United Airlines (NASDAQ:UAL).
Even so, that doesn’t mean shares are going to retrace past highs anytime soon. It also means the company may have less downside risk compared to other major names. With this in mind, shares may not be a buy today, but if shares continue to pull back, or retest prior lows, they could a strong opportunity.
LUV Stock Is a More Solid Recovery Play
I continue to believe things are up in the air for the airline sector as-a-whole, but that doesn’t mean all airline stocks should be avoided. The pandemic and its economic impact may push debt-saddled legacy carriers towards Chapter 11. Yet, shares in low-cost carriers like LUV stock stand a greater chance of riding today’s troubles out, eventually retracing past highs.
How so? For one, as InvestorPlace’s Dana Blakenhorn put it Jun 10, Southwest entered the pandemic the “strongest of the airlines.” Today’s challenges may strengthen its edge against its rivals; that includes increasing flights as rivals downsize their operations. Also, they could win out in a fare war the company itself started, further fueling growth during a recovery.
The Wall Street analyst community agrees with this positive outlook. Credit Suisses’ Jose Caiado recently upgraded shares. His rationale? Raising his price target from $35 per share to $45 per share, the analyst cites Southwest isn’t just “a good way to invest in the near-term recovery in leisure travel demand.” But also, he believes the airline’s “best-in-class” balance sheet positions them well to stage an “aggressive comeback.”
Sounds like the perfect recipe for a turnaround play, right? Well, yes and no. These strong fundamentals bolster the bull case for LUV stock. Yet, with shares still much higher than where they were a few weeks back, today’s share price may not reflect the still-existing risks behind this stock.
Still, Near-Term Headwinds Remain
Many signs point to Southwest stock as the best way to bet on an airline comeback, but investors should consider the risks at hand before entering a position. A full airline sector recovery may still be years away.
As I discussed in a recent article on Delta stock, it may take up to five years before we see a “return to normal” scenario. As I mentioned above, we still need to see how quickly leisure travelers return to the skies. More importantly, whether business travel isn’t permanently affected by the pandemic.
We probably won’t see an “end to business travel,” but, as video conferencing has become a viable substitute for live meetings and conferences, expect a pivot to Zoom and other platforms to accelerate.
Weighing these risks against potential upside in the LUV stock price, it may be too soon to enter a position today. Shares have dipped a bit since nearly doubling off their lows earlier this month. Yet, it may pay to wait for shares to dip below the $30 price level before considering shares a worthwhile buy.
Wait for the Dip Lower Before Buying Southwest Stock
The airline sector’s near-term prospects remain cloudy. Yet, this low-cost carrier has greater odds of survival than its legacy peers. However, as speculation fueled an epic rally in airline stocks earlier this month, Southwest stock went up too fast, too soon.
As investors reassess the near and long-term forecast, shares could slowly move down to a more compelling entry point. In other words, shares aren’t not a buy at today’s prices (between $30 and $35 per share).
But, at lower prices ($20 to $25 per share), LUV stock is a worthwhile bet on an air travel comeback.
Thomas Niel, contributor to InvestorPlace, has written single-stock analysis since 2016. As of this writing, Thomas Niel did not hold a position in any of the aforementioned securities.
The post As the Airline Sector Rebound Cools, Hold off on Southwest Stock appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The low-cost carrier has many advantages over its legacy rivals like American Airlines (NASDAQ:AAL), Delta Airlines (NYSE:DAL), and United Airlines (NASDAQ:UAL). Yet, shares in low-cost carriers like LUV stock stand a greater chance of riding today’s troubles out, eventually retracing past highs. Still, Near-Term Headwinds Remain Many signs point to Southwest stock as the best way to bet on an airline comeback, but investors should consider the risks at hand before entering a position.
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The low-cost carrier has many advantages over its legacy rivals like American Airlines (NASDAQ:AAL), Delta Airlines (NYSE:DAL), and United Airlines (NASDAQ:UAL). Wait for the Dip Lower Before Buying Southwest Stock The airline sector’s near-term prospects remain cloudy. However, as speculation fueled an epic rally in airline stocks earlier this month, Southwest stock went up too fast, too soon.
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The low-cost carrier has many advantages over its legacy rivals like American Airlines (NASDAQ:AAL), Delta Airlines (NYSE:DAL), and United Airlines (NASDAQ:UAL). InvestorPlace - Stock Market News, Stock Advice & Trading Tips In my last write-up on Southwest Airlines (NYSE:LUV) stock, I discussed how shares may have gone up too much, too soon. LUV Stock Is a More Solid Recovery Play I continue to believe things are up in the air for the airline sector as-a-whole, but that doesn’t mean all airline stocks should be avoided.
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The low-cost carrier has many advantages over its legacy rivals like American Airlines (NASDAQ:AAL), Delta Airlines (NYSE:DAL), and United Airlines (NASDAQ:UAL). And, with shares cooling from their recent epic rally, Wall Street seems to agree. LUV Stock Is a More Solid Recovery Play I continue to believe things are up in the air for the airline sector as-a-whole, but that doesn’t mean all airline stocks should be avoided.
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352189f9-e475-4688-a72b-a51a504007e6
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5677.0
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2020-06-16 00:00:00 UTC
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American Airlines’ Earnings Power Will Propel AAL Shares Higher
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AAL
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https://www.nasdaq.com/articles/american-airlines-earnings-power-will-propel-aal-shares-higher-2020-06-16
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Two weeks ago I wrote an article on American Airlines (NASDAQ:AAL) where I changed my mind and recommended AAL stock. The stock rose from $11.22 on June 2 to $16.74 on Friday, June 12. That is a gain of over 49% in less than two weeks.
Source: GagliardiPhotography / Shutterstock.com
I felt at the time that AAL stock was likely to rebound and was undervalued. AAL stock will continue to rise since it will be worth much more in less than two years. I will try to put a target value on the stock in this article.
It also doesn’t hurt that on June 12, the company came out with an 8-K SEC filing showing it has been making significant progress. Some of the information has gone further than other airlines have revealed about their operations.
American Shows it Has Turned the Corner
For example, American Airlines presented a table showing that its traffic numbers had increased to 129,000 per day by mid-June. This is up from 31,000 per day in April. No other airline is providing this information.
Moreover, American said its load factor is now up to 62% by June 8. The company is also planning to fly 55% of its total U.S. schedule in July compared to last year.
7 of the Best Bank Stocks to Cash In On
Another good sign of improving demand is that as of mid-May its travel bookings had turned net positive after taking into account cancellations. In addition, the company’s cash burn rate has fallen to $40 million per day in June. The company expects it to reach break even by the end of 2020.
It looks like it can afford this. For example, assuming $20 million per day over the next six months would cost $3.6 billion to $4 billion overall. Even if the average rate was $30 million per day over six months, it would cost $5.5 billion. But American Airlines says it has three ways to cover that.
First, its cash liquidity will be $6.25 billion by June 30. Second, it expects to receive a government CARES Act loan of $4.75 billion, for a total of $11 billion by the end of Q2. Third, American Airlines showed in the statement that it has over $11.1 billion in unencumbered assets that become collateral for additional loans.
In other words, the company does not seem to be in danger of going bankrupt.
What Is AAL Stock Worth?
Analysts polled by Seeking Alpha expected American Airlines to generate $33.4 billion in revenue by the end of 2021. This is down a good bit from the company’s $42.8 billion revenue in 2019.
Moreover, those analysts don’t expect positive earnings even in 2021. The problem with these projections is that once a novel coronavirus vaccine becomes widely available, the pickup in demand for airline travel could accelerate. In fact, that may occur even when the possibility of a definite vaccine is apparent.
So, even though it’s possible that the company might not get profitable until the end of 2022, I suspect that things will change much quicker than that.
I suspect that AAL will be able to get to at least 50% to 70% of its prior 2019 earnings on a run-rate basis by the end of 2021. The company made $1.686 billion in 2019. So its earnings power is probably between $843 million and $1.18 billion on a run-rate basis by 2021 year-end.
Since American Airlines has 422.9 million shares outstanding its earnings power is $2 and $2.79 per share. So using a below-market multiple of 12 times earnings, the target price is between $24 and $33.48 per share.
That means the potential upside for AAL stock over the next year is 43% to 100%.
What to Do With AAL Stock
The most important thing to remember is that this stock is going to have a high variance. Look for a wild ride. The valuation is highly dependent on the probabilities of a Covid-19 vaccine accelerating the demand for travel.
So the upside is clear. I have built-in a margin of safety in my estimate. But keep in mind that the company will have higher interest costs, higher maintenance expenses, and more volatile demand and capacity factors to deal with.
Nevertheless, at least with the latest information from the company, we can begin to estimate its earnings power going forward. I suspect AAL stock is therefore worth at least 50% more than today’s price over the next year.
Mark Hake runs the Total Yield Value Guide which you can review here. The Guide focuses on high total yield value stocks. Subscribers receive a two-week free trial. As of this writing, he holds a position in American Airlines (AAL).
The post American Airlines’ Earnings Power Will Propel AAL Shares Higher appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The post American Airlines’ Earnings Power Will Propel AAL Shares Higher appeared first on InvestorPlace. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Two weeks ago I wrote an article on American Airlines (NASDAQ:AAL) where I changed my mind and recommended AAL stock. Source: GagliardiPhotography / Shutterstock.com I felt at the time that AAL stock was likely to rebound and was undervalued.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Two weeks ago I wrote an article on American Airlines (NASDAQ:AAL) where I changed my mind and recommended AAL stock. The post American Airlines’ Earnings Power Will Propel AAL Shares Higher appeared first on InvestorPlace. Source: GagliardiPhotography / Shutterstock.com I felt at the time that AAL stock was likely to rebound and was undervalued.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Two weeks ago I wrote an article on American Airlines (NASDAQ:AAL) where I changed my mind and recommended AAL stock. The post American Airlines’ Earnings Power Will Propel AAL Shares Higher appeared first on InvestorPlace. Source: GagliardiPhotography / Shutterstock.com I felt at the time that AAL stock was likely to rebound and was undervalued.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Two weeks ago I wrote an article on American Airlines (NASDAQ:AAL) where I changed my mind and recommended AAL stock. Source: GagliardiPhotography / Shutterstock.com I felt at the time that AAL stock was likely to rebound and was undervalued. AAL stock will continue to rise since it will be worth much more in less than two years.
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2020-06-16 00:00:00 UTC
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United Gets Tough on Passengers Who Don't Wear Face Masks
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AAL
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https://www.nasdaq.com/articles/united-gets-tough-on-passengers-who-dont-wear-face-masks-2020-06-16
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United Airlines Holdings (NASDAQ: UAL) said Tuesday it would ban passengers who refuse to wear face masks on flights, part of a broader effort by major airlines to crack down on travelers not taking safety measures to minimize the spread of COVID-19.
Beginning on June 18, United passengers who refuse to wear masks will be placed on an internal restricted list "for a duration of time to be determined pending a comprehensive incident review." The only exceptions to the policy are individuals with medical conditions that prevent them from wearing a mask, those who can't put on or remove a mask themselves, and small children.
Image source: United Airlines.
"Every reputable heath institution says wearing a mask is one of the most effective things people can do to protect others from contracting COVID-19, especially in places like an aircraft where social distancing is a challenge," United chief customer officer Toby Enqvist said in a statement. "Today's announcement is an unmistakable signal that we're prepared to take serious steps, if necessary, to protect our customers and crew."
The announcement comes as Airlines for America, a trade group that represents United, Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), Southwest Airlines (NYSE: LUV), and three other carriers, said its members will be "vigorously enforcing" face covering policies.
The move is both designed to protect passengers and employees, and to reassure potential travelers. Airlines saw travel demand fall by as much as 90% in March as the pandemic spread, and even as they rebuild their schedules for July the carriers are still scheduling less than half the flights they flew one year ago.
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Lou Whiteman owns shares of Delta Air Lines. The Motley Fool recommends Delta Air Lines and Southwest Airlines. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The announcement comes as Airlines for America, a trade group that represents United, Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), Southwest Airlines (NYSE: LUV), and three other carriers, said its members will be "vigorously enforcing" face covering policies. Beginning on June 18, United passengers who refuse to wear masks will be placed on an internal restricted list "for a duration of time to be determined pending a comprehensive incident review." "Every reputable heath institution says wearing a mask is one of the most effective things people can do to protect others from contracting COVID-19, especially in places like an aircraft where social distancing is a challenge," United chief customer officer Toby Enqvist said in a statement.
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The announcement comes as Airlines for America, a trade group that represents United, Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), Southwest Airlines (NYSE: LUV), and three other carriers, said its members will be "vigorously enforcing" face covering policies. Beginning on June 18, United passengers who refuse to wear masks will be placed on an internal restricted list "for a duration of time to be determined pending a comprehensive incident review." The Motley Fool recommends Delta Air Lines and Southwest Airlines.
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The announcement comes as Airlines for America, a trade group that represents United, Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), Southwest Airlines (NYSE: LUV), and three other carriers, said its members will be "vigorously enforcing" face covering policies. United Airlines Holdings (NASDAQ: UAL) said Tuesday it would ban passengers who refuse to wear face masks on flights, part of a broader effort by major airlines to crack down on travelers not taking safety measures to minimize the spread of COVID-19. 10 stocks we like better than United Airlines Holdings When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen.
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The announcement comes as Airlines for America, a trade group that represents United, Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), Southwest Airlines (NYSE: LUV), and three other carriers, said its members will be "vigorously enforcing" face covering policies. United Airlines Holdings (NASDAQ: UAL) said Tuesday it would ban passengers who refuse to wear face masks on flights, part of a broader effort by major airlines to crack down on travelers not taking safety measures to minimize the spread of COVID-19. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Lou Whiteman owns shares of Delta Air Lines.
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5679.0
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2020-06-16 00:00:00 UTC
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3 Airline Stocks That Will Profit From Europe’s Reopening
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AAL
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https://www.nasdaq.com/articles/3-airline-stocks-that-will-profit-from-europes-reopening-2020-06-16
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Airline stocks have benefitted from new flight schedules — further evidence that the U.S. is on the road to a post-pandemic recovery. The sector has enjoyed a roughly 12% bump as investors cheered every sign of demand rebound.
Now that American Airlines (NASDAQ:AAL) has revealed plans to grow its summer schedule, the optimism regarding a return to travel has more or less been priced in. With most estimates still pegging the return to 2019 traffic levels at 2023 at the earliest, investors should remain cautious on the sector.
Sanjiv Sabherwal, Goolsby-Fouse Endowed Chair, distinguished teaching professor and chair of the department of economics and real estate at the University of Texas at Arlington, wrote in an email to InvestorPlace that, “Hospitality, transportation, and retail are three of the hardest-hit sectors of the economy. Consequently, we are seeing many hotels, restaurants, airlines, and retailers cut dividends. This trend is likely to continue in the near future.”
With that said, there’s still room to ride the recovery in airline stocks. You just have to be willing to gamble on international travel. Domestic travel is likely to be the first to return as the public gingerly tests the boundaries of a lockdown-free lifestyle. International travel will probably take more time — not only because the public has to consent to it, but also because of border regulations which will take time to soften as lawmakers try to avoid a second novel coronavirus wave.
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Travel in Europe is one place to start. Why? Flights within the continent can easily be compared to domestic U.S. flights. Here’s a look at three carriers that will benefit tremendously from Europe reopening.
Ryanair Holdings (NASDAQ:RYAAY)
Wizz Air (OTCMKTS:WZZAF)
Delta Air Lines (NYSE:DAL)
Airline Stocks: Ryanair Holdings (RYAAY)
Source: Dmitry Birin/Shutterstock.com
If there’s one company that will deliver to its investors in a time of crisis, it’s low-cost Irish airline Ryanair. CEO Michael O’Leary has become famous for angering everyone from his crew to his passengers in the name of shareholders. The pandemic is no different.
But love him or hate him, investors have to commend O’Leary for the fact that he runs a tight ship. Ryanair is arguably one of the best European airlines because of its ultra-low debt and focus on profit.
RYAAY stock has already staged an impressive recovery in the wake of the coronavirus, but the firm has a lot more to gain once Europe reopens. As more countries start to lift travel restrictions, Ryanair will be able to open up more of its flights.
The firm should feel a particular benefit if the United Kingdom agrees to relax its traveler quarantine restrictions.
Wizz Air (WZZAF)
Source: Konwicki Marcin / Shutterstock.com
Like Ryanair, Wizz Air is a low-cost European carrier whose tightly run operations were solid going into the coronavirus crisis. The firm has a unique position serving Central and Eastern Europe and will benefit from the return to travel around the continent. Wizz has already restarted some of its flights. However, the United Kingdom’s harsh traveler quarantine rules will weigh on its return to a normal schedule.
The firm has said it plans to aggressively discount fares in order to stimulate demand, which will weigh on Wizz Air’s profits through 2021. However, it seems pent-up demand in Eastern Europe puts Wizz in a strong position to recover ahead of some of its peers.
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The firm said that its flights in Bulgaria had ramped up to roughly 50% of capacity. Planes in general were around 70% full. The company is planning to operate 70% of its July and August schedule, a move that could prove profitable if the pent-up demand persists.
Delta Air Lines (DAL)
Source: NextNewMedia / Shutterstock.com
European carriers aren’t the only ones that will benefit from Europe’s reopening. Airlines in the U.S. also stand to gain. Soon, they will be able to reopen some of their most profitable business routes. Delta is one such beneficiary whose future growth strategy — at least up until the pandemic — leaned heavily on travel to Europe.
Delta had been revamping some of its planes in order to increase revenue on long-haul flights to Europe. The company’s “Premium Select” seats offered an option in-between coach and business class. These seats give travelers more comfort for a fraction of the price of a business class seat. According to CEO Ed Bastian, demand for those seats was increasing steadily.
Now, Delta is in a prime position to sell Premium Select seats as travel to Europe returns. Businesses looking to cut costs as well as recreational travelers who don’t want to be packed into a coach cabin amid virus concerns are likely to appreciate the modest price increase for a Premium Select seat.
Laura Hoy has a Finance degree from Duquesne University and has been writing about financial markets for the past 8 years. Her work can be seen in a variety of publications including InvestorPlace, Benzinga, Yahoo Finance and CCN. As of this writing, Laura Hoy did not hold a position in any of the aforementioned securities.
The post 3 Airline Stocks That Will Profit From Europe’s Reopening appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Now that American Airlines (NASDAQ:AAL) has revealed plans to grow its summer schedule, the optimism regarding a return to travel has more or less been priced in. RYAAY stock has already staged an impressive recovery in the wake of the coronavirus, but the firm has a lot more to gain once Europe reopens. Businesses looking to cut costs as well as recreational travelers who don’t want to be packed into a coach cabin amid virus concerns are likely to appreciate the modest price increase for a Premium Select seat.
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Now that American Airlines (NASDAQ:AAL) has revealed plans to grow its summer schedule, the optimism regarding a return to travel has more or less been priced in. Ryanair Holdings (NASDAQ:RYAAY) Wizz Air (OTCMKTS:WZZAF) Delta Air Lines (NYSE:DAL) Airline Stocks: Ryanair Holdings (RYAAY) Source: Dmitry Birin/Shutterstock.com If there’s one company that will deliver to its investors in a time of crisis, it’s low-cost Irish airline Ryanair. Wizz Air (WZZAF) Source: Konwicki Marcin / Shutterstock.com Like Ryanair, Wizz Air is a low-cost European carrier whose tightly run operations were solid going into the coronavirus crisis.
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Now that American Airlines (NASDAQ:AAL) has revealed plans to grow its summer schedule, the optimism regarding a return to travel has more or less been priced in. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Airline stocks have benefitted from new flight schedules — further evidence that the U.S. is on the road to a post-pandemic recovery. Ryanair Holdings (NASDAQ:RYAAY) Wizz Air (OTCMKTS:WZZAF) Delta Air Lines (NYSE:DAL) Airline Stocks: Ryanair Holdings (RYAAY) Source: Dmitry Birin/Shutterstock.com If there’s one company that will deliver to its investors in a time of crisis, it’s low-cost Irish airline Ryanair.
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Now that American Airlines (NASDAQ:AAL) has revealed plans to grow its summer schedule, the optimism regarding a return to travel has more or less been priced in. RYAAY stock has already staged an impressive recovery in the wake of the coronavirus, but the firm has a lot more to gain once Europe reopens. Now, Delta is in a prime position to sell Premium Select seats as travel to Europe returns.
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5680.0
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2020-06-16 00:00:00 UTC
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Chile says copper miners complying with sanitary measures amid outbreak
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AAL
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https://www.nasdaq.com/articles/chile-says-copper-miners-complying-with-sanitary-measures-amid-outbreak-2020-06-16
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nan
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nan
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By Fabian Cambero
SANTIAGO, June 16 (Reuters) - A Chilean regulator on Tuesday dismissed the concerns voiced by union workers that mining companies were failing to enforce sanitary measures to combat the spread of the coronavirus, calling mine adherence to the restrictions "adequate."
Unions had urged the government to re-assess the operating plans of the country´s sprawling mines on Sunday, citing an "alarming" increase in infections among workers.
But Chile´s Geology and Mining Service (Sernageomin) told Reuters in an emailed statement it had carried out 4,299 inspections at various mining sites throughout the world´s top copper producer since the outbreak began in mid-March.
"We have verified on the ground an adequate implementation by the industry and its workers of ... the respective protocols," the agency said in the statement.
Chile, unlike neighboring Peru, has yet to require mines to limit operations, even as the number of cases nationwide has soared. South America has in recent weeks become the epicenter of the global outbreak, with Peru, Chile and Brazil especially hard hit.
Chile has seen an explosive increase in infections since May, averaging more than 5,000 new cases daily. The country has now logged 180,000 confirmed cases and more than 3,300 deaths due to Covid-19.
Most mining companies in the country´s vast northern desert have nonetheless maintained operational continuity. Chile said in May its copper industry ranked among the least affected globally by the pandemic, anticipating just a 1% reduction in output.
International giants like the state-owned Codelco, BHP BHP.AX, Anglo American AAL.L, Glencore GLEN.L, Antofagasta ANTO.L and Freeport McMoRan FCX.N operate in Chile.
None of the companies, nor the associations of the sector, have issued declarations on the indications of the unions.
(Reporting by Fabian Cambero; Writing by Dave Sherwood'; Editing by Steve Orlofsky)
((dave.sherwood@thomsonreuters.com; +56 9 9138 1047, +56 2 2370 4224; Reuters Messaging: dave.sherwood.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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International giants like the state-owned Codelco, BHP BHP.AX, Anglo American AAL.L, Glencore GLEN.L, Antofagasta ANTO.L and Freeport McMoRan FCX.N operate in Chile. Unions had urged the government to re-assess the operating plans of the country´s sprawling mines on Sunday, citing an "alarming" increase in infections among workers. Chile, unlike neighboring Peru, has yet to require mines to limit operations, even as the number of cases nationwide has soared.
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International giants like the state-owned Codelco, BHP BHP.AX, Anglo American AAL.L, Glencore GLEN.L, Antofagasta ANTO.L and Freeport McMoRan FCX.N operate in Chile. By Fabian Cambero SANTIAGO, June 16 (Reuters) - A Chilean regulator on Tuesday dismissed the concerns voiced by union workers that mining companies were failing to enforce sanitary measures to combat the spread of the coronavirus, calling mine adherence to the restrictions "adequate." South America has in recent weeks become the epicenter of the global outbreak, with Peru, Chile and Brazil especially hard hit.
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International giants like the state-owned Codelco, BHP BHP.AX, Anglo American AAL.L, Glencore GLEN.L, Antofagasta ANTO.L and Freeport McMoRan FCX.N operate in Chile. By Fabian Cambero SANTIAGO, June 16 (Reuters) - A Chilean regulator on Tuesday dismissed the concerns voiced by union workers that mining companies were failing to enforce sanitary measures to combat the spread of the coronavirus, calling mine adherence to the restrictions "adequate." But Chile´s Geology and Mining Service (Sernageomin) told Reuters in an emailed statement it had carried out 4,299 inspections at various mining sites throughout the world´s top copper producer since the outbreak began in mid-March.
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International giants like the state-owned Codelco, BHP BHP.AX, Anglo American AAL.L, Glencore GLEN.L, Antofagasta ANTO.L and Freeport McMoRan FCX.N operate in Chile. By Fabian Cambero SANTIAGO, June 16 (Reuters) - A Chilean regulator on Tuesday dismissed the concerns voiced by union workers that mining companies were failing to enforce sanitary measures to combat the spread of the coronavirus, calling mine adherence to the restrictions "adequate." Unions had urged the government to re-assess the operating plans of the country´s sprawling mines on Sunday, citing an "alarming" increase in infections among workers.
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b4335add-a46d-450d-b1be-6c2877890c32
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5681.0
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2020-06-16 00:00:00 UTC
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American Airlines’ Goal Doesn’t Mean There’s More Value to the Stock
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AAL
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https://www.nasdaq.com/articles/american-airlines-goal-doesnt-mean-theres-more-value-to-the-stock-2020-06-16
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
When investors erased the year-to-date losses in the S&P 500 index last week, buying airline stocks like American Airlines (NASDAQ:AAL) did not seem like a risk. But AAL stock lost 10% of its value last week as markets decided it needed to price in novel coronavirus risks again.
Source: GagliardiPhotography / Shutterstock.com
The most likely near-term outlook for flight passenger growth is mixed. American may expect demand will not get beyond 25% of last year’s levels.
Zero Cash Burn Target Lifted AAL Stock
American’s stock rallied sharply on June 12 when the company targeted a zero cash burn rate by the end of this year. The company said that it “seeks to reduce its cash burn rate to approximately zero by the end of 2020 as expected demand conditions continue to improve and its cost initiatives continue to gain traction.”
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American already cut its capacity by 75% in the second quarter. It forecast a disappointing 90% drop in revenue in the second quarter. But its liquidity will amount to around $11 billion as of June 30. That assumes it receives a secured CARES Act loan worth $4.75 billion.
High Near-Term Risks
Investors may have ignored the cash burn target date when they bid the stock higher. The zero cash burn rate is set for the end of this year. This implies that American will continue burning cash for the next six months. The airline did not detail any of its assumptions. For example, the recent trends of falling Covid-19 infections in the U.S. changed. Cases increased in many states in the last week and threatens to slow the economic re-opening.
In the filing, American posted the recent key data points. It wrote that “the table below summarizes recent domestic capacity, load factor, and customer data.”
Domestic April May June* July
Capacity
(Year over Year)
Down 70% Down 75% Down 70% Down 45%
Load Factor 15% 47% 62% —
Passengers per Day 31,000 85,000 129,000 —
* June load factor and passenger data MTD as of June 8
From SEC filing
The capacity did not change from April to the first eight days of June. In July, the company is forecasting a capacity improvement, down 45% compared to 70% in June. The passengers per day are growing steadily and suggest an acceleration in traffic throughout the summer.
Lower Costs
American will likely cut staff levels in September, further lowering its operating costs. Plus, the recent 8% weekly drop in oil prices may help lower expenses, too. This will not amount to much savings but would still help. As its capacity grows, the company will save more and get closer to operating at a break-even rate.
On Wall Street, analysts turned bearish on American Airlines. Eight of the 14 analysts rank the stock as a “sell.”
Analyst Brokerage Call Price Target Action
Savanthi Syth Raymond James Sell — Downgraded 8 days ago
Stephen Trent Citigroup Sell $9 Reiterated 8 days ago
Jose Caiado Credit Suisse Sell — Reiterated 8 days ago
Jamie Baker J.P. Morgan Sell — Reiterated 9 days ago
Data courtesy of Tipranks
Analysts are probably right this time: the bullish bet on American Airlines is too speculative. The company faces too many unknowns. Plus, the passenger traffic growth is not at a fast enough pace to offset the negative cash flow. With Covid-19 risks elevated again and tourism and business flight travel at low levels, this company will underperform.
Investors who want to model a more optimistic scenario may use a five-year discounted cash flow EBITDA exit model. This model allows you to forecast annual revenue growth. Use these metrics:
Metrics Range Conclusion
Discount Rate 8% – 7% 7.5%
Terminal EBITDA Multiple 6.5 – 8.5 7.5
Fair Value $3.29 – $31.87 $17.30
Upside -1.708 3.3%
Data courtesy of finbox.com
Investors may reasonably forecast a sharp drop in revenue this year. Revenue does not need to grow until the 2023 fiscal year. But unless revenue grows sharply after that, then the stock is already trading at close to its fair value.
Disclosure: As of this writing, the author did not hold a position in any of the aforementioned securities.
The post American Airlines’ Goal Doesn’t Mean There’s More Value to the Stock appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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But AAL stock lost 10% of its value last week as markets decided it needed to price in novel coronavirus risks again. InvestorPlace - Stock Market News, Stock Advice & Trading Tips When investors erased the year-to-date losses in the S&P 500 index last week, buying airline stocks like American Airlines (NASDAQ:AAL) did not seem like a risk. Zero Cash Burn Target Lifted AAL Stock American’s stock rallied sharply on June 12 when the company targeted a zero cash burn rate by the end of this year.
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Zero Cash Burn Target Lifted AAL Stock American’s stock rallied sharply on June 12 when the company targeted a zero cash burn rate by the end of this year. InvestorPlace - Stock Market News, Stock Advice & Trading Tips When investors erased the year-to-date losses in the S&P 500 index last week, buying airline stocks like American Airlines (NASDAQ:AAL) did not seem like a risk. But AAL stock lost 10% of its value last week as markets decided it needed to price in novel coronavirus risks again.
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Zero Cash Burn Target Lifted AAL Stock American’s stock rallied sharply on June 12 when the company targeted a zero cash burn rate by the end of this year. InvestorPlace - Stock Market News, Stock Advice & Trading Tips When investors erased the year-to-date losses in the S&P 500 index last week, buying airline stocks like American Airlines (NASDAQ:AAL) did not seem like a risk. But AAL stock lost 10% of its value last week as markets decided it needed to price in novel coronavirus risks again.
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Zero Cash Burn Target Lifted AAL Stock American’s stock rallied sharply on June 12 when the company targeted a zero cash burn rate by the end of this year. InvestorPlace - Stock Market News, Stock Advice & Trading Tips When investors erased the year-to-date losses in the S&P 500 index last week, buying airline stocks like American Airlines (NASDAQ:AAL) did not seem like a risk. But AAL stock lost 10% of its value last week as markets decided it needed to price in novel coronavirus risks again.
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9a50206c-2c7d-4535-a08e-cbbd785a58ba
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5682.0
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2020-06-16 00:00:00 UTC
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Southwest Airlines Is Looking Like a Turnaround Play as Travel Rebounds
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AAL
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https://www.nasdaq.com/articles/southwest-airlines-is-looking-like-a-turnaround-play-as-travel-rebounds-2020-06-16
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Southwest Airlines (NYSE:LUV) is slowly turning around, along with the other major airlines. I think the company has gone past an inflection point, and, as a result, LUV stock is now a winning turnaround play. But it may be worthwhile to wait a while. More on this later.
Source: Eliyahu Yosef Parypa / Shutterstock.com
For example, on May 26, the company provided a positive update on its bookings, revenue and load factors. It showed that Southwest is now finally reaching net positive bookings. Cancellations no longer outpace new bookings.
Moreover, revenues are performing slightly less bad than last year. And lastly, load factors have significantly improved from April’s dire 5-10% levels to 25-30% in June.
Southwest has Excellent Cash Burn and Liquidity
Southwest stock has a market value of $21.5 billion. It is now a major airline. Moreover, it has a long history of producing better profits than its peers.
This reputation has carried over to its liquidity and cash burn situation at the present. For example, on the update, Southwest pointed out that its daily core cash burn will be down to $20 million in June. This is half of rivals American Airlines (NASDAQ:AAL) and Delta Air Lines (NYSE:DAL), which are expecting to run $40 million per day in daily cash burn by the end of June.
Right now, Southwest is the only major airline with an investment-grade rating by all three rating agencies. It has cash and liquidity to last 20 months without positive cash free cash flow. Most airlines are expecting that to occur by the end of 2020.
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Moreover, Southwest has more than $13 billion in cash and investments, plus $7.5 in unencumbered assets. This is plenty enough to last to the end of the year.
So, it looks like the carrier will survive. Investors are no longer concerned about this. They see airport traffic picking up. Earnings prospects are also improving dramatically.
Higher Earnings Projections
Sixteen analysts polled by Seeking Alpha estimate that Southwest’s earnings per share will be $2.50 by the end of 2021. So that means that as of June 12, LUV stock, at $35.87, is trading at a forward P/E ratio of just over 14 times earnings in 2021.
That is a very positive estimate for the stock. If you think about it, though, this is nowhere near where the stock used to be valued. For example, Value Line, on its page on LUV stock, estimates that the stock has had an average P/E of between 11x and 17x earnings in the past five years.
Moreover, EPS reached $4.45 in 2019, so the projected earnings of $2.50 in 2021 could go higher. As travel demand rebounds and returns to normal, load factors and profitability will increase.
For example, even if the company got to 80% of its peak profitability, EPS could rise further. It could climb another 44% to $3.60 per share over the expected $2.50 EPS level in 2021. That would take LUV stock even further than it already has gone.
Analysts Change Opinions
Bloomberg reported on June 12 that Credit Suisse published a very positive report on Southwest Airlines. Analyst Jose Caiado De Sousa said the company would have an “aggressive comeback.” He changed his recommendation to the Wall Street equivalent of a “Buy.”
He also raised his target price to $45 per share, which would be a potential gain of more than 25%. Moreover, he believes the company is the best positioned in terms of liquidity and any rise in demand for leisure travel.
Barron’s calls Southwest’s balance sheet a “war chest” … whatever that means. The piece goes on to shed less-favorable light on United Airlines (NASDAQ:UAL) and American. Delta is a better opportunity, according to the same Credit Suisse analyst that Barron’s was reviewing.
What to Do With LUV Stock
Investors should keep in mind that all airline stocks will likely trade together up and down as a group. Some may go further higher, like LUV stock, on positive days. But, it seems to me, they will have all the same direction as a group.
You can do two things with that information: Maybe you might like to buy an airline stock exchange-trade fund like U.S. Global Jets ETF (NYSEARCA:JETS). Or, you could buy a group of such stocks.
But here is one risk with this whole strategy. Gary Kelly, Southwest’s CEO, recently told Bloomberg that he expects to see a “brutal” price war. Once coronavirus fears subside and people begin to fly again, he suspects that a low-fare competition environment will spring up among airlines.
Southwest has a strategy for how to survive during that phase. They expect to keep their capacity very low. That way their load factors and profitability per flight will be high.
But here is the downside. If a price war ensues, don’t expect LUV stock or any of the airline stocks to continue to move up. You will likely have another chance for a bite at the proverbial apple. There will be plenty of time to buy LUV stock to play its rebound.
As of this writing, Mark Hake, CFA does not hold a position in any of the aforementioned securities. Mark Hake runs the Total Yield Value Guide which you can review here.
The post Southwest Airlines Is Looking Like a Turnaround Play as Travel Rebounds appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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This is half of rivals American Airlines (NASDAQ:AAL) and Delta Air Lines (NYSE:DAL), which are expecting to run $40 million per day in daily cash burn by the end of June. Analyst Jose Caiado De Sousa said the company would have an “aggressive comeback.” He changed his recommendation to the Wall Street equivalent of a “Buy.” He also raised his target price to $45 per share, which would be a potential gain of more than 25%. Once coronavirus fears subside and people begin to fly again, he suspects that a low-fare competition environment will spring up among airlines.
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This is half of rivals American Airlines (NASDAQ:AAL) and Delta Air Lines (NYSE:DAL), which are expecting to run $40 million per day in daily cash burn by the end of June. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Southwest Airlines (NYSE:LUV) is slowly turning around, along with the other major airlines. Analysts Change Opinions Bloomberg reported on June 12 that Credit Suisse published a very positive report on Southwest Airlines.
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This is half of rivals American Airlines (NASDAQ:AAL) and Delta Air Lines (NYSE:DAL), which are expecting to run $40 million per day in daily cash burn by the end of June. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Southwest Airlines (NYSE:LUV) is slowly turning around, along with the other major airlines. What to Do With LUV Stock Investors should keep in mind that all airline stocks will likely trade together up and down as a group.
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This is half of rivals American Airlines (NASDAQ:AAL) and Delta Air Lines (NYSE:DAL), which are expecting to run $40 million per day in daily cash burn by the end of June. For example, Value Line, on its page on LUV stock, estimates that the stock has had an average P/E of between 11x and 17x earnings in the past five years. Analysts Change Opinions Bloomberg reported on June 12 that Credit Suisse published a very positive report on Southwest Airlines.
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2e1c5b75-55fb-4c9f-b3e9-0001b1c1db00
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5683.0
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2020-06-15 00:00:00 UTC
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Delta Stock Is Rocky Now, But the Long-Term Payoff Is Huge
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AAL
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https://www.nasdaq.com/articles/delta-stock-is-rocky-now-but-the-long-term-payoff-is-huge-2020-06-15
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
I’m glad I changed my mind on Delta Air Lines (NYSE:DAL) stock in my last article. On June 1, 2020, I wrote, “Delta Air Lines Stock Will Climb As Travelers Return to the Sky,” predicted a turnaround in DAL stock.
DAL) Stock Is Rocky Now, But the Long-Term Payoff Is Huge" width="300" height="169">
Source: Markus Mainka / Shutterstock.com
At the time, the stock was at $25.21 on May 29. By Friday, the stock closed at $30.43. That represents a gain of 20.7%. Even, if you start with the closing price on June 1 of $26.27, the return for any reader of that article has been 16.3%.
My point is that Delta seems to have reached an inflection point. The stock has moved around a good deal since that article, but the bottom line is that it seems to have bottomed out.
Now I am predicting that the same rebound will continue. I expect that Delta will continue to show gains over the next several months, and here’s why:
DAL Stock: Delta Will Likely Trend Higher
First, I believe that the market is beginning to accept that the company will not go bankrupt. It seems to have enough liquidity to last through the hard times of severely reduced revenue.
These 7 Quantum Computing Stocks Are Futuristic Buys
As I pointed out in my last article, the company’s cash burn was at $50 million per day as of mid-May. It expects to get down to $40 million per day by the end of June. Ultimately, it expects to get down to zero cash burn by the end of the year. This would largely be due to a huge pickup in airline travel demand. I pointed out that most of the major airlines expect the same thing.
Second, it appears that travel demand is clearly picking up. For example, if you go to the TSA’s checkpoint travel site, traffic can be seen to be improving. The numbers show airport traffic was down 81% on June 11 from last year. But a month ago, on May 11, traffic was worse, at off 91.4%. On April 11, traffic was at 95.4% of the prior year. In other words, the numbers seem to be improving by 10 percentage points a month and are accelerating on the upside.
Third, analysts are getting more positive on Delta stock. Seeking Alpha says that 15 analysts now project average earnings per share of $3.65 in 2021, after an expected loss in 2020. That puts DAL stock on a forward price-earnings ratio of just 8.3 times earnings. That seems pretty cheap. It implies that the stock could move further higher as travel traffic picks up over the summer.
What to Do With Delta
There is no question this is a cyclical stock. It is going to move around with the sector and major news in the sector. For example, on Friday there was news that American Airlines (NASDAQ:AAL) came out with an 8-K SEC filing “Operational and Financing Update.”
The company said it has now gotten its burn rate down to $40 million per day by the end of June. It also expects to have zero cash burn by the end of 2020. Both of these are what Delta expects to be doing. So both stocks moved up.
In other words, the fact that one airline looks to survive is positive for the other airline stock. Analysts figure the companies are taking similar measures to cut costs, expenses, capital budgets and, of course, financial expenses. What’s good for the goose is good for the gander in this industry.
Look to buy more shares in Delta if you are willing to take on the cyclical and day-to-day trading risk in the stock. I suspect that over the next year, you will be well rewarded, in spite of having some down days.
As of this writing, Mark Hake, CFA does not hold a position in any of the aforementioned securities. Mark Hake runs the Total Yield Value Guide which you can review here.
The post Delta Stock Is Rocky Now, But the Long-Term Payoff Is Huge appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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For example, on Friday there was news that American Airlines (NASDAQ:AAL) came out with an 8-K SEC filing “Operational and Financing Update.” The company said it has now gotten its burn rate down to $40 million per day by the end of June. These 7 Quantum Computing Stocks Are Futuristic Buys As I pointed out in my last article, the company’s cash burn was at $50 million per day as of mid-May. Look to buy more shares in Delta if you are willing to take on the cyclical and day-to-day trading risk in the stock.
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For example, on Friday there was news that American Airlines (NASDAQ:AAL) came out with an 8-K SEC filing “Operational and Financing Update.” The company said it has now gotten its burn rate down to $40 million per day by the end of June. InvestorPlace - Stock Market News, Stock Advice & Trading Tips I’m glad I changed my mind on Delta Air Lines (NYSE:DAL) stock in my last article. On June 1, 2020, I wrote, “Delta Air Lines Stock Will Climb As Travelers Return to the Sky,” predicted a turnaround in DAL stock.
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For example, on Friday there was news that American Airlines (NASDAQ:AAL) came out with an 8-K SEC filing “Operational and Financing Update.” The company said it has now gotten its burn rate down to $40 million per day by the end of June. InvestorPlace - Stock Market News, Stock Advice & Trading Tips I’m glad I changed my mind on Delta Air Lines (NYSE:DAL) stock in my last article. On June 1, 2020, I wrote, “Delta Air Lines Stock Will Climb As Travelers Return to the Sky,” predicted a turnaround in DAL stock.
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For example, on Friday there was news that American Airlines (NASDAQ:AAL) came out with an 8-K SEC filing “Operational and Financing Update.” The company said it has now gotten its burn rate down to $40 million per day by the end of June. I expect that Delta will continue to show gains over the next several months, and here’s why: DAL Stock: Delta Will Likely Trend Higher First, I believe that the market is beginning to accept that the company will not go bankrupt. Third, analysts are getting more positive on Delta stock.
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5684.0
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2020-06-15 00:00:00 UTC
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Is Now the Time to Invest in United Airlines? Not According to This Analyst
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AAL
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https://www.nasdaq.com/articles/is-now-the-time-to-invest-in-united-airlines-not-according-to-this-analyst-2020-06-15
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Airline flight schedules have been severely reduced by the pandemic, but that hasn’t stopped shares of airline stocks flying high and diving low recently. The sector is experiencing extreme bouts of volatility, with sharp drops followed by spiking ascents.
United Airlines (UAL) has been an active participant in the shenanigans, too. Over the past month, as the industry has benefitted from the hope normality will resume soon, UAL shares have popped by a massive 40%. Yet, it is worth noting that even after the rally, the stock is still down year-to-date by a crushing 55%.
Credit Suisse analyst Jose Calado argues that following the surge, now might be the time for investors to move to the sidelines. The analyst rates UAL a Neutral (i.e. Hold) along with a $41 price target. (To watch Calado’s track record, click here)
Explaining his reasoning, Calado said, “UAL remains a well-run carrier which continues to display a proactive approach to crisis management and is making good progress on cost reduction. Our downgrade merely reflects the fact that UAL briefly overshot our target price last week following the recent sector rally, and while it has since settled in just below our TP, we still take this opportunity to step to the sidelines with a Neutral rating. We believe the recent rally off the bottom is an opportunity for investors to prudently reduce their exposure to the network carriers…”
It might be a while before normality fully kicks in again, although progress is being made. UAL’s target of bringing its flight schedule up to 30% capacity in July is an increase over the 10% of flights in May. The target, though, is more conservative than that of American Airlines (AAL), which is looking for a ~40% schedule, including a 55% domestic schedule. Calado believes this is down to the carriers’ “different hub structures,” with AAL’s concentrated in Texas and North Carolina compared to UAL’s New York and California based centers. Additionally, the lower number of flights could also reflect on UAL’s more cautious approach, and resembles the one taken by Delta Air Lines (DAL), which also expects a 25-30% schedule for July.
The rest of the Street backs up Calado’s thesis. 3 buys, 5 Holds and 1 Sell add up to a Hold consensus rating. The average price target hits $40.5 and implies possible downside to the tune of 2.5%. (See UAL stock analysis on TipRanks)
To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Calado believes this is down to the carriers’ “different hub structures,” with AAL’s concentrated in Texas and North Carolina compared to UAL’s New York and California based centers. The target, though, is more conservative than that of American Airlines (AAL), which is looking for a ~40% schedule, including a 55% domestic schedule. Our downgrade merely reflects the fact that UAL briefly overshot our target price last week following the recent sector rally, and while it has since settled in just below our TP, we still take this opportunity to step to the sidelines with a Neutral rating.
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The target, though, is more conservative than that of American Airlines (AAL), which is looking for a ~40% schedule, including a 55% domestic schedule. Calado believes this is down to the carriers’ “different hub structures,” with AAL’s concentrated in Texas and North Carolina compared to UAL’s New York and California based centers. United Airlines (UAL) has been an active participant in the shenanigans, too.
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The target, though, is more conservative than that of American Airlines (AAL), which is looking for a ~40% schedule, including a 55% domestic schedule. Calado believes this is down to the carriers’ “different hub structures,” with AAL’s concentrated in Texas and North Carolina compared to UAL’s New York and California based centers. (To watch Calado’s track record, click here) Explaining his reasoning, Calado said, “UAL remains a well-run carrier which continues to display a proactive approach to crisis management and is making good progress on cost reduction.
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The target, though, is more conservative than that of American Airlines (AAL), which is looking for a ~40% schedule, including a 55% domestic schedule. Calado believes this is down to the carriers’ “different hub structures,” with AAL’s concentrated in Texas and North Carolina compared to UAL’s New York and California based centers. Airline flight schedules have been severely reduced by the pandemic, but that hasn’t stopped shares of airline stocks flying high and diving low recently.
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5685.0
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2020-06-15 00:00:00 UTC
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Why Airline Shares Are Falling Today
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AAL
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https://www.nasdaq.com/articles/why-airline-shares-are-falling-today-2020-06-15
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What happened
Airline shares were under pressure on Monday after United Airlines Holdings (NASDAQ: UAL) moved to shore up its balance sheet via added debt and issuing more shares. Investors are also getting nervous about a resurgence in COVID-19 cases, putting pressure on travel stocks.
United shares traded down 6% as of 11 a.m. EDT, after opening down more than 10%. Shares of American Airlines Group (NASDAQ: AAL) and Delta Air Lines (NYSE: DAL) opened down 9.9% and 8%, respectively, and were each off more than 3% in late-morning trading, while Southwest Airlines (NYSE: LUV) stock had made up most of its initial 6.3% decline.
So what
The airlines have been scrambling to raise cash as the pandemic slashed demand for travel. United is the latest to move, announcing Monday it plans to raise $5 billion by borrowing against its frequent flier program while also filing to issue and sell up to 28 million shares of its common stock.
The efforts, coupled with receipt of $4.5 billion in U.S. Treasury loans as part of the CARES Act, should give the airline total liquidity of $17 billion by the end of September.
Image source: Getty Images.
The added liquidity is a plus, but investors were just as focused on the data United provided highlighting why it needs the cash. In a securities filing United said it "continues to see a steady improvement" for domestic and certain international travel, but July domestic capacity will be down 75% year over year and ticketed passenger revenue is expected to fall by more than 80%.
United expects to burn through an average of $40 million per day in the current quarter, and hopes to have that number down to $30 million per day in the third quarter. That could mean further cost-cutting; the airline says it is in negotiations with its unions concerning future staffing levels.
The hope had been that after an initial pandemic-induced shock to demand in March and April travel would steadily improve through the summer and into the fall. If so the airlines should have ample liquidity to ride out the crisis. But a growing number of new cases in tourism hotspots, including Florida, Texas, and California, are worrying investors that we could face a second wave, and further demand issues, in the months to come.
News that China is reintroducing lockdown measures in Beijing after a new cluster of COVID-19 cases was identified is adding to investor worries.
Now what
It's good United is able to raise additional funding, which should extend the company's runway and allow it to survive even an extended downturn. Unfortunately, it appears there will be no quick bounce-back and the airlines are in for a multiyear recovery.
Assuming the industry does fly through the pandemic without bankruptcies, the added debt taken on during the crisis will weigh on the airlines for years to come. Given the risks and continued uncertainty, it's no surprise investors are moving to the sidelines until more is known about the direction the pandemic is headed.
For those interested in buying in and hoping for the best, it's best to limit yourself to small positions and focus on the top operators who should be able to survive the longest even if there is no immediate recovery.
10 stocks we like better than Southwest Airlines
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David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Southwest Airlines wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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Lou Whiteman owns shares of Delta Air Lines. The Motley Fool recommends Delta Air Lines and Southwest Airlines. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of American Airlines Group (NASDAQ: AAL) and Delta Air Lines (NYSE: DAL) opened down 9.9% and 8%, respectively, and were each off more than 3% in late-morning trading, while Southwest Airlines (NYSE: LUV) stock had made up most of its initial 6.3% decline. United is the latest to move, announcing Monday it plans to raise $5 billion by borrowing against its frequent flier program while also filing to issue and sell up to 28 million shares of its common stock. But a growing number of new cases in tourism hotspots, including Florida, Texas, and California, are worrying investors that we could face a second wave, and further demand issues, in the months to come.
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Shares of American Airlines Group (NASDAQ: AAL) and Delta Air Lines (NYSE: DAL) opened down 9.9% and 8%, respectively, and were each off more than 3% in late-morning trading, while Southwest Airlines (NYSE: LUV) stock had made up most of its initial 6.3% decline. What happened Airline shares were under pressure on Monday after United Airlines Holdings (NASDAQ: UAL) moved to shore up its balance sheet via added debt and issuing more shares. The Motley Fool recommends Delta Air Lines and Southwest Airlines.
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Shares of American Airlines Group (NASDAQ: AAL) and Delta Air Lines (NYSE: DAL) opened down 9.9% and 8%, respectively, and were each off more than 3% in late-morning trading, while Southwest Airlines (NYSE: LUV) stock had made up most of its initial 6.3% decline. What happened Airline shares were under pressure on Monday after United Airlines Holdings (NASDAQ: UAL) moved to shore up its balance sheet via added debt and issuing more shares. 10 stocks we like better than Southwest Airlines When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen.
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Shares of American Airlines Group (NASDAQ: AAL) and Delta Air Lines (NYSE: DAL) opened down 9.9% and 8%, respectively, and were each off more than 3% in late-morning trading, while Southwest Airlines (NYSE: LUV) stock had made up most of its initial 6.3% decline. News that China is reintroducing lockdown measures in Beijing after a new cluster of COVID-19 cases was identified is adding to investor worries. Assuming the industry does fly through the pandemic without bankruptcies, the added debt taken on during the crisis will weigh on the airlines for years to come.
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5686.0
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2020-06-15 00:00:00 UTC
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As Southwest Stock Makes Its Way Back, Expect a Bumpy Ride
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AAL
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https://www.nasdaq.com/articles/as-southwest-stock-makes-its-way-back-expect-a-bumpy-ride-2020-06-15
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Southwest Airlines (NYSE:LUV) has been among the best performers when it comes to the airline stocks. While LUV stock may not have rallied as hard as some of its peers over the last week, its share price has lost the least amount of altitude amid the selloff.
Source: madamF / Shutterstock.com
We’re at a very interesting crossroads, not just with Southwest but with the entire industry. On the one hand, most of these stocks deserved to sell off. Revenue plunged as airline traffic fell more than 90% at the lows. With little revenue coming in, Southwest and other airlines still had ongoing costs.
This flipped the bottom line from positive to negative and crushed free cash flow. Worse, Q2 (the current quarter) and Q3 tend to be most airlines’ best quarters when it comes to revenue and free cash flow.
But there’s a reason Southwest Airlines has outperformed its peers. Let’s have a closer look.
Valuing LUV Stock
From its 2020 high, LUV stock is currently down 44%. That includes the 11% spill it took on June 11, as the overall market was hit hard.
The 7 Best Semiconductor Stocks on the Market Now
While a 44% decline is nothing to brag about, it’s certainly better than the 53% fall in American Airlines (NASDAQ:AAL) and the 56% dip in Delta Air Lines (NYSE:DAL). It’s significantly better than the 63% selloff in United Airlines (NASDAQ:UAL).
So why has Southwest been able to perform so much better than its peers? Put simply, its balance sheet is better than its peers. With less leverage and a more conservative approach, it’s on better financial footing in these tumultuous times.
As airline traffic begins to return, investors are hoping Southwest can ride these strong financials to more prosperous times. In speaking with InvestorPlace, Dirk Hackbarth, professor of Finance at Boston University Questrom School of Business, had this to say about Southwest and its peers:
“The airline industry is [a] debt-ridden industry because it has fixed obligations from bonds, loans, etc. as well as airplane lease agreements; the latter are presumably similar across firms.
“While Delta Air Lines exhibits an average financial leverage policy, Southwest Airlines appears to be the most conservative one with leverage below the airline industry’s average along with different measures of financial risk. United Airlines Holdings and especially American Airlines Group have the highest financial risk.”
For airlines, the problem is the rebound. Just how fast will the industry return to pre-coronavirus capacity?
Estimates call for a halving of Southwest’s revenue from $22.4 billion last year to $10.75 billion this year. That’s alongside a 200% decline in earnings, with forecasts calling for a swing from $4.45 per share in profit in 2019 to a $4.62 per share loss in 2020.
Next year, estimates call for sales of just $18.1 billion and for earnings of $2.01 per share. That’s not a bad rebound, but if these estimates are even close to accurate, it tells us the recovery back to pre-coronavirus levels will take years, not quarters.
Trading Southwest Stock
Source: Chart courtesy of StockCharts.com
Two things make LUV stock a difficult proposition for investors. The first is the slow recovery in the business, which we just highlighted. The other is the valuation. Southwest Airlines — and all the airlines for that matter — never commanded a high valuation.
In the current environment, the valuations may seem high because earnings have plunged. But make no mistake about it, if investors weren’t willing to pay a premium during good times, they’re certainly not going to in bad times.
Also making LUV stock difficult has been the rebound. At its recent high, shares were up 88% from the lows, a move that took just 15 trading sessions to play out.
On the plus side, shares have declined in three straight sessions and investors now have a better idea of the technical setup. For instance, $42 is clear resistance, while $30 will hopefully be support should the stock test down into this mark. If it does, Southwest can also fill the gap from May.
The moves have been so extreme in this group that I wouldn’t put too much faith in any one level holding. Near $31 is the 50-day moving average, as is the 23.6% retracement. So this $30 to $31 area could be a decent level to measure against, provided bulls have the discipline to cut LUV stock should support fail.
On a rebound, let’s see if a retest of the 100-day moving average is possible near $40.
Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities.
The post As Southwest Stock Makes Its Way Back, Expect a Bumpy Ride appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The 7 Best Semiconductor Stocks on the Market Now While a 44% decline is nothing to brag about, it’s certainly better than the 53% fall in American Airlines (NASDAQ:AAL) and the 56% dip in Delta Air Lines (NYSE:DAL). While LUV stock may not have rallied as hard as some of its peers over the last week, its share price has lost the least amount of altitude amid the selloff. So this $30 to $31 area could be a decent level to measure against, provided bulls have the discipline to cut LUV stock should support fail.
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The 7 Best Semiconductor Stocks on the Market Now While a 44% decline is nothing to brag about, it’s certainly better than the 53% fall in American Airlines (NASDAQ:AAL) and the 56% dip in Delta Air Lines (NYSE:DAL). InvestorPlace - Stock Market News, Stock Advice & Trading Tips Southwest Airlines (NYSE:LUV) has been among the best performers when it comes to the airline stocks. “While Delta Air Lines exhibits an average financial leverage policy, Southwest Airlines appears to be the most conservative one with leverage below the airline industry’s average along with different measures of financial risk.
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The 7 Best Semiconductor Stocks on the Market Now While a 44% decline is nothing to brag about, it’s certainly better than the 53% fall in American Airlines (NASDAQ:AAL) and the 56% dip in Delta Air Lines (NYSE:DAL). InvestorPlace - Stock Market News, Stock Advice & Trading Tips Southwest Airlines (NYSE:LUV) has been among the best performers when it comes to the airline stocks. “While Delta Air Lines exhibits an average financial leverage policy, Southwest Airlines appears to be the most conservative one with leverage below the airline industry’s average along with different measures of financial risk.
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The 7 Best Semiconductor Stocks on the Market Now While a 44% decline is nothing to brag about, it’s certainly better than the 53% fall in American Airlines (NASDAQ:AAL) and the 56% dip in Delta Air Lines (NYSE:DAL). InvestorPlace - Stock Market News, Stock Advice & Trading Tips Southwest Airlines (NYSE:LUV) has been among the best performers when it comes to the airline stocks. United Airlines Holdings and especially American Airlines Group have the highest financial risk.” For airlines, the problem is the rebound.
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5687.0
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2020-06-15 00:00:00 UTC
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U.S. stocks futures drop on fears of fresh virus wave
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AAL
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https://www.nasdaq.com/articles/u.s.-stocks-futures-drop-on-fears-of-fresh-virus-wave-2020-06-15
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By Devik Jain and Medha Singh
June 15 (Reuters) - U.S. stock index futures tumbled on Monday as a recent jump in coronavirus cases in China and parts of the United States doused investor hopes of a quick economic rebound that had powered the Nasdaq to record levels last week.
Beijing re-imposed measures to curb the spread of the virus after a wholesale food market saw an unexpected spike of cases. A record number of new infections and hospitalizations were reported in more U.S. states, including Florida and Texas over the weekend.
Travel stocks which were hit hard as passenger numbers dwindled due to travel restrictions, slumped on Monday with United Airlines Holdings Inc UAL.O, American Airlines Group Inc AAL.O, Carnival Corp CCL.N, Norwegian Cruise Line Holdings Ltd NCLH.N and Royal Caribbean Cruises Ltd RCL.N down between 5.1% and 7.4% in premarket trading.
The CBOE volatility index .VIX, a gauge of investor anxiety, jumped to its highest level since April 22 at 44.44 points.
Wall Street's main indexes finished higher on Friday but marked their worst week since the March selloff, following the U.S. Federal Reserve's sobering economic outlook and fears of a second wave of infections.
Earlier last week, the tech-heavy Nasdaq confirmed it was in bull market territory.
At 6:06 a.m. ET, Dow e-minis 1YMcv1 were down 452 points, or 1.77%. S&P 500 e-minis EScv1 were down 46.75 points, or 1.54% and Nasdaq 100 e-minis NQcv1 were down 120.75 points, or 1.25%.
Stocks from economically-sensitive sectors including financials and energy also lost ground. U.S. lenders Bank of America Corp BAC.N, Citigroup Inc C.N and Morgan Stanley MS.N dropped 3.1% to 4%. Oil majors Exxon Mobil Corp XOM.N and Chevron Corp CVX.N shed 2.8% and 1.5% respectively.
(Reporting by Devik Jain in Bengaluru; Editing by Shounak Dasgupta)
((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2062; ;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Travel stocks which were hit hard as passenger numbers dwindled due to travel restrictions, slumped on Monday with United Airlines Holdings Inc UAL.O, American Airlines Group Inc AAL.O, Carnival Corp CCL.N, Norwegian Cruise Line Holdings Ltd NCLH.N and Royal Caribbean Cruises Ltd RCL.N down between 5.1% and 7.4% in premarket trading. By Devik Jain and Medha Singh June 15 (Reuters) - U.S. stock index futures tumbled on Monday as a recent jump in coronavirus cases in China and parts of the United States doused investor hopes of a quick economic rebound that had powered the Nasdaq to record levels last week. Wall Street's main indexes finished higher on Friday but marked their worst week since the March selloff, following the U.S. Federal Reserve's sobering economic outlook and fears of a second wave of infections.
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Travel stocks which were hit hard as passenger numbers dwindled due to travel restrictions, slumped on Monday with United Airlines Holdings Inc UAL.O, American Airlines Group Inc AAL.O, Carnival Corp CCL.N, Norwegian Cruise Line Holdings Ltd NCLH.N and Royal Caribbean Cruises Ltd RCL.N down between 5.1% and 7.4% in premarket trading. By Devik Jain and Medha Singh June 15 (Reuters) - U.S. stock index futures tumbled on Monday as a recent jump in coronavirus cases in China and parts of the United States doused investor hopes of a quick economic rebound that had powered the Nasdaq to record levels last week. A record number of new infections and hospitalizations were reported in more U.S. states, including Florida and Texas over the weekend.
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Travel stocks which were hit hard as passenger numbers dwindled due to travel restrictions, slumped on Monday with United Airlines Holdings Inc UAL.O, American Airlines Group Inc AAL.O, Carnival Corp CCL.N, Norwegian Cruise Line Holdings Ltd NCLH.N and Royal Caribbean Cruises Ltd RCL.N down between 5.1% and 7.4% in premarket trading. By Devik Jain and Medha Singh June 15 (Reuters) - U.S. stock index futures tumbled on Monday as a recent jump in coronavirus cases in China and parts of the United States doused investor hopes of a quick economic rebound that had powered the Nasdaq to record levels last week. S&P 500 e-minis EScv1 were down 46.75 points, or 1.54% and Nasdaq 100 e-minis NQcv1 were down 120.75 points, or 1.25%.
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Travel stocks which were hit hard as passenger numbers dwindled due to travel restrictions, slumped on Monday with United Airlines Holdings Inc UAL.O, American Airlines Group Inc AAL.O, Carnival Corp CCL.N, Norwegian Cruise Line Holdings Ltd NCLH.N and Royal Caribbean Cruises Ltd RCL.N down between 5.1% and 7.4% in premarket trading. Beijing re-imposed measures to curb the spread of the virus after a wholesale food market saw an unexpected spike of cases. The CBOE volatility index .VIX, a gauge of investor anxiety, jumped to its highest level since April 22 at 44.44 points.
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5688.0
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2020-06-15 00:00:00 UTC
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Buy Uber Stock on Weakness as Trends Point to Big Boost for Ride Sharing
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AAL
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https://www.nasdaq.com/articles/buy-uber-stock-on-weakness-as-trends-point-to-big-boost-for-ride-sharing-2020-06-15
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
After Uber (NYSE:UBER) stock retreated last week, investors should buy the shares. I continue to believe that Uber and its top competitor, Lyft (NASDAQ:LYFT), will benefit from the decline of mass transit ridership, the opening of economies and the rebound in demand for flying. There are multiple signs that these trends are already beginning to strongly boost demand for ride-sharing services.
Source: TY Lim / Shutterstock.com
Even the name “mass transit” sounds very bad during a pandemic. And I think it’s clear that riding subways and buses are much more dangerous than flying; planes are heavily ventilated and thoroughly cleaned after every flight. Moreover, most airlines are leaving the middle seat open on their planes, enabling some degree of social distancing.
Even as New York City has begun to reopen, “those who can avoid public transit are doing so,” The Indypendent reported recently. New Jersey has also started to reopen, but the ridership on New Jersey Transit is still 93% below normal levels, the agency’s head recently reported.
The Indypendent emphasized that many New Yorkers are riding bicycles instead of subways. But for others, Uber and Lyft are good alternatives. After all, riding in a car with one other person who’s definitely wearing a mask, sits is around 18 inches away and face in the opposite direction sounds like a much better alternative than potentially sitting inches away from people who may or may not be wearing masks. And, of course, automobiles move much more faster — even in big-city traffic — than bikes.
In large cities in the U.S. and Europe, demand for ridesharing is likely already being boosted by people’s desire to avoid mass transit amid the pandemic. As economies reopen, that trend will intensify, boosting ridesharing’s results and Uber stock.
Demand for Flying Is Rebounding
As I noted in a recent column on American Airlines (NASDAQ:AAL), “last month, an average of 110,000 people per day flew” on the company’s planes, up dramatically from about 32,000 customers per day in April. according to The Boston Globe. I also reported that the airline expects demand to increase further this month and ” plans to increase its capacity to 55% of its pre-pandemic schedule in July, versus just 20% in May.”
7 Great Biotech Stocks to Buy and Hold Now
And as I stated in a previous column on Lyft, ridesharing services clearly benefit from increased demand for flying.
Upbeat on Uber and Lyft
On June 3, Lyft reported that it had provided 26% more rides in May than in April. The company noted that, in cities where lockdowns had been eased, the rebound was especially powerful. Clearly, the reopenings, combined with avoidance of mass transit and the resumption of air travel, are already causing demand for ridesharing to jump.
Research firm Needham noted that the number of rides provided by Lyft during the last week of May had fallen less than 66% year-over-year. In the wake of Lyft’s report, the firm expects Uber’s second-quarter results to beat analysts’ average expectations.
The firm thinks that Uber’s Q2 EBITDA loss could come in at $275 million, versus its previous outlook of $360 million. The analysts there kept a $42 price target on Uber stock.
Bottom Line on Uber Stock
Continued reopenings, along with less use of mass transit and a rebounding in flying, will prove to be a winning combination for Uber stock. Indeed, Lyft’s update proves that the formula is already starting to work.
I believe that Uber’s shares can reach Needham’s price target of $42 by the end of September. Uber stock closed at $32 on Friday, so I think that investors who pull the trigger on the shares can realize a 30% profit in just a few months.
As of this writing, Larry Ramer did not own shares of any of the aforementioned securities. Larry Ramer has conducted research and written articles on U.S. stocks for 13 years. He has been employed by The Fly and Israel’s largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been airline stocks, oil stocks and Snap. You can reach him on StockTwits at @larryramer.
The post Buy Uber Stock on Weakness as Trends Point to Big Boost for Ride Sharing appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Demand for Flying Is Rebounding As I noted in a recent column on American Airlines (NASDAQ:AAL), “last month, an average of 110,000 people per day flew” on the company’s planes, up dramatically from about 32,000 customers per day in April. In large cities in the U.S. and Europe, demand for ridesharing is likely already being boosted by people’s desire to avoid mass transit amid the pandemic. Clearly, the reopenings, combined with avoidance of mass transit and the resumption of air travel, are already causing demand for ridesharing to jump.
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Demand for Flying Is Rebounding As I noted in a recent column on American Airlines (NASDAQ:AAL), “last month, an average of 110,000 people per day flew” on the company’s planes, up dramatically from about 32,000 customers per day in April. I also reported that the airline expects demand to increase further this month and ” plans to increase its capacity to 55% of its pre-pandemic schedule in July, versus just 20% in May.” 7 Great Biotech Stocks to Buy and Hold Now And as I stated in a previous column on Lyft, ridesharing services clearly benefit from increased demand for flying. In the wake of Lyft’s report, the firm expects Uber’s second-quarter results to beat analysts’ average expectations.
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Demand for Flying Is Rebounding As I noted in a recent column on American Airlines (NASDAQ:AAL), “last month, an average of 110,000 people per day flew” on the company’s planes, up dramatically from about 32,000 customers per day in April. InvestorPlace - Stock Market News, Stock Advice & Trading Tips After Uber (NYSE:UBER) stock retreated last week, investors should buy the shares. I also reported that the airline expects demand to increase further this month and ” plans to increase its capacity to 55% of its pre-pandemic schedule in July, versus just 20% in May.” 7 Great Biotech Stocks to Buy and Hold Now And as I stated in a previous column on Lyft, ridesharing services clearly benefit from increased demand for flying.
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Demand for Flying Is Rebounding As I noted in a recent column on American Airlines (NASDAQ:AAL), “last month, an average of 110,000 people per day flew” on the company’s planes, up dramatically from about 32,000 customers per day in April. InvestorPlace - Stock Market News, Stock Advice & Trading Tips After Uber (NYSE:UBER) stock retreated last week, investors should buy the shares. I continue to believe that Uber and its top competitor, Lyft (NASDAQ:LYFT), will benefit from the decline of mass transit ridership, the opening of economies and the rebound in demand for flying.
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93d589e2-3713-473f-b232-965f5a8c2563
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5689.0
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2020-06-15 00:00:00 UTC
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Don’t Buy Into the Recent Rally in American Airlines Stock
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AAL
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https://www.nasdaq.com/articles/dont-buy-into-the-recent-rally-in-american-airlines-stock-2020-06-15
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Airline stocks are surging off March lows after an uptick in demand for air travel as the U.S., and other countries have started to ease lockdown restrictions. American Airlines (NASDAQ:AAL) announced that it was resuming a sizable number of flights in July due to the increased demand. As a result, AAL stock has jumped 37% in the past two weeks. Is the increase justified?
Source: GagliardiPhotography / Shutterstock.com
It’s true that American is adding back some capacity for the summer, but that is expected to be only 55% of the level in July 2019. Moreover, with social distancing and other preventive health measures in place, it is tough to imagine how the company will carry even that 55% passenger load.
On top of that, international flights will remain down by more than 80% year-over-year. Additionally, the company is worn down by its massive debt load, which will continue to grow if demand does not return to some normalcy. Let’s look at some of the factors which make AAL stock a bearish prospect at this point.
Traffic Doesn’t Necessarily Equal Profits
American’s July schedule suggests that booking trends are improving, and the airline sector could be heading toward recovery. However, demand is well below 2019 levels at this time and is expected to stay that way for the foreseeable future.
How “well below” is demand? One metric, TSA checkpoint data, shows that passenger traffic is down 85% year-over-year in recent weeks. These numbers could improve, but it’s tough to imagine how such deplorable levels of volume could help U.S. airlines make much money. This is especially true for a company like American, which has struggled with its net profit margins for most of the past decade.
Furthermore, these gradual improvements in traffic are less impressive when they are matched with remarkably low fares. Airline companies have been offering ridiculous discounts to generate sales but are ruining margins in the process. American Airlines, in particular, seems to be leading the pack in offering massive discounts at this time. Through the end of April, the company was selling one-way tickets between Miami and Los Angeles for $16 and a round-trip for only $32!
7 Great Biotech Stocks to Buy and Hold Now
If its fares were similar to 2019 levels, the company’s cash flow forecast would’ve improved, but at this point, it is merely adding to the cash burn rate, which is expected to be around $6 billion in the second quarter alone.
Growing Debt Burden
American Airlines’ debt and lease obligations were at $33.4 billion at the start of 2020 and increased by 3% to $34.1 billion in the first quarter. It’s interesting to note that these figures were before the company starting burning any cash.
However, since then, the cash burn rate has magnified astronomically to $70 million a day in April, which is the highest rate for any air carrier. With its belt-tightening measures, the company has reduced that number to $50 million by June which implies a $6 billion cash burn in the second quarter.
Management is hopeful, though, that it would be in a better position after the second quarter with a 62% higher liquidity balance compared to the first quarter. What takes the sheen off that statistic is that a significant portion of this increase is attributable to CARES Act payroll support funds, which the company expects to receive in the second quarter. The funds total about $5 billion, and American may also consider tapping into the $4.75 billion secured loans under the CARES Act.
Since at least 30% of the payroll support comes in the form of a loan, that would mean that it would be taking an additional $6 billion in long-term debt and having already drawn roughly $3 billion in the second quarter, the debt and lease liabilities will be well over $40 billion by the second quarter. With demand not returning to 2019 levels any time soon, things could get bad for worse for American.
Looking Ahead
Despite the uptick, I’m not upbeat about the travel airline sector. A lot of it is down to the uncertainty surrounding the novel coronavirus and its long-term effects on consumption patterns. Besides, we are not even sure if there would be a second wave of infections that could force us back into lockdown again.
Airline companies are trying their best with lower fares and enhanced medical protocols to boost customer confidence. American Airlines announced that in its Admiral Lounge, it would have touchless access to restrooms, new plexiglass shields, sanitizer stations, and signage to encourage proper social distancing. All these efforts will put immense pressure on the company’s cost structure going forward.
Most experts believe that demand will remain suppressed for the long haul, and it may take more than two years before companies like American Airlines could return to profitability. At the same time, domestic competition between airline companies will squeeze margins further.
American is also looking to cut 30% of management and administration jobs due to the low demand. Elise Eberwein, the carrier’s executive vice president of people and global engagement, told employees that the company must “plan for operating a smaller airline for the foreseeable future.”
Final Word on AAL stock
American Airlines is in a tough spot heading into the latter half of the year. Its debt burden is gradually increasing, and with demand expected to be nowhere near pre-pandemic levels, American has its work cut out. AAL stock price had a bad run for most of last week — falling almost 23% — before Friday’s massive 16%+ rebound.
Still, analysts expect a mean price target of $12, which is 28% lower than its current price of $16.74. Therefore, I expect American’s woes to continue for the foreseeable future.
As of this writing, Muslim Farooque did not hold a position in any of the aforementioned securities.
The post Don’t Buy Into the Recent Rally in American Airlines Stock appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines (NASDAQ:AAL) announced that it was resuming a sizable number of flights in July due to the increased demand. As a result, AAL stock has jumped 37% in the past two weeks. Let’s look at some of the factors which make AAL stock a bearish prospect at this point.
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American Airlines (NASDAQ:AAL) announced that it was resuming a sizable number of flights in July due to the increased demand. As a result, AAL stock has jumped 37% in the past two weeks. Let’s look at some of the factors which make AAL stock a bearish prospect at this point.
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Elise Eberwein, the carrier’s executive vice president of people and global engagement, told employees that the company must “plan for operating a smaller airline for the foreseeable future.” Final Word on AAL stock American Airlines is in a tough spot heading into the latter half of the year. American Airlines (NASDAQ:AAL) announced that it was resuming a sizable number of flights in July due to the increased demand. As a result, AAL stock has jumped 37% in the past two weeks.
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American Airlines (NASDAQ:AAL) announced that it was resuming a sizable number of flights in July due to the increased demand. As a result, AAL stock has jumped 37% in the past two weeks. Let’s look at some of the factors which make AAL stock a bearish prospect at this point.
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9ecb9a92-e397-4982-a405-dd5e3b880d88
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5690.0
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2020-06-15 00:00:00 UTC
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United Airlines secures $5 bln loan backed by loyalty program
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AAL
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https://www.nasdaq.com/articles/united-airlines-secures-%245-bln-loan-backed-by-loyalty-program-2020-06-15-0
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nan
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nan
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By Tracy Rucinski
CHICAGO, June 15 (Reuters) - United Airlines UAL.O said on Monday it is securing a $5 billion loan backed by its MileagePlus loyalty program, further buffering its liquidity even as bookings hit by the coronavirus pandemic improve.
Chicago-based United said that if it also decides to a tap $4.5 billion government loan before Sept. 30, it would have $17 billion in total liquidity.
This would be enough to carry it through a potential second or third wave of COVID-19, senior executives said.
Under the loan deal structured by Goldman Sachs, Barclays Bank and Morgan Stanley Senior Funding, United will retain control over its loyalty program, valued at about $20 billion, the airline executives said.
Slots, gates and routes could be used as collateral for the government loan, the company said. Rival American Airlines AAL.O has said it could use its loyalty program as collateral for a government loan.
United sees its daily cash burn slowing to $30 million per day by the end of the third quarter, and said it could reach break-even by the end of the year, as American and Delta Air Lines DAL.N have forecast, depending on how demand evolves.
The airline said ticketed passenger revenue has jumped for June and July versus April, when U.S. passenger numbers reached a record low, but said July revenue would still be down between 82% and 88% from a year ago.
It still expects demand to be down on Oct. 1, when billions of dollars in government payroll aid for airline employees runs out.
(Reporting by Tracy Rucinski; Editing by Steve Orlofsky and Jonathan Oatis)
((tracy.rucinski@thomsonreuters.com; 1-312-408-8575; Reuters Messaging: tracy.rucinski.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Rival American Airlines AAL.O has said it could use its loyalty program as collateral for a government loan. By Tracy Rucinski CHICAGO, June 15 (Reuters) - United Airlines UAL.O said on Monday it is securing a $5 billion loan backed by its MileagePlus loyalty program, further buffering its liquidity even as bookings hit by the coronavirus pandemic improve. Under the loan deal structured by Goldman Sachs, Barclays Bank and Morgan Stanley Senior Funding, United will retain control over its loyalty program, valued at about $20 billion, the airline executives said.
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Rival American Airlines AAL.O has said it could use its loyalty program as collateral for a government loan. By Tracy Rucinski CHICAGO, June 15 (Reuters) - United Airlines UAL.O said on Monday it is securing a $5 billion loan backed by its MileagePlus loyalty program, further buffering its liquidity even as bookings hit by the coronavirus pandemic improve. Chicago-based United said that if it also decides to a tap $4.5 billion government loan before Sept. 30, it would have $17 billion in total liquidity.
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Rival American Airlines AAL.O has said it could use its loyalty program as collateral for a government loan. By Tracy Rucinski CHICAGO, June 15 (Reuters) - United Airlines UAL.O said on Monday it is securing a $5 billion loan backed by its MileagePlus loyalty program, further buffering its liquidity even as bookings hit by the coronavirus pandemic improve. Chicago-based United said that if it also decides to a tap $4.5 billion government loan before Sept. 30, it would have $17 billion in total liquidity.
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Rival American Airlines AAL.O has said it could use its loyalty program as collateral for a government loan. By Tracy Rucinski CHICAGO, June 15 (Reuters) - United Airlines UAL.O said on Monday it is securing a $5 billion loan backed by its MileagePlus loyalty program, further buffering its liquidity even as bookings hit by the coronavirus pandemic improve. Under the loan deal structured by Goldman Sachs, Barclays Bank and Morgan Stanley Senior Funding, United will retain control over its loyalty program, valued at about $20 billion, the airline executives said.
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302f597c-dac9-4483-ace4-65baf778d4df
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5691.0
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2020-06-14 00:00:00 UTC
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Wall St Week Ahead-Investors bet bounce in value stocks will stick
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AAL
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https://www.nasdaq.com/articles/wall-st-week-ahead-investors-bet-bounce-in-value-stocks-will-stick-2020-06-14
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nan
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nan
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By David Randall
NEW YORK, June 12 (Reuters) - As the U.S. economy begins to emerge from the sharp slowdown during the coronavirus pandemic, some fund managers have been drawn to value stocks, a sector that underperformed during the recent rally.
Value stocks, which typically sport lower price-to-earnings valuations, tended to underperform growth stocks during the bull market that ran for more than a decade and ended this year.
That pattern has recently reasserted itself: The S&P 500 Value index was up just 4.5% over the last month compared to a 5% gain in the S&P 500 Growth index.
Yet better-than-expected readings on U.S. employment and other indicators have money managers thinking about lightening up on the stocks driving the rally in favor of sectors such as financials and energy. A sustained bounce in these economically sensitive areas could be an encouraging signal for the nascent recovery, investors said.
The coronavirus pandemic "reset the economy back to a recession, and now you're in a brand new economic cycle. That typically favors value names," said Ernesto Ramos, head of equities at BMO Global Asset Management.
Ramos has been buying shares of companies he believes will get a boost when consumer spending rebounds, including Sprouts Farmers Market Inc SFM.O. Shares of the company trade at a trailing price two earnings ratio of 15.5, well below the broad S&P 500's trailing ratio of 22.2. He also owns shares of PepsiCo Inc PEP.O and U.S. supermarket chain Kroger Co KR.N.
Phil Orlando, chief equity market strategist at Federated Hermes, has been shifting away from technology and healthcare stocks and into financial and energy companies. Technology stocks in the S&P 500 are up nearly 30% since the start of April, while finanical stocks are up 20%.
"We think they will provide leadership here as the market starts to shift from a risk-off position to more of a risk-on," he said.
Investors will watch a raft of U.S. data next week including retail sales and business inventories for more evidence of an economy on the mend. On Thursday, the S&P 500 notched its biggest daily drop since mid-March after a cautionary economic forecast from the U.S. Federal Reserve and concerns over a possible resurgence of Covid-19.
"We’ve always said that what started with the virus will end with the virus," said Katie Nixon, chief investment officer at Northern Trust Wealth Management.
Increased uncertainty over growth or the pandemic's trajectory could push investors back into the growth companies that have delivered performance in recent months, even as the U.S. economy reeled from countrywide shutdowns, she said.
Despite those concerns, some fund managers who have benefited from the jump in momentum stocks are becoming more cautious, expecting that value will soon regain favor.
"In the short-term, people have been hiding out in a handful of names," said Mike Lippert, portfolio manager of the Baron Opportunity Fund. "Sooner or later we will get a real economic recovery and from that point the stocks that were thrown out will lead the market."
(Reporting by David Randall; Editing by David Gregorio)
((David.Randall@thomsonreuters.com; 646-223-6607; Reuters Messaging: david.randall.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Randall NEW YORK, June 12 (Reuters) - As the U.S. economy begins to emerge from the sharp slowdown during the coronavirus pandemic, some fund managers have been drawn to value stocks, a sector that underperformed during the recent rally. Yet better-than-expected readings on U.S. employment and other indicators have money managers thinking about lightening up on the stocks driving the rally in favor of sectors such as financials and energy. Phil Orlando, chief equity market strategist at Federated Hermes, has been shifting away from technology and healthcare stocks and into financial and energy companies.
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By David Randall NEW YORK, June 12 (Reuters) - As the U.S. economy begins to emerge from the sharp slowdown during the coronavirus pandemic, some fund managers have been drawn to value stocks, a sector that underperformed during the recent rally. Phil Orlando, chief equity market strategist at Federated Hermes, has been shifting away from technology and healthcare stocks and into financial and energy companies. (Reporting by David Randall; Editing by David Gregorio) ((David.Randall@thomsonreuters.com; 646-223-6607; Reuters Messaging: david.randall.thomsonreuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Randall NEW YORK, June 12 (Reuters) - As the U.S. economy begins to emerge from the sharp slowdown during the coronavirus pandemic, some fund managers have been drawn to value stocks, a sector that underperformed during the recent rally. Value stocks, which typically sport lower price-to-earnings valuations, tended to underperform growth stocks during the bull market that ran for more than a decade and ended this year. Increased uncertainty over growth or the pandemic's trajectory could push investors back into the growth companies that have delivered performance in recent months, even as the U.S. economy reeled from countrywide shutdowns, she said.
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By David Randall NEW YORK, June 12 (Reuters) - As the U.S. economy begins to emerge from the sharp slowdown during the coronavirus pandemic, some fund managers have been drawn to value stocks, a sector that underperformed during the recent rally. Phil Orlando, chief equity market strategist at Federated Hermes, has been shifting away from technology and healthcare stocks and into financial and energy companies. Increased uncertainty over growth or the pandemic's trajectory could push investors back into the growth companies that have delivered performance in recent months, even as the U.S. economy reeled from countrywide shutdowns, she said.
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6c13758e-77ad-46fc-9fd7-655049e63385
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5692.0
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2020-06-13 00:00:00 UTC
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Why Mark Cuban Compares Today's Market to the Dot-Com Bubble
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AAL
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https://www.nasdaq.com/articles/why-mark-cuban-compares-todays-market-to-the-dot-com-bubble-2020-06-13
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nan
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nan
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Today's stock market is starting to feel like the dot-com bubble, according to billionaire investor and Shark Tank star Mark Cuban.
In an interview with Real Vision, Cuban said that it wasn't just the recent rally in the market, but the massive boom in day trading that's reminding him of the euphoria in the markets just before the technology sector crashed. Thanks to easy-to-use trading apps, we're seeing quite a bit of gambling in the markets lately, and it could end very badly.
Image source: Getty Images.
Why are so many people jumping into day trading?
Why are we seeing such a surge in day trading? For one thing, with casinos and sports curtailed the last few months, people haven't been able to gamble through traditional means. That paired with many Americans unemployed, receiving enhanced unemployment benefits and stimulus checks, has given many more disposable income than when they were employed. And finally, the emergence of commission-free stock trading on user-friendly platforms like Robinhood has made it easier than ever to move in and out of stocks frequently.
Another potential reason is that it's quite frankly been easy to make money recently. Since the stock market bottomed in late March, it's been on a clear upward trajectory (until very recently). As Cuban said, "If you're a day trader and you can walk and chew gum, you are making money right now." Traders who bought airlines, cruise lines, hotels, and other beaten-down stocks in particular have had plenty of opportunities for profits.
Why is the day trading boom so concerning?
When the market goes up, everyone can look like an investing genius. And it's easy to get overconfident. One of the most notorious new day traders, Barstool Sports founder Dave Portnoy recently said "I'm just printing money...Why take profits when every airline goes up 20% every day? Losers take profits. Winners push the chips to the middle...I should be up a billion dollars."
Portnoy even went so far as to say that he's better than Warren Buffett, one of the greatest investors of all time. "There's nobody who can argue that Warren Buffett is better at the stock market than I am right now. I'm better than he is. That's a fact."
Well, as Warren Buffett has said, "Only when the tide goes out do you discover who's been swimming naked."
In simple terms, when it's so easy to make money, it's just as easy (if not more) to lose money when the tide turns. Especially if you continuously double down on your winners, as Portnoy suggested.
Consider this list of some of the most popular stocks traded on Robinhood recently and how they've performed over the three-day period from June 10 through June 12 as the market abruptly reversed course:
COMPANY (SYMBOL)
6/10 THROUGH 6/12 PRICE CHANGE
Ford Motor Co. (NYSE: F)
-18.6%
General Electric (NYSE: GE)
-17.9%
American Airlines (NASDAQ: AAL)
-29.2%
Delta Airlines (NYSE: DAL)
-26.4%
Carnival Corp. (NYSE: CCL)
-30%
GoPro (NASDAQ: GPRO)
-17.8%
Source: Robinhood. Performance data from yCharts.
The bottom line on day trading that all new investors should know
I'm not saying that day traders are buying bad stocks. In fact, I own General Electric in my personal portfolio, and Ford is a stock I'm considering as well. Many of the stocks being traded on Robinhood have the potential to be excellent long-term investments.
Here's the point. Long-term investors can handle price swings like those in the chart above. Day traders can't, especially if they're constantly doubling down on winning trades. The mathematics simply aren't in their favor over the long run.
Consider this simplified example. Let's say you are a day trader, and you buy a stock for $10,000. It goes down by 20% today, so you sell and cut your losses and now have $8,000. The next day, you buy another stock, and it goes up by 20%. Your $8,000 is now $9,600 and you're still down. If the same two-day cycle repeats, you'll be down to a little over $9,200, even though you gained and lost the same percentages each day. When you're a day trader, losses really hurt. And this doesn't include the effects of trading with margin (borrowed money), which is extremely common among day traders.
Long-term stock investors don't have to deal with this. If my General Electric stock rises by 100% over the next five years, I really don't care about the path it took to get there. That's the difference between trading and investing, and why the best way to build wealth is to simply find excellent businesses and hold them for as long as they remain excellent businesses, or until you need the money.
10 stocks we like better than Walmart
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Matthew Frankel, CFP owns shares of General Electric. The Motley Fool recommends Carnival and Delta Air Lines. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Ford Motor Co. (NYSE: F) -18.6% General Electric (NYSE: GE) -17.9% American Airlines (NASDAQ: AAL) -29.2% Delta Airlines (NYSE: DAL) -26.4% Carnival Corp. (NYSE: CCL) -30% GoPro (NASDAQ: GPRO) -17.8% Source: Robinhood. Today's stock market is starting to feel like the dot-com bubble, according to billionaire investor and Shark Tank star Mark Cuban. Traders who bought airlines, cruise lines, hotels, and other beaten-down stocks in particular have had plenty of opportunities for profits.
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Ford Motor Co. (NYSE: F) -18.6% General Electric (NYSE: GE) -17.9% American Airlines (NASDAQ: AAL) -29.2% Delta Airlines (NYSE: DAL) -26.4% Carnival Corp. (NYSE: CCL) -30% GoPro (NASDAQ: GPRO) -17.8% Source: Robinhood. The bottom line on day trading that all new investors should know I'm not saying that day traders are buying bad stocks. Many of the stocks being traded on Robinhood have the potential to be excellent long-term investments.
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Ford Motor Co. (NYSE: F) -18.6% General Electric (NYSE: GE) -17.9% American Airlines (NASDAQ: AAL) -29.2% Delta Airlines (NYSE: DAL) -26.4% Carnival Corp. (NYSE: CCL) -30% GoPro (NASDAQ: GPRO) -17.8% Source: Robinhood. One of the most notorious new day traders, Barstool Sports founder Dave Portnoy recently said "I'm just printing money...Why take profits when every airline goes up 20% every day? The bottom line on day trading that all new investors should know I'm not saying that day traders are buying bad stocks.
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Ford Motor Co. (NYSE: F) -18.6% General Electric (NYSE: GE) -17.9% American Airlines (NASDAQ: AAL) -29.2% Delta Airlines (NYSE: DAL) -26.4% Carnival Corp. (NYSE: CCL) -30% GoPro (NASDAQ: GPRO) -17.8% Source: Robinhood. The bottom line on day trading that all new investors should know I'm not saying that day traders are buying bad stocks. Many of the stocks being traded on Robinhood have the potential to be excellent long-term investments.
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286d2146-d9f0-4f2f-a5e8-4887df0c6797
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5693.0
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2020-06-12 00:00:00 UTC
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5 Sickly S&P 500 Stocks to Sell or Avoid
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AAL
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https://www.nasdaq.com/articles/5-sickly-sp-500-stocks-to-sell-or-avoid-2020-06-12
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nan
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nan
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The stock market has been remarkably resilient this year amid the pandemic and recession. But the Dow's massive 1,800-point plunge on June 11 should serve as a reminder that equities remain risky.
And some are much riskier than others.
Every investor wants to buy "when there's blood in the streets." The hard part is making sure it's not your blood.
To be sure, there is no shortage of stocks for which a bear case can be made. Some of these stocks could very well be beaten-down bargains. Others, not so much.
To get a sense of where the traps might lie, we searched the S&P 500 for stocks with the lowest average analyst recommendations. Furthermore, because analysts are so reluctant to issue Sell recommendations, we homed in on stocks with a comparatively high number of these bearish calls.
Lastly, we dug into research and fundamentals. After applying our criteria, we found stocks to sell among retailers, consumer staples, energy, financials and even the odd utility. But five names looked particularly risky.
Have a look at these five troubled stocks, which have some of the lowest average analyst ratings in the S&P 500. If you're looking for stocks to sell or avoid, these would be worthy candidates.
SEE ALSO: 50 Top Stock Picks That Billionaires Love
Western Union
Market value: $9.2 billion
Dividend yield: 4.0%
Analysts' opinion: 1 Strong Buy, 0 Buy, 14 Hold, 3 Sell, 4 Strong Sell
Western Union (WU, $22.50) is clawing its way back after the pandemic gutted remittances volume earlier this year, but the money transfer firm's problems go beyond COVID-19.
The recession is troubling enough. But more worrisome is fierce competition in the financial technology industry. Speculation has it that Western Union will make a play for MoneyGram (MGI), but bears say that tie-up wouldn't be sufficient to fight off rivals such as TransferWise, Remitly and Xoom, which is backed by PayPal (PYPL).
Diamond Hill Capital, for one, doubts a merger would move the strategic needle for WU.
"We remain skeptical of the company's ability to deliver sustained, long-term revenue growth given competitive pressures we see in the core money transfer business, namely threats from various digital solutions and new entrants," says Diamond Hill, an investment manager with more than $20 billion in assets under management.
A single analyst rates WU at Strong Buy, while 14 have it at Hold. Most noticeable is that seven analysts have Western Union among their stocks to sell, given how rarely Wall Street issues Sell calls.
SEE ALSO: 14 Bankruptcy Filings Chalked Up to COVID-19
American Airlines
Market value: $6.1 billion
Dividend yield: N/A
Analysts' opinion: 3 Strong Buy, 0 Buy, 7 Hold, 5 Sell, 4 Strong Sell
Investors who are being greedy when others are fearful of airline stocks are making a bold but risky bet. Analysts are particularly concerned about American Airlines (AAL, $14.38), which is burning through $40 million in cash a day - less than the $100 million per day it logged in April, but still worrisome - and looks to have an unsustainable valuation.
American Airlines said in early June that it's planning to fly 55% of its domestic schedule and about 20% of its international schedule in July. That would represent only 40% of its year-over-year system-wide capacity.
AAL stock rallied more than 40% on the news - a price reaction that Credit Suisse described as "confounding."
"We don't believe anyone's view on AAL stock fundamentally changed as a result of any news," says Credit Suisse, which rates the stock at Underperform (Sell). "Let us not lose sight of AAL's ~40B debt load ... that the company will need to dig out of, and our expectation that (earnings per share) will remain negative next year, weighed down by the heavy interest burden."
Just look at expectations for the broader industry. The International Air Transport Association projects airline industry losses of $84.3 billion this year. The trade group expects revenue to drop 50%. IATA predicts another $15.8 billion in losses for the wider industry next year.
Three analysts recommend swinging for the fences, rating AAL at Strong Buy. However, seven say Hold, five call it a Sell and four caution the stock is a Strong Sell.
SEE ALSO: 23 Dividend Cuts and Suspensions Chalked Up to the Coronavirus
Waters Corp.
Market value: $11.2 billion
Dividend yield: N/A
Analysts' opinion: 0 Strong Buy, 0 Buy, 10 Hold, 3 Sell, 4 Strong Sell
Companies in the life sciences, bioproduction and diagnostics industry are struggling as the pandemic impacts everything from clinical trials to routine visits to the doctor. A recession only compounds their troubles.
That's why shares in Waters Corp. (WAT, $181.55), which derives almost half its sales from diagnostic instruments, are off more than 20% year-to-date, yet not a single analyst says they're a bargain at current levels.
That's partly attributable to the fact that management says the worst is still to come.
"Through four weeks of the second quarter, we have seen signs of recovery in China and other parts of Asia and Europe," said CEO Chris O'Connell on a June 12 conference call with analysts. "Though we expect the conditions seen at the end of the first quarter in the U.S., India and some parts of Europe will persist into the second quarter, making the second quarter likely more challenging than the first quarter."
Janney Montgomery Scott, which rates Waters' stock at Neutral, notes that the closure of many academic labs and biopharmaceutical labs continue to be a drag. "WAT is no longer (giving guidance) but a sales decline of at least -21% seems likely in the second quarter," Janney says.
Waters is firmly in the pros' doghouse of stocks to sell. Ten analysts rate it at Hold, three say Sell and four call it a Strong Sell. No one calls it a Buy presently.
SEE ALSO: All 30 Dow Stocks Ranked: The Pros Weigh In
Occidental Petroleum
Market value: $16.0 billion
Dividend yield: 0.2%
Analysts' opinion: 2 Strong Buy, 0 Buy, 17 Hold, 2 Sell, 5 Strong Sell
Occidental Petroleum (OXY, $17.40) is one of the more troubled companies in the oil patch, reeling under a heavy debt load and a feeble market for oil and gas.
Although all exploration and production companies are struggling, OXY stands out for some particularly poor timing. It bought rival shale driller Anadarko Petroleum last year, bringing its debt load to $40 billion. The heavy debt and spiraling oil prices forced OXY to cut its dividend twice and prompted Moody's to downgrade its bonds to junk.
OXY stock soared in early June amid optimism over oil prices -- West Texas Intermediate crude is up about 50% over the past month -- but its precarious financial position makes it too risky for the potential reward, most analysts say.
True, bulls can take heart in Berkshire Hathaway (BRK.B) CEO Warren Buffett. He invested $10 billion in OXY in April 2019 in exchange for 100,000 preferred shares yielding 8%. Berkshire Hathaway also holds 18.9 million shares of Occidental's common stock.
But bears say the stock is far too expensive relative to its peers. Credit Suisse, which rates the stock at Underperform, points to Occidental's "over-levered balance sheet" and a debt "maturity wall that continues to loom."
"OXY faces a rather daunting approximately $12 billion in maturities over 2021 to 2023," CS analysts write.
Two Wall Street pros rate the stock at Strong Buy. Meanwhile, 17 call it a Hold, and seven have OXY among their stocks to sell right now.
SEE ALSO: 10 Facts You Must Know About Recessions
Vornado Realty Trust
Market value: $7.4 billion
Dividend yield: 6.8%
Analysts' opinion: 0 Strong Buy, 2 Buy, 9 Hold, 2 Sell, 2 Strong Sell
It's hard to find analysts who are bullish on commercial real estate these days, as lockdowns and a recession make it hard to collect rent and, by extension, service debt.
The Street is particularly dour when it comes to Vornado Realty Trust (VNO, $38.86). An office real estate investment trust (REIT) with properties primarily in New York City, as well as Chicago and San Francisco, Vornado has seen its stock plunge more than 40% so far this year. Indeed, VNO has declined more than 11% over the past five days alone vs. a drop of about 6% for the S&P 500.
Stifel, which rates VNO at Sell, says Vornado should cut its dividend, as it has problems that will extend beyond COVID-19. Analysts point to the discovery of "numerous work-from-home positives"; the lack of need for full time, dedicated individual office space; and the fact that co-working has been "dealt a severe body blow."
"Much as we would like to be bullish on this property sector, REIT history has shown that the macro perspective outweighs actual fundamentals and earnings," Stifel writes. "Investors will likely wait until actual market fundamentals and Office REIT earnings prove the pundits wrong."
Two analysts rate VNO at Buy. Meanwhile, nine say Hold, two call it a Sell and two have it at Strong Sell, putting it firmly in the camp of the pros' stocks to sell.
SEE ALSO: 20 Best Stocks to Invest In During a Recession
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Analysts are particularly concerned about American Airlines (AAL, $14.38), which is burning through $40 million in cash a day - less than the $100 million per day it logged in April, but still worrisome - and looks to have an unsustainable valuation. AAL stock rallied more than 40% on the news - a price reaction that Credit Suisse described as "confounding." "We don't believe anyone's view on AAL stock fundamentally changed as a result of any news," says Credit Suisse, which rates the stock at Underperform (Sell).
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Analysts are particularly concerned about American Airlines (AAL, $14.38), which is burning through $40 million in cash a day - less than the $100 million per day it logged in April, but still worrisome - and looks to have an unsustainable valuation. AAL stock rallied more than 40% on the news - a price reaction that Credit Suisse described as "confounding." "We don't believe anyone's view on AAL stock fundamentally changed as a result of any news," says Credit Suisse, which rates the stock at Underperform (Sell).
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Analysts are particularly concerned about American Airlines (AAL, $14.38), which is burning through $40 million in cash a day - less than the $100 million per day it logged in April, but still worrisome - and looks to have an unsustainable valuation. AAL stock rallied more than 40% on the news - a price reaction that Credit Suisse described as "confounding." "We don't believe anyone's view on AAL stock fundamentally changed as a result of any news," says Credit Suisse, which rates the stock at Underperform (Sell).
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Analysts are particularly concerned about American Airlines (AAL, $14.38), which is burning through $40 million in cash a day - less than the $100 million per day it logged in April, but still worrisome - and looks to have an unsustainable valuation. AAL stock rallied more than 40% on the news - a price reaction that Credit Suisse described as "confounding." "We don't believe anyone's view on AAL stock fundamentally changed as a result of any news," says Credit Suisse, which rates the stock at Underperform (Sell).
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cc22b59f-0a3c-4a45-80bf-e5c6c2d74c55
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5694.0
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2020-06-12 00:00:00 UTC
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Why Azul, Gol Linhas Aereas, and Grupo Aeroportuario del Pacifico Stocks All Popped 10% Today
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AAL
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https://www.nasdaq.com/articles/why-azul-gol-linhas-aereas-and-grupo-aeroportuario-del-pacifico-stocks-all-popped-10-today
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nan
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nan
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What happened
Good news out of American Airlines (NASDAQ: AAL) this morning sparked a rally in airline stocks throughout U.S. stock markets and beyond.
In afternoon trading, not only did shares of companies such as Delta and United follow American higher, but also shares of Brazilian carriers Gol Linhas Aereas Inteligentes (NYSE: GOL) and Azul (NYSE: AZUL) ended the day with even stronger gains of 11.9% and 19.1%, respectively. Additionally, Mexican airport owner Grupo Aeroportuario del Pacifico (NYSE: PAC) closed up a strong 6.1%, as well.
Image source: Getty Images.
So what
What did American Airlines say that got air travel industry investors excited down south of the border? A few things, actually.
For one, "since the first week of May, [American Airlines'] net bookings have been consistently positive and have shown continued signs of improvement," such that the airline now sees signs "of improving passenger demand although at levels significantly below those experienced in the same period in 2019." Consequently, after cutting its flight capacity as much as 75% through May, American thinks it should be able to support 35% of its ordinary volume of (domestic) flights through the end of this month and reach 55% capacity by July. This would imply carrying perhaps close to 250,000 daily passengers by that point.
Additionally, American says it has made progress slowing its rate of cash burn, which reached $100 million per day in May, to perhaps as little as $40 million per day by the end of this month -- and hopefully, zero by the end of this year.
Now what
Is what's true for American Airlines also going to hold true for Gol and Azul? And does it mean that traffic flying through Aeroportuario del Pacifico's airports will soon pick up?
Perhaps. But I still have my doubts that today's rally in the Brazilian and Mexican shares will hold. After all, while American's domestic travel is picking back up, international flight capacity, says the company, which includes flights connecting through Mexico or Brazil, is still going to be only about 20% of normal this month.
In Gol's latest update, that airline confirmed that it, too, has reduced its cash burn rate -- to 10 million Brazilian reals per day (roughly $2 million). Flight capacity at Gol, however, is also only 20%.
Azul says it's seeing "improvements in the demand environment," but it hasn't provided a recent update on cash burn rates.
What about Grupo Aeroportuario del Pacifico? At last report, total passenger traffic through its terminals remains down anywhere from 81.1% to 99.8%!
All of this suggests that even if there is a recovery afoot in North American air travel, South America hasn't yet turned the corner.
10 stocks we like better than GOL Linhas Aereas Inteligentes
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and GOL Linhas Aereas Inteligentes 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 June 2, 2020
Rich Smith has no position in any of the stocks mentioned. The Motley Fool recommends Grupo Aeroportuario del Pacifico. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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What happened Good news out of American Airlines (NASDAQ: AAL) this morning sparked a rally in airline stocks throughout U.S. stock markets and beyond. Azul says it's seeing "improvements in the demand environment," but it hasn't provided a recent update on cash burn rates. All of this suggests that even if there is a recovery afoot in North American air travel, South America hasn't yet turned the corner.
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What happened Good news out of American Airlines (NASDAQ: AAL) this morning sparked a rally in airline stocks throughout U.S. stock markets and beyond. In afternoon trading, not only did shares of companies such as Delta and United follow American higher, but also shares of Brazilian carriers Gol Linhas Aereas Inteligentes (NYSE: GOL) and Azul (NYSE: AZUL) ended the day with even stronger gains of 11.9% and 19.1%, respectively. Additionally, Mexican airport owner Grupo Aeroportuario del Pacifico (NYSE: PAC) closed up a strong 6.1%, as well.
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What happened Good news out of American Airlines (NASDAQ: AAL) this morning sparked a rally in airline stocks throughout U.S. stock markets and beyond. In afternoon trading, not only did shares of companies such as Delta and United follow American higher, but also shares of Brazilian carriers Gol Linhas Aereas Inteligentes (NYSE: GOL) and Azul (NYSE: AZUL) ended the day with even stronger gains of 11.9% and 19.1%, respectively. For one, "since the first week of May, [American Airlines'] net bookings have been consistently positive and have shown continued signs of improvement," such that the airline now sees signs "of improving passenger demand although at levels significantly below those experienced in the same period in 2019."
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What happened Good news out of American Airlines (NASDAQ: AAL) this morning sparked a rally in airline stocks throughout U.S. stock markets and beyond. In afternoon trading, not only did shares of companies such as Delta and United follow American higher, but also shares of Brazilian carriers Gol Linhas Aereas Inteligentes (NYSE: GOL) and Azul (NYSE: AZUL) ended the day with even stronger gains of 11.9% and 19.1%, respectively. Additionally, Mexican airport owner Grupo Aeroportuario del Pacifico (NYSE: PAC) closed up a strong 6.1%, as well.
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0c9c18ac-d846-44cc-a23b-d28158d751d1
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5695.0
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2020-06-12 00:00:00 UTC
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Stock Market Wrap-Up: Why American, Southwest, and Delta Sent Airline Stocks Flying
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AAL
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https://www.nasdaq.com/articles/stock-market-wrap-up%3A-why-american-southwest-and-delta-sent-airline-stocks-flying-2020-06
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nan
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Market participants regained their confidence in stocks on Friday, leading to modest gains for major market benchmarks. By the end of the day, indexes had clawed back only a fraction of their losses from Thursday, and there's still a lot of nervousness about recent upticks in coronavirus cases in major metropolitan areas like Houston and Phoenix. Nevertheless, investors hope that the worst of the pandemic is over and that economic activity can return to normal conditions. The Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite (NASDAQINDEX: ^IXIC) rose around 1% to 2%.
Today's stock market
INDEX
PERCENTAGE CHANGE
POINT CHANGE
Dow
+1.90%
+477
S&P 500
+1.31%
+39
Nasdaq Composite
+1.01%
+96
Data source: Yahoo! Finance.
Airline stocks have been among the most volatile in the market lately, and several key companies in the sector saw their shares make big moves today. That was especially good news for American Airlines Group (NASDAQ: AAL), Southwest Airlines (NYSE: LUV), and Delta Air Lines (NYSE: DAL), as each of those companies saw their shares fly higher on promising news about their operations.
An end to negative cash flow?
The biggest problem airlines have faced lately is the mismatch between their fixed expenses and their revenue. Dramatic traffic declines have slashed the amount of money airlines have coming in, and refunds and credits on cancelled travel has posed an even larger financial threat.
Image source: American Airlines.
In that light, today's news from American was positive, sending its stock up 16%. Although its revenue for the second quarter could plunge 90% from year-ago levels, American has seen its rate of negative cash flow slow to about $40 million per day. That's not a pretty number, but it's far better than the $100 million per day in cash that American was going through during the month of April. Delta has seen similarly favorable trends in its rate of cash burn as well.
For American, $40 million a day works out to roughly $1.2 billion per month, and with $11 billion in expected liquidity at the end of June, American seems to be on a trend toward ensuring it can survive the current crisis if conditions don't deteriorate. That's something investors are starting to see across the industry, and it bodes well for those counting on a rebound for airline stocks overall.
A vote of confidence for Southwest
Shares of Southwest also participated in the airline rally, rising 9%. The Dallas-based airline got positive comments from stock analysts in the form of an upgrade and higher price target.
Analysts at Credit Suisse increased their rating on Southwest from neutral to outperform and raised their stock price target by $10 per share to $45. The analysts believe that Southwest is well-positioned to benefit from an expected rise in the number of passengers traveling for leisure, and they singled out the company for its ability to sustain a favorable debt rating despite the pressures on the industry.
Unlike Delta and American, Southwest has a relatively small exposure to international travel markets. That's been an advantage, because even as certain parts of the U.S. relax their coronavirus protocols, most foreign countries have been more vigilant about keeping borders closed, especially to the U.S. and other areas with high infection rates.
What to do
It's hard to know whether buying airline stocks right now is the best move. There's sure to be a lot more turbulence in the months ahead, as investors wait to see if travelers return to the skies. As long as hard facts don't dash hopes for a return to more normal conditions, airline stocks have the capacity to keep regaining the ground they lost during the coronavirus bear market.
10 stocks we like better than Southwest Airlines
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Southwest Airlines wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of June 2, 2020
Dan Caplinger 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.
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That was especially good news for American Airlines Group (NASDAQ: AAL), Southwest Airlines (NYSE: LUV), and Delta Air Lines (NYSE: DAL), as each of those companies saw their shares fly higher on promising news about their operations. By the end of the day, indexes had clawed back only a fraction of their losses from Thursday, and there's still a lot of nervousness about recent upticks in coronavirus cases in major metropolitan areas like Houston and Phoenix. The analysts believe that Southwest is well-positioned to benefit from an expected rise in the number of passengers traveling for leisure, and they singled out the company for its ability to sustain a favorable debt rating despite the pressures on the industry.
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That was especially good news for American Airlines Group (NASDAQ: AAL), Southwest Airlines (NYSE: LUV), and Delta Air Lines (NYSE: DAL), as each of those companies saw their shares fly higher on promising news about their operations. As long as hard facts don't dash hopes for a return to more normal conditions, airline stocks have the capacity to keep regaining the ground they lost during the coronavirus bear market. The Motley Fool recommends Delta Air Lines and Southwest Airlines.
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That was especially good news for American Airlines Group (NASDAQ: AAL), Southwest Airlines (NYSE: LUV), and Delta Air Lines (NYSE: DAL), as each of those companies saw their shares fly higher on promising news about their operations. 10 stocks we like better than Southwest Airlines When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Dan Caplinger has no position in any of the stocks mentioned.
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That was especially good news for American Airlines Group (NASDAQ: AAL), Southwest Airlines (NYSE: LUV), and Delta Air Lines (NYSE: DAL), as each of those companies saw their shares fly higher on promising news about their operations. Today's stock market * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Southwest Airlines wasn't one of them!
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6fec2db6-7d4a-44c6-982d-529370d69430
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5696.0
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2020-06-12 00:00:00 UTC
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Wall Street rises after biggest pullback since March
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AAL
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https://www.nasdaq.com/articles/wall-street-rises-after-biggest-pullback-since-march-2020-06-12
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nan
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nan
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By Medha Singh and Devik Jain
June 12 (Reuters) - Wall Street's main indexes rose on Friday, after a steep decline in the previous session, but were still on track for their worst week in nearly three months on fears of a rise in new coronavirus infections and economic worries.
The indexes, however, were well off their session highs and the CBOE volatility index .VIX turned positive to hit its highest level since April 22.
The S&P 500 .SPX rose as much as about 3% earlier in the session.
On Thursday, the tech-heavy Nasdaq .IXIC ended about 5% below its record closing high and the S&P 500 .SPX tumbled nearly 6% in their worst day since mid-March, as the Federal Reserve's indication to a long road to recovery and rising COVID-19 cases in the United States cast a pall over investor bets on a swift economic rebound.
The S&P 500 is now about 10.8% from its record high after being within 5% from that level earlier this week.
"Perhaps the markets have overestimated their fears about the reignition in number of cases," said Todd Jablonski, chief investment officer at Principal Global Asset Allocation in Seattle.
"In the short term you could see some investors, particularly retail investors who have been moving into the equity space pretty aggressively over the last couple of weeks, take some profit."
All the major S&P sectors rose with technology .SPLRCT and financials .SPSY providing the biggest boost to the benchmark index.
Boeing Co BA.N jumped 5.2%, as it looked to end the week 8% lower. United Airlines Holdings Inc UAL.O, American Airlines Group Inc AAL.O, Norwegian Cruise Line Holdings Ltd NCLH.N jumped between 11% and 12.5%, leading gains on the S&P 500 following sharp declines in the previous session.
At 11:32 a.m. ET, the Dow Jones Industrial Average .DJI was up 190.90 points, or 0.76%, at 25,319.07, the S&P 500 .SPX was up 15.50 points, or 0.52%, at 3,017.60. The Nasdaq Composite .IXIC was up 33.59 points, or 0.35%, at 9,526.32.
Photoshop maker Adobe Inc ADBE.O rose 3.1% after posting a better-than-expected quarterly profit, driven by strong demand for its cloud software.
Yoga apparel maker Lululemon Athletica Inc LULU.O fell 5.2% after posting lower-than-expected quarterly results following coronavirus-induced store closures.
Advancing issues outnumbered decliners for a 3.01-to-1 ratio on the NYSE and a 2.21-to-1 ratio on the Nasdaq.
The S&P index recorded one new 52-week high and no new low, while the Nasdaq recorded 15 new highs and four new lows.
(Reporting by Medha Singh and Devik Jain in Bengaluru; Editing by Saumyadeb Chakrabarty, Uttaresh.V and Shounak Dasgupta)
((Medha.Singh@thomsonreuters.com; within U.S. +1646 223 8780, outside U.S. +91 80 6749 1130; Twitter: https://twitter.com/medhasinghs))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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United Airlines Holdings Inc UAL.O, American Airlines Group Inc AAL.O, Norwegian Cruise Line Holdings Ltd NCLH.N jumped between 11% and 12.5%, leading gains on the S&P 500 following sharp declines in the previous session. By Medha Singh and Devik Jain June 12 (Reuters) - Wall Street's main indexes rose on Friday, after a steep decline in the previous session, but were still on track for their worst week in nearly three months on fears of a rise in new coronavirus infections and economic worries. On Thursday, the tech-heavy Nasdaq .IXIC ended about 5% below its record closing high and the S&P 500 .SPX tumbled nearly 6% in their worst day since mid-March, as the Federal Reserve's indication to a long road to recovery and rising COVID-19 cases in the United States cast a pall over investor bets on a swift economic rebound.
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United Airlines Holdings Inc UAL.O, American Airlines Group Inc AAL.O, Norwegian Cruise Line Holdings Ltd NCLH.N jumped between 11% and 12.5%, leading gains on the S&P 500 following sharp declines in the previous session. By Medha Singh and Devik Jain June 12 (Reuters) - Wall Street's main indexes rose on Friday, after a steep decline in the previous session, but were still on track for their worst week in nearly three months on fears of a rise in new coronavirus infections and economic worries. The S&P index recorded one new 52-week high and no new low, while the Nasdaq recorded 15 new highs and four new lows.
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United Airlines Holdings Inc UAL.O, American Airlines Group Inc AAL.O, Norwegian Cruise Line Holdings Ltd NCLH.N jumped between 11% and 12.5%, leading gains on the S&P 500 following sharp declines in the previous session. By Medha Singh and Devik Jain June 12 (Reuters) - Wall Street's main indexes rose on Friday, after a steep decline in the previous session, but were still on track for their worst week in nearly three months on fears of a rise in new coronavirus infections and economic worries. On Thursday, the tech-heavy Nasdaq .IXIC ended about 5% below its record closing high and the S&P 500 .SPX tumbled nearly 6% in their worst day since mid-March, as the Federal Reserve's indication to a long road to recovery and rising COVID-19 cases in the United States cast a pall over investor bets on a swift economic rebound.
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United Airlines Holdings Inc UAL.O, American Airlines Group Inc AAL.O, Norwegian Cruise Line Holdings Ltd NCLH.N jumped between 11% and 12.5%, leading gains on the S&P 500 following sharp declines in the previous session. By Medha Singh and Devik Jain June 12 (Reuters) - Wall Street's main indexes rose on Friday, after a steep decline in the previous session, but were still on track for their worst week in nearly three months on fears of a rise in new coronavirus infections and economic worries. The S&P 500 is now about 10.8% from its record high after being within 5% from that level earlier this week.
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349bcd56-b175-454a-9065-42f5c6b7b30e
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5697.0
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2020-06-12 00:00:00 UTC
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Wall Street rises after biggest pullback since March
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AAL
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https://www.nasdaq.com/articles/wall-street-rises-after-biggest-pullback-since-march-2020-06-12-0
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nan
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nan
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By Medha Singh and Devik Jain
June 12 (Reuters) - Wall Street's main indexes rose on Friday, as bargain hunters returned after a punishing session a day earlier, but the indexes were still on track for their worst week in nearly three months on fears over new coronavirus cases and economic worries.
The S&P 500 .SPX tumbled nearly 6% on Thursday and the three main indexes recorded their worst day since mid-March, as the Federal Reserve's indication of a long road to recovery and rising COVID-19 cases in the United States cast a pall over investor bets on a swift economic rebound.
Earlier this week, the tech-heavy Nasdaq .IXIC confirmed it had been in a bull market since March 23 and the S&P 500 briefly tuned positive on the year.
"We have a little relief pop because maybe it was a bit overdone yesterday," said Dennis Dick, proprietary trader at Bright Trading LLC in Las Vegas.
The S&P 500 .SPX was up 0.8% after rising as much as about 3% earlier in the session, as the benchmark index once again flirted with its 200-day moving average, a closely-watched technical indicator.
The CBOE volatility index .VIX turned positive to hit its highest level since April 22.
"The volatility is extremely high and there's an enormous amount of uncertainty," said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas.
"No one really knows whether the sell off yesterday was all of it, or whether there's more to come. You have people positioning in and out, trying to either avoid another downturn or take advantage of the fact that they maybe don't think there will be one."
At 1:09 p.m. ET, the Dow Jones Industrial Average .DJI was up 291.31 points, or 1.16%, at 25,419.48, the S&P 500 .SPX was up 22.79 points, or 0.76%, at 3,024.89. The Nasdaq Composite .IXIC was up 57.02 points, or 0.60%, at 9,549.75.
All the major S&P sectors rose with technology .SPLRCT and financials .SPSY providing the biggest boost to the benchmark index.
Boeing Co BA.N jumped 8%, but looked to end the week 8% lower. United Airlines Holdings Inc UAL.O, American Airlines Group Inc AAL.O, Norwegian Cruise Line Holdings Ltd NCLH.N jumped between 14.0% and 14.8%, leading gains on the S&P 500 following sharp declines in the previous session.
Photoshop maker Adobe Inc ADBE.O rose 4% after posting a better-than-expected quarterly profit, driven by strong demand for its cloud software.
Yoga apparel maker Lululemon Athletica Inc LULU.O fell 4.7% after posting lower-than-expected quarterly results following coronavirus-induced store closures.
Advancing issues outnumbered decliners for a 3.61-to-1 ratio on the NYSE and a 2.63-to-1 ratio on the Nasdaq.
The S&P index recorded one new 52-week high and no new low, while the Nasdaq recorded 17 new highs and four new lows.
(Reporting by Medha Singh and Devik Jain in Bengaluru, additional reporting by Terence Gabriel in New York and Pawel Goraj in Gdansk; Editing by Saumyadeb Chakrabarty, Uttaresh.V and Shounak Dasgupta)
((Medha.Singh@thomsonreuters.com; within U.S. +1646 223 8780, outside U.S. +91 80 6749 1130; Twitter: https://twitter.com/medhasinghs))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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United Airlines Holdings Inc UAL.O, American Airlines Group Inc AAL.O, Norwegian Cruise Line Holdings Ltd NCLH.N jumped between 14.0% and 14.8%, leading gains on the S&P 500 following sharp declines in the previous session. The S&P 500 .SPX tumbled nearly 6% on Thursday and the three main indexes recorded their worst day since mid-March, as the Federal Reserve's indication of a long road to recovery and rising COVID-19 cases in the United States cast a pall over investor bets on a swift economic rebound. "We have a little relief pop because maybe it was a bit overdone yesterday," said Dennis Dick, proprietary trader at Bright Trading LLC in Las Vegas.
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United Airlines Holdings Inc UAL.O, American Airlines Group Inc AAL.O, Norwegian Cruise Line Holdings Ltd NCLH.N jumped between 14.0% and 14.8%, leading gains on the S&P 500 following sharp declines in the previous session. The S&P 500 .SPX tumbled nearly 6% on Thursday and the three main indexes recorded their worst day since mid-March, as the Federal Reserve's indication of a long road to recovery and rising COVID-19 cases in the United States cast a pall over investor bets on a swift economic rebound. The S&P index recorded one new 52-week high and no new low, while the Nasdaq recorded 17 new highs and four new lows.
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United Airlines Holdings Inc UAL.O, American Airlines Group Inc AAL.O, Norwegian Cruise Line Holdings Ltd NCLH.N jumped between 14.0% and 14.8%, leading gains on the S&P 500 following sharp declines in the previous session. By Medha Singh and Devik Jain June 12 (Reuters) - Wall Street's main indexes rose on Friday, as bargain hunters returned after a punishing session a day earlier, but the indexes were still on track for their worst week in nearly three months on fears over new coronavirus cases and economic worries. The S&P 500 .SPX tumbled nearly 6% on Thursday and the three main indexes recorded their worst day since mid-March, as the Federal Reserve's indication of a long road to recovery and rising COVID-19 cases in the United States cast a pall over investor bets on a swift economic rebound.
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United Airlines Holdings Inc UAL.O, American Airlines Group Inc AAL.O, Norwegian Cruise Line Holdings Ltd NCLH.N jumped between 14.0% and 14.8%, leading gains on the S&P 500 following sharp declines in the previous session. The S&P 500 .SPX tumbled nearly 6% on Thursday and the three main indexes recorded their worst day since mid-March, as the Federal Reserve's indication of a long road to recovery and rising COVID-19 cases in the United States cast a pall over investor bets on a swift economic rebound. The S&P 500 .SPX was up 0.8% after rising as much as about 3% earlier in the session, as the benchmark index once again flirted with its 200-day moving average, a closely-watched technical indicator.
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7bdd56ec-c22f-4e58-942d-f4f43401c72c
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5698.0
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2020-06-12 00:00:00 UTC
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Robinhood users' favorite stocks roar back after selloffa
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AAL
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https://www.nasdaq.com/articles/robinhood-users-favorite-stocks-roar-back-after-selloffa-2020-06-12
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nan
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nan
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By John McCrank and David Randall
NEW YORK, June 12 (Reuters) - Shares of airlines, cruise lines and other companies that have been popular with investors on the Robinhood trading app shot higher on Friday, a day after stocks suffered their worst one-day market rout in about three months.
American Airlines Group Inc AAL.O and Delta Air Lines Inc DAL.N were up about 16% and 10% respectively, Carnival Corp CCL.N was up nearly 12%, and Norwegian Cruise Line Holdings Ltd NCLH.N, gained 14%. All are listed among the top 11 most-traded names on Robinhood, whose users some have tied to outsize moves in certain stocks recently.
The bounce was part of a broader equity rebound: The S&P 500 .SPX was recently up around 1.7%, after notching its worst loss since March the day before.
Retail investors have grabbed the spotlight in recent months, as markets have rallied in the middle of the coronavirus pandemic.
Some traders and analysts have attributed rallies of between 300% and 500% in stocks of bankrupt or soon-to-be-bankrupt companies such as Hertz HTZ.N, Chesapeake CHK.N, Whiting WLL.N and JC Penney last week to individual investors. The unpredictable moves have left some professionals avoiding the stocks of companies popular on Robinhood.
Mark Travis, a portfolio manager at Intrepid Capital, has stayed away from airlines and other stocks that appear to have drawn retail buyers.
"With no sports right now, people have turned to day trading as their new sport," he said. "There's a lot of speculation in the market now."
Others, however, have doubts whether retail investors have been a major force in a rally that has seen the S&P 500 climb around 40% from March lows.
An analysis by Barclays comparing Robinhood customer holdings to daily returns for S&P 500 constituents found that "all else equal, more Robinhood customers moving into a stock has corresponded to lower returns, rather than higher," the bank said in a recent note.
(Reporting by John McCrank and David Randall; Editing by Ira Iosebashvili and Jonathan Oatis)
((john.mccrank@thomsonreuters.com Twitter @jmccrank; 1 646 223-6643; Reuters Messaging: john.mccrank.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group Inc AAL.O and Delta Air Lines Inc DAL.N were up about 16% and 10% respectively, Carnival Corp CCL.N was up nearly 12%, and Norwegian Cruise Line Holdings Ltd NCLH.N, gained 14%. By John McCrank and David Randall NEW YORK, June 12 (Reuters) - Shares of airlines, cruise lines and other companies that have been popular with investors on the Robinhood trading app shot higher on Friday, a day after stocks suffered their worst one-day market rout in about three months. Some traders and analysts have attributed rallies of between 300% and 500% in stocks of bankrupt or soon-to-be-bankrupt companies such as Hertz HTZ.N, Chesapeake CHK.N, Whiting WLL.N and JC Penney last week to individual investors.
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American Airlines Group Inc AAL.O and Delta Air Lines Inc DAL.N were up about 16% and 10% respectively, Carnival Corp CCL.N was up nearly 12%, and Norwegian Cruise Line Holdings Ltd NCLH.N, gained 14%. By John McCrank and David Randall NEW YORK, June 12 (Reuters) - Shares of airlines, cruise lines and other companies that have been popular with investors on the Robinhood trading app shot higher on Friday, a day after stocks suffered their worst one-day market rout in about three months. (Reporting by John McCrank and David Randall; Editing by Ira Iosebashvili and Jonathan Oatis) ((john.mccrank@thomsonreuters.com Twitter @jmccrank; 1 646 223-6643; Reuters Messaging: john.mccrank.thomsonreuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group Inc AAL.O and Delta Air Lines Inc DAL.N were up about 16% and 10% respectively, Carnival Corp CCL.N was up nearly 12%, and Norwegian Cruise Line Holdings Ltd NCLH.N, gained 14%. By John McCrank and David Randall NEW YORK, June 12 (Reuters) - Shares of airlines, cruise lines and other companies that have been popular with investors on the Robinhood trading app shot higher on Friday, a day after stocks suffered their worst one-day market rout in about three months. Retail investors have grabbed the spotlight in recent months, as markets have rallied in the middle of the coronavirus pandemic.
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American Airlines Group Inc AAL.O and Delta Air Lines Inc DAL.N were up about 16% and 10% respectively, Carnival Corp CCL.N was up nearly 12%, and Norwegian Cruise Line Holdings Ltd NCLH.N, gained 14%. By John McCrank and David Randall NEW YORK, June 12 (Reuters) - Shares of airlines, cruise lines and other companies that have been popular with investors on the Robinhood trading app shot higher on Friday, a day after stocks suffered their worst one-day market rout in about three months. Retail investors have grabbed the spotlight in recent months, as markets have rallied in the middle of the coronavirus pandemic.
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669ed804-5401-4f75-97fd-e99e8e5a6f40
|
5699.0
|
2020-06-12 00:00:00 UTC
|
BUZZ-U.S. STOCKS ON THE MOVE-Party City, Centene Corp, Hertz Global
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AAL
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-party-city-centene-corp-hertz-global-2020-06-12
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nan
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nan
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Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's main indexes rose on Friday, after a steep decline in the previous session, but were still on track for their worst week in nearly three months on fears of a rise in new coronavirus infections and economic worries. .N
At 11:30 ET, the Dow Jones Industrial Average .DJI was up 1.66% at 25,544.83. The S&P 500 .SPX was up 1.34% at 3,042.23 and the Nasdaq Composite .IXIC was up 1.13% at 9,599.619. The top three S&P 500 .PG.INX percentage gainers: ** American Airlines Group , up 14.5% ** United Airlines Holdings , up 13.4% ** Norwegian Cruise Line Holdings , up 12.6% The top three S&P 500 .PL.INX percentage losers: ** PVH Corp , down 7.8% ** Oneok Inc , down 5.4% ** Dominos Pizza Inc , down 2.4% The top three NYSE .PG.N percentage gainers: ** China Rapid Finance Ltd , up 55.8 % ** Hertz Global Holding , up 37.4 % ** Aerocentury Corp , up 26.8 % The top three NYSE .PL.N percentage losers: ** Planet Green Holdings Corp , down 13.7% ** Pfenex Inc , down 10.2% ** PVH Corp , down 9.1% The top three Nasdaq .PG.O percentage gainers: ** Immuron Ltd , up 187.1% ** China Natural Resources , up 183% ** Ever-Glory International Group , up 175.9% The top three Nasdaq .PL.O percentage losers: ** Wins Fin Hold In , down 30.6 % ** Wah Fu Education Group , down 30.1 % ** Bel Fuse Inc BELFA.O, down 22.9% ** Tesla Inc TSLA.O: down 2.7%
BUZZ-Morgan Stanley says valuation not pricing in certain risks, cuts to "underweight" ** Snap Inc SNAP.N: up 1.3%
BUZZ-Gains as J.P. Morgan raises PT ** ConocoPhillips COP.N: up 2.6%
BUZZ-Jefferies reinstates with "buy" on resilient business model ** Southwest Airlines LUV.N: up 7.1%
BUZZ-CS says co positioned for strategic long-term gains ** Oracle Corp ORCL.N: up 1.5%
BUZZ-Up as RBC raises PT on FY20 profit estimates ** EMagin Corp EMAN.A: up 69.5%
BUZZ-Soars on $5.5 mln Department of Defense award ** Adobe Inc ADBE.O: up 3.9%
BUZZ-Street View: Adobe remains well-positioned for long-term financial goals ** ONEOK Inc OKE.N: down 5.4%
BUZZ-ONEOK down as co pays heavy price to raise equity
** Fuelcell Energy FCEL.O: up 13.3%
BUZZ-Jumps as revenue doubles, driven by generation business ** Grubhub GRUB.N: down 0.4%
BUZZ-Benchmark cuts to 'hold' on limited medium-term upside ** Qualcomm Inc QCOM.O: up 1.9%
BUZZ-Up as Susquehanna raises PT on radio frequency unit's prospects ** Centene corp CNC.N: up 3.3%
BUZZ-Rises after hiking full-year profit forecast ** Dick's Sporting Goods DKS.N: up 7.5%
BUZZ-Jumps as co resumes paying dividend ** Goldman Sachs Group Inc GS.N: up 3.0% ** PMorgan Chase & Co JPM.N: up 1.8%
BUZZ-U.S. big banks gain as risk sentiment improves ** Party City Holdco Inc PRTY.N: up 23.0%
BUZZ-Jumps on store openings, steps to navigate COVID-19 impact ** General Motors Co GM.N: up 4.0% ** Ford Motor Co F.N: up 5.5%
BUZZ-Goldman Sachs raises outlook for 2020 global auto sales ** Hertz Global Holdings HTZ.N: up 37.4%
BUZZ-Accelerates on plans to sell up to $1 bln in shares ** Sempra Energy SRE.N: up 0.5%
BUZZ-Gains as BofA upgrades on attractive value, EPS upside
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 0.87%
Consumer Discretionary
.SPLRCD
up 0.57%
Consumer Staples
.SPLRCS
up 0.49%
Energy
.SPNY
up 2.07%
Financial
.SPSY
up 2.20%
Health
.SPXHC
up 1.10%
Industrial
.SPLRCI
up 1.80%
Information Technology
.SPLRCT
up 1.59%
Materials
.SPLRCM
up 2.16%
Real Estate
.SPLRCR
up 1.77%
Utilities
.SPLRCU
up 0.24%
(Compiled by Shivani Kumaresan in Bengaluru)
((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes rose on Friday, after a steep decline in the previous session, but were still on track for their worst week in nearly three months on fears of a rise in new coronavirus infections and economic worries. The top three S&P 500 .PG.INX percentage gainers: ** American Airlines Group , up 14.5% ** United Airlines Holdings , up 13.4% ** Norwegian Cruise Line Holdings , up 12.6% The top three S&P 500 .PL.INX percentage losers: ** PVH Corp , down 7.8% ** Oneok Inc , down 5.4% ** Dominos Pizza Inc , down 2.4% The top three NYSE .PG.N percentage gainers: ** China Rapid Finance Ltd , up 55.8 % ** Hertz Global Holding , up 37.4 % ** Aerocentury Corp , up 26.8 % The top three NYSE .PL.N percentage losers: ** Planet Green Holdings Corp , down 13.7% ** Pfenex Inc , down 10.2% ** PVH Corp , down 9.1% The top three Nasdaq .PG.O percentage gainers: ** Immuron Ltd , up 187.1% ** China Natural Resources , up 183% ** Ever-Glory International Group , up 175.9% The top three Nasdaq .PL.O percentage losers: ** Wins Fin Hold In , down 30.6 % ** Wah Fu Education Group , down 30.1 % ** Bel Fuse Inc BELFA.O, down 22.9% ** Tesla Inc TSLA.O: down 2.7% BUZZ-Morgan Stanley says valuation not pricing in certain risks, cuts to "underweight" ** Snap Inc SNAP.N: up 1.3% BUZZ-Gains as J.P. Morgan raises PT ** ConocoPhillips COP.N: up 2.6% BUZZ-Jefferies reinstates with "buy" on resilient business model ** Southwest Airlines LUV.N: up 7.1% BUZZ-CS says co positioned for strategic long-term gains ** Oracle Corp ORCL.N: up 1.5% BUZZ-Up as RBC raises PT on FY20 profit estimates ** EMagin Corp EMAN.A: up 69.5% BUZZ-Soars on $5.5 mln Department of Defense award ** Adobe Inc ADBE.O: up 3.9% BUZZ-Street View: Adobe remains well-positioned for long-term financial goals ** ONEOK Inc OKE.N: down 5.4% BUZZ-ONEOK down as co pays heavy price to raise equity ** Fuelcell Energy FCEL.O: up 13.3% BUZZ-Jumps as revenue doubles, driven by generation business ** Grubhub GRUB.N: down 0.4% BUZZ-Benchmark cuts to 'hold' on limited medium-term upside ** Qualcomm Inc QCOM.O: up 1.9% BUZZ-Up as Susquehanna raises PT on radio frequency unit's prospects ** Centene corp CNC.N: up 3.3% BUZZ-Rises after hiking full-year profit forecast ** Dick's Sporting Goods DKS.N: up 7.5% BUZZ-Jumps as co resumes paying dividend ** Goldman Sachs Group Inc GS.N: up 3.0% ** PMorgan Chase & Co JPM.N: up 1.8% BUZZ-U.S. big banks gain as risk sentiment improves ** Party City Holdco Inc PRTY.N: up 23.0% BUZZ-Jumps on store openings, steps to navigate COVID-19 impact ** General Motors Co GM.N: up 4.0% ** Ford Motor Co F.N: up 5.5% BUZZ-Goldman Sachs raises outlook for 2020 global auto sales ** Hertz Global Holdings HTZ.N: up 37.4% BUZZ-Accelerates on plans to sell up to $1 bln in shares ** Sempra Energy SRE.N: up 0.5% BUZZ-Gains as BofA upgrades on attractive value, EPS upside The 11 major S&P 500 sectors: Communication Services up 0.24% (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes rose on Friday, after a steep decline in the previous session, but were still on track for their worst week in nearly three months on fears of a rise in new coronavirus infections and economic worries. The top three S&P 500 .PG.INX percentage gainers: ** American Airlines Group , up 14.5% ** United Airlines Holdings , up 13.4% ** Norwegian Cruise Line Holdings , up 12.6% The top three S&P 500 .PL.INX percentage losers: ** PVH Corp , down 7.8% ** Oneok Inc , down 5.4% ** Dominos Pizza Inc , down 2.4% The top three NYSE .PG.N percentage gainers: ** China Rapid Finance Ltd , up 55.8 % ** Hertz Global Holding , up 37.4 % ** Aerocentury Corp , up 26.8 % The top three NYSE .PL.N percentage losers: ** Planet Green Holdings Corp , down 13.7% ** Pfenex Inc , down 10.2% ** PVH Corp , down 9.1% The top three Nasdaq .PG.O percentage gainers: ** Immuron Ltd , up 187.1% ** China Natural Resources , up 183% ** Ever-Glory International Group , up 175.9% The top three Nasdaq .PL.O percentage losers: ** Wins Fin Hold In , down 30.6 % ** Wah Fu Education Group , down 30.1 % ** Bel Fuse Inc BELFA.O, down 22.9% ** Tesla Inc TSLA.O: down 2.7% BUZZ-Morgan Stanley says valuation not pricing in certain risks, cuts to "underweight" ** Snap Inc SNAP.N: up 1.3% BUZZ-Gains as J.P. Morgan raises PT ** ConocoPhillips COP.N: up 2.6% BUZZ-Jefferies reinstates with "buy" on resilient business model ** Southwest Airlines LUV.N: up 7.1% BUZZ-CS says co positioned for strategic long-term gains ** Oracle Corp ORCL.N: up 1.5% BUZZ-Up as RBC raises PT on FY20 profit estimates ** EMagin Corp EMAN.A: up 69.5% BUZZ-Soars on $5.5 mln Department of Defense award ** Adobe Inc ADBE.O: up 3.9% BUZZ-Street View: Adobe remains well-positioned for long-term financial goals ** ONEOK Inc OKE.N: down 5.4% BUZZ-ONEOK down as co pays heavy price to raise equity ** Fuelcell Energy FCEL.O: up 13.3% BUZZ-Jumps as revenue doubles, driven by generation business ** Grubhub GRUB.N: down 0.4% BUZZ-Benchmark cuts to 'hold' on limited medium-term upside ** Qualcomm Inc QCOM.O: up 1.9% BUZZ-Up as Susquehanna raises PT on radio frequency unit's prospects ** Centene corp CNC.N: up 3.3% BUZZ-Rises after hiking full-year profit forecast ** Dick's Sporting Goods DKS.N: up 7.5% BUZZ-Jumps as co resumes paying dividend ** Goldman Sachs Group Inc GS.N: up 3.0% ** PMorgan Chase & Co JPM.N: up 1.8% BUZZ-U.S. big banks gain as risk sentiment improves ** Party City Holdco Inc PRTY.N: up 23.0% BUZZ-Jumps on store openings, steps to navigate COVID-19 impact ** General Motors Co GM.N: up 4.0% ** Ford Motor Co F.N: up 5.5% BUZZ-Goldman Sachs raises outlook for 2020 global auto sales ** Hertz Global Holdings HTZ.N: up 37.4% BUZZ-Accelerates on plans to sell up to $1 bln in shares ** Sempra Energy SRE.N: up 0.5% BUZZ-Gains as BofA upgrades on attractive value, EPS upside The 11 major S&P 500 sectors: Communication Services up 0.24% (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes rose on Friday, after a steep decline in the previous session, but were still on track for their worst week in nearly three months on fears of a rise in new coronavirus infections and economic worries. .N At 11:30 ET, the Dow Jones Industrial Average .DJI was up 1.66% at 25,544.83. The top three S&P 500 .PG.INX percentage gainers: ** American Airlines Group , up 14.5% ** United Airlines Holdings , up 13.4% ** Norwegian Cruise Line Holdings , up 12.6% The top three S&P 500 .PL.INX percentage losers: ** PVH Corp , down 7.8% ** Oneok Inc , down 5.4% ** Dominos Pizza Inc , down 2.4% The top three NYSE .PG.N percentage gainers: ** China Rapid Finance Ltd , up 55.8 % ** Hertz Global Holding , up 37.4 % ** Aerocentury Corp , up 26.8 % The top three NYSE .PL.N percentage losers: ** Planet Green Holdings Corp , down 13.7% ** Pfenex Inc , down 10.2% ** PVH Corp , down 9.1% The top three Nasdaq .PG.O percentage gainers: ** Immuron Ltd , up 187.1% ** China Natural Resources , up 183% ** Ever-Glory International Group , up 175.9% The top three Nasdaq .PL.O percentage losers: ** Wins Fin Hold In , down 30.6 % ** Wah Fu Education Group , down 30.1 % ** Bel Fuse Inc BELFA.O, down 22.9% ** Tesla Inc TSLA.O: down 2.7% BUZZ-Morgan Stanley says valuation not pricing in certain risks, cuts to "underweight" ** Snap Inc SNAP.N: up 1.3% BUZZ-Gains as J.P. Morgan raises PT ** ConocoPhillips COP.N: up 2.6% BUZZ-Jefferies reinstates with "buy" on resilient business model ** Southwest Airlines LUV.N: up 7.1% BUZZ-CS says co positioned for strategic long-term gains ** Oracle Corp ORCL.N: up 1.5% BUZZ-Up as RBC raises PT on FY20 profit estimates ** EMagin Corp EMAN.A: up 69.5% BUZZ-Soars on $5.5 mln Department of Defense award ** Adobe Inc ADBE.O: up 3.9% BUZZ-Street View: Adobe remains well-positioned for long-term financial goals ** ONEOK Inc OKE.N: down 5.4% BUZZ-ONEOK down as co pays heavy price to raise equity ** Fuelcell Energy FCEL.O: up 13.3% BUZZ-Jumps as revenue doubles, driven by generation business ** Grubhub GRUB.N: down 0.4% BUZZ-Benchmark cuts to 'hold' on limited medium-term upside ** Qualcomm Inc QCOM.O: up 1.9% BUZZ-Up as Susquehanna raises PT on radio frequency unit's prospects ** Centene corp CNC.N: up 3.3% BUZZ-Rises after hiking full-year profit forecast ** Dick's Sporting Goods DKS.N: up 7.5% BUZZ-Jumps as co resumes paying dividend ** Goldman Sachs Group Inc GS.N: up 3.0% ** PMorgan Chase & Co JPM.N: up 1.8% BUZZ-U.S. big banks gain as risk sentiment improves ** Party City Holdco Inc PRTY.N: up 23.0% BUZZ-Jumps on store openings, steps to navigate COVID-19 impact ** General Motors Co GM.N: up 4.0% ** Ford Motor Co F.N: up 5.5% BUZZ-Goldman Sachs raises outlook for 2020 global auto sales ** Hertz Global Holdings HTZ.N: up 37.4% BUZZ-Accelerates on plans to sell up to $1 bln in shares ** Sempra Energy SRE.N: up 0.5% BUZZ-Gains as BofA upgrades on attractive value, EPS upside The 11 major S&P 500 sectors: Communication Services
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Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes rose on Friday, after a steep decline in the previous session, but were still on track for their worst week in nearly three months on fears of a rise in new coronavirus infections and economic worries. .N At 11:30 ET, the Dow Jones Industrial Average .DJI was up 1.66% at 25,544.83. The S&P 500 .SPX was up 1.34% at 3,042.23 and the Nasdaq Composite .IXIC was up 1.13% at 9,599.619.
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a7f2faa5-bec3-48ae-b96c-541cc9313a7a
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