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5700.0
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2020-06-12 00:00:00 UTC
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Friday Sector Leaders: Aerospace & Defense, Airlines
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AAL
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https://www.nasdaq.com/articles/friday-sector-leaders%3A-aerospace-defense-airlines-2020-06-12
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nan
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nan
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In trading on Friday, aerospace & defense shares were relative leaders, up on the day by about 5.5%. Leading the group were shares of Triumph Group, up about 13.7% and shares of AAR up about 12.4% on the day.
Also showing relative strength are airlines shares, up on the day by about 5.2% as a group, led by American Airlines Group, trading higher by about 13.1% and United Airlines Holdings, trading up by about 12.4% on Friday.
VIDEO: Friday Sector Leaders: Aerospace & Defense, Airlines
The views and 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 trading on Friday, aerospace & defense shares were relative leaders, up on the day by about 5.5%. Also showing relative strength are airlines shares, up on the day by about 5.2% as a group, led by American Airlines Group, trading higher by about 13.1% and United Airlines Holdings, trading up by about 12.4% on Friday. VIDEO: Friday Sector Leaders: Aerospace & Defense, Airlines The views and 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 trading on Friday, aerospace & defense shares were relative leaders, up on the day by about 5.5%. Also showing relative strength are airlines shares, up on the day by about 5.2% as a group, led by American Airlines Group, trading higher by about 13.1% and United Airlines Holdings, trading up by about 12.4% on Friday. VIDEO: Friday Sector Leaders: Aerospace & Defense, Airlines The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Leading the group were shares of Triumph Group, up about 13.7% and shares of AAR up about 12.4% on the day. Also showing relative strength are airlines shares, up on the day by about 5.2% as a group, led by American Airlines Group, trading higher by about 13.1% and United Airlines Holdings, trading up by about 12.4% on Friday. VIDEO: Friday Sector Leaders: Aerospace & Defense, Airlines The views and 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 trading on Friday, aerospace & defense shares were relative leaders, up on the day by about 5.5%. Leading the group were shares of Triumph Group, up about 13.7% and shares of AAR up about 12.4% on the day. Also showing relative strength are airlines shares, up on the day by about 5.2% as a group, led by American Airlines Group, trading higher by about 13.1% and United Airlines Holdings, trading up by about 12.4% on Friday.
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6f748233-2669-4e52-b170-b479eadf94ad
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5701.0
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2020-06-12 00:00:00 UTC
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Why Boeing, Spirit AeroSystems, and Triumph Group Stocks All Popped This Morning
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AAL
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https://www.nasdaq.com/articles/why-boeing-spirit-aerosystems-and-triumph-group-stocks-all-popped-this-morning-2020-06-12
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nan
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nan
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What happened
After an epic sell-off Thursday, stocks came roaring back to notch big gains Friday morning. Blue chip aerospace stock Boeing (NYSE: BA), which tumbled 16.5% on Thursday, is helping lead the charge back this morning, rising 10.25% through 10:25 a.m. EDT.
Riding its coattails are two of its biggest suppliers, Spirit AeroSystems Holdings (NYSE: SPR) and Triumph Group (NYSE: TGI), up 7% and 17.5%, respectively.
But is this rally for real or merely a dead cat bounce?
Airplane supplier stocks are flying high today. Image source: Getty Images.
So what
Spirit threw investors into a panic on Thursday when it announced that key customer Boeing had instructed it to stop work on component sets for as many as 20 Boeing 737 MAX planes. Unless Boeing changes its mind, the delay in manufacturing of these crucial 737 parts could imperil as much as 16% of Spirit's revenue this year. The news also suggests that demand for the 737 in the midst of a recession isn't quite as robust as hoped.
That situation hasn't changed in a day. What has changed, and what may be encouraging investors today, are three things:
First, Spirit AeroSystems was allocated $80 million in funding by the Defense Department to shore up its ability to keep manufacturing warplanes for the Pentagon, reports TheFly.com. This won't entirely offset the delay of the MAX orders from Boeing, but it should help.
Second, Triumph Group has filed notice with the Securities and Exchange Commission of its intention to raise $600 million in new capital through stock and debt issuances, boosting its own liquidity and ability to withstand a sales slump.
And third, American Airlines Group (NASDAQ: AAL) just announced that it is ahead of schedule on reducing its cash burn, which has declined from $100 million a day in April, to a projected $40 million per day by the end of this month. And the airline says it is on track to completely end cash burn by the end of this year.
Now what
If American's news is a harbinger of improvements by other carriers, then a healthier airline industry would appear to be great news further up the supply chain for Boeing, Spirit AeroSystems, and Triumph Group.
But part of the reason American Airlines says it's been able to cut its cash burn is because it has "removed more than $13.5 billion from its operating and capital budgets for 2020." So it would appear that American's financial improvement will depend in large part on the airline buying fewer airplanes from Boeing (which relies on selling commercial jets for 42% of annual revenue).
American's improvement will also depend on spending less on airplane maintenance. And 24% of Boeing's revenue comes from providing maintenance and other global services, which is its most profitable business segment, S&P Global Market Intelligence reports.
So although healthier airlines should be good news for Boeing and its suppliers, the devil could be in the details.
10 stocks we like better than Boeing
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 Boeing 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 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.
|
And third, American Airlines Group (NASDAQ: AAL) just announced that it is ahead of schedule on reducing its cash burn, which has declined from $100 million a day in April, to a projected $40 million per day by the end of this month. What has changed, and what may be encouraging investors today, are three things: First, Spirit AeroSystems was allocated $80 million in funding by the Defense Department to shore up its ability to keep manufacturing warplanes for the Pentagon, reports TheFly.com. Second, Triumph Group has filed notice with the Securities and Exchange Commission of its intention to raise $600 million in new capital through stock and debt issuances, boosting its own liquidity and ability to withstand a sales slump.
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And third, American Airlines Group (NASDAQ: AAL) just announced that it is ahead of schedule on reducing its cash burn, which has declined from $100 million a day in April, to a projected $40 million per day by the end of this month. Riding its coattails are two of its biggest suppliers, Spirit AeroSystems Holdings (NYSE: SPR) and Triumph Group (NYSE: TGI), up 7% and 17.5%, respectively. Now what If American's news is a harbinger of improvements by other carriers, then a healthier airline industry would appear to be great news further up the supply chain for Boeing, Spirit AeroSystems, and Triumph Group.
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And third, American Airlines Group (NASDAQ: AAL) just announced that it is ahead of schedule on reducing its cash burn, which has declined from $100 million a day in April, to a projected $40 million per day by the end of this month. Now what If American's news is a harbinger of improvements by other carriers, then a healthier airline industry would appear to be great news further up the supply chain for Boeing, Spirit AeroSystems, and Triumph Group. 10 stocks we like better than Boeing When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen.
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And third, American Airlines Group (NASDAQ: AAL) just announced that it is ahead of schedule on reducing its cash burn, which has declined from $100 million a day in April, to a projected $40 million per day by the end of this month. This won't entirely offset the delay of the MAX orders from Boeing, but it should help. Now what If American's news is a harbinger of improvements by other carriers, then a healthier airline industry would appear to be great news further up the supply chain for Boeing, Spirit AeroSystems, and Triumph Group.
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07976b91-725c-4a2a-8bb7-28e3cb37cb4b
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5702.0
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2020-06-12 00:00:00 UTC
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Notable Friday Option Activity: AAL, TGT, QCOM
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AAL
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https://www.nasdaq.com/articles/notable-friday-option-activity%3A-aal-tgt-qcom-2020-06-12
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nan
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nan
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in American Airlines Group Inc (Symbol: AAL), where a total of 614,252 contracts have traded so far, representing approximately 61.4 million underlying shares. That amounts to about 53.5% of AAL's average daily trading volume over the past month of 114.8 million shares. Especially high volume was seen for the $16 strike put option expiring June 19, 2020, with 28,622 contracts trading so far today, representing approximately 2.9 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $16 strike highlighted in orange:
Target Corp (Symbol: TGT) saw options trading volume of 31,934 contracts, representing approximately 3.2 million underlying shares or approximately 51.2% of TGT's average daily trading volume over the past month, of 6.2 million shares. Especially high volume was seen for the $120 strike put option expiring June 12, 2020, with 2,089 contracts trading so far today, representing approximately 208,900 underlying shares of TGT. Below is a chart showing TGT's trailing twelve month trading history, with the $120 strike highlighted in orange:
And Qualcomm Inc (Symbol: QCOM) saw options trading volume of 55,395 contracts, representing approximately 5.5 million underlying shares or approximately 49.2% of QCOM's average daily trading volume over the past month, of 11.2 million shares. Especially high volume was seen for the $90 strike call option expiring June 19, 2020, with 5,329 contracts trading so far today, representing approximately 532,900 underlying shares of QCOM. Below is a chart showing QCOM's trailing twelve month trading history, with the $90 strike highlighted in orange:
For the various different available expirations for AAL options, TGT options, or QCOM options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $16 strike put option expiring June 19, 2020, with 28,622 contracts trading so far today, representing approximately 2.9 million underlying shares of AAL. Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in American Airlines Group Inc (Symbol: AAL), where a total of 614,252 contracts have traded so far, representing approximately 61.4 million underlying shares. That amounts to about 53.5% of AAL's average daily trading volume over the past month of 114.8 million shares.
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Especially high volume was seen for the $16 strike put option expiring June 19, 2020, with 28,622 contracts trading so far today, representing approximately 2.9 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $16 strike highlighted in orange: Target Corp (Symbol: TGT) saw options trading volume of 31,934 contracts, representing approximately 3.2 million underlying shares or approximately 51.2% of TGT's average daily trading volume over the past month, of 6.2 million shares. Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in American Airlines Group Inc (Symbol: AAL), where a total of 614,252 contracts have traded so far, representing approximately 61.4 million underlying shares.
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in American Airlines Group Inc (Symbol: AAL), where a total of 614,252 contracts have traded so far, representing approximately 61.4 million underlying shares. Below is a chart showing AAL's trailing twelve month trading history, with the $16 strike highlighted in orange: Target Corp (Symbol: TGT) saw options trading volume of 31,934 contracts, representing approximately 3.2 million underlying shares or approximately 51.2% of TGT's average daily trading volume over the past month, of 6.2 million shares. That amounts to about 53.5% of AAL's average daily trading volume over the past month of 114.8 million shares.
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Especially high volume was seen for the $16 strike put option expiring June 19, 2020, with 28,622 contracts trading so far today, representing approximately 2.9 million underlying shares of AAL. Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in American Airlines Group Inc (Symbol: AAL), where a total of 614,252 contracts have traded so far, representing approximately 61.4 million underlying shares. That amounts to about 53.5% of AAL's average daily trading volume over the past month of 114.8 million shares.
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3bb4f1e9-777b-42e7-a989-bcc7d123b63c
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5703.0
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2020-06-12 00:00:00 UTC
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Why Airline Shares Are Soaring Today
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AAL
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https://www.nasdaq.com/articles/why-airline-shares-are-soaring-today-2020-06-12
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nan
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nan
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What happened
Airline stocks surged higher on Friday following positive comments from American Airlines Group (NASDAQ: AAL) concerning traffic trends and cash bleed. The sector has been volatile of late, moving up and down based on sentiment about the prospects of a second wave of coronavirus infections and an economic recovery. But Friday was a "risk-on" day.
Shares of American opened up 20% and traded up 15% as of 10 a.m. EDT, while shares of Spirit Airlines (NYSE: SAVE), United Airlines Holdings (NASDAQ: UAL), and Delta Air Lines (NYSE: DAL) were all up 12% or more. Rounding out the sector, Southwest Airlines (NYSE: LUV), JetBlue Airways (NASDAQ: JBLU), Allegiant Travel (NASDAQ: ALGT), and Alaska Air Group (NYSE: ALK) were all up at least 10%, and Hawaiian Holdings (NASDAQ: HA) was up more than 8%.
Image source: Getty Images.
So what
Airline stocks are in a bit of a holding pattern right now, caught between fears that a second wave of the COVID-19 pandemic could force at least some of the companies into bankruptcy and optimism that the country is slowly reopening and that more normalized travel patterns will begin to resume.
There's evidence to suggest both scenarios are true. COVID-19 cases are on the rise in key states including Texas, Florida, and California, a potentially ominous sign we are moving too fast in reopening. But reopening we are, with the Transportation Security Administration on Thursday screening more than a half million people at airports in a single day for the first time since March 21.
Given the uncertainty, the stocks have tended to trade up or down based on the most recent datapoint. Friday morning's datapoint was positive, with American in a securities filing saying it has seen positive net bookings trends for both near-term and far-out travel since mid-May.
Even if the recovery is slow, American said it believes it can hit a zero-cash-burn rate by the end of 2020 either via improving demand or from cost cuts. American is considered the most vulnerable of the major airlines due to its industry-high debt load, so if American is making progress extending its runway, that's likely good news for holders of better-positioned companies.
Now what
We are still a long way from normal. In the filing, American said it expects second-quarter revenue to be down 90% year over year, on a 75% reduction in capacity. And it still expects to burn through about $40 million per day in June.
The airlines have the cash in the bank to survive losses for now, and American said it expects a CARES Act loan of about $4.75 billion to be funded this month to add to its liquidity. The question that remains, and which is not answerable, is what will become of the pandemic, and what might a second wave do to travel demand this summer and into the fall.
Investors would be wise to try to ignore the day-to-day volatility and focus on the airlines that are best-positioned to weather a long, slow recovery.
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.
|
What happened Airline stocks surged higher on Friday following positive comments from American Airlines Group (NASDAQ: AAL) concerning traffic trends and cash bleed. COVID-19 cases are on the rise in key states including Texas, Florida, and California, a potentially ominous sign we are moving too fast in reopening. But reopening we are, with the Transportation Security Administration on Thursday screening more than a half million people at airports in a single day for the first time since March 21.
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What happened Airline stocks surged higher on Friday following positive comments from American Airlines Group (NASDAQ: AAL) concerning traffic trends and cash bleed. Shares of American opened up 20% and traded up 15% as of 10 a.m. EDT, while shares of Spirit Airlines (NYSE: SAVE), United Airlines Holdings (NASDAQ: UAL), and Delta Air Lines (NYSE: DAL) were all up 12% or more. Rounding out the sector, Southwest Airlines (NYSE: LUV), JetBlue Airways (NASDAQ: JBLU), Allegiant Travel (NASDAQ: ALGT), and Alaska Air Group (NYSE: ALK) were all up at least 10%, and Hawaiian Holdings (NASDAQ: HA) was up more than 8%.
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What happened Airline stocks surged higher on Friday following positive comments from American Airlines Group (NASDAQ: AAL) concerning traffic trends and cash bleed. Shares of American opened up 20% and traded up 15% as of 10 a.m. EDT, while shares of Spirit Airlines (NYSE: SAVE), United Airlines Holdings (NASDAQ: UAL), and Delta Air Lines (NYSE: DAL) were all up 12% or more. Rounding out the sector, Southwest Airlines (NYSE: LUV), JetBlue Airways (NASDAQ: JBLU), Allegiant Travel (NASDAQ: ALGT), and Alaska Air Group (NYSE: ALK) were all up at least 10%, and Hawaiian Holdings (NASDAQ: HA) was up more than 8%.
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What happened Airline stocks surged higher on Friday following positive comments from American Airlines Group (NASDAQ: AAL) concerning traffic trends and cash bleed. Investors would be wise to try to ignore the day-to-day volatility and focus on the airlines that are best-positioned to weather a long, slow recovery. The Motley Fool recommends Alaska Air Group, Delta Air Lines, Hawaiian Holdings, JetBlue Airways, and Southwest Airlines.
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a68544a2-5a2a-4cce-b8d6-73995d1d96ff
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5704.0
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2020-06-12 00:00:00 UTC
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Should You Buy or Sell Airline Stocks Right Now?
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AAL
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https://www.nasdaq.com/articles/should-you-buy-or-sell-airline-stocks-right-now-2020-06-12
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nan
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nan
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You can't be blamed if you sold out of airline stocks as the COVID-19 pandemic decimated the industry. After all, one of the greatest names in investing dumped massive airline stakes at a loss during the panic.
But investing can be humbling, even for Warren Buffett, and the stocks have been surging of late on growing optimism that the worst of the travel drought is behind us.
Airlines data by YCharts
The stocks have come a long way off their lows, but the recovery is still fragile, and risks remain. Here's a look at where the sector stands, and whether investors should be looking to buy or sell right now.
The case to buy
COVID-19 has hit airlines hard, with companies in March seeing more cash flowing out the door in refunds than they were taking in via new bookings. Some of the largest airlines were burning through more than $100 million per day at the peak of losses, a rate no carrier can sustain for long.
But the market largely underestimated how healthy the airline sector was heading into the crisis, and its ability to quickly raise fresh liquidity. It's understandable investors would assume the worst: Airlines historically have fared poorly through recessions, with the U.S. industry producing more than 100 bankruptcies since late-1970s deregulation.
This time really was different. A round of bankruptcies followed by consolidation a decade ago created a stable, more resilient industry that came into 2020 generating solid profits and with significant unencumbered assets from which to borrow. Since March, U.S. airlines have raised nearly $20 billion in new debt and equity financing, and have a $50 billion backstop from the U.S. government to fall back on.
Image source: Getty Images.
The money bought the industry time to wait out the pandemic and hope for a recovery, and recent evidence suggests we have bounced off the bottom.
The Transportation Security Administration (TSA) is currently screening airport passengers at numbers not seen since early March, and American Airlines Group (NASDAQ: AAL) said it was adding back domestic flights because its average number of daily passengers had more than tripled compared to April.
Airline shares had fallen to levels that assumed bankruptcies were inevitable, and if a recovery is at hand the industry looks cheap. Even after the rally only one carrier, Allegiant Travel (NASDAQ: ALGT), trades at more than one time sales, and heavyweights including American and United Airlines Holdings (NASDAQ: UAL) trade at less than 0.3 times sales.
Investors are going to need to be patient, because even in a recovery revenue is likely to take more than a year to return to pre-pandemic levels. But for those willing to wait out a recovery, the potential for outsized returns is there.
The case to sell
The problem with the "bull" case for airlines is the number of "ifs" required to make it. It looks safe to dive into airline stocks if travel demand trends continue to rise, which will only happen if the economy remains stable and if there is no second wave to the pandemic.
At best, any prediction about what the next six months will bring us in terms of the pandemic or the economy is a guess. And if things go wrong, they could go very wrong for the airlines.
As of now, travel is recovering but it is far from normal. The TSA screening stations at airports are busier than they were, but still off 80% or more compared to 2019 levels. Airlines are adding flights, but will still fly at best half of their July domestic schedules compared to a year ago. International and corporate travel, which make up the bulk of profits for many airlines, could take years to return.
The airlines are telling us they have all but ruled out returning to their pre-pandemic size any time soon. Even as it was adding flights, American Airlines was also eliminating about 30% of its corporate and support workers, and United, Delta Air Lines (NYSE: DAL), and Southwest Airlines (NYSE: LUV), among others, are offering buyouts or planning for potential furloughs in the fall.
Even if demand does accelerate from here, the airlines are going to spend years devoting a significant percentage of cash flow to paying down the massive piles of new debt taken on during the pandemic. Heading into 2020, the airlines were healthy enough to do significant stock buybacks and some paid a dividend. In almost all scenarios, the potential for cash return in the years to come looks minimal at best.
Should you buy or sell?
For both bulls and bears, it is important to acknowledge the risks to airlines. A second wave of the pandemic scares me more than an economic recession, as the airlines have the cash on hand to navigate through a run-of-the-mill downturn. But a return to March and April pandemic conditions, with the corresponding drop in demand, could be lethal to at least some airlines.
That's a risk that can't be calculated. We just don't know whether the pandemic will be contained, or if the situation will be more dire weeks or months from now. The stocks could easily give back their recent gains in the months to come. For some investors, especially those without a tolerance for significant risk, that's reason enough to stay on the sidelines.
Image source: Getty Images.
I believe the airlines have enough financial runway to get through 2020, and that in all but the worst-case scenarios the industry can avoid bankruptcies that would wipe out equity holders. But the risk is real enough that investors should limit airline exposure to a small part of the overall portfolio. And be careful what you buy.
Southwest has a fortress balance sheet and a well-earned reputation as a top operator. Delta has more than enough cash to survive past 2020, even assuming no further revenue growth or cost cuts, and should be able to get to cash-flow breakeven by the fourth quarter. Alaska Air Group (NYSE: ALK) also looks well-positioned to take advantage of a domestic-focused recovery.
The first half of 2020 has been a volatile ride for airline investors, and given the challenges on the horizon, there's no reason to expect calm skies up ahead. I think it is safe to buy into airline shares, but keep your seatbelt fastened and be prepared to navigate through turbulence.
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
Lou Whiteman owns shares of Delta Air Lines. The Motley Fool recommends Alaska Air Group, 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.
|
The Transportation Security Administration (TSA) is currently screening airport passengers at numbers not seen since early March, and American Airlines Group (NASDAQ: AAL) said it was adding back domestic flights because its average number of daily passengers had more than tripled compared to April. It's understandable investors would assume the worst: Airlines historically have fared poorly through recessions, with the U.S. industry producing more than 100 bankruptcies since late-1970s deregulation. A round of bankruptcies followed by consolidation a decade ago created a stable, more resilient industry that came into 2020 generating solid profits and with significant unencumbered assets from which to borrow.
|
The Transportation Security Administration (TSA) is currently screening airport passengers at numbers not seen since early March, and American Airlines Group (NASDAQ: AAL) said it was adding back domestic flights because its average number of daily passengers had more than tripled compared to April. Even as it was adding flights, American Airlines was also eliminating about 30% of its corporate and support workers, and United, Delta Air Lines (NYSE: DAL), and Southwest Airlines (NYSE: LUV), among others, are offering buyouts or planning for potential furloughs in the fall. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
|
The Transportation Security Administration (TSA) is currently screening airport passengers at numbers not seen since early March, and American Airlines Group (NASDAQ: AAL) said it was adding back domestic flights because its average number of daily passengers had more than tripled compared to April. Even as it was adding flights, American Airlines was also eliminating about 30% of its corporate and support workers, and United, Delta Air Lines (NYSE: DAL), and Southwest Airlines (NYSE: LUV), among others, are offering buyouts or planning for potential furloughs in the fall. 10 stocks we like better than Southwest Airlines When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen.
|
The Transportation Security Administration (TSA) is currently screening airport passengers at numbers not seen since early March, and American Airlines Group (NASDAQ: AAL) said it was adding back domestic flights because its average number of daily passengers had more than tripled compared to April. Investors are going to need to be patient, because even in a recovery revenue is likely to take more than a year to return to pre-pandemic levels. That's a risk that can't be calculated.
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3c8d7d29-26f5-4285-8baf-0cc2ae6b4d80
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5705.0
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2020-06-12 00:00:00 UTC
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American Airlines Sees Cash Burn Rate Trending to Zero
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AAL
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https://www.nasdaq.com/articles/american-airlines-sees-cash-burn-rate-trending-to-zero-2020-06-12
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nan
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nan
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In a new SEC filing, American Airlines Group (NASDAQ: AAL) said it expects second-quarter revenue down 90% versus the year ago period. This is in line with what competitor Delta Air Lines (NYSE: DAL) said this week. American also said that its cash burn rate has decelerated from the $100 million per day it saw in April, to about $40 million per day it expects at the end of June. This would be ahead of its previous forecast, and American said it expects cash burn to be near zero by the end of 2020.
The company's outlook is predicated on improving demand conditions as well as cost reduction initiatives. As net bookings decreased through April, the airline reduced its capacity to better match demand. Recently, however, it said it is adding back capacity, and expects to be at 55% domestic capacity in July compared to last year, and overall systemwide capacity of about 40%, including international. This is an improvement compared to approximately 20% in May, and an expected 25% in June, 2020.
Image source: Getty Images.
American feels that it has adequate liquidity, expecting to be at about $11 billion at the end of June, including federal aid from the CARES Act that it expects to receive this month.
The $4.75 billion loan is expected to have a five-year duration secured by its domestic AAdvantage Program, which has been appraised to have a value between $19.5 billion and $31.5 billion, the company said. As part of the loan agreement, the company expects to issue warrants to the U.S. Treasury for 38 million shares of common stock at an exercise price of $12.51 per share.
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
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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In a new SEC filing, American Airlines Group (NASDAQ: AAL) said it expects second-quarter revenue down 90% versus the year ago period. As net bookings decreased through April, the airline reduced its capacity to better match demand. * 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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In a new SEC filing, American Airlines Group (NASDAQ: AAL) said it expects second-quarter revenue down 90% versus the year ago period. American also said that its cash burn rate has decelerated from the $100 million per day it saw in April, to about $40 million per day it expects at the end of June. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
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In a new SEC filing, American Airlines Group (NASDAQ: AAL) said it expects second-quarter revenue down 90% versus the year ago period. American feels that it has adequate liquidity, expecting to be at about $11 billion at the end of June, including federal aid from the CARES Act that it expects to receive this month. 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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In a new SEC filing, American Airlines Group (NASDAQ: AAL) said it expects second-quarter revenue down 90% versus the year ago period. American also said that its cash burn rate has decelerated from the $100 million per day it saw in April, to about $40 million per day it expects at the end of June. American feels that it has adequate liquidity, expecting to be at about $11 billion at the end of June, including federal aid from the CARES Act that it expects to receive this month.
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43a942e9-9faf-41d3-aed1-a5311fd9dc13
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5706.0
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2020-06-12 00:00:00 UTC
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Wall Street 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-street-week-ahead-investors-bet-bounce-in-value-stocks-will-stick-2020-06-12
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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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0f6c5c59-c895-4b1d-8d41-15bad94afa9f
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5707.0
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2020-06-12 00:00:00 UTC
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American Airlines Stock Surely Will Be Back After Yesterday’s Beating
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AAL
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https://www.nasdaq.com/articles/american-airlines-stock-surely-will-be-back-after-yesterdays-beating-2020-06-12
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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) stock plunged on June 11 as investors worried that states will reinstate shutdowns and that fears of the novel coronavirus will intensify among Americans.
Source: GagliardiPhotography / Shutterstock.com
However, in all likelihood, neither phenomenon will occur. Meanwhile, American Airlines’ financial position looks solid.
Some media outlets are trying to heavily emphasize slight upticks in hospitalizations and cases in several states. Meanwhile, Dr. Anthony Fauci, the government’s point man on the virus who has always been extremely pessimistic about developments regarding the pandemic, recently gave a couple of typically gloomy interviews.
But for several reasons, the lockdowns will not be reinstituted. First of all, data shows that deaths from the virus, probably the most important statistic, are, thankfully, not nearly as high as they were during the pandemic’s peak in April and early May.
The Second Wave and AAL Stock
At that time, nationwide deaths routinely approached and sometimes even meaningfully exceeded 2,000 per day. At this point, they’re running under 1,000 per day.
The 9 Best Cryptocurrencies to Watch for the Rest of 2020
I believe that there are two main reasons for the huge decrease in deaths. First, as the head of an Italian hospital recently stated, the virus is weakening tremendously.
Secondly, Gilead’s drug, remdesivir, which has been shown to effectively combat the virus, is saving tens of thousands of patients. And for the same reasons, any second wave of the virus will be much less deadly than the initial months of the first wave.
Meanwhile, it will be impossible for the same governors who recently encouraged and in some cases joined mass protests to effectively justify and enforce new shutdowns.
I believe that, if they try to do so, state legislators will take action to combat the shutdowns (that scenario is already playing out in Pennsylvania), police will refuse to enforce the shutdowns, and many if not most business owners will defy them.
As far as fears of the virus are concerned, the pathogen’s fatality rate turned out to be quite low overall. The CDC has estimated that the true fatality rate of the virus is 0.26%. Of course, it’s much lower for healthy people under the age of 70. And I believe that remdesivir has meaningfully further lowered the fatality rate.
Given the actual fatality rate, I think that Americans are extremely unlikely to know any healthy person under the age of 70 who has died from the virus. Consequently, fear of the coronavirus among such people, as shown by the recent protests, has become quite low.
American Will Survive
I have no doubt that American Airlines will outlast the pandemic. First of all, demand for the company’s flights, in-line with my previous predictions, has surged already.
Specifically, during Memorial Day weekend, 56% of its available seats were filled, up from just 15% in April. It should be noted, however, that the airline was flying just 20% of the flights that it had planned before the pandemic.
But 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.
And importantly, American Airlines believes that demand will rebound further going forward. In a May 27 appearance, American CEO Doug Parker said demand “looks better as we look out into June.”
Moreover, the company is putting its money where its mouth is. Specifically, American Airlines plans to increase its capacity to 55% of its pre-pandemic schedule in July, versus just 20% in May.
And speaking of money, the airline’s cash burn rate is dropping and is likely to fall further. In April, the company expected its average cash burn in the second quarter to drop to $70 million per day.
The company recently announced that it expects its daily cash burn rate to fall to $40 million later this month. And on May 27, its CFO, Derek Kerr, estimated that its burn rate would come in at $10 million-$20 million per day in Q3 and Q4.
On May 27, the company said it had $11 billion of cash. That means that, at an average burn rate of $20 million per day, the company, according to my estimates, could survive well over 500 days, or over 16 months. And that’s assuming that it will not receive any more cash from the government or the private sector. Over 16 months will be more than enough time for either a vaccine to be made or for the virus to completely disappear.
The Bottom Line
Shutdowns will not be reimposed and fears of the virus among non-elderly, healthy people will remain low. Therefore, the demand for American Airlines’ flights will continue to recover.
Meanwhile, American has more than enough money to outlast the pandemic. Therefore, longer-term investors should buy AAL stock on weakness.
As of this writing, Larry Ramer owned shares of Gilead. Larry 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 American Airlines Stock Surely Will Be Back After Yesterday’s Beating 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 American Airlines (NASDAQ:AAL) stock plunged on June 11 as investors worried that states will reinstate shutdowns and that fears of the novel coronavirus will intensify among Americans. The Second Wave and AAL Stock At that time, nationwide deaths routinely approached and sometimes even meaningfully exceeded 2,000 per day. Therefore, longer-term investors should buy AAL stock on weakness.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips American Airlines (NASDAQ:AAL) stock plunged on June 11 as investors worried that states will reinstate shutdowns and that fears of the novel coronavirus will intensify among Americans. The Second Wave and AAL Stock At that time, nationwide deaths routinely approached and sometimes even meaningfully exceeded 2,000 per day. Therefore, longer-term investors should buy AAL stock on weakness.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips American Airlines (NASDAQ:AAL) stock plunged on June 11 as investors worried that states will reinstate shutdowns and that fears of the novel coronavirus will intensify among Americans. The Second Wave and AAL Stock At that time, nationwide deaths routinely approached and sometimes even meaningfully exceeded 2,000 per day. Therefore, longer-term investors should buy AAL stock on weakness.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips American Airlines (NASDAQ:AAL) stock plunged on June 11 as investors worried that states will reinstate shutdowns and that fears of the novel coronavirus will intensify among Americans. The Second Wave and AAL Stock At that time, nationwide deaths routinely approached and sometimes even meaningfully exceeded 2,000 per day. Therefore, longer-term investors should buy AAL stock on weakness.
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d3449e0d-9c74-4040-8c52-f3415b40895f
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5708.0
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2020-06-12 00:00:00 UTC
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Wall Street rebounds after biggest pullback since March
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AAL
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https://www.nasdaq.com/articles/wall-street-rebounds-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 jumped on Friday, recouping about half of the previous session's sharp losses, 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.
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 11%, 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 14% and 19% leading gains on the S&P 500 following sharp declines in the previous session.
"People are just taking a breather after the outright selling yesterday, like we saw back in the dark days of February and early March," said Ryan Giannotto, director of research at GraniteShares ETFs in New York.
"There's always going to be more headlines about coronavirus cases increasing, more tests increasing. That's just something that markets, investors and companies are going to have to learn to deal with."
On Thursday, the tech-heavy Nasdaq .IXIC ended about 5% below its record closing high and the S&P 500 .SPX tumbled nearly 6% 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 investors bets on a swift economic rebound.
The S&P 500 is now about 9% from its record high after being within 5% from that level earlier this week.
The CBOE volatility index .VIX eased about 5.33 points after jumping to its highest level since April 23.
At 10:11 a.m. ET, the Dow Jones Industrial Average .DJI was up 766.58 points, or 3.05%, at 25,894.75, the S&P 500 .SPX was up 74.60 points, or 2.48%, at 3,076.70. The Nasdaq Composite .IXIC was up 238.93 points, or 2.52%, at 9,731.65.
Photoshop maker Adobe Inc ADBE.O rose 2.3% after posting a better-than-expected quarterly profit, driven by strong demand for its cloud software.
"The technology sector has led the way so far this year and we think this can continue," said Stuart Rumble, investment director at Fidelity Investments.
"Many companies and businesses are being forced to explore new ways to conduct their businesses online, ranging from remote working, video conferencing to online shopping and payments."
Yoga apparel maker Lululemon Athletica Inc LULU.O fell 1.9% after posting lower-than-expected quarterly results due to coronavirus-induced store closures.
Advancing issues outnumbered decliners for a 14.99-to-1 ratio on the NYSE and a 11.73-to-1 ratio on the Nasdaq.
The S&P index recorded one new 52-week high and no new low, while the Nasdaq recorded 14 new highs and no new low.
(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 14% and 19% 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 jumped on Friday, recouping about half of the previous session's sharp losses, 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. "People are just taking a breather after the outright selling yesterday, like we saw back in the dark days of February and early March," said Ryan Giannotto, director of research at GraniteShares ETFs in New York.
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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% and 19% 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 jumped on Friday, recouping about half of the previous session's sharp losses, 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 14 new highs and no new low.
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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% and 19% 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 jumped on Friday, recouping about half of the previous session's sharp losses, 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% 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 investors 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% and 19% 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 jumped on Friday, recouping about half of the previous session's sharp losses, 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 9% from its record high after being within 5% from that level earlier this week.
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56c7718e-aba4-4892-9048-d9a4b56fc4ec
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5709.0
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2020-06-12 00:00:00 UTC
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American Airlines sees 90% slump in second-quarter revenue
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AAL
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https://www.nasdaq.com/articles/american-airlines-sees-90-slump-in-second-quarter-revenue-2020-06-12
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nan
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nan
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June 12 (Reuters) - U.S. airline American Airlines Group Inc AAL.O said on Friday it expects its second quarter revenue to decline 90% compared with a year earlier.
The company expects to reduce its cash burn rate to about zero by the end of 2020, as demand conditions continue to improve. (https://bit.ly/3cXRVp3)
(Reporting by Sanjana Shivdas in Bengaluru; Editing by Krishna Chandra Eluri)
((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 12 (Reuters) - U.S. airline American Airlines Group Inc AAL.O said on Friday it expects its second quarter revenue to decline 90% compared with a year earlier. The company expects to reduce its cash burn rate to about zero by the end of 2020, as demand conditions continue to improve. (https://bit.ly/3cXRVp3) (Reporting by Sanjana Shivdas in Bengaluru; Editing by Krishna Chandra Eluri) ((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 12 (Reuters) - U.S. airline American Airlines Group Inc AAL.O said on Friday it expects its second quarter revenue to decline 90% compared with a year earlier. The company expects to reduce its cash burn rate to about zero by the end of 2020, as demand conditions continue to improve. (https://bit.ly/3cXRVp3) (Reporting by Sanjana Shivdas in Bengaluru; Editing by Krishna Chandra Eluri) ((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 12 (Reuters) - U.S. airline American Airlines Group Inc AAL.O said on Friday it expects its second quarter revenue to decline 90% compared with a year earlier. The company expects to reduce its cash burn rate to about zero by the end of 2020, as demand conditions continue to improve. (https://bit.ly/3cXRVp3) (Reporting by Sanjana Shivdas in Bengaluru; Editing by Krishna Chandra Eluri) ((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 12 (Reuters) - U.S. airline American Airlines Group Inc AAL.O said on Friday it expects its second quarter revenue to decline 90% compared with a year earlier. The company expects to reduce its cash burn rate to about zero by the end of 2020, as demand conditions continue to improve. (https://bit.ly/3cXRVp3) (Reporting by Sanjana Shivdas in Bengaluru; Editing by Krishna Chandra Eluri) ((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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5d7968a4-4e74-49e8-84f7-aaf645975f89
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5710.0
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2020-06-12 00:00:00 UTC
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American Airlines sees 90% slump in second-quarter revenue
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AAL
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https://www.nasdaq.com/articles/american-airlines-sees-90-slump-in-second-quarter-revenue-2020-06-12-0
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nan
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nan
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Adds details on American's cash burn rate, flight schedule
June 12 (Reuters) - American Airlines Group Inc AAL.O on Friday joined Delta Air Lines DAL.N in forecasting a 90% slump in second-quarter revenue, but said it expects to cut its cash burn rate to about zero by the end of2020 as travel demand returns.
The U.S. airlines have said that a modest recovery in demand was helping slow their daily cash burn rates in June, after the COVID-19 pandemic led to hundreds of flight cancellations.
Many airlines are now adding back flights in July as demand modestly rebounds.
American Airlines expects its daily cash burn rate to slow to about $40 million in June, and said it plans to fly 55% of its domestic schedule and nearly 20% of its international schedule in July.
"The company has recently experienced improving demand conditions and has passed the peak in cash refund activity," American Airlines said in a statement.
However, as the duration and severity of the COVID-19 pandemic remain uncertain, the company said it expects its fiscal 2020 results to be materially impacted. (https://bit.ly/3cXRVp3)
(Reporting by Sanjana Shivdas in Bengaluru; Editing by Krishna Chandra Eluri and Amy Caren Daniel)
((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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Adds details on American's cash burn rate, flight schedule June 12 (Reuters) - American Airlines Group Inc AAL.O on Friday joined Delta Air Lines DAL.N in forecasting a 90% slump in second-quarter revenue, but said it expects to cut its cash burn rate to about zero by the end of2020 as travel demand returns. The U.S. airlines have said that a modest recovery in demand was helping slow their daily cash burn rates in June, after the COVID-19 pandemic led to hundreds of flight cancellations. "The company has recently experienced improving demand conditions and has passed the peak in cash refund activity," American Airlines said in a statement.
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Adds details on American's cash burn rate, flight schedule June 12 (Reuters) - American Airlines Group Inc AAL.O on Friday joined Delta Air Lines DAL.N in forecasting a 90% slump in second-quarter revenue, but said it expects to cut its cash burn rate to about zero by the end of2020 as travel demand returns. The U.S. airlines have said that a modest recovery in demand was helping slow their daily cash burn rates in June, after the COVID-19 pandemic led to hundreds of flight cancellations. American Airlines expects its daily cash burn rate to slow to about $40 million in June, and said it plans to fly 55% of its domestic schedule and nearly 20% of its international schedule in July.
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Adds details on American's cash burn rate, flight schedule June 12 (Reuters) - American Airlines Group Inc AAL.O on Friday joined Delta Air Lines DAL.N in forecasting a 90% slump in second-quarter revenue, but said it expects to cut its cash burn rate to about zero by the end of2020 as travel demand returns. The U.S. airlines have said that a modest recovery in demand was helping slow their daily cash burn rates in June, after the COVID-19 pandemic led to hundreds of flight cancellations. American Airlines expects its daily cash burn rate to slow to about $40 million in June, and said it plans to fly 55% of its domestic schedule and nearly 20% of its international schedule in July.
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Adds details on American's cash burn rate, flight schedule June 12 (Reuters) - American Airlines Group Inc AAL.O on Friday joined Delta Air Lines DAL.N in forecasting a 90% slump in second-quarter revenue, but said it expects to cut its cash burn rate to about zero by the end of2020 as travel demand returns. The U.S. airlines have said that a modest recovery in demand was helping slow their daily cash burn rates in June, after the COVID-19 pandemic led to hundreds of flight cancellations. "The company has recently experienced improving demand conditions and has passed the peak in cash refund activity," American Airlines said in a statement.
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f7783a79-a20e-466c-8f49-38cd07214ac8
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5711.0
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2020-06-12 00:00:00 UTC
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US STOCKS-Wall Street set for strong open after Thursday's rout
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AAL
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https://www.nasdaq.com/articles/us-stocks-wall-street-set-for-strong-open-after-thursdays-rout-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 were set to open sharply higher on Friday, a day after they saw the biggest one-day dive in about three months on fears of a resurgence in coronavirus infections.
Big U.S. lenders including Bank of America Corp BAC.N, Citigroup Inc C.N and Morgan Stanley MS.N rose between 3% and 5% in premarket trading after taking a hammering earlier this week.
Boeing Co BA.N jumped 6.2%, but was still headed for a 17% fall this week. United Airlines UAL.O, American Airlines AAL.O, Norwegian Cruise Line NCLH.N jumped about 9% and 11% after leading losses on the S&P 500 on Thursday.
"People are just taking a breather after the outright selling yesterday, like we saw back in the dark days of February and early-March," said Ryan Giannotto, director of research at GraniteShares ETFs in New York.
"There's always going to be more headlines about cases increasing, more tests increasing. That's just something that markets, investors and companies are going to have to learn to deal with."
The three main U.S. stock indexes were set to wrap up their worst week in 12 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 investors bets on a swift economic rebound.
On Thursday, the tech-heavy Nasdaq .IXIC ended about 5% below its record closing high and the S&P 500 .SPX tumbled nearly 6%, after surging about 45% from its March low.
The CBOE volatility index .VIX eased about 4.5 points after jumping to its highest level since April 23.
At 8:35 a.m. ET, S&P 500 e-minis EScv1 were up 1.72% at 3,062.50. The daily up trading limit for S&P futures is 3,152. Dow e-minis 1YMcv1 were up 491 points, or 1.95% and Nasdaq 100 e-minis NQcv1 were up 119.75 points, or 1.25%.
Photoshop maker Adobe Inc ADBE.O rose 4.5% after posting a better-than-expected quarterly profit, driven by strong demand for its cloud software.
"The technology sector has led the way so far this year and we think this can continue," said Stuart Rumble, an investment director at Fidelity Investments.
"Many companies and businesses are being forced to explore new ways to conduct their businesses online, ranging from remote working, video conferencing to online shopping and payments."
Yoga apparel maker Lululemon Athletica Inc LULU.O fell 3.3% after posting a lower-than-expected quarterly revenue and profit due to coronavirus-led store closures.
(Reporting by Medha Singh and Devik Jain in Bengaluru; Editing by Saumyadeb Chakrabarty and Uttaresh.V)
((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 UAL.O, American Airlines AAL.O, Norwegian Cruise Line NCLH.N jumped about 9% and 11% after leading losses on the S&P 500 on Thursday. By Medha Singh and Devik Jain June 12 (Reuters) - Wall Street's main indexes were set to open sharply higher on Friday, a day after they saw the biggest one-day dive in about three months on fears of a resurgence in coronavirus infections. "People are just taking a breather after the outright selling yesterday, like we saw back in the dark days of February and early-March," said Ryan Giannotto, director of research at GraniteShares ETFs in New York.
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United Airlines UAL.O, American Airlines AAL.O, Norwegian Cruise Line NCLH.N jumped about 9% and 11% after leading losses on the S&P 500 on Thursday. By Medha Singh and Devik Jain June 12 (Reuters) - Wall Street's main indexes were set to open sharply higher on Friday, a day after they saw the biggest one-day dive in about three months on fears of a resurgence in coronavirus infections. Photoshop maker Adobe Inc ADBE.O rose 4.5% after posting a better-than-expected quarterly profit, driven by strong demand for its cloud software.
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United Airlines UAL.O, American Airlines AAL.O, Norwegian Cruise Line NCLH.N jumped about 9% and 11% after leading losses on the S&P 500 on Thursday. By Medha Singh and Devik Jain June 12 (Reuters) - Wall Street's main indexes were set to open sharply higher on Friday, a day after they saw the biggest one-day dive in about three months on fears of a resurgence in coronavirus infections. The three main U.S. stock indexes were set to wrap up their worst week in 12 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 investors bets on a swift economic rebound.
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United Airlines UAL.O, American Airlines AAL.O, Norwegian Cruise Line NCLH.N jumped about 9% and 11% after leading losses on the S&P 500 on Thursday. By Medha Singh and Devik Jain June 12 (Reuters) - Wall Street's main indexes were set to open sharply higher on Friday, a day after they saw the biggest one-day dive in about three months on fears of a resurgence in coronavirus infections. Big U.S. lenders including Bank of America Corp BAC.N, Citigroup Inc C.N and Morgan Stanley MS.N rose between 3% and 5% in premarket trading after taking a hammering earlier this week.
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a1dccfed-9db1-4f81-b753-aaaea1496b9c
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5712.0
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2020-06-11 00:00:00 UTC
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U.S. stock futures drop on fears of second virus wave, bleak economic view
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AAL
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https://www.nasdaq.com/articles/u.s.-stock-futures-drop-on-fears-of-second-virus-wave-bleak-economic-view-2020-06-11
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nan
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nan
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By Medha Singh and Devik Jain
June 11 (Reuters) - U.S. stock futures fell sharply on Thursday on jitters over a second wave of coronavirus infections and a grim forecast for the economy from the Federal Reserve.
Shares of airlines, cruise operators and casinos slumped as a Reuters analysis showed new cases rose in the United States after five weeks of declines.
United Airlines Holdings Inc UAL.O, American Airlines AAL.O, Norwegian Cruise Line Holdings Ltd NCLH.N, Royal Caribbean Cruises Ltd RCL.N and Wynn Resorts WYNN.O slumped between 9% and 13% in premarket trading.
Wall Street's fear gauge, the CBOE volatility index .VIX, rose above 30 points for the first time since June 1.
"The market has been rallying because they're looking to 2021 and saying we're going to get past this and then things will get sort of back to normal," said Sean O'Hara, president of Pacer ETF Distributors in Malvern, Pennsylvania.
"One thing that really could change the trajectory here would be if we have a big bounce in a second wave. That's the big fear."
The easing of lockdowns and a massive stimulus program to help the economy bounce back quickly to pre-pandemic levels have been pivotal in the S&P 500 .SPX staging a stunning recovery from a deep, virus-induced selloff.
The S&P 500 .SPX and the Dow Jones .DJI indexes ended lower on Wednesday after Fed Chair Jerome Powell acknowledged it could take years for the millions of people laid off due to COVID-19, to get back to work, even as he reiterated his promise to support the virus-hit economy for years.
A Labor Department report showed about 1.54 million people applied for state unemployment benefits for the week ended June 6, roughly in line with estimates.
Boeing Co BA.N shed 9.3% after its top supplier Spirit AeroSystems Holdings Inc SPR.N announced a 21-day layoff for staff doing production and support work for Boeing's 737 program. Spirit AeroSystems tumbled 13.2%.
At 8:32 a.m. ET, Dow e-minis 1YMcv1 were down 834 points, or 3.09%. S&P 500 e-minis EScv1 were down 79.25 points, or 2.49% and Nasdaq 100 e-minis NQcv1 were down 158.75 points, or 1.57%.
Shares of banks, which tend to benefit in a higher rate environment, slipped on Thursday as Fed policymakers saw the key overnight interest rates remaining near zero through at least 2022.
Bank of America Corp BAC.N, Citigroup Inc C.N and JPMorgan Chase & Co JPM.N fell between 3.8% and 6%.
Online food delivery firm Grubhub Inc GRUB.N rose 10% after Europe's Just Eat Takeaway.com NV TKWY.AS agreed to buy its U.S peer in an all-stock deal for $7.3 billion. The deal, if completed, would create the world's largest food delivery company outside China.
(Reporting by Medha Singh and Devik Jain in Bengaluru; Editing by Shounak Dasgupta and Uttaresh.V)
((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 AAL.O, Norwegian Cruise Line Holdings Ltd NCLH.N, Royal Caribbean Cruises Ltd RCL.N and Wynn Resorts WYNN.O slumped between 9% and 13% in premarket trading. By Medha Singh and Devik Jain June 11 (Reuters) - U.S. stock futures fell sharply on Thursday on jitters over a second wave of coronavirus infections and a grim forecast for the economy from the Federal Reserve. The easing of lockdowns and a massive stimulus program to help the economy bounce back quickly to pre-pandemic levels have been pivotal in the S&P 500 .SPX staging a stunning recovery from a deep, virus-induced selloff.
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United Airlines Holdings Inc UAL.O, American Airlines AAL.O, Norwegian Cruise Line Holdings Ltd NCLH.N, Royal Caribbean Cruises Ltd RCL.N and Wynn Resorts WYNN.O slumped between 9% and 13% in premarket trading. By Medha Singh and Devik Jain June 11 (Reuters) - U.S. stock futures fell sharply on Thursday on jitters over a second wave of coronavirus infections and a grim forecast for the economy from the Federal Reserve. A Labor Department report showed about 1.54 million people applied for state unemployment benefits for the week ended June 6, roughly in line with estimates.
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United Airlines Holdings Inc UAL.O, American Airlines AAL.O, Norwegian Cruise Line Holdings Ltd NCLH.N, Royal Caribbean Cruises Ltd RCL.N and Wynn Resorts WYNN.O slumped between 9% and 13% in premarket trading. By Medha Singh and Devik Jain June 11 (Reuters) - U.S. stock futures fell sharply on Thursday on jitters over a second wave of coronavirus infections and a grim forecast for the economy from the Federal Reserve. The S&P 500 .SPX and the Dow Jones .DJI indexes ended lower on Wednesday after Fed Chair Jerome Powell acknowledged it could take years for the millions of people laid off due to COVID-19, to get back to work, even as he reiterated his promise to support the virus-hit economy for years.
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United Airlines Holdings Inc UAL.O, American Airlines AAL.O, Norwegian Cruise Line Holdings Ltd NCLH.N, Royal Caribbean Cruises Ltd RCL.N and Wynn Resorts WYNN.O slumped between 9% and 13% in premarket trading. Shares of airlines, cruise operators and casinos slumped as a Reuters analysis showed new cases rose in the United States after five weeks of declines. Wall Street's fear gauge, the CBOE volatility index .VIX, rose above 30 points for the first time since June 1.
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54400ce3-440a-4f0b-a6f9-d62466eb95c1
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5713.0
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2020-06-11 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-2020-06-11
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nan
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nan
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What happened
Airline shares headed south for the third consecutive trading session, weighed down by a rise of new COVID-19 cases in tourism hot spots that some fear could be the start of a second wave to the pandemic. There was also some company-specific news that helped remind investors that even if travel demand is slowly improving, we are in for an extended downturn.
Shares of United Airlines Holdings (NASDAQ: UAL), American Airlines Group (NASDAQ: AAL), and Spirit Airlines (NYSE: SAVE) were each down more than 12% as of noon Thursday, with shares of Delta Air Lines (NYSE: DAL), Alaska Air Group (NYSE: ALK), Hawaiian Holdings (NASDAQ: HA) and Allegiant Travel (NASDAQ: ALGT) all off double digits.
Even the relative "winners" in the sector were having rough days, with Southwest Airlines (NYSE: LUV) and JetBlue Airways (NASDAQ: JBLU) each off by more than 8%.
So what
Airline stocks have bounced off of March and April lows thanks to their efforts to raise cash and some encouraging signs that travel demand is slowly beginning to return. But the industry is still vulnerable, and if revenue does not continue to trend upward in the months to come, at least some of the airlines could face liquidity issues.
With that in mind, airline investors are closely tracking the spread of the pandemic, and Thursday brought ominous signs. New COVID-19 cases are soaring in states including Arizona, Florida, Texas, and California, raising fears of a potential second wave that could reverse state reopenings and send demand for travel back to March lows.
Image source: Getty Images.
Investors got a fresh look at how dire the situation is for carriers from a Delta securities filing in which the airline said it is seeking concessions from lenders to avoid falling out of compliance with certain debt requirements. The issue is the airline's so-called "fixed-charge coverage ratio," a measure of its ability to pay fixed expenses like rents and aircraft payments based on cash flow.
"Based on the reduction in demand that we have experienced and are continuing to experience as a result of the COVID-19 pandemic, we expect that we will not be able to satisfy the current minimum fixed charge coverage ratio by early next year," Delta said in the filing. "We plan to seek and expect to obtain amendments to these credit facilities prior to a breach."
American Airlines also provided an update during the company's virtual annual meeting. CEO Doug Parker said American expects to bring its daily cash burn rate down to $40 million by the end of June, ahead of its $50 million per day target.
Now what
Issues like cash burn and even Delta needing to rework debt covenants, which should be a formality, are likely priced into airline shares. But the idea of a large second wave to the pandemic is terrifying on a lot of different levels.
The only reason the cash burn rates are not alarming is that we know the airlines have billions in the bank, and we hope that the current crisis does not continue indefinitely. Should a second wave hit as hard as what happened in March and April, the timetable for a recovery would also be pushed back, and some of the airlines have already pulled a lot of the easy levers they have to raise more cash and buy more time.
I still think in all but the worst of scenarios we can avoid a U.S. airline bankruptcy, but given the uncertainty with the pandemic, it is impossible to say for sure. And if travel demand remains weak into the fall, we are almost certain to see a dramatic shrinking of the industry.
For investors who want to buy into the industry, it is best to limit your exposure to a small part of your overall portfolio and to focus on the companies that stand the best chance of surviving whatever is ahead.
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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Shares of United Airlines Holdings (NASDAQ: UAL), American Airlines Group (NASDAQ: AAL), and Spirit Airlines (NYSE: SAVE) were each down more than 12% as of noon Thursday, with shares of Delta Air Lines (NYSE: DAL), Alaska Air Group (NYSE: ALK), Hawaiian Holdings (NASDAQ: HA) and Allegiant Travel (NASDAQ: ALGT) all off double digits. What happened Airline shares headed south for the third consecutive trading session, weighed down by a rise of new COVID-19 cases in tourism hot spots that some fear could be the start of a second wave to the pandemic. "Based on the reduction in demand that we have experienced and are continuing to experience as a result of the COVID-19 pandemic, we expect that we will not be able to satisfy the current minimum fixed charge coverage ratio by early next year," Delta said in the filing.
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Shares of United Airlines Holdings (NASDAQ: UAL), American Airlines Group (NASDAQ: AAL), and Spirit Airlines (NYSE: SAVE) were each down more than 12% as of noon Thursday, with shares of Delta Air Lines (NYSE: DAL), Alaska Air Group (NYSE: ALK), Hawaiian Holdings (NASDAQ: HA) and Allegiant Travel (NASDAQ: ALGT) all off double digits. 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 recommends Alaska Air Group, Delta Air Lines, Hawaiian Holdings, JetBlue Airways, and Southwest Airlines.
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Shares of United Airlines Holdings (NASDAQ: UAL), American Airlines Group (NASDAQ: AAL), and Spirit Airlines (NYSE: SAVE) were each down more than 12% as of noon Thursday, with shares of Delta Air Lines (NYSE: DAL), Alaska Air Group (NYSE: ALK), Hawaiian Holdings (NASDAQ: HA) and Allegiant Travel (NASDAQ: ALGT) all off double digits. 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 recommends Alaska Air Group, Delta Air Lines, Hawaiian Holdings, JetBlue Airways, and Southwest Airlines.
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Shares of United Airlines Holdings (NASDAQ: UAL), American Airlines Group (NASDAQ: AAL), and Spirit Airlines (NYSE: SAVE) were each down more than 12% as of noon Thursday, with shares of Delta Air Lines (NYSE: DAL), Alaska Air Group (NYSE: ALK), Hawaiian Holdings (NASDAQ: HA) and Allegiant Travel (NASDAQ: ALGT) all off double digits. The only reason the cash burn rates are not alarming is that we know the airlines have billions in the bank, and we hope that the current crisis does not continue indefinitely. That's right -- they think these 10 stocks are even better buys.
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9392c372-9d8c-418f-b0b1-93a6379d5230
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5714.0
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2020-06-10 00:00:00 UTC
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American Airlines Stock Will Soon Run Into Some Turbulence
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AAL
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https://www.nasdaq.com/articles/american-airlines-stock-will-soon-run-into-some-turbulence-2020-06-10
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Shares of American Airlines (NASDAQ:AAL) have taken off into the stratosphere over the past week. And AAL stock has nearly doubled so far this month as the lockdowns loosen and businesses reopen.
Source: GagliardiPhotography / Shutterstock.com
Certainly, the fear of bankruptcy helped crash American Airlines and its peers to overly pessimistic levels. Now, in a similar vein, an overly optimistic outlook is now pushing AAL stock to an unstable flight path.
What do I mean? It’s time for American Airlines to prepare for descent.
American Airlines: Valuation View
No one really knows how the airlines will emerge from the novel coronavirus. One thing that is generally agreed upon, however, is that there will undoubtedly be a detrimental effect for the foreseeable future. American Airlines itself acknowledged as much by announcing layoffs as it prepares for the termination of federal aid in the coming months.
The massive $2.65 net loss from last quarter serves to show just how deep the crisis is for the airline industry. Consensus expectations are for an even bigger loss next quarter of $7.41. Even with states reopening, many travelers will likely be reluctant to get on a plane until there is a vaccine.
It will take many months for American Airlines to come remotely close to the demand levels that were evident before the coronavirus crisis began.
My Technical Take on AAL Stock
AAL stock is very overbought from a technical standpoint. The 14-day relative strength index (RSI) is approaching 80 and is at the highest level over the past year. Moving average convergence/divergence just breached 1 and is also at 12-month highs.
Momentum is getting to an extreme — one that’s rarely been seen. Bollinger Percent B is finally weakening after getting to bearish readings. American Airlines stock is also trading at a massive premium to the 20-day moving average. That’s another sign of overexuberance. There is major overhead resistance at the $25 area.
Source: The thinkorswim® platform from TD Ameritrade
Most importantly, AAL stock had a key reversal day Friday and an inside day Monday. This is usually a signal that the trend may be coming to an end and a period of indecision may be looming. Neither the buyers nor sellers are in control. An inside day after such a strong rally, however, can many time be a sign of exhaustion. There is a distinct probability that a counter-trend reversal may be in the offing.
What Does All the Volatility Mean?
A look at comparative volatility over the past week shows how frothy the options market has become. This is usually a reliable, contrarian indicator. It also favors option selling strategies when constructing trades.
The table below shows the option montage for AAL stock from June 3. The highlighted $16 strike price is roughly 25% out-of-the money and trading at 91.50 IV. Dividing the midpoint option premium (0.145) by the stock price equates to 1.2% of the price of the stock.
Source: The thinkorswim® platform from TD Ameritrade
The option montage below is from June 8. The $25 strike calls are roughly 25% out-of-the money but trading at over a 150 IV. Dividing the midpoint option price (0.795) by the stock price equates to 3.9% of the price of the stock. This indicates how much more dramatically expensive the call prices have become over the course of the past week in AAL stock.
Source: The thinkorswim® platform from TD Ameritrade
I had a decidedly bullish view in my previous research piece on AAL stock from March 11. Both the technicals and fundamentals were a screaming buy back then. Now that American Airlines has rallied nearly 50% in that time frame, my bullish outlook has turned to a more bearish tone. Price does matter.
So to position for the red-hot rally to stall — and to capture some comparatively rich option premium — a simple bear call spread makes probabilistic sense.
How to Trade American Airlines Stock
Sell the AAL June $25/$28 call spread for a 40 cents net credit
Maximum gain on the trade is $40 per spread with maximum risk of $2.60 per spread. Return on risk is 15.38%. The short $25 strike price provides a 23% upside cushion to the $20.31 closing price of AAL stock. It is also structured right at the major resistance level of $25.
As of this writing, Tim Biggam did not hold a position in any of the aforementioned securities. Anyone interested in finding out more about option-based strategies or for a weekly option and volatility newsletter can visit the Options and Volatility Newsletter website.
The post American Airlines Stock Will Soon Run Into Some Turbulence 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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Source: The thinkorswim® platform from TD Ameritrade I had a decidedly bullish view in my previous research piece on AAL stock from March 11. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Shares of American Airlines (NASDAQ:AAL) have taken off into the stratosphere over the past week. And AAL stock has nearly doubled so far this month as the lockdowns loosen and businesses reopen.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Shares of American Airlines (NASDAQ:AAL) have taken off into the stratosphere over the past week. How to Trade American Airlines Stock Sell the AAL June $25/$28 call spread for a 40 cents net credit Maximum gain on the trade is $40 per spread with maximum risk of $2.60 per spread. And AAL stock has nearly doubled so far this month as the lockdowns loosen and businesses reopen.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Shares of American Airlines (NASDAQ:AAL) have taken off into the stratosphere over the past week. How to Trade American Airlines Stock Sell the AAL June $25/$28 call spread for a 40 cents net credit Maximum gain on the trade is $40 per spread with maximum risk of $2.60 per spread. And AAL stock has nearly doubled so far this month as the lockdowns loosen and businesses reopen.
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How to Trade American Airlines Stock Sell the AAL June $25/$28 call spread for a 40 cents net credit Maximum gain on the trade is $40 per spread with maximum risk of $2.60 per spread. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Shares of American Airlines (NASDAQ:AAL) have taken off into the stratosphere over the past week. And AAL stock has nearly doubled so far this month as the lockdowns loosen and businesses reopen.
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8c39cbea-3c3d-4400-bc3d-76f6ff107e54
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5715.0
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2020-06-10 00:00:00 UTC
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American Airlines (AAL): Failure Is Not An Option
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AAL
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https://www.nasdaq.com/articles/american-airlines-aal%3A-failure-is-not-an-option-2020-06-10
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nan
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nan
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American Airlines Group (AAL) traded far below $10 because the market viewed bankruptcy as a risk. The CEO was clear at the recent Bernstein Strategic Decisions Conference that bankruptcy should be seen as failure, not a financial tool.
The company is busy reducing daily cash burn even with a zero-revenue scenario. With traffic already rebounding, the airline is poised to rally further with the industry rebound while investors should now have confidence to buy the airline stock on dips knowing failure isn’t an option in the future.
What’s interesting is that its popularity among investor is rising. In the past 30 days, the change in the number of best-performing portfolios holding AAL on TipRanks increased by 5.5% — a pretty massive leap when you think about it. This gives the stock a “very positive” investor sentiment.
Traffic Rebound
The biggest solution to what ails airlines is a rebound in traffic. At the depths of the crisis in mid-April, passengers going through the TSA checkpoint were down 96% from 2019 levels. In the last week, passenger levels have returned to 16% of 2019 levels with June 7 traffic reaching 441K.
The airline industry is still dealing with Disneyland not opening until July 11, Hawaii requiring a 14-day quarantine and cruise ships not restarting until at least August 1. All of these factors contribute to reduced demand due to a lack of open destinations for leisure travel.
Back at the end of April, Warren Buffett sold the airlines due to fears that passengers wouldn’t return to airlines until a vaccine existed. The biggest question now is how quickly traffic levels can rebound to 25% or 50% of 2019 levels.
According to a survey conducted by American Airlines, business travelers were originally banned at 66% of companies in early April in the middle of the virus fears and now the complete travel ban is down to 47% of companies. These numbers support a quicker rebound in the more profitable business travelers than originally feared.
Cash Burn
At the Bernstein conference, American Airlines CFO Derek Kerr made it clear that the airline was on target to reach the $50 million daily cash burn rate in June. In addition, the company is on a path to reduce the cash burn to between $40 million and $45 million with the catch of this number is based on a zero-revenue environment.
The problem with most of the airlines and especially American Airlines is the executives providing worse case cash burn rates excluding ticket sales improving and the Payroll Support Program payments. These worse cases present scenarios where the airline could face bankruptcy risk, but the recent traffic rebound isn’t going to present a zero-revenue environment.
American Airlines could easily see revenues reach 20% of 2019 levels here in June or July providing over $25 million in daily revenues at a time when the cost portion of the cash burn rate was forecast to slip below $50 million. At the same time, the airline has nearly $23 million in daily PSP support until September 30 where the airline is allowed to cut the excess payroll cost covered by the PSP.
Takeaway
The key investor takeaway is that the next catalyst for an airline stock like American Airlines is air passenger traffic returning to 20% of 2019 levels. Once the airlines start including a reasonable rebound in traffic levels into daily cash burn forecasts, the stocks will rally.
American Airlines just dipped back to $18 on fears of a second virus wave. The stock has plenty of upside remaining considering the stock traded at $30 prior to the virus crisis, especially if the company reaches profitability in 2021 despite lower traffic.
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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In the past 30 days, the change in the number of best-performing portfolios holding AAL on TipRanks increased by 5.5% — a pretty massive leap when you think about it. American Airlines Group (AAL) traded far below $10 because the market viewed bankruptcy as a risk. The airline industry is still dealing with Disneyland not opening until July 11, Hawaii requiring a 14-day quarantine and cruise ships not restarting until at least August 1.
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American Airlines Group (AAL) traded far below $10 because the market viewed bankruptcy as a risk. In the past 30 days, the change in the number of best-performing portfolios holding AAL on TipRanks increased by 5.5% — a pretty massive leap when you think about it. These worse cases present scenarios where the airline could face bankruptcy risk, but the recent traffic rebound isn’t going to present a zero-revenue environment.
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American Airlines Group (AAL) traded far below $10 because the market viewed bankruptcy as a risk. In the past 30 days, the change in the number of best-performing portfolios holding AAL on TipRanks increased by 5.5% — a pretty massive leap when you think about it. With traffic already rebounding, the airline is poised to rally further with the industry rebound while investors should now have confidence to buy the airline stock on dips knowing failure isn’t an option in the future.
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American Airlines Group (AAL) traded far below $10 because the market viewed bankruptcy as a risk. In the past 30 days, the change in the number of best-performing portfolios holding AAL on TipRanks increased by 5.5% — a pretty massive leap when you think about it. This gives the stock a “very positive” investor sentiment.
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0f1b6f11-db49-4663-b27c-1d9fa78584a4
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5716.0
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2020-06-10 00:00:00 UTC
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Platinum processing continues at Amplats plant despite repairs
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AAL
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https://www.nasdaq.com/articles/platinum-processing-continues-at-amplats-plant-despite-repairs-2020-06-10
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nan
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nan
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JOHANNESBURG, June 10 (Reuters) - Anglo American Platinum (Amplats) AMSJ.J will still receive concentrate and deliver metal to customers despite the closure of a unit of its Anglo Converter Plant (ACP) last week when a water leak was detected, the company said on Wednesday.
The Johannesburg-listed miner, one of the world's largest platinum producers, last week closed the Phase B unit at the ACP processing and refining plant after detecting a water leak in the high-pressure cooling section.
"[Amplats] will continue to receive concentrate from third parties and joint ventures ... and will continue to deliver metal to customers," the miner said in a statement without providing further detail.
Amplats said that repair work on the single cooler tube at the unit, part of a chain of processing facilities, would be completed next week with no impact expected on full-year refined production guidance of between 3.1 million and 3.6 million platinum group metal (PGM) ounces.
The company last month completed repairs to the Phase B unit in Rustenburg, North West Province, after a blast shut processing facilities and it declared force majeure to suppliers of concentrate.
The repairs enabled the lifting of the force majeure, though repairs to the Phase A unit are not expected to be complete until the latter part of 2020.
The damage to the processing facilities forced Amplats to cut its production outlook in March.
(Reporting by Tanisha Heiberg Editing by David Goodman)
((Tanisha.Heiberg@thomsonreuters.com; +27117753034; Reuters Messaging: tanisha.heiberg.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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The Johannesburg-listed miner, one of the world's largest platinum producers, last week closed the Phase B unit at the ACP processing and refining plant after detecting a water leak in the high-pressure cooling section. Amplats said that repair work on the single cooler tube at the unit, part of a chain of processing facilities, would be completed next week with no impact expected on full-year refined production guidance of between 3.1 million and 3.6 million platinum group metal (PGM) ounces. The company last month completed repairs to the Phase B unit in Rustenburg, North West Province, after a blast shut processing facilities and it declared force majeure to suppliers of concentrate.
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JOHANNESBURG, June 10 (Reuters) - Anglo American Platinum (Amplats) AMSJ.J will still receive concentrate and deliver metal to customers despite the closure of a unit of its Anglo Converter Plant (ACP) last week when a water leak was detected, the company said on Wednesday. The Johannesburg-listed miner, one of the world's largest platinum producers, last week closed the Phase B unit at the ACP processing and refining plant after detecting a water leak in the high-pressure cooling section. Amplats said that repair work on the single cooler tube at the unit, part of a chain of processing facilities, would be completed next week with no impact expected on full-year refined production guidance of between 3.1 million and 3.6 million platinum group metal (PGM) ounces.
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JOHANNESBURG, June 10 (Reuters) - Anglo American Platinum (Amplats) AMSJ.J will still receive concentrate and deliver metal to customers despite the closure of a unit of its Anglo Converter Plant (ACP) last week when a water leak was detected, the company said on Wednesday. Amplats said that repair work on the single cooler tube at the unit, part of a chain of processing facilities, would be completed next week with no impact expected on full-year refined production guidance of between 3.1 million and 3.6 million platinum group metal (PGM) ounces. The company last month completed repairs to the Phase B unit in Rustenburg, North West Province, after a blast shut processing facilities and it declared force majeure to suppliers of concentrate.
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JOHANNESBURG, June 10 (Reuters) - Anglo American Platinum (Amplats) AMSJ.J will still receive concentrate and deliver metal to customers despite the closure of a unit of its Anglo Converter Plant (ACP) last week when a water leak was detected, the company said on Wednesday. The repairs enabled the lifting of the force majeure, though repairs to the Phase A unit are not expected to be complete until the latter part of 2020. The damage to the processing facilities forced Amplats to cut its production outlook in March.
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5717.0
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2020-06-10 00:00:00 UTC
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Wall Street set to open slightly higher ahead of Fed's economic outlook
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AAL
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https://www.nasdaq.com/articles/wall-street-set-to-open-slightly-higher-ahead-of-feds-economic-outlook-2020-06-10
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nan
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By Medha Singh
June 10 (Reuters) - Wall Street's main indexes were set to open slightly higher on Wednesday as focus shifted to a Federal Reserve meeting that will deliver the central bank's first projections on the economy post-coronavirus outbreak.
Investors will also look for clues on how long the central bank plans to maintain its ultra loose policy to support the economy and if it would introduce yield curve control measures after a recent jump in U.S. Treasury yields.
"The economic projections will be particularly instructive in the context of whether Fed policymakers believe a V-shaped recovery is likely, and whether they think the worst is behind the U.S. economy," said Michael Hewson, chief market analyst at CMC Markets UK.
Prospects of an economic rebound, backed by upbeat data, have boosted stocks in recent weeks, with the Nasdaq .IXIC closing at a record high for a second straight session on Tuesday. The S&P 500 .SPX is about 5% away its all-time peak.
At 8:26 a.m. ET, Dow e-minis 1YMcv1 were up 47 points, or 0.17%. S&P 500 e-minis EScv1 were up 10.5 points, or 0.33% and Nasdaq 100 e-minis NQcv1 were up 78.75 points, or 0.79%.
Apple Inc AAPL.O rose 1.2% in premarket trading as two brokerages hiked their price targets on the iPhone maker's shares.
AMC Entertainment Holdings Inc AMC.N rose about 15.5% after the world's largest theater operator said it expects to reopen its theaters globally in July.
Oil majors Exxon Mobil Corp XOM.N and Chevron Corp CVX.N dropped about 1.2%, as oil prices weakened after a rise in U.S. crude inventories raised concerns of oversupply. O/R
Carriers American Airlines Inc AAL.O and United Airlines Holdings UAL.O dropped 3.3% and 5.6%, respectively, as J.P.Morgan analysts said the current pace of rise in U.S. airline stocks cannot be maintained for much longer.
(Reporting by Medha Singh and Devik Jain in Bengaluru; Editing by Sriraj Kalluvila and Uttaresh.V)
((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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O/R Carriers American Airlines Inc AAL.O and United Airlines Holdings UAL.O dropped 3.3% and 5.6%, respectively, as J.P.Morgan analysts said the current pace of rise in U.S. airline stocks cannot be maintained for much longer. By Medha Singh June 10 (Reuters) - Wall Street's main indexes were set to open slightly higher on Wednesday as focus shifted to a Federal Reserve meeting that will deliver the central bank's first projections on the economy post-coronavirus outbreak. Prospects of an economic rebound, backed by upbeat data, have boosted stocks in recent weeks, with the Nasdaq .IXIC closing at a record high for a second straight session on Tuesday.
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O/R Carriers American Airlines Inc AAL.O and United Airlines Holdings UAL.O dropped 3.3% and 5.6%, respectively, as J.P.Morgan analysts said the current pace of rise in U.S. airline stocks cannot be maintained for much longer. By Medha Singh June 10 (Reuters) - Wall Street's main indexes were set to open slightly higher on Wednesday as focus shifted to a Federal Reserve meeting that will deliver the central bank's first projections on the economy post-coronavirus outbreak. S&P 500 e-minis EScv1 were up 10.5 points, or 0.33% and Nasdaq 100 e-minis NQcv1 were up 78.75 points, or 0.79%.
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O/R Carriers American Airlines Inc AAL.O and United Airlines Holdings UAL.O dropped 3.3% and 5.6%, respectively, as J.P.Morgan analysts said the current pace of rise in U.S. airline stocks cannot be maintained for much longer. By Medha Singh June 10 (Reuters) - Wall Street's main indexes were set to open slightly higher on Wednesday as focus shifted to a Federal Reserve meeting that will deliver the central bank's first projections on the economy post-coronavirus outbreak. S&P 500 e-minis EScv1 were up 10.5 points, or 0.33% and Nasdaq 100 e-minis NQcv1 were up 78.75 points, or 0.79%.
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O/R Carriers American Airlines Inc AAL.O and United Airlines Holdings UAL.O dropped 3.3% and 5.6%, respectively, as J.P.Morgan analysts said the current pace of rise in U.S. airline stocks cannot be maintained for much longer. By Medha Singh June 10 (Reuters) - Wall Street's main indexes were set to open slightly higher on Wednesday as focus shifted to a Federal Reserve meeting that will deliver the central bank's first projections on the economy post-coronavirus outbreak. Investors will also look for clues on how long the central bank plans to maintain its ultra loose policy to support the economy and if it would introduce yield curve control measures after a recent jump in U.S. Treasury yields.
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5718.0
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2020-06-10 00:00:00 UTC
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American, Delta say demand uptick helping cash burn; United requiring health checklists
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AAL
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https://www.nasdaq.com/articles/american-delta-say-demand-uptick-helping-cash-burn-united-requiring-health-checklists-2020
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By David Shepardson and Tracy Rucinski
WASHINGTON/CHICAGO, June 10 (Reuters) - American Airlines Group Inc AAL.O and Delta Air Lines Inc DAL.N said on Wednesday 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.
U.S. airlines carried 3 million passengers in April, a staggering 96% decline from April 2019, the Transportation Department said on Wednesday. Total U.S. airline passengers were the lowest since 1974 when the government began collecting monthly data. By comparison, there were 76.1 million total U.S. airline passengers in April 2019.
U.S. airlines have grounded nearly half of all airplanes, canceled hundreds of thousands of flights and the industry is still burning through billions a dollars a month. But many airlines are adding back flights in July as demand modestly rebounds.
Speaking to shareholders at the company's annual meeting, American Airlines Chief Executive Doug Parker said while passenger numbers are improving, they are "still a fraction of what they were last year and particularly internationally."
That makes it difficult to know how many flights it will operate in the fall, when U.S. payroll aid for airlines runs out, and in the summer of 2021.
Still, American and Delta each said their daily cash burn rate was expected to slow to about $40 million in June. American had previously forecast a $50 million-per-day cash burn.
Delta forecast a 90% plunge in second-quarter revenue and warned it would need to renegotiate its debt agreements to avoid a default next year.
To restore confidence in flying, United Airlines UAL.O said on Wednesday it is now requiring all passengers to complete a health self-assessment during their check-in process, based on recommendations from the Cleveland Clinic.
Chicago-based United's "Ready-to-Fly" checklist will ask passengers to confirm they have not experienced COVID-19-related symptoms in the 14 days prior to flying and to agree to wearing a face covering.
The Transportation Department said U.S. airlines carried about 2.8 million domestic passengers and 132,000 international passengers in April. International passengers fell 99% over April 2019 as the United States imposed flight restrictions on many international visitors.
Passenger traffic has recently risen from April lows and fell only 85% in the week ending June 7, while total flights are down 72%.
Airlines for America, an industry trade group, said demand for future air travel remains down 82% and revenue for future flights is down 92%.
(Reporting by David Shepardson in Washington and Tracy Rucinski in Chicago Editing by Chris Reese and Matthew Lewis)
((David.Shepardson@thomsonreuters.com +1 202 898-8324))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson and Tracy Rucinski WASHINGTON/CHICAGO, June 10 (Reuters) - American Airlines Group Inc AAL.O and Delta Air Lines Inc DAL.N said on Wednesday 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. Speaking to shareholders at the company's annual meeting, American Airlines Chief Executive Doug Parker said while passenger numbers are improving, they are "still a fraction of what they were last year and particularly internationally." To restore confidence in flying, United Airlines UAL.O said on Wednesday it is now requiring all passengers to complete a health self-assessment during their check-in process, based on recommendations from the Cleveland Clinic.
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By David Shepardson and Tracy Rucinski WASHINGTON/CHICAGO, June 10 (Reuters) - American Airlines Group Inc AAL.O and Delta Air Lines Inc DAL.N said on Wednesday 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. Still, American and Delta each said their daily cash burn rate was expected to slow to about $40 million in June. The Transportation Department said U.S. airlines carried about 2.8 million domestic passengers and 132,000 international passengers in April.
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By David Shepardson and Tracy Rucinski WASHINGTON/CHICAGO, June 10 (Reuters) - American Airlines Group Inc AAL.O and Delta Air Lines Inc DAL.N said on Wednesday 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. U.S. airlines carried 3 million passengers in April, a staggering 96% decline from April 2019, the Transportation Department said on Wednesday. The Transportation Department said U.S. airlines carried about 2.8 million domestic passengers and 132,000 international passengers in April.
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By David Shepardson and Tracy Rucinski WASHINGTON/CHICAGO, June 10 (Reuters) - American Airlines Group Inc AAL.O and Delta Air Lines Inc DAL.N said on Wednesday 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. By comparison, there were 76.1 million total U.S. airline passengers in April 2019. American had previously forecast a $50 million-per-day cash burn.
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2020-06-10 00:00:00 UTC
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Airline Stocks – A Great Buy, or A Lot of Hot Air?
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AAL
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https://www.nasdaq.com/articles/airline-stocks-a-great-buy-or-a-lot-of-hot-air-2020-06-10
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Source: Shutterstock
A month ago, airline stocks were struggling…to put it mildly. Six weeks into their sell-off, the group was still hovering around the March lows – after COVID-19 grounded flights and caused the industry basket, U.S. Global Jets ETF (NYSEARCA:JETS), to shed half its value in 11 trading days.
Frankly, airlines are still down in the dumps, compared to where they were as recently as February. But the situation is evolving rapidly. So, with American Airlines (NASDAQ:AAL) leading the way back into the skies – and back into stock portfolios – let’s take a look through the same lens I scrutinize any stock before it makes it onto, say, my Growth Investor Buy List.
In early May, some analysts argued that first-quarter results were “largely irrelevant.” I countered that, even before they released those earnings, major airlines were already a “Sell” in my Portfolio Grader. That includes Southwest Airlines (NYSE:LUV): a company I’ve generally admired, and which once brought me a 194% profit thanks to my stock-picking system.
Life is starting to resume, and that’s a huge relief. But from a public health perspective, COVID-19 is still out there…and it’s hard enough to keep from getting sick on a crowded flight, with everyone breathing recycled air.
So, we’ve got to balance the bullish case – flights restarting, government bailouts – with the not-so-bullish: risk of further outbreaks, and oftentimes, mediocre fundamentals to begin with!
7 Pharmaceutical Stocks to Buy for Post-Pandemic Gains
Earnings are, well, the bottom line. The great buys I’m finding now are the companies growing earnings – and really “earning” them, by growing sales first – AND doing this over the long haul. Otherwise, the stock is best avoided.
Plus, there’s another often-neglected factor that’s becoming increasingly important in the “COVID economy.” Let’s take a look with my Portfolio Grader:
I run my Portfolio Grader scans each Saturday. That way, I get a week’s worth of market data before making the latest call: Buy, Sell or Hold.
So, this latest scan on June 6 included a sharp two-day rally among airlines. By Thursday, June 4, the four biggest U.S. airlines (UAL, AAL, DAL and LUV) had announced at least 25% more flights in June than in May. That day alone, airline stocks jumped 15% — even 41%, in the case of AAL, which is ramping up the most.
And, even so, all of these airline stocks earned a “D” for their Quantitative Grade, my proprietary measure of institutional buying pressure on Wall Street.
As you’ll also notice above, none of the Fundamental Scores were strong, either. Overall, the group is a D-rated “Sell.”
Since AAL stock is pulling away from the pack, so to speak, we’ll focus on that Report Card in particular:
AAL) Report Card - Portfolio Grader" width="420" height="458">
The reality is, investors are bidding up a stock that gets an “F” for most of its fundamentals. It’s not growing sales; that’s been pretty hard to do lately, I’ll admit. It has a poor track record of Earnings Surprises. And, with an “F” for Cash Flow as well, its cash reserves are woefully insufficient to ride out the storm.
I noted in May that AAL is taking on $11 billion in debt to keep the (overhead) lights on. But it’s not just airlines. I’ve pointed this out for other sectors, too, and it bears repeating: Economic recoveries don’t happen overnight – even in this unprecedented situation. The public health risk is still out there. Companies need a good, solid “rainy day fund” for just such a time as this one.
However, not one of the major airlines I just showed you rates higher than an “F” or a “D” for Cash Flow.
So, just keep in mind: Sometimes there’s a difference between an “essential business” (which airlines undoubtedly are) and a safe, long-term investment.
That’s especially true when you’re looking for safety and growth – and plenty of it, as I do in crafting my Growth Investor recommendations. I always want the best buys, and I’m willing to jettison even my favorite stocks when they don’t fit with the proven strategy I’ve relied on throughout my career.
So, if you’d like to see what makes the grade now, click here to try my Growth Investor service and see my latest buy and sell recommendations.
Louis Navellier had an unconventional start, as a grad student who accidentally built a market-beating stock system — with returns rivaling even Warren Buffett. In his latest feat, Louis discovered the “Master Key” to profiting from the biggest tech revolution of this (or any) generation. Louis Navellier may hold some of the aforementioned securities in one or more of his newsletters.
The post Airline Stocks – A Great Buy, or A Lot of Hot Air? 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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So, with American Airlines (NASDAQ:AAL) leading the way back into the skies – and back into stock portfolios – let’s take a look through the same lens I scrutinize any stock before it makes it onto, say, my Growth Investor Buy List. By Thursday, June 4, the four biggest U.S. airlines (UAL, AAL, DAL and LUV) had announced at least 25% more flights in June than in May. That day alone, airline stocks jumped 15% — even 41%, in the case of AAL, which is ramping up the most.
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Overall, the group is a D-rated “Sell.” Since AAL stock is pulling away from the pack, so to speak, we’ll focus on that Report Card in particular: AAL) Report Card - Portfolio Grader" width="420" height="458"> The reality is, investors are bidding up a stock that gets an “F” for most of its fundamentals. So, with American Airlines (NASDAQ:AAL) leading the way back into the skies – and back into stock portfolios – let’s take a look through the same lens I scrutinize any stock before it makes it onto, say, my Growth Investor Buy List. By Thursday, June 4, the four biggest U.S. airlines (UAL, AAL, DAL and LUV) had announced at least 25% more flights in June than in May.
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So, with American Airlines (NASDAQ:AAL) leading the way back into the skies – and back into stock portfolios – let’s take a look through the same lens I scrutinize any stock before it makes it onto, say, my Growth Investor Buy List. Overall, the group is a D-rated “Sell.” Since AAL stock is pulling away from the pack, so to speak, we’ll focus on that Report Card in particular: AAL) Report Card - Portfolio Grader" width="420" height="458"> The reality is, investors are bidding up a stock that gets an “F” for most of its fundamentals. By Thursday, June 4, the four biggest U.S. airlines (UAL, AAL, DAL and LUV) had announced at least 25% more flights in June than in May.
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That day alone, airline stocks jumped 15% — even 41%, in the case of AAL, which is ramping up the most. So, with American Airlines (NASDAQ:AAL) leading the way back into the skies – and back into stock portfolios – let’s take a look through the same lens I scrutinize any stock before it makes it onto, say, my Growth Investor Buy List. By Thursday, June 4, the four biggest U.S. airlines (UAL, AAL, DAL and LUV) had announced at least 25% more flights in June than in May.
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2020-06-10 00:00:00 UTC
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Why Airline Shares Are Down Again Today
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https://www.nasdaq.com/articles/why-airline-shares-are-down-again-today-2020-06-10
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What happened
Airline stocks, after boasting substantial gains last week, have done a U-turn in recent days, with a prominent Wall Street analyst warning on Wednesday that last week's rally on potential good news about travel demand appears overdone.
Shares of Spirit Airlines (NYSE: SAVE) traded down more than 13% as of 12:30 p.m. Wednesday, with shares of JetBlue Airways (NASDAQ: JBLU) and Alaska Air Group (NYSE: ALK) each down 10%. The news wasn't much better for holders of other airlines, with shares of Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), United Airlines Holdings (NASDAQ: UAL), Hawaiian Holdings (NASDAQ: HA), and Allegiant Travel (NASDAQ: ALGT) all down at least 7%.
Southwest Airlines (NYSE: LUV) was the relative winner of the group, down only 3% as of 12:30 p.m..
So what
Airline stocks lost at least half of their value in the early days of the pandemic, as travel demand all but evaporated and investors were worried bankruptcies were inevitable. A round of aggressive fundraising, including $50 billion in government assistance through the CARES Act, helped stabilize the stocks, but the markets are now playing a waiting game, looking to see if revenue will return before the cash runs out.
Image source: Getty Images.
The stocks rallied last week on encouraging signs we are seeing the early stages of a rebound. Transportation Security Administration airport workers are screening more passengers today than they have since mid-March, and airlines are beginning to add to their late-summer schedules based on improving demand. The result was a momentary euphoria for airline investors, with American shares gaining 40% in a single session.
In a note out Wednesday, JP Morgan analyst Jamie Baker said he does not believe "the current pace of equity ascent can be potentially maintained for much longer," citing a lack of upcoming catalysts and fear that what we are seeing now is pent-up summer vacation demand that is unlikely to sustain into the fall.
Baker worries that if airlines bring schedules back down in the fall when vacation season ends, that is likely to have negative implications for the stocks. He also notes that while airlines are currently getting subsidies from the government to help meet payroll, those provisions expire in September, and airlines could be forced to cut employees.
Baker lowered JetBlue to underweight from neutral and lowered United to neutral from overweight. He also brought down his price targets on Alaska, Southwest, Spirit, and Delta.
On Wednesday, Delta also reminded investors with that while conditions appear to be improving, they are still far from normal. The airline expects second-quarter revenue to be down 90% year over year, and is still working toward becoming cash-flow breakeven by year's end.
Now what
For airlines, conditions are neither as bad as they were two months ago nor as good as they were in January. Even if we assume no second wave of the pandemic, the airlines expect they will need years to fully recover from the crisis. If there is a second wave, all bets are off about the airlines' ability to survive on the cash they have.
For investors with a high tolerance for risk and a lot of patience, I do think it is safe to take small positions in airlines. But given the risk, it is best to stick to high-quality names like Southwest and Delta, and be aware that these stocks are likely to remain volatile in the months to come.
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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The news wasn't much better for holders of other airlines, with shares of Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), United Airlines Holdings (NASDAQ: UAL), Hawaiian Holdings (NASDAQ: HA), and Allegiant Travel (NASDAQ: ALGT) all down at least 7%. A round of aggressive fundraising, including $50 billion in government assistance through the CARES Act, helped stabilize the stocks, but the markets are now playing a waiting game, looking to see if revenue will return before the cash runs out. Transportation Security Administration airport workers are screening more passengers today than they have since mid-March, and airlines are beginning to add to their late-summer schedules based on improving demand.
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The news wasn't much better for holders of other airlines, with shares of Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), United Airlines Holdings (NASDAQ: UAL), Hawaiian Holdings (NASDAQ: HA), and Allegiant Travel (NASDAQ: ALGT) all down at least 7%. Shares of Spirit Airlines (NYSE: SAVE) traded down more than 13% as of 12:30 p.m. Wednesday, with shares of JetBlue Airways (NASDAQ: JBLU) and Alaska Air Group (NYSE: ALK) each down 10%. The Motley Fool recommends Alaska Air Group, Delta Air Lines, Hawaiian Holdings, JetBlue Airways, and Southwest Airlines.
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The news wasn't much better for holders of other airlines, with shares of Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), United Airlines Holdings (NASDAQ: UAL), Hawaiian Holdings (NASDAQ: HA), and Allegiant Travel (NASDAQ: ALGT) all down at least 7%. 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 recommends Alaska Air Group, Delta Air Lines, Hawaiian Holdings, JetBlue Airways, and Southwest Airlines.
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The news wasn't much better for holders of other airlines, with shares of Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), United Airlines Holdings (NASDAQ: UAL), Hawaiian Holdings (NASDAQ: HA), and Allegiant Travel (NASDAQ: ALGT) all down at least 7%. Even if we assume no second wave of the pandemic, the airlines expect they will need years to fully recover from the crisis. * 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!
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2020-06-10 00:00:00 UTC
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White House works to move stalled airline contact tracing plan -sources
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https://www.nasdaq.com/articles/white-house-works-to-move-stalled-airline-contact-tracing-plan-sources-2020-06-10
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By David Shepardson
WASHINGTON, June 10 (Reuters) - The White House wants a plan in place by Sept. 1 for airlines to collect contact tracing information from U.S.-bound international passengers, but will not immediately implement a Centers for Disease Control and Prevention (CDC) proposal, three people briefed on the matter said on Wednesday.
The Trump administration convened a high-level White House meeting on Tuesday that included Homeland Security Secretary Chad Wolf, Transportation Secretary Elaine Chao, and other senior officials. The White House tasked a interagency working group with adopting an interim solution by June 30 and ahead of any potential coronavirus second wave.
A debate over how data should be collected from passengers in order to quickly identify and contact people exposed to the coronavirus has dragged on for months without resolution.
In February, the CDC issued an internal final rule that aimed 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.
That has not been enforced. Airlines strongly protested, saying it was unworkable. They argued they could not provide such information, especially from passengers booking tickets through third-party websites.
Airline groups instead backed the setting up of a website and mobile application for passengers to send their contact information directly to the CDC.
The interagency group will work with technical experts at industry association Airlines for America, the CDC and others on an interim solution that could take effect by Sept. 1 and will consider the airline proposal, the sources said.
If no workable plan is identified, the administration will likely move ahead with the existing CDC plan, sources said.
Airlines for America, a group representing American Airlines AAL.O, United Airlines UAL.O, Delta Air Lines DAL.N and others, said earlier this week 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."
The White House and Transportation Department declined to comment. The CDC and DHS did not respond to requests for comment.
(Reporting by David Shepardson, Editing by Rosalba O'Brien)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Airlines for America, a group representing American Airlines AAL.O, United Airlines UAL.O, Delta Air Lines DAL.N and others, said earlier this week 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." By David Shepardson WASHINGTON, June 10 (Reuters) - The White House wants a plan in place by Sept. 1 for airlines to collect contact tracing information from U.S.-bound international passengers, but will not immediately implement a Centers for Disease Control and Prevention (CDC) proposal, three people briefed on the matter said on Wednesday. The White House tasked a interagency working group with adopting an interim solution by June 30 and ahead of any potential coronavirus second wave.
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Airlines for America, a group representing American Airlines AAL.O, United Airlines UAL.O, Delta Air Lines DAL.N and others, said earlier this week 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." By David Shepardson WASHINGTON, June 10 (Reuters) - The White House wants a plan in place by Sept. 1 for airlines to collect contact tracing information from U.S.-bound international passengers, but will not immediately implement a Centers for Disease Control and Prevention (CDC) proposal, three people briefed on the matter said on Wednesday. The White House tasked a interagency working group with adopting an interim solution by June 30 and ahead of any potential coronavirus second wave.
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Airlines for America, a group representing American Airlines AAL.O, United Airlines UAL.O, Delta Air Lines DAL.N and others, said earlier this week 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." By David Shepardson WASHINGTON, June 10 (Reuters) - The White House wants a plan in place by Sept. 1 for airlines to collect contact tracing information from U.S.-bound international passengers, but will not immediately implement a Centers for Disease Control and Prevention (CDC) proposal, three people briefed on the matter said on Wednesday. In February, the CDC issued an internal final rule that aimed 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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Airlines for America, a group representing American Airlines AAL.O, United Airlines UAL.O, Delta Air Lines DAL.N and others, said earlier this week 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." By David Shepardson WASHINGTON, June 10 (Reuters) - The White House wants a plan in place by Sept. 1 for airlines to collect contact tracing information from U.S.-bound international passengers, but will not immediately implement a Centers for Disease Control and Prevention (CDC) proposal, three people briefed on the matter said on Wednesday. The interagency group will work with technical experts at industry association Airlines for America, the CDC and others on an interim solution that could take effect by Sept. 1 and will consider the airline proposal, the sources said.
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b224df06-2a0c-4e52-bfe2-13c86feced9e
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5722.0
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2020-06-09 00:00:00 UTC
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Why These Retailers Surged Monday
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AAL
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https://www.nasdaq.com/articles/why-these-retailers-surged-monday-2020-06-09
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nan
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nan
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What happened
Shares of Camping World holdings (NYSE: CWH), Signet Jewelers (NYSE: SIG), and GameStop (NYSE: GME), various brick and mortar retail chains, are all jumping at least 12% higher Monday as many stocks traded on the hopes of the economy reopening and a possible new discovery about the spread of COVID-19.
So what
There are a number of recent driving forces that have many travel, transportation, entertainment, and hotel stocks, among many others, moving higher. One development was a shockingly strong May jobs report when 2.5 million nonfarm payrolls were added, far better than the forecast for 7.5 million job losses. Another positive bit of news came from Cheesecake Factory, which noted its recently reopened stores had already recaptured about 75% of prior-year's sales. Even the beaten-down airline industry had positive news when American Airlines Group said it would boost July flights 75% compared to June.
All of those developments suggest that the economy could be prepared to rebound sooner rather than later. That's great news for retailers of all kind, especially brick and mortar retailers, such as Camping World, Signet Jewelers, and GameStop. There could be further reason for optimism Monday as World Health Organization officials announced COVID-19 patients without symptoms aren't driving the spread of the virus. Officials noted that asymptomatic spread can occur, but it's not the main way the virus is being transmitted. The reason this is important is because if asymptomatic spread isn't the main driver, that could remove the biggest reason for social distancing and thus provide a boost of energy to the economy.
Image source: Getty Images.
Now what
It's great news for brick and mortar retailers that there is life in the restaurant and transportation industries, and it's even better for the broader economy that asymptomatic spread might not be the driving force behind COVID-19. Camping World specifically seems to be in a good spot compared to most retailers, as many people are looking to the great outdoors as a vacation destination and an escape while still maintaining social distances. But Signet would benefit hugely from a return to store traffic, and GameStop would have a fighting chance in its stores, compared to gamers only ordering online or downloading content.
Ultimately, investors should take these pops and drops in stock price with a grain of salt and also understand that while the economy might be seeing light at the end of this COVID-19 tunnel, there will still be some brutal financial pain felt when companies report second-quarter results. But if recent developments hold true, it appears the worst could be behind us, and that's all investors need to hear for retail stocks to surge higher.
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David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and GameStop 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
Daniel Miller has no position in any of the stocks mentioned. The Motley Fool recommends Camping World Holdings. 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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Now what It's great news for brick and mortar retailers that there is life in the restaurant and transportation industries, and it's even better for the broader economy that asymptomatic spread might not be the driving force behind COVID-19. Camping World specifically seems to be in a good spot compared to most retailers, as many people are looking to the great outdoors as a vacation destination and an escape while still maintaining social distances. Ultimately, investors should take these pops and drops in stock price with a grain of salt and also understand that while the economy might be seeing light at the end of this COVID-19 tunnel, there will still be some brutal financial pain felt when companies report second-quarter results.
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What happened Shares of Camping World holdings (NYSE: CWH), Signet Jewelers (NYSE: SIG), and GameStop (NYSE: GME), various brick and mortar retail chains, are all jumping at least 12% higher Monday as many stocks traded on the hopes of the economy reopening and a possible new discovery about the spread of COVID-19. That's great news for retailers of all kind, especially brick and mortar retailers, such as Camping World, Signet Jewelers, and GameStop. The Motley Fool recommends Camping World Holdings.
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What happened Shares of Camping World holdings (NYSE: CWH), Signet Jewelers (NYSE: SIG), and GameStop (NYSE: GME), various brick and mortar retail chains, are all jumping at least 12% higher Monday as many stocks traded on the hopes of the economy reopening and a possible new discovery about the spread of COVID-19. That's great news for retailers of all kind, especially brick and mortar retailers, such as Camping World, Signet Jewelers, and GameStop. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Daniel Miller has no position in any of the stocks mentioned.
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Now what It's great news for brick and mortar retailers that there is life in the restaurant and transportation industries, and it's even better for the broader economy that asymptomatic spread might not be the driving force behind COVID-19. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Daniel Miller has no position in any of the stocks mentioned. The Motley Fool recommends Camping World Holdings.
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5213cdcc-bd1a-4b9f-ad8c-5f37a09ba208
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5723.0
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2020-06-09 00:00:00 UTC
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Stock Market Wrap-Up: The Airline Rally Could Be Over
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AAL
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https://www.nasdaq.com/articles/stock-market-wrap-up%3A-the-airline-rally-could-be-over-2020-06-09
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nan
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nan
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Stocks largely gave up ground on Tuesday, falling back but giving up only a small portion of their recent gains over the past couple of weeks. Some market participants are waiting to see whether the Federal Reserve will signal any change in policy when it concludes its two-day meeting on Wednesday, especially in light of the massive rebound in stocks that paints an optimistic picture of the economy's future. The Dow Jones Industrial Average (DJINDICES: ^DJI) and S&P 500 (SNPINDEX: ^GSPC) were both down as much as 1%, but the Nasdaq Composite (NASDAQINDEX: ^IXIC) managed to buck the downtrend and gain ground.
Today's stock market
INDEX
PERCENTAGE CHANGE
POINT CHANGE
Dow
(1.09%)
(300)
S&P 500
(0.78%)
(25)
Nasdaq Composite
0.29%
29
Data source: Yahoo! Finance.
Some of the hardest-hit stocks on Tuesday were those that had performed the best in the recent rally. Airlines were among the biggest decliners, and some industry watchers fear that even though their stocks remain well below where they were before the coronavirus pandemic struck, it could be tough for air carriers to make a lot more progress from here in the short run.
Giving back some altitude
The losses for airline stocks spanned the entire industry. Among major carriers, American Airlines Group (NASDAQ: AAL) saw the biggest drop at 9%, but United Airlines Holdings (NASDAQ: UAL) and Delta Air Lines (NYSE: DAL) had to deal with 8% declines. Southwest Airlines (NYSE: LUV) saw its stock fall 6%.
Image source: Southwest Airlines.
Smaller carriers saw losses in generally the same neighborhood. Spirit Airlines (NYSE: SAVE) got hit especially hard with an 11% drop, but other stocks were generally down 7% to 9% on the day.
It's important to put today's move in the context of the huge gains that airline stocks have posted lately. On the positive side, the number of travelers taking to the skies has started to move higher, allowing companies to start offering more flights and expand their schedules to some extent. Signs of increased future demand are also making shareholders of airlines more optimistic about their ability to rebound over the long run.
Yet today's move seemed to recognize the harsh reality for airlines. Even with recent improvements, travel isn't likely to get anywhere close to where it was before the pandemic in the near future. Some analysts believe it could take years for traffic levels to regain their lost ground.
What will airlines look like?
The bigger question is what air travel is going to look like after traffic returns to normal. At least so far, no one seems ready to consider returning to the old normal of jam-packed aircraft with hardly a seat to spare. Yet leaving middle seats empty means accepting at best 67% load factors, which is far below where airlines were before the pandemic.
The economics of air travel could require airlines to respond by boosting fares. What impact that will have on the traveling public is highly uncertain, especially given that tens of millions of people are unemployed and many others are making do with jobs that are still getting disrupted by stay-at-home orders and other coronavirus-related measures. At the same time, cost-cutting measures could mean huge layoffs for airlines, potentially adding negative publicity after airlines took billions of dollars of federal aid to stay in the air.
Owners of airline stocks can expect plenty of turbulence in the months ahead, and at least for now, the big rally in airlines could be over. In the end, how airlines adapt to changing conditions will determine whether their stocks remain good investments for long-term investors.
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 owns shares of and recommends Spirit Airlines. The Motley Fool recommends Delta Air Lines and Southwest Airlines. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Among major carriers, American Airlines Group (NASDAQ: AAL) saw the biggest drop at 9%, but United Airlines Holdings (NASDAQ: UAL) and Delta Air Lines (NYSE: DAL) had to deal with 8% declines. Some market participants are waiting to see whether the Federal Reserve will signal any change in policy when it concludes its two-day meeting on Wednesday, especially in light of the massive rebound in stocks that paints an optimistic picture of the economy's future. Airlines were among the biggest decliners, and some industry watchers fear that even though their stocks remain well below where they were before the coronavirus pandemic struck, it could be tough for air carriers to make a lot more progress from here in the short run.
|
Among major carriers, American Airlines Group (NASDAQ: AAL) saw the biggest drop at 9%, but United Airlines Holdings (NASDAQ: UAL) and Delta Air Lines (NYSE: DAL) had to deal with 8% declines. 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.
|
Among major carriers, American Airlines Group (NASDAQ: AAL) saw the biggest drop at 9%, but United Airlines Holdings (NASDAQ: UAL) and Delta Air Lines (NYSE: DAL) had to deal with 8% declines. Owners of airline stocks can expect plenty of turbulence in the months ahead, and at least for now, the big rally in airlines could be over. 10 stocks we like better than Southwest Airlines When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen.
|
Among major carriers, American Airlines Group (NASDAQ: AAL) saw the biggest drop at 9%, but United Airlines Holdings (NASDAQ: UAL) and Delta Air Lines (NYSE: DAL) had to deal with 8% declines. What will airlines look like? The bigger question is what air travel is going to look like after traffic returns to normal.
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1b3743b7-0979-4e28-8b79-55d9f87daad8
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5724.0
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2020-06-09 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Vroom, Amazon, Applied DNA
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AAL
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-vroom-amazon-applied-dna-2020-06-09
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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 S&P 500 and Dow Jones indexes fell on Tuesday, while the tech-heavy Nasdaq hit a record high for the third straight session, as investors eyed this week's Federal Reserve meeting for signs on how it views a restarting economy. .N
At 13:00 ET, the Dow Jones Industrial Average .DJI was down 0.73% at 27,372.21. The S&P 500 .SPX was down 0.57% at 3,213.91 and the Nasdaq Composite .IXIC was up 0.52% at 9,976.129. The top three S&P 500 .PG.INX percentage gainers: ** Advanced Micro Devices , up 5.4% ** Dexcom , up 4.5% ** SBA Communications Corp , up 3.9% The top three S&P 500 .PL.INX percentage losers: ** Marathon Oil , down 10% ** Concho Resources , down 9.9% ** American Airlines Group , down 9.8% The top three NYSE .PG.N percentage gainers: ** Planet Green Holdings , up 32.5% ** Microsectors US Big Oil Index , up 14.4% ** ishrares Currently Hedged MscI EAFE Small-Cap , up 13.8% The top three NYSE .PL.N percentage losers: ** Chesapeake Energy , down 54.4% ** Whiting Petroleum Corp , down 22.1% ** Tupperware Brands , down 21.6% The top three Nasdaq .PG.O percentage gainers: ** Immuron Ltd , up 596.2% ** Vroom Inc , up 109.4% ** Fangdd Netwrk Group , up 93% The top three Nasdaq .PL.O percentage losers: ** Fossil Group Inc , down 28.9% ** Genius Brands International , down 25.5% ** Conns Inc , down 22.8% ** Chesapeake Energy Corp CHK.N: down 54.4%
BUZZ-Shares slide premarket after meteoric gains in last session ** Continental Resources CLR.N: down 9.4%
BUZZ-MKM Partners downgrades on valuation concerns ** Adobe Inc ADBE.O: up 0.4%
BUZZ-Cowen & Co increases PT on higher sector valuation ** Chesapeake Energy Corp CHK.N: down 54.4% ** Hertz Global Holding HTZ.N: down 12.7% ** Whiting Petroleum corp WLL.N: down 22.0%
BUZZ-Back to earth: Hertz, Whiting, Chesapeake ** Boxlight corp BOXL.O: down 20.1%
BUZZ-Plunges on discounted, dilutive share sale offer ** EBay Inc EBAY.O: up 2.1%
BUZZ-Wells Fargo hikes PT, upgrades on strong e-commerce growth ** Stitch Fix Inc SFIX.O: down 5.9%
BUZZ-Falls on Q3 revenue miss ** Yext Inc YEXT.N: down 1.8%
BUZZ-Berenberg downgrades to "hold" as execution, cost-cut strategy not clear ** Macy's Inc M.N: down 4.1%
BUZZ-Rises as reopened stores outperform retailer's expectations ** Aqua Metals Inc AQMS.O: up 10.8%
BUZZ-Shines as CEO raises stake in company ** Blackstone Mortgage Trust BXMT.N: down 6.6%
BUZZ-Falls on $282 mln stock offer ** Uber Technologies Inc UBER.N: down 0.2% ** Lyft Inc LYFT.O: down 2.8%
BUZZ-Wedbush raises PT on Uber, Lyft as demand improves ** AMC Entertainment Holdings AMC.N: down 5.5%
BUZZ-Falls as California caps attendance at cinemas ** Lovesac Co LOVE.O: up 25.0%
BUZZ-Soars on Q1 revenue jump, smaller loss ** GrubHub Inc GRUB.N: up 1.4%
BUZZ-Jefferies hikes PT on reports of possible M&A ** Spirit Realty Capital Inc SRC.N: down 10.2%
BUZZ-Drops on 8 mln share offering ** Tesla Inc TSLA.O: up 0.3%
BUZZ-Pares losses on billionaire investor's comment ** Aimmune Therapeutics Inc AIMT.O: down 0.6%
BUZZ-Street View: Post-pandemic challenges remain for Aimmune peanut allergy therapy ** OpGen Inc OPGN.O: up 8.0%
BUZZ-Jumps as device rapidly detects bacterial infection in COVID-19 patients ** Immuron Ltd IMRN.O: up 596.2%
BUZZ-Up on plans to start mid-stage studies testing diarrhea drug ** Signet Jewelers SIG.N: down 14.3%
BUZZ-Falls as Q1 sales miss, announces hundreds of store closures ** Ceridian HCM Holding Inc CDAY.N: down 8.9%
BUZZ-HR software firm falls from record high as sponsor, CEO sell shares ** Cerecor Inc CERC.O: down 14.6%
BUZZ-Biopharma Cerecor falls on $33 mln equity raise ** Genasys Inc GNSS.O: up 3.8%
BUZZ-Rises on $1.9 mln follow-on order from U.S. Army ** MoneyGram International MGI.O: up 15.3%
BUZZ-Gains as digital transactions jump over two-fold in May ** Tiffany & Co TIF.N: up 1.7%
BUZZ-Says it's in compliance with debt covenants, shares rise ** RealReal Inc REAL.O: up 2.7%
BUZZ-Rises on recovery signals ** Fate Therapeutics FATE.O: up 22.6%
BUZZ-Surges on upsized equity raise; JNJ to buy shares ** MarketAxess MKTX.O: up 0.7%
BUZZ-Rises as Credit Suisse raises PT, EPS estimate ** Occidental Petroleum corp OXY.N: down 6.3%
BUZZ-BofA upgrades to 'buy' on oil price rebound, co's cash-saving plans ** Anthem Inc ANTM.N: down 1.8%
BUZZ-Stephens hikes PT after co expects to generate 70% of adj EPS in H1 ** Vroom Inc VRM.O: up 109.4%
BUZZ-Vroom races higher in IPO debut ** Amazon.com AMZN.O: up 3.7%
BUZZ-Rises as brokerages see better Q2 on strong online demand ** Urstadt Biddle Properties UBA.N: down 16.9%
BUZZ-Falls on dividend cut, weaker revenue ** Brown-Forman BFb.N: up 2.8%
BUZZ-Reverses course as management points to recovery ** Applied DNA APDN.O: up 1.1%
BUZZ-Rises on $40,000 grant for COVID-19 program
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 0.15%
Consumer Discretionary
.SPLRCD
up 0.41%
Consumer Staples
.SPLRCS
down 0.93%
Energy
.SPNY
down 3.47%
Financial
.SPSY
down 2.09%
Health
.SPXHC
down 0.32%
Industrial
.SPLRCI
down 2.16%
Information Technology
.SPLRCT
up 0.57%
Materials
.SPLRCM
down 0.97%
Real Estate
.SPLRCR
down 0.97%
Utilities
.SPLRCU
down 2.57%
(Reporting 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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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 S&P 500 and Dow Jones indexes fell on Tuesday, while the tech-heavy Nasdaq hit a record high for the third straight session, as investors eyed this week's Federal Reserve meeting for signs on how it views a restarting economy. The top three S&P 500 .PG.INX percentage gainers: ** Advanced Micro Devices , up 5.4% ** Dexcom , up 4.5% ** SBA Communications Corp , up 3.9% The top three S&P 500 .PL.INX percentage losers: ** Marathon Oil , down 10% ** Concho Resources , down 9.9% ** American Airlines Group , down 9.8% The top three NYSE .PG.N percentage gainers: ** Planet Green Holdings , up 32.5% ** Microsectors US Big Oil Index , up 14.4% ** ishrares Currently Hedged MscI EAFE Small-Cap , up 13.8% The top three NYSE .PL.N percentage losers: ** Chesapeake Energy , down 54.4% ** Whiting Petroleum Corp , down 22.1% ** Tupperware Brands , down 21.6% The top three Nasdaq .PG.O percentage gainers: ** Immuron Ltd , up 596.2% ** Vroom Inc , up 109.4% ** Fangdd Netwrk Group , up 93% The top three Nasdaq .PL.O percentage losers: ** Fossil Group Inc , down 28.9% ** Genius Brands International , down 25.5% ** Conns Inc , down 22.8% ** Chesapeake Energy Corp CHK.N: down 54.4% BUZZ-Shares slide premarket after meteoric gains in last session ** Continental Resources CLR.N: down 9.4% BUZZ-MKM Partners downgrades on valuation concerns ** Adobe Inc ADBE.O: up 0.4% BUZZ-Cowen & Co increases PT on higher sector valuation ** Chesapeake Energy Corp CHK.N: down 54.4% ** Hertz Global Holding HTZ.N: down 12.7% ** Whiting Petroleum corp WLL.N: down 22.0% BUZZ-Back to earth: Hertz, Whiting, Chesapeake ** Boxlight corp BOXL.O: down 20.1% BUZZ-Plunges on discounted, dilutive share sale offer ** EBay Inc EBAY.O: up 2.1% BUZZ-Wells Fargo hikes PT, upgrades on strong e-commerce growth ** Stitch Fix Inc SFIX.O: down 5.9% BUZZ-Falls on Q3 revenue miss ** Yext Inc YEXT.N: down 1.8% BUZZ-Berenberg downgrades to "hold" as execution, cost-cut strategy not clear ** Macy's Inc M.N: down 4.1% BUZZ-Rises as reopened stores outperform retailer's expectations ** Aqua Metals Inc AQMS.O: up 10.8% BUZZ-Shines as CEO raises stake in company ** Blackstone Mortgage Trust BXMT.N: down 6.6% BUZZ-Falls on $282 mln stock offer ** Uber Technologies Inc UBER.N: down 0.2% ** Lyft Inc LYFT.O: down 2.8% BUZZ-Wedbush raises PT on Uber, Lyft as demand improves ** AMC Entertainment Holdings AMC.N: down 5.5% BUZZ-Falls as California caps attendance at cinemas ** Lovesac Co LOVE.O: up 25.0% BUZZ-Soars on Q1 revenue jump, smaller loss ** GrubHub Inc GRUB.N: up 1.4% BUZZ-Jefferies hikes PT on reports of possible M&A ** Spirit Realty Capital Inc SRC.N: down 10.2% BUZZ-Drops on 8 mln share offering ** Tesla Inc TSLA.O: up 0.3% BUZZ-Pares losses on billionaire investor's comment ** Aimmune Therapeutics Inc AIMT.O: down 0.6% BUZZ-Street View: Post-pandemic challenges remain for Aimmune peanut allergy therapy ** OpGen Inc OPGN.O: up 8.0% BUZZ-Jumps as device rapidly detects bacterial infection in COVID-19 patients ** Immuron Ltd IMRN.O: up 596.2% BUZZ-Up on plans to start mid-stage studies testing diarrhea drug ** Signet Jewelers SIG.N: down 14.3% BUZZ-Falls as Q1 sales miss, announces hundreds of store closures ** Ceridian HCM Holding Inc CDAY.N: down 8.9% BUZZ-HR software firm falls from record high as sponsor, CEO sell shares ** Cerecor Inc CERC.O: down 14.6% BUZZ-Biopharma Cerecor falls on $33 mln equity raise ** Genasys Inc GNSS.O: up 3.8% BUZZ-Rises on $1.9 mln follow-on order from U.S. Army ** MoneyGram International MGI.O: up 15.3% BUZZ-Gains as digital transactions jump over two-fold in May ** Tiffany & Co TIF.N: up 1.7% BUZZ-Says it's in compliance with debt covenants, shares rise ** RealReal Inc REAL.O: up 2.7% BUZZ-Rises on recovery signals ** Fate Therapeutics FATE.O: up 22.6% BUZZ-Surges on upsized equity raise; JNJ to buy shares ** MarketAxess MKTX.O: up 0.7% BUZZ-Rises as Credit Suisse raises PT, EPS estimate ** Occidental Petroleum corp OXY.N: down 6.3% BUZZ-BofA upgrades to 'buy' on oil price rebound, co's cash-saving plans ** Anthem Inc ANTM.N: down 1.8% BUZZ-Stephens hikes PT after co expects to generate 70% of adj EPS in H1 ** Vroom Inc VRM.O: up 109.4% BUZZ-Vroom races higher in IPO debut ** Amazon.com AMZN.O: up 3.7% BUZZ-Rises as brokerages see better Q2 on strong online demand ** Urstadt Biddle Properties UBA.N: down 16.9% BUZZ-Falls on dividend cut, weaker revenue ** Brown-Forman BFb.N: up 2.8% BUZZ-Reverses course as management points to recovery ** Applied DNA APDN.O: up 1.1% BUZZ-Rises on $40,000 grant for COVID-19 program The 11 major S&P 500 sectors: Communication Services down 2.57% (Reporting 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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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 S&P 500 and Dow Jones indexes fell on Tuesday, while the tech-heavy Nasdaq hit a record high for the third straight session, as investors eyed this week's Federal Reserve meeting for signs on how it views a restarting economy. .N At 13:00 ET, the Dow Jones Industrial Average .DJI was down 0.73% at 27,372.21. The top three S&P 500 .PG.INX percentage gainers: ** Advanced Micro Devices , up 5.4% ** Dexcom , up 4.5% ** SBA Communications Corp , up 3.9% The top three S&P 500 .PL.INX percentage losers: ** Marathon Oil , down 10% ** Concho Resources , down 9.9% ** American Airlines Group , down 9.8% The top three NYSE .PG.N percentage gainers: ** Planet Green Holdings , up 32.5% ** Microsectors US Big Oil Index , up 14.4% ** ishrares Currently Hedged MscI EAFE Small-Cap , up 13.8% The top three NYSE .PL.N percentage losers: ** Chesapeake Energy , down 54.4% ** Whiting Petroleum Corp , down 22.1% ** Tupperware Brands , down 21.6% The top three Nasdaq .PG.O percentage gainers: ** Immuron Ltd , up 596.2% ** Vroom Inc , up 109.4% ** Fangdd Netwrk Group , up 93% The top three Nasdaq .PL.O percentage losers: ** Fossil Group Inc , down 28.9% ** Genius Brands International , down 25.5% ** Conns Inc , down 22.8% ** Chesapeake Energy Corp CHK.N: down 54.4% BUZZ-Shares slide premarket after meteoric gains in last session ** Continental Resources CLR.N: down 9.4% BUZZ-MKM Partners downgrades on valuation concerns ** Adobe Inc ADBE.O: up 0.4% BUZZ-Cowen & Co increases PT on higher sector valuation ** Chesapeake Energy Corp CHK.N: down 54.4% ** Hertz Global Holding HTZ.N: down 12.7% ** Whiting Petroleum corp WLL.N: down 22.0% BUZZ-Back to earth: Hertz, Whiting, Chesapeake ** Boxlight corp BOXL.O: down 20.1% BUZZ-Plunges on discounted, dilutive share sale offer ** EBay Inc EBAY.O: up 2.1% BUZZ-Wells Fargo hikes PT, upgrades on strong e-commerce growth ** Stitch Fix Inc SFIX.O: down 5.9% BUZZ-Falls on Q3 revenue miss ** Yext Inc YEXT.N: down 1.8% BUZZ-Berenberg downgrades to "hold" as execution, cost-cut strategy not clear ** Macy's Inc M.N: down 4.1% BUZZ-Rises as reopened stores outperform retailer's expectations ** Aqua Metals Inc AQMS.O: up 10.8% BUZZ-Shines as CEO raises stake in company ** Blackstone Mortgage Trust BXMT.N: down 6.6% BUZZ-Falls on $282 mln stock offer ** Uber Technologies Inc UBER.N: down 0.2% ** Lyft Inc LYFT.O: down 2.8% BUZZ-Wedbush raises PT on Uber, Lyft as demand improves ** AMC Entertainment Holdings AMC.N: down 5.5% BUZZ-Falls as California caps attendance at cinemas ** Lovesac Co LOVE.O: up 25.0% BUZZ-Soars on Q1 revenue jump, smaller loss ** GrubHub Inc GRUB.N: up 1.4% BUZZ-Jefferies hikes PT on reports of possible M&A ** Spirit Realty Capital Inc SRC.N: down 10.2% BUZZ-Drops on 8 mln share offering ** Tesla Inc TSLA.O: up 0.3% BUZZ-Pares losses on billionaire investor's comment ** Aimmune Therapeutics Inc AIMT.O: down 0.6% BUZZ-Street View: Post-pandemic challenges remain for Aimmune peanut allergy therapy ** OpGen Inc OPGN.O: up 8.0% BUZZ-Jumps as device rapidly detects bacterial infection in COVID-19 patients ** Immuron Ltd IMRN.O: up 596.2% BUZZ-Up on plans to start mid-stage studies testing diarrhea drug ** Signet Jewelers SIG.N: down 14.3% BUZZ-Falls as Q1 sales miss, announces hundreds of store closures ** Ceridian HCM Holding Inc CDAY.N: down 8.9% BUZZ-HR software firm falls from record high as sponsor, CEO sell shares ** Cerecor Inc CERC.O: down 14.6% BUZZ-Biopharma Cerecor falls on $33 mln equity raise ** Genasys Inc GNSS.O: up 3.8% BUZZ-Rises on $1.9 mln follow-on order from U.S. Army ** MoneyGram International MGI.O: up 15.3% BUZZ-Gains as digital transactions jump over two-fold in May ** Tiffany & Co TIF.N: up 1.7% BUZZ-Says it's in compliance with debt covenants, shares rise ** RealReal Inc REAL.O: up 2.7% BUZZ-Rises on recovery signals ** Fate Therapeutics FATE.O: up 22.6% BUZZ-Surges on upsized equity raise; JNJ to buy shares ** MarketAxess MKTX.O: up 0.7% BUZZ-Rises as Credit Suisse raises PT, EPS estimate ** Occidental Petroleum corp OXY.N: down 6.3% BUZZ-BofA upgrades to 'buy' on oil price rebound, co's cash-saving plans ** Anthem Inc ANTM.N: down 1.8% BUZZ-Stephens hikes PT after co expects to generate 70% of adj EPS in H1 ** Vroom Inc VRM.O: up 109.4% BUZZ-Vroom races higher in IPO debut ** Amazon.com AMZN.O: up 3.7% BUZZ-Rises as brokerages see better Q2 on strong online demand ** Urstadt Biddle Properties UBA.N: down 16.9% BUZZ-Falls on dividend cut, weaker revenue ** Brown-Forman BFb.N: up 2.8% BUZZ-Reverses course as management points to recovery ** Applied DNA APDN.O: up 1.1% BUZZ-Rises on $40,000 grant for COVID-19 program 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 S&P 500 and Dow Jones indexes fell on Tuesday, while the tech-heavy Nasdaq hit a record high for the third straight session, as investors eyed this week's Federal Reserve meeting for signs on how it views a restarting economy. The top three S&P 500 .PG.INX percentage gainers: ** Advanced Micro Devices , up 5.4% ** Dexcom , up 4.5% ** SBA Communications Corp , up 3.9% The top three S&P 500 .PL.INX percentage losers: ** Marathon Oil , down 10% ** Concho Resources , down 9.9% ** American Airlines Group , down 9.8% The top three NYSE .PG.N percentage gainers: ** Planet Green Holdings , up 32.5% ** Microsectors US Big Oil Index , up 14.4% ** ishrares Currently Hedged MscI EAFE Small-Cap , up 13.8% The top three NYSE .PL.N percentage losers: ** Chesapeake Energy , down 54.4% ** Whiting Petroleum Corp , down 22.1% ** Tupperware Brands , down 21.6% The top three Nasdaq .PG.O percentage gainers: ** Immuron Ltd , up 596.2% ** Vroom Inc , up 109.4% ** Fangdd Netwrk Group , up 93% The top three Nasdaq .PL.O percentage losers: ** Fossil Group Inc , down 28.9% ** Genius Brands International , down 25.5% ** Conns Inc , down 22.8% ** Chesapeake Energy Corp CHK.N: down 54.4% BUZZ-Shares slide premarket after meteoric gains in last session ** Continental Resources CLR.N: down 9.4% BUZZ-MKM Partners downgrades on valuation concerns ** Adobe Inc ADBE.O: up 0.4% BUZZ-Cowen & Co increases PT on higher sector valuation ** Chesapeake Energy Corp CHK.N: down 54.4% ** Hertz Global Holding HTZ.N: down 12.7% ** Whiting Petroleum corp WLL.N: down 22.0% BUZZ-Back to earth: Hertz, Whiting, Chesapeake ** Boxlight corp BOXL.O: down 20.1% BUZZ-Plunges on discounted, dilutive share sale offer ** EBay Inc EBAY.O: up 2.1% BUZZ-Wells Fargo hikes PT, upgrades on strong e-commerce growth ** Stitch Fix Inc SFIX.O: down 5.9% BUZZ-Falls on Q3 revenue miss ** Yext Inc YEXT.N: down 1.8% BUZZ-Berenberg downgrades to "hold" as execution, cost-cut strategy not clear ** Macy's Inc M.N: down 4.1% BUZZ-Rises as reopened stores outperform retailer's expectations ** Aqua Metals Inc AQMS.O: up 10.8% BUZZ-Shines as CEO raises stake in company ** Blackstone Mortgage Trust BXMT.N: down 6.6% BUZZ-Falls on $282 mln stock offer ** Uber Technologies Inc UBER.N: down 0.2% ** Lyft Inc LYFT.O: down 2.8% BUZZ-Wedbush raises PT on Uber, Lyft as demand improves ** AMC Entertainment Holdings AMC.N: down 5.5% BUZZ-Falls as California caps attendance at cinemas ** Lovesac Co LOVE.O: up 25.0% BUZZ-Soars on Q1 revenue jump, smaller loss ** GrubHub Inc GRUB.N: up 1.4% BUZZ-Jefferies hikes PT on reports of possible M&A ** Spirit Realty Capital Inc SRC.N: down 10.2% BUZZ-Drops on 8 mln share offering ** Tesla Inc TSLA.O: up 0.3% BUZZ-Pares losses on billionaire investor's comment ** Aimmune Therapeutics Inc AIMT.O: down 0.6% BUZZ-Street View: Post-pandemic challenges remain for Aimmune peanut allergy therapy ** OpGen Inc OPGN.O: up 8.0% BUZZ-Jumps as device rapidly detects bacterial infection in COVID-19 patients ** Immuron Ltd IMRN.O: up 596.2% BUZZ-Up on plans to start mid-stage studies testing diarrhea drug ** Signet Jewelers SIG.N: down 14.3% BUZZ-Falls as Q1 sales miss, announces hundreds of store closures ** Ceridian HCM Holding Inc CDAY.N: down 8.9% BUZZ-HR software firm falls from record high as sponsor, CEO sell shares ** Cerecor Inc CERC.O: down 14.6% BUZZ-Biopharma Cerecor falls on $33 mln equity raise ** Genasys Inc GNSS.O: up 3.8% BUZZ-Rises on $1.9 mln follow-on order from U.S. Army ** MoneyGram International MGI.O: up 15.3% BUZZ-Gains as digital transactions jump over two-fold in May ** Tiffany & Co TIF.N: up 1.7% BUZZ-Says it's in compliance with debt covenants, shares rise ** RealReal Inc REAL.O: up 2.7% BUZZ-Rises on recovery signals ** Fate Therapeutics FATE.O: up 22.6% BUZZ-Surges on upsized equity raise; JNJ to buy shares ** MarketAxess MKTX.O: up 0.7% BUZZ-Rises as Credit Suisse raises PT, EPS estimate ** Occidental Petroleum corp OXY.N: down 6.3% BUZZ-BofA upgrades to 'buy' on oil price rebound, co's cash-saving plans ** Anthem Inc ANTM.N: down 1.8% BUZZ-Stephens hikes PT after co expects to generate 70% of adj EPS in H1 ** Vroom Inc VRM.O: up 109.4% BUZZ-Vroom races higher in IPO debut ** Amazon.com AMZN.O: up 3.7% BUZZ-Rises as brokerages see better Q2 on strong online demand ** Urstadt Biddle Properties UBA.N: down 16.9% BUZZ-Falls on dividend cut, weaker revenue ** Brown-Forman BFb.N: up 2.8% BUZZ-Reverses course as management points to recovery ** Applied DNA APDN.O: up 1.1% BUZZ-Rises on $40,000 grant for COVID-19 program The 11 major S&P 500 sectors: Communication Services up 0.15% Consumer Discretionary
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.N At 13:00 ET, the Dow Jones Industrial Average .DJI was down 0.73% at 27,372.21. The S&P 500 .SPX was down 0.57% at 3,213.91 and the Nasdaq Composite .IXIC was up 0.52% at 9,976.129. The top three S&P 500 .PG.INX percentage gainers: ** Advanced Micro Devices , up 5.4% ** Dexcom , up 4.5% ** SBA Communications Corp , up 3.9% The top three S&P 500 .PL.INX percentage losers: ** Marathon Oil , down 10% ** Concho Resources , down 9.9% ** American Airlines Group , down 9.8% The top three NYSE .PG.N percentage gainers: ** Planet Green Holdings , up 32.5% ** Microsectors US Big Oil Index , up 14.4% ** ishrares Currently Hedged MscI EAFE Small-Cap , up 13.8% The top three NYSE .PL.N percentage losers: ** Chesapeake Energy , down 54.4% ** Whiting Petroleum Corp , down 22.1% ** Tupperware Brands , down 21.6% The top three Nasdaq .PG.O percentage gainers: ** Immuron Ltd , up 596.2% ** Vroom Inc , up 109.4% ** Fangdd Netwrk Group , up 93% The top three Nasdaq .PL.O percentage losers: ** Fossil Group Inc , down 28.9% ** Genius Brands International , down 25.5% ** Conns Inc , down 22.8% ** Chesapeake Energy Corp CHK.N: down 54.4% BUZZ-Shares slide premarket after meteoric gains in last session ** Continental Resources CLR.N: down 9.4% BUZZ-MKM Partners downgrades on valuation concerns ** Adobe Inc ADBE.O: up 0.4% BUZZ-Cowen & Co increases PT on higher sector valuation ** Chesapeake Energy Corp CHK.N: down 54.4% ** Hertz Global Holding HTZ.N: down 12.7% ** Whiting Petroleum corp WLL.N: down 22.0% BUZZ-Back to earth: Hertz, Whiting, Chesapeake ** Boxlight corp BOXL.O: down 20.1% BUZZ-Plunges on discounted, dilutive share sale offer ** EBay Inc EBAY.O: up 2.1% BUZZ-Wells Fargo hikes PT, upgrades on strong e-commerce growth ** Stitch Fix Inc SFIX.O: down 5.9% BUZZ-Falls on Q3 revenue miss ** Yext Inc YEXT.N: down 1.8% BUZZ-Berenberg downgrades to "hold" as execution, cost-cut strategy not clear ** Macy's Inc M.N: down 4.1% BUZZ-Rises as reopened stores outperform retailer's expectations ** Aqua Metals Inc AQMS.O: up 10.8% BUZZ-Shines as CEO raises stake in company ** Blackstone Mortgage Trust BXMT.N: down 6.6% BUZZ-Falls on $282 mln stock offer ** Uber Technologies Inc UBER.N: down 0.2% ** Lyft Inc LYFT.O: down 2.8% BUZZ-Wedbush raises PT on Uber, Lyft as demand improves ** AMC Entertainment Holdings AMC.N: down 5.5% BUZZ-Falls as California caps attendance at cinemas ** Lovesac Co LOVE.O: up 25.0% BUZZ-Soars on Q1 revenue jump, smaller loss ** GrubHub Inc GRUB.N: up 1.4% BUZZ-Jefferies hikes PT on reports of possible M&A ** Spirit Realty Capital Inc SRC.N: down 10.2% BUZZ-Drops on 8 mln share offering ** Tesla Inc TSLA.O: up 0.3% BUZZ-Pares losses on billionaire investor's comment ** Aimmune Therapeutics Inc AIMT.O: down 0.6% BUZZ-Street View: Post-pandemic challenges remain for Aimmune peanut allergy therapy ** OpGen Inc OPGN.O: up 8.0% BUZZ-Jumps as device rapidly detects bacterial infection in COVID-19 patients ** Immuron Ltd IMRN.O: up 596.2% BUZZ-Up on plans to start mid-stage studies testing diarrhea drug ** Signet Jewelers SIG.N: down 14.3% BUZZ-Falls as Q1 sales miss, announces hundreds of store closures ** Ceridian HCM Holding Inc CDAY.N: down 8.9% BUZZ-HR software firm falls from record high as sponsor, CEO sell shares ** Cerecor Inc CERC.O: down 14.6% BUZZ-Biopharma Cerecor falls on $33 mln equity raise ** Genasys Inc GNSS.O: up 3.8% BUZZ-Rises on $1.9 mln follow-on order from U.S. Army ** MoneyGram International MGI.O: up 15.3% BUZZ-Gains as digital transactions jump over two-fold in May ** Tiffany & Co TIF.N: up 1.7% BUZZ-Says it's in compliance with debt covenants, shares rise ** RealReal Inc REAL.O: up 2.7% BUZZ-Rises on recovery signals ** Fate Therapeutics FATE.O: up 22.6% BUZZ-Surges on upsized equity raise; JNJ to buy shares ** MarketAxess MKTX.O: up 0.7% BUZZ-Rises as Credit Suisse raises PT, EPS estimate ** Occidental Petroleum corp OXY.N: down 6.3% BUZZ-BofA upgrades to 'buy' on oil price rebound, co's cash-saving plans ** Anthem Inc ANTM.N: down 1.8% BUZZ-Stephens hikes PT after co expects to generate 70% of adj EPS in H1 ** Vroom Inc VRM.O: up 109.4% BUZZ-Vroom races higher in IPO debut ** Amazon.com AMZN.O: up 3.7% BUZZ-Rises as brokerages see better Q2 on strong online demand ** Urstadt Biddle Properties UBA.N: down 16.9% BUZZ-Falls on dividend cut, weaker revenue ** Brown-Forman BFb.N: up 2.8% BUZZ-Reverses course as management points to recovery ** Applied DNA APDN.O: up 1.1% BUZZ-Rises on $40,000 grant for COVID-19 program The 11 major S&P 500 sectors: Communication Services
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5725.0
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2020-06-09 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Fate Therapeutics, Tiffany, MoneyGram
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AAL
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-fate-therapeutics-tiffany-moneygram-2020-06-09
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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 S&P 500 and Dow Jones indexes fell on Tuesday while the tech-heavy Nasdaq hit a record high for the third straight session as investors eyed this week's Federal Reserve meeting for signs on how it views a restarting economy. .N
At 11:30 ET, the Dow Jones Industrial Average .DJI was down 0.89% at 27,325.94. The S&P 500 .SPX was down 0.68% at 3,210.28 and the Nasdaq Composite .IXIC was up 0.24% at 9,948.739. The top three S&P 500 .PG.INX percentage gainers: ** Advanced Micro Devices , up 4.5% ** Vertex Pharmaceuticals Inc , up 3.3% ** Facebook Inc , up 3.3% The top three S&P 500 .PL.INX percentage losers: ** Coty Inc , down 10.8% ** American Airlines Group , down 10.1% ** Marathon Oil , down 9.1% The top three NYSE .PG.N percentage gainers: ** MicroSectors US Big Oil Index , up 17.3% ** Medley Llc , up 13.3% ** Direxion Daily S&P 500 High Beta Bear , up 12.9% The top three NYSE .PL.N percentage losers: ** Tupperware Brands , down 20.4% ** Whiting Petroleum Corp , down 19.5% ** Tenneco , down 19% The top three Nasdaq .PG.O percentage gainers: ** Immuron Ltd , up 423.4% ** Liberty Trpadvisor Holdings , up 111.4% ** Nebula Acquisition Corp , up 76.6% The top three Nasdaq .PL.O percentage losers: ** Fossil Group Inc , down 27% ** Piedmont Lithium , down 22.3% ** Genius Brands International , down 19% ** Continental Resources CLR.N: down 10.4%
BUZZ-MKM Partners downgrades on valuation concerns ** Adobe Inc ADBE.O: up 0.1%
BUZZ-Cowen & Co increases PT on higher sector valuation ** Hertz Global Holding HTZ.N: down 8.1% ** Whiting Petroleum corp WLL.N: down 19.5%
BUZZ-Back to earth: Hertz, Whiting, Chesapeake ** Boxlight corp BOXL.O: down 18.9%
BUZZ-Plunges on discounted, dilutive share sale offer ** EBay Inc EBAY.O: up 1.7%
BUZZ-Wells Fargo hikes PT, upgrades on strong e-commerce growth ** Stitch Fix Inc SFIX.O: down 7.3%
BUZZ-Falls on Q3 revenue miss ** Yext Inc YEXT.N: down 3.5%
BUZZ-Berenberg downgrades to "hold" as execution, cost-cut strategy not clear ** Macy's Inc M.N: up 0.7%
BUZZ-Rises as reopened stores outperform retailer's expectations ** Aqua Metals Inc AQMS.O: up 17.5%
BUZZ-Shines as CEO raises stake in company ** Blackstone Mortgage Trust BXMT.N: down 6.7%
BUZZ-Falls on $282 mln stock offer ** Uber Technologies Inc UBER.N: down 0.5% ** Lyft Inc LYFT.O: down 4.5%
BUZZ-Wedbush raises PT on Uber, Lyft as demand improves ** AMC Entertainment Holdings AMC.N: down 5.7%
BUZZ-Falls as California caps attendance at cinemas ** Lovesac Co LOVE.O: up 30.6%
BUZZ-Soars on Q1 revenue jump, smaller loss ** GrubHub Inc GRUB.N: up 2.3%
BUZZ-Jefferies hikes PT on reports of possible M&A ** Spirit Realty Capital Inc SRC.N: down 9.7%
BUZZ-Drops on 8 mln share offering ** Tesla Inc TSLA.O: down 0.7%
BUZZ-Pares losses on billionaire investor's comment ** Aimmune Therapeutics Inc AIMT.O: down 2.9%
BUZZ-Street View: Post-pandemic challenges remain for Aimmune peanut allergy therapy ** OpGen Inc OPGN.O: up 9.4%
BUZZ-Jumps as device rapidly detects bacterial infection in COVID-19 patients ** Immuron Ltd IMRN.O: up 423.4%
BUZZ-Up on plans to start mid-stage studies testing diarrhea drug ** Signet Jewelers SIG.N: down 13.6%
BUZZ-Falls as Q1 sales miss, announces hundreds of store closures ** Ceridian HCM Holding Inc CDAY.N: down 7.3%
BUZZ-HR software firm falls from record high as sponsor, CEO sell shares ** Cerecor Inc CERC.O: down 15.5%
BUZZ-Biopharma Cerecor falls on $33 mln equity raise ** Genasys Inc GNSS.O: up 3.1%
BUZZ-Rises on $1.9 mln follow-on order from U.S. Army ** Immunic Inc IMUX.O: down 1.0%
BUZZ-Up on FDA approval for trial of COVID-19 treatment ** MoneyGram International MGI.O: up 9.9%
BUZZ-Gains as digital transactions jump over two-fold in May ** OPKO Health OPK.O: up 0.5%
BUZZ-Rises as growth hormone deficiency drug meets main goal in Japanese study ** Tiffany & Co TIF.N: up 2.1%
BUZZ-Says it's in compliance with debt covenants, shares rise ** RealReal Inc REAL.O: up 4.5%
BUZZ-Rises on recovery signals ** Fate Therapeutics FATE.O: up 23.3%
BUZZ-Surges on upsized equity raise; JNJ to buy shares ** MarketAxess MKTX.O: up 0.5%
BUZZ-Rises as Credit Suisse raises PT, EPS estimate ** Occidental Petroleum corp OXY.N: down 8.1%
BUZZ-BofA upgrades to 'buy' on oil price rebound, co's cash-saving plans ** Anthem Inc ANTM.N: down 1.5%
BUZZ-Stephens hikes PT after co expects to generate 70% of adj EPS in H1
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 0.27%
Consumer Discretionary
.SPLRCD
up 0.06%
Consumer Staples
.SPLRCS
down 0.84%
Energy
.SPNY
down 3.50%
Financial
.SPSY
down 2.62%
Health
.SPXHC
down 0.18%
Industrial
.SPLRCI
down 2.30%
Information Technology
.SPLRCT
up 0.35%
Materials
.SPLRCM
down 0.90%
Real Estate
.SPLRCR
down 1.00%
Utilities
.SPLRCU
down 2.38%
(Reporting 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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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 S&P 500 and Dow Jones indexes fell on Tuesday while the tech-heavy Nasdaq hit a record high for the third straight session as investors eyed this week's Federal Reserve meeting for signs on how it views a restarting economy. The top three S&P 500 .PG.INX percentage gainers: ** Advanced Micro Devices , up 4.5% ** Vertex Pharmaceuticals Inc , up 3.3% ** Facebook Inc , up 3.3% The top three S&P 500 .PL.INX percentage losers: ** Coty Inc , down 10.8% ** American Airlines Group , down 10.1% ** Marathon Oil , down 9.1% The top three NYSE .PG.N percentage gainers: ** MicroSectors US Big Oil Index , up 17.3% ** Medley Llc , up 13.3% ** Direxion Daily S&P 500 High Beta Bear , up 12.9% The top three NYSE .PL.N percentage losers: ** Tupperware Brands , down 20.4% ** Whiting Petroleum Corp , down 19.5% ** Tenneco , down 19% The top three Nasdaq .PG.O percentage gainers: ** Immuron Ltd , up 423.4% ** Liberty Trpadvisor Holdings , up 111.4% ** Nebula Acquisition Corp , up 76.6% The top three Nasdaq .PL.O percentage losers: ** Fossil Group Inc , down 27% ** Piedmont Lithium , down 22.3% ** Genius Brands International , down 19% ** Continental Resources CLR.N: down 10.4% BUZZ-MKM Partners downgrades on valuation concerns ** Adobe Inc ADBE.O: up 0.1% BUZZ-Cowen & Co increases PT on higher sector valuation ** Hertz Global Holding HTZ.N: down 8.1% ** Whiting Petroleum corp WLL.N: down 19.5% BUZZ-Back to earth: Hertz, Whiting, Chesapeake ** Boxlight corp BOXL.O: down 18.9% BUZZ-Plunges on discounted, dilutive share sale offer ** EBay Inc EBAY.O: up 1.7% BUZZ-Wells Fargo hikes PT, upgrades on strong e-commerce growth ** Stitch Fix Inc SFIX.O: down 7.3% BUZZ-Falls on Q3 revenue miss ** Yext Inc YEXT.N: down 3.5% BUZZ-Berenberg downgrades to "hold" as execution, cost-cut strategy not clear ** Macy's Inc M.N: up 0.7% BUZZ-Rises as reopened stores outperform retailer's expectations ** Aqua Metals Inc AQMS.O: up 17.5% BUZZ-Shines as CEO raises stake in company ** Blackstone Mortgage Trust BXMT.N: down 6.7% BUZZ-Falls on $282 mln stock offer ** Uber Technologies Inc UBER.N: down 0.5% ** Lyft Inc LYFT.O: down 4.5% BUZZ-Wedbush raises PT on Uber, Lyft as demand improves ** AMC Entertainment Holdings AMC.N: down 5.7% BUZZ-Falls as California caps attendance at cinemas ** Lovesac Co LOVE.O: up 30.6% BUZZ-Soars on Q1 revenue jump, smaller loss ** GrubHub Inc GRUB.N: up 2.3% BUZZ-Jefferies hikes PT on reports of possible M&A ** Spirit Realty Capital Inc SRC.N: down 9.7% BUZZ-Drops on 8 mln share offering ** Tesla Inc TSLA.O: down 0.7% BUZZ-Pares losses on billionaire investor's comment ** Aimmune Therapeutics Inc AIMT.O: down 2.9% BUZZ-Street View: Post-pandemic challenges remain for Aimmune peanut allergy therapy ** OpGen Inc OPGN.O: up 9.4% BUZZ-Jumps as device rapidly detects bacterial infection in COVID-19 patients ** Immuron Ltd IMRN.O: up 423.4% BUZZ-Up on plans to start mid-stage studies testing diarrhea drug ** Signet Jewelers SIG.N: down 13.6% BUZZ-Falls as Q1 sales miss, announces hundreds of store closures ** Ceridian HCM Holding Inc CDAY.N: down 7.3% BUZZ-HR software firm falls from record high as sponsor, CEO sell shares ** Cerecor Inc CERC.O: down 15.5% BUZZ-Biopharma Cerecor falls on $33 mln equity raise ** Genasys Inc GNSS.O: up 3.1% BUZZ-Rises on $1.9 mln follow-on order from U.S. Army ** Immunic Inc IMUX.O: down 1.0% BUZZ-Up on FDA approval for trial of COVID-19 treatment ** MoneyGram International MGI.O: up 9.9% BUZZ-Gains as digital transactions jump over two-fold in May ** OPKO Health OPK.O: up 0.5% BUZZ-Rises as growth hormone deficiency drug meets main goal in Japanese study ** Tiffany & Co TIF.N: up 2.1% BUZZ-Says it's in compliance with debt covenants, shares rise ** RealReal Inc REAL.O: up 4.5% BUZZ-Rises on recovery signals ** Fate Therapeutics FATE.O: up 23.3% BUZZ-Surges on upsized equity raise; JNJ to buy shares ** MarketAxess MKTX.O: up 0.5% BUZZ-Rises as Credit Suisse raises PT, EPS estimate ** Occidental Petroleum corp OXY.N: down 8.1% BUZZ-BofA upgrades to 'buy' on oil price rebound, co's cash-saving plans ** Anthem Inc ANTM.N: down 1.5% BUZZ-Stephens hikes PT after co expects to generate 70% of adj EPS in H1 The 11 major S&P 500 sectors: Communication Services down 2.38% (Reporting 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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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 S&P 500 and Dow Jones indexes fell on Tuesday while the tech-heavy Nasdaq hit a record high for the third straight session as investors eyed this week's Federal Reserve meeting for signs on how it views a restarting economy. .N At 11:30 ET, the Dow Jones Industrial Average .DJI was down 0.89% at 27,325.94. The top three S&P 500 .PG.INX percentage gainers: ** Advanced Micro Devices , up 4.5% ** Vertex Pharmaceuticals Inc , up 3.3% ** Facebook Inc , up 3.3% The top three S&P 500 .PL.INX percentage losers: ** Coty Inc , down 10.8% ** American Airlines Group , down 10.1% ** Marathon Oil , down 9.1% The top three NYSE .PG.N percentage gainers: ** MicroSectors US Big Oil Index , up 17.3% ** Medley Llc , up 13.3% ** Direxion Daily S&P 500 High Beta Bear , up 12.9% The top three NYSE .PL.N percentage losers: ** Tupperware Brands , down 20.4% ** Whiting Petroleum Corp , down 19.5% ** Tenneco , down 19% The top three Nasdaq .PG.O percentage gainers: ** Immuron Ltd , up 423.4% ** Liberty Trpadvisor Holdings , up 111.4% ** Nebula Acquisition Corp , up 76.6% The top three Nasdaq .PL.O percentage losers: ** Fossil Group Inc , down 27% ** Piedmont Lithium , down 22.3% ** Genius Brands International , down 19% ** Continental Resources CLR.N: down 10.4% BUZZ-MKM Partners downgrades on valuation concerns ** Adobe Inc ADBE.O: up 0.1% BUZZ-Cowen & Co increases PT on higher sector valuation ** Hertz Global Holding HTZ.N: down 8.1% ** Whiting Petroleum corp WLL.N: down 19.5% BUZZ-Back to earth: Hertz, Whiting, Chesapeake ** Boxlight corp BOXL.O: down 18.9% BUZZ-Plunges on discounted, dilutive share sale offer ** EBay Inc EBAY.O: up 1.7% BUZZ-Wells Fargo hikes PT, upgrades on strong e-commerce growth ** Stitch Fix Inc SFIX.O: down 7.3% BUZZ-Falls on Q3 revenue miss ** Yext Inc YEXT.N: down 3.5% BUZZ-Berenberg downgrades to "hold" as execution, cost-cut strategy not clear ** Macy's Inc M.N: up 0.7% BUZZ-Rises as reopened stores outperform retailer's expectations ** Aqua Metals Inc AQMS.O: up 17.5% BUZZ-Shines as CEO raises stake in company ** Blackstone Mortgage Trust BXMT.N: down 6.7% BUZZ-Falls on $282 mln stock offer ** Uber Technologies Inc UBER.N: down 0.5% ** Lyft Inc LYFT.O: down 4.5% BUZZ-Wedbush raises PT on Uber, Lyft as demand improves ** AMC Entertainment Holdings AMC.N: down 5.7% BUZZ-Falls as California caps attendance at cinemas ** Lovesac Co LOVE.O: up 30.6% BUZZ-Soars on Q1 revenue jump, smaller loss ** GrubHub Inc GRUB.N: up 2.3% BUZZ-Jefferies hikes PT on reports of possible M&A ** Spirit Realty Capital Inc SRC.N: down 9.7% BUZZ-Drops on 8 mln share offering ** Tesla Inc TSLA.O: down 0.7% BUZZ-Pares losses on billionaire investor's comment ** Aimmune Therapeutics Inc AIMT.O: down 2.9% BUZZ-Street View: Post-pandemic challenges remain for Aimmune peanut allergy therapy ** OpGen Inc OPGN.O: up 9.4% BUZZ-Jumps as device rapidly detects bacterial infection in COVID-19 patients ** Immuron Ltd IMRN.O: up 423.4% BUZZ-Up on plans to start mid-stage studies testing diarrhea drug ** Signet Jewelers SIG.N: down 13.6% BUZZ-Falls as Q1 sales miss, announces hundreds of store closures ** Ceridian HCM Holding Inc CDAY.N: down 7.3% BUZZ-HR software firm falls from record high as sponsor, CEO sell shares ** Cerecor Inc CERC.O: down 15.5% BUZZ-Biopharma Cerecor falls on $33 mln equity raise ** Genasys Inc GNSS.O: up 3.1% BUZZ-Rises on $1.9 mln follow-on order from U.S. Army ** Immunic Inc IMUX.O: down 1.0% BUZZ-Up on FDA approval for trial of COVID-19 treatment ** MoneyGram International MGI.O: up 9.9% BUZZ-Gains as digital transactions jump over two-fold in May ** OPKO Health OPK.O: up 0.5% BUZZ-Rises as growth hormone deficiency drug meets main goal in Japanese study ** Tiffany & Co TIF.N: up 2.1% BUZZ-Says it's in compliance with debt covenants, shares rise ** RealReal Inc REAL.O: up 4.5% BUZZ-Rises on recovery signals ** Fate Therapeutics FATE.O: up 23.3% BUZZ-Surges on upsized equity raise; JNJ to buy shares ** MarketAxess MKTX.O: up 0.5% BUZZ-Rises as Credit Suisse raises PT, EPS estimate ** Occidental Petroleum corp OXY.N: down 8.1% BUZZ-BofA upgrades to 'buy' on oil price rebound, co's cash-saving plans ** Anthem Inc ANTM.N: down 1.5% BUZZ-Stephens hikes PT after co expects to generate 70% of adj EPS in H1 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 S&P 500 and Dow Jones indexes fell on Tuesday while the tech-heavy Nasdaq hit a record high for the third straight session as investors eyed this week's Federal Reserve meeting for signs on how it views a restarting economy. The top three S&P 500 .PG.INX percentage gainers: ** Advanced Micro Devices , up 4.5% ** Vertex Pharmaceuticals Inc , up 3.3% ** Facebook Inc , up 3.3% The top three S&P 500 .PL.INX percentage losers: ** Coty Inc , down 10.8% ** American Airlines Group , down 10.1% ** Marathon Oil , down 9.1% The top three NYSE .PG.N percentage gainers: ** MicroSectors US Big Oil Index , up 17.3% ** Medley Llc , up 13.3% ** Direxion Daily S&P 500 High Beta Bear , up 12.9% The top three NYSE .PL.N percentage losers: ** Tupperware Brands , down 20.4% ** Whiting Petroleum Corp , down 19.5% ** Tenneco , down 19% The top three Nasdaq .PG.O percentage gainers: ** Immuron Ltd , up 423.4% ** Liberty Trpadvisor Holdings , up 111.4% ** Nebula Acquisition Corp , up 76.6% The top three Nasdaq .PL.O percentage losers: ** Fossil Group Inc , down 27% ** Piedmont Lithium , down 22.3% ** Genius Brands International , down 19% ** Continental Resources CLR.N: down 10.4% BUZZ-MKM Partners downgrades on valuation concerns ** Adobe Inc ADBE.O: up 0.1% BUZZ-Cowen & Co increases PT on higher sector valuation ** Hertz Global Holding HTZ.N: down 8.1% ** Whiting Petroleum corp WLL.N: down 19.5% BUZZ-Back to earth: Hertz, Whiting, Chesapeake ** Boxlight corp BOXL.O: down 18.9% BUZZ-Plunges on discounted, dilutive share sale offer ** EBay Inc EBAY.O: up 1.7% BUZZ-Wells Fargo hikes PT, upgrades on strong e-commerce growth ** Stitch Fix Inc SFIX.O: down 7.3% BUZZ-Falls on Q3 revenue miss ** Yext Inc YEXT.N: down 3.5% BUZZ-Berenberg downgrades to "hold" as execution, cost-cut strategy not clear ** Macy's Inc M.N: up 0.7% BUZZ-Rises as reopened stores outperform retailer's expectations ** Aqua Metals Inc AQMS.O: up 17.5% BUZZ-Shines as CEO raises stake in company ** Blackstone Mortgage Trust BXMT.N: down 6.7% BUZZ-Falls on $282 mln stock offer ** Uber Technologies Inc UBER.N: down 0.5% ** Lyft Inc LYFT.O: down 4.5% BUZZ-Wedbush raises PT on Uber, Lyft as demand improves ** AMC Entertainment Holdings AMC.N: down 5.7% BUZZ-Falls as California caps attendance at cinemas ** Lovesac Co LOVE.O: up 30.6% BUZZ-Soars on Q1 revenue jump, smaller loss ** GrubHub Inc GRUB.N: up 2.3% BUZZ-Jefferies hikes PT on reports of possible M&A ** Spirit Realty Capital Inc SRC.N: down 9.7% BUZZ-Drops on 8 mln share offering ** Tesla Inc TSLA.O: down 0.7% BUZZ-Pares losses on billionaire investor's comment ** Aimmune Therapeutics Inc AIMT.O: down 2.9% BUZZ-Street View: Post-pandemic challenges remain for Aimmune peanut allergy therapy ** OpGen Inc OPGN.O: up 9.4% BUZZ-Jumps as device rapidly detects bacterial infection in COVID-19 patients ** Immuron Ltd IMRN.O: up 423.4% BUZZ-Up on plans to start mid-stage studies testing diarrhea drug ** Signet Jewelers SIG.N: down 13.6% BUZZ-Falls as Q1 sales miss, announces hundreds of store closures ** Ceridian HCM Holding Inc CDAY.N: down 7.3% BUZZ-HR software firm falls from record high as sponsor, CEO sell shares ** Cerecor Inc CERC.O: down 15.5% BUZZ-Biopharma Cerecor falls on $33 mln equity raise ** Genasys Inc GNSS.O: up 3.1% BUZZ-Rises on $1.9 mln follow-on order from U.S. Army ** Immunic Inc IMUX.O: down 1.0% BUZZ-Up on FDA approval for trial of COVID-19 treatment ** MoneyGram International MGI.O: up 9.9% BUZZ-Gains as digital transactions jump over two-fold in May ** OPKO Health OPK.O: up 0.5% BUZZ-Rises as growth hormone deficiency drug meets main goal in Japanese study ** Tiffany & Co TIF.N: up 2.1% BUZZ-Says it's in compliance with debt covenants, shares rise ** RealReal Inc REAL.O: up 4.5% BUZZ-Rises on recovery signals ** Fate Therapeutics FATE.O: up 23.3% BUZZ-Surges on upsized equity raise; JNJ to buy shares ** MarketAxess MKTX.O: up 0.5% BUZZ-Rises as Credit Suisse raises PT, EPS estimate ** Occidental Petroleum corp OXY.N: down 8.1% BUZZ-BofA upgrades to 'buy' on oil price rebound, co's cash-saving plans ** Anthem Inc ANTM.N: down 1.5% BUZZ-Stephens hikes PT after co expects to generate 70% of adj EPS in H1 The 11 major S&P 500 sectors: Communication Services up 0.27% Consumer Discretionary
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.N At 11:30 ET, the Dow Jones Industrial Average .DJI was down 0.89% at 27,325.94. The S&P 500 .SPX was down 0.68% at 3,210.28 and the Nasdaq Composite .IXIC was up 0.24% at 9,948.739. The top three S&P 500 .PG.INX percentage gainers: ** Advanced Micro Devices , up 4.5% ** Vertex Pharmaceuticals Inc , up 3.3% ** Facebook Inc , up 3.3% The top three S&P 500 .PL.INX percentage losers: ** Coty Inc , down 10.8% ** American Airlines Group , down 10.1% ** Marathon Oil , down 9.1% The top three NYSE .PG.N percentage gainers: ** MicroSectors US Big Oil Index , up 17.3% ** Medley Llc , up 13.3% ** Direxion Daily S&P 500 High Beta Bear , up 12.9% The top three NYSE .PL.N percentage losers: ** Tupperware Brands , down 20.4% ** Whiting Petroleum Corp , down 19.5% ** Tenneco , down 19% The top three Nasdaq .PG.O percentage gainers: ** Immuron Ltd , up 423.4% ** Liberty Trpadvisor Holdings , up 111.4% ** Nebula Acquisition Corp , up 76.6% The top three Nasdaq .PL.O percentage losers: ** Fossil Group Inc , down 27% ** Piedmont Lithium , down 22.3% ** Genius Brands International , down 19% ** Continental Resources CLR.N: down 10.4% BUZZ-MKM Partners downgrades on valuation concerns ** Adobe Inc ADBE.O: up 0.1% BUZZ-Cowen & Co increases PT on higher sector valuation ** Hertz Global Holding HTZ.N: down 8.1% ** Whiting Petroleum corp WLL.N: down 19.5% BUZZ-Back to earth: Hertz, Whiting, Chesapeake ** Boxlight corp BOXL.O: down 18.9% BUZZ-Plunges on discounted, dilutive share sale offer ** EBay Inc EBAY.O: up 1.7% BUZZ-Wells Fargo hikes PT, upgrades on strong e-commerce growth ** Stitch Fix Inc SFIX.O: down 7.3% BUZZ-Falls on Q3 revenue miss ** Yext Inc YEXT.N: down 3.5% BUZZ-Berenberg downgrades to "hold" as execution, cost-cut strategy not clear ** Macy's Inc M.N: up 0.7% BUZZ-Rises as reopened stores outperform retailer's expectations ** Aqua Metals Inc AQMS.O: up 17.5% BUZZ-Shines as CEO raises stake in company ** Blackstone Mortgage Trust BXMT.N: down 6.7% BUZZ-Falls on $282 mln stock offer ** Uber Technologies Inc UBER.N: down 0.5% ** Lyft Inc LYFT.O: down 4.5% BUZZ-Wedbush raises PT on Uber, Lyft as demand improves ** AMC Entertainment Holdings AMC.N: down 5.7% BUZZ-Falls as California caps attendance at cinemas ** Lovesac Co LOVE.O: up 30.6% BUZZ-Soars on Q1 revenue jump, smaller loss ** GrubHub Inc GRUB.N: up 2.3% BUZZ-Jefferies hikes PT on reports of possible M&A ** Spirit Realty Capital Inc SRC.N: down 9.7% BUZZ-Drops on 8 mln share offering ** Tesla Inc TSLA.O: down 0.7% BUZZ-Pares losses on billionaire investor's comment ** Aimmune Therapeutics Inc AIMT.O: down 2.9% BUZZ-Street View: Post-pandemic challenges remain for Aimmune peanut allergy therapy ** OpGen Inc OPGN.O: up 9.4% BUZZ-Jumps as device rapidly detects bacterial infection in COVID-19 patients ** Immuron Ltd IMRN.O: up 423.4% BUZZ-Up on plans to start mid-stage studies testing diarrhea drug ** Signet Jewelers SIG.N: down 13.6% BUZZ-Falls as Q1 sales miss, announces hundreds of store closures ** Ceridian HCM Holding Inc CDAY.N: down 7.3% BUZZ-HR software firm falls from record high as sponsor, CEO sell shares ** Cerecor Inc CERC.O: down 15.5% BUZZ-Biopharma Cerecor falls on $33 mln equity raise ** Genasys Inc GNSS.O: up 3.1% BUZZ-Rises on $1.9 mln follow-on order from U.S. Army ** Immunic Inc IMUX.O: down 1.0% BUZZ-Up on FDA approval for trial of COVID-19 treatment ** MoneyGram International MGI.O: up 9.9% BUZZ-Gains as digital transactions jump over two-fold in May ** OPKO Health OPK.O: up 0.5% BUZZ-Rises as growth hormone deficiency drug meets main goal in Japanese study ** Tiffany & Co TIF.N: up 2.1% BUZZ-Says it's in compliance with debt covenants, shares rise ** RealReal Inc REAL.O: up 4.5% BUZZ-Rises on recovery signals ** Fate Therapeutics FATE.O: up 23.3% BUZZ-Surges on upsized equity raise; JNJ to buy shares ** MarketAxess MKTX.O: up 0.5% BUZZ-Rises as Credit Suisse raises PT, EPS estimate ** Occidental Petroleum corp OXY.N: down 8.1% BUZZ-BofA upgrades to 'buy' on oil price rebound, co's cash-saving plans ** Anthem Inc ANTM.N: down 1.5% BUZZ-Stephens hikes PT after co expects to generate 70% of adj EPS in H1 The 11 major S&P 500 sectors: Communication Services
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38cb6baa-7a7b-45e3-8205-c3e5c9595ad2
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5726.0
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2020-06-09 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-2020-06-09
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nan
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nan
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What happened
Airline shares have been red-hot through the first week of June, with some companies rocketing up more than 90% in the early days of the month. Gravity finally pushed back some on Tuesday, with the sector giving back a small part of those gains.
Shares of American Airlines Group (NASDAQ: AAL) traded down 10% as of 12:30 p.m. EDT, with shares of Delta Air Lines (NYSE: DAL), United Airlines Holdings (NASDAQ: UAL), Alaska Air Group (NYSE: ALK), JetBlue Airways (NASDAQ: JBLU), Spirit Airlines (NYSE: SAVE), and Hawaiian Holdings (NASDAQ: HA) all down 8% or more.
Southwest Airlines (NYSE: LUV) and Allegiant Travel (NASDAQ: ALGT) were the relative winners in the group, down between 4% and 6% each.
Airline data by YCharts
So what
The airlines have taken investors on a wild ride so far in 2020. The stocks lost about half of their value, or more, during the early days of the COVID-19 pandemic as global travel demand cratered. A rush of added liquidity, including government bailout funds, stabilized the sector, but investors have been anxiously watching for signs of a recovery.
Image source: Getty Images.
Those signs began to appear in late May and have continued into June with the Transportation Security Administration reporting daily gains in the number of travelers being screened and airlines announcing plans to rebuild their domestic schedules. That in turn led to a pronounced reaction from the shares, with American, for example, gaining 40% in a single trading session last week.
After a number of strong days, the broader markets switched to "risk-off" on Tuesday, and airlines followed. Though the news is encouraging for the sector, we are still well off the highs in terms of travel demand -- the TSA screening numbers, while improving, are still down 80% year over year -- and investors are likely taking some of their gains after a strong week.
Now what
With the focus now primarily on what is going right for the airlines, it is important to at least make mention of what could go wrong. Traffic, as mentioned, remains down year over year and will likely take years to recover to pre-pandemic levels.
Corporate and international traffic, typically the most lucrative for airlines, will likely be the last to come back. And although I am optimistic total global travel demand will continue to climb, the mix of leisure and business travel could forever be altered, which could impact the long-term profitability assumptions for some of the carriers.
There is also the lingering risk of a second wave of the pandemic, which could send demand crashing down yet again and rekindle questions about the airlines' abilities to survive.
I'm optimistic we are on an upswing, but given the risks that remain, investors should stick to small positions and focus on the top companies in the sector with the best chance of survival. Be prepared for the second half of 2020 to be as turbulent as the first half as been.
10 stocks we like better than JetBlue Airways
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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 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 American Airlines Group (NASDAQ: AAL) traded down 10% as of 12:30 p.m. EDT, with shares of Delta Air Lines (NYSE: DAL), United Airlines Holdings (NASDAQ: UAL), Alaska Air Group (NYSE: ALK), JetBlue Airways (NASDAQ: JBLU), Spirit Airlines (NYSE: SAVE), and Hawaiian Holdings (NASDAQ: HA) all down 8% or more. A rush of added liquidity, including government bailout funds, stabilized the sector, but investors have been anxiously watching for signs of a recovery. Those signs began to appear in late May and have continued into June with the Transportation Security Administration reporting daily gains in the number of travelers being screened and airlines announcing plans to rebuild their domestic schedules.
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Shares of American Airlines Group (NASDAQ: AAL) traded down 10% as of 12:30 p.m. EDT, with shares of Delta Air Lines (NYSE: DAL), United Airlines Holdings (NASDAQ: UAL), Alaska Air Group (NYSE: ALK), JetBlue Airways (NASDAQ: JBLU), Spirit Airlines (NYSE: SAVE), and Hawaiian Holdings (NASDAQ: HA) all down 8% or more. 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 recommends Alaska Air Group, Delta Air Lines, Hawaiian Holdings, JetBlue Airways, and Southwest Airlines.
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Shares of American Airlines Group (NASDAQ: AAL) traded down 10% as of 12:30 p.m. EDT, with shares of Delta Air Lines (NYSE: DAL), United Airlines Holdings (NASDAQ: UAL), Alaska Air Group (NYSE: ALK), JetBlue Airways (NASDAQ: JBLU), Spirit Airlines (NYSE: SAVE), and Hawaiian Holdings (NASDAQ: HA) all down 8% or more. 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 recommends Alaska Air Group, Delta Air Lines, Hawaiian Holdings, JetBlue Airways, and Southwest Airlines.
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Shares of American Airlines Group (NASDAQ: AAL) traded down 10% as of 12:30 p.m. EDT, with shares of Delta Air Lines (NYSE: DAL), United Airlines Holdings (NASDAQ: UAL), Alaska Air Group (NYSE: ALK), JetBlue Airways (NASDAQ: JBLU), Spirit Airlines (NYSE: SAVE), and Hawaiian Holdings (NASDAQ: HA) all down 8% or more. The stocks lost about half of their value, or more, during the early days of the COVID-19 pandemic as global travel demand cratered. Though the news is encouraging for the sector, we are still well off the highs in terms of travel demand -- the TSA screening numbers, while improving, are still down 80% year over year -- and investors are likely taking some of their gains after a strong week.
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3a2c993c-9934-4ca0-b9b8-21f819ed8021
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5727.0
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2020-06-09 00:00:00 UTC
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How to Handle Red-Hot American Airlines Stock
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AAL
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https://www.nasdaq.com/articles/how-to-handle-red-hot-american-airlines-stock-2020-06-09
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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 crashing, but it’s not lower — it’s higher. Call it a reverse crash, a melt-up, a buying stampede. You can pick your superlative of choice to describe just how glorious the rebound has been; they all apply. Today we’re viewing the space through the lens of American Airlines (NYSE:AAL) and AAL stock to line up a few ways to capitalize on the frenzy.
Source: GagliardiPhotography / Shutterstock.com
The Bullish Narrative of AAL Stock
In sizing up the historic recovery in all things airline-related, a few things become apparent. First up is volatility. The speed of the climb has even outpaced the disastrous descent in March, which is utterly incredible given how relentless the drop was. Stock prices tend to fall faster than they rise, so flipping the script like this says something about the power driving the surge.
Seemingly at once, everyone decided the massacre in airlines was a huge buying opportunity. As is often the case with market movements, there doesn’t appear to be a single catalyst that suddenly drove airline stocks to the sky.
News surrounding the global pandemic has been steadily improving. Economies are reopening, and consumers are returning to their shopping habits. Travel demand is ticking higher, and investor sentiment is rapidly warming. Friday’s jobs report smashed expectations and bolstered the narrative that many layoffs were temporary. Tack on a few trillion in Federal and Government stimulus, and you’ve crafted quite the potent bullish brew.
4 Electric Car Stocks to Charge Your Portfolio
I think technical analysis provides a big reason for the timing of the sudden awakening. Airlines finally took out a significant resistance zone.
JETS to the Moon
Source: The thinkorswim® platform from TD Ameritrade
Wall Street’s new favorite fund for tracking and trading all things airlines is the US Global Jets ETF (NYSEARCA:JETS). It provides a one-stop-shop for analyzing the entire industry. American Airlines stock carries the largest weighting of the basket, with United Airlines (NYSE:UAL), Southwest Airlines (NYSE:LUV), Delta Airlines (NYSE:DAL), and Skywest (NYSE:SKYW) rounding out the top five.
One interesting dynamic to the recent bonanza is the indiscriminate buying beneath the surface. Airline stocks have fused into one giant blob, with everything rising together. Individual fundamentals have gone out the window, and it hasn’t mattered which airliner you own. Such is often the case during a crash or bear market when risk-off rules and investors want out. Perhaps it’s appropriate that the current reverse crash is mirroring the same principle.
JETS provides a clear picture of the resistance zones that arose through March, April, and May. $16 to $17 defined the top side of the range and were the lines that needed clearing to signal recovery was finally afoot. I don’t think it’s any coincidence that the volume surge came after the ceiling fell.
While some backing-and-filling is certainly warranted after such a wicked rise, JETS still has room to run to its 200-day moving average.
American Airlines Stock Trades
Source: The thinkorswim® platform from TD Ameritrade
AAL stock staged a breakout of its own alongside the JETS ETF. For two months, $13 has stymied each takeoff attempt. When it finally blasted above it last Thursday, volume exploded with around 400 million shares traded for two consecutive sessions. I suspect there was a great deal of short covering mixed in with the fresh buyers boarding the stock.
Thursday’s high returned AAL to its descending 200-day moving average. With the stock having doubled over the past week, my guess is the explosive phase of the rebound is nearing an end. It doesn’t mean AAL won’t keep working higher, but the rate of ascent will be tamer.
If you’re looking for new longs, you have to realize the risk/reward isn’t as favorable given its overstretched status. For those buying shares, I suggest using a tight stop or be willing to sit through the inevitable pullback or pause that will develop over the coming weeks.
Another option is selling puts to increase your probability of profit. Premiums remain sky high due to the incredible volatility, and that translates into a high return on investment.
The Trade: Sell the July $15 puts for around $1.45.
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 to Handle Red-Hot 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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Today we’re viewing the space through the lens of American Airlines (NYSE:AAL) and AAL stock to line up a few ways to capitalize on the frenzy. Source: GagliardiPhotography / Shutterstock.com The Bullish Narrative of AAL Stock In sizing up the historic recovery in all things airline-related, a few things become apparent. American Airlines Stock Trades Source: The thinkorswim® platform from TD Ameritrade AAL stock staged a breakout of its own alongside the JETS ETF.
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Today we’re viewing the space through the lens of American Airlines (NYSE:AAL) and AAL stock to line up a few ways to capitalize on the frenzy. American Airlines Stock Trades Source: The thinkorswim® platform from TD Ameritrade AAL stock staged a breakout of its own alongside the JETS ETF. Source: GagliardiPhotography / Shutterstock.com The Bullish Narrative of AAL Stock In sizing up the historic recovery in all things airline-related, a few things become apparent.
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American Airlines Stock Trades Source: The thinkorswim® platform from TD Ameritrade AAL stock staged a breakout of its own alongside the JETS ETF. Today we’re viewing the space through the lens of American Airlines (NYSE:AAL) and AAL stock to line up a few ways to capitalize on the frenzy. Source: GagliardiPhotography / Shutterstock.com The Bullish Narrative of AAL Stock In sizing up the historic recovery in all things airline-related, a few things become apparent.
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Today we’re viewing the space through the lens of American Airlines (NYSE:AAL) and AAL stock to line up a few ways to capitalize on the frenzy. Thursday’s high returned AAL to its descending 200-day moving average. Source: GagliardiPhotography / Shutterstock.com The Bullish Narrative of AAL Stock In sizing up the historic recovery in all things airline-related, a few things become apparent.
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7db3c85c-c564-4ee2-becd-771fc191c61a
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5728.0
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2020-06-09 00:00:00 UTC
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Forget Airline Stocks, Buy Aerospace Suppliers Instead
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AAL
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https://www.nasdaq.com/articles/forget-airline-stocks-buy-aerospace-suppliers-instead-2020-06-09
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nan
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nan
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The commercial aviation industry has obviously taken a major hit from the COVID-19 pandemic and it appears that getting back to 2019 levels is going to be a multi-year event. That said, every stock has its price, and it's no surprise that value investors have been buying airline stocks with an aim of playing the recovery. However, from a historical perspective, it makes more sense to buy the commercial aviation suppliers, like Raytheon Technologies (NYSE: RTX), Honeywell (NYSE: HON), or Heico (NYSE: HEI). Here's why.
The airline industry has been good for debtholders and equipment suppliers
Companies exist to generate returns for equity investors, but first they are obliged to pay back debtholders. That's a key point to understand with airline stocks, because historically speaking, the airline industry has been good for bondholders, but until recently, not so good for equity holders.
Image source: Getty Images.
A look at airline industry profitability and return on invested capital over the years tends to confirm the view the International Air Transport Association (IATA) expressed in a report: "On average, during previous business cycles, the airline industry has been able to generate enough revenue to pay its suppliers' bills and service its debt." However, it's only in recent years that "equity owners have been rewarded adequately for risking their capital in some regions but not all of them" according to the report.
Debtholders are seen as willing to lend to airlines because if it all goes wrong, the physical assets of the airlines (mainly the planes) can be sold off in order to pay the creditors first, while the shareholders are the last in line to be paid.
On a historical basis, the big winners from the airline industry have been the debtholders and the aviation suppliers. In fact, it was only in 2015 that the worldwide airline industry started to generate the adequate return on investment necessary to cover their cost of capital -- around 2013 if you are just looking at airlines in North America.
Before and after 2013
With the theory explanation out of the way, here are some specific stock names. Heico, Honeywell, and Raytheon Technologies' Pratt & Whitney and Collins Aerospace businesses are three suppliers who have done well over time.
First, here's a look at the stock prices of aerospace suppliers Heico, TransDigm (another pure play aerospace company) and Honeywell in the years before 2013. As you can see below, Heico and TransDigm -- highly acquisitive companies that can be looked at as geared plays on commercial aviation -- massively outperformed the airline stocks. Honeywell is a diversified industrial company with aerospace is its biggest single industry vertical.
Data by YCharts
Second, here is a chart of stock prices since 2013, which shows how well, absolutely and relatively, airline stocks have performed since then.
Data by YCharts
The key question, then, is whether the possible future costs, lower passenger numbers, and the financial constraints on the incumbent airlines will lead to more of a pre-2013 or a post-2013 outcome for the listed airlines?
Three supplier stocks to look at
Frankly, the question asked above is very difficult to answer, but the good news is you may not need to even try. Instead of buying airline stocks, you can simply buy their suppliers.
It's very hard to tell how profitable airlines will be in the future, or which ones will win out, particularly as so much depends on government decision-making. For example, the travel restrictions have been put in place by governments. In addition, regulators may well force airlines to carry additional costs related to safety concerns, including drastic measures like leaving middle seats empty.
A plane being serviced. Image source: Getty Images.
On the other hand, it's clear that the suppliers generated good returns in both periods, so they look like a safer bet than the airlines. In addition, history suggests capital will flow into the industry in order support air travel and demand for equipment.
Of the three companies mentioned above, Heico is the one whose stock price has the most exposure to the aerospace market. Around half of its sales come from non-commercial aerospace markets, but its hefty valuation can only be justified if you are confident in a recovery in all its end markets over the long term.
That said, Heico's management claims it only has 2% of the market for engine and aircraft replacement parts, so it has an opportunity to grow by gaining market share, even in a sluggish end market.
Data by YCharts
Raytheon Technologies actually generates 55% of its revenue from military sources (nearly all of it from the former Raytheon Company businesses) and despite the recent rise there's a good case for arguing that the market is undervaluing its commercial aerospace businesses (Pratt & Whitney and Collins Aerospace from the former United Technologies). A comparison with its defense peers suggests the market may well be taking an overly pessimistic view of its commercial aerospace prospects.
Data by YCharts
Diversified industrial Honeywell is probably the best option for more cautious investors who still want some exposure to aviation. The aerospace segment was responsible for 45% of segment profit in 2019, but around 40% of its aerospace revenue actually comes from defense and space markets.
Honeywell has plenty of other industrial businesses that can support the company -- warehouse automation, building technologies than can create healthy buildings, and process automation etc. -- while investors wait for a pick up in the commercial aviation market.
All told, Raytheon and Honeywell look like good values, and Heico is worth a look for aerospace bulls. They can all do well, even if the currently listed airlines might not be as profitable as they've been in recent years.
10 stocks we like better than Honeywell International
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 Honeywell International 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
Lee Samaha owns shares of Honeywell International. The Motley Fool owns shares of and recommends TransDigm Group. The Motley Fool recommends Delta Air Lines, Heico, 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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A look at airline industry profitability and return on invested capital over the years tends to confirm the view the International Air Transport Association (IATA) expressed in a report: "On average, during previous business cycles, the airline industry has been able to generate enough revenue to pay its suppliers' bills and service its debt." As you can see below, Heico and TransDigm -- highly acquisitive companies that can be looked at as geared plays on commercial aviation -- massively outperformed the airline stocks. In addition, history suggests capital will flow into the industry in order support air travel and demand for equipment.
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However, from a historical perspective, it makes more sense to buy the commercial aviation suppliers, like Raytheon Technologies (NYSE: RTX), Honeywell (NYSE: HON), or Heico (NYSE: HEI). Heico, Honeywell, and Raytheon Technologies' Pratt & Whitney and Collins Aerospace businesses are three suppliers who have done well over time. First, here's a look at the stock prices of aerospace suppliers Heico, TransDigm (another pure play aerospace company) and Honeywell in the years before 2013.
|
That's a key point to understand with airline stocks, because historically speaking, the airline industry has been good for bondholders, but until recently, not so good for equity holders. A look at airline industry profitability and return on invested capital over the years tends to confirm the view the International Air Transport Association (IATA) expressed in a report: "On average, during previous business cycles, the airline industry has been able to generate enough revenue to pay its suppliers' bills and service its debt." Data by YCharts Raytheon Technologies actually generates 55% of its revenue from military sources (nearly all of it from the former Raytheon Company businesses) and despite the recent rise there's a good case for arguing that the market is undervaluing its commercial aerospace businesses (Pratt & Whitney and Collins Aerospace from the former United Technologies).
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The airline industry has been good for debtholders and equipment suppliers Companies exist to generate returns for equity investors, but first they are obliged to pay back debtholders. A look at airline industry profitability and return on invested capital over the years tends to confirm the view the International Air Transport Association (IATA) expressed in a report: "On average, during previous business cycles, the airline industry has been able to generate enough revenue to pay its suppliers' bills and service its debt." Of the three companies mentioned above, Heico is the one whose stock price has the most exposure to the aerospace market.
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98ca3bf6-98e6-4cea-aa90-81408b1ed54f
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5729.0
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2020-06-09 00:00:00 UTC
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U.S. stock futures fall as recovery rally pauses ahead of Fed meeting
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AAL
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https://www.nasdaq.com/articles/u.s.-stock-futures-fall-as-recovery-rally-pauses-ahead-of-fed-meeting-2020-06-09
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nan
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nan
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By Medha Singh
June 9 (Reuters) - U.S. stock index futures dropped on Tuesday, giving back some gains after the Nasdaq notched a record closing high in the previous session, with focus now on the Federal Reserve's two-day policy meeting.
Stocks in the travel industry including American Airlines Group Inc AAL.O, United Airlines Holdings Inc UAL.O, Alaska Air Group Inc ALK.N and Marriott International Inc MAR.O shed between 4.5% and 9.0% in premarket trading after surging on Monday.
While no major policy announcements are expected when the U.S. central bank wraps up its meeting on Wednesday, policymakers will issue economic projections for the first time since December, before a decade-long economic expansion was brought to a grinding halt due to coronavirus-induced lockdowns.
Last week's strikingly strong employment data for May strengthened views that the worst of the economic fallout from the pandemic was over, and is also expected to be discussed at the meeting.
The Nasdaq's .IXIC record closing high on Monday confirmed a bull market began when markets hit a low on March 23, according to a widely used definition. The S&P 500, which is about 5% below its own all-time high, also erased its year-to-date losses.
At 6:19 a.m. ET, Dow e-minis 1YMcv1 were down 333 points, or 1.21%. S&P 500 e-minis EScv1 were down 34 points, or 1.05% and Nasdaq 100 e-minis NQcv1 were down 63.75 points, or 0.64%.
Department store chain Macy's Inc M.N rose 5.8% after raising $4.5 billion in financing, as it tries to navigate through the fallout from the COVID-19 pandemic.
(Reporting by Medha Singh and Devik Jain in Bengaluru; Editing by 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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Stocks in the travel industry including American Airlines Group Inc AAL.O, United Airlines Holdings Inc UAL.O, Alaska Air Group Inc ALK.N and Marriott International Inc MAR.O shed between 4.5% and 9.0% in premarket trading after surging on Monday. By Medha Singh June 9 (Reuters) - U.S. stock index futures dropped on Tuesday, giving back some gains after the Nasdaq notched a record closing high in the previous session, with focus now on the Federal Reserve's two-day policy meeting. Last week's strikingly strong employment data for May strengthened views that the worst of the economic fallout from the pandemic was over, and is also expected to be discussed at the meeting.
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Stocks in the travel industry including American Airlines Group Inc AAL.O, United Airlines Holdings Inc UAL.O, Alaska Air Group Inc ALK.N and Marriott International Inc MAR.O shed between 4.5% and 9.0% in premarket trading after surging on Monday. By Medha Singh June 9 (Reuters) - U.S. stock index futures dropped on Tuesday, giving back some gains after the Nasdaq notched a record closing high in the previous session, with focus now on the Federal Reserve's two-day policy meeting. The Nasdaq's .IXIC record closing high on Monday confirmed a bull market began when markets hit a low on March 23, according to a widely used definition.
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Stocks in the travel industry including American Airlines Group Inc AAL.O, United Airlines Holdings Inc UAL.O, Alaska Air Group Inc ALK.N and Marriott International Inc MAR.O shed between 4.5% and 9.0% in premarket trading after surging on Monday. By Medha Singh June 9 (Reuters) - U.S. stock index futures dropped on Tuesday, giving back some gains after the Nasdaq notched a record closing high in the previous session, with focus now on the Federal Reserve's two-day policy meeting. S&P 500 e-minis EScv1 were down 34 points, or 1.05% and Nasdaq 100 e-minis NQcv1 were down 63.75 points, or 0.64%.
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Stocks in the travel industry including American Airlines Group Inc AAL.O, United Airlines Holdings Inc UAL.O, Alaska Air Group Inc ALK.N and Marriott International Inc MAR.O shed between 4.5% and 9.0% in premarket trading after surging on Monday. By Medha Singh June 9 (Reuters) - U.S. stock index futures dropped on Tuesday, giving back some gains after the Nasdaq notched a record closing high in the previous session, with focus now on the Federal Reserve's two-day policy meeting. Last week's strikingly strong employment data for May strengthened views that the worst of the economic fallout from the pandemic was over, and is also expected to be discussed at the meeting.
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ca4dce6b-6675-4b97-abe7-c8f6084f7595
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5730.0
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2020-06-09 00:00:00 UTC
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Wall Street set to fall as rally pauses ahead of Fed meeting
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AAL
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https://www.nasdaq.com/articles/wall-street-set-to-fall-as-rally-pauses-ahead-of-fed-meeting-2020-06-09
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nan
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nan
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By Medha Singh and Devik Jain
June 9 (Reuters) - Wall Street's main indexes were set open lower on Tuesday, a day after the Nasdaq surged to a record closing high on hopes of a quick economic recovery from a coronavirus-fueled downturn, with focus now on the Federal Reserve's policy meeting.
Stocks in the travel industry, including American Airlines Group Inc AAL.O, United Airlines Holdings Inc UAL.O, Alaska Air Group Inc ALK.N and Marriott International Inc MAR.O, fell 4% to 7% in premarket trading after climbing on Monday.
The Nasdaq's .IXIC record close confirmed a bull market began when markets hit a low on March 23, while the S&P 500 .SPX erased its year-to-date losses. The benchmark index is about 5% below its all-time high, having climbed nearly 48% since the plunge in March.
A rally in U.S. stocks accelerated last week after a strikingly upbeat jobs data for May strengthened views that the worst of the economic fallout from the pandemic was over.
"Because the S&P 500 has risen so far so fast, you can always anticipate periodic short bouts of profit-taking to occur along the way," said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin.
"Markets may be moving based on where the economy will be a year from now versus, say, six months from now."
While no major policy announcements are expected when the U.S. central bank wraps up its meeting on Wednesday, investors will look for hints that the Fed believes the worst part of the coronavirus crisis has passed.
The benchmark U.S. yield curve US2US10=TWEB — an indicator of economic expansion — has widened to its steepest level since March as U.S. data improved and investors will look for hints on whether the Fed will step in to flatten the yield curve.
At 8:34 a.m. ET, Dow e-minis 1YMcv1 were down 259 points, or 0.94%. S&P 500 e-minis EScv1 were down 26.25 points, or 0.81% and Nasdaq 100 e-minis NQcv1 were down 35.25 points, or 0.36%.
In a bright spot, Macy's Inc M.N jumped 7.4% after the department store chain said its 450 reopened stores were performing better than expected, a day after it raised $4.5 billion in financing to combat the fallout from the pandemic.
Tiffany & Co TIF.N edged 0.9% higher as the luxury jeweler said it had amended certain of its debt agreements in order to have sufficient liquidity to navigate the coronavirus outbreak as it posted a 43% slump in quarterly sales.
(Reporting by Medha Singh and Devik Jain in Bengaluru; Editing by Shounak Dasgupta and Uttaresh.V)
((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.
|
Stocks in the travel industry, including American Airlines Group Inc AAL.O, United Airlines Holdings Inc UAL.O, Alaska Air Group Inc ALK.N and Marriott International Inc MAR.O, fell 4% to 7% in premarket trading after climbing on Monday. By Medha Singh and Devik Jain June 9 (Reuters) - Wall Street's main indexes were set open lower on Tuesday, a day after the Nasdaq surged to a record closing high on hopes of a quick economic recovery from a coronavirus-fueled downturn, with focus now on the Federal Reserve's policy meeting. While no major policy announcements are expected when the U.S. central bank wraps up its meeting on Wednesday, investors will look for hints that the Fed believes the worst part of the coronavirus crisis has passed.
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Stocks in the travel industry, including American Airlines Group Inc AAL.O, United Airlines Holdings Inc UAL.O, Alaska Air Group Inc ALK.N and Marriott International Inc MAR.O, fell 4% to 7% in premarket trading after climbing on Monday. By Medha Singh and Devik Jain June 9 (Reuters) - Wall Street's main indexes were set open lower on Tuesday, a day after the Nasdaq surged to a record closing high on hopes of a quick economic recovery from a coronavirus-fueled downturn, with focus now on the Federal Reserve's policy meeting. The Nasdaq's .IXIC record close confirmed a bull market began when markets hit a low on March 23, while the S&P 500 .SPX erased its year-to-date losses.
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Stocks in the travel industry, including American Airlines Group Inc AAL.O, United Airlines Holdings Inc UAL.O, Alaska Air Group Inc ALK.N and Marriott International Inc MAR.O, fell 4% to 7% in premarket trading after climbing on Monday. By Medha Singh and Devik Jain June 9 (Reuters) - Wall Street's main indexes were set open lower on Tuesday, a day after the Nasdaq surged to a record closing high on hopes of a quick economic recovery from a coronavirus-fueled downturn, with focus now on the Federal Reserve's policy meeting. The benchmark U.S. yield curve US2US10=TWEB — an indicator of economic expansion — has widened to its steepest level since March as U.S. data improved and investors will look for hints on whether the Fed will step in to flatten the yield curve.
|
Stocks in the travel industry, including American Airlines Group Inc AAL.O, United Airlines Holdings Inc UAL.O, Alaska Air Group Inc ALK.N and Marriott International Inc MAR.O, fell 4% to 7% in premarket trading after climbing on Monday. By Medha Singh and Devik Jain June 9 (Reuters) - Wall Street's main indexes were set open lower on Tuesday, a day after the Nasdaq surged to a record closing high on hopes of a quick economic recovery from a coronavirus-fueled downturn, with focus now on the Federal Reserve's policy meeting. The benchmark U.S. yield curve US2US10=TWEB — an indicator of economic expansion — has widened to its steepest level since March as U.S. data improved and investors will look for hints on whether the Fed will step in to flatten the yield curve.
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c1bd0840-b0e3-4f9d-8eec-2b5e6f820592
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5731.0
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2020-06-09 00:00:00 UTC
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GE Stock Looks Like A Bargain Now as the Recovery Gets Underway
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AAL
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https://www.nasdaq.com/articles/ge-stock-looks-like-a-bargain-now-as-the-recovery-gets-underway-2020-06-09
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
General Electric (NYSE:GE) is likely going to benefit from the easing of global coronavirus restrictions. As a result, I have changed my mind about GE stock. In my last article, at the end of April, I argued that the stock would languish. But now I think it will begin to recuperate its losses.
Source: Sundry Photography / Shutterstock.com
Here is why. First of all, economic growth is starting to take hold. On Friday, June 5, the U.S. Labor Department reported that U.S. payrolls rose by 2.5 million in May rather than an expected drop of over 8 million. Analysts are going to see this as a sign of a return to growth.
“Recovery” is the primary thrust of much of their thinking and in their projections. This applies to General Electric’s three main businesses, aviation, health-care, and power.
Second, the reality is that people are going to start traveling more. They are emboldened. Many believe that a vaccine is around the corner. There is pent-up demand to literally get out of the house and go on vacation.
7 Utility Stocks to Buy Keeping Lights On And Dividends Flowing
That will lead to airline travel, which, in turn, increases the demand for GE’s jet engines. For example, American Airlines (NASDAQ: AAL) said that it would fly up to 55% of its domestic airline schedule in July. It is going to fly 20% of its international capacity as well. That implies higher sales for GE’s aviation unit or at least a return to a sense of normalcy for GE’s largest sales unit.
Third, Barron’s came out with an article on June 5 that GE’s health care unit is showing signs of life. During the lockdown, elective procedures at hospitals had been put on hold. Now they can start using GE equipment again for those surgeries.
Analysts and GE Stock
Barron’s just contrasted two analysts’ recommendations on GE stock. Both analysts wrote their reports after Raytheon Technologies (NYSE:RTX) said it expects negative FCF during Q2.
One analyst from JP Morgan said GE was worth a “Hold”, which I consider analyst-speak for “Sell.” He put a $5 target on GE stock.
The other analyst from Barclays believes that Raytheon’s profit warning is good news for GE. It shows that all aviation industry companies are in the same boat. He has a $9 price target on GE. Even after last week’s jump, that still represents a 14% upside from the $7.88 June 5 price.
Many analysts are not only discounting 2020 but they are essentially relying on 2o21 as the “recovery” year for GE stock. For example, Seeking Alpha indicates that 13 analysts believe the company will post 41 cents per share in earnings by the end of 2021. That puts GE stock on a forward price-to-earnings of 19 times.
That may not seem like a bargain price, but it is much lower than the average 70 times P/E ratio for 2020, according to Seeking Alpha.
What to Do Next With GE
It seems to me that GE stock’s fate, for now, is highly tied to Boeing (NYSE:BA). Boeing’s airplanes use GE’s jet engines. And Boeing’s fate is tied to that of the airlines and the travel industry.
If people decide to travel, as American Airlines seems to think they will this summer, that will be good news for the airline supplier industry, including General Electric.
I believe this will happen. Expect to see GE stock rise this summer as analysts upgrade their expectations of the company’s free cash flow profile. So far, I do not have a target price.
But I have changed my mind and believe that the stock is likely to retrace a big portion of its fall from $11.16 per share. That is where it ended in 2019.
It is still down 29% from that price. I suspect it can come back at least half of that distance between now and the end of the year.
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 GE Stock Looks Like A Bargain Now as the Recovery Gets Underway 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, American Airlines (NASDAQ: AAL) said that it would fly up to 55% of its domestic airline schedule in July. 7 Utility Stocks to Buy Keeping Lights On And Dividends Flowing That will lead to airline travel, which, in turn, increases the demand for GE’s jet engines. Third, Barron’s came out with an article on June 5 that GE’s health care unit is showing signs of life.
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For example, American Airlines (NASDAQ: AAL) said that it would fly up to 55% of its domestic airline schedule in July. InvestorPlace - Stock Market News, Stock Advice & Trading Tips General Electric (NYSE:GE) is likely going to benefit from the easing of global coronavirus restrictions. Analysts and GE Stock Barron’s just contrasted two analysts’ recommendations on GE stock.
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For example, American Airlines (NASDAQ: AAL) said that it would fly up to 55% of its domestic airline schedule in July. Analysts and GE Stock Barron’s just contrasted two analysts’ recommendations on GE stock. One analyst from JP Morgan said GE was worth a “Hold”, which I consider analyst-speak for “Sell.” He put a $5 target on GE stock.
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For example, American Airlines (NASDAQ: AAL) said that it would fly up to 55% of its domestic airline schedule in July. First of all, economic growth is starting to take hold. Analysts and GE Stock Barron’s just contrasted two analysts’ recommendations on GE stock.
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d87a3f3a-1316-435d-bbac-7d78222635f6
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5732.0
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2020-06-08 00:00:00 UTC
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American Airlines Stock May Very Well Ride This Airline Rally All the Way
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AAL
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https://www.nasdaq.com/articles/american-airlines-stock-may-very-well-ride-this-airline-rally-all-the-way
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Airlines were among the equities most adversely affected by the novel coronavirus pandemic and American Airlines (NYSE:AAL) was certainly part of that trend. The carrier isn’t out of the woods yet, not by a long shot, but AAL stock surged 41% on June 4 as investors embraced news of better-than-expected travel demand.
Source: GagliardiPhotography / Shutterstock.com
Investors paying even casual attention to airline stocks during the Covid-19 outbreak are hearing plenty about demand. As in what’s the appetite for air travel going to look like following a viral pandemic that’s forcing unemployment to Great Depression levels?
Apparently, demand for flights is brisker than even the carriers themselves anticipated as highlighted by Thursday comments from American:
“In response to improving demand for air travel, American is planning to fly 55% of its domestic schedule and nearly 20% of its international schedule in July 2020 compared to the same period last year,” said the Texas-based company in a statement. “The airline’s July systemwide capacity amounts to approximately 40% of July 2019 flying.”
7 Utility Stocks to Buy Keeping Lights On And Dividends Flowing
There were inklings of a resurgence late last month as American said it flew an average of 110,000 passengers per day over the final week of May, well above the dismal April daily average of 32,000.
Encouraging Details on AAL Stock
In a typical vibrant economy and bull market for stocks, such as the one that ended at the hands of Covid-19, airline investors have the luxury of painting with broad strokes.
What I mean is that when times are good, an investor considering American, Southwest Airlines (NYSE:LUV) or any of the carriers, simply needed to know that the economy was sturdy, labor relations were solid and oil prices were manageable.
American is a great example of that sentiment. Through years of the most recently deceased bull market and economic expansion, the carrier feasted on debt, making it vulnerable to a swift economic contraction, regardless of the reasons for that downturn.
While American’s balance sheet remains fragile and is flimsy compared to, say, Southwest, there are some encouraging near-term signs regarding day-to-day operations.
Translation: investors mulling this stock ought to consider to where the carrier is saying it’s increasing flights.
“The airline also increased frequency of flying to Asheville, North Carolina (AVL), Savannah, Georgia (SAV), and Charleston, South Carolina (CHS) for business and leisure travelers,” according to the statement.
There’s more. American said it’s going to offer more flights than any other carrier to Florida in July. That’s a sign that leisure travel is perking up and tourists want to visit Sunshine State beaches or Disney World, which is slated to come back online in July.
On a related note, American said it will increase routes to Colorado, Montana, Utah and Wyoming next month, “as national parks and outdoor recreational spaces reopen and customer demand for these destinations continues to recover.”
There are other positive details for airline investors to consider, including better-than-expected bookings in the cruise space. And, of course, some Las Vegas casino operators saying they’re going to up room capacity more rapidly than they originally planned because the initial batch available reservations are flying off the shelves.
Bottom Line on American Airlines Stock
It cannot be ignored that much of American’s enterprise value is represented by debt and that, by the carrier’s own admission, higher-margin international travel demand is going to be slower to rebound.
The company has some moves it can make to enhance liquidity and reduce debt, including tapping some of the $10 billion in assets it holds. That could include following the lead of some other carriers in using sale-leaseback transactions on jets it owns outright.
The leverage is a concern. There’s no getting around that, but if American proves it is on a path to normalcy and that a return to 2019 capacity levels is possible by late 2021 or early to mid-2022, markets could continue rewarding the stock.
Todd Shriber has been an InvestorPlace contributor since 2014. As of this writing, he did not hold a position in any of the aforementioned securities.
The post American Airlines Stock May Very Well Ride This Airline Rally All the Way 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 carrier isn’t out of the woods yet, not by a long shot, but AAL stock surged 41% on June 4 as investors embraced news of better-than-expected travel demand. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Airlines were among the equities most adversely affected by the novel coronavirus pandemic and American Airlines (NYSE:AAL) was certainly part of that trend. Encouraging Details on AAL Stock In a typical vibrant economy and bull market for stocks, such as the one that ended at the hands of Covid-19, airline investors have the luxury of painting with broad strokes.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Airlines were among the equities most adversely affected by the novel coronavirus pandemic and American Airlines (NYSE:AAL) was certainly part of that trend. The carrier isn’t out of the woods yet, not by a long shot, but AAL stock surged 41% on June 4 as investors embraced news of better-than-expected travel demand. Encouraging Details on AAL Stock In a typical vibrant economy and bull market for stocks, such as the one that ended at the hands of Covid-19, airline investors have the luxury of painting with broad strokes.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Airlines were among the equities most adversely affected by the novel coronavirus pandemic and American Airlines (NYSE:AAL) was certainly part of that trend. The carrier isn’t out of the woods yet, not by a long shot, but AAL stock surged 41% on June 4 as investors embraced news of better-than-expected travel demand. Encouraging Details on AAL Stock In a typical vibrant economy and bull market for stocks, such as the one that ended at the hands of Covid-19, airline investors have the luxury of painting with broad strokes.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Airlines were among the equities most adversely affected by the novel coronavirus pandemic and American Airlines (NYSE:AAL) was certainly part of that trend. The carrier isn’t out of the woods yet, not by a long shot, but AAL stock surged 41% on June 4 as investors embraced news of better-than-expected travel demand. Encouraging Details on AAL Stock In a typical vibrant economy and bull market for stocks, such as the one that ended at the hands of Covid-19, airline investors have the luxury of painting with broad strokes.
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2020-06-08 00:00:00 UTC
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Breakingviews - Corona Capital: U.S. recession, Grubhub, Airlines
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AAL
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https://www.nasdaq.com/articles/breakingviews-corona-capital%3A-u.s.-recession-grubhub-airlines-2020-06-08
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Reuters
Reuters
NEW YORK/DALLAS/LONDON/MILAN/HONG KONG (Reuters Breakingviews) - Corona Capital is a daily column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights.
LATEST
- U.S. recession data
- Grubhub’s bidders
- Airline optimism
RECESSION COMPRESSION. The U.S. economy ended its longest expansion on record in February and went into recession, according to the National Bureau of Economic Research on Monday. The peak came 128 months after the post-financial crisis recovery began in the middle of President Barack Obama’s first year in office.
The committee that referees such things noted that because of the very sharp dropoff in economic activity in March, the peak quarter for the U.S. economy was the last period of 2019. The date mismatch is one more challenge to traditional data norms created by the coronavirus pandemic. Typically the peak month and quarter are the same or at least adjacent.
The NBER also designated this a recession unusually quickly. That reflects the breadth and depth of the downturn, but it’s also a nod to the possibility that it could be over quickly. Six months is the shortest to date. Maybe that’s yet another record that will fall to the pandemic. (By Richard Beales)
SHOTGUN. Grubhub is trying to take the wheel from Uber Technologies. Rivals Just Eat Takeaway.com and Delivery Hero are also interested in buying the U.S.-based food delivery service, according to CNBC on Friday. Those deals make less sense – unless they were used to force Uber’s hand.
The ride-hailing service and Grubhub are haggling over the exchange ratio for an all-stock deal and the reverse break fee. Because of overlap, watchdogs will likely take a critical view. But market similarities are also crucial: UBS reckons a merger could result in more than $500 million in cost savings.
Meanwhile European competitors would have a lower bar for regulatory clearance, but, consequently, meager benefits from a deal. They could overpay, but a transaction ultimately is less likely. So Grubhub is best sticking to its other power play. Covid-19 has boosted business as delivery has come in high demand. That’s not the case for $65 billion Uber, which is suffering from a dearth of riders. (By Jennifer Saba)
DIFFICULT TAKEOFF. Wanderlust is returning, fitfully. Almost one-fifth of respondents in a UBS survey say they are ready to travel, over twice as many as two months earlier. And over 440,000 people passed through security on June 7, according to the Transportation Security Administration, more than quadruple the average in early April.
It is a start, but there is a long way to go. Airport traffic is still 80% lower than a year ago. American Airlines is preparing severance packages for high-level employees for when the terms of a recent government bailout expire, according to CNBC. Delta Air Lines said last week it will stop serving 11 cities.
Stock prices of major U.S. carriers are above their mid-March levels. But that says more about government support than imminent recovery. Over 40% of UBS respondents still don’t plan to travel for six months or more. That suggests a long summer of empty seats and dwindling cash piles. (By Lauren Silva Laughlin)
FLOWERS FOR BLACKSTONE. Steve Schwarzman’s buyout group in February struck a deal to buy Dutch bank NIBC for 1.3 billion euros. It has been clear for a while that the pre-pandemic price would have to be renegotiated. But Blackstone seems to have turned adversity into opportunity, knocking one-fifth off the price according to a statement on Monday.
Though it’s risky to take a bank private at the start of a downturn, Schwarzman’s dealmakers have a margin of safety. At 7 euros a share, Blackstone is paying investors like J.C. Flowers – which first bought into the bank in 2005 – two-thirds of 2020 tangible book value, using ABN Amro forecasts. That’s roughly where the top 20 European banks trade, before any takeout premium. Moreover, Citigroup analysts are forecasting an 8.5% return on equity for NIBC next year – higher than many other banks. Crisis dealmaking, when sellers have few other alternatives, has its advantages. (By Liam Proud)
TOUGH JOB. Economists are bad at predicting the future – now understanding the present may be tough too. The U.S. Bureau of Labor Statistics’ jobs report on Friday showed a shocking decline in the unemployment rate to around 13%. But as the bureau conceded, the rate would have been roughly 3 percentage points higher if workers classified as employed but not currently working for “other reasons,” above normal May levels, had been labeled as unemployed.
So does this change the story? Not really, because the same caveat applied in April: The 15% rate for that month would have increased by almost 5 percentage points. The numbers are slippery but the direction still holds.
Monthly economic reports don’t normally deal with such dramatic change, definitional uncertainty or distortion from massive government stimulus. The result, though, is that odd data points can easily appear to contradict other statistics. Financial pundits can still try to find trends – but with a big dose of humility. (By Anna Szymanski)
PUBLI-CAN’T. The British government’s plan to reopen pubs and restaurants on June 22 lifted stocks in chain Mitchells & Butlers by more than 15% while Marston’s, which also has breweries, rose 12%. Allowing establishments with outdoor spaces to operate two weeks earlier than previously expected is obviously good for the sector, but that reaction looks anything but rational.
Analysts are more sober. They predict a revenue decline of 30% for Marston’s and 36% for Mitchells & Butlers in the year ending in September, according to Refinitiv. Social distancing measures, even if reduced to keeping punters a metre apart, are going to eat into capacity, and many punters will stick to parks and gardens this summer. Investors, in their thirst for good news, are getting ahead of themselves. (By Dasha Afanasieva)
ELECTRIC FEEL. Boris Johnson may be following Angela Merkel’s lead. The UK prime minister is considering mimicking Germany’s plan to subsidise electric cars. According to the Telegraph, drivers will be given up to 6,000 pounds if they trade in their gas guzzlers for a battery-powered vehicle. Ironically, emissions-free cars were the only section of the market to register a year-on-year increase in sales last month as the rest of the market collapsed, but only by 429 vehicles, according to the Society of Motor Manufacturers and Traders.
Electric cars have accounted for just 4% of total sales so far this year, or roughly half Germany’s proportion. If Johnson wanted to double that it would cost him around 454 million pounds based on last year’s totals, assuming the full subsidy is applied. Faced with uncertain Brexit negotiations, the move might also buy him some goodwill with Nissan Motor and BMW, both of whom produce electric models in Britain. (By Christopher Thompson)
FASHION FRENZY. Wobbly brand Salvatore Ferragamo is enjoying a market revival. Shares in the Italian maker of finely crafted leather shoes jumped 8% on Friday amid hopes it could fall prey to luxury giant LVMH. This seems premature. The coronavirus crisis has clearly turned the 2.4 billion euro Italian brand into a target. But the French giant remains preoccupied with its $16.2 billion bid for famed U.S. jeweller Tiffany & Co.
At 2.7 times expected revenue, Ferragamo looks cheap compared to peers. But it’s too small to move the needle at Bernard Arnault’s 200 billion euro behemoth. Ferragamo needs a fresher look and investment. Assuming a 30% premium, a buyer would need to double the company’s operating margin and grow annual revenue by 5% a year until 2025 to earn a positive return on capital, Breakingviews calculations show. A private-equity takeover, or a marriage with a similar-sized local peer like Ermenegildo Zegna makes more sense. (By Lisa Jucca)
CHEQUE PLEASE. Suntory boss and government adviser Takeshi Niinami reckons more than 20% of bars and restaurants could fail due to the coronavirus pandemic. The owner of premium spirits brands Jim Beam and Maker’s Mark depends on the $230 billion local dining scene, and that explains why Suntory is backing Saki-meshi, a dining app that allows customers to pay for meals up to 180 days in advance to help restaurants with cash flow.
It’s similar to how American restaurants have sold dining bonds, or discounted gift certificates, but those unsecured debts can have little recovery value if the lights go out in ramen joints and tapas-style izakaya bars. With Japan’s vast economic stimulus package favouring subsidy support for premium ingredients like wagyu beef and melons over eating establishments, no wonder Suntory is tweaking the menu. (By Sharon Lam)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Assuming a 30% premium, a buyer would need to double the company’s operating margin and grow annual revenue by 5% a year until 2025 to earn a positive return on capital, Breakingviews calculations show. It’s similar to how American restaurants have sold dining bonds, or discounted gift certificates, but those unsecured debts can have little recovery value if the lights go out in ramen joints and tapas-style izakaya bars. With Japan’s vast economic stimulus package favouring subsidy support for premium ingredients like wagyu beef and melons over eating establishments, no wonder Suntory is tweaking the menu.
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The U.S. Bureau of Labor Statistics’ jobs report on Friday showed a shocking decline in the unemployment rate to around 13%. The coronavirus crisis has clearly turned the 2.4 billion euro Italian brand into a target. With Japan’s vast economic stimulus package favouring subsidy support for premium ingredients like wagyu beef and melons over eating establishments, no wonder Suntory is tweaking the menu.
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Steve Schwarzman’s buyout group in February struck a deal to buy Dutch bank NIBC for 1.3 billion euros. Monthly economic reports don’t normally deal with such dramatic change, definitional uncertainty or distortion from massive government stimulus. The owner of premium spirits brands Jim Beam and Maker’s Mark depends on the $230 billion local dining scene, and that explains why Suntory is backing Saki-meshi, a dining app that allows customers to pay for meals up to 180 days in advance to help restaurants with cash flow.
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Grubhub is trying to take the wheel from Uber Technologies. But Blackstone seems to have turned adversity into opportunity, knocking one-fifth off the price according to a statement on Monday. Moreover, Citigroup analysts are forecasting an 8.5% return on equity for NIBC next year – higher than many other banks.
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5734.0
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2020-06-08 00:00:00 UTC
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American Airlines Preparing for High-Level Layoffs, Says Report
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AAL
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https://www.nasdaq.com/articles/american-airlines-preparing-for-high-level-layoffs-says-report-2020-06-08
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American Airlines Group (NASDAQ: AAL) is preparing severance packages for upper management workers that get laid off as the company prepares to adjust its business to a lower demand environment, reports CNBC. The company announced in late May that it would need to cut 30% of management and administration jobs, as it believes demand for travel will be suppressed for years before returning to pre-pandemic levels.
This planning comes as near-term demand for travel has seen an uptick as the U.S. and other countries begin reopening economies after lockdown restrictions were in place to prevent the spread of the COVID-19 virus. Last week, American said that it was adding back some capacity for summer travel as May data showed an increase in customer demand.
Image source: Getty Images.
After May flights showed a 71% increase in average daily customers compared to April, 2020, the airline said that it plans to be at 55% of domestic capacity in July, compared to last year. The company is also offering travelers a "Summer of Deals" promotion for travel prior to Sept. 30, 2020. To double frequent flier mileage, fliers must book flights in June 2020 and register for the promotion.
However, with capacity still expected below pre-pandemic levels, the airline announced it is planning staff reductions of 5,000. American's executive vice president of people and global engagement said, "we must plan for operating a smaller airline for the foreseeable future." It hopes to get volunteers to accept buyouts by its deadline of this Wednesday, June 10.
If it must turn to involuntary job cuts, the airline is planning severance packages for high-level employees that include nine months of pay and over two years of health coverage, according to the CNBC report.
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
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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American Airlines Group (NASDAQ: AAL) is preparing severance packages for upper management workers that get laid off as the company prepares to adjust its business to a lower demand environment, reports CNBC. The company announced in late May that it would need to cut 30% of management and administration jobs, as it believes demand for travel will be suppressed for years before returning to pre-pandemic levels. This planning comes as near-term demand for travel has seen an uptick as the U.S. and other countries begin reopening economies after lockdown restrictions were in place to prevent the spread of the COVID-19 virus.
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American Airlines Group (NASDAQ: AAL) is preparing severance packages for upper management workers that get laid off as the company prepares to adjust its business to a lower demand environment, reports CNBC. If it must turn to involuntary job cuts, the airline is planning severance packages for high-level employees that include nine months of pay and over two years of health coverage, according to the CNBC report. 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) is preparing severance packages for upper management workers that get laid off as the company prepares to adjust its business to a lower demand environment, reports CNBC. 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. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Howard Smith has no position in any of the stocks mentioned.
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American Airlines Group (NASDAQ: AAL) is preparing severance packages for upper management workers that get laid off as the company prepares to adjust its business to a lower demand environment, reports CNBC. The company announced in late May that it would need to cut 30% of management and administration jobs, as it believes demand for travel will be suppressed for years before returning to pre-pandemic levels. That's right -- they think these 10 stocks are even better buys.
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5735.0
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2020-06-08 00:00:00 UTC
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This Hot Airline ETF Surged 67% in 3 Weeks: Why You Should Stay Away
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AAL
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https://www.nasdaq.com/articles/this-hot-airline-etf-surged-67-in-3-weeks%3A-why-you-should-stay-away-2020-06-08
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As the COVID-19 pandemic swept across the U.S. beginning a few months ago, airline traffic dried up. By mid-April, the TSA was screening fewer than 100,000 people a day, down 96% year over year.
Investors responded by dumping airline stocks indiscriminately. Despite the likelihood that business will eventually recover, even airlines with strong balance sheets like Alaska Air (NYSE: ALK) and JetBlue Airways (NASDAQ: JBLU) lost about two-thirds of their value in the span of a few weeks. This probably represented an overreaction.
Data source: YCharts.
Now, the pendulum has swung the other way. Investors have been pouring back into airline stocks in recent weeks, betting on a relatively speedy recovery. Many are doing so through the U.S. Global Jets ETF (NYSEMKT: JETS): the only major ETF tracking the airline industry. The diversification provided by the U.S. Global Jets ETF seems to be a major attraction for bullish investors. However, the kind of diversification offered by this ETF is not desirable -- and comes at a high price to boot.
A profitable bet, so far
Three months ago, the U.S. Global Jets ETF had just $33 million of assets under management. Since then, money has poured into the fund at a breathtaking pace, thanks to investors making a contrarian bet that airline stocks would bounce back. By the end of last week, the ETF's assets under management had swelled to $1.5 billion.
Younger investors appear to be a driving force behind this trend. On the millennial-focused Robinhood trading platform, between 200 and 400 investors were holding JETS shares at any given time in the two years prior to the COVID-19 pandemic. The number of Robinhood users holding the stock has exploded since then, growing from 364 on March 1 to 7,944 on April 1, 17,769 on May 1, and 34,603 as of June 5, according to Robintrack.
Most of these investors have done very well for themselves thus far. After a period of extreme volatility between mid-March and mid-May, airline stocks have taken off. As a result, the JETS ETF's share price has surged 67% over the past three weeks, rising from around $12 to just over $20.
Data source: YCharts.
However, past performance isn't a guarantee of future results. Upon closer examination, the U.S. Global Jets ETF looks like a poor investment choice -- even if you're relatively bullish about airlines (as I am).
Bad diversification
Diversification seems to be a key reason why some people are using the JETS ETF to bet on an airline revival. One 23-year-old Robinhood client recently told The Wall Street Journal, "I didn't want to make the mistake of buying one airline company or two airline companies where they're not running a tight financial ship. ... The natural diversification of the ETF is gonna allow me to kind of spread out my risk a little more."
This logic represents a mistake, albeit an understandable one. An index fund following the S&P 500 provides excellent diversification, as it provides exposure to a wide array of industries and business models. Furthermore, such ETFs have their assets weighted toward the most valuable (and presumably most successful) companies in the index.
By contrast, the U.S. Global Jets ETF has 70% of its assets invested in the top 10 U.S. airlines, with another 5% held in cash. Fully 25% of the fund's assets are invested in just two airlines: American Airlines (NASDAQ: AAL) and United Airlines (NASDAQ: UAL). These airlines have above-average debt loads and below-average historical profitability: particularly American. Furthermore, their exposure to long-haul international travel -- especially United -- and business travel makes them likely to recover more slowly than airlines focused on the domestic market and leisure travel.
The U.S. Global Jets ETF has 14% of its assets in American Airlines stock. Image source: American Airlines.
Meanwhile, Alaska Air and JetBlue have two of the best balance sheets in the industry, trailing only Southwest Airlines. They also have strong track records for profitability, a focus on the domestic market and leisure travel, and better long-term growth prospects than their larger rivals. Yet each of those companies account for just 4% of the U.S. Global Jets ETF's assets.
In other words, investing in this airline ETF doesn't provide meaningful diversification away from the U.S. airline industry. And among U.S. airlines, its assets are weighted toward riskier, less-successful companies that are arguably "not running a tight financial ship." Over the long term, the fund is likely to underperform shares of better-positioned airlines like JetBlue and Alaska.
High fees, too
Aside from the JETS ETF's subpar asset allocation, the fund charges a relatively high 0.6% expense ratio. That's more than four times the expense ratios of many prominent sector-specific ETFs. (ETFs following the broader market tend to have even lower expense ratios.)
The U.S. Global Jets ETF thus charges investors fees nearly on par with an actively managed mutual fund, while passively investing its assets in the airline industry, with a weighting toward the most troubled companies in the sector. Clearly, that's not a good deal for investors.
Investors who want to actively manage their holdings -- and bet on an eventual airline industry recovery -- should take the time to research individual airlines and pick the ones most likely to be long-term winners. The JETS ETF charges holders for the privilege of diversifying away from the best companies in the industry. Investors who don't want to take the time to research the sector would do well to stick to low-cost ETFs that track the broader market.
10 stocks we like better than U.S. Global Jets ETF
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 U.S. Global Jets ETF 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 owns shares of Alaska Air Group and JetBlue Airways and is long January 2022 $10 calls on JetBlue Airways. The Motley Fool recommends Alaska Air Group and JetBlue Airways. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Fully 25% of the fund's assets are invested in just two airlines: American Airlines (NASDAQ: AAL) and United Airlines (NASDAQ: UAL). Despite the likelihood that business will eventually recover, even airlines with strong balance sheets like Alaska Air (NYSE: ALK) and JetBlue Airways (NASDAQ: JBLU) lost about two-thirds of their value in the span of a few weeks. They also have strong track records for profitability, a focus on the domestic market and leisure travel, and better long-term growth prospects than their larger rivals.
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Fully 25% of the fund's assets are invested in just two airlines: American Airlines (NASDAQ: AAL) and United Airlines (NASDAQ: UAL). Despite the likelihood that business will eventually recover, even airlines with strong balance sheets like Alaska Air (NYSE: ALK) and JetBlue Airways (NASDAQ: JBLU) lost about two-thirds of their value in the span of a few weeks. One 23-year-old Robinhood client recently told The Wall Street Journal, "I didn't want to make the mistake of buying one airline company or two airline companies where they're not running a tight financial ship.
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Fully 25% of the fund's assets are invested in just two airlines: American Airlines (NASDAQ: AAL) and United Airlines (NASDAQ: UAL). Global Jets ETF (NYSEMKT: JETS): the only major ETF tracking the airline industry. Global Jets ETF has 14% of its assets in American Airlines stock.
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Fully 25% of the fund's assets are invested in just two airlines: American Airlines (NASDAQ: AAL) and United Airlines (NASDAQ: UAL). Most of these investors have done very well for themselves thus far. Global Jets ETF has 14% of its assets in American Airlines stock.
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5736.0
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2020-06-08 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Tesla, Carnival Corp, Opiant Pharmaceuticals
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AAL
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-tesla-carnival-corp-opiant-pharmaceuticals-2020-06-08
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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 indexes, S&P 500 and the Dow Jones were set to rise on Monday, building on last week's sharp gains after a surprise rebound in jobs strengthened views that the U.S. economy has weathered the worst of the economic fallout from the COVID-19 pandemic. .N
At 8:30 ET, Dow e-minis 1YMc1 were up 1.02% at 27,348. S&P 500 e-minis ESc1 were up 0.71% at 3,209.5, while Nasdaq 100 e-minis NQc1 were up 0.02% at 9,810. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Noble Corporation Plc , up 160.7% ** Chesapeake Energy , up 79.8% ** Highpoint Resources , up 80.0% The top three NYSE percentage losers premarket .PRPL.NQ: ** HB Fuller Co , down 30.2% ** Emergent Biosolutions , down 12% ** X Financial , down 8.6% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Enochian Biosciences Inc , up 289.6% ** Sino-Global Shipping America Ltd , up 136.0% ** Supercom Ltd , up 101.6% The top three Nasdaq percentage losers premarket .PRPL.O: ** Opiant Pharmaceuticals Inc , down 33.3% ** Fox Marble Holdings , down 17% ** Ascena Retail Group Inc , down 16.5% ** Gilead Sciences Inc GILD.O: up 4.2% premarket BUZZ-Rises on report AstraZeneca approached co for potential merger ** Cisco Systems Inc CSCO.O: down 0.2% premarket BUZZ- Evercore raises PT on long-term opportunities ** Yatra Online Inc YTRA.O: down 14.7% premarket BUZZ-India's Yatra sees worst day in a month on Ebix merger termination ** Chevron corp CVX.N: up 3.4% premarket BUZZ-JPM hikes PT on attractive cash margins, global asset base ** Tesla Inc TSLA.O: up 1.4% premarket BUZZ-Gains as China sales of Model 3 more than triple in May ** PG&E Corp PCG.N: down 0.7% premarket BUZZ-Shares drop on planned equity raises ** Evofem Biosciences Inc EVFM.O: up 6.9% premarket BUZZ-Piper Sandler see promise in contraceptive drug ** Seagate Technology Plc STX.O: up 1.1% premarket BUZZ-Rosenblatt starts with 'buy' on storage demand growth ** Freeport-McMoRan Inc FCX.N: up 2.8% premarket BUZZ-Copper to gain as trends signal demand surge - Jefferies ** American Airlines Group Inc AAL.O: up 7.0% premarket ** Carnival corp CCL.N: up 18.2% premarket ** Wynn Resorts Ltd WYNN.O: up 3.6% premarket BUZZ-U.S. airlines, cruise stocks jump on faster economic recovery hopes ** Dunkin' Brands Group Inc DNKN.O: up 5.3% premarket BUZZ-KeyBanc sees improving sales as U.S. states reopen; upgrades ** Sundial Growers Inc SNDL.O: up 12.2% premarket BUZZ-Gains after debt swap with creditors ** NXP Semiconductors NXPI.O: up 3.2% premarket BUZZ-Evercore raises to 'outperform' on automotive demand recovery ** Opiant Pharmaceuticals OPNT.O: down 33.3% premarket ** Emergent BioSolutions EBS.N: down 12.0% premarket BUZZ-Down after Teva wins patent dispute
(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: ** Noble Corporation Plc , up 160.7% ** Chesapeake Energy , up 79.8% ** Highpoint Resources , up 80.0% The top three NYSE percentage losers premarket .PRPL.NQ: ** HB Fuller Co , down 30.2% ** Emergent Biosolutions , down 12% ** X Financial , down 8.6% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Enochian Biosciences Inc , up 289.6% ** Sino-Global Shipping America Ltd , up 136.0% ** Supercom Ltd , up 101.6% The top three Nasdaq percentage losers premarket .PRPL.O: ** Opiant Pharmaceuticals Inc , down 33.3% ** Fox Marble Holdings , down 17% ** Ascena Retail Group Inc , down 16.5% ** Gilead Sciences Inc GILD.O: up 4.2% premarket BUZZ-Rises on report AstraZeneca approached co for potential merger ** Cisco Systems Inc CSCO.O: down 0.2% premarket BUZZ- Evercore raises PT on long-term opportunities ** Yatra Online Inc YTRA.O: down 14.7% premarket BUZZ-India's Yatra sees worst day in a month on Ebix merger termination ** Chevron corp CVX.N: up 3.4% premarket BUZZ-JPM hikes PT on attractive cash margins, global asset base ** Tesla Inc TSLA.O: up 1.4% premarket BUZZ-Gains as China sales of Model 3 more than triple in May ** PG&E Corp PCG.N: down 0.7% premarket BUZZ-Shares drop on planned equity raises ** Evofem Biosciences Inc EVFM.O: up 6.9% premarket BUZZ-Piper Sandler see promise in contraceptive drug ** Seagate Technology Plc STX.O: up 1.1% premarket BUZZ-Rosenblatt starts with 'buy' on storage demand growth ** Freeport-McMoRan Inc FCX.N: up 2.8% premarket BUZZ-Copper to gain as trends signal demand surge - Jefferies ** American Airlines Group Inc AAL.O: up 7.0% premarket ** Carnival corp CCL.N: up 18.2% premarket ** Wynn Resorts Ltd WYNN.O: up 3.6% premarket BUZZ-U.S. airlines, cruise stocks jump on faster economic recovery hopes ** Dunkin' Brands Group Inc DNKN.O: up 5.3% premarket BUZZ-KeyBanc sees improving sales as U.S. states reopen; upgrades ** Sundial Growers Inc SNDL.O: up 12.2% premarket BUZZ-Gains after debt swap with creditors ** NXP Semiconductors NXPI.O: up 3.2% premarket BUZZ-Evercore raises to 'outperform' on automotive demand recovery ** Opiant Pharmaceuticals OPNT.O: down 33.3% premarket ** Emergent BioSolutions EBS.N: down 12.0% premarket BUZZ-Down after Teva wins patent dispute (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 indexes, S&P 500 and the Dow Jones were set to rise on Monday, building on last week's sharp gains after a surprise rebound in jobs strengthened views that the U.S. economy has weathered the worst of the economic fallout from the COVID-19 pandemic. .N At 8:30 ET, Dow e-minis 1YMc1 were up 1.02% at 27,348.
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The top three NYSE percentage gainers premarket .PRPG.NQ: ** Noble Corporation Plc , up 160.7% ** Chesapeake Energy , up 79.8% ** Highpoint Resources , up 80.0% The top three NYSE percentage losers premarket .PRPL.NQ: ** HB Fuller Co , down 30.2% ** Emergent Biosolutions , down 12% ** X Financial , down 8.6% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Enochian Biosciences Inc , up 289.6% ** Sino-Global Shipping America Ltd , up 136.0% ** Supercom Ltd , up 101.6% The top three Nasdaq percentage losers premarket .PRPL.O: ** Opiant Pharmaceuticals Inc , down 33.3% ** Fox Marble Holdings , down 17% ** Ascena Retail Group Inc , down 16.5% ** Gilead Sciences Inc GILD.O: up 4.2% premarket BUZZ-Rises on report AstraZeneca approached co for potential merger ** Cisco Systems Inc CSCO.O: down 0.2% premarket BUZZ- Evercore raises PT on long-term opportunities ** Yatra Online Inc YTRA.O: down 14.7% premarket BUZZ-India's Yatra sees worst day in a month on Ebix merger termination ** Chevron corp CVX.N: up 3.4% premarket BUZZ-JPM hikes PT on attractive cash margins, global asset base ** Tesla Inc TSLA.O: up 1.4% premarket BUZZ-Gains as China sales of Model 3 more than triple in May ** PG&E Corp PCG.N: down 0.7% premarket BUZZ-Shares drop on planned equity raises ** Evofem Biosciences Inc EVFM.O: up 6.9% premarket BUZZ-Piper Sandler see promise in contraceptive drug ** Seagate Technology Plc STX.O: up 1.1% premarket BUZZ-Rosenblatt starts with 'buy' on storage demand growth ** Freeport-McMoRan Inc FCX.N: up 2.8% premarket BUZZ-Copper to gain as trends signal demand surge - Jefferies ** American Airlines Group Inc AAL.O: up 7.0% premarket ** Carnival corp CCL.N: up 18.2% premarket ** Wynn Resorts Ltd WYNN.O: up 3.6% premarket BUZZ-U.S. airlines, cruise stocks jump on faster economic recovery hopes ** Dunkin' Brands Group Inc DNKN.O: up 5.3% premarket BUZZ-KeyBanc sees improving sales as U.S. states reopen; upgrades ** Sundial Growers Inc SNDL.O: up 12.2% premarket BUZZ-Gains after debt swap with creditors ** NXP Semiconductors NXPI.O: up 3.2% premarket BUZZ-Evercore raises to 'outperform' on automotive demand recovery ** Opiant Pharmaceuticals OPNT.O: down 33.3% premarket ** Emergent BioSolutions EBS.N: down 12.0% premarket BUZZ-Down after Teva wins patent dispute (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 indexes, S&P 500 and the Dow Jones were set to rise on Monday, building on last week's sharp gains after a surprise rebound in jobs strengthened views that the U.S. economy has weathered the worst of the economic fallout from the COVID-19 pandemic. .N At 8:30 ET, Dow e-minis 1YMc1 were up 1.02% at 27,348.
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The top three NYSE percentage gainers premarket .PRPG.NQ: ** Noble Corporation Plc , up 160.7% ** Chesapeake Energy , up 79.8% ** Highpoint Resources , up 80.0% The top three NYSE percentage losers premarket .PRPL.NQ: ** HB Fuller Co , down 30.2% ** Emergent Biosolutions , down 12% ** X Financial , down 8.6% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Enochian Biosciences Inc , up 289.6% ** Sino-Global Shipping America Ltd , up 136.0% ** Supercom Ltd , up 101.6% The top three Nasdaq percentage losers premarket .PRPL.O: ** Opiant Pharmaceuticals Inc , down 33.3% ** Fox Marble Holdings , down 17% ** Ascena Retail Group Inc , down 16.5% ** Gilead Sciences Inc GILD.O: up 4.2% premarket BUZZ-Rises on report AstraZeneca approached co for potential merger ** Cisco Systems Inc CSCO.O: down 0.2% premarket BUZZ- Evercore raises PT on long-term opportunities ** Yatra Online Inc YTRA.O: down 14.7% premarket BUZZ-India's Yatra sees worst day in a month on Ebix merger termination ** Chevron corp CVX.N: up 3.4% premarket BUZZ-JPM hikes PT on attractive cash margins, global asset base ** Tesla Inc TSLA.O: up 1.4% premarket BUZZ-Gains as China sales of Model 3 more than triple in May ** PG&E Corp PCG.N: down 0.7% premarket BUZZ-Shares drop on planned equity raises ** Evofem Biosciences Inc EVFM.O: up 6.9% premarket BUZZ-Piper Sandler see promise in contraceptive drug ** Seagate Technology Plc STX.O: up 1.1% premarket BUZZ-Rosenblatt starts with 'buy' on storage demand growth ** Freeport-McMoRan Inc FCX.N: up 2.8% premarket BUZZ-Copper to gain as trends signal demand surge - Jefferies ** American Airlines Group Inc AAL.O: up 7.0% premarket ** Carnival corp CCL.N: up 18.2% premarket ** Wynn Resorts Ltd WYNN.O: up 3.6% premarket BUZZ-U.S. airlines, cruise stocks jump on faster economic recovery hopes ** Dunkin' Brands Group Inc DNKN.O: up 5.3% premarket BUZZ-KeyBanc sees improving sales as U.S. states reopen; upgrades ** Sundial Growers Inc SNDL.O: up 12.2% premarket BUZZ-Gains after debt swap with creditors ** NXP Semiconductors NXPI.O: up 3.2% premarket BUZZ-Evercore raises to 'outperform' on automotive demand recovery ** Opiant Pharmaceuticals OPNT.O: down 33.3% premarket ** Emergent BioSolutions EBS.N: down 12.0% premarket BUZZ-Down after Teva wins patent dispute (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 indexes, S&P 500 and the Dow Jones were set to rise on Monday, building on last week's sharp gains after a surprise rebound in jobs strengthened views that the U.S. economy has weathered the worst of the economic fallout from the COVID-19 pandemic. S&P 500 e-minis ESc1 were up 0.71% at 3,209.5, while Nasdaq 100 e-minis NQc1 were up 0.02% at 9,810.
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The top three NYSE percentage gainers premarket .PRPG.NQ: ** Noble Corporation Plc , up 160.7% ** Chesapeake Energy , up 79.8% ** Highpoint Resources , up 80.0% The top three NYSE percentage losers premarket .PRPL.NQ: ** HB Fuller Co , down 30.2% ** Emergent Biosolutions , down 12% ** X Financial , down 8.6% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Enochian Biosciences Inc , up 289.6% ** Sino-Global Shipping America Ltd , up 136.0% ** Supercom Ltd , up 101.6% The top three Nasdaq percentage losers premarket .PRPL.O: ** Opiant Pharmaceuticals Inc , down 33.3% ** Fox Marble Holdings , down 17% ** Ascena Retail Group Inc , down 16.5% ** Gilead Sciences Inc GILD.O: up 4.2% premarket BUZZ-Rises on report AstraZeneca approached co for potential merger ** Cisco Systems Inc CSCO.O: down 0.2% premarket BUZZ- Evercore raises PT on long-term opportunities ** Yatra Online Inc YTRA.O: down 14.7% premarket BUZZ-India's Yatra sees worst day in a month on Ebix merger termination ** Chevron corp CVX.N: up 3.4% premarket BUZZ-JPM hikes PT on attractive cash margins, global asset base ** Tesla Inc TSLA.O: up 1.4% premarket BUZZ-Gains as China sales of Model 3 more than triple in May ** PG&E Corp PCG.N: down 0.7% premarket BUZZ-Shares drop on planned equity raises ** Evofem Biosciences Inc EVFM.O: up 6.9% premarket BUZZ-Piper Sandler see promise in contraceptive drug ** Seagate Technology Plc STX.O: up 1.1% premarket BUZZ-Rosenblatt starts with 'buy' on storage demand growth ** Freeport-McMoRan Inc FCX.N: up 2.8% premarket BUZZ-Copper to gain as trends signal demand surge - Jefferies ** American Airlines Group Inc AAL.O: up 7.0% premarket ** Carnival corp CCL.N: up 18.2% premarket ** Wynn Resorts Ltd WYNN.O: up 3.6% premarket BUZZ-U.S. airlines, cruise stocks jump on faster economic recovery hopes ** Dunkin' Brands Group Inc DNKN.O: up 5.3% premarket BUZZ-KeyBanc sees improving sales as U.S. states reopen; upgrades ** Sundial Growers Inc SNDL.O: up 12.2% premarket BUZZ-Gains after debt swap with creditors ** NXP Semiconductors NXPI.O: up 3.2% premarket BUZZ-Evercore raises to 'outperform' on automotive demand recovery ** Opiant Pharmaceuticals OPNT.O: down 33.3% premarket ** Emergent BioSolutions EBS.N: down 12.0% premarket BUZZ-Down after Teva wins patent dispute (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 indexes, S&P 500 and the Dow Jones were set to rise on Monday, building on last week's sharp gains after a surprise rebound in jobs strengthened views that the U.S. economy has weathered the worst of the economic fallout from the COVID-19 pandemic. .N At 8:30 ET, Dow e-minis 1YMc1 were up 1.02% at 27,348.
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b5f9c75d-0ba1-4615-99db-e2592b0167a4
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5737.0
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2020-06-08 00:00:00 UTC
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U.S. stock futures rise on optimism over economic revival
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AAL
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https://www.nasdaq.com/articles/u.s.-stock-futures-rise-on-optimism-over-economic-revival-2020-06-08
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nan
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nan
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By Devik Jain and Medha Singh
June 8 (Reuters) - U.S. stock index futures rose on Monday as a surprisingly upbeat jobs report last week added to optimism that the world's biggest economy has weathered the worst fallout of the coronavirus outbreak.
Leading the gainers premarket were shares of companies hammered by the pandemic such as cruise line operators and airlines.
Carnival Corp CCL.N, Norwegian Cruise Line Holdings Ltd NCLH.N, American Airlines AAL.O and United Airlines Holdings UAL.O climbed between 10.6% and 17.5%.
The tech-heavy Nasdaq .IXIC closed within a striking distance of its Feb. 19 all-time peak on Friday after a closely-watched monthly jobs report showed an unexpected fall in unemployment rate.
The S&P 500 .SPX and the Dow .DJI are now 5.7% and 8.3% below their respective closing records after surging more than 45% from their pandemic lows hit on March 23 as most businesses have now reopened after weeks of shutdown to curb the spread of the virus.
This week's centerpiece is the Federal Reserve's two-day policy meeting, ending on Wednesday, where the jobs report is expected to be discussed.
It would be the first meeting since April when Fed Chair Jerome Powell said the U.S. economy could feel the weight of the economic shutdown for more than a year.
At 6:05 a.m. ET, Dow e-minis 1YMcv1 were up 139 points, or 0.51%. S&P 500 e-minis EScv1 were up 11.25 points, or 0.35% and Nasdaq 100 e-minis NQcv1 were up 2.5 points, or 0.03%.
Gilead Sciences GILD.O gained 3.2% after a report said Britain's AstraZeneca AZN.L had approached the U.S. rival about a possible merger to form one the world's largest drug companies.
Occidental Petroleum Corp OXY.N, Devon Energy Corp DVN.N and Marathon Oil Corp MRO.O gained between 16% and 17.5%, among the energy companies surging after major oil producers agreed to extend a deal on record output cuts. O/R
(Reporting by Devik Jain and Medha Singh in Bengaluru; Editing by Sriraj Kalluvila)
((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2062; ;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Carnival Corp CCL.N, Norwegian Cruise Line Holdings Ltd NCLH.N, American Airlines AAL.O and United Airlines Holdings UAL.O climbed between 10.6% and 17.5%. By Devik Jain and Medha Singh June 8 (Reuters) - U.S. stock index futures rose on Monday as a surprisingly upbeat jobs report last week added to optimism that the world's biggest economy has weathered the worst fallout of the coronavirus outbreak. The tech-heavy Nasdaq .IXIC closed within a striking distance of its Feb. 19 all-time peak on Friday after a closely-watched monthly jobs report showed an unexpected fall in unemployment rate.
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Carnival Corp CCL.N, Norwegian Cruise Line Holdings Ltd NCLH.N, American Airlines AAL.O and United Airlines Holdings UAL.O climbed between 10.6% and 17.5%. Occidental Petroleum Corp OXY.N, Devon Energy Corp DVN.N and Marathon Oil Corp MRO.O gained between 16% and 17.5%, among the energy companies surging after major oil producers agreed to extend a deal on record output cuts. O/R (Reporting by Devik Jain and Medha Singh in Bengaluru; Editing by Sriraj Kalluvila) ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2062; ;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Carnival Corp CCL.N, Norwegian Cruise Line Holdings Ltd NCLH.N, American Airlines AAL.O and United Airlines Holdings UAL.O climbed between 10.6% and 17.5%. By Devik Jain and Medha Singh June 8 (Reuters) - U.S. stock index futures rose on Monday as a surprisingly upbeat jobs report last week added to optimism that the world's biggest economy has weathered the worst fallout of the coronavirus outbreak. Occidental Petroleum Corp OXY.N, Devon Energy Corp DVN.N and Marathon Oil Corp MRO.O gained between 16% and 17.5%, among the energy companies surging after major oil producers agreed to extend a deal on record output cuts.
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Carnival Corp CCL.N, Norwegian Cruise Line Holdings Ltd NCLH.N, American Airlines AAL.O and United Airlines Holdings UAL.O climbed between 10.6% and 17.5%. By Devik Jain and Medha Singh June 8 (Reuters) - U.S. stock index futures rose on Monday as a surprisingly upbeat jobs report last week added to optimism that the world's biggest economy has weathered the worst fallout of the coronavirus outbreak. Leading the gainers premarket were shares of companies hammered by the pandemic such as cruise line operators and airlines.
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b927fd76-d9aa-4f62-bb50-0bdbc23aa09d
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5738.0
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2020-06-08 00:00:00 UTC
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Wall Street set to rise on swift economic rebound hopes
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AAL
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https://www.nasdaq.com/articles/wall-street-set-to-rise-on-swift-economic-rebound-hopes-2020-06-08
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nan
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nan
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By Devik Jain and Medha Singh
June 8 (Reuters) - The S&P 500 and the Dow Jones indexes were set to rise on Monday, building on last week's sharp gains after a surprise rebound in jobs strengthened views that the U.S. economy has weathered the worst of the economic fallout from the COVID-19 pandemic.
Hammered shares of cruise line operators and airlines, including Carnival Corp CCL.N, Royal Caribbean Cruises Ltd RCL.N, American Airlines AAL.O and United Airlines Holdings UAL.O, climbed between 7% and 16.5% in premarket trading.
Planemaker Boeing Co BA.N gained 8.2%, set to add to its 40% surge last week.
Aiding sentiment, major oil producers agreed to extend a deal on record output cuts over the weekend. Shares of energy companies Occidental Petroleum Corp OXY.N, Devon Energy Corp DVN.N and Marathon Oil Corp MRO.O jumped between 9% and 17.5%. O/R
U.S. stocks surged on Friday, with the tech-heavy Nasdaq .IXIC closing within a striking distance of its Feb. 19 all-time peak, after the unemployment rate in May unexpectedly fell. The S&P 500 had closed the week with a near 5% jump.
"The blowout jobs report has got economists talking about V-shaped recoveries," Jasper Lawler, head of research at London Capital Group said.
The benchmark S&P 500 .SPX and the Dow .DJI are now 5.7% and 8.3% away from their respective closing highs, after surging more than 45% from their pandemic lows hit on March 23, as most businesses reopened following weeks of virus-led shutdowns.
The S&P 500 is now about 1% away from recouping all of its losses in 2020.
The focus this week will be the Federal Reserve's two-day policy meeting, ending on Wednesday, where the jobs report is expected to be discussed.
It would be the first meeting since April when Fed Chair Jerome Powell said the U.S. economy could feel the weight of the economic shutdown for more than a year.
At 8:15 a.m. ET, Dow e-minis 1YMcv1 were up 223 points, or 0.82% and S&P 500 e-minis EScv1 were up 15.5 points, or 0.49%.
Nasdaq 100 e-minis NQcv1 were down 20.25 points, or 0.21%, a day after it closed at record levels for the first time since Feb. 19.
Gilead Sciences GILD.O gained 4.2% after a report said Britain's AstraZeneca AZN.L had approached the U.S. rival about a possible merger to form one of the world's largest drug companies.
Electric carmaker Tesla TSLA.O rose 1.4% after China sales of Shanghai-made Model 3 vehicles more than tripled in May, compared with the previous month.
(Reporting by Devik Jain and Medha Singh in Bengaluru; Editing by Sriraj Kalluvila and Uttaresh.V)
((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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Hammered shares of cruise line operators and airlines, including Carnival Corp CCL.N, Royal Caribbean Cruises Ltd RCL.N, American Airlines AAL.O and United Airlines Holdings UAL.O, climbed between 7% and 16.5% in premarket trading. By Devik Jain and Medha Singh June 8 (Reuters) - The S&P 500 and the Dow Jones indexes were set to rise on Monday, building on last week's sharp gains after a surprise rebound in jobs strengthened views that the U.S. economy has weathered the worst of the economic fallout from the COVID-19 pandemic. The benchmark S&P 500 .SPX and the Dow .DJI are now 5.7% and 8.3% away from their respective closing highs, after surging more than 45% from their pandemic lows hit on March 23, as most businesses reopened following weeks of virus-led shutdowns.
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Hammered shares of cruise line operators and airlines, including Carnival Corp CCL.N, Royal Caribbean Cruises Ltd RCL.N, American Airlines AAL.O and United Airlines Holdings UAL.O, climbed between 7% and 16.5% in premarket trading. By Devik Jain and Medha Singh June 8 (Reuters) - The S&P 500 and the Dow Jones indexes were set to rise on Monday, building on last week's sharp gains after a surprise rebound in jobs strengthened views that the U.S. economy has weathered the worst of the economic fallout from the COVID-19 pandemic. Shares of energy companies Occidental Petroleum Corp OXY.N, Devon Energy Corp DVN.N and Marathon Oil Corp MRO.O jumped between 9% and 17.5%.
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Hammered shares of cruise line operators and airlines, including Carnival Corp CCL.N, Royal Caribbean Cruises Ltd RCL.N, American Airlines AAL.O and United Airlines Holdings UAL.O, climbed between 7% and 16.5% in premarket trading. By Devik Jain and Medha Singh June 8 (Reuters) - The S&P 500 and the Dow Jones indexes were set to rise on Monday, building on last week's sharp gains after a surprise rebound in jobs strengthened views that the U.S. economy has weathered the worst of the economic fallout from the COVID-19 pandemic. The benchmark S&P 500 .SPX and the Dow .DJI are now 5.7% and 8.3% away from their respective closing highs, after surging more than 45% from their pandemic lows hit on March 23, as most businesses reopened following weeks of virus-led shutdowns.
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Hammered shares of cruise line operators and airlines, including Carnival Corp CCL.N, Royal Caribbean Cruises Ltd RCL.N, American Airlines AAL.O and United Airlines Holdings UAL.O, climbed between 7% and 16.5% in premarket trading. By Devik Jain and Medha Singh June 8 (Reuters) - The S&P 500 and the Dow Jones indexes were set to rise on Monday, building on last week's sharp gains after a surprise rebound in jobs strengthened views that the U.S. economy has weathered the worst of the economic fallout from the COVID-19 pandemic. Shares of energy companies Occidental Petroleum Corp OXY.N, Devon Energy Corp DVN.N and Marathon Oil Corp MRO.O jumped between 9% and 17.5%.
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4a15a3cd-6663-407a-a144-3fbee23aa74c
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5739.0
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2020-06-08 00:00:00 UTC
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Did You Really Miss Buying Delta Stock? Maybe Not.
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AAL
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https://www.nasdaq.com/articles/did-you-really-miss-buying-delta-stock-maybe-not.-2020-06-08
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
When it comes to Delta Airlines (NYSE:DAL), there have been some very profitable bears in 2020 and now there’s more than a few bulls making hay. But in the near-term, DAL stock looks a bit like that undesirable middle seat that only leads to frustration.
Source: NextNewMedia / Shutterstock.com
It was a good week for the stock market and in many ways even more so for Delta investors. The S&P 500 celebrated a weekly gain of nearly 5% to come fractionally of break-even in 2020. Half of those gains came on the back of Friday’s better-than-forecast monthly jobs grand finale. But shares of Delta soared higher by more than 35% for the five day period.
So, what gives? What’s with Delta’s sudden out-performance? Aside from Delta’s 5.5% market-assisted jobs lift, the bulk of the DAL stock rally was tied to two separate industry-related catalysts earlier in the week.
U.S. airlines jumped strongly during Wednesday’s session after President Donald Trump announced a ban of flights from China-based carriers beginning in mid-June. The restriction follows the Transportation Department accusing China of blocking U.S. airliners and marks the latest episode of a rekindled trade war set in motion by the novel coronavirus. In the aftermath of the decision, the US Global Jets ETF (NYSEARCA:JETS) tacked on 7.3% while DAL rallied to finish with slightly stronger gains of 7.8%.
7 Utility Stocks to Buy Keeping Lights On And Dividends Flowing
On Thursday commercial carrier American Airlines (NASDAQ:AAL) announced it expects 74% more flights in July over June, after promising ticket sales indications by American’s unshackled from Covid-19 stay-at-home mandates. Management went on to say July’s busiest day should more than double June’s single-day peak. By the close AAL shares had flown higher by about 41%. At the same time, DAL finished up 13.73% as investors took the news as a sure sign air travel is on the rebound.
Airline Stocks Moving Forward
So, has the world changed for Delta and the airline industry? In the span of a week, it certainly may seem that way for some investors. But just over a month ago, Wall Street was digesting a warning from Berkshire Hathaway’s (NYSE:BRK.B) Warren Buffett. In early May the legendary value investor stated “the world has changed” and not for the better for airliners.
The ominous proclamation was announced alongside news the investment firm had unloaded its entire airline stake. The industry exit, some of which had been purchased during the pandemic’s initial fallout, included unwinding sizable positions in Delta, Southwest Airlines (NYSE:LUV), American Airlines and United Airlines (NASDAQ:UAL) due to the negative long-term consequences and uncertainties of Covid-19.
DAL Stock Weekly Price Chart
Source: Charts by TradingView
Who are investors to believe when it comes to Delta? Should investors take a cue from Warren Buffett and shy away or even short airlines? Or could this be one of those instances, despite the group’s still challenging circumstances, where the Oracle of Omaha is wrong? According to the technical outlook, it’s best to avoid it for the time being.
Last week’s rally in Delta shares and now Monday’s continued follow-through has lifted shares squarely in between the 38% and 50% retracement levels. This area also holds a key high illustrated by the black line on the provided weekly chart, which follows a significant bearish price gap from March 12 during the Covid-19 fallout.
Given the sizable rally into this price zone, as well as stochastics just breaching oversold levels and record-breaking volume indicating too much short-term enthusiasm, resistance is increasingly likely to hold in the near-term. Eventually this barrier’s ability to act as resistance will fail. Sorry, Warren. For now, Delta shares are more deserved of being put on the radar for buying on a pullback in anticipation of profit-taking.
If I were to make a forecast of what a decline in share price might look like, I’d see $30 – $33 as an area where profit-taking is trumped by supportive buyers. The low end of the range is backed by 2016’s channel low and the 38% retracement level of the rally in Delta since bottoming in May. And the upper reaches of this zone? Bottom-line, in an imperfect world and a still very volatile stock, a 10% margin of error looks about right when it’s backed by the high of a failed and very bearishly-wrong descending triangle.
Investment accounts under Christopher Tyler’s management do not own positions in any securities mentioned in this article. The information offered is based upon Christopher Tyler’s observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. For additional market insights and related musings, follow Chris on Twitter @Options_CAT and StockTwits.
The post Did You Really Miss Buying Delta Stock? Maybe Not. appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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7 Utility Stocks to Buy Keeping Lights On And Dividends Flowing On Thursday commercial carrier American Airlines (NASDAQ:AAL) announced it expects 74% more flights in July over June, after promising ticket sales indications by American’s unshackled from Covid-19 stay-at-home mandates. By the close AAL shares had flown higher by about 41%. The restriction follows the Transportation Department accusing China of blocking U.S. airliners and marks the latest episode of a rekindled trade war set in motion by the novel coronavirus.
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7 Utility Stocks to Buy Keeping Lights On And Dividends Flowing On Thursday commercial carrier American Airlines (NASDAQ:AAL) announced it expects 74% more flights in July over June, after promising ticket sales indications by American’s unshackled from Covid-19 stay-at-home mandates. By the close AAL shares had flown higher by about 41%. InvestorPlace - Stock Market News, Stock Advice & Trading Tips When it comes to Delta Airlines (NYSE:DAL), there have been some very profitable bears in 2020 and now there’s more than a few bulls making hay.
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7 Utility Stocks to Buy Keeping Lights On And Dividends Flowing On Thursday commercial carrier American Airlines (NASDAQ:AAL) announced it expects 74% more flights in July over June, after promising ticket sales indications by American’s unshackled from Covid-19 stay-at-home mandates. By the close AAL shares had flown higher by about 41%. InvestorPlace - Stock Market News, Stock Advice & Trading Tips When it comes to Delta Airlines (NYSE:DAL), there have been some very profitable bears in 2020 and now there’s more than a few bulls making hay.
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7 Utility Stocks to Buy Keeping Lights On And Dividends Flowing On Thursday commercial carrier American Airlines (NASDAQ:AAL) announced it expects 74% more flights in July over June, after promising ticket sales indications by American’s unshackled from Covid-19 stay-at-home mandates. By the close AAL shares had flown higher by about 41%. InvestorPlace - Stock Market News, Stock Advice & Trading Tips When it comes to Delta Airlines (NYSE:DAL), there have been some very profitable bears in 2020 and now there’s more than a few bulls making hay.
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0eb83328-0ab8-4afe-b18d-4736c871cfee
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5740.0
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2020-06-08 00:00:00 UTC
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Why Airline Shares Are Flying Higher Today
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AAL
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https://www.nasdaq.com/articles/why-airline-shares-are-flying-higher-today-2020-06-08
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nan
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nan
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What happened
Airline shares got a lift on Monday after a prominent Wall Street analyst declared an initial rebound in travel demand is "real." The stocks have been rallying in recent days on hopes that the worst of the COVID-19 pandemic-related slowdown is over, but there remain a lot of skeptics about the rally.
Shares of Alaska Air Group (NYSE: ALK) and United Airlines Holdings (NASDAQ: UAL) were each up 10% as of 10:30 a.m. EDT, while shares of American Airlines Group (NASDAQ: AAL), Delta Air Lines (NYSE: DAL), Spirit Airlines (NYSE: SAVE), Hawaiian Holdings (NASDAQ: HA), JetBlue Airways (NASDAQ: JBLU), and Allegiant Travel (NASDAQ: ALGT) were all up more than 5%.
Southwest Airlines (NYSE: LUV) was the relative laggard of the group, but its 3.4% gain was still well above the broader market.
So what
It's been a wild year for airline investors, with the stocks losing more than half -- and in some cases nearly 80% -- of their value in March and early April as the pandemic swept through the U.S. market. Travel demand dropped significantly due to the pandemic, leaving airlines scrambling to cut costs and investors worried about potential bankruptcies.
Airline data by YCharts
That panic has faded, in part thanks to the airlines' success raising capital via private markets and through the CARES Act stimulus bill. But liquidity only buys time, and the real question facing airline investors is whether demand will return before the cash runs out.
The stocks have rallied in recent days on signs that travel is returning, with American Airlines gaining 40% in a single trading session after adding flights. The Transportation Security Administration screened more than 441,000 travelers on Sunday, the highest one-day total since March 22.
Image source: Getty Images.
Stocks moving 40% in one day tend to invite skepticism. But Bank of America analyst Andrew Didora gave the rally fresh legs in a note out Monday morning, declaring the "leisure rebound is real," and saying tourists and vacationers are once again looking to take to the skies.
The analyst said recent data backs his base case forecast that revenue would recover from down 90% to down 55% in the second half of 2020, buying the airlines more time. Didora upgraded Alaska Air to buy from neutral and JetBlue to neutral from underperform.
Now what
Didora did note that corporate travel, which he called the "true catalyst for the group," will take longer to recover. Leisure travel historically has tended to come back first following a downturn because it is more easily stimulated by low fares. That means the flying isn't likely to be immensely profitable for now, but if nothing else it means revenue is coming through the door.
The TSA numbers, while trending higher, are still down 80% year over year. I believe it will take years for travel volumes to fully recover to pre-pandemic levels, and it remains to be seen if the mix between more lucrative corporate travel and lower-margin vacationers ever returns to historical norms.
All this is to say that while investors have every reason to be excited by the direction airlines are headed, there is still a long, arduous journey ahead. A second wave of the pandemic could quickly negate the positive momentum we are seeing and put the balance sheets at risk again.
I believe it is safe to buy into airlines, but investors should limit themselves to small positions and focus on top names with the most resilient businesses. It seems unlikely the wild ride will end any time soon.
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 Alaska Air Group (NYSE: ALK) and United Airlines Holdings (NASDAQ: UAL) were each up 10% as of 10:30 a.m. EDT, while shares of American Airlines Group (NASDAQ: AAL), Delta Air Lines (NYSE: DAL), Spirit Airlines (NYSE: SAVE), Hawaiian Holdings (NASDAQ: HA), JetBlue Airways (NASDAQ: JBLU), and Allegiant Travel (NASDAQ: ALGT) were all up more than 5%. What happened Airline shares got a lift on Monday after a prominent Wall Street analyst declared an initial rebound in travel demand is "real." Travel demand dropped significantly due to the pandemic, leaving airlines scrambling to cut costs and investors worried about potential bankruptcies.
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Shares of Alaska Air Group (NYSE: ALK) and United Airlines Holdings (NASDAQ: UAL) were each up 10% as of 10:30 a.m. EDT, while shares of American Airlines Group (NASDAQ: AAL), Delta Air Lines (NYSE: DAL), Spirit Airlines (NYSE: SAVE), Hawaiian Holdings (NASDAQ: HA), JetBlue Airways (NASDAQ: JBLU), and Allegiant Travel (NASDAQ: ALGT) were all up 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. The Motley Fool recommends Alaska Air Group, Delta Air Lines, Hawaiian Holdings, JetBlue Airways, and Southwest Airlines.
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Shares of Alaska Air Group (NYSE: ALK) and United Airlines Holdings (NASDAQ: UAL) were each up 10% as of 10:30 a.m. EDT, while shares of American Airlines Group (NASDAQ: AAL), Delta Air Lines (NYSE: DAL), Spirit Airlines (NYSE: SAVE), Hawaiian Holdings (NASDAQ: HA), JetBlue Airways (NASDAQ: JBLU), and Allegiant Travel (NASDAQ: ALGT) were all up 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. The Motley Fool recommends Alaska Air Group, Delta Air Lines, Hawaiian Holdings, JetBlue Airways, and Southwest Airlines.
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Shares of Alaska Air Group (NYSE: ALK) and United Airlines Holdings (NASDAQ: UAL) were each up 10% as of 10:30 a.m. EDT, while shares of American Airlines Group (NASDAQ: AAL), Delta Air Lines (NYSE: DAL), Spirit Airlines (NYSE: SAVE), Hawaiian Holdings (NASDAQ: HA), JetBlue Airways (NASDAQ: JBLU), and Allegiant Travel (NASDAQ: ALGT) were all up more than 5%. But liquidity only buys time, and the real question facing airline investors is whether demand will return before the cash runs out. That's right -- they think these 10 stocks are even better buys.
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177d1373-6dd7-4220-9b1c-419a0631a6a8
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5741.0
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2020-06-08 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Sino-Global Shipping, Michaels Companies, Applied DNA
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AAL
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-sino-global-shipping-michaels-companies-applied-dna-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 rose on Monday, building on last week's sharp gains after a surprisingly upbeat jobs report raised bets of a swift recovery from a coronavirus-driven downturn. .N
At 11:30 ET, the Dow Jones Industrial Average .DJI was up 1.07% at 27,402.42. The S&P 500 .SPX was up 0.57% at 3,212.02 and the Nasdaq Composite .IXIC was up 0.33% at 9,846.614. The top three S&P 500 .PG.INX percentage gainers: ** Coty Inc , up 17.6% ** Boeing Co , up 12.6% ** Carnival Corp , up 12.3% The top three S&P 500 .PL.INX percentage losers: ** Amcor Plc , down 4% ** DaVita Inc , down 3.2% ** Corteva Inc , down 3.1% The top three NYSE .PG.N percentage gainers: ** Nine Energy Service , up 127.3%
** AG Mortgage Investment Trust MITT.N, up 107.2%
** Chesapeake Energy CHK.N, up 90.5% The top three NYSE .PL.N percentage losers: ** Emergent Biosolutions Inc , down 19.2% ** Direxion Daily S&P Oil and Gas , down 15.5% ** Direxion Daily S&P 500 High Beta Bear , down 12.1% The top three Nasdaq .PG.O percentage gainers: ** Rignet Inc , up 94.7% ** Supercom Ltd , up 92.9% ** Digital Ally , up 89.3% The top three Nasdaq .PL.O percentage losers: ** Opiant Pharmaceuticles , down 26% ** Ekso Bionics Holding , down 22.8% ** U.S. Energy Corp , down 15.1% ** Gilead Sciences Inc GILD.O: up 0.9%
BUZZ-Rises on report AstraZeneca approached co for potential merger ** Cisco Systems Inc CSCO.O: down 0.4%
BUZZ-Evercore raises PT on long-term opportunities ** Yatra Online Inc YTRA.O: down 19.0%
BUZZ-India's Yatra sees worst day in a month on Ebix merger termination ** Chevron corp CVX: up 0.9%
BUZZ-JPM hikes PT on attractive cash margins, global asset base ** Tesla Inc TSLA.O: up 4.9%
BUZZ-Gains as China sales of Model 3 more than triple in May ** Evofem Biosciences Inc EVFM.O: up 6.6%
BUZZ-Piper Sandler see promise in contraceptive drug ** Seagate Technology Plc STX.O: up 1.2%
BUZZ-Rosenblatt starts with 'buy' on storage demand growth ** Freeport-McMoRan Inc FCX.N: up 1.5%
BUZZ-Copper to gain as trends signal demand surge - Jefferies ** American Airlines Group Inc AAL.O: up 5.6% ** Carnival corp CCL.N: up 12.3% ** Wynn Resorts Ltd WYNN.O: up 3.8%
BUZZ-U.S. airlines, cruise stocks jump on faster economic recovery hopes ** Dunkin' Brands Group Inc DNKN.O: up 3.0%
BUZZ-KeyBanc sees improving sales as U.S. states reopen; upgrades ** Sundial Growers Inc SNDL.O: up 24.1%
BUZZ-Gains after debt swap with creditors ** NXP Semiconductors NXPI.O: up 2.4%
BUZZ-Evercore raises to 'outperform' on automotive demand recovery ** Opiant Pharmaceuticals OPNT.O: down 26.0% ** Emergent BioSolutions EBS.N: down 19.2%
BUZZ-Opiant Pharma, Emergent BioSolutions: Down after Teva wins patent dispute ** Amazon.com Inc AMZN.O: up 1.2%
BUZZ-RBC hikes Amazon's PT to a Street high of $3,300, says co primed to be structural winner ** Netflix Inc NFLX.O: down 1.8% ** Slack Technologies Inc WORK.N: down 3.6%
BUZZ-U.S. stay-at-home stocks fall as businesses reopen ** Thor Industries Inc THO.N: up 7.1%
BUZZ-Rises on surprise Q3 profit ** Digital Ally DGLY.O: up 89.3%
BUZZ-Second equity raise in a week takes some steam out of shares ** International Flavor & Fragrances IFF.N: down 1.9%
BUZZ-Slides after weak start to Q2 ** Aimmune Therapeutics AIMT.O: up 3.4%
BUZZ-Rises on positive data from peanut allergy drug trial ** Chembio Diagnostics Inc CEMI.O: up 8.7%
BUZZ-Rises on FDA clearance for Zika detection test ** Zillow Group ZG.O: up 5.9%
BUZZ-Needham upgrades on shift towards online realtors, shares rise ** Top Ships Inc TOPS.O: down 17.4%
BUZZ-Sinks on discounted share offer ** Michaels Companies Inc MIK.O: up 38.8%
BUZZ-Nears five-month high as JPM upgrades on likely sales growth ** Ekso Bionics Holdings EKSO.O: down 22.8%
BUZZ-Tumbles on direct stock offering ** Sarepta Therapeutics SRPT.O: up 7.0%
BUZZ-Up on positive results for experimental gene therapy ** ON Semiconductor ON.O: up 3.9%
BUZZ-Adopts poison pill, shares rise ** Sino-Global Shipping SINO.O: up 47.6%
BUZZ-Surges on new service agreement ** Applied DNA Sciences Inc APDN.O: up 11.1%
BUZZ-Rises on advancing COVID-19 vaccine development ** Clearwater Paper corp CLW.N: up 10.7%
BUZZ-Gains on raised Q2 outlook on strong tissue demand
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 0.13%
Consumer Discretionary
.SPLRCD
up 0.93%
Consumer Staples
.SPLRCS
up 0.44%
Energy
.SPNY
up 2.40%
Financial
.SPSY
up 1.30%
Health
.SPXHC
up 0.34%
Industrial
.SPLRCI
up 1.74%
Information Technology
.SPLRCT
down 0.38%
Materials
.SPLRCM
down 0.30%
Real Estate
.SPLRCR
up 1.67%
Utilities
.SPLRCU
up 1.51%
(Reporting 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: ** Coty Inc , up 17.6% ** Boeing Co , up 12.6% ** Carnival Corp , up 12.3% The top three S&P 500 .PL.INX percentage losers: ** Amcor Plc , down 4% ** DaVita Inc , down 3.2% ** Corteva Inc , down 3.1% The top three NYSE .PG.N percentage gainers: ** Nine Energy Service , up 127.3% ** AG Mortgage Investment Trust MITT.N, up 107.2% ** Chesapeake Energy CHK.N, up 90.5% The top three NYSE .PL.N percentage losers: ** Emergent Biosolutions Inc , down 19.2% ** Direxion Daily S&P Oil and Gas , down 15.5% ** Direxion Daily S&P 500 High Beta Bear , down 12.1% The top three Nasdaq .PG.O percentage gainers: ** Rignet Inc , up 94.7% ** Supercom Ltd , up 92.9% ** Digital Ally , up 89.3% The top three Nasdaq .PL.O percentage losers: ** Opiant Pharmaceuticles , down 26% ** Ekso Bionics Holding , down 22.8% ** U.S. Energy Corp , down 15.1% ** Gilead Sciences Inc GILD.O: up 0.9% BUZZ-Rises on report AstraZeneca approached co for potential merger ** Cisco Systems Inc CSCO.O: down 0.4% BUZZ-Evercore raises PT on long-term opportunities ** Yatra Online Inc YTRA.O: down 19.0% BUZZ-India's Yatra sees worst day in a month on Ebix merger termination ** Chevron corp CVX: up 0.9% BUZZ-JPM hikes PT on attractive cash margins, global asset base ** Tesla Inc TSLA.O: up 4.9% BUZZ-Gains as China sales of Model 3 more than triple in May ** Evofem Biosciences Inc EVFM.O: up 6.6% BUZZ-Piper Sandler see promise in contraceptive drug ** Seagate Technology Plc STX.O: up 1.2% BUZZ-Rosenblatt starts with 'buy' on storage demand growth ** Freeport-McMoRan Inc FCX.N: up 1.5% BUZZ-Copper to gain as trends signal demand surge - Jefferies ** American Airlines Group Inc AAL.O: up 5.6% ** Carnival corp CCL.N: up 12.3% ** Wynn Resorts Ltd WYNN.O: up 3.8% BUZZ-U.S. airlines, cruise stocks jump on faster economic recovery hopes ** Dunkin' Brands Group Inc DNKN.O: up 3.0% BUZZ-KeyBanc sees improving sales as U.S. states reopen; upgrades ** Sundial Growers Inc SNDL.O: up 24.1% BUZZ-Gains after debt swap with creditors ** NXP Semiconductors NXPI.O: up 2.4% BUZZ-Evercore raises to 'outperform' on automotive demand recovery ** Opiant Pharmaceuticals OPNT.O: down 26.0% ** Emergent BioSolutions EBS.N: down 19.2% BUZZ-Opiant Pharma, Emergent BioSolutions: Down after Teva wins patent dispute ** Amazon.com Inc AMZN.O: up 1.2% BUZZ-RBC hikes Amazon's PT to a Street high of $3,300, says co primed to be structural winner ** Netflix Inc NFLX.O: down 1.8% ** Slack Technologies Inc WORK.N: down 3.6% BUZZ-U.S. stay-at-home stocks fall as businesses reopen ** Thor Industries Inc THO.N: up 7.1% BUZZ-Rises on surprise Q3 profit ** Digital Ally DGLY.O: up 89.3% BUZZ-Second equity raise in a week takes some steam out of shares ** International Flavor & Fragrances IFF.N: down 1.9% BUZZ-Slides after weak start to Q2 ** Aimmune Therapeutics AIMT.O: up 3.4% BUZZ-Rises on positive data from peanut allergy drug trial ** Chembio Diagnostics Inc CEMI.O: up 8.7% BUZZ-Rises on FDA clearance for Zika detection test ** Zillow Group ZG.O: up 5.9% BUZZ-Needham upgrades on shift towards online realtors, shares rise ** Top Ships Inc TOPS.O: down 17.4% BUZZ-Sinks on discounted share offer ** Michaels Companies Inc MIK.O: up 38.8% BUZZ-Nears five-month high as JPM upgrades on likely sales growth ** Ekso Bionics Holdings EKSO.O: down 22.8% BUZZ-Tumbles on direct stock offering ** Sarepta Therapeutics SRPT.O: up 7.0% BUZZ-Up on positive results for experimental gene therapy ** ON Semiconductor ON.O: up 3.9% BUZZ-Adopts poison pill, shares rise ** Sino-Global Shipping SINO.O: up 47.6% BUZZ-Surges on new service agreement ** Applied DNA Sciences Inc APDN.O: up 11.1% BUZZ-Rises on advancing COVID-19 vaccine development ** Clearwater Paper corp CLW.N: up 10.7% BUZZ-Gains on raised Q2 outlook on strong tissue demand 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 rose on Monday, building on last week's sharp gains after a surprisingly upbeat jobs report raised bets of a swift recovery from a coronavirus-driven downturn. up 1.51% (Reporting 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: ** Coty Inc , up 17.6% ** Boeing Co , up 12.6% ** Carnival Corp , up 12.3% The top three S&P 500 .PL.INX percentage losers: ** Amcor Plc , down 4% ** DaVita Inc , down 3.2% ** Corteva Inc , down 3.1% The top three NYSE .PG.N percentage gainers: ** Nine Energy Service , up 127.3% ** AG Mortgage Investment Trust MITT.N, up 107.2% ** Chesapeake Energy CHK.N, up 90.5% The top three NYSE .PL.N percentage losers: ** Emergent Biosolutions Inc , down 19.2% ** Direxion Daily S&P Oil and Gas , down 15.5% ** Direxion Daily S&P 500 High Beta Bear , down 12.1% The top three Nasdaq .PG.O percentage gainers: ** Rignet Inc , up 94.7% ** Supercom Ltd , up 92.9% ** Digital Ally , up 89.3% The top three Nasdaq .PL.O percentage losers: ** Opiant Pharmaceuticles , down 26% ** Ekso Bionics Holding , down 22.8% ** U.S. Energy Corp , down 15.1% ** Gilead Sciences Inc GILD.O: up 0.9% BUZZ-Rises on report AstraZeneca approached co for potential merger ** Cisco Systems Inc CSCO.O: down 0.4% BUZZ-Evercore raises PT on long-term opportunities ** Yatra Online Inc YTRA.O: down 19.0% BUZZ-India's Yatra sees worst day in a month on Ebix merger termination ** Chevron corp CVX: up 0.9% BUZZ-JPM hikes PT on attractive cash margins, global asset base ** Tesla Inc TSLA.O: up 4.9% BUZZ-Gains as China sales of Model 3 more than triple in May ** Evofem Biosciences Inc EVFM.O: up 6.6% BUZZ-Piper Sandler see promise in contraceptive drug ** Seagate Technology Plc STX.O: up 1.2% BUZZ-Rosenblatt starts with 'buy' on storage demand growth ** Freeport-McMoRan Inc FCX.N: up 1.5% BUZZ-Copper to gain as trends signal demand surge - Jefferies ** American Airlines Group Inc AAL.O: up 5.6% ** Carnival corp CCL.N: up 12.3% ** Wynn Resorts Ltd WYNN.O: up 3.8% BUZZ-U.S. airlines, cruise stocks jump on faster economic recovery hopes ** Dunkin' Brands Group Inc DNKN.O: up 3.0% BUZZ-KeyBanc sees improving sales as U.S. states reopen; upgrades ** Sundial Growers Inc SNDL.O: up 24.1% BUZZ-Gains after debt swap with creditors ** NXP Semiconductors NXPI.O: up 2.4% BUZZ-Evercore raises to 'outperform' on automotive demand recovery ** Opiant Pharmaceuticals OPNT.O: down 26.0% ** Emergent BioSolutions EBS.N: down 19.2% BUZZ-Opiant Pharma, Emergent BioSolutions: Down after Teva wins patent dispute ** Amazon.com Inc AMZN.O: up 1.2% BUZZ-RBC hikes Amazon's PT to a Street high of $3,300, says co primed to be structural winner ** Netflix Inc NFLX.O: down 1.8% ** Slack Technologies Inc WORK.N: down 3.6% BUZZ-U.S. stay-at-home stocks fall as businesses reopen ** Thor Industries Inc THO.N: up 7.1% BUZZ-Rises on surprise Q3 profit ** Digital Ally DGLY.O: up 89.3% BUZZ-Second equity raise in a week takes some steam out of shares ** International Flavor & Fragrances IFF.N: down 1.9% BUZZ-Slides after weak start to Q2 ** Aimmune Therapeutics AIMT.O: up 3.4% BUZZ-Rises on positive data from peanut allergy drug trial ** Chembio Diagnostics Inc CEMI.O: up 8.7% BUZZ-Rises on FDA clearance for Zika detection test ** Zillow Group ZG.O: up 5.9% BUZZ-Needham upgrades on shift towards online realtors, shares rise ** Top Ships Inc TOPS.O: down 17.4% BUZZ-Sinks on discounted share offer ** Michaels Companies Inc MIK.O: up 38.8% BUZZ-Nears five-month high as JPM upgrades on likely sales growth ** Ekso Bionics Holdings EKSO.O: down 22.8% BUZZ-Tumbles on direct stock offering ** Sarepta Therapeutics SRPT.O: up 7.0% BUZZ-Up on positive results for experimental gene therapy ** ON Semiconductor ON.O: up 3.9% BUZZ-Adopts poison pill, shares rise ** Sino-Global Shipping SINO.O: up 47.6% BUZZ-Surges on new service agreement ** Applied DNA Sciences Inc APDN.O: up 11.1% BUZZ-Rises on advancing COVID-19 vaccine development ** Clearwater Paper corp CLW.N: up 10.7% BUZZ-Gains on raised Q2 outlook on strong tissue demand 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 rose on Monday, building on last week's sharp gains after a surprisingly upbeat jobs report raised bets of a swift recovery from a coronavirus-driven downturn. up 1.51% (Reporting 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: ** Coty Inc , up 17.6% ** Boeing Co , up 12.6% ** Carnival Corp , up 12.3% The top three S&P 500 .PL.INX percentage losers: ** Amcor Plc , down 4% ** DaVita Inc , down 3.2% ** Corteva Inc , down 3.1% The top three NYSE .PG.N percentage gainers: ** Nine Energy Service , up 127.3% ** AG Mortgage Investment Trust MITT.N, up 107.2% ** Chesapeake Energy CHK.N, up 90.5% The top three NYSE .PL.N percentage losers: ** Emergent Biosolutions Inc , down 19.2% ** Direxion Daily S&P Oil and Gas , down 15.5% ** Direxion Daily S&P 500 High Beta Bear , down 12.1% The top three Nasdaq .PG.O percentage gainers: ** Rignet Inc , up 94.7% ** Supercom Ltd , up 92.9% ** Digital Ally , up 89.3% The top three Nasdaq .PL.O percentage losers: ** Opiant Pharmaceuticles , down 26% ** Ekso Bionics Holding , down 22.8% ** U.S. Energy Corp , down 15.1% ** Gilead Sciences Inc GILD.O: up 0.9% BUZZ-Rises on report AstraZeneca approached co for potential merger ** Cisco Systems Inc CSCO.O: down 0.4% BUZZ-Evercore raises PT on long-term opportunities ** Yatra Online Inc YTRA.O: down 19.0% BUZZ-India's Yatra sees worst day in a month on Ebix merger termination ** Chevron corp CVX: up 0.9% BUZZ-JPM hikes PT on attractive cash margins, global asset base ** Tesla Inc TSLA.O: up 4.9% BUZZ-Gains as China sales of Model 3 more than triple in May ** Evofem Biosciences Inc EVFM.O: up 6.6% BUZZ-Piper Sandler see promise in contraceptive drug ** Seagate Technology Plc STX.O: up 1.2% BUZZ-Rosenblatt starts with 'buy' on storage demand growth ** Freeport-McMoRan Inc FCX.N: up 1.5% BUZZ-Copper to gain as trends signal demand surge - Jefferies ** American Airlines Group Inc AAL.O: up 5.6% ** Carnival corp CCL.N: up 12.3% ** Wynn Resorts Ltd WYNN.O: up 3.8% BUZZ-U.S. airlines, cruise stocks jump on faster economic recovery hopes ** Dunkin' Brands Group Inc DNKN.O: up 3.0% BUZZ-KeyBanc sees improving sales as U.S. states reopen; upgrades ** Sundial Growers Inc SNDL.O: up 24.1% BUZZ-Gains after debt swap with creditors ** NXP Semiconductors NXPI.O: up 2.4% BUZZ-Evercore raises to 'outperform' on automotive demand recovery ** Opiant Pharmaceuticals OPNT.O: down 26.0% ** Emergent BioSolutions EBS.N: down 19.2% BUZZ-Opiant Pharma, Emergent BioSolutions: Down after Teva wins patent dispute ** Amazon.com Inc AMZN.O: up 1.2% BUZZ-RBC hikes Amazon's PT to a Street high of $3,300, says co primed to be structural winner ** Netflix Inc NFLX.O: down 1.8% ** Slack Technologies Inc WORK.N: down 3.6% BUZZ-U.S. stay-at-home stocks fall as businesses reopen ** Thor Industries Inc THO.N: up 7.1% BUZZ-Rises on surprise Q3 profit ** Digital Ally DGLY.O: up 89.3% BUZZ-Second equity raise in a week takes some steam out of shares ** International Flavor & Fragrances IFF.N: down 1.9% BUZZ-Slides after weak start to Q2 ** Aimmune Therapeutics AIMT.O: up 3.4% BUZZ-Rises on positive data from peanut allergy drug trial ** Chembio Diagnostics Inc CEMI.O: up 8.7% BUZZ-Rises on FDA clearance for Zika detection test ** Zillow Group ZG.O: up 5.9% BUZZ-Needham upgrades on shift towards online realtors, shares rise ** Top Ships Inc TOPS.O: down 17.4% BUZZ-Sinks on discounted share offer ** Michaels Companies Inc MIK.O: up 38.8% BUZZ-Nears five-month high as JPM upgrades on likely sales growth ** Ekso Bionics Holdings EKSO.O: down 22.8% BUZZ-Tumbles on direct stock offering ** Sarepta Therapeutics SRPT.O: up 7.0% BUZZ-Up on positive results for experimental gene therapy ** ON Semiconductor ON.O: up 3.9% BUZZ-Adopts poison pill, shares rise ** Sino-Global Shipping SINO.O: up 47.6% BUZZ-Surges on new service agreement ** Applied DNA Sciences Inc APDN.O: up 11.1% BUZZ-Rises on advancing COVID-19 vaccine development ** Clearwater Paper corp CLW.N: up 10.7% BUZZ-Gains on raised Q2 outlook on strong tissue demand The 11 major S&P 500 sectors: Communication Services up 0.13% Consumer Discretionary up 0.93% Consumer Staples
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The top three S&P 500 .PG.INX percentage gainers: ** Coty Inc , up 17.6% ** Boeing Co , up 12.6% ** Carnival Corp , up 12.3% The top three S&P 500 .PL.INX percentage losers: ** Amcor Plc , down 4% ** DaVita Inc , down 3.2% ** Corteva Inc , down 3.1% The top three NYSE .PG.N percentage gainers: ** Nine Energy Service , up 127.3% ** AG Mortgage Investment Trust MITT.N, up 107.2% ** Chesapeake Energy CHK.N, up 90.5% The top three NYSE .PL.N percentage losers: ** Emergent Biosolutions Inc , down 19.2% ** Direxion Daily S&P Oil and Gas , down 15.5% ** Direxion Daily S&P 500 High Beta Bear , down 12.1% The top three Nasdaq .PG.O percentage gainers: ** Rignet Inc , up 94.7% ** Supercom Ltd , up 92.9% ** Digital Ally , up 89.3% The top three Nasdaq .PL.O percentage losers: ** Opiant Pharmaceuticles , down 26% ** Ekso Bionics Holding , down 22.8% ** U.S. Energy Corp , down 15.1% ** Gilead Sciences Inc GILD.O: up 0.9% BUZZ-Rises on report AstraZeneca approached co for potential merger ** Cisco Systems Inc CSCO.O: down 0.4% BUZZ-Evercore raises PT on long-term opportunities ** Yatra Online Inc YTRA.O: down 19.0% BUZZ-India's Yatra sees worst day in a month on Ebix merger termination ** Chevron corp CVX: up 0.9% BUZZ-JPM hikes PT on attractive cash margins, global asset base ** Tesla Inc TSLA.O: up 4.9% BUZZ-Gains as China sales of Model 3 more than triple in May ** Evofem Biosciences Inc EVFM.O: up 6.6% BUZZ-Piper Sandler see promise in contraceptive drug ** Seagate Technology Plc STX.O: up 1.2% BUZZ-Rosenblatt starts with 'buy' on storage demand growth ** Freeport-McMoRan Inc FCX.N: up 1.5% BUZZ-Copper to gain as trends signal demand surge - Jefferies ** American Airlines Group Inc AAL.O: up 5.6% ** Carnival corp CCL.N: up 12.3% ** Wynn Resorts Ltd WYNN.O: up 3.8% BUZZ-U.S. airlines, cruise stocks jump on faster economic recovery hopes ** Dunkin' Brands Group Inc DNKN.O: up 3.0% BUZZ-KeyBanc sees improving sales as U.S. states reopen; upgrades ** Sundial Growers Inc SNDL.O: up 24.1% BUZZ-Gains after debt swap with creditors ** NXP Semiconductors NXPI.O: up 2.4% BUZZ-Evercore raises to 'outperform' on automotive demand recovery ** Opiant Pharmaceuticals OPNT.O: down 26.0% ** Emergent BioSolutions EBS.N: down 19.2% BUZZ-Opiant Pharma, Emergent BioSolutions: Down after Teva wins patent dispute ** Amazon.com Inc AMZN.O: up 1.2% BUZZ-RBC hikes Amazon's PT to a Street high of $3,300, says co primed to be structural winner ** Netflix Inc NFLX.O: down 1.8% ** Slack Technologies Inc WORK.N: down 3.6% BUZZ-U.S. stay-at-home stocks fall as businesses reopen ** Thor Industries Inc THO.N: up 7.1% BUZZ-Rises on surprise Q3 profit ** Digital Ally DGLY.O: up 89.3% BUZZ-Second equity raise in a week takes some steam out of shares ** International Flavor & Fragrances IFF.N: down 1.9% BUZZ-Slides after weak start to Q2 ** Aimmune Therapeutics AIMT.O: up 3.4% BUZZ-Rises on positive data from peanut allergy drug trial ** Chembio Diagnostics Inc CEMI.O: up 8.7% BUZZ-Rises on FDA clearance for Zika detection test ** Zillow Group ZG.O: up 5.9% BUZZ-Needham upgrades on shift towards online realtors, shares rise ** Top Ships Inc TOPS.O: down 17.4% BUZZ-Sinks on discounted share offer ** Michaels Companies Inc MIK.O: up 38.8% BUZZ-Nears five-month high as JPM upgrades on likely sales growth ** Ekso Bionics Holdings EKSO.O: down 22.8% BUZZ-Tumbles on direct stock offering ** Sarepta Therapeutics SRPT.O: up 7.0% BUZZ-Up on positive results for experimental gene therapy ** ON Semiconductor ON.O: up 3.9% BUZZ-Adopts poison pill, shares rise ** Sino-Global Shipping SINO.O: up 47.6% BUZZ-Surges on new service agreement ** Applied DNA Sciences Inc APDN.O: up 11.1% BUZZ-Rises on advancing COVID-19 vaccine development ** Clearwater Paper corp CLW.N: up 10.7% BUZZ-Gains on raised Q2 outlook on strong tissue demand 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 rose on Monday, building on last week's sharp gains after a surprisingly upbeat jobs report raised bets of a swift recovery from a coronavirus-driven downturn. .N At 11:30 ET, the Dow Jones Industrial Average .DJI was up 1.07% at 27,402.42.
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01671322-5126-42e7-8d47-e4d6e0e53a3b
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5742.0
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2020-06-08 00:00:00 UTC
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Chile's biggest copper mines' output rises despite coronavirus: Cochilco
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AAL
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https://www.nasdaq.com/articles/chiles-biggest-copper-mines-output-rises-despite-coronavirus%3A-cochilco-2020-06-08
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nan
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nan
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By Fabian Cambero
SANTIAGO, June 8 (Reuters) - Copper production in Chile's top mines rose in April despite the generalised shutdown in the country aimed at halting the spread of the new coronavirus.
Chilean copper commission Cochilco said state miner Codelco, the world's top copper producer, saw production rise 2.8% year-on-year in April to 133,300 tonnes and 3.8% in the first four months of 2020, while BHP´s BHP.AX Escondida, the world's largest mine, pumped out 102,600 tonnes, a rise of 11.4% on the same month the previous year, an increase of 9% so far in 2020.
Collahuasi meanwhile, a joint-venture between Anglo American AAL.L and Glencore GLEN.L, produced 54,100 tonnes, a 45.8% year on year rise, and was up 22.6% in 2020.
Chile's total copper production rose 2.6% year-on-year to 470,600 tonnes, an increase of 3.8% to 1.87 million tonnes in the year.
The country has largely maintained operational capacity despite the coronavirus outbreak but the value of exports has been hit by the plummeting global copper price and sunken demand at the virus epicentre, China.
(Reporting by Fabian Cambero, writing by Aislinn Laing Editing by Marguerita Choy)
((Aislinn.Laing@thomsonreuters.com; +56 223704250;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Collahuasi meanwhile, a joint-venture between Anglo American AAL.L and Glencore GLEN.L, produced 54,100 tonnes, a 45.8% year on year rise, and was up 22.6% in 2020. By Fabian Cambero SANTIAGO, June 8 (Reuters) - Copper production in Chile's top mines rose in April despite the generalised shutdown in the country aimed at halting the spread of the new coronavirus. Chilean copper commission Cochilco said state miner Codelco, the world's top copper producer, saw production rise 2.8% year-on-year in April to 133,300 tonnes and 3.8% in the first four months of 2020, while BHP´s BHP.AX Escondida, the world's largest mine, pumped out 102,600 tonnes, a rise of 11.4% on the same month the previous year, an increase of 9% so far in 2020.
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Collahuasi meanwhile, a joint-venture between Anglo American AAL.L and Glencore GLEN.L, produced 54,100 tonnes, a 45.8% year on year rise, and was up 22.6% in 2020. By Fabian Cambero SANTIAGO, June 8 (Reuters) - Copper production in Chile's top mines rose in April despite the generalised shutdown in the country aimed at halting the spread of the new coronavirus. Chilean copper commission Cochilco said state miner Codelco, the world's top copper producer, saw production rise 2.8% year-on-year in April to 133,300 tonnes and 3.8% in the first four months of 2020, while BHP´s BHP.AX Escondida, the world's largest mine, pumped out 102,600 tonnes, a rise of 11.4% on the same month the previous year, an increase of 9% so far in 2020.
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Collahuasi meanwhile, a joint-venture between Anglo American AAL.L and Glencore GLEN.L, produced 54,100 tonnes, a 45.8% year on year rise, and was up 22.6% in 2020. By Fabian Cambero SANTIAGO, June 8 (Reuters) - Copper production in Chile's top mines rose in April despite the generalised shutdown in the country aimed at halting the spread of the new coronavirus. Chilean copper commission Cochilco said state miner Codelco, the world's top copper producer, saw production rise 2.8% year-on-year in April to 133,300 tonnes and 3.8% in the first four months of 2020, while BHP´s BHP.AX Escondida, the world's largest mine, pumped out 102,600 tonnes, a rise of 11.4% on the same month the previous year, an increase of 9% so far in 2020.
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Collahuasi meanwhile, a joint-venture between Anglo American AAL.L and Glencore GLEN.L, produced 54,100 tonnes, a 45.8% year on year rise, and was up 22.6% in 2020. Chile's total copper production rose 2.6% year-on-year to 470,600 tonnes, an increase of 3.8% to 1.87 million tonnes in the year. The country has largely maintained operational capacity despite the coronavirus outbreak but the value of exports has been hit by the plummeting global copper price and sunken demand at the virus epicentre, China.
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ad1fda2b-02ec-48d5-84d3-ed0dee337319
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5743.0
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2020-06-08 00:00:00 UTC
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The Ultimate Bailout for United Airlines May Be Bankruptcy
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AAL
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https://www.nasdaq.com/articles/the-ultimate-bailout-for-united-airlines-may-be-bankruptcy-2020-06-08
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
At United Airlines (NASDAQ:UAL), a lot of people are making money on a company that appears dead. That’s all thanks to UAL stock.
Source: travelview / Shutterstock.com
As was said in The Princess Bride, there’s dead and mostly dead. United Airlines is only mostly dead. Mostly dead is slightly alive.
United cut its schedule in May by 90%. This month only 3,000 of 25,000 flight attendants are working. Once its CARES Act bailout runs out in September, massive job cuts are expected.
Yet over the last month the company’s stock is up 100%.
What’s Going on With UAL Stock?
They say a dead cat will bounce if you throw it from a high enough building. At the start of 2020, UAL stock traded at over $85 per share. Even with the latest gains the shares open June 8 at $42.
7 Utility Stocks to Buy Keeping Lights On And Dividends Flowing
That’s a market capitalization of $12.3 billion, just over 10.6 times last year’s earnings. If the novel coronavirus can be beaten, and United Airlines can ramp up its schedule, it could become profitable. Investors are looking at the first quarter’s results, with revenue down only 30%, and they see opportunity.
To buy the stock, ignore the June quarter. Analysts expect revenue to be just $1.1 billion. It was nearly $8 billion in the March quarter. The expected loss of $9.56 per share comes to $2.8 billion. The new CEO, Scott Kirby, says his mission is to “get through hell” as quickly as possible.
The Case for Kirby
A big piece of the investing case for United is Kirby himself. He’s a former American Airlines (NASDAQ:AAL) president, and was the No. 2 at United for almost four years. He is known for being aggressive and hands-on.
United ended March with $5.2 billion in cash. It is expecting another $5 billion from the CARES Act, a $3.5 billion grant and another $1.5 billion low-interest loan. Investors expect that, plus cost-cutting moves, to get the airline safely into 2021.
Cutting costs means retiring up to one-quarter of the company’s fleet. Kirby says the remaining planes will be “more efficient” and investors believe him.
Kirby insists the company won’t file for bankruptcy and will keep flying middle seats, instead of blocking them out as Delta Air Lines (NYSE:DAL) and American are doing. “You can’t be six feet apart on an airplane,” he says, and bankruptcy “would be the absolute last thing to do.”
The Growing Risks
Investors are hearing Kirby’s “no bankruptcy” pledge as a guarantee. But he also says he doesn’t want to cut head count, just cut hours and furlough workers temporarily. The CARES Act bailout means there can be no layoffs until October anyway.
Then there’s the question of whether people will fly. Some analysts insist we will. Others say the recovery will take years.
Right now, Kirby and other optimists are assuming that 2021 is something close to normal. If it’s not, permanent layoffs and schedule cuts will be necessary, and United Airlines may indeed run out of cash.
The Bottom Line on United Airlines
The Federal Reserve’s helicopter money has put a lot of cash into investors’ hands. With good prospects priced beyond logic, some of that money is going into long-shot bets.
United is one of those bets.
If the pandemic resumes this fall, as many scientists believe it will, United’s plans for a comeback will be set back. A second government bailout is unlikely this fall, with an election a month away.
The ultimate bailout for any business is bankruptcy. Reduce the debt, cancel the equity, return to business. That’s what happened to the airline industry in the 2000s. The risk of it happening in this decade is very real. But if I’m wrong, you’ll profit.
Dana Blankenhorn has been a financial and technology journalist since 1978. He is the author of the environmental thriller Bridget O’Flynn and the Bear, available at the Amazon Kindle store. Follow him on Twitter at @danablankenhorn. As of this writing he owned no shares in companies mentioned in this story.
The post The Ultimate Bailout for United Airlines May Be Bankruptcy 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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He’s a former American Airlines (NASDAQ:AAL) president, and was the No. 7 Utility Stocks to Buy Keeping Lights On And Dividends Flowing That’s a market capitalization of $12.3 billion, just over 10.6 times last year’s earnings. Kirby insists the company won’t file for bankruptcy and will keep flying middle seats, instead of blocking them out as Delta Air Lines (NYSE:DAL) and American are doing.
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He’s a former American Airlines (NASDAQ:AAL) president, and was the No. InvestorPlace - Stock Market News, Stock Advice & Trading Tips At United Airlines (NASDAQ:UAL), a lot of people are making money on a company that appears dead. Once its CARES Act bailout runs out in September, massive job cuts are expected.
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He’s a former American Airlines (NASDAQ:AAL) president, and was the No. InvestorPlace - Stock Market News, Stock Advice & Trading Tips At United Airlines (NASDAQ:UAL), a lot of people are making money on a company that appears dead. United Airlines is only mostly dead.
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He’s a former American Airlines (NASDAQ:AAL) president, and was the No. InvestorPlace - Stock Market News, Stock Advice & Trading Tips At United Airlines (NASDAQ:UAL), a lot of people are making money on a company that appears dead. United Airlines is only mostly dead.
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a57019e1-02d5-4b3a-b31a-540b4e3500d5
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5744.0
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2020-06-08 00:00:00 UTC
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Wait for a Pullback in Southwest Airlines Before Diving In
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AAL
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https://www.nasdaq.com/articles/wait-for-a-pullback-in-southwest-airlines-before-diving-in-2020-06-08
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
On the heels of an air travel bounce back, Southwest Airlines (NYSE:LUV) has made an epic recovery as of late. Since May 15, shares have rallied tremendously. But, with LUV stock up more than 60% in less than a month, is it too late for investors to buy in as the stock remains below past highs?
Source: Carlos E. Santa Maria / Shutterstock.com
It’s debatable. On one hand, low-cost carriers like this company may be the better airline plays out there. Not saddled with high operating costs and pension liabilities like its rivals, once passengers return to the skies, Southwest could more quickly return to profitability.
On the other hand, speculation has gotten ahead of fundamentals. Investors have bid up airline stocks across the board. Investors have also piled into airline exchange-traded funds like the U.S. Global Jets ETF (NYSEARCA:JETS). With so many people looking to bet on a V-shaped airline recovery post-novel coronavirus, it’s no surprise this has happened. Even with just breadcrumbs of good news backing up the thesis.
The question is whether results will live up to high expectations for clear skies ahead. With this in mind, it may be too late to ride the wave with LUV stock. Nevertheless, with an operating model giving them an edge, shares could be a buy on a pullback.
Low-Cost Model Gives Southwest an Edge Over Legacy Rivals
Should you buy legacy carriers with a lot of baggage, like American Airlines (NASDAQ:AAL)? Or should you consider financially stronger names, like Southwest? The answer is crystal clear.
If you want to bet on a full airline recovery, go with quality. And that’s the situation with LUV stock. As InvestorPlace’s Will Ashworth wrote June 1, this airline has a much cleaner balance sheet. Also, given this carrier’s focus on domestic routes, they have less to lose if travelers continue to shun international flights due to mask-wearing requirements and other safety protocols that make a long-haul flight less appealing.
7 Utility Stocks to Buy Keeping Lights On And Dividends Flowing
Besides these advantages, Southwest has another edge over the “old school” airlines. That would be their low-cost structure. Obviously, this has been a decades-long advantage for them. Yet, today’s enviornment could make it an even greater strength.
How so? With lower operating costs, the carrier can better adapt to what CEO Gary Kelley deemed a “brutal low-fare environment” going forward. This could mean they have a better chance at returning to profitability, even as safety measures and low demand impact load factors.
Add in a recently announced employee buyout package, and the carrier can reduce its operating costs further. In short, the large but low-cost carrier could not just survive, but thrive in the “new normal.”
Yet, all of this is well known. The recent run-up factors this into the share price. And then some. With this in mind, there’s good reason why shares could head lower in the short-term.
What Could Sink LUV Stock in the Near-Term?
In my prior Southwest write-up, I was quite bearish on their near-term prospects. But while markets have proved me wrong as of late, there are risks to consider before diving into this stock.
Granted, the company’s capital raises during the pandemic will help minimize the impact of their current $30 million to $35 million daily cash burn. Yet, what happens if unprofitably continues, even as passengers start returning to the skies this summer? With the recent run-up in shares, investors have priced in too much, too soon.
Even if the forecast for air travel is less dire than it was a few weeks ago, it’s still a long road to rebound. The company itself doesn’t see a recovery until six to twelve months from now. In short, if investors buying today see that actual results this summer fall short of V-shaped expectations, shares could pull back from today’s “too hot to touch” prices.
Also, a rapid recovery for airlines is contingent on an economy firing on all cylinders again. But, tough times could continue. Even as the pandemic enters the rearview mirror. As InvestorPlace’s Josh Enomoto wrote May 22, job losses may be shifting from service-economy workers to middle class professionals. Add in concerns of weak consumer spending, and it’s tough to see discretionary purchases (like air travel) bouncing back as quickly as the stock market assumes.
Wait for a Pullback Before Diving Into Southwest
Given how airlines stocks have performed in the past week, you may be afraid of missing out, and want to dive into names like this company. But, weighing the carrier’s relative strength against economic uncertainty, joining the crowd may not be the best move right now.
So, what’s the play? Sit tight for now, but consider LUV stock a buy if it pulls back from today’s prices.
Thomas Niel, contributor to InvestorPlace, has written single-stock analysis since 2016. As of this writing, he did not hold a position in any of the aforementioned securities.
The post Wait for a Pullback in Southwest Airlines Before Diving In 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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Low-Cost Model Gives Southwest an Edge Over Legacy Rivals Should you buy legacy carriers with a lot of baggage, like American Airlines (NASDAQ:AAL)? 7 Utility Stocks to Buy Keeping Lights On And Dividends Flowing Besides these advantages, Southwest has another edge over the “old school” airlines. With lower operating costs, the carrier can better adapt to what CEO Gary Kelley deemed a “brutal low-fare environment” going forward.
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Low-Cost Model Gives Southwest an Edge Over Legacy Rivals Should you buy legacy carriers with a lot of baggage, like American Airlines (NASDAQ:AAL)? InvestorPlace - Stock Market News, Stock Advice & Trading Tips On the heels of an air travel bounce back, Southwest Airlines (NYSE:LUV) has made an epic recovery as of late. In short, if investors buying today see that actual results this summer fall short of V-shaped expectations, shares could pull back from today’s “too hot to touch” prices.
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Low-Cost Model Gives Southwest an Edge Over Legacy Rivals Should you buy legacy carriers with a lot of baggage, like American Airlines (NASDAQ:AAL)? InvestorPlace - Stock Market News, Stock Advice & Trading Tips On the heels of an air travel bounce back, Southwest Airlines (NYSE:LUV) has made an epic recovery as of late. But, with LUV stock up more than 60% in less than a month, is it too late for investors to buy in as the stock remains below past highs?
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Low-Cost Model Gives Southwest an Edge Over Legacy Rivals Should you buy legacy carriers with a lot of baggage, like American Airlines (NASDAQ:AAL)? InvestorPlace - Stock Market News, Stock Advice & Trading Tips On the heels of an air travel bounce back, Southwest Airlines (NYSE:LUV) has made an epic recovery as of late. But, with LUV stock up more than 60% in less than a month, is it too late for investors to buy in as the stock remains below past highs?
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b6d2ea81-d414-41f7-8dea-c9fa084911e7
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5745.0
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2020-06-08 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Boeing, Chesapeake Energy, Ideanomics
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AAL
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-boeing-chesapeake-energy-ideanomics-2020-06-08
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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 rose on Monday, with the Nasdaq hitting a record high for the second straight session, after a surprisingly upbeat jobs report last week raised bets of a swift recovery from a coronavirus-driven downturn. .N
At 13:00 ET, the Dow Jones Industrial Average .DJI was up 0.92% at 27,360.59. The S&P 500 .SPX was up 0.51% at 3,210.27 and the Nasdaq Composite .IXIC was up 0.39% at 9,852.024. The top three S&P 500 .PG.INX percentage gainers: ** Coty Inc , up 22.5% ** Alaska Air Group , up 15.6% ** Occidental Petroleum , up 13.7% The top three S&P 500 .PL.INX percentage losers: ** Amcor Plc , down 5.3% ** Corteva Inc , down 3.9% ** Jack Henry & Associates , down 3.3% The top three NYSE .PG.N percentage gainers: ** Chesapeake Energy , up 151.9% ** Valaris Plc , up 135.5% ** Whiting Petroleum Corp , up 89.1% The top three NYSE .PL.N percentage losers: ** Direxion Daily S&P Oil and Gas , down 21% ** Emergent Biosolutions , down 20.3% ** Direxion Daily S&P 500 High Beta Bear , down 12.4% The top three Nasdaq .PG.O percentage gainers: ** Rignet Inc , up 96.6% ** Supercom Ltd , up 90% ** Digital Ally , up 72.2% The top three Nasdaq .PL.O percentage losers: ** Ekso Bionics Holding , down 22% ** Opiant Pharmaceuticles , down 20.1% ** Ascena Retail Group , down 14.2% ** Gilead Sciences Inc GILD.O: up 0.4%
BUZZ-Rises on report AstraZeneca approached co for potential merger ** Cisco Systems Inc CSCO.O: down 0.6%
BUZZ-Evercore raises PT on long-term opportunities ** Yatra Online Inc YTRA.O: down 18.0%
BUZZ-India's Yatra sees worst day in a month on Ebix merger termination ** Chevron corp CVX: up 1.3%
BUZZ-JPM hikes PT on attractive cash margins, global asset base ** Tesla Inc TSLA.O: up 4.7%
BUZZ-Gains as China sales of Model 3 more than triple in May ** Evofem Biosciences Inc EVFM.O: up 5.6%
BUZZ-Piper Sandler see promise in contraceptive drug ** Seagate Technology Plc STX.O: up 1.8%
BUZZ-Rosenblatt starts with 'buy' on storage demand growth ** Freeport-McMoRan Inc FCX.N: up 2.9%
BUZZ-Copper to gain as trends signal demand surge - Jefferies ** American Airlines Group Inc AAL.O: up 7.0% ** Carnival corp CCL.N: up 11.6% ** Wynn Resorts Ltd WYNN.O: up 5.7%
BUZZ-U.S. airlines, cruise stocks jump on faster economic recovery hopes ** Dunkin' Brands Group Inc DNKN.O: up 2.5%
BUZZ-KeyBanc sees improving sales as U.S. states reopen; upgrades ** Sundial Growers Inc SNDL.O: up 29.3%
BUZZ-Gains after debt swap with creditors ** NXP Semiconductors NXPI.O: up 1.2%
BUZZ-Evercore raises to 'outperform' on automotive demand recovery ** Opiant Pharmaceuticals OPNT.O: down 20.1% ** Emergent BioSolutions EBS.N: down 20.3%
BUZZ-Opiant Pharma, Emergent BioSolutions: Down after Teva wins patent dispute ** Amazon.com Inc AMZN.O: up 1.1%
BUZZ-RBC hikes Amazon's PT to a Street high of $3,300, says co primed to be structural winner ** Netflix Inc NFLX.O: down 1.2% ** Slack Technologies Inc WORK.N: down 3.1%
BUZZ-U.S. stay-at-home stocks fall as businesses reopen ** Thor Industries Inc THO.N: up 13.3%
BUZZ-Rises on surprise Q3 profit ** Digital Ally DGLY.O: up 72.2%
BUZZ-Continues run after co raises equity, launches body camera service ** International Flavor & Fragrances IFF.N: down 2.2%
BUZZ-Slides after weak start to Q2 ** Aimmune Therapeutics AIMT.O: up 3.9%
BUZZ-Rises on positive data from peanut allergy drug trial ** Chembio Diagnostics Inc CEMI.O: up 8.3%
BUZZ-Rises on FDA clearance for Zika detection test ** Zillow Group ZG.O: up 5.1%
BUZZ-Needham upgrades on shift towards online realtors, shares rise ** Michaels Companies Inc MIK.O: up 42.1%
BUZZ-Nears five-month high as JPM upgrades on likely sales growth ** Ekso Bionics Holdings EKSO.O: down 22.0%
BUZZ-Tumbles on direct stock offering ** Sarepta Therapeutics SRPT.O: up 7.6%
BUZZ-Up on positive results for experimental gene therapy ** ON Semiconductor ON.O: up 2.5%
BUZZ-Adopts poison pill, shares rise ** Sino-Global Shipping SINO.O: up 31.2%
BUZZ-Surges on new service agreement ** Applied DNA Sciences Inc APDN.O: up 10.0%
BUZZ-Rises on advancing COVID-19 vaccine development ** Clearwater Paper corp CLW.N: up 16.4%
BUZZ-Gains on raised Q2 outlook on strong tissue demand ** Jazz Pharmaceuticals JAZZ.O: down 3.5% ** Glaukos Corp GKOS.N: down 7.3%
BUZZ-Jazz Pharma, Glaukos fall as cos look to join convertible bandwagon
** Crocs Inc CROX.O: up 7.0%
BUZZ-Gains as brokerages raise PT on management's recovery hopes ** Enochian BioSciences ENOB.O: up 54.6%
BUZZ-surges on advancing potential HIV treatment ** Avalon GloboCare AVCO.O: up 7.0%
BUZZ-Rises on deal to co-develop COVID-19 diagnostic tests ** Ideanomics IDEX.O: up 32.5%
BUZZ-Soars on beginning delivery of electric taxis ** Chesapeake Energy CHK.N: up 151.9%
BUZZ-shares more than triple in heavy volume trading ** Boeing Co BA.N: up 12.0%
BUZZ-Gains; shares surge 163% since hitting year-low in March
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 0.12%
Consumer Discretionary
.SPLRCD
up 0.81%
Consumer Staples
.SPLRCS
up 0.46%
Energy
.SPNY
up 3.10%
Financial
.SPSY
up 1.03%
Health
.SPXHC
up 0.28%
Industrial
.SPLRCI
up 1.58%
Information Technology
.SPLRCT
down 0.39%
Materials
.SPLRCM
down 0.62%
Real Estate
.SPLRCR
up 1.69%
Utilities
.SPLRCU
up 1.95%
(Reporting 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: ** Coty Inc , up 22.5% ** Alaska Air Group , up 15.6% ** Occidental Petroleum , up 13.7% The top three S&P 500 .PL.INX percentage losers: ** Amcor Plc , down 5.3% ** Corteva Inc , down 3.9% ** Jack Henry & Associates , down 3.3% The top three NYSE .PG.N percentage gainers: ** Chesapeake Energy , up 151.9% ** Valaris Plc , up 135.5% ** Whiting Petroleum Corp , up 89.1% The top three NYSE .PL.N percentage losers: ** Direxion Daily S&P Oil and Gas , down 21% ** Emergent Biosolutions , down 20.3% ** Direxion Daily S&P 500 High Beta Bear , down 12.4% The top three Nasdaq .PG.O percentage gainers: ** Rignet Inc , up 96.6% ** Supercom Ltd , up 90% ** Digital Ally , up 72.2% The top three Nasdaq .PL.O percentage losers: ** Ekso Bionics Holding , down 22% ** Opiant Pharmaceuticles , down 20.1% ** Ascena Retail Group , down 14.2% ** Gilead Sciences Inc GILD.O: up 0.4% BUZZ-Rises on report AstraZeneca approached co for potential merger ** Cisco Systems Inc CSCO.O: down 0.6% BUZZ-Evercore raises PT on long-term opportunities ** Yatra Online Inc YTRA.O: down 18.0% BUZZ-India's Yatra sees worst day in a month on Ebix merger termination ** Chevron corp CVX: up 1.3% BUZZ-JPM hikes PT on attractive cash margins, global asset base ** Tesla Inc TSLA.O: up 4.7% BUZZ-Gains as China sales of Model 3 more than triple in May ** Evofem Biosciences Inc EVFM.O: up 5.6% BUZZ-Piper Sandler see promise in contraceptive drug ** Seagate Technology Plc STX.O: up 1.8% BUZZ-Rosenblatt starts with 'buy' on storage demand growth ** Freeport-McMoRan Inc FCX.N: up 2.9% BUZZ-Copper to gain as trends signal demand surge - Jefferies ** American Airlines Group Inc AAL.O: up 7.0% ** Carnival corp CCL.N: up 11.6% ** Wynn Resorts Ltd WYNN.O: up 5.7% BUZZ-U.S. airlines, cruise stocks jump on faster economic recovery hopes ** Dunkin' Brands Group Inc DNKN.O: up 2.5% BUZZ-KeyBanc sees improving sales as U.S. states reopen; upgrades ** Sundial Growers Inc SNDL.O: up 29.3% BUZZ-Gains after debt swap with creditors ** NXP Semiconductors NXPI.O: up 1.2% BUZZ-Evercore raises to 'outperform' on automotive demand recovery ** Opiant Pharmaceuticals OPNT.O: down 20.1% ** Emergent BioSolutions EBS.N: down 20.3% BUZZ-Opiant Pharma, Emergent BioSolutions: Down after Teva wins patent dispute ** Amazon.com Inc AMZN.O: up 1.1% BUZZ-RBC hikes Amazon's PT to a Street high of $3,300, says co primed to be structural winner ** Netflix Inc NFLX.O: down 1.2% ** Slack Technologies Inc WORK.N: down 3.1% BUZZ-U.S. stay-at-home stocks fall as businesses reopen ** Thor Industries Inc THO.N: up 13.3% BUZZ-Rises on surprise Q3 profit ** Digital Ally DGLY.O: up 72.2% BUZZ-Continues run after co raises equity, launches body camera service ** International Flavor & Fragrances IFF.N: down 2.2% BUZZ-Slides after weak start to Q2 ** Aimmune Therapeutics AIMT.O: up 3.9% BUZZ-Rises on positive data from peanut allergy drug trial ** Chembio Diagnostics Inc CEMI.O: up 8.3% BUZZ-Rises on FDA clearance for Zika detection test ** Zillow Group ZG.O: up 5.1% BUZZ-Needham upgrades on shift towards online realtors, shares rise ** Michaels Companies Inc MIK.O: up 42.1% BUZZ-Nears five-month high as JPM upgrades on likely sales growth ** Ekso Bionics Holdings EKSO.O: down 22.0% BUZZ-Tumbles on direct stock offering ** Sarepta Therapeutics SRPT.O: up 7.6% BUZZ-Up on positive results for experimental gene therapy ** ON Semiconductor ON.O: up 2.5% BUZZ-Adopts poison pill, shares rise ** Sino-Global Shipping SINO.O: up 31.2% BUZZ-Surges on new service agreement ** Applied DNA Sciences Inc APDN.O: up 10.0% BUZZ-Rises on advancing COVID-19 vaccine development ** Clearwater Paper corp CLW.N: up 16.4% BUZZ-Gains on raised Q2 outlook on strong tissue demand ** Jazz Pharmaceuticals JAZZ.O: down 3.5% ** Glaukos Corp GKOS.N: down 7.3% BUZZ-Jazz Pharma, Glaukos fall as cos look to join convertible bandwagon ** Crocs Inc CROX.O: up 7.0% BUZZ-Gains as brokerages raise PT on management's recovery hopes ** Enochian BioSciences ENOB.O: up 54.6% BUZZ-surges on advancing potential HIV treatment ** Avalon GloboCare AVCO.O: up 7.0% BUZZ-Rises on deal to co-develop COVID-19 diagnostic tests ** Ideanomics IDEX.O: up 32.5% BUZZ-Soars on beginning delivery of electric taxis ** Chesapeake Energy CHK.N: up 151.9% BUZZ-shares more than triple in heavy volume trading ** Boeing Co BA.N: up 12.0% BUZZ-Gains; shares surge 163% since hitting year-low in March 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 rose on Monday, with the Nasdaq hitting a record high for the second straight session, after a surprisingly upbeat jobs report last week raised bets of a swift recovery from a coronavirus-driven downturn. up 1.95% (Reporting 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: ** Coty Inc , up 22.5% ** Alaska Air Group , up 15.6% ** Occidental Petroleum , up 13.7% The top three S&P 500 .PL.INX percentage losers: ** Amcor Plc , down 5.3% ** Corteva Inc , down 3.9% ** Jack Henry & Associates , down 3.3% The top three NYSE .PG.N percentage gainers: ** Chesapeake Energy , up 151.9% ** Valaris Plc , up 135.5% ** Whiting Petroleum Corp , up 89.1% The top three NYSE .PL.N percentage losers: ** Direxion Daily S&P Oil and Gas , down 21% ** Emergent Biosolutions , down 20.3% ** Direxion Daily S&P 500 High Beta Bear , down 12.4% The top three Nasdaq .PG.O percentage gainers: ** Rignet Inc , up 96.6% ** Supercom Ltd , up 90% ** Digital Ally , up 72.2% The top three Nasdaq .PL.O percentage losers: ** Ekso Bionics Holding , down 22% ** Opiant Pharmaceuticles , down 20.1% ** Ascena Retail Group , down 14.2% ** Gilead Sciences Inc GILD.O: up 0.4% BUZZ-Rises on report AstraZeneca approached co for potential merger ** Cisco Systems Inc CSCO.O: down 0.6% BUZZ-Evercore raises PT on long-term opportunities ** Yatra Online Inc YTRA.O: down 18.0% BUZZ-India's Yatra sees worst day in a month on Ebix merger termination ** Chevron corp CVX: up 1.3% BUZZ-JPM hikes PT on attractive cash margins, global asset base ** Tesla Inc TSLA.O: up 4.7% BUZZ-Gains as China sales of Model 3 more than triple in May ** Evofem Biosciences Inc EVFM.O: up 5.6% BUZZ-Piper Sandler see promise in contraceptive drug ** Seagate Technology Plc STX.O: up 1.8% BUZZ-Rosenblatt starts with 'buy' on storage demand growth ** Freeport-McMoRan Inc FCX.N: up 2.9% BUZZ-Copper to gain as trends signal demand surge - Jefferies ** American Airlines Group Inc AAL.O: up 7.0% ** Carnival corp CCL.N: up 11.6% ** Wynn Resorts Ltd WYNN.O: up 5.7% BUZZ-U.S. airlines, cruise stocks jump on faster economic recovery hopes ** Dunkin' Brands Group Inc DNKN.O: up 2.5% BUZZ-KeyBanc sees improving sales as U.S. states reopen; upgrades ** Sundial Growers Inc SNDL.O: up 29.3% BUZZ-Gains after debt swap with creditors ** NXP Semiconductors NXPI.O: up 1.2% BUZZ-Evercore raises to 'outperform' on automotive demand recovery ** Opiant Pharmaceuticals OPNT.O: down 20.1% ** Emergent BioSolutions EBS.N: down 20.3% BUZZ-Opiant Pharma, Emergent BioSolutions: Down after Teva wins patent dispute ** Amazon.com Inc AMZN.O: up 1.1% BUZZ-RBC hikes Amazon's PT to a Street high of $3,300, says co primed to be structural winner ** Netflix Inc NFLX.O: down 1.2% ** Slack Technologies Inc WORK.N: down 3.1% BUZZ-U.S. stay-at-home stocks fall as businesses reopen ** Thor Industries Inc THO.N: up 13.3% BUZZ-Rises on surprise Q3 profit ** Digital Ally DGLY.O: up 72.2% BUZZ-Continues run after co raises equity, launches body camera service ** International Flavor & Fragrances IFF.N: down 2.2% BUZZ-Slides after weak start to Q2 ** Aimmune Therapeutics AIMT.O: up 3.9% BUZZ-Rises on positive data from peanut allergy drug trial ** Chembio Diagnostics Inc CEMI.O: up 8.3% BUZZ-Rises on FDA clearance for Zika detection test ** Zillow Group ZG.O: up 5.1% BUZZ-Needham upgrades on shift towards online realtors, shares rise ** Michaels Companies Inc MIK.O: up 42.1% BUZZ-Nears five-month high as JPM upgrades on likely sales growth ** Ekso Bionics Holdings EKSO.O: down 22.0% BUZZ-Tumbles on direct stock offering ** Sarepta Therapeutics SRPT.O: up 7.6% BUZZ-Up on positive results for experimental gene therapy ** ON Semiconductor ON.O: up 2.5% BUZZ-Adopts poison pill, shares rise ** Sino-Global Shipping SINO.O: up 31.2% BUZZ-Surges on new service agreement ** Applied DNA Sciences Inc APDN.O: up 10.0% BUZZ-Rises on advancing COVID-19 vaccine development ** Clearwater Paper corp CLW.N: up 16.4% BUZZ-Gains on raised Q2 outlook on strong tissue demand ** Jazz Pharmaceuticals JAZZ.O: down 3.5% ** Glaukos Corp GKOS.N: down 7.3% BUZZ-Jazz Pharma, Glaukos fall as cos look to join convertible bandwagon ** Crocs Inc CROX.O: up 7.0% BUZZ-Gains as brokerages raise PT on management's recovery hopes ** Enochian BioSciences ENOB.O: up 54.6% BUZZ-surges on advancing potential HIV treatment ** Avalon GloboCare AVCO.O: up 7.0% BUZZ-Rises on deal to co-develop COVID-19 diagnostic tests ** Ideanomics IDEX.O: up 32.5% BUZZ-Soars on beginning delivery of electric taxis ** Chesapeake Energy CHK.N: up 151.9% BUZZ-shares more than triple in heavy volume trading ** Boeing Co BA.N: up 12.0% BUZZ-Gains; shares surge 163% since hitting year-low in March 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 rose on Monday, with the Nasdaq hitting a record high for the second straight session, after a surprisingly upbeat jobs report last week raised bets of a swift recovery from a coronavirus-driven downturn. up 1.95% (Reporting 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: ** Coty Inc , up 22.5% ** Alaska Air Group , up 15.6% ** Occidental Petroleum , up 13.7% The top three S&P 500 .PL.INX percentage losers: ** Amcor Plc , down 5.3% ** Corteva Inc , down 3.9% ** Jack Henry & Associates , down 3.3% The top three NYSE .PG.N percentage gainers: ** Chesapeake Energy , up 151.9% ** Valaris Plc , up 135.5% ** Whiting Petroleum Corp , up 89.1% The top three NYSE .PL.N percentage losers: ** Direxion Daily S&P Oil and Gas , down 21% ** Emergent Biosolutions , down 20.3% ** Direxion Daily S&P 500 High Beta Bear , down 12.4% The top three Nasdaq .PG.O percentage gainers: ** Rignet Inc , up 96.6% ** Supercom Ltd , up 90% ** Digital Ally , up 72.2% The top three Nasdaq .PL.O percentage losers: ** Ekso Bionics Holding , down 22% ** Opiant Pharmaceuticles , down 20.1% ** Ascena Retail Group , down 14.2% ** Gilead Sciences Inc GILD.O: up 0.4% BUZZ-Rises on report AstraZeneca approached co for potential merger ** Cisco Systems Inc CSCO.O: down 0.6% BUZZ-Evercore raises PT on long-term opportunities ** Yatra Online Inc YTRA.O: down 18.0% BUZZ-India's Yatra sees worst day in a month on Ebix merger termination ** Chevron corp CVX: up 1.3% BUZZ-JPM hikes PT on attractive cash margins, global asset base ** Tesla Inc TSLA.O: up 4.7% BUZZ-Gains as China sales of Model 3 more than triple in May ** Evofem Biosciences Inc EVFM.O: up 5.6% BUZZ-Piper Sandler see promise in contraceptive drug ** Seagate Technology Plc STX.O: up 1.8% BUZZ-Rosenblatt starts with 'buy' on storage demand growth ** Freeport-McMoRan Inc FCX.N: up 2.9% BUZZ-Copper to gain as trends signal demand surge - Jefferies ** American Airlines Group Inc AAL.O: up 7.0% ** Carnival corp CCL.N: up 11.6% ** Wynn Resorts Ltd WYNN.O: up 5.7% BUZZ-U.S. airlines, cruise stocks jump on faster economic recovery hopes ** Dunkin' Brands Group Inc DNKN.O: up 2.5% BUZZ-KeyBanc sees improving sales as U.S. states reopen; upgrades ** Sundial Growers Inc SNDL.O: up 29.3% BUZZ-Gains after debt swap with creditors ** NXP Semiconductors NXPI.O: up 1.2% BUZZ-Evercore raises to 'outperform' on automotive demand recovery ** Opiant Pharmaceuticals OPNT.O: down 20.1% ** Emergent BioSolutions EBS.N: down 20.3% BUZZ-Opiant Pharma, Emergent BioSolutions: Down after Teva wins patent dispute ** Amazon.com Inc AMZN.O: up 1.1% BUZZ-RBC hikes Amazon's PT to a Street high of $3,300, says co primed to be structural winner ** Netflix Inc NFLX.O: down 1.2% ** Slack Technologies Inc WORK.N: down 3.1% BUZZ-U.S. stay-at-home stocks fall as businesses reopen ** Thor Industries Inc THO.N: up 13.3% BUZZ-Rises on surprise Q3 profit ** Digital Ally DGLY.O: up 72.2% BUZZ-Continues run after co raises equity, launches body camera service ** International Flavor & Fragrances IFF.N: down 2.2% BUZZ-Slides after weak start to Q2 ** Aimmune Therapeutics AIMT.O: up 3.9% BUZZ-Rises on positive data from peanut allergy drug trial ** Chembio Diagnostics Inc CEMI.O: up 8.3% BUZZ-Rises on FDA clearance for Zika detection test ** Zillow Group ZG.O: up 5.1% BUZZ-Needham upgrades on shift towards online realtors, shares rise ** Michaels Companies Inc MIK.O: up 42.1% BUZZ-Nears five-month high as JPM upgrades on likely sales growth ** Ekso Bionics Holdings EKSO.O: down 22.0% BUZZ-Tumbles on direct stock offering ** Sarepta Therapeutics SRPT.O: up 7.6% BUZZ-Up on positive results for experimental gene therapy ** ON Semiconductor ON.O: up 2.5% BUZZ-Adopts poison pill, shares rise ** Sino-Global Shipping SINO.O: up 31.2% BUZZ-Surges on new service agreement ** Applied DNA Sciences Inc APDN.O: up 10.0% BUZZ-Rises on advancing COVID-19 vaccine development ** Clearwater Paper corp CLW.N: up 16.4% BUZZ-Gains on raised Q2 outlook on strong tissue demand ** Jazz Pharmaceuticals JAZZ.O: down 3.5% ** Glaukos Corp GKOS.N: down 7.3% BUZZ-Jazz Pharma, Glaukos fall as cos look to join convertible bandwagon ** Crocs Inc CROX.O: up 7.0% BUZZ-Gains as brokerages raise PT on management's recovery hopes ** Enochian BioSciences ENOB.O: up 54.6% BUZZ-surges on advancing potential HIV treatment ** Avalon GloboCare AVCO.O: up 7.0% BUZZ-Rises on deal to co-develop COVID-19 diagnostic tests ** Ideanomics IDEX.O: up 32.5% BUZZ-Soars on beginning delivery of electric taxis ** Chesapeake Energy CHK.N: up 151.9% BUZZ-shares more than triple in heavy volume trading ** Boeing Co BA.N: up 12.0% BUZZ-Gains; shares surge 163% since hitting year-low in March The 11 major S&P 500 sectors: Communication Services up 0.12% Consumer Discretionary up 0.81% Consumer Staples
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The top three S&P 500 .PG.INX percentage gainers: ** Coty Inc , up 22.5% ** Alaska Air Group , up 15.6% ** Occidental Petroleum , up 13.7% The top three S&P 500 .PL.INX percentage losers: ** Amcor Plc , down 5.3% ** Corteva Inc , down 3.9% ** Jack Henry & Associates , down 3.3% The top three NYSE .PG.N percentage gainers: ** Chesapeake Energy , up 151.9% ** Valaris Plc , up 135.5% ** Whiting Petroleum Corp , up 89.1% The top three NYSE .PL.N percentage losers: ** Direxion Daily S&P Oil and Gas , down 21% ** Emergent Biosolutions , down 20.3% ** Direxion Daily S&P 500 High Beta Bear , down 12.4% The top three Nasdaq .PG.O percentage gainers: ** Rignet Inc , up 96.6% ** Supercom Ltd , up 90% ** Digital Ally , up 72.2% The top three Nasdaq .PL.O percentage losers: ** Ekso Bionics Holding , down 22% ** Opiant Pharmaceuticles , down 20.1% ** Ascena Retail Group , down 14.2% ** Gilead Sciences Inc GILD.O: up 0.4% BUZZ-Rises on report AstraZeneca approached co for potential merger ** Cisco Systems Inc CSCO.O: down 0.6% BUZZ-Evercore raises PT on long-term opportunities ** Yatra Online Inc YTRA.O: down 18.0% BUZZ-India's Yatra sees worst day in a month on Ebix merger termination ** Chevron corp CVX: up 1.3% BUZZ-JPM hikes PT on attractive cash margins, global asset base ** Tesla Inc TSLA.O: up 4.7% BUZZ-Gains as China sales of Model 3 more than triple in May ** Evofem Biosciences Inc EVFM.O: up 5.6% BUZZ-Piper Sandler see promise in contraceptive drug ** Seagate Technology Plc STX.O: up 1.8% BUZZ-Rosenblatt starts with 'buy' on storage demand growth ** Freeport-McMoRan Inc FCX.N: up 2.9% BUZZ-Copper to gain as trends signal demand surge - Jefferies ** American Airlines Group Inc AAL.O: up 7.0% ** Carnival corp CCL.N: up 11.6% ** Wynn Resorts Ltd WYNN.O: up 5.7% BUZZ-U.S. airlines, cruise stocks jump on faster economic recovery hopes ** Dunkin' Brands Group Inc DNKN.O: up 2.5% BUZZ-KeyBanc sees improving sales as U.S. states reopen; upgrades ** Sundial Growers Inc SNDL.O: up 29.3% BUZZ-Gains after debt swap with creditors ** NXP Semiconductors NXPI.O: up 1.2% BUZZ-Evercore raises to 'outperform' on automotive demand recovery ** Opiant Pharmaceuticals OPNT.O: down 20.1% ** Emergent BioSolutions EBS.N: down 20.3% BUZZ-Opiant Pharma, Emergent BioSolutions: Down after Teva wins patent dispute ** Amazon.com Inc AMZN.O: up 1.1% BUZZ-RBC hikes Amazon's PT to a Street high of $3,300, says co primed to be structural winner ** Netflix Inc NFLX.O: down 1.2% ** Slack Technologies Inc WORK.N: down 3.1% BUZZ-U.S. stay-at-home stocks fall as businesses reopen ** Thor Industries Inc THO.N: up 13.3% BUZZ-Rises on surprise Q3 profit ** Digital Ally DGLY.O: up 72.2% BUZZ-Continues run after co raises equity, launches body camera service ** International Flavor & Fragrances IFF.N: down 2.2% BUZZ-Slides after weak start to Q2 ** Aimmune Therapeutics AIMT.O: up 3.9% BUZZ-Rises on positive data from peanut allergy drug trial ** Chembio Diagnostics Inc CEMI.O: up 8.3% BUZZ-Rises on FDA clearance for Zika detection test ** Zillow Group ZG.O: up 5.1% BUZZ-Needham upgrades on shift towards online realtors, shares rise ** Michaels Companies Inc MIK.O: up 42.1% BUZZ-Nears five-month high as JPM upgrades on likely sales growth ** Ekso Bionics Holdings EKSO.O: down 22.0% BUZZ-Tumbles on direct stock offering ** Sarepta Therapeutics SRPT.O: up 7.6% BUZZ-Up on positive results for experimental gene therapy ** ON Semiconductor ON.O: up 2.5% BUZZ-Adopts poison pill, shares rise ** Sino-Global Shipping SINO.O: up 31.2% BUZZ-Surges on new service agreement ** Applied DNA Sciences Inc APDN.O: up 10.0% BUZZ-Rises on advancing COVID-19 vaccine development ** Clearwater Paper corp CLW.N: up 16.4% BUZZ-Gains on raised Q2 outlook on strong tissue demand ** Jazz Pharmaceuticals JAZZ.O: down 3.5% ** Glaukos Corp GKOS.N: down 7.3% BUZZ-Jazz Pharma, Glaukos fall as cos look to join convertible bandwagon ** Crocs Inc CROX.O: up 7.0% BUZZ-Gains as brokerages raise PT on management's recovery hopes ** Enochian BioSciences ENOB.O: up 54.6% BUZZ-surges on advancing potential HIV treatment ** Avalon GloboCare AVCO.O: up 7.0% BUZZ-Rises on deal to co-develop COVID-19 diagnostic tests ** Ideanomics IDEX.O: up 32.5% BUZZ-Soars on beginning delivery of electric taxis ** Chesapeake Energy CHK.N: up 151.9% BUZZ-shares more than triple in heavy volume trading ** Boeing Co BA.N: up 12.0% BUZZ-Gains; shares surge 163% since hitting year-low in March 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 rose on Monday, with the Nasdaq hitting a record high for the second straight session, after a surprisingly upbeat jobs report last week raised bets of a swift recovery from a coronavirus-driven downturn. .N At 13:00 ET, the Dow Jones Industrial Average .DJI was up 0.92% at 27,360.59.
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4d36ec6a-325c-4c59-8d36-65b97ed3af30
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5746.0
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2020-06-05 00:00:00 UTC
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Consumer Sector Update for 06/05/2020: GRUB,UBER,CCL,AAL,GPS
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AAL
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https://www.nasdaq.com/articles/consumer-sector-update-for-06-05-2020%3A-grububercclaalgps-2020-06-05
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nan
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nan
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Consumer stocks were ending mostly higher, with the SPDR Consumer Staples Select Sector ETF climbing 1.5% this afternoon while the SPDR Consumer Discretionary Select Sector ETF was adding 2.3% in value.
In company news,
GrubHub (GRUB) climbed over 5% after CNBC reported that German rival Delivery Hero and its newly acquired Just Eat Takeaway.com are interested in a deal. Citing people familiar with the matter, the business news network said GrubHub's merger talks with Uber (UBER) are continuing and could still result in an agreement, although the sources said a deal with a European suitor may have an easier time with regulators.
Carnival (CCL) jumped out to a 16% gain. The company's Aida branded cruise liners suspended sailings with connecting ports in the US and Canada through the end of the year because conditions for international travel to the two countries were "not currently in place." The company earlier this week also extended the suspension of operations for its PP&O and Princess lines because of COVID-19 entry restrictions.
American Airlines Group (AAL) rallied for a second day, Friday rising over 10%. Reuters reported that 14 executives will soon leave the company as part of a broader effort to trim the size of its senior ranks by about 30%. Another five executive positions will be left unfilled, according to a Reuters report, which obtained memos to American employees explaining the restructuring.
The Gap (GPS) turned more than 1% higher, reversing a prior decline, after the apparel chain reported a larger-than-expected Q1 net loss while sales tumbled 43% from year-ago levels, also missing Street views, as the COVID-19 pandemic forced store closures beginning in March. Net loss for the three months ended May 2 was $2.51 per share on $2.11 billion in net sales compared with the Capital IQ consensus looking for a $0.34 per share net loss on $2.35 billion in Q1 sales.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group (AAL) rallied for a second day, Friday rising over 10%. In company news, GrubHub (GRUB) climbed over 5% after CNBC reported that German rival Delivery Hero and its newly acquired Just Eat Takeaway.com are interested in a deal. The company's Aida branded cruise liners suspended sailings with connecting ports in the US and Canada through the end of the year because conditions for international travel to the two countries were "not currently in place."
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American Airlines Group (AAL) rallied for a second day, Friday rising over 10%. Consumer stocks were ending mostly higher, with the SPDR Consumer Staples Select Sector ETF climbing 1.5% this afternoon while the SPDR Consumer Discretionary Select Sector ETF was adding 2.3% in value. In company news, GrubHub (GRUB) climbed over 5% after CNBC reported that German rival Delivery Hero and its newly acquired Just Eat Takeaway.com are interested in a deal.
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American Airlines Group (AAL) rallied for a second day, Friday rising over 10%. Consumer stocks were ending mostly higher, with the SPDR Consumer Staples Select Sector ETF climbing 1.5% this afternoon while the SPDR Consumer Discretionary Select Sector ETF was adding 2.3% in value. The Gap (GPS) turned more than 1% higher, reversing a prior decline, after the apparel chain reported a larger-than-expected Q1 net loss while sales tumbled 43% from year-ago levels, also missing Street views, as the COVID-19 pandemic forced store closures beginning in March.
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American Airlines Group (AAL) rallied for a second day, Friday rising over 10%. Consumer stocks were ending mostly higher, with the SPDR Consumer Staples Select Sector ETF climbing 1.5% this afternoon while the SPDR Consumer Discretionary Select Sector ETF was adding 2.3% in value. In company news, GrubHub (GRUB) climbed over 5% after CNBC reported that German rival Delivery Hero and its newly acquired Just Eat Takeaway.com are interested in a deal.
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1d69b8d5-b5ce-40f0-9a7e-67078cd1cac4
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5747.0
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2020-06-05 00:00:00 UTC
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Wall Street jumps on surprise improvement in labor market
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AAL
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https://www.nasdaq.com/articles/wall-street-jumps-on-surprise-improvement-in-labor-market-2020-06-05
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nan
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nan
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By Devik Jain and Shreyashi Sanyal
June 5 (Reuters) - U.S. stock indexes jumped on Friday, with the Nasdaq Composite less than 1% away from a record high, on hopes of a faster economic rebound from a coronavirus-led slump after data showed surprise job additions in May.
Data from the Labor Department showed nonfarm payrolls rose by 2.509 million jobs last month after a record plunge of 20.687 million in April, and the unemployment rate unexpectedly fell to 13.3% in May from 14.7% in April.
"Today was a shocking jobs number and for the first time this year it was a positive shock," said Chris Zaccarelli, chief investment officer with Independent Advisor Alliance in Charlotte, North Carolina.
"At 13.3%, we are still at a higher rate than any that we hit during the financial crisis in 2007-2009, but as long as that continues to move lower, it will show that the reopening of the economy is proceeding smoothly."
The S&P 500 banks sub-index .SPXBK, considered interest-rate sensitive, jumped 5.8% as U.S. Treasury yields rose after the data. US/
Boeing Co BA.N gained 14.4%, the biggest boost to the Dow Jones index .DJI, on hopes of a pickup in air travel a day after American Airlines Group Inc AAL.O and United Airlines UAL.O said they would boost their U.S. flight schedule next month.
The NYSE ARCA Airline index .XAL also jumped 12.2%.
All major S&P 500 sector indexes rose, with the energy sub-index's .SPNY leading gains with a jump of 7.2%, while the defensive consumer staples index .SPLRCS added the smallest gains.
Wall Street has rebounded sharply from a coronavirus-driven crash in March as investors bet on a revival in business activity following the easing of a nationwide lockdown.
The S&P 500 .SPX and Dow Jones .DJI indexes are now down about 6% and 8%, respectively, from their all-time highs.
At 11:09 a.m. ET, the Dow Jones Industrial Average .DJI was up 868.73 points, or 3.31%, at 27,150.55, the S&P 500 .SPX was up 81.85 points, or 2.63%, at 3,194.20 and the Nasdaq Composite .IXIC was up 183.41 points, or 1.91%, at 9,799.22.
Fears of more disruptions from social unrest have also eased in the past two days, with the largely peaceful protests against the killing of a black man in police custody waning into Friday morning and emergency curfews in many cities being lifted.
Vaccine maker Novavax Inc NVAX.O jumped 3.7% after saying it would receive up to $60 million from the U.S. Department of Defense to fund manufacturing of its COVID-19 vaccine candidate.
Tiffany & Co TIF.N jumped 8% after Reuters reported the French luxury goods giant LVMH LVMH.PA is not seeking to renegotiate its $16.2-billion takeover deal after deliberating whether to do so.
Advancing issues outnumbered decliners by a 7.13-to-1 ratio on the NYSE and by a 4.24-to-1 ratio on the Nasdaq.
The S&P index recorded 22 new 52-week highs and no new low, while the Nasdaq recorded 70 new highs and one new low.
(Reporting by Devik Jain and Shreyashi Sanyal in Bengaluru, additional reporting by Pawel Goraj in Gdansk; Editing by Shounak Dasgupta and Uttaresh.V)
((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2062;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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US/ Boeing Co BA.N gained 14.4%, the biggest boost to the Dow Jones index .DJI, on hopes of a pickup in air travel a day after American Airlines Group Inc AAL.O and United Airlines UAL.O said they would boost their U.S. flight schedule next month. By Devik Jain and Shreyashi Sanyal June 5 (Reuters) - U.S. stock indexes jumped on Friday, with the Nasdaq Composite less than 1% away from a record high, on hopes of a faster economic rebound from a coronavirus-led slump after data showed surprise job additions in May. Wall Street has rebounded sharply from a coronavirus-driven crash in March as investors bet on a revival in business activity following the easing of a nationwide lockdown.
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US/ Boeing Co BA.N gained 14.4%, the biggest boost to the Dow Jones index .DJI, on hopes of a pickup in air travel a day after American Airlines Group Inc AAL.O and United Airlines UAL.O said they would boost their U.S. flight schedule next month. By Devik Jain and Shreyashi Sanyal June 5 (Reuters) - U.S. stock indexes jumped on Friday, with the Nasdaq Composite less than 1% away from a record high, on hopes of a faster economic rebound from a coronavirus-led slump after data showed surprise job additions in May. Data from the Labor Department showed nonfarm payrolls rose by 2.509 million jobs last month after a record plunge of 20.687 million in April, and the unemployment rate unexpectedly fell to 13.3% in May from 14.7% in April.
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US/ Boeing Co BA.N gained 14.4%, the biggest boost to the Dow Jones index .DJI, on hopes of a pickup in air travel a day after American Airlines Group Inc AAL.O and United Airlines UAL.O said they would boost their U.S. flight schedule next month. By Devik Jain and Shreyashi Sanyal June 5 (Reuters) - U.S. stock indexes jumped on Friday, with the Nasdaq Composite less than 1% away from a record high, on hopes of a faster economic rebound from a coronavirus-led slump after data showed surprise job additions in May. All major S&P 500 sector indexes rose, with the energy sub-index's .SPNY leading gains with a jump of 7.2%, while the defensive consumer staples index .SPLRCS added the smallest gains.
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US/ Boeing Co BA.N gained 14.4%, the biggest boost to the Dow Jones index .DJI, on hopes of a pickup in air travel a day after American Airlines Group Inc AAL.O and United Airlines UAL.O said they would boost their U.S. flight schedule next month. By Devik Jain and Shreyashi Sanyal June 5 (Reuters) - U.S. stock indexes jumped on Friday, with the Nasdaq Composite less than 1% away from a record high, on hopes of a faster economic rebound from a coronavirus-led slump after data showed surprise job additions in May. The S&P 500 .SPX and Dow Jones .DJI indexes are now down about 6% and 8%, respectively, from their all-time highs.
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58ac72fc-2865-4b1f-b096-1a29fd0336d2
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5748.0
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2020-06-05 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Tenet Healthcare, Sorreto, Kontoor Brands
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AAL
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-tenet-healthcare-sorreto-kontoor-brands-2020-06-05
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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 indexes jumped on Friday, with the Nasdaq Composite less than 1% away from a record high, on hopes of a faster economic rebound from a coronavirus-led slump after data showed surprise job additions in May. .N
At 11:30 ET, the Dow Jones Industrial Average .DJI was up 3.64% at 27,237.84. The S&P 500 .SPX was up 2.92% at 3,203.13 and the Nasdaq Composite .IXIC was up 2.13% at 9,820.619. The top three S&P 500 .PG.INX percentage gainers: ** Occidental Petroleum , up 30.8% ** Apache Corp , up 24.3% ** Carnival Corp , up 22.8% The top three S&P 500 .PL.INX percentage losers: ** Newmont Corp , down 4.3% ** Clorox Co , down 3.7% ** Akamai Technologies Inc , down 3.5% The top three NYSE .PG.N percentage gainers: ** Gannett Co Inc , up 107.9% ** Hertz Global Holding , up 100.3% ** Transocean Ltd , up 46.7% The top three NYSE .PL.N percentage losers: ** Microsectors US Big Oil Index , down 36.1% ** Direxion Daily S&P500 High Beta Bear , down 25.4% ** Direxion Daily S&P Oil&Gas Exp , down 20.6% The top three Nasdaq .PG.O percentage gainers: ** Ascena Retail , up 55.7 % ** Legend Biotch corp , up 54.9 % ** Applied Molecular Transport Inc , up 51.2 % The top three Nasdaq .PL.O percentage losers: ** Cinedigm Corp , down 24.9 % ** Liquidia Technologies Inc , down 20.3 % ** Virtra Inc , down 17.6 % ** IDEXX Laboratories Inc IDXX.O: up 2.0%
BUZZ-Rises after COVID-19 test gets EU nod ** Tenet Healthcare corp THC.N: up 15.5% ** HCA Healthcare Inc HCA.N: up 8.4%
BUZZ-Jefferies analysis shows pick-up in U.S. hospital visits ** Sorrento Therapeutics Inc SRNE.O: up 7.0%
BUZZ-Sorrento rises after protein blocks coronavirus infection in preclinical trial ** Tiffany & Co TIF.N: up 7.0%
BUZZ- Jumps on report LVMH not seeking to renegotiate takeover deal ** Tribune Publishing co TPCO.O: up 3.6%
BUZZ- Rises on sales beat, online user growth ** Royal Caribbean Cruises RCL.N: up 19.1%
BUZZ-Rides wave higher after $2 bln liquidity boost ** Insulet corp PODD.O: up 4.1%
BUZZ-Earlier-than-expected study resumption a strong catalyst -Cowen ** PG&E PCG.N: up 2.3%
BUZZ-: RBC casts on doubts over credit rating, cuts PT ** Tetraphase Pharmaceuticals Inc TTPH.O: up 16.0%
BUZZ-Surges after FDA expands label for its antibiotic ** Broadcom Inc AVGO.O: up 5.4%
BUZZ-Street View: Broadcom remains a semiconductor powerhouse ** Exxon Mobil corp XOM.N: up 8.5% ** Chevron Corp CVX.N: up 5.4%
BUZZ-Oil & gas stocks: Up as traders await OPEC+ meeting on extending supply cuts ** Kontoor Brands KTB.N: up 14.8%
BUZZ-Set to extend rally as Susquehanna upgrades to "positive" ** Apple Inc AAPL.O: up 2.3%
BUZZ-Credit Suisse hikes PT on App Store growth ** ON Semiconductor corp ON.O: up 7.1%
BUZZ-Rosenblatt expects margins to rise, initiates with 'buy' ** Menlo Therapeutics MNLO.O: down 13.3%
BUZZ- Drops on stock offering plans ** Gap Inc GPS.N: down 1.4%
BUZZ-Street View: The gap between Gap's expensive and cheaper brands continues to widen ** Livongo Health LVGO.O: up 0.4%
BUZZ-Cowen initiates with 'outperform' on first-mover advantage ** Slack Technologies WORK.N: down 14.9%
BUZZ-Falls on slowing quarterly sales growth ** American Airlines Group AAL.O: up 14.4% ** United Airlines Holdings UAL.O: up 15.3%
BUZZ-U.S. airlines cruise higher on plans to ramp up flights in June, July ** Qualcomm Inc QCOM.O: up 3.4%
BUZZ-Rosenblatt initiates with 'buy' rating on 5G ramp-up ** Novavax Inc NVAX.O: up 2.6%
BUZZ-Rises on U.S. defense funding for COVID-19 vaccine candidate
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 1.91%
Consumer Discretionary
.SPLRCD
up 2.19%
Consumer Staples
.SPLRCS
up 1.54%
Energy
.SPNY
up 8.14%
Financial
.SPSY
up 4.40%
Health
.SPXHC
up 2.11%
Industrial
.SPLRCI
up 5.02%
Information Technology
.SPLRCT
up 2.44%
Materials
.SPLRCM
up 2.73%
Real Estate
.SPLRCR
up 4.12%
Utilities
.SPLRCU
up 3.05%
(Reporting 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: ** Occidental Petroleum , up 30.8% ** Apache Corp , up 24.3% ** Carnival Corp , up 22.8% The top three S&P 500 .PL.INX percentage losers: ** Newmont Corp , down 4.3% ** Clorox Co , down 3.7% ** Akamai Technologies Inc , down 3.5% The top three NYSE .PG.N percentage gainers: ** Gannett Co Inc , up 107.9% ** Hertz Global Holding , up 100.3% ** Transocean Ltd , up 46.7% The top three NYSE .PL.N percentage losers: ** Microsectors US Big Oil Index , down 36.1% ** Direxion Daily S&P500 High Beta Bear , down 25.4% ** Direxion Daily S&P Oil&Gas Exp , down 20.6% The top three Nasdaq .PG.O percentage gainers: ** Ascena Retail , up 55.7 % ** Legend Biotch corp , up 54.9 % ** Applied Molecular Transport Inc , up 51.2 % The top three Nasdaq .PL.O percentage losers: ** Cinedigm Corp , down 24.9 % ** Liquidia Technologies Inc , down 20.3 % ** Virtra Inc , down 17.6 % ** IDEXX Laboratories Inc IDXX.O: up 2.0% BUZZ-Rises after COVID-19 test gets EU nod ** Tenet Healthcare corp THC.N: up 15.5% ** HCA Healthcare Inc HCA.N: up 8.4% BUZZ-Jefferies analysis shows pick-up in U.S. hospital visits ** Sorrento Therapeutics Inc SRNE.O: up 7.0% BUZZ-Sorrento rises after protein blocks coronavirus infection in preclinical trial ** Tiffany & Co TIF.N: up 7.0% BUZZ- Jumps on report LVMH not seeking to renegotiate takeover deal ** Tribune Publishing co TPCO.O: up 3.6% BUZZ- Rises on sales beat, online user growth ** Royal Caribbean Cruises RCL.N: up 19.1% BUZZ-Rides wave higher after $2 bln liquidity boost ** Insulet corp PODD.O: up 4.1% BUZZ-Earlier-than-expected study resumption a strong catalyst -Cowen ** PG&E PCG.N: up 2.3% BUZZ-: RBC casts on doubts over credit rating, cuts PT ** Tetraphase Pharmaceuticals Inc TTPH.O: up 16.0% BUZZ-Surges after FDA expands label for its antibiotic ** Broadcom Inc AVGO.O: up 5.4% BUZZ-Street View: Broadcom remains a semiconductor powerhouse ** Exxon Mobil corp XOM.N: up 8.5% ** Chevron Corp CVX.N: up 5.4% BUZZ-Oil & gas stocks: Up as traders await OPEC+ meeting on extending supply cuts ** Kontoor Brands KTB.N: up 14.8% BUZZ-Set to extend rally as Susquehanna upgrades to "positive" ** Apple Inc AAPL.O: up 2.3% BUZZ-Credit Suisse hikes PT on App Store growth ** ON Semiconductor corp ON.O: up 7.1% BUZZ-Rosenblatt expects margins to rise, initiates with 'buy' ** Menlo Therapeutics MNLO.O: down 13.3% BUZZ- Drops on stock offering plans ** Gap Inc GPS.N: down 1.4% BUZZ-Street View: The gap between Gap's expensive and cheaper brands continues to widen ** Livongo Health LVGO.O: up 0.4% BUZZ-Cowen initiates with 'outperform' on first-mover advantage ** Slack Technologies WORK.N: down 14.9% BUZZ-Falls on slowing quarterly sales growth ** American Airlines Group AAL.O: up 14.4% ** United Airlines Holdings UAL.O: up 15.3% BUZZ-U.S. airlines cruise higher on plans to ramp up flights in June, July ** Qualcomm Inc QCOM.O: up 3.4% BUZZ-Rosenblatt initiates with 'buy' rating on 5G ramp-up ** Novavax Inc NVAX.O: up 2.6% BUZZ-Rises on U.S. defense funding for COVID-19 vaccine candidate 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 jumped on Friday, with the Nasdaq Composite less than 1% away from a record high, on hopes of a faster economic rebound from a coronavirus-led slump after data showed surprise job additions in May. up 3.05% (Reporting 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: ** Occidental Petroleum , up 30.8% ** Apache Corp , up 24.3% ** Carnival Corp , up 22.8% The top three S&P 500 .PL.INX percentage losers: ** Newmont Corp , down 4.3% ** Clorox Co , down 3.7% ** Akamai Technologies Inc , down 3.5% The top three NYSE .PG.N percentage gainers: ** Gannett Co Inc , up 107.9% ** Hertz Global Holding , up 100.3% ** Transocean Ltd , up 46.7% The top three NYSE .PL.N percentage losers: ** Microsectors US Big Oil Index , down 36.1% ** Direxion Daily S&P500 High Beta Bear , down 25.4% ** Direxion Daily S&P Oil&Gas Exp , down 20.6% The top three Nasdaq .PG.O percentage gainers: ** Ascena Retail , up 55.7 % ** Legend Biotch corp , up 54.9 % ** Applied Molecular Transport Inc , up 51.2 % The top three Nasdaq .PL.O percentage losers: ** Cinedigm Corp , down 24.9 % ** Liquidia Technologies Inc , down 20.3 % ** Virtra Inc , down 17.6 % ** IDEXX Laboratories Inc IDXX.O: up 2.0% BUZZ-Rises after COVID-19 test gets EU nod ** Tenet Healthcare corp THC.N: up 15.5% ** HCA Healthcare Inc HCA.N: up 8.4% BUZZ-Jefferies analysis shows pick-up in U.S. hospital visits ** Sorrento Therapeutics Inc SRNE.O: up 7.0% BUZZ-Sorrento rises after protein blocks coronavirus infection in preclinical trial ** Tiffany & Co TIF.N: up 7.0% BUZZ- Jumps on report LVMH not seeking to renegotiate takeover deal ** Tribune Publishing co TPCO.O: up 3.6% BUZZ- Rises on sales beat, online user growth ** Royal Caribbean Cruises RCL.N: up 19.1% BUZZ-Rides wave higher after $2 bln liquidity boost ** Insulet corp PODD.O: up 4.1% BUZZ-Earlier-than-expected study resumption a strong catalyst -Cowen ** PG&E PCG.N: up 2.3% BUZZ-: RBC casts on doubts over credit rating, cuts PT ** Tetraphase Pharmaceuticals Inc TTPH.O: up 16.0% BUZZ-Surges after FDA expands label for its antibiotic ** Broadcom Inc AVGO.O: up 5.4% BUZZ-Street View: Broadcom remains a semiconductor powerhouse ** Exxon Mobil corp XOM.N: up 8.5% ** Chevron Corp CVX.N: up 5.4% BUZZ-Oil & gas stocks: Up as traders await OPEC+ meeting on extending supply cuts ** Kontoor Brands KTB.N: up 14.8% BUZZ-Set to extend rally as Susquehanna upgrades to "positive" ** Apple Inc AAPL.O: up 2.3% BUZZ-Credit Suisse hikes PT on App Store growth ** ON Semiconductor corp ON.O: up 7.1% BUZZ-Rosenblatt expects margins to rise, initiates with 'buy' ** Menlo Therapeutics MNLO.O: down 13.3% BUZZ- Drops on stock offering plans ** Gap Inc GPS.N: down 1.4% BUZZ-Street View: The gap between Gap's expensive and cheaper brands continues to widen ** Livongo Health LVGO.O: up 0.4% BUZZ-Cowen initiates with 'outperform' on first-mover advantage ** Slack Technologies WORK.N: down 14.9% BUZZ-Falls on slowing quarterly sales growth ** American Airlines Group AAL.O: up 14.4% ** United Airlines Holdings UAL.O: up 15.3% BUZZ-U.S. airlines cruise higher on plans to ramp up flights in June, July ** Qualcomm Inc QCOM.O: up 3.4% BUZZ-Rosenblatt initiates with 'buy' rating on 5G ramp-up ** Novavax Inc NVAX.O: up 2.6% BUZZ-Rises on U.S. defense funding for COVID-19 vaccine candidate 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 jumped on Friday, with the Nasdaq Composite less than 1% away from a record high, on hopes of a faster economic rebound from a coronavirus-led slump after data showed surprise job additions in May. The S&P 500 .SPX was up 2.92% at 3,203.13 and the Nasdaq Composite .IXIC was up 2.13% at 9,820.619.
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The top three S&P 500 .PG.INX percentage gainers: ** Occidental Petroleum , up 30.8% ** Apache Corp , up 24.3% ** Carnival Corp , up 22.8% The top three S&P 500 .PL.INX percentage losers: ** Newmont Corp , down 4.3% ** Clorox Co , down 3.7% ** Akamai Technologies Inc , down 3.5% The top three NYSE .PG.N percentage gainers: ** Gannett Co Inc , up 107.9% ** Hertz Global Holding , up 100.3% ** Transocean Ltd , up 46.7% The top three NYSE .PL.N percentage losers: ** Microsectors US Big Oil Index , down 36.1% ** Direxion Daily S&P500 High Beta Bear , down 25.4% ** Direxion Daily S&P Oil&Gas Exp , down 20.6% The top three Nasdaq .PG.O percentage gainers: ** Ascena Retail , up 55.7 % ** Legend Biotch corp , up 54.9 % ** Applied Molecular Transport Inc , up 51.2 % The top three Nasdaq .PL.O percentage losers: ** Cinedigm Corp , down 24.9 % ** Liquidia Technologies Inc , down 20.3 % ** Virtra Inc , down 17.6 % ** IDEXX Laboratories Inc IDXX.O: up 2.0% BUZZ-Rises after COVID-19 test gets EU nod ** Tenet Healthcare corp THC.N: up 15.5% ** HCA Healthcare Inc HCA.N: up 8.4% BUZZ-Jefferies analysis shows pick-up in U.S. hospital visits ** Sorrento Therapeutics Inc SRNE.O: up 7.0% BUZZ-Sorrento rises after protein blocks coronavirus infection in preclinical trial ** Tiffany & Co TIF.N: up 7.0% BUZZ- Jumps on report LVMH not seeking to renegotiate takeover deal ** Tribune Publishing co TPCO.O: up 3.6% BUZZ- Rises on sales beat, online user growth ** Royal Caribbean Cruises RCL.N: up 19.1% BUZZ-Rides wave higher after $2 bln liquidity boost ** Insulet corp PODD.O: up 4.1% BUZZ-Earlier-than-expected study resumption a strong catalyst -Cowen ** PG&E PCG.N: up 2.3% BUZZ-: RBC casts on doubts over credit rating, cuts PT ** Tetraphase Pharmaceuticals Inc TTPH.O: up 16.0% BUZZ-Surges after FDA expands label for its antibiotic ** Broadcom Inc AVGO.O: up 5.4% BUZZ-Street View: Broadcom remains a semiconductor powerhouse ** Exxon Mobil corp XOM.N: up 8.5% ** Chevron Corp CVX.N: up 5.4% BUZZ-Oil & gas stocks: Up as traders await OPEC+ meeting on extending supply cuts ** Kontoor Brands KTB.N: up 14.8% BUZZ-Set to extend rally as Susquehanna upgrades to "positive" ** Apple Inc AAPL.O: up 2.3% BUZZ-Credit Suisse hikes PT on App Store growth ** ON Semiconductor corp ON.O: up 7.1% BUZZ-Rosenblatt expects margins to rise, initiates with 'buy' ** Menlo Therapeutics MNLO.O: down 13.3% BUZZ- Drops on stock offering plans ** Gap Inc GPS.N: down 1.4% BUZZ-Street View: The gap between Gap's expensive and cheaper brands continues to widen ** Livongo Health LVGO.O: up 0.4% BUZZ-Cowen initiates with 'outperform' on first-mover advantage ** Slack Technologies WORK.N: down 14.9% BUZZ-Falls on slowing quarterly sales growth ** American Airlines Group AAL.O: up 14.4% ** United Airlines Holdings UAL.O: up 15.3% BUZZ-U.S. airlines cruise higher on plans to ramp up flights in June, July ** Qualcomm Inc QCOM.O: up 3.4% BUZZ-Rosenblatt initiates with 'buy' rating on 5G ramp-up ** Novavax Inc NVAX.O: up 2.6% BUZZ-Rises on U.S. defense funding for COVID-19 vaccine candidate The 11 major S&P 500 sectors: Communication Services .N At 11:30 ET, the Dow Jones Industrial Average .DJI was up 3.64% at 27,237.84. up 1.91% Consumer Discretionary
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The top three S&P 500 .PG.INX percentage gainers: ** Occidental Petroleum , up 30.8% ** Apache Corp , up 24.3% ** Carnival Corp , up 22.8% The top three S&P 500 .PL.INX percentage losers: ** Newmont Corp , down 4.3% ** Clorox Co , down 3.7% ** Akamai Technologies Inc , down 3.5% The top three NYSE .PG.N percentage gainers: ** Gannett Co Inc , up 107.9% ** Hertz Global Holding , up 100.3% ** Transocean Ltd , up 46.7% The top three NYSE .PL.N percentage losers: ** Microsectors US Big Oil Index , down 36.1% ** Direxion Daily S&P500 High Beta Bear , down 25.4% ** Direxion Daily S&P Oil&Gas Exp , down 20.6% The top three Nasdaq .PG.O percentage gainers: ** Ascena Retail , up 55.7 % ** Legend Biotch corp , up 54.9 % ** Applied Molecular Transport Inc , up 51.2 % The top three Nasdaq .PL.O percentage losers: ** Cinedigm Corp , down 24.9 % ** Liquidia Technologies Inc , down 20.3 % ** Virtra Inc , down 17.6 % ** IDEXX Laboratories Inc IDXX.O: up 2.0% BUZZ-Rises after COVID-19 test gets EU nod ** Tenet Healthcare corp THC.N: up 15.5% ** HCA Healthcare Inc HCA.N: up 8.4% BUZZ-Jefferies analysis shows pick-up in U.S. hospital visits ** Sorrento Therapeutics Inc SRNE.O: up 7.0% BUZZ-Sorrento rises after protein blocks coronavirus infection in preclinical trial ** Tiffany & Co TIF.N: up 7.0% BUZZ- Jumps on report LVMH not seeking to renegotiate takeover deal ** Tribune Publishing co TPCO.O: up 3.6% BUZZ- Rises on sales beat, online user growth ** Royal Caribbean Cruises RCL.N: up 19.1% BUZZ-Rides wave higher after $2 bln liquidity boost ** Insulet corp PODD.O: up 4.1% BUZZ-Earlier-than-expected study resumption a strong catalyst -Cowen ** PG&E PCG.N: up 2.3% BUZZ-: RBC casts on doubts over credit rating, cuts PT ** Tetraphase Pharmaceuticals Inc TTPH.O: up 16.0% BUZZ-Surges after FDA expands label for its antibiotic ** Broadcom Inc AVGO.O: up 5.4% BUZZ-Street View: Broadcom remains a semiconductor powerhouse ** Exxon Mobil corp XOM.N: up 8.5% ** Chevron Corp CVX.N: up 5.4% BUZZ-Oil & gas stocks: Up as traders await OPEC+ meeting on extending supply cuts ** Kontoor Brands KTB.N: up 14.8% BUZZ-Set to extend rally as Susquehanna upgrades to "positive" ** Apple Inc AAPL.O: up 2.3% BUZZ-Credit Suisse hikes PT on App Store growth ** ON Semiconductor corp ON.O: up 7.1% BUZZ-Rosenblatt expects margins to rise, initiates with 'buy' ** Menlo Therapeutics MNLO.O: down 13.3% BUZZ- Drops on stock offering plans ** Gap Inc GPS.N: down 1.4% BUZZ-Street View: The gap between Gap's expensive and cheaper brands continues to widen ** Livongo Health LVGO.O: up 0.4% BUZZ-Cowen initiates with 'outperform' on first-mover advantage ** Slack Technologies WORK.N: down 14.9% BUZZ-Falls on slowing quarterly sales growth ** American Airlines Group AAL.O: up 14.4% ** United Airlines Holdings UAL.O: up 15.3% BUZZ-U.S. airlines cruise higher on plans to ramp up flights in June, July ** Qualcomm Inc QCOM.O: up 3.4% BUZZ-Rosenblatt initiates with 'buy' rating on 5G ramp-up ** Novavax Inc NVAX.O: up 2.6% BUZZ-Rises on U.S. defense funding for COVID-19 vaccine candidate 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 jumped on Friday, with the Nasdaq Composite less than 1% away from a record high, on hopes of a faster economic rebound from a coronavirus-led slump after data showed surprise job additions in May. .N At 11:30 ET, the Dow Jones Industrial Average .DJI was up 3.64% at 27,237.84.
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94276b2e-b32d-4ffe-9f25-222f0c9a3eb2
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5749.0
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2020-06-05 00:00:00 UTC
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Nasdaq closes in on record high after surprise jobs report
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AAL
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https://www.nasdaq.com/articles/nasdaq-closes-in-on-record-high-after-surprise-jobs-report-2020-06-05
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nan
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nan
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By Devik Jain and Shreyashi Sanyal
June 5 (Reuters) - A stunning U.S. jobs report on Friday put the Nasdaq within striking distance of its record high as investors flocked back to riskier assets on hopes of a swift economic rebound from the coronavirus-driven slump.
The blue-chip Dow Jones index .DJI added 1,000 points, briefly hitting a level not seen since early March, while the S&P 500 .SPX is less than 1% away from turning positive on the year.
Data from the Labor Department showed nonfarm payrolls rose by 2.509 million jobs last month after a record plunge of 20.687 million in April, and the unemployment rate unexpectedly fell to 13.3% in May from 14.7% in April.
"Today was a shocking jobs number and for the first time this year it was a positive shock," said Chris Zaccarelli, chief investment officer of Independent Advisor Alliance in Charlotte, North Carolina.
"At 13.3%, we are still at a higher rate than any that we hit during the financial crisis in 2007-2009, but as long as that continues to move lower, it will show that the reopening of the economy is proceeding smoothly."
Wall Street has rebounded sharply from a coronavirus-driven crash in March as investors bet on a revival in business activity following the easing of a nationwide lockdown, and the S&P 500 is now just about 6% below its February record high.
The S&P 500 banks sub-index .SPXBK, considered interest-rate sensitive, jumped 5.1% as U.S. Treasury yields rose after the data. US/
Boeing Co BA.N gained 16.2%, the biggest boost to the Dow Jones index .DJI, on hopes of a pickup in air travel a day after American Airlines Group Inc AAL.O and United Airlines UAL.O said they would boost their U.S. flight schedule next month.
The NYSE ARCA Airline index .XAL also jumped 10.8%. The Dow Jones Transport Average index .DJT, often seen as a barometer for economic confidence, rose 4.6%.
All major S&P 500 sector indexes rose, with investors buying into more cyclical stocks including energy .SPNY, financials .SPSY, and consumer discretionary .SPLRCD. The defensive consumer staples index .SPLRCS was among the smallest gainers.
At 12:55 p.m. ET, the Dow Jones Industrial Average .DJI was up 927.89 points, or 3.53%, at 27,209.71, the S&P 500 .SPX was up 86.12 points, or 2.77%, at 3,198.47 and the Nasdaq Composite .IXIC was up 202.45 points, or 2.11%, at 9,818.27.
Fears of more disruptions from social unrest have also eased, with the largely peaceful protests against the killing of a black man in police custody waning into Friday morning and emergency curfews in many cities being lifted.
Vaccine maker Novavax Inc NVAX.O rose 3.2% after saying it would get up to $60 million from the U.S. Department of Defense to fund manufacturing of its COVID-19 vaccine candidate.
Tiffany & Co TIF.N jumped 5.9% after Reuters reported the LVMH LVMH.PA is not seeking to renegotiate its $16.2-billion takeover deal after deliberating whether to do so.
Advancing issues outnumbered decliners for a 6.18-to-1 ratio on the NYSE and a 3.54-to-1 ratio on the Nasdaq.
The S&P index recorded 23 new 52-week highs and no new low, while the Nasdaq recorded 77 new highs and two new lows.
(Reporting by Devik Jain and Shreyashi Sanyal in Bengaluru; Editing by Uttaresh.V and Shounak Dasgupta)
((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2062;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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US/ Boeing Co BA.N gained 16.2%, the biggest boost to the Dow Jones index .DJI, on hopes of a pickup in air travel a day after American Airlines Group Inc AAL.O and United Airlines UAL.O said they would boost their U.S. flight schedule next month. By Devik Jain and Shreyashi Sanyal June 5 (Reuters) - A stunning U.S. jobs report on Friday put the Nasdaq within striking distance of its record high as investors flocked back to riskier assets on hopes of a swift economic rebound from the coronavirus-driven slump. Wall Street has rebounded sharply from a coronavirus-driven crash in March as investors bet on a revival in business activity following the easing of a nationwide lockdown, and the S&P 500 is now just about 6% below its February record high.
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US/ Boeing Co BA.N gained 16.2%, the biggest boost to the Dow Jones index .DJI, on hopes of a pickup in air travel a day after American Airlines Group Inc AAL.O and United Airlines UAL.O said they would boost their U.S. flight schedule next month. By Devik Jain and Shreyashi Sanyal June 5 (Reuters) - A stunning U.S. jobs report on Friday put the Nasdaq within striking distance of its record high as investors flocked back to riskier assets on hopes of a swift economic rebound from the coronavirus-driven slump. The blue-chip Dow Jones index .DJI added 1,000 points, briefly hitting a level not seen since early March, while the S&P 500 .SPX is less than 1% away from turning positive on the year.
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US/ Boeing Co BA.N gained 16.2%, the biggest boost to the Dow Jones index .DJI, on hopes of a pickup in air travel a day after American Airlines Group Inc AAL.O and United Airlines UAL.O said they would boost their U.S. flight schedule next month. By Devik Jain and Shreyashi Sanyal June 5 (Reuters) - A stunning U.S. jobs report on Friday put the Nasdaq within striking distance of its record high as investors flocked back to riskier assets on hopes of a swift economic rebound from the coronavirus-driven slump. Data from the Labor Department showed nonfarm payrolls rose by 2.509 million jobs last month after a record plunge of 20.687 million in April, and the unemployment rate unexpectedly fell to 13.3% in May from 14.7% in April.
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US/ Boeing Co BA.N gained 16.2%, the biggest boost to the Dow Jones index .DJI, on hopes of a pickup in air travel a day after American Airlines Group Inc AAL.O and United Airlines UAL.O said they would boost their U.S. flight schedule next month. By Devik Jain and Shreyashi Sanyal June 5 (Reuters) - A stunning U.S. jobs report on Friday put the Nasdaq within striking distance of its record high as investors flocked back to riskier assets on hopes of a swift economic rebound from the coronavirus-driven slump. The blue-chip Dow Jones index .DJI added 1,000 points, briefly hitting a level not seen since early March, while the S&P 500 .SPX is less than 1% away from turning positive on the year.
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e544c835-925b-4307-8d85-e2d93a643c19
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5750.0
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2020-06-05 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Genius Brands, Royal Caribbean, Sorrento
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AAL
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-genius-brands-royal-caribbean-sorrento-2020-06-05
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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
A stunning U.S. jobs report on Friday put the Nasdaq within striking distance of its record high as investors flocked back to riskier assets on hopes of a swift economic rebound from the coronavirus-driven slump. .N
At 13:00 ET, the Dow Jones Industrial Average .DJI was up 3.59% at 27,226.33. The S&P 500 .SPX was up 2.83% at 3,200.38 and the Nasdaq Composite .IXIC was up 2.14% at 9,821.979. The top three S&P 500 .PG.INX percentage gainers: ** Occidental Petroleum , up 29.6% ** Apache Corp , up 22.5% ** Norwegian Cruise Line Holdings , up 22.1% The top three S&P 500 .PL.INX percentage losers: ** Newmont Corp , down 4.6% ** Clorox Co , down 4.5% ** Regeneron Pharmaceuticals , down 3.3% The top three NYSE .PG.N percentage gainers: ** Gannett Co Inc , up 97.1% ** Hertz Global Holdings , up 66.7% ** Shft4 Payments Inc , up 46.5% The top three NYSE .PL.N percentage losers: ** Microsectors US Big Oil Index , down 33.3% ** Direxion Daily S&P500 High Beta Bear , down 23.4% ** Direxion Daily S&P Oil and Gas , down 20.4% The top three Nasdaq .PG.O percentage gainers: ** Ascena Retail , up 84.4% ** Legend Biotch corp , up 60.9% ** Applied Molecular Transport , up 49.8% The top three Nasdaq .PL.O percentage losers: ** Cinedigm Corp , down 23.1% ** Liquidia Technologies Inc , down 16.2% ** Rosehill Resources , down 12.9% ** Genius Brands International GNUS.O: down 4.1%
BUZZ- Slides after Hindenburg's short call ** IDEXX Laboratories Inc IDXX.O: up 1.4%
BUZZ-Rises after COVID-19 test gets EU nod ** Tenet Healthcare corp THC.N: up 16.3% ** HCA Healthcare Inc HCA.N: up 8.2%
BUZZ-Jefferies analysis shows pick-up in U.S. hospital visits ** Sorrento Therapeutics Inc SRNE.O: up 11.0%
BUZZ-Sorrento rises after protein blocks coronavirus infection in preclinical trial ** Tiffany & Co TIF.N: up 5.5%
BUZZ- Jumps on report LVMH not seeking to renegotiate takeover deal ** Tribune Publishing co TPCO.O: up 6.1%
BUZZ- Rises on sales beat, online user growth ** Royal Caribbean Cruises RCL.N: up 21.7%
BUZZ-Rides wave higher after $2 bln liquidity boost ** Insulet corp PODD.O: up 3.4%
BUZZ-Earlier-than-expected study resumption a strong catalyst -Cowen ** PG&E PCG.N: up 3.1%
BUZZ- RBC casts on doubts over credit rating, cuts PT ** Tetraphase Pharmaceuticals Inc TTPH.O: up 17.8%
BUZZ-Surges after FDA expands label for its antibiotic ** Broadcom Inc AVGO.O: up 4.8%
BUZZ-Street View: Broadcom remains a semiconductor powerhouse ** Exxon Mobil corp XOM.N: up 7.9% ** Chevron Corp CVX.N: up 4.9%
BUZZ-Oil & gas stocks: Up as traders await OPEC+ meeting on extending supply cuts ** Kontoor Brands KTB.N: up 12.8%
BUZZ-Set to extend rally as Susquehanna upgrades to "positive" ** Apple Inc AAPL.O: up 2.3%
BUZZ-Credit Suisse hikes PT on App Store growth ** ON Semiconductor corp ON.O: up 8.0%
BUZZ-Rosenblatt expects margins to rise, initiates with 'buy' ** Menlo Therapeutics MNLO.O: down 12.0%
BUZZ- Drops on stock offering plans ** Gap Inc GPS.N: up 1.5%
BUZZ-Street View: The gap between Gap's expensive and cheaper brands continues to widen ** Livongo Health LVGO.O: up 0.9%
BUZZ-Cowen initiates with 'outperform' on first-mover advantage ** Slack Technologies WORK.N: down 13.1%
BUZZ-Falls on slowing quarterly sales growth ** American Airlines Group AAL.O: up 16.4% ** United Airlines Holdings UAL.O: up 14.1%
BUZZ-U.S. airlines cruise higher on plans to ramp up flights in June, July ** Qualcomm Inc QCOM.O: up 3.7%
BUZZ-Rosenblatt initiates with 'buy' rating on 5G ramp-up ** Novavax Inc NVAX.O: up 3.6%
BUZZ-Rises on U.S. defense funding for COVID-19 vaccine candidate
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 1.92%
Consumer Discretionary
.SPLRCD
up 2.25%
Consumer Staples
.SPLRCS
up 1.51%
Energy
.SPNY
up 7.27%
Financial
.SPSY
up 4.18%
Health
.SPXHC
up 1.86%
Industrial
.SPLRCI
up 4.68%
Information Technology
.SPLRCT
up 2.59%
Materials
.SPLRCM
up 2.90%
Real Estate
.SPLRCR
up 3.73%
Utilities
.SPLRCU
up 2.43%
(Reporting 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: ** Occidental Petroleum , up 29.6% ** Apache Corp , up 22.5% ** Norwegian Cruise Line Holdings , up 22.1% The top three S&P 500 .PL.INX percentage losers: ** Newmont Corp , down 4.6% ** Clorox Co , down 4.5% ** Regeneron Pharmaceuticals , down 3.3% The top three NYSE .PG.N percentage gainers: ** Gannett Co Inc , up 97.1% ** Hertz Global Holdings , up 66.7% ** Shft4 Payments Inc , up 46.5% The top three NYSE .PL.N percentage losers: ** Microsectors US Big Oil Index , down 33.3% ** Direxion Daily S&P500 High Beta Bear , down 23.4% ** Direxion Daily S&P Oil and Gas , down 20.4% The top three Nasdaq .PG.O percentage gainers: ** Ascena Retail , up 84.4% ** Legend Biotch corp , up 60.9% ** Applied Molecular Transport , up 49.8% The top three Nasdaq .PL.O percentage losers: ** Cinedigm Corp , down 23.1% ** Liquidia Technologies Inc , down 16.2% ** Rosehill Resources , down 12.9% ** Genius Brands International GNUS.O: down 4.1% BUZZ- Slides after Hindenburg's short call ** IDEXX Laboratories Inc IDXX.O: up 1.4% BUZZ-Rises after COVID-19 test gets EU nod ** Tenet Healthcare corp THC.N: up 16.3% ** HCA Healthcare Inc HCA.N: up 8.2% BUZZ-Jefferies analysis shows pick-up in U.S. hospital visits ** Sorrento Therapeutics Inc SRNE.O: up 11.0% BUZZ-Sorrento rises after protein blocks coronavirus infection in preclinical trial ** Tiffany & Co TIF.N: up 5.5% BUZZ- Jumps on report LVMH not seeking to renegotiate takeover deal ** Tribune Publishing co TPCO.O: up 6.1% BUZZ- Rises on sales beat, online user growth ** Royal Caribbean Cruises RCL.N: up 21.7% BUZZ-Rides wave higher after $2 bln liquidity boost ** Insulet corp PODD.O: up 3.4% BUZZ-Earlier-than-expected study resumption a strong catalyst -Cowen ** PG&E PCG.N: up 3.1% BUZZ- RBC casts on doubts over credit rating, cuts PT ** Tetraphase Pharmaceuticals Inc TTPH.O: up 17.8% BUZZ-Surges after FDA expands label for its antibiotic ** Broadcom Inc AVGO.O: up 4.8% BUZZ-Street View: Broadcom remains a semiconductor powerhouse ** Exxon Mobil corp XOM.N: up 7.9% ** Chevron Corp CVX.N: up 4.9% BUZZ-Oil & gas stocks: Up as traders await OPEC+ meeting on extending supply cuts ** Kontoor Brands KTB.N: up 12.8% BUZZ-Set to extend rally as Susquehanna upgrades to "positive" ** Apple Inc AAPL.O: up 2.3% BUZZ-Credit Suisse hikes PT on App Store growth ** ON Semiconductor corp ON.O: up 8.0% BUZZ-Rosenblatt expects margins to rise, initiates with 'buy' ** Menlo Therapeutics MNLO.O: down 12.0% BUZZ- Drops on stock offering plans ** Gap Inc GPS.N: up 1.5% BUZZ-Street View: The gap between Gap's expensive and cheaper brands continues to widen ** Livongo Health LVGO.O: up 0.9% BUZZ-Cowen initiates with 'outperform' on first-mover advantage ** Slack Technologies WORK.N: down 13.1% BUZZ-Falls on slowing quarterly sales growth ** American Airlines Group AAL.O: up 16.4% ** United Airlines Holdings UAL.O: up 14.1% BUZZ-U.S. airlines cruise higher on plans to ramp up flights in June, July ** Qualcomm Inc QCOM.O: up 3.7% BUZZ-Rosenblatt initiates with 'buy' rating on 5G ramp-up ** Novavax Inc NVAX.O: up 3.6% BUZZ-Rises on U.S. defense funding for COVID-19 vaccine candidate 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 A stunning U.S. jobs report on Friday put the Nasdaq within striking distance of its record high as investors flocked back to riskier assets on hopes of a swift economic rebound from the coronavirus-driven slump. up 2.43% (Reporting 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: ** Occidental Petroleum , up 29.6% ** Apache Corp , up 22.5% ** Norwegian Cruise Line Holdings , up 22.1% The top three S&P 500 .PL.INX percentage losers: ** Newmont Corp , down 4.6% ** Clorox Co , down 4.5% ** Regeneron Pharmaceuticals , down 3.3% The top three NYSE .PG.N percentage gainers: ** Gannett Co Inc , up 97.1% ** Hertz Global Holdings , up 66.7% ** Shft4 Payments Inc , up 46.5% The top three NYSE .PL.N percentage losers: ** Microsectors US Big Oil Index , down 33.3% ** Direxion Daily S&P500 High Beta Bear , down 23.4% ** Direxion Daily S&P Oil and Gas , down 20.4% The top three Nasdaq .PG.O percentage gainers: ** Ascena Retail , up 84.4% ** Legend Biotch corp , up 60.9% ** Applied Molecular Transport , up 49.8% The top three Nasdaq .PL.O percentage losers: ** Cinedigm Corp , down 23.1% ** Liquidia Technologies Inc , down 16.2% ** Rosehill Resources , down 12.9% ** Genius Brands International GNUS.O: down 4.1% BUZZ- Slides after Hindenburg's short call ** IDEXX Laboratories Inc IDXX.O: up 1.4% BUZZ-Rises after COVID-19 test gets EU nod ** Tenet Healthcare corp THC.N: up 16.3% ** HCA Healthcare Inc HCA.N: up 8.2% BUZZ-Jefferies analysis shows pick-up in U.S. hospital visits ** Sorrento Therapeutics Inc SRNE.O: up 11.0% BUZZ-Sorrento rises after protein blocks coronavirus infection in preclinical trial ** Tiffany & Co TIF.N: up 5.5% BUZZ- Jumps on report LVMH not seeking to renegotiate takeover deal ** Tribune Publishing co TPCO.O: up 6.1% BUZZ- Rises on sales beat, online user growth ** Royal Caribbean Cruises RCL.N: up 21.7% BUZZ-Rides wave higher after $2 bln liquidity boost ** Insulet corp PODD.O: up 3.4% BUZZ-Earlier-than-expected study resumption a strong catalyst -Cowen ** PG&E PCG.N: up 3.1% BUZZ- RBC casts on doubts over credit rating, cuts PT ** Tetraphase Pharmaceuticals Inc TTPH.O: up 17.8% BUZZ-Surges after FDA expands label for its antibiotic ** Broadcom Inc AVGO.O: up 4.8% BUZZ-Street View: Broadcom remains a semiconductor powerhouse ** Exxon Mobil corp XOM.N: up 7.9% ** Chevron Corp CVX.N: up 4.9% BUZZ-Oil & gas stocks: Up as traders await OPEC+ meeting on extending supply cuts ** Kontoor Brands KTB.N: up 12.8% BUZZ-Set to extend rally as Susquehanna upgrades to "positive" ** Apple Inc AAPL.O: up 2.3% BUZZ-Credit Suisse hikes PT on App Store growth ** ON Semiconductor corp ON.O: up 8.0% BUZZ-Rosenblatt expects margins to rise, initiates with 'buy' ** Menlo Therapeutics MNLO.O: down 12.0% BUZZ- Drops on stock offering plans ** Gap Inc GPS.N: up 1.5% BUZZ-Street View: The gap between Gap's expensive and cheaper brands continues to widen ** Livongo Health LVGO.O: up 0.9% BUZZ-Cowen initiates with 'outperform' on first-mover advantage ** Slack Technologies WORK.N: down 13.1% BUZZ-Falls on slowing quarterly sales growth ** American Airlines Group AAL.O: up 16.4% ** United Airlines Holdings UAL.O: up 14.1% BUZZ-U.S. airlines cruise higher on plans to ramp up flights in June, July ** Qualcomm Inc QCOM.O: up 3.7% BUZZ-Rosenblatt initiates with 'buy' rating on 5G ramp-up ** Novavax Inc NVAX.O: up 3.6% BUZZ-Rises on U.S. defense funding for COVID-19 vaccine candidate 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 A stunning U.S. jobs report on Friday put the Nasdaq within striking distance of its record high as investors flocked back to riskier assets on hopes of a swift economic rebound from the coronavirus-driven slump. up 2.43% (Reporting 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: ** Occidental Petroleum , up 29.6% ** Apache Corp , up 22.5% ** Norwegian Cruise Line Holdings , up 22.1% The top three S&P 500 .PL.INX percentage losers: ** Newmont Corp , down 4.6% ** Clorox Co , down 4.5% ** Regeneron Pharmaceuticals , down 3.3% The top three NYSE .PG.N percentage gainers: ** Gannett Co Inc , up 97.1% ** Hertz Global Holdings , up 66.7% ** Shft4 Payments Inc , up 46.5% The top three NYSE .PL.N percentage losers: ** Microsectors US Big Oil Index , down 33.3% ** Direxion Daily S&P500 High Beta Bear , down 23.4% ** Direxion Daily S&P Oil and Gas , down 20.4% The top three Nasdaq .PG.O percentage gainers: ** Ascena Retail , up 84.4% ** Legend Biotch corp , up 60.9% ** Applied Molecular Transport , up 49.8% The top three Nasdaq .PL.O percentage losers: ** Cinedigm Corp , down 23.1% ** Liquidia Technologies Inc , down 16.2% ** Rosehill Resources , down 12.9% ** Genius Brands International GNUS.O: down 4.1% BUZZ- Slides after Hindenburg's short call ** IDEXX Laboratories Inc IDXX.O: up 1.4% BUZZ-Rises after COVID-19 test gets EU nod ** Tenet Healthcare corp THC.N: up 16.3% ** HCA Healthcare Inc HCA.N: up 8.2% BUZZ-Jefferies analysis shows pick-up in U.S. hospital visits ** Sorrento Therapeutics Inc SRNE.O: up 11.0% BUZZ-Sorrento rises after protein blocks coronavirus infection in preclinical trial ** Tiffany & Co TIF.N: up 5.5% BUZZ- Jumps on report LVMH not seeking to renegotiate takeover deal ** Tribune Publishing co TPCO.O: up 6.1% BUZZ- Rises on sales beat, online user growth ** Royal Caribbean Cruises RCL.N: up 21.7% BUZZ-Rides wave higher after $2 bln liquidity boost ** Insulet corp PODD.O: up 3.4% BUZZ-Earlier-than-expected study resumption a strong catalyst -Cowen ** PG&E PCG.N: up 3.1% BUZZ- RBC casts on doubts over credit rating, cuts PT ** Tetraphase Pharmaceuticals Inc TTPH.O: up 17.8% BUZZ-Surges after FDA expands label for its antibiotic ** Broadcom Inc AVGO.O: up 4.8% BUZZ-Street View: Broadcom remains a semiconductor powerhouse ** Exxon Mobil corp XOM.N: up 7.9% ** Chevron Corp CVX.N: up 4.9% BUZZ-Oil & gas stocks: Up as traders await OPEC+ meeting on extending supply cuts ** Kontoor Brands KTB.N: up 12.8% BUZZ-Set to extend rally as Susquehanna upgrades to "positive" ** Apple Inc AAPL.O: up 2.3% BUZZ-Credit Suisse hikes PT on App Store growth ** ON Semiconductor corp ON.O: up 8.0% BUZZ-Rosenblatt expects margins to rise, initiates with 'buy' ** Menlo Therapeutics MNLO.O: down 12.0% BUZZ- Drops on stock offering plans ** Gap Inc GPS.N: up 1.5% BUZZ-Street View: The gap between Gap's expensive and cheaper brands continues to widen ** Livongo Health LVGO.O: up 0.9% BUZZ-Cowen initiates with 'outperform' on first-mover advantage ** Slack Technologies WORK.N: down 13.1% BUZZ-Falls on slowing quarterly sales growth ** American Airlines Group AAL.O: up 16.4% ** United Airlines Holdings UAL.O: up 14.1% BUZZ-U.S. airlines cruise higher on plans to ramp up flights in June, July ** Qualcomm Inc QCOM.O: up 3.7% BUZZ-Rosenblatt initiates with 'buy' rating on 5G ramp-up ** Novavax Inc NVAX.O: up 3.6% BUZZ-Rises on U.S. defense funding for COVID-19 vaccine candidate The 11 major S&P 500 sectors: Communication Services .N At 13:00 ET, the Dow Jones Industrial Average .DJI was up 3.59% at 27,226.33. up 1.92% Consumer Discretionary
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The top three S&P 500 .PG.INX percentage gainers: ** Occidental Petroleum , up 29.6% ** Apache Corp , up 22.5% ** Norwegian Cruise Line Holdings , up 22.1% The top three S&P 500 .PL.INX percentage losers: ** Newmont Corp , down 4.6% ** Clorox Co , down 4.5% ** Regeneron Pharmaceuticals , down 3.3% The top three NYSE .PG.N percentage gainers: ** Gannett Co Inc , up 97.1% ** Hertz Global Holdings , up 66.7% ** Shft4 Payments Inc , up 46.5% The top three NYSE .PL.N percentage losers: ** Microsectors US Big Oil Index , down 33.3% ** Direxion Daily S&P500 High Beta Bear , down 23.4% ** Direxion Daily S&P Oil and Gas , down 20.4% The top three Nasdaq .PG.O percentage gainers: ** Ascena Retail , up 84.4% ** Legend Biotch corp , up 60.9% ** Applied Molecular Transport , up 49.8% The top three Nasdaq .PL.O percentage losers: ** Cinedigm Corp , down 23.1% ** Liquidia Technologies Inc , down 16.2% ** Rosehill Resources , down 12.9% ** Genius Brands International GNUS.O: down 4.1% BUZZ- Slides after Hindenburg's short call ** IDEXX Laboratories Inc IDXX.O: up 1.4% BUZZ-Rises after COVID-19 test gets EU nod ** Tenet Healthcare corp THC.N: up 16.3% ** HCA Healthcare Inc HCA.N: up 8.2% BUZZ-Jefferies analysis shows pick-up in U.S. hospital visits ** Sorrento Therapeutics Inc SRNE.O: up 11.0% BUZZ-Sorrento rises after protein blocks coronavirus infection in preclinical trial ** Tiffany & Co TIF.N: up 5.5% BUZZ- Jumps on report LVMH not seeking to renegotiate takeover deal ** Tribune Publishing co TPCO.O: up 6.1% BUZZ- Rises on sales beat, online user growth ** Royal Caribbean Cruises RCL.N: up 21.7% BUZZ-Rides wave higher after $2 bln liquidity boost ** Insulet corp PODD.O: up 3.4% BUZZ-Earlier-than-expected study resumption a strong catalyst -Cowen ** PG&E PCG.N: up 3.1% BUZZ- RBC casts on doubts over credit rating, cuts PT ** Tetraphase Pharmaceuticals Inc TTPH.O: up 17.8% BUZZ-Surges after FDA expands label for its antibiotic ** Broadcom Inc AVGO.O: up 4.8% BUZZ-Street View: Broadcom remains a semiconductor powerhouse ** Exxon Mobil corp XOM.N: up 7.9% ** Chevron Corp CVX.N: up 4.9% BUZZ-Oil & gas stocks: Up as traders await OPEC+ meeting on extending supply cuts ** Kontoor Brands KTB.N: up 12.8% BUZZ-Set to extend rally as Susquehanna upgrades to "positive" ** Apple Inc AAPL.O: up 2.3% BUZZ-Credit Suisse hikes PT on App Store growth ** ON Semiconductor corp ON.O: up 8.0% BUZZ-Rosenblatt expects margins to rise, initiates with 'buy' ** Menlo Therapeutics MNLO.O: down 12.0% BUZZ- Drops on stock offering plans ** Gap Inc GPS.N: up 1.5% BUZZ-Street View: The gap between Gap's expensive and cheaper brands continues to widen ** Livongo Health LVGO.O: up 0.9% BUZZ-Cowen initiates with 'outperform' on first-mover advantage ** Slack Technologies WORK.N: down 13.1% BUZZ-Falls on slowing quarterly sales growth ** American Airlines Group AAL.O: up 16.4% ** United Airlines Holdings UAL.O: up 14.1% BUZZ-U.S. airlines cruise higher on plans to ramp up flights in June, July ** Qualcomm Inc QCOM.O: up 3.7% BUZZ-Rosenblatt initiates with 'buy' rating on 5G ramp-up ** Novavax Inc NVAX.O: up 3.6% BUZZ-Rises on U.S. defense funding for COVID-19 vaccine candidate 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 A stunning U.S. jobs report on Friday put the Nasdaq within striking distance of its record high as investors flocked back to riskier assets on hopes of a swift economic rebound from the coronavirus-driven slump. .N At 13:00 ET, the Dow Jones Industrial Average .DJI was up 3.59% at 27,226.33.
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cbe360bd-0744-4929-8819-2c580c5d061b
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5751.0
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2020-06-05 00:00:00 UTC
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Why Carnival, Royal Caribbean, and Norwegian Cruise Line Stocks Soared Today
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AAL
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https://www.nasdaq.com/articles/why-carnival-royal-caribbean-and-norwegian-cruise-line-stocks-soared-today-2020-06-05
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What happened
Cruise ship stocks surged on Friday after a surprising jobs report boosted investors' hopes for a faster-than-expected economic recovery.
As of 1:30 p.m. EDT, shares of Carnival (NYSE: CCL), Royal Caribbean (NYSE: RCL), and Norwegian Cruise Line Holdings (NYSE: NCLH) were all up more than 20%.
So what
The U.S. economy added 2.5 million jobs in May, according to the Labor Department, which brought the unemployment rate down to 13.3%. That was in stark contrast to analysts' projections. Wall Street expected the economy to lose 8 million jobs, which would have increased the unemployment rate to nearly 20%.
These surprising job numbers ignited a sharp rally in the stock markets, with all of the major indexes enjoying gains of at least 2%. The news also helped to further the rally in travel-related stocks, which followed American Airlines' (NASDAQ: AAL) announcement on Thursday that it would increase its number of domestic flights in July due to a sharp rebound in passenger traffic in May.
Cruise ship stocks soared on Friday. Image source: Getty Images.
Now what
A quicker economic recovery would certainly be beneficial to the cruise ship industry, which depends on customers having enough discretionary income to spend on vacations. And if people are willing to fly on planes during the coronavirus pandemic, as American Airlines' traffic metrics suggest, then they also may be willing to book cruises. That, too, bodes well for Carnival, Royal Caribbean, and Norwegian Cruise Line Holdings.
10 stocks we like better than Carnival
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David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Carnival 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
Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool recommends Carnival. 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 news also helped to further the rally in travel-related stocks, which followed American Airlines' (NASDAQ: AAL) announcement on Thursday that it would increase its number of domestic flights in July due to a sharp rebound in passenger traffic in May. What happened Cruise ship stocks surged on Friday after a surprising jobs report boosted investors' hopes for a faster-than-expected economic recovery. Now what A quicker economic recovery would certainly be beneficial to the cruise ship industry, which depends on customers having enough discretionary income to spend on vacations.
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The news also helped to further the rally in travel-related stocks, which followed American Airlines' (NASDAQ: AAL) announcement on Thursday that it would increase its number of domestic flights in July due to a sharp rebound in passenger traffic in May. As of 1:30 p.m. EDT, shares of Carnival (NYSE: CCL), Royal Caribbean (NYSE: RCL), and Norwegian Cruise Line Holdings (NYSE: NCLH) were all up more than 20%. These surprising job numbers ignited a sharp rally in the stock markets, with all of the major indexes enjoying gains of at least 2%.
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The news also helped to further the rally in travel-related stocks, which followed American Airlines' (NASDAQ: AAL) announcement on Thursday that it would increase its number of domestic flights in July due to a sharp rebound in passenger traffic in May. What happened Cruise ship stocks surged on Friday after a surprising jobs report boosted investors' hopes for a faster-than-expected economic recovery. 10 stocks we like better than Carnival When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen.
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The news also helped to further the rally in travel-related stocks, which followed American Airlines' (NASDAQ: AAL) announcement on Thursday that it would increase its number of domestic flights in July due to a sharp rebound in passenger traffic in May. What happened Cruise ship stocks surged on Friday after a surprising jobs report boosted investors' hopes for a faster-than-expected economic recovery. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
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42399bd3-a5d0-4fe9-b95c-58ccd3730f6a
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5752.0
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2020-06-05 00:00:00 UTC
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Pick the Perfect Time to Get on Board the JetBlue Stock Flight
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AAL
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https://www.nasdaq.com/articles/pick-the-perfect-time-to-get-on-board-the-jetblue-stock-flight-2020-06-05
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
The good news is that airline stocks are soaring this week. Just yesterday JetBlue (NASDAQ:JBLU) and most of its cohort rallied 15%. American Airlines (NASDAQ:AAL) tipped the scales with a whopping 41% spike in just one day! JBLU stock is up another 5%-plus today — which is actually DOWN from the 10% gains it had managed this morning.
Source: Roman Tiraspolsky / Shutterstock.com
I don’t care how good the news was, moves this big make impossible for me to chase in good conscience. Today’s write up is a buy-the-dip note — but not on this move.
This sounds bearish, but it is not a call to sell the rip either. In fact, a few weeks ago when investors were selling JBLU stock down 8% in mere hours I was writing about taking the long side of that action. Those trades are all green now with a quick double.
It is important to celebrate the improvements this week, but it is more important to properly frame them. For perspective, the airline stocks are still down 30% to 60% this year, even after these spikes. The reason investors are flocking into them now is on the news that they added significantly more June flights than in May, and more for July. But in all fairness, this would still be 60% below last year’s levels.
7 Earnings Reports to Watch Next Week
Currently air traffic is still down almost 90%, so anything above zero sounds great. My concern is that the celebration was excessive relative to the improvement.
Management during tough times matters, and JetBlue got creative while fighting for its life. They even sold rewards points to raise $150 million in cash. This team gets kudos points for thinking outside the box. This should give investors confidence that they are likely to successfully navigate the next tests.
JBLU Stock Has a Battle Ahead
Source: Charts by TradingView
Most of the easy work is done. Into yesterday’s high, JBLU stock had doubled from the crash low. This is also coming into the 50% recovery of the whole correction, which is where normally we find sellers lurking.
Initiating new longs here means leaving the trade vulnerable to starting on a sour note. But it all depends on the investor’s individual time frames.
Those who are looking to own airlines for the long term are probably comfortable sitting through the potential resistance zones. But the rest of us should expect a tougher slog from here than getting to here.
Even the long-term believers should also recognize that the recovery doesn’t mean back to 100% health. The new normal is not going to be like the old one. Capacity restrictions will severely hamper sales. Moreover costs will rise to comply with new rules and regulations. The airlines will impose some on themselves but more will come from federal agencies.
Fear Will Certainly Be a Factor
In addition to dealing with the logistics of reopening the flights, management will need to handle the human element. People are scared of Covid-19, so they will not be flying nearly as often as before. Some will likely refuse to fly at all before we get a vaccine.
It’s also true that there is the chance we won’t ever get a vaccine. So far, there hasn’t been one successful vaccine on any coronavirus. Flying will become a necessity not a pleasure, so demand is not likely to snap back into pre-crisis levels. the price will also probably need to rise to cover the new costs and habits.
This is all to say that the existing assumptions for the airline industry from before February have changed forever. They will need to prove that they can still succeed as well as they did before — and they were not superstars in any case. This all adds up to a whole bunch of uncertainties on a great many fronts. JetBlue will have to fix the top and bottom line problems to re-tweak their company performances. Consequently, the current fundamental metrics are useless. Very little of what was will continue the same going forward.
Trading JetBlue Will be Tricky Against March Levels
The price action in JBLU stock on March 20 will matter. This was a point of contention then, so it will be again here. There should be sellers from $13 through $15 per share. But this won’t be the end of the rally forever, it will be a place to stall.
This is important so that the recovery wouldn’t be frothy. A house of cards is easy to destroy, and it’s in the best interest of the bulls to retreat a little to build a better base.
The best trades come when investor sentiment is near its worst levels. No, this is not to say that we should pick the bottoms but the best opportunities that present themselves at the worst times and this is not one of them.
I shared my note on April 22 when it wasn’t an obvious entry point, and it paid well. Today doesn’t feel like that time.
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 Pick the Perfect Time to Get on Board the JetBlue Stock Flight 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) tipped the scales with a whopping 41% spike in just one day! In fact, a few weeks ago when investors were selling JBLU stock down 8% in mere hours I was writing about taking the long side of that action. Fear Will Certainly Be a Factor In addition to dealing with the logistics of reopening the flights, management will need to handle the human element.
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American Airlines (NASDAQ:AAL) tipped the scales with a whopping 41% spike in just one day! InvestorPlace - Stock Market News, Stock Advice & Trading Tips The good news is that airline stocks are soaring this week. Just yesterday JetBlue (NASDAQ:JBLU) and most of its cohort rallied 15%.
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American Airlines (NASDAQ:AAL) tipped the scales with a whopping 41% spike in just one day! InvestorPlace - Stock Market News, Stock Advice & Trading Tips The good news is that airline stocks are soaring this week. In fact, a few weeks ago when investors were selling JBLU stock down 8% in mere hours I was writing about taking the long side of that action.
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American Airlines (NASDAQ:AAL) tipped the scales with a whopping 41% spike in just one day! InvestorPlace - Stock Market News, Stock Advice & Trading Tips The good news is that airline stocks are soaring this week. JBLU stock is up another 5%-plus today — which is actually DOWN from the 10% gains it had managed this morning.
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1f623324-07a3-4ec7-8575-2e4100197e64
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5753.0
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2020-06-05 00:00:00 UTC
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Wall St jumps, Nasdaq set for record closing high after surprise jobs report
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AAL
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https://www.nasdaq.com/articles/wall-st-jumps-nasdaq-set-for-record-closing-high-after-surprise-jobs-report-2020-06-05
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nan
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By Stephen Culp
NEW YORK, June 5 (Reuters) - Wall Street surged on Friday, and the Nasdaq was on course to set a new record closing high after the May jobs provided an astounding upside surprise and the clearest evidence yet that the U.S. economy is bouncing back sooner than expected from pandemic-related lockdowns.
The Nasdaq is set to be the first among the three major U.S. stock indexes to reclaim all-time highs reached in February. The S&P 500 and the Dow are now within 6% and 8% of overtaking their record closing levels.
The benchmark S&P 500 is now within one percent of showing a year-to-date gain.
The U.S. economy added a remarkable 2.5 million jobs last month, rebounding from April's record 20.7 million payrolls drop and pushing the unemployment rate down to 13.3%. Analysts saw unemployment soaring to a historic 19.8%.
"I don't think anybody anticipated this," said Michael Arone, chief investment strategist at State Street Global Advisors in Boston.
"It has confirmed what many folks were suggesting - that the effects on the labor market from the pandemic were temporary and that when the economy reopened and the infection rates started to diminish, that these jobs would come back."
"This report confirms that."
U.S. Treasury yields rose on the jobs data, giving a boost to interest rate-sensitive banks and sending the S&P 500 Banks index .SPXBK up 5.5%.
Airlines, among the hardest hit by the coronavirus crisis, soared, with the ARCA Airlines index jumping 8.5%.
But the World Health Organization warned that the COVID-19 pandemic, which brought the global economy to its knees in the wake of mandated shutdowns, is far from over and new cases are on the rise.
Market participants now turn their focus to the U.S. Federal Reserve, at whose monetary policy meeting next week the latest jobs data will almost certainly be discussed.
The Dow Jones Industrial Average .DJI rose 891.6 points, or 3.39%, to 27,173.42, the S&P 500 .SPX gained 87.41 points, or 2.81%, to 3,199.76 and the Nasdaq Composite .IXIC added 207.37 points, or 2.16%, to 9,823.18.
All 11 major sectors of the S&P 500 were in the black, with energy .SPNY, financials .SPSY and industrials .SPLRCI leading the gainers in a continuation of a rotation into cyclicals, which were beaten up amid economic lockdowns.
Small caps and transportation stocks also outperformed, with the Russell 2000 .RUT and Dow Transportation .DJT up 4.7% and 3.9%, respectively.
Boeing Co BA.N surged 12.2%, giving biggest the blue-chip Dow its biggest boost, on hopes of a pickup in air travel a day after American Airlines Group Inc AAL.O and United Airlines UAL.O said they would boost their U.S. flight schedule next month.
Shares of luxury retailer Tiffany & Co TIF.N jumped 5.5% after Reuters reported LVMH's $16.2-billion takeover deal was back on track.
Drugmaker Novavax Inc NVAX.O advanced 2.8% after announcing it would receive up to $60 million from the U.S. Department of Defense to manufacture its COVID-19 vaccine candidate.
Advancing issues outnumbered declining ones on the NYSE by a 6.08-to-1 ratio; on Nasdaq, a 3.70-to-1 ratio favored advancers.
The S&P 500 posted 24 new 52-week highs and no new lows; the Nasdaq Composite recorded 82 new highs and 2 new lows.
(Reporting by Stephen Culp; additional reporting by Herb Lash; Editing by Cynthia Osterman)
((stephen.culp@thomsonreuters.com; 646-223-6076;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Boeing Co BA.N surged 12.2%, giving biggest the blue-chip Dow its biggest boost, on hopes of a pickup in air travel a day after American Airlines Group Inc AAL.O and United Airlines UAL.O said they would boost their U.S. flight schedule next month. By Stephen Culp NEW YORK, June 5 (Reuters) - Wall Street surged on Friday, and the Nasdaq was on course to set a new record closing high after the May jobs provided an astounding upside surprise and the clearest evidence yet that the U.S. economy is bouncing back sooner than expected from pandemic-related lockdowns. "It has confirmed what many folks were suggesting - that the effects on the labor market from the pandemic were temporary and that when the economy reopened and the infection rates started to diminish, that these jobs would come back."
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Boeing Co BA.N surged 12.2%, giving biggest the blue-chip Dow its biggest boost, on hopes of a pickup in air travel a day after American Airlines Group Inc AAL.O and United Airlines UAL.O said they would boost their U.S. flight schedule next month. The U.S. economy added a remarkable 2.5 million jobs last month, rebounding from April's record 20.7 million payrolls drop and pushing the unemployment rate down to 13.3%. The Dow Jones Industrial Average .DJI rose 891.6 points, or 3.39%, to 27,173.42, the S&P 500 .SPX gained 87.41 points, or 2.81%, to 3,199.76 and the Nasdaq Composite .IXIC added 207.37 points, or 2.16%, to 9,823.18.
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Boeing Co BA.N surged 12.2%, giving biggest the blue-chip Dow its biggest boost, on hopes of a pickup in air travel a day after American Airlines Group Inc AAL.O and United Airlines UAL.O said they would boost their U.S. flight schedule next month. By Stephen Culp NEW YORK, June 5 (Reuters) - Wall Street surged on Friday, and the Nasdaq was on course to set a new record closing high after the May jobs provided an astounding upside surprise and the clearest evidence yet that the U.S. economy is bouncing back sooner than expected from pandemic-related lockdowns. The Dow Jones Industrial Average .DJI rose 891.6 points, or 3.39%, to 27,173.42, the S&P 500 .SPX gained 87.41 points, or 2.81%, to 3,199.76 and the Nasdaq Composite .IXIC added 207.37 points, or 2.16%, to 9,823.18.
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Boeing Co BA.N surged 12.2%, giving biggest the blue-chip Dow its biggest boost, on hopes of a pickup in air travel a day after American Airlines Group Inc AAL.O and United Airlines UAL.O said they would boost their U.S. flight schedule next month. By Stephen Culp NEW YORK, June 5 (Reuters) - Wall Street surged on Friday, and the Nasdaq was on course to set a new record closing high after the May jobs provided an astounding upside surprise and the clearest evidence yet that the U.S. economy is bouncing back sooner than expected from pandemic-related lockdowns. The U.S. economy added a remarkable 2.5 million jobs last month, rebounding from April's record 20.7 million payrolls drop and pushing the unemployment rate down to 13.3%.
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1135af8c-2af6-42c3-925a-9a28255357cc
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5754.0
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2020-06-05 00:00:00 UTC
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Donald Trump says Warren Buffett makes a mistake selling airline stocks
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AAL
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https://www.nasdaq.com/articles/donald-trump-says-warren-buffett-makes-a-mistake-selling-airline-stocks-2020-06-05
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nan
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nan
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By Jonathan Stempel
June 5 (Reuters) - U.S. President Donald Trump on Friday said Warren Buffett, often regarded as the world's greatest investor, made a mistake by recently exiting a multi-billion dollar investment in the airline industry.
Trump made his assessment at the White House, shortly after the U.S. Labor Department reported an unexpected surge in May jobs, and five weeks after Buffett said his Berkshire Hathaway Inc BRKa.N sold its airline stakes.
"Warren Buffett sold airlines a little while ago," Trump said. "He's been right his whole life, but sometimes even somebody like Warren Buffett -- I have a lot of respect for him -- they make mistakes. They should have kept the airline stocks because the airline stocks went through the roof today."
Buffett did not immediately respond to a request for comment through his assistant.
At Berkshire's May 2 annual meeting, Buffett said his Omaha, Nebraska-based conglomerate had in April sold its roughly $6 billion of stock in American Airlines Group Inc AAL.O, Delta Air Lines Inc DAL.N, Southwest Airlines Co LUV.N and United AIrlines Holdings Inc UAL.O.
Buffett said the coronavirus pandemic had changed the industry "in a very major way," through no fault of the carriers, leaving the future of flying "much less clear."
Many airline stocks have outpaced the broader market this week, as carriers took steps to restore some flights they had canceled because of the pandemic.
American, Delta, Southwest and United rose after the Labor Department said U.S. nonfarm payrolls grew by 2.51 million in May, and the jobless rate fell to 13.3% from April's 14.7%.
Economists on average expected a loss of 8 million jobs, and a 19.8% unemployment rate.
Berkshire's stock is lagging the Standard & Poor's 500 .SPX for a second straight year.
Investors have faulted Buffett for not spending more of Berkshire's cash, which ended March at $137.3 billion.
(Reporting by Jonathan Stempel in New York; Editing by Cynthia Osterman)
((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters Messaging: jon.stempel.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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At Berkshire's May 2 annual meeting, Buffett said his Omaha, Nebraska-based conglomerate had in April sold its roughly $6 billion of stock in American Airlines Group Inc AAL.O, Delta Air Lines Inc DAL.N, Southwest Airlines Co LUV.N and United AIrlines Holdings Inc UAL.O. By Jonathan Stempel June 5 (Reuters) - U.S. President Donald Trump on Friday said Warren Buffett, often regarded as the world's greatest investor, made a mistake by recently exiting a multi-billion dollar investment in the airline industry. Trump made his assessment at the White House, shortly after the U.S. Labor Department reported an unexpected surge in May jobs, and five weeks after Buffett said his Berkshire Hathaway Inc BRKa.N sold its airline stakes.
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At Berkshire's May 2 annual meeting, Buffett said his Omaha, Nebraska-based conglomerate had in April sold its roughly $6 billion of stock in American Airlines Group Inc AAL.O, Delta Air Lines Inc DAL.N, Southwest Airlines Co LUV.N and United AIrlines Holdings Inc UAL.O. "Warren Buffett sold airlines a little while ago," Trump said. American, Delta, Southwest and United rose after the Labor Department said U.S. nonfarm payrolls grew by 2.51 million in May, and the jobless rate fell to 13.3% from April's 14.7%.
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At Berkshire's May 2 annual meeting, Buffett said his Omaha, Nebraska-based conglomerate had in April sold its roughly $6 billion of stock in American Airlines Group Inc AAL.O, Delta Air Lines Inc DAL.N, Southwest Airlines Co LUV.N and United AIrlines Holdings Inc UAL.O. By Jonathan Stempel June 5 (Reuters) - U.S. President Donald Trump on Friday said Warren Buffett, often regarded as the world's greatest investor, made a mistake by recently exiting a multi-billion dollar investment in the airline industry. Trump made his assessment at the White House, shortly after the U.S. Labor Department reported an unexpected surge in May jobs, and five weeks after Buffett said his Berkshire Hathaway Inc BRKa.N sold its airline stakes.
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At Berkshire's May 2 annual meeting, Buffett said his Omaha, Nebraska-based conglomerate had in April sold its roughly $6 billion of stock in American Airlines Group Inc AAL.O, Delta Air Lines Inc DAL.N, Southwest Airlines Co LUV.N and United AIrlines Holdings Inc UAL.O. "Warren Buffett sold airlines a little while ago," Trump said. They should have kept the airline stocks because the airline stocks went through the roof today."
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0c117978-8caf-4809-a791-eba7153f072e
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5755.0
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2020-06-05 00:00:00 UTC
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U.S. will allow Chinese passenger carriers two flights per week
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AAL
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https://www.nasdaq.com/articles/u.s.-will-allow-chinese-passenger-carriers-two-flights-per-week-2020-06-05
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nan
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nan
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By David Shepardson
WASHINGTON, June 5 (Reuters) - The U.S. Transportation Department said on Friday it will allow Chinese passenger air carriers to operate two flights per week after Beijing said it would ease coronavirus restrictions to allow in more foreign carriers.
On Wednesday, Washington said it planned to bar all Chinese passenger airlines from flying to the United States by June 16, due to Beijing's curbs on U.S. carriers. The revised Transportation Department order cuts in half the four weekly round trip flights Chinese passenger carriers have been flying to the United States and take effect immediately.
The department said if China takes further steps for U.S. carriers it is "fully prepared to once again revisit the action." The notice added that the department is "troubled by China’s continued unilateral dictation of the terms of the U.S.-China scheduled passenger air transportation market without respect for the rights of U.S. carriers."
The announcement defuses a potential new flashpoint in the U.S.-China relationship. The Chinese Embassy in Washington did not immediately comment.
China's announcement should allow U.S. carriers to resume once-a-week flights into a city of their choice starting on June 8, a fraction of what the U.S.-China aviation agreement allows.
The U.S. limit affects U.S. roundtrip flights by Air China 601111.SS, China Eastern Airlines Corp, China Southern Airlines Co 600029.SS and Xiamen Airlines Co. It is not immediately known which flights will be allowed to continue.
It is also unclear if U.S. carriers will agree to fly just once a week to China when they have sought approval for two or three daily flights.
Delta Air Lines DAL.N and United Airlines UAL.O asked to resume flights to China this month. Both said they were studying China's action.
China said all airlines can increase the number of international flights involving China to two per week if none of their passengers test positive for COVID-19 for three consecutive weeks.
(Reporting by David Shepardson, Editing by Franklin Paul and Bill Berkrot)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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On Wednesday, Washington said it planned to bar all Chinese passenger airlines from flying to the United States by June 16, due to Beijing's curbs on U.S. carriers. The revised Transportation Department order cuts in half the four weekly round trip flights Chinese passenger carriers have been flying to the United States and take effect immediately. The notice added that the department is "troubled by China’s continued unilateral dictation of the terms of the U.S.-China scheduled passenger air transportation market without respect for the rights of U.S.
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By David Shepardson WASHINGTON, June 5 (Reuters) - The U.S. Transportation Department said on Friday it will allow Chinese passenger air carriers to operate two flights per week after Beijing said it would ease coronavirus restrictions to allow in more foreign carriers. On Wednesday, Washington said it planned to bar all Chinese passenger airlines from flying to the United States by June 16, due to Beijing's curbs on U.S. carriers. The revised Transportation Department order cuts in half the four weekly round trip flights Chinese passenger carriers have been flying to the United States and take effect immediately.
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By David Shepardson WASHINGTON, June 5 (Reuters) - The U.S. Transportation Department said on Friday it will allow Chinese passenger air carriers to operate two flights per week after Beijing said it would ease coronavirus restrictions to allow in more foreign carriers. The U.S. limit affects U.S. roundtrip flights by Air China 601111.SS, China Eastern Airlines Corp, China Southern Airlines Co 600029.SS and Xiamen Airlines Co. China said all airlines can increase the number of international flights involving China to two per week if none of their passengers test positive for COVID-19 for three consecutive weeks.
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By David Shepardson WASHINGTON, June 5 (Reuters) - The U.S. Transportation Department said on Friday it will allow Chinese passenger air carriers to operate two flights per week after Beijing said it would ease coronavirus restrictions to allow in more foreign carriers. The revised Transportation Department order cuts in half the four weekly round trip flights Chinese passenger carriers have been flying to the United States and take effect immediately. carriers."
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8d3cba5e-96c2-424b-ab23-45a73df2ba26
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5756.0
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2020-06-05 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Tiffany, Royal Caribbean Cruises, Tetraphase
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AAL
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-tiffany-royal-caribbean-cruises-tetraphase-2020-06-05
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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 indexes jumped on Friday, with the Nasdaq Composite less than 1% away from a record high, after a closely watched report showed surprise job additions in May, lending weight to hopes of a faster economic rebound from a coronavirus-led slump. .N
At 9:30 a.m. ET, the Dow Jones Industrial Average .DJI was up 2.80% at 27,018.68. The S&P 500 .SPX was up 2.13% at 3,178.74 and the Nasdaq Composite .IXIC was up 1.46% at 9,756.253. The top three S&P 500 .PG.INX percentage gainers: ** American Airlines Group , up 30.3% ** Norwegian Cruise Line Holdings , up 20.7% ** United Airlines Holdings , up 19.5% The top three S&P 500 .PL.INX percentage losers: ** Newmont Corp , down 4.5% ** Cboe Global Markets , down 2.9% ** Equinix Inc , down 2.2% The top three NYSE .PG.N percentage gainers: ** Hertz Global Holdings , up 120.7% ** Western Asset Mortgage Capital , up 26.1% ** Dynagas Lng Partners , up 35.1% The top three NYSE .PL.N percentage losers: ** Microsector US Big Oil Index , down 29.1% ** Direxion Daily S&P500 High Beta Bear , down 22.7% ** Slack Technologies Inc , down 18.2% The top three Nasdaq .PG.O percentage gainers: ** Luckin Coffe Inc , up 51.1% ** Xpresspa Group , up 35.3% ** American Airlines Group , up 30.3% The top three Nasdaq .PL.O percentage losers: ** Cinedigm Corp , down 26.9% ** Genius Brnds International , down 17.6% ** Rosehill Resources , down 17.3% ** Pacific Ethanol Inc PEIX.O: down 2.2%
BUZZ-Falls on proposed mixed-shelf offering ** Tiffany & Co TIF.N: up 8.3%
BUZZ-: Jumps on report LVMH not seeking to renegotiate takeover deal ** Tribune Publishing co TPCO.O: up 1.1%
BUZZ- rises on sales beat, online user growth ** Royal Caribbean Cruises RCL.N: up 14.8%
BUZZ-Rides wave higher after $2 bln liquidity boost ** RH RH.N: up 2.3%
BUZZ-Jumps on upbeat Q1, growing demand ** Insulet corp PODD.O: down 0.7%
BUZZ-Earlier-than-expected study resumption a strong catalyst -Cowen ** PG&E PCG.N: up 3.4%
BUZZ-: RBC casts on doubts over credit rating, cuts PT ** Tetraphase Pharmaceuticals Inc TTPH.O: up 15.5%
BUZZ-Surges after FDA expands label for its antibiotic ** Broadcom Inc AVGO.O: up 5.4%
BUZZ-Street View: Broadcom remains a semiconductor powerhouse ** Exxon Mobil corp XOM.N: up 7.1% ** Chevron Corp CVX.N: up 4.7%
BUZZ-Oil & gas stocks: Up as traders await OPEC+ meeting on extending supply cuts ** Kontoor Brands KTB.N: up 10.4%
BUZZ-Set to extend rally as Susquehanna upgrades to "positive" ** Apple Inc AAPL.O: up 1.4%
BUZZ-Credit Suisse hikes PT on App Store growth ** ON Semiconductor corp ON.O: up 5.5%
BUZZ-Rosenblatt expects margins to rise, initiates with 'buy' ** Menlo Therapeutics MNLO.O: down 10.6%
BUZZ- drops on stock offering plans ** Gap Inc GPS.N: down 2.3%
BUZZ-Street View: The gap between Gap's expensive and cheaper brands continues to widen ** Livongo Health LVGO.O: down 1.0%
BUZZ-Cowen initiates with 'outperform' on first-mover advantage ** Slack Technologies WORK.N: down 18.2%
BUZZ-Falls on slowing quarterly sales growth ** American Airlines Group AAL.O: up 30.3% ** United Airlines Holdings UAL.O: up 17.6%
BUZZ-U.S. airlines cruise higher on plans to ramp up flights in June, July ** Qualcomm Inc QCOM.O: up 3.9%
BUZZ-Rosenblatt initiates with 'buy' rating on 5G ramp-up ** Novavax Inc NVAX.O: up 11.1%
BUZZ-Rises on U.S. defense funding for COVID-19 vaccine candidate
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 0.88%
Consumer Discretionary
.SPLRCD
up 1.93%
Consumer Staples
.SPLRCS
up 0.61%
Energy
.SPNY
up 6.55%
Financial
.SPSY
up 4.41%
Health
.SPXHC
up 0.95%
Industrial
.SPLRCI
up 4.23%
Information Technology
.SPLRCT
up 1.61%
Materials
.SPLRCM
up 2.72%
Real Estate
.SPLRCR
up 2.93%
Utilities
.SPLRCU
up 1.06%
(Reporting 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: ** American Airlines Group , up 30.3% ** Norwegian Cruise Line Holdings , up 20.7% ** United Airlines Holdings , up 19.5% The top three S&P 500 .PL.INX percentage losers: ** Newmont Corp , down 4.5% ** Cboe Global Markets , down 2.9% ** Equinix Inc , down 2.2% The top three NYSE .PG.N percentage gainers: ** Hertz Global Holdings , up 120.7% ** Western Asset Mortgage Capital , up 26.1% ** Dynagas Lng Partners , up 35.1% The top three NYSE .PL.N percentage losers: ** Microsector US Big Oil Index , down 29.1% ** Direxion Daily S&P500 High Beta Bear , down 22.7% ** Slack Technologies Inc , down 18.2% The top three Nasdaq .PG.O percentage gainers: ** Luckin Coffe Inc , up 51.1% ** Xpresspa Group , up 35.3% ** American Airlines Group , up 30.3% The top three Nasdaq .PL.O percentage losers: ** Cinedigm Corp , down 26.9% ** Genius Brnds International , down 17.6% ** Rosehill Resources , down 17.3% ** Pacific Ethanol Inc PEIX.O: down 2.2% BUZZ-Falls on proposed mixed-shelf offering ** Tiffany & Co TIF.N: up 8.3% BUZZ-: Jumps on report LVMH not seeking to renegotiate takeover deal ** Tribune Publishing co TPCO.O: up 1.1% BUZZ- rises on sales beat, online user growth ** Royal Caribbean Cruises RCL.N: up 14.8% BUZZ-Rides wave higher after $2 bln liquidity boost ** RH RH.N: up 2.3% BUZZ-Jumps on upbeat Q1, growing demand ** Insulet corp PODD.O: down 0.7% BUZZ-Earlier-than-expected study resumption a strong catalyst -Cowen ** PG&E PCG.N: up 3.4% BUZZ-: RBC casts on doubts over credit rating, cuts PT ** Tetraphase Pharmaceuticals Inc TTPH.O: up 15.5% BUZZ-Surges after FDA expands label for its antibiotic ** Broadcom Inc AVGO.O: up 5.4% BUZZ-Street View: Broadcom remains a semiconductor powerhouse ** Exxon Mobil corp XOM.N: up 7.1% ** Chevron Corp CVX.N: up 4.7% BUZZ-Oil & gas stocks: Up as traders await OPEC+ meeting on extending supply cuts ** Kontoor Brands KTB.N: up 10.4% BUZZ-Set to extend rally as Susquehanna upgrades to "positive" ** Apple Inc AAPL.O: up 1.4% BUZZ-Credit Suisse hikes PT on App Store growth ** ON Semiconductor corp ON.O: up 5.5% BUZZ-Rosenblatt expects margins to rise, initiates with 'buy' ** Menlo Therapeutics MNLO.O: down 10.6% BUZZ- drops on stock offering plans ** Gap Inc GPS.N: down 2.3% BUZZ-Street View: The gap between Gap's expensive and cheaper brands continues to widen ** Livongo Health LVGO.O: down 1.0% BUZZ-Cowen initiates with 'outperform' on first-mover advantage ** Slack Technologies WORK.N: down 18.2% BUZZ-Falls on slowing quarterly sales growth ** American Airlines Group AAL.O: up 30.3% ** United Airlines Holdings UAL.O: up 17.6% BUZZ-U.S. airlines cruise higher on plans to ramp up flights in June, July ** Qualcomm Inc QCOM.O: up 3.9% BUZZ-Rosenblatt initiates with 'buy' rating on 5G ramp-up ** Novavax Inc NVAX.O: up 11.1% BUZZ-Rises on U.S. defense funding for COVID-19 vaccine candidate 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 indexes jumped on Friday, with the Nasdaq Composite less than 1% away from a record high, after a closely watched report showed surprise job additions in May, lending weight to hopes of a faster economic rebound from a coronavirus-led slump. up 1.06% (Reporting 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: ** American Airlines Group , up 30.3% ** Norwegian Cruise Line Holdings , up 20.7% ** United Airlines Holdings , up 19.5% The top three S&P 500 .PL.INX percentage losers: ** Newmont Corp , down 4.5% ** Cboe Global Markets , down 2.9% ** Equinix Inc , down 2.2% The top three NYSE .PG.N percentage gainers: ** Hertz Global Holdings , up 120.7% ** Western Asset Mortgage Capital , up 26.1% ** Dynagas Lng Partners , up 35.1% The top three NYSE .PL.N percentage losers: ** Microsector US Big Oil Index , down 29.1% ** Direxion Daily S&P500 High Beta Bear , down 22.7% ** Slack Technologies Inc , down 18.2% The top three Nasdaq .PG.O percentage gainers: ** Luckin Coffe Inc , up 51.1% ** Xpresspa Group , up 35.3% ** American Airlines Group , up 30.3% The top three Nasdaq .PL.O percentage losers: ** Cinedigm Corp , down 26.9% ** Genius Brnds International , down 17.6% ** Rosehill Resources , down 17.3% ** Pacific Ethanol Inc PEIX.O: down 2.2% BUZZ-Falls on proposed mixed-shelf offering ** Tiffany & Co TIF.N: up 8.3% BUZZ-: Jumps on report LVMH not seeking to renegotiate takeover deal ** Tribune Publishing co TPCO.O: up 1.1% BUZZ- rises on sales beat, online user growth ** Royal Caribbean Cruises RCL.N: up 14.8% BUZZ-Rides wave higher after $2 bln liquidity boost ** RH RH.N: up 2.3% BUZZ-Jumps on upbeat Q1, growing demand ** Insulet corp PODD.O: down 0.7% BUZZ-Earlier-than-expected study resumption a strong catalyst -Cowen ** PG&E PCG.N: up 3.4% BUZZ-: RBC casts on doubts over credit rating, cuts PT ** Tetraphase Pharmaceuticals Inc TTPH.O: up 15.5% BUZZ-Surges after FDA expands label for its antibiotic ** Broadcom Inc AVGO.O: up 5.4% BUZZ-Street View: Broadcom remains a semiconductor powerhouse ** Exxon Mobil corp XOM.N: up 7.1% ** Chevron Corp CVX.N: up 4.7% BUZZ-Oil & gas stocks: Up as traders await OPEC+ meeting on extending supply cuts ** Kontoor Brands KTB.N: up 10.4% BUZZ-Set to extend rally as Susquehanna upgrades to "positive" ** Apple Inc AAPL.O: up 1.4% BUZZ-Credit Suisse hikes PT on App Store growth ** ON Semiconductor corp ON.O: up 5.5% BUZZ-Rosenblatt expects margins to rise, initiates with 'buy' ** Menlo Therapeutics MNLO.O: down 10.6% BUZZ- drops on stock offering plans ** Gap Inc GPS.N: down 2.3% BUZZ-Street View: The gap between Gap's expensive and cheaper brands continues to widen ** Livongo Health LVGO.O: down 1.0% BUZZ-Cowen initiates with 'outperform' on first-mover advantage ** Slack Technologies WORK.N: down 18.2% BUZZ-Falls on slowing quarterly sales growth ** American Airlines Group AAL.O: up 30.3% ** United Airlines Holdings UAL.O: up 17.6% BUZZ-U.S. airlines cruise higher on plans to ramp up flights in June, July ** Qualcomm Inc QCOM.O: up 3.9% BUZZ-Rosenblatt initiates with 'buy' rating on 5G ramp-up ** Novavax Inc NVAX.O: up 11.1% BUZZ-Rises on U.S. defense funding for COVID-19 vaccine candidate 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 indexes jumped on Friday, with the Nasdaq Composite less than 1% away from a record high, after a closely watched report showed surprise job additions in May, lending weight to hopes of a faster economic rebound from a coronavirus-led slump. The S&P 500 .SPX was up 2.13% at 3,178.74 and the Nasdaq Composite .IXIC was up 1.46% at 9,756.253.
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The top three S&P 500 .PG.INX percentage gainers: ** American Airlines Group , up 30.3% ** Norwegian Cruise Line Holdings , up 20.7% ** United Airlines Holdings , up 19.5% The top three S&P 500 .PL.INX percentage losers: ** Newmont Corp , down 4.5% ** Cboe Global Markets , down 2.9% ** Equinix Inc , down 2.2% The top three NYSE .PG.N percentage gainers: ** Hertz Global Holdings , up 120.7% ** Western Asset Mortgage Capital , up 26.1% ** Dynagas Lng Partners , up 35.1% The top three NYSE .PL.N percentage losers: ** Microsector US Big Oil Index , down 29.1% ** Direxion Daily S&P500 High Beta Bear , down 22.7% ** Slack Technologies Inc , down 18.2% The top three Nasdaq .PG.O percentage gainers: ** Luckin Coffe Inc , up 51.1% ** Xpresspa Group , up 35.3% ** American Airlines Group , up 30.3% The top three Nasdaq .PL.O percentage losers: ** Cinedigm Corp , down 26.9% ** Genius Brnds International , down 17.6% ** Rosehill Resources , down 17.3% ** Pacific Ethanol Inc PEIX.O: down 2.2% BUZZ-Falls on proposed mixed-shelf offering ** Tiffany & Co TIF.N: up 8.3% BUZZ-: Jumps on report LVMH not seeking to renegotiate takeover deal ** Tribune Publishing co TPCO.O: up 1.1% BUZZ- rises on sales beat, online user growth ** Royal Caribbean Cruises RCL.N: up 14.8% BUZZ-Rides wave higher after $2 bln liquidity boost ** RH RH.N: up 2.3% BUZZ-Jumps on upbeat Q1, growing demand ** Insulet corp PODD.O: down 0.7% BUZZ-Earlier-than-expected study resumption a strong catalyst -Cowen ** PG&E PCG.N: up 3.4% BUZZ-: RBC casts on doubts over credit rating, cuts PT ** Tetraphase Pharmaceuticals Inc TTPH.O: up 15.5% BUZZ-Surges after FDA expands label for its antibiotic ** Broadcom Inc AVGO.O: up 5.4% BUZZ-Street View: Broadcom remains a semiconductor powerhouse ** Exxon Mobil corp XOM.N: up 7.1% ** Chevron Corp CVX.N: up 4.7% BUZZ-Oil & gas stocks: Up as traders await OPEC+ meeting on extending supply cuts ** Kontoor Brands KTB.N: up 10.4% BUZZ-Set to extend rally as Susquehanna upgrades to "positive" ** Apple Inc AAPL.O: up 1.4% BUZZ-Credit Suisse hikes PT on App Store growth ** ON Semiconductor corp ON.O: up 5.5% BUZZ-Rosenblatt expects margins to rise, initiates with 'buy' ** Menlo Therapeutics MNLO.O: down 10.6% BUZZ- drops on stock offering plans ** Gap Inc GPS.N: down 2.3% BUZZ-Street View: The gap between Gap's expensive and cheaper brands continues to widen ** Livongo Health LVGO.O: down 1.0% BUZZ-Cowen initiates with 'outperform' on first-mover advantage ** Slack Technologies WORK.N: down 18.2% BUZZ-Falls on slowing quarterly sales growth ** American Airlines Group AAL.O: up 30.3% ** United Airlines Holdings UAL.O: up 17.6% BUZZ-U.S. airlines cruise higher on plans to ramp up flights in June, July ** Qualcomm Inc QCOM.O: up 3.9% BUZZ-Rosenblatt initiates with 'buy' rating on 5G ramp-up ** Novavax Inc NVAX.O: up 11.1% BUZZ-Rises on U.S. defense funding for COVID-19 vaccine candidate The 11 major S&P 500 sectors: Communication Services ET, the Dow Jones Industrial Average .DJI was up 2.80% at 27,018.68. up 0.88% Consumer Discretionary
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The top three S&P 500 .PG.INX percentage gainers: ** American Airlines Group , up 30.3% ** Norwegian Cruise Line Holdings , up 20.7% ** United Airlines Holdings , up 19.5% The top three S&P 500 .PL.INX percentage losers: ** Newmont Corp , down 4.5% ** Cboe Global Markets , down 2.9% ** Equinix Inc , down 2.2% The top three NYSE .PG.N percentage gainers: ** Hertz Global Holdings , up 120.7% ** Western Asset Mortgage Capital , up 26.1% ** Dynagas Lng Partners , up 35.1% The top three NYSE .PL.N percentage losers: ** Microsector US Big Oil Index , down 29.1% ** Direxion Daily S&P500 High Beta Bear , down 22.7% ** Slack Technologies Inc , down 18.2% The top three Nasdaq .PG.O percentage gainers: ** Luckin Coffe Inc , up 51.1% ** Xpresspa Group , up 35.3% ** American Airlines Group , up 30.3% The top three Nasdaq .PL.O percentage losers: ** Cinedigm Corp , down 26.9% ** Genius Brnds International , down 17.6% ** Rosehill Resources , down 17.3% ** Pacific Ethanol Inc PEIX.O: down 2.2% BUZZ-Falls on proposed mixed-shelf offering ** Tiffany & Co TIF.N: up 8.3% BUZZ-: Jumps on report LVMH not seeking to renegotiate takeover deal ** Tribune Publishing co TPCO.O: up 1.1% BUZZ- rises on sales beat, online user growth ** Royal Caribbean Cruises RCL.N: up 14.8% BUZZ-Rides wave higher after $2 bln liquidity boost ** RH RH.N: up 2.3% BUZZ-Jumps on upbeat Q1, growing demand ** Insulet corp PODD.O: down 0.7% BUZZ-Earlier-than-expected study resumption a strong catalyst -Cowen ** PG&E PCG.N: up 3.4% BUZZ-: RBC casts on doubts over credit rating, cuts PT ** Tetraphase Pharmaceuticals Inc TTPH.O: up 15.5% BUZZ-Surges after FDA expands label for its antibiotic ** Broadcom Inc AVGO.O: up 5.4% BUZZ-Street View: Broadcom remains a semiconductor powerhouse ** Exxon Mobil corp XOM.N: up 7.1% ** Chevron Corp CVX.N: up 4.7% BUZZ-Oil & gas stocks: Up as traders await OPEC+ meeting on extending supply cuts ** Kontoor Brands KTB.N: up 10.4% BUZZ-Set to extend rally as Susquehanna upgrades to "positive" ** Apple Inc AAPL.O: up 1.4% BUZZ-Credit Suisse hikes PT on App Store growth ** ON Semiconductor corp ON.O: up 5.5% BUZZ-Rosenblatt expects margins to rise, initiates with 'buy' ** Menlo Therapeutics MNLO.O: down 10.6% BUZZ- drops on stock offering plans ** Gap Inc GPS.N: down 2.3% BUZZ-Street View: The gap between Gap's expensive and cheaper brands continues to widen ** Livongo Health LVGO.O: down 1.0% BUZZ-Cowen initiates with 'outperform' on first-mover advantage ** Slack Technologies WORK.N: down 18.2% BUZZ-Falls on slowing quarterly sales growth ** American Airlines Group AAL.O: up 30.3% ** United Airlines Holdings UAL.O: up 17.6% BUZZ-U.S. airlines cruise higher on plans to ramp up flights in June, July ** Qualcomm Inc QCOM.O: up 3.9% BUZZ-Rosenblatt initiates with 'buy' rating on 5G ramp-up ** Novavax Inc NVAX.O: up 11.1% BUZZ-Rises on U.S. defense funding for COVID-19 vaccine candidate 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 indexes jumped on Friday, with the Nasdaq Composite less than 1% away from a record high, after a closely watched report showed surprise job additions in May, lending weight to hopes of a faster economic rebound from a coronavirus-led slump. ET, the Dow Jones Industrial Average .DJI was up 2.80% at 27,018.68.
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55bd7fd9-2cb2-4018-8b69-9f2b34c4a918
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5757.0
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2020-06-05 00:00:00 UTC
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Wall Street rallies to end higher on surprise U.S. jobs report
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AAL
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https://www.nasdaq.com/articles/wall-street-rallies-to-end-higher-on-surprise-u.s.-jobs-report-2020-06-05
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nan
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nan
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By Stephen Culp
NEW YORK, June 5 (Reuters) - Wall Street surged on Friday after a strikingly upbeat May jobs report unexpectedly provided the clearest evidence yet that the U.S. economy is headed for a quicker-than-anticipated recovery.
The Nasdaq breached its all-time closing high reached in February but pared its gains to end the session a hair's breadth below it. All three major U.S. stock indexes advanced 2% or more.
The S&P 500 and the Dow are now 5.7% and 8.3% below their respective closing records.
The benchmark S&P 500 is now 1.1% below its year-to-date break-even level.
The U.S. economy added a remarkable 2.5 million jobs last month, rebounding from April's record 20.7 million drop and pushing the unemployment rate down to 13.3%. Analysts saw unemployment soaring to a historic 19.8%.
"The numbers are a huge surprise to the upside," said Michael Arone, chief investment strategist at State Street Global Advisors in Boston.
"It would suggest a further confirmation the economy is coming back online," Arone added. "This is a strong signal that the effects are temporary and that the economy is improving."
"Long may it last."
U.S. Treasury yields rose on the jobs data, giving a boost to interest rate-sensitive banks and sending the S&P 500 Banks index .SPXBK up 4.9%.
Airlines, among the hardest hit by the coronavirus crisis, soared, with the ARCA Airlines index jumping 5.7%.
But the World Health Organization warned that the COVID-19 pandemic, which brought the global economy to its knees in the wake of mandated shutdowns, is far from over and new cases are on the rise.
Market participants now turn their focus to the U.S. Federal Reserve, which holds a monetary policy meeting next week where the latest jobs data will almost certainly be discussed.
The Dow Jones Industrial Average .DJI rose 829.16 points, or 3.15%, to 27,110.98, the S&P 500 .SPX gained 81.58 points, or 2.62%, to 3,193.93 and the Nasdaq Composite .IXIC added 198.27 points, or 2.06%, to 9,814.08.
All 11 major sectors of the S&P 500 ended the session well in the black, with energy .SPNY, financials .SPSY and industrials .SPLRCI leading the gainers in a continuation of a rotation into cyclicals, which were beaten up amid economic lockdowns.
Small caps and transportation stocks also outperformed, with the Russell 2000 .RUT and Dow Transportation .DJT up 3.8% and 3.1%, respectively.
Boeing Co BA.N surged 11.5%, giving biggest the blue-chip Dow its biggest boost, on hopes of a pickup in air travel a day after American Airlines Group Inc AAL.O and United Airlines UAL.O said they would boost their U.S. flight schedule next month.
Shares of luxury retailer Tiffany & Co TIF.N jumped 6.5% after Reuters reported LVMH's $16.2-billion takeover deal was back on track.
Drugmaker Novavax Inc NVAX.O advanced 3.7% following its announcement that the U.S. Department of Defense would give it up to $60 million to manufacture its COVID-19 vaccine candidate.
Advancing issues outnumbered declining ones on the NYSE by a 5.03-to-1 ratio; on Nasdaq, a 3.08-to-1 ratio favored advancers.
The S&P 500 posted 26 new 52-week highs and no new lows; the Nasdaq Composite recorded 89 new highs and three new lows.
Volume on U.S. exchanges was 17.56 billion shares, compared with the 12.03 billion average over the last 20 trading days.
(Reporting by Stephen Culp; additional reporting by Herb Lash; Editing by Cynthia Osterman)
((stephen.culp@thomsonreuters.com; 646-223-6076;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Boeing Co BA.N surged 11.5%, giving biggest the blue-chip Dow its biggest boost, on hopes of a pickup in air travel a day after American Airlines Group Inc AAL.O and United Airlines UAL.O said they would boost their U.S. flight schedule next month. By Stephen Culp NEW YORK, June 5 (Reuters) - Wall Street surged on Friday after a strikingly upbeat May jobs report unexpectedly provided the clearest evidence yet that the U.S. economy is headed for a quicker-than-anticipated recovery. Market participants now turn their focus to the U.S. Federal Reserve, which holds a monetary policy meeting next week where the latest jobs data will almost certainly be discussed.
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Boeing Co BA.N surged 11.5%, giving biggest the blue-chip Dow its biggest boost, on hopes of a pickup in air travel a day after American Airlines Group Inc AAL.O and United Airlines UAL.O said they would boost their U.S. flight schedule next month. All three major U.S. stock indexes advanced 2% or more. The Dow Jones Industrial Average .DJI rose 829.16 points, or 3.15%, to 27,110.98, the S&P 500 .SPX gained 81.58 points, or 2.62%, to 3,193.93 and the Nasdaq Composite .IXIC added 198.27 points, or 2.06%, to 9,814.08.
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Boeing Co BA.N surged 11.5%, giving biggest the blue-chip Dow its biggest boost, on hopes of a pickup in air travel a day after American Airlines Group Inc AAL.O and United Airlines UAL.O said they would boost their U.S. flight schedule next month. The U.S. economy added a remarkable 2.5 million jobs last month, rebounding from April's record 20.7 million drop and pushing the unemployment rate down to 13.3%. The Dow Jones Industrial Average .DJI rose 829.16 points, or 3.15%, to 27,110.98, the S&P 500 .SPX gained 81.58 points, or 2.62%, to 3,193.93 and the Nasdaq Composite .IXIC added 198.27 points, or 2.06%, to 9,814.08.
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Boeing Co BA.N surged 11.5%, giving biggest the blue-chip Dow its biggest boost, on hopes of a pickup in air travel a day after American Airlines Group Inc AAL.O and United Airlines UAL.O said they would boost their U.S. flight schedule next month. The Nasdaq breached its all-time closing high reached in February but pared its gains to end the session a hair's breadth below it. All three major U.S. stock indexes advanced 2% or more.
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e45571ae-fa0e-429e-8cfa-a50c9856c583
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5758.0
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2020-06-05 00:00:00 UTC
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Stock Alert: American Airlines Climbing 25% As Co. Is To Restore More Flights
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AAL
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https://www.nasdaq.com/articles/stock-alert%3A-american-airlines-climbing-25-as-co.-is-to-restore-more-flights-2020-06-05
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nan
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nan
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(RTTNews) - Shares of American Airlines Group Inc. (AAL) are surging more than 25% Friday morning, continuing with its upward momentum, with a jump of nearly 80% in the last two days.
On June 4, the airliner said it is planning to restore more flights this summer with more offers and discounts. It is planning to fly more than 55% of its July 2019 domestic capacity in July 2020. Increased demand was seen by the last week of May, American said.
"We're seeing a slow but steady rise in domestic demand. After a careful review of data, we've built a July schedule to match," said Vasu Raja, American's Senior Vice President of Network Strategy. "Our July schedule includes the smallest year-over-year capacity reduction since March. We'll continue to look for prudent opportunities to restore service so our customers can travel whenever and wherever they are ready."
AAL is currently trading at $20.94. It has traded in the range of $8.25- $34.99 in the last 52 weeks.
The views and 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) - Shares of American Airlines Group Inc. (AAL) are surging more than 25% Friday morning, continuing with its upward momentum, with a jump of nearly 80% in the last two days. AAL is currently trading at $20.94. After a careful review of data, we've built a July schedule to match," said Vasu Raja, American's Senior Vice President of Network Strategy.
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(RTTNews) - Shares of American Airlines Group Inc. (AAL) are surging more than 25% Friday morning, continuing with its upward momentum, with a jump of nearly 80% in the last two days. AAL is currently trading at $20.94. It is planning to fly more than 55% of its July 2019 domestic capacity in July 2020.
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(RTTNews) - Shares of American Airlines Group Inc. (AAL) are surging more than 25% Friday morning, continuing with its upward momentum, with a jump of nearly 80% in the last two days. AAL is currently trading at $20.94. It is planning to fly more than 55% of its July 2019 domestic capacity in July 2020.
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AAL is currently trading at $20.94. (RTTNews) - Shares of American Airlines Group Inc. (AAL) are surging more than 25% Friday morning, continuing with its upward momentum, with a jump of nearly 80% in the last two days. It is planning to fly more than 55% of its July 2019 domestic capacity in July 2020.
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8bfc60e8-708a-4939-966f-b2b64a01aada
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5759.0
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2020-06-05 00:00:00 UTC
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Why Travel Stocks Jumped Higher Today
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AAL
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https://www.nasdaq.com/articles/why-travel-stocks-jumped-higher-today-2020-06-05
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nan
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nan
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What happened
It appears yesterday was not, in fact, the end of the rally for the S&P 500.
This morning, shares across the markets spiked sharply higher. By 12 p.m. EDT, the S&P 500 was up a strong 3%. Stock names closely tied to the travel and tourism industries are experiencing especially strong support:
Online travel agency Expedia Group (NASDAQ: EXPE) is up 4.9%
Travel planner TripAdvisor (NASDAQ: TRIP) soared 16%
Hotel chain Marriott International (NASDAQ: MAR) notched a 5.1% gain
Hyatt Hotels (NYSE: H) is up 5.7%.
Image source: Getty Images.
So what
What do these four stocks have in common? Basically, they form a continuum of the tourism experience, wherein would-be travelers might begin researching a trip on TripAdvisor before heading over to Expedia to make reservations to stay at a Marriott or Hyatt hotel upon arriving at their destination.
And today, investors appear to be betting that a lot more people will be taking a lot more trips soon.
Why might that be? This morning, the U.S. Bureau of Labor Statistics reported a 2.5 million-job surge in jobs added to U.S. payrolls in the month of May. When you consider that economists had been predicting a 7.2 million decline in jobs, that's pretty surprising news. BLS also said that the national unemployment rate has dropped from almost 15% to about 13.3%.
At the same time, New York Mayor Bill de Blasio is keeping New York City's plans to begin a Phase 1 reopening of NYC on Monday, which in and of itself could add somewhere between 200,000 and 400,000 jobs to the economy. If all goes well, Phase 2 could arrive by early July, reopening restaurants for outdoor dining and adding back even more jobs previously lost to the Great Lockdown.
Now what
More businesses reopening means more reason to travel -- and more travel-related businesses to entertain travelers when they arrive. More jobs means more disposable income for consumers to spend on travel. In short, both of these developments, arriving one on top of the other, are giving investors a lot of reason to be optimistic that America could soon return to normal.
That being said, I would like to inject one note of caution into today's rally. "Normal" won't arrive overnight, and some of the moves we're seeing in the stock market these past few days don't seem to reflect that fact. I'm thinking most specifically of American Airlines (NASDAQ: AAL) investors bidding up the stock of an airline 41% yesterday, and as much as another 36% this morning -- all on news that the company hopes to fly just half as many passengers in July 2020 as it did in 2019.
That rally didn't make much sense to me. These others that we're seeing today may not, either.
10 stocks we like better than Marriott International
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 Marriott International 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
Rich Smith has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends TripAdvisor. The Motley Fool recommends Hyatt Hotels and Marriott International. 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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I'm thinking most specifically of American Airlines (NASDAQ: AAL) investors bidding up the stock of an airline 41% yesterday, and as much as another 36% this morning -- all on news that the company hopes to fly just half as many passengers in July 2020 as it did in 2019. Basically, they form a continuum of the tourism experience, wherein would-be travelers might begin researching a trip on TripAdvisor before heading over to Expedia to make reservations to stay at a Marriott or Hyatt hotel upon arriving at their destination. If all goes well, Phase 2 could arrive by early July, reopening restaurants for outdoor dining and adding back even more jobs previously lost to the Great Lockdown.
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I'm thinking most specifically of American Airlines (NASDAQ: AAL) investors bidding up the stock of an airline 41% yesterday, and as much as another 36% this morning -- all on news that the company hopes to fly just half as many passengers in July 2020 as it did in 2019. Stock names closely tied to the travel and tourism industries are experiencing especially strong support: Online travel agency Expedia Group (NASDAQ: EXPE) is up 4.9% Travel planner TripAdvisor (NASDAQ: TRIP) soared 16% Hotel chain Marriott International (NASDAQ: MAR) notched a 5.1% gain Hyatt Hotels (NYSE: H) is up 5.7%. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Rich Smith has no position in any of the stocks mentioned.
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I'm thinking most specifically of American Airlines (NASDAQ: AAL) investors bidding up the stock of an airline 41% yesterday, and as much as another 36% this morning -- all on news that the company hopes to fly just half as many passengers in July 2020 as it did in 2019. Stock names closely tied to the travel and tourism industries are experiencing especially strong support: Online travel agency Expedia Group (NASDAQ: EXPE) is up 4.9% Travel planner TripAdvisor (NASDAQ: TRIP) soared 16% Hotel chain Marriott International (NASDAQ: MAR) notched a 5.1% gain Hyatt Hotels (NYSE: H) is up 5.7%. "Normal" won't arrive overnight, and some of the moves we're seeing in the stock market these past few days don't seem to reflect that fact.
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I'm thinking most specifically of American Airlines (NASDAQ: AAL) investors bidding up the stock of an airline 41% yesterday, and as much as another 36% this morning -- all on news that the company hopes to fly just half as many passengers in July 2020 as it did in 2019. Now what More businesses reopening means more reason to travel -- and more travel-related businesses to entertain travelers when they arrive. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
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80ded7bb-0a51-4ee2-8b0c-7e4c5559aa7e
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5760.0
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2020-06-05 00:00:00 UTC
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Why Shares of American Airlines Are Rocketing Higher Again Today
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AAL
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https://www.nasdaq.com/articles/why-shares-of-american-airlines-are-rocketing-higher-again-today-2020-06-05
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nan
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nan
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What happened
Shares of American Airlines Group (NASDAQ: AAL) opened on Friday up 30% after climbing 40% on Thursday. Investors are getting excited about a recovery in the travel sector, but they appear to be getting ahead of themselves.
So what
It has been a strange, turbulent year for airline stocks.
The sector was hit hard by the COVID-19 pandemic, which caused carriers to slash flights and scramble to avoid liquidity issues. Shares of American and other airlines lost more than half of their value beginning in early February on fears there would be a number of bankruptcies in the sector.
Image source: American Airlines.
American was hit particularly hard because the airline had the most debt among U.S. carriers, and the company was seen as being particularly vulnerable to an extended downturn.
It now appears possible travel bottomed out in April and is beginning to recover. American said Thursday that it was restoring a significant number of flights in July due to increased demand. The airline said it averaged 110,330 passengers per day in the last week of May, more than triple the 32,154 daily passenger average for April.
Investors are cheering a return to normalcy, sending the shares higher. A better-than-expected jobs report on Friday also helped give the sector lift, as it was viewed as a sign the economy is beginning to recover from the pandemic crisis.
Now what
The news is good, and the data is pointing in the right direction. But investors need to be careful not to jump the gun. American is restoring flights, but still plans to fly only about 55% of its capacity from July 2019. Even if the crisis is largely over, it is likely to take years for demand to fully recover, and airlines -- including American -- have loaded their balance sheets with debt to survive the crisis.
It also remains to be seen how much discounting airlines are doing to fill these flights. The carriers have to stay at full employment through Sept. 30 as a condition of the CARES Act bailout bill, so there is some argument to be made for flying even if flights are not soundly profitable. And given the way the stock has pushed higher and the amount of debt American has, the airline could consider a secondary offering to raise fresh cash that would dilute current holders.
We also do not yet know if there will be a second wave of infections, or what the economy will do in the months to come. It all adds up to a lot of risk and a lot of uncertainty.
The numbers are encouraging, but given the risks that still remain, investors need to focus on the industry's top performers. American is not on that list, and the current rally feels overdone.
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) opened on Friday up 30% after climbing 40% on Thursday. A better-than-expected jobs report on Friday also helped give the sector lift, as it was viewed as a sign the economy is beginning to recover from the pandemic crisis. The carriers have to stay at full employment through Sept. 30 as a condition of the CARES Act bailout bill, so there is some argument to be made for flying even if flights are not soundly profitable.
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What happened Shares of American Airlines Group (NASDAQ: AAL) opened on Friday up 30% after climbing 40% on Thursday. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Lou Whiteman has no position in any of the stocks mentioned.
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What happened Shares of American Airlines Group (NASDAQ: AAL) opened on Friday up 30% after climbing 40% on Thursday. 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. * 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) opened on Friday up 30% after climbing 40% on Thursday. A better-than-expected jobs report on Friday also helped give the sector lift, as it was viewed as a sign the economy is beginning to recover from the pandemic crisis. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Lou Whiteman has no position in any of the stocks mentioned.
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6ffda02c-4518-4b2b-bf16-4a01205f8209
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5761.0
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2020-06-05 00:00:00 UTC
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S&P 500 Movers: GPS, AAL
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AAL
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https://www.nasdaq.com/articles/sp-500-movers%3A-gps-aal-2020-06-05
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nan
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nan
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In early trading on Friday, shares of American Airlines Group topped the list of the day's best performing components of the S&P 500 index, trading up 22.4%. Year to date, American Airlines Group has lost about 28.6% of its value.
And the worst performing S&P 500 component thus far on the day is The Gap, trading down 3.8%. The Gap is lower by about 33.9% looking at the year to date performance.
Two other components making moves today are Clorox, trading down 2.7%, and Occidental Petroleum, trading up 22.4% on the day.
VIDEO: S&P 500 Movers: GPS, AAL
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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VIDEO: S&P 500 Movers: GPS, AAL The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In early trading on Friday, shares of American Airlines Group topped the list of the day's best performing components of the S&P 500 index, trading up 22.4%. Year to date, American Airlines Group has lost about 28.6% of its value.
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VIDEO: S&P 500 Movers: GPS, AAL The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In early trading on Friday, shares of American Airlines Group topped the list of the day's best performing components of the S&P 500 index, trading up 22.4%. Year to date, American Airlines Group has lost about 28.6% of its value.
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VIDEO: S&P 500 Movers: GPS, AAL The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In early trading on Friday, shares of American Airlines Group topped the list of the day's best performing components of the S&P 500 index, trading up 22.4%. Two other components making moves today are Clorox, trading down 2.7%, and Occidental Petroleum, trading up 22.4% on the day.
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VIDEO: S&P 500 Movers: GPS, AAL The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In early trading on Friday, shares of American Airlines Group topped the list of the day's best performing components of the S&P 500 index, trading up 22.4%. And the worst performing S&P 500 component thus far on the day is The Gap, trading down 3.8%.
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dd5ae411-b499-4c6a-99ed-1b3f46f2527d
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5762.0
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2020-06-05 00:00:00 UTC
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American Airlines Stock Just Soared 41% for No Good Reason
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AAL
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https://www.nasdaq.com/articles/american-airlines-stock-just-soared-41-for-no-good-reason-2020-06-05
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nan
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nan
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So far, 2020 has been an awful year for American Airlines (NASDAQ: AAL). The COVID-19 pandemic caused demand to plunge to nearly zero beginning in March. As a result, American -- which had hoped to start paying down its massive debt load this year -- has instead been bleeding cash rapidly. Meanwhile, American Airlines' stock price has plunged, bottoming out at $8.25 in mid-May.
Since then, American Airlines' share price has been recovering gradually, reaching $11.85 by the end of trading on Wednesday. The stock proceeded to go on a tear on Thursday, surging as much as 53% before pulling back to end the day up "only" 41%.
American Airlines Stock Performance, data by YCharts.
So what caused American Airlines stock to skyrocket yesterday? Did the company receive a big windfall? Raise its earnings guidance? Announce a promising turnaround plan?
To answer those three questions: no, no, and no. The only news was that American Airlines is significantly increasing its capacity in July compared to the past couple of months, due to improving booking trends. The impact of this revelation was amplified by a massive short squeeze. Considering American's extremely weak balance sheet, this news certainly didn't justify such a big jump in American Airlines' stock price.
What the airline said
During May, American Airlines limited its domestic capacity to just 20% of 2019 levels, in response to the sharp decline in air-travel demand. It implemented even sharper cuts to its international routes. That enabled a significant increase in American's load factor (the percentage of seats filled with paying customers) compared to the prior month.
In April -- when American was operating more flights -- load factor averaged just 15%. Load factor improved to 41% for the first 23 days of May and 55% from May 24 to May 29. In the last week of May, American Airlines carried an average of 110,330 passengers per day, up from 32,154 in April.
This wasn't entirely news, though. At an industry conference last week, American Airlines CEO Doug Parker told investors that the carrier's load factor had reached 56% over Memorial Day weekend. Furthermore, passenger throughput at TSA checkpoints has more than tripled since mid-April, according to statistics the TSA has been providing daily.
Image source: American Airlines.
The one piece of real news was that American Airlines plans to fly a little more than 55% of its July 2019 domestic schedule next month, reflecting slow but steady sequential improvements in demand. International capacity will remain down more than 80% year over year, leaving systemwide capacity at 40% of July 2019 levels.
Traffic is returning; profits aren't
American Airlines' July schedule update suggests that the carrier is seeing improved booking trends for the peak summer travel season. Nevertheless, it's clear that demand remains far below 2019 levels.
Throughput at TSA checkpoints has been down more than 85% year over year in recent weeks. That might conceivably improve to down 70% or so in July, but that's still quite awful. It's doubtful that any U.S. airlines can make money with that level of volume -- certainly not American Airlines, which has below-average margins in the best of times.
Furthermore, as every Econ 101 student learns, there's a difference between demand and quantity demanded. Sequential improvements in passenger traffic are less impressive if they're being stimulated by unusually low fares.
While it's too soon to know for sure, there's reason to believe that cheap fares are contributing to the rebound in air travel. At the industry conference last week, American Airlines' management reiterated its late-April forecast that daily cash burn would recede to $50 million by June but average around $70 million for the second quarter as whole. That's the highest level of projected cash burn for any U.S. airline.
If fares were anywhere near 2019 levels, rising bookings and traffic would have allowed American Airlines to improve its cash-flow forecast. Instead, the airline remains on pace to burn through a stunning $6 billion or more just in the second quarter.
Avoid American Airlines stock
Cost reductions and the gradual return of demand will allow American Airlines to reduce its cash burn in the second half of 2020. Nevertheless, the airline is almost certain to burn billions more before year-end.
This will boost American Airlines' combined debt, lease, and pension liabilities from around $40 billion at the end of last quarter to roughly $50 billion by the end of 2020. That alone is reason enough for investors to steer clear of American Airlines stock. Digging out from this debt pile will be nearly impossible.
Furthermore, it could take two years or more for American Airlines to return to profitability. Most analysts expect business travel and long-haul international travel to recover very slowly. Meanwhile, competition to serve domestic leisure travelers could be brutal, as low-fare airlines try to capitalize on the COVID-19 crisis to make long-term market share gains.
After Thursday's rally, American Airlines' market cap has fallen by just $5 billion year to date -- considerably less than the company's likely 2020 cash burn. With bankruptcy a very real possibility if the nascent demand recovery falters later this year (due to a surge in new COVID-19 cases, for example), investors should stay far away from American Airlines stock.
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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So far, 2020 has been an awful year for American Airlines (NASDAQ: AAL). At an industry conference last week, American Airlines CEO Doug Parker told investors that the carrier's load factor had reached 56% over Memorial Day weekend. The one piece of real news was that American Airlines plans to fly a little more than 55% of its July 2019 domestic schedule next month, reflecting slow but steady sequential improvements in demand.
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So far, 2020 has been an awful year for American Airlines (NASDAQ: AAL). Since then, American Airlines' share price has been recovering gradually, reaching $11.85 by the end of trading on Wednesday. The only news was that American Airlines is significantly increasing its capacity in July compared to the past couple of months, due to improving booking trends.
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So far, 2020 has been an awful year for American Airlines (NASDAQ: AAL). Considering American's extremely weak balance sheet, this news certainly didn't justify such a big jump in American Airlines' stock price. What the airline said During May, American Airlines limited its domestic capacity to just 20% of 2019 levels, in response to the sharp decline in air-travel demand.
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So far, 2020 has been an awful year for American Airlines (NASDAQ: AAL). As a result, American -- which had hoped to start paying down its massive debt load this year -- has instead been bleeding cash rapidly. The one piece of real news was that American Airlines plans to fly a little more than 55% of its July 2019 domestic schedule next month, reflecting slow but steady sequential improvements in demand.
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5dac9b4a-cfed-4367-bb93-2d8664c1a6f2
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5763.0
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2020-06-05 00:00:00 UTC
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Businesses Embracing Videoconferencing Adds to Delta Airlines Misery
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AAL
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https://www.nasdaq.com/articles/businesses-embracing-videoconferencing-adds-to-delta-airlines-misery-2020-06-05
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Delta Airlines (NYSE:DAL) might look tempting at first glance. At around $32, DAL stock is trading at levels not seen since 2013. Just months ago, Delta was viewed as the darling of the U.S. airline industry. It had momentum. It avoided the 737 MAX grounding issues that caused headaches for many of its competitors. Business class customers were on the rise. Warren Buffet was buying up DAL shares.
Source: NextNewMedia / Shutterstock.com
What a difference a few months make. Delta stock is currently down 54% from its January 2019 highs. That’s a huge discount, but it’s just not worth the risk.
DAL gets an F-rating in my Portfolio Grader. As for Warren Buffet, he dumped all his airline stocks — including Delta — in May, selling them at a loss. Buffet said at the time:
I don’t know that three, four years from now people will fly as many passenger miles as they did last year.
That move was costly, but the way things are going for air travel, it was the right one. And it’s not just passenger flights that are a question mark. Lucrative business travel may actually be even more resistant to bouncing back.
Video Conferencing Poised to Kill Business Travel
Airlines are highly reliant on business travelers for profits. These passengers pay a premium for booking at the last minute, and their expense accounts cover extras like preferred seating and other perks. Delta had been making moves to lure more business passengers and it was paying off.
Last December, the company reported revenue from business travelers was increasing at double the rate of regular passengers.
Sounds great, but consider this quote:
As preferences and expectations of younger generations entering the workforce take hold, video conferencing will become the new normal over voice calls and will continue to replace costly cross-country or cross-globe travel for in-person meetings.
This is from a 2019 article published in Tech Republic, based on a survey of 1,300 business professionals across a broad range of industries.
Business class tickets may cost 70% more than an economy fare, so you can see why Delta has been pushing to boost that business. However, the convergence of technology, a generation that’s reluctant to drop everything for work, and a recognition of the cost of those business trips was already raising questions. Then the novel coronavirus poured gas on the fire.
The pandemic forced companies to cancel flying for business and adopt video conferencing instead. For many companies, videoconferencing has become the “new normal.”
When (and if) a coronavirus vaccine is found, how many of these companies are going to go back to paying a premium price for flights, plus hotel costs to send employees to meetings? Especially when they are looking to recover from the damage inflicted to their bottom line by the pandemic.
Obviously business travel is not going to end altogether. However, the writing is on the wall when it comes to casually booking a flight whenever a meeting is called.
Bottom Line on DAL Stock
There’s no avoiding the fact that airlines are in trouble. United Airlines (NASDAQ:UAL) is openly warning of “tough times” ahead. American Airlines (NYSE:AAL) investors were already faced with a 50% slump in the value of their shares over the past two years, before the coronavirus pandemic hit. Check my list of “7 Low-Rated Stocks to Sell Before They Drag You Down” and you’ll see a lot of airlines, including Delta.
Delta fell victim to the Great Recession, declaring Chapter 11 in 2005. After emerging from bankruptcy in 2007, DAL stock immediately dropped in value. It took another six years to regain 2007 levels. That was a result of dealing with the aftermath of a recession. This time around Delta has a recession — which could well turn into a full-blown depression — plus the lingering effects of a global pandemic. It’s going to be a tougher slog, and likely a longer one.
DAL stock is currently cheaper than it’s been since 2013, when it finally crawled its way out of the post-bankruptcy morass. As recently as December, analysts were singing the praises of Delta. It may well be the best of bunch among U.S. airlines, but it’s still part of a sector that’s in survival mode. That should be flashing red lights at potential investors.
Unless you are willing to roll the dice and have extraordinary patience, stay away from DAL.
Louis Navellier had an unconventional start, as a grad student who accidentally built a market-beating stock system — with returns rivaling even Warren Buffett. In his latest feat, Louis discovered the “Master Key” to profiting from the biggest tech revolution of this (or any) generation. Louis Navellier may hold some of the aforementioned securities in one or more of his newsletters.
The post Businesses Embracing Videoconferencing Adds to Delta Airlines Misery 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 (NYSE:AAL) investors were already faced with a 50% slump in the value of their shares over the past two years, before the coronavirus pandemic hit. Sounds great, but consider this quote: As preferences and expectations of younger generations entering the workforce take hold, video conferencing will become the new normal over voice calls and will continue to replace costly cross-country or cross-globe travel for in-person meetings. Louis Navellier had an unconventional start, as a grad student who accidentally built a market-beating stock system — with returns rivaling even Warren Buffett.
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American Airlines (NYSE:AAL) investors were already faced with a 50% slump in the value of their shares over the past two years, before the coronavirus pandemic hit. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Delta Airlines (NYSE:DAL) might look tempting at first glance. As for Warren Buffet, he dumped all his airline stocks — including Delta — in May, selling them at a loss.
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American Airlines (NYSE:AAL) investors were already faced with a 50% slump in the value of their shares over the past two years, before the coronavirus pandemic hit. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Delta Airlines (NYSE:DAL) might look tempting at first glance. Video Conferencing Poised to Kill Business Travel Airlines are highly reliant on business travelers for profits.
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American Airlines (NYSE:AAL) investors were already faced with a 50% slump in the value of their shares over the past two years, before the coronavirus pandemic hit. At around $32, DAL stock is trading at levels not seen since 2013. Video Conferencing Poised to Kill Business Travel Airlines are highly reliant on business travelers for profits.
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254c77dd-9611-492e-9bb8-008507a0da22
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5764.0
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2020-06-05 00:00:00 UTC
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Wall St set to open higher on surprise drop in unemployment rate
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AAL
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https://www.nasdaq.com/articles/wall-st-set-to-open-higher-on-surprise-drop-in-unemployment-rate-2020-06-05
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nan
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nan
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By Devik Jain
June 5 (Reuters) - The S&P 500 and Dow Jones indexes were set to jump at the open on Friday after a closely watched report showed a surprise drop in the U.S. unemployment rate, lending weight to hopes of a faster economic rebound from a coronavirus-driven slump.
The unemployment rate unexpectedly fell to 13.3% in May from 14.7% in April and layoffs abated, the Labor Department said on Friday. Economists polled by Reuters had forecast the jobless rate jumping to 19.8%.
Interest-rate sensitive stocks including Bank of America Corp BAC.N, Citigroup Inc C.N and JPMorgan Chase & Co JPM.N jumped between 3.8% and 8.8% as U.S. Treasury yields rose after the data. US/
"This is completely out of expectations," said Subadra Rajappa, head of U.S. rates strategy in Societe Generale, New York.
"This is a tremendously positive step in the right direction, and probably points to a faster recovery, at least in the jobs market, than people had expected."
Wall Street has rebounded sharply from a coronavirus-driven crash in March as investors bet on a revival in business activity following the easing of a nationwide lockdown.
The Nasdaq Composite .IXIC, S&P 500 .SPX and Dow Jones .DJI indexes are now down about 2%, 8%, and 11% from their respective all-time highs.
At 8:56 a.m. ET, Dow e-minis 1YMcv1 were up 630 points, or 2.4%, S&P 500 e-minis EScv1 were up 47.25 points, or 1.52% and Nasdaq 100 e-minis NQcv1 were up 4.75 points, or 0.05%.
Boeing Co BA.N gained 8.0% premarket on hopes of a pickup in air travel a day after American Airlines Group Inc AAL.O and United Airlines UAL.O said they would boost their U.S. flight schedule next month. American Airlines surged 27.3% and United Airlines jumped 20.6%.
Fears of more disruptions from social unrest have also eased in the past two days, with the largely peaceful protests against the killing of a black man in police custody waning into Friday morning and emergency curfews in many cities being lifted.
Vaccine maker Novavax Inc NVAX.O jumped 10% after saying it would receive up to $60 million from the U.S. Department of Defense to fund manufacturing of its COVID-19 vaccine candidate.
Apparel retailer Gap Inc GPS.N gained 2.1% even as it reported a quarterly loss of nearly $1 billion due to coronavirus-induced store closures.
(Reporting by Devik Jain in Bengaluru, additional reporting by Ross Kerber in Boston; Editing by Shounak Dasgupta and Uttaresh.V)
((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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Boeing Co BA.N gained 8.0% premarket on hopes of a pickup in air travel a day after American Airlines Group Inc AAL.O and United Airlines UAL.O said they would boost their U.S. flight schedule next month. By Devik Jain June 5 (Reuters) - The S&P 500 and Dow Jones indexes were set to jump at the open on Friday after a closely watched report showed a surprise drop in the U.S. unemployment rate, lending weight to hopes of a faster economic rebound from a coronavirus-driven slump. Wall Street has rebounded sharply from a coronavirus-driven crash in March as investors bet on a revival in business activity following the easing of a nationwide lockdown.
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Boeing Co BA.N gained 8.0% premarket on hopes of a pickup in air travel a day after American Airlines Group Inc AAL.O and United Airlines UAL.O said they would boost their U.S. flight schedule next month. The Nasdaq Composite .IXIC, S&P 500 .SPX and Dow Jones .DJI indexes are now down about 2%, 8%, and 11% from their respective all-time highs. ET, Dow e-minis 1YMcv1 were up 630 points, or 2.4%, S&P 500 e-minis EScv1 were up 47.25 points, or 1.52% and Nasdaq 100 e-minis NQcv1 were up 4.75 points, or 0.05%.
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Boeing Co BA.N gained 8.0% premarket on hopes of a pickup in air travel a day after American Airlines Group Inc AAL.O and United Airlines UAL.O said they would boost their U.S. flight schedule next month. By Devik Jain June 5 (Reuters) - The S&P 500 and Dow Jones indexes were set to jump at the open on Friday after a closely watched report showed a surprise drop in the U.S. unemployment rate, lending weight to hopes of a faster economic rebound from a coronavirus-driven slump. ET, Dow e-minis 1YMcv1 were up 630 points, or 2.4%, S&P 500 e-minis EScv1 were up 47.25 points, or 1.52% and Nasdaq 100 e-minis NQcv1 were up 4.75 points, or 0.05%.
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Boeing Co BA.N gained 8.0% premarket on hopes of a pickup in air travel a day after American Airlines Group Inc AAL.O and United Airlines UAL.O said they would boost their U.S. flight schedule next month. By Devik Jain June 5 (Reuters) - The S&P 500 and Dow Jones indexes were set to jump at the open on Friday after a closely watched report showed a surprise drop in the U.S. unemployment rate, lending weight to hopes of a faster economic rebound from a coronavirus-driven slump. Interest-rate sensitive stocks including Bank of America Corp BAC.N, Citigroup Inc C.N and JPMorgan Chase & Co JPM.N jumped between 3.8% and 8.8% as U.S. Treasury yields rose after the data.
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7774eba3-eb5a-4d79-aba5-9bf31d42c351
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5765.0
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2020-06-05 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Apple, Novavax, Slack Technologies, Tetraphase
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AAL
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-apple-novavax-slack-technologies-tetraphase-2020-06-05
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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 sharply extended gains on Friday after a closely watched monthly employment report from the Labor Department showed the jobless rate unexpectedly dropped to 13.3% last month from 14.7% in April. (Full Story) .N
At 08:30 ET, Dow e-minis 1YMc1 were up 1.17% at 26,559. S&P 500 e-minis ESc1 were up 1.26% at 3,149.75, while Nasdaq 100 e-minis NQc1 were up 0.42% at 9,666.5. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Hermitage Offshore Services , up 182.6% ** Hertz Global Holdings , up 80.7% ** Qep Resources , up 55.6% The top three NYSE percentage losers premarket .PRPL.NQ: ** Slack Technologies Inc A , down 13.5% ** Xinyuan Real Estate co , down 9.5% ** Carriage Services , down 9.3% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Gordon Pointe Acquisition Corp , up 150.0% ** Foresight Autonomous Holdings , up 145.8% ** Mid-Con Energy Partners LP , up 60.0% The top three Nasdaq percentage losers premarket .PRPL.O: ** Titan Medical Ltd , down 26.8% ** Rosehill Resources Inc , down 20.6% ** Cinedigm Corp , down 19.3% ** Menlo Therapeutics MNLO.O: down 13.6% premarket BUZZ- Drops on stock offering plans ** Gap Inc GPS.N: up 0.5% premarket BUZZ-Street View: The gap between Gap's expensive and cheaper brands continues to widen ** Livongo Health LVGO.O: up 2.2% premarket BUZZ-Cowen initiates with 'outperform' on first-mover advantage ** Slack Technologies WORK.N: down 13.5% premarket BUZZ-Falls on slowing quarterly sales growth ** American Airlines Group AAL.O: up 29.1% premarket ** United Airlines Holdings UAL.O: up 18.0% premarket BUZZ-U.S. airlines cruise higher on plans to ramp up flights in June, July ** Qualcomm Inc QCOM.O: up 1.0% premarket BUZZ-Rosenblatt initiates with 'buy' rating on 5G ramp-up ** Novavax Inc NVAX.O: up 10.1% premarket BUZZ-Rises on U.S. defense funding for COVID-19 vaccine candidate ** ON Semiconductor corp ON.O: up 1.4% premarket BUZZ-Rosenblatt expects margins to rise, initiates with 'buy' ** Apple Inc AAPL.O: up 0.6% premarket BUZZ-Credit Suisse hikes PT on App Store growth ** Kontoor Brands KTB.N: up 6.2% premarket BUZZ-Set to extend rally as Susquehanna upgrades to "positive" ** Exxon Mobil corp XOM.N: up 3.3% premarket ** Chevron Corp CVX.N: up 2.6% premarket BUZZ-Oil & gas stocks: Up as traders await OPEC+ meeting on extending supply cuts ** Broadcom Inc AVGO.O: up 1.7% premarket BUZZ-Street View: Broadcom remains a semiconductor powerhouse ** Tetraphase Pharmaceuticals Inc TTPH.O: up 34.7% premarket BUZZ-Surges after FDA expands label for its antibiotic ** PG&E PCG.N: up 3.2% premarket BUZZ-: RBC casts on doubts over credit rating, cuts PT ** Oxford Immunotec OXFD.O: up 17.3% premarket BUZZ-: KKR, Ampersand Capital buyout offer not sufficient
(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: ** Hermitage Offshore Services , up 182.6% ** Hertz Global Holdings , up 80.7% ** Qep Resources , up 55.6% The top three NYSE percentage losers premarket .PRPL.NQ: ** Slack Technologies Inc A , down 13.5% ** Xinyuan Real Estate co , down 9.5% ** Carriage Services , down 9.3% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Gordon Pointe Acquisition Corp , up 150.0% ** Foresight Autonomous Holdings , up 145.8% ** Mid-Con Energy Partners LP , up 60.0% The top three Nasdaq percentage losers premarket .PRPL.O: ** Titan Medical Ltd , down 26.8% ** Rosehill Resources Inc , down 20.6% ** Cinedigm Corp , down 19.3% ** Menlo Therapeutics MNLO.O: down 13.6% premarket BUZZ- Drops on stock offering plans ** Gap Inc GPS.N: up 0.5% premarket BUZZ-Street View: The gap between Gap's expensive and cheaper brands continues to widen ** Livongo Health LVGO.O: up 2.2% premarket BUZZ-Cowen initiates with 'outperform' on first-mover advantage ** Slack Technologies WORK.N: down 13.5% premarket BUZZ-Falls on slowing quarterly sales growth ** American Airlines Group AAL.O: up 29.1% premarket ** United Airlines Holdings UAL.O: up 18.0% premarket BUZZ-U.S. airlines cruise higher on plans to ramp up flights in June, July ** Qualcomm Inc QCOM.O: up 1.0% premarket BUZZ-Rosenblatt initiates with 'buy' rating on 5G ramp-up ** Novavax Inc NVAX.O: up 10.1% premarket BUZZ-Rises on U.S. defense funding for COVID-19 vaccine candidate ** ON Semiconductor corp ON.O: up 1.4% premarket BUZZ-Rosenblatt expects margins to rise, initiates with 'buy' ** Apple Inc AAPL.O: up 0.6% premarket BUZZ-Credit Suisse hikes PT on App Store growth ** Kontoor Brands KTB.N: up 6.2% premarket BUZZ-Set to extend rally as Susquehanna upgrades to "positive" ** Exxon Mobil corp XOM.N: up 3.3% premarket ** Chevron Corp CVX.N: up 2.6% premarket BUZZ-Oil & gas stocks: Up as traders await OPEC+ meeting on extending supply cuts ** Broadcom Inc AVGO.O: up 1.7% premarket BUZZ-Street View: Broadcom remains a semiconductor powerhouse ** Tetraphase Pharmaceuticals Inc TTPH.O: up 34.7% premarket BUZZ-Surges after FDA expands label for its antibiotic ** PG&E PCG.N: up 3.2% premarket BUZZ-: RBC casts on doubts over credit rating, cuts PT ** Oxford Immunotec OXFD.O: up 17.3% premarket BUZZ-: KKR, Ampersand Capital buyout offer not sufficient (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 sharply extended gains on Friday after a closely watched monthly employment report from the Labor Department showed the jobless rate unexpectedly dropped to 13.3% last month from 14.7% in April. (Full Story) .N At 08:30 ET, Dow e-minis 1YMc1 were up 1.17% at 26,559.
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The top three NYSE percentage gainers premarket .PRPG.NQ: ** Hermitage Offshore Services , up 182.6% ** Hertz Global Holdings , up 80.7% ** Qep Resources , up 55.6% The top three NYSE percentage losers premarket .PRPL.NQ: ** Slack Technologies Inc A , down 13.5% ** Xinyuan Real Estate co , down 9.5% ** Carriage Services , down 9.3% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Gordon Pointe Acquisition Corp , up 150.0% ** Foresight Autonomous Holdings , up 145.8% ** Mid-Con Energy Partners LP , up 60.0% The top three Nasdaq percentage losers premarket .PRPL.O: ** Titan Medical Ltd , down 26.8% ** Rosehill Resources Inc , down 20.6% ** Cinedigm Corp , down 19.3% ** Menlo Therapeutics MNLO.O: down 13.6% premarket BUZZ- Drops on stock offering plans ** Gap Inc GPS.N: up 0.5% premarket BUZZ-Street View: The gap between Gap's expensive and cheaper brands continues to widen ** Livongo Health LVGO.O: up 2.2% premarket BUZZ-Cowen initiates with 'outperform' on first-mover advantage ** Slack Technologies WORK.N: down 13.5% premarket BUZZ-Falls on slowing quarterly sales growth ** American Airlines Group AAL.O: up 29.1% premarket ** United Airlines Holdings UAL.O: up 18.0% premarket BUZZ-U.S. airlines cruise higher on plans to ramp up flights in June, July ** Qualcomm Inc QCOM.O: up 1.0% premarket BUZZ-Rosenblatt initiates with 'buy' rating on 5G ramp-up ** Novavax Inc NVAX.O: up 10.1% premarket BUZZ-Rises on U.S. defense funding for COVID-19 vaccine candidate ** ON Semiconductor corp ON.O: up 1.4% premarket BUZZ-Rosenblatt expects margins to rise, initiates with 'buy' ** Apple Inc AAPL.O: up 0.6% premarket BUZZ-Credit Suisse hikes PT on App Store growth ** Kontoor Brands KTB.N: up 6.2% premarket BUZZ-Set to extend rally as Susquehanna upgrades to "positive" ** Exxon Mobil corp XOM.N: up 3.3% premarket ** Chevron Corp CVX.N: up 2.6% premarket BUZZ-Oil & gas stocks: Up as traders await OPEC+ meeting on extending supply cuts ** Broadcom Inc AVGO.O: up 1.7% premarket BUZZ-Street View: Broadcom remains a semiconductor powerhouse ** Tetraphase Pharmaceuticals Inc TTPH.O: up 34.7% premarket BUZZ-Surges after FDA expands label for its antibiotic ** PG&E PCG.N: up 3.2% premarket BUZZ-: RBC casts on doubts over credit rating, cuts PT ** Oxford Immunotec OXFD.O: up 17.3% premarket BUZZ-: KKR, Ampersand Capital buyout offer not sufficient (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 sharply extended gains on Friday after a closely watched monthly employment report from the Labor Department showed the jobless rate unexpectedly dropped to 13.3% last month from 14.7% in April. S&P 500 e-minis ESc1 were up 1.26% at 3,149.75, while Nasdaq 100 e-minis NQc1 were up 0.42% at 9,666.5.
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The top three NYSE percentage gainers premarket .PRPG.NQ: ** Hermitage Offshore Services , up 182.6% ** Hertz Global Holdings , up 80.7% ** Qep Resources , up 55.6% The top three NYSE percentage losers premarket .PRPL.NQ: ** Slack Technologies Inc A , down 13.5% ** Xinyuan Real Estate co , down 9.5% ** Carriage Services , down 9.3% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Gordon Pointe Acquisition Corp , up 150.0% ** Foresight Autonomous Holdings , up 145.8% ** Mid-Con Energy Partners LP , up 60.0% The top three Nasdaq percentage losers premarket .PRPL.O: ** Titan Medical Ltd , down 26.8% ** Rosehill Resources Inc , down 20.6% ** Cinedigm Corp , down 19.3% ** Menlo Therapeutics MNLO.O: down 13.6% premarket BUZZ- Drops on stock offering plans ** Gap Inc GPS.N: up 0.5% premarket BUZZ-Street View: The gap between Gap's expensive and cheaper brands continues to widen ** Livongo Health LVGO.O: up 2.2% premarket BUZZ-Cowen initiates with 'outperform' on first-mover advantage ** Slack Technologies WORK.N: down 13.5% premarket BUZZ-Falls on slowing quarterly sales growth ** American Airlines Group AAL.O: up 29.1% premarket ** United Airlines Holdings UAL.O: up 18.0% premarket BUZZ-U.S. airlines cruise higher on plans to ramp up flights in June, July ** Qualcomm Inc QCOM.O: up 1.0% premarket BUZZ-Rosenblatt initiates with 'buy' rating on 5G ramp-up ** Novavax Inc NVAX.O: up 10.1% premarket BUZZ-Rises on U.S. defense funding for COVID-19 vaccine candidate ** ON Semiconductor corp ON.O: up 1.4% premarket BUZZ-Rosenblatt expects margins to rise, initiates with 'buy' ** Apple Inc AAPL.O: up 0.6% premarket BUZZ-Credit Suisse hikes PT on App Store growth ** Kontoor Brands KTB.N: up 6.2% premarket BUZZ-Set to extend rally as Susquehanna upgrades to "positive" ** Exxon Mobil corp XOM.N: up 3.3% premarket ** Chevron Corp CVX.N: up 2.6% premarket BUZZ-Oil & gas stocks: Up as traders await OPEC+ meeting on extending supply cuts ** Broadcom Inc AVGO.O: up 1.7% premarket BUZZ-Street View: Broadcom remains a semiconductor powerhouse ** Tetraphase Pharmaceuticals Inc TTPH.O: up 34.7% premarket BUZZ-Surges after FDA expands label for its antibiotic ** PG&E PCG.N: up 3.2% premarket BUZZ-: RBC casts on doubts over credit rating, cuts PT ** Oxford Immunotec OXFD.O: up 17.3% premarket BUZZ-: KKR, Ampersand Capital buyout offer not sufficient (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. (Full Story) .N At 08:30 ET, Dow e-minis 1YMc1 were up 1.17% at 26,559. S&P 500 e-minis ESc1 were up 1.26% at 3,149.75, while Nasdaq 100 e-minis NQc1 were up 0.42% at 9,666.5.
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The top three NYSE percentage gainers premarket .PRPG.NQ: ** Hermitage Offshore Services , up 182.6% ** Hertz Global Holdings , up 80.7% ** Qep Resources , up 55.6% The top three NYSE percentage losers premarket .PRPL.NQ: ** Slack Technologies Inc A , down 13.5% ** Xinyuan Real Estate co , down 9.5% ** Carriage Services , down 9.3% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Gordon Pointe Acquisition Corp , up 150.0% ** Foresight Autonomous Holdings , up 145.8% ** Mid-Con Energy Partners LP , up 60.0% The top three Nasdaq percentage losers premarket .PRPL.O: ** Titan Medical Ltd , down 26.8% ** Rosehill Resources Inc , down 20.6% ** Cinedigm Corp , down 19.3% ** Menlo Therapeutics MNLO.O: down 13.6% premarket BUZZ- Drops on stock offering plans ** Gap Inc GPS.N: up 0.5% premarket BUZZ-Street View: The gap between Gap's expensive and cheaper brands continues to widen ** Livongo Health LVGO.O: up 2.2% premarket BUZZ-Cowen initiates with 'outperform' on first-mover advantage ** Slack Technologies WORK.N: down 13.5% premarket BUZZ-Falls on slowing quarterly sales growth ** American Airlines Group AAL.O: up 29.1% premarket ** United Airlines Holdings UAL.O: up 18.0% premarket BUZZ-U.S. airlines cruise higher on plans to ramp up flights in June, July ** Qualcomm Inc QCOM.O: up 1.0% premarket BUZZ-Rosenblatt initiates with 'buy' rating on 5G ramp-up ** Novavax Inc NVAX.O: up 10.1% premarket BUZZ-Rises on U.S. defense funding for COVID-19 vaccine candidate ** ON Semiconductor corp ON.O: up 1.4% premarket BUZZ-Rosenblatt expects margins to rise, initiates with 'buy' ** Apple Inc AAPL.O: up 0.6% premarket BUZZ-Credit Suisse hikes PT on App Store growth ** Kontoor Brands KTB.N: up 6.2% premarket BUZZ-Set to extend rally as Susquehanna upgrades to "positive" ** Exxon Mobil corp XOM.N: up 3.3% premarket ** Chevron Corp CVX.N: up 2.6% premarket BUZZ-Oil & gas stocks: Up as traders await OPEC+ meeting on extending supply cuts ** Broadcom Inc AVGO.O: up 1.7% premarket BUZZ-Street View: Broadcom remains a semiconductor powerhouse ** Tetraphase Pharmaceuticals Inc TTPH.O: up 34.7% premarket BUZZ-Surges after FDA expands label for its antibiotic ** PG&E PCG.N: up 3.2% premarket BUZZ-: RBC casts on doubts over credit rating, cuts PT ** Oxford Immunotec OXFD.O: up 17.3% premarket BUZZ-: KKR, Ampersand Capital buyout offer not sufficient (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 sharply extended gains on Friday after a closely watched monthly employment report from the Labor Department showed the jobless rate unexpectedly dropped to 13.3% last month from 14.7% in April. (Full Story) .N At 08:30 ET, Dow e-minis 1YMc1 were up 1.17% at 26,559.
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9d7af595-ae7d-4b98-8de4-4122fa62aa4d
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5766.0
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2020-06-05 00:00:00 UTC
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Why in the World Is Hertz Stock Soaring 130%?
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AAL
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https://www.nasdaq.com/articles/why-in-the-world-is-hertz-stock-soaring-130-2020-06-05
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nan
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nan
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What happened?
Shares of Hertz Global Holdings (NYSE: HTZ), a vehicle rental company that recently filed for bankruptcy protection, are soaring more than 130% Friday after a positive May jobs report and optimistic news from the airline industry that suggests the worst is over. However, investors must read and understand Hertz's current situation.
So what
Yes, there's reason for the broader transportation sector to be optimistic, as the May jobs report noted a 2.5 million-entry increase in nonfarm payrolls compared to the expected 7.5 million loss. Further, American Airlines Group said Thursday that it plans to boost flights by 74% next month, giving many investors a signal that it could be time to scoop up shares of beaten-down transportation stocks if the worst of the COVID-19 impact is behind us.
Image source: Getty Images.
Sure, in normal circumstances, the anticipated surge in flights would be good news for Hertz, a company that generates a vast majority of its revenue from consumers traveling to and from airports -- but these are not normal circumstances. Hertz has already filed for bankruptcy protection and is currently in the process of settling with its major secured and unsecured debt holders. Roughly $15 billion of Hertz's total $19 billion debt pile is linked to the financing of its vehicle fleet, and that's what got the company into trouble in the first place. Simply because the company has so much debt to negotiate and satisfy with major lenders, the likely outcome is that regardless of what happens, current shareholders will likely be wiped out and left with nothing of value.
Now what
Traders and investors hoping to speculate on Hertz stock volatility right now are playing a dangerous game with shares that will likely go to zero. The company has time to negotiate and could potentially satisfy remaining debt holders with shares of a new and restructured Hertz company to give them something of value for their debt. Hertz stock has quadrupled since its opening price Wednesday, but long-term investors should watch this from the sidelines; even one of the world's best investors has thrown in the towel.
10 stocks we like better than Hertz Global 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 Hertz Global 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
Daniel Miller 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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Shares of Hertz Global Holdings (NYSE: HTZ), a vehicle rental company that recently filed for bankruptcy protection, are soaring more than 130% Friday after a positive May jobs report and optimistic news from the airline industry that suggests the worst is over. So what Yes, there's reason for the broader transportation sector to be optimistic, as the May jobs report noted a 2.5 million-entry increase in nonfarm payrolls compared to the expected 7.5 million loss. Further, American Airlines Group said Thursday that it plans to boost flights by 74% next month, giving many investors a signal that it could be time to scoop up shares of beaten-down transportation stocks if the worst of the COVID-19 impact is behind us.
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Shares of Hertz Global Holdings (NYSE: HTZ), a vehicle rental company that recently filed for bankruptcy protection, are soaring more than 130% Friday after a positive May jobs report and optimistic news from the airline industry that suggests the worst is over. The company has time to negotiate and could potentially satisfy remaining debt holders with shares of a new and restructured Hertz company to give them something of value for their debt. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
|
Shares of Hertz Global Holdings (NYSE: HTZ), a vehicle rental company that recently filed for bankruptcy protection, are soaring more than 130% Friday after a positive May jobs report and optimistic news from the airline industry that suggests the worst is over. 10 stocks we like better than Hertz Global Holdings 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 Daniel Miller has no position in any of the stocks mentioned.
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Shares of Hertz Global Holdings (NYSE: HTZ), a vehicle rental company that recently filed for bankruptcy protection, are soaring more than 130% Friday after a positive May jobs report and optimistic news from the airline industry that suggests the worst is over. The company has time to negotiate and could potentially satisfy remaining debt holders with shares of a new and restructured Hertz company to give them something of value for their debt. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Hertz Global Holdings wasn't one of them!
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3fc5cb73-b1c5-4c99-914d-73e4c7f68fea
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5767.0
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2020-06-05 00:00:00 UTC
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Consumer Sector Update for 06/05/2020: AAL,CCL,GPS
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AAL
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https://www.nasdaq.com/articles/consumer-sector-update-for-06-05-2020%3A-aalcclgps-2020-06-05
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nan
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nan
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Consumer stocks were mostly higher, with the SPDR Consumer Staples Select Sector ETF climbing 1.6% this afternoon while the SPDR Consumer Discretionary Select Sector ETF was adding 2.9% in value.
In company news, American Airlines Group (AAL) rallied for a second day, Friday rising over 12%. Reuters reported that 14 executives will soon leave the company as part of a broader efforts to trim the size of its senior ranks by about 30%. Another five executive positions will be left unfilled, according to a Reuters report, which obtained memos to American employees explaining the restructuring.
Carnival (CCL) jumped out to a 22% gain. The company's Aida branded cruise liners suspended sailings with connecting ports in the US and Canada through the end of the year because conditions for international travel to the two countries were "not currently in place." The company earlier this week also extended the suspension of operations for its PP&O and Princess lines because of COVID-19 entry restrictions.
The Gap (GPS) turned about 1% higher, reversing a prior decline, after the apparel chain reported a larger-than-expected Q1 net loss while sales tumbled 43% from year-ago levels, also missing Street views, as the COVID-19 pandemic forced store closures beginning in March. Net loss for the three months ended May 2 was $2.51 per share on $2.11 billion in net sales compared with the Capital IQ consensus looking for a $0.34 per share net loss on $2.35 billion in Q1 sales.
The views and 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 Group (AAL) rallied for a second day, Friday rising over 12%. Reuters reported that 14 executives will soon leave the company as part of a broader efforts to trim the size of its senior ranks by about 30%. The company's Aida branded cruise liners suspended sailings with connecting ports in the US and Canada through the end of the year because conditions for international travel to the two countries were "not currently in place."
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In company news, American Airlines Group (AAL) rallied for a second day, Friday rising over 12%. Consumer stocks were mostly higher, with the SPDR Consumer Staples Select Sector ETF climbing 1.6% this afternoon while the SPDR Consumer Discretionary Select Sector ETF was adding 2.9% in value. The Gap (GPS) turned about 1% higher, reversing a prior decline, after the apparel chain reported a larger-than-expected Q1 net loss while sales tumbled 43% from year-ago levels, also missing Street views, as the COVID-19 pandemic forced store closures beginning in March.
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In company news, American Airlines Group (AAL) rallied for a second day, Friday rising over 12%. Reuters reported that 14 executives will soon leave the company as part of a broader efforts to trim the size of its senior ranks by about 30%. The Gap (GPS) turned about 1% higher, reversing a prior decline, after the apparel chain reported a larger-than-expected Q1 net loss while sales tumbled 43% from year-ago levels, also missing Street views, as the COVID-19 pandemic forced store closures beginning in March.
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In company news, American Airlines Group (AAL) rallied for a second day, Friday rising over 12%. Consumer stocks were mostly higher, with the SPDR Consumer Staples Select Sector ETF climbing 1.6% this afternoon while the SPDR Consumer Discretionary Select Sector ETF was adding 2.9% in value. Reuters reported that 14 executives will soon leave the company as part of a broader efforts to trim the size of its senior ranks by about 30%.
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9e8e1cd6-a4ad-4ba8-9a5f-004141854b6b
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5768.0
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2020-06-04 00:00:00 UTC
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Why Boeing Stock Just Popped 6.5%
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AAL
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https://www.nasdaq.com/articles/why-boeing-stock-just-popped-6.5-2020-06-04
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nan
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nan
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What happened
Shares of Boeing (NYSE: BA) stock are up a strong 6.5% at 1:30 p.m. EDT Thursday -- and there could be a couple of reasons for that.
Reason No. 1: As Barron's pointed out this morning, the long-awaited rebound in air travel appears to be happening a bit sooner than expected, with American Airlines (NASDAQ: AAL) reporting that the number of passengers aboard flights in May grew 71% sequentially off of April, and that the airline is hoping to regrow its grounded capacity to about 55% of what it could fly domestically by July.
International flights should be back to 20% of normal as well, by July.
Image source: Amazon.com.
So what
That's the headline that's probably getting the most attention today. After all, the more airlines fly, the more they'll need to service their airplanes, which is good news for Boeing's $18.5 billion Global Services business (24% of total revenue, according to data from S&P Global Market Intelligence). The more flights they fly, too, and the faster they resume flying them, the sooner airlines will need to buy replacement and expansion airplanes from Boeing.
Now what
But there's another reason to be optimistic about Boeing right now. Yesterday, Amazon.com (NASDAQ: AMZN) announced that in order to support all the new business it's been getting since coronavirus arrived on the scene, it will need to lease 12 additional Boeing 767-300 freighter aircraft from Air Transport Services Group (NASDAQ: ATSG). And Amazon is also opening three new air hubs to support its growing fleet.
That's good news for Amazon's business, which is booming -- and it should be good news for Boeing, which builds the airplanes that are helping Amazon grow.
10 stocks we like better than Boeing
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 Boeing 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
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Rich Smith has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon 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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1: As Barron's pointed out this morning, the long-awaited rebound in air travel appears to be happening a bit sooner than expected, with American Airlines (NASDAQ: AAL) reporting that the number of passengers aboard flights in May grew 71% sequentially off of April, and that the airline is hoping to regrow its grounded capacity to about 55% of what it could fly domestically by July. What happened Shares of Boeing (NYSE: BA) stock are up a strong 6.5% at 1:30 p.m. EDT Thursday -- and there could be a couple of reasons for that. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Boeing wasn't one of them!
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1: As Barron's pointed out this morning, the long-awaited rebound in air travel appears to be happening a bit sooner than expected, with American Airlines (NASDAQ: AAL) reporting that the number of passengers aboard flights in May grew 71% sequentially off of April, and that the airline is hoping to regrow its grounded capacity to about 55% of what it could fly domestically by July. After all, the more airlines fly, the more they'll need to service their airplanes, which is good news for Boeing's $18.5 billion Global Services business (24% of total revenue, according to data from S&P Global Market Intelligence). That's good news for Amazon's business, which is booming -- and it should be good news for Boeing, which builds the airplanes that are helping Amazon grow.
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1: As Barron's pointed out this morning, the long-awaited rebound in air travel appears to be happening a bit sooner than expected, with American Airlines (NASDAQ: AAL) reporting that the number of passengers aboard flights in May grew 71% sequentially off of April, and that the airline is hoping to regrow its grounded capacity to about 55% of what it could fly domestically by July. That's good news for Amazon's business, which is booming -- and it should be good news for Boeing, which builds the airplanes that are helping Amazon grow. See the 10 stocks *Stock Advisor returns as of June 2, 2020 John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors.
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1: As Barron's pointed out this morning, the long-awaited rebound in air travel appears to be happening a bit sooner than expected, with American Airlines (NASDAQ: AAL) reporting that the number of passengers aboard flights in May grew 71% sequentially off of April, and that the airline is hoping to regrow its grounded capacity to about 55% of what it could fly domestically by July. That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 2, 2020 John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors.
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c79e08a9-c187-4ac4-ad91-6103f7ecaea0
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5769.0
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2020-06-04 00:00:00 UTC
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eBay, Airline Stocks Lead Nasdaq 100 to New Intraday Record
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AAL
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https://www.nasdaq.com/articles/ebay-airline-stocks-lead-nasdaq-100-to-new-intraday-record-2020-06-04
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nan
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nan
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The stock market's recovery from the bear market in late February and March has been extraordinary, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) has seen especially impressive gains. The Nasdaq 100 index of top Nasdaq stocks actually briefly moved into all-time record territory Thursday morning -- an enthusiastic response to prospects for a successful economic reopening. However, the market couldn't hold onto those gains, and the Nasdaq Composite finished the day down around 0.7%.
Even with the pullback, a couple of Nasdaq 100 stocks were especially strong. eBay (NASDAQ: EBAY) offered investors a positive reading on its e-commerce business, while airlines like United Airlines Holdings (NASDAQ: UAL) continued to move higher on hopes that they'll be able to find ways to be profitable and build a sustainable, long-term business model in a post-coronavirus world.
A brighter outlook for eBay
Shares of eBay rose 6% on Thursday following the online marketplace's latest read on its second-quarter financial results. The company has seen stronger sales volume than it initially expected, and that has shareholders excited about what eBay is accomplishing even in the middle of the coronavirus pandemic.
Image source: eBay.
eBay now expects second-quarter gross merchandise volume growth of between 23% and 26%, based on strong readings it's seen in both April and May. The company said all of its major categories are doing well, highlighting home and garden, electronics, fashion, auto parts, and collectibles. In addition, eBay is finding success with multiple avenues for boosting demand, including stronger organic traffic, and more effective marketing and platform-conversion efforts.
eBay is also seeing more users. On the buyer side, the company said it's brought in 6 million new and reactivated buyers in April and May. On the seller side, tens of thousands of small businesses have signed up to sell on eBay.
With similarly upped guidance on earnings and revenue, eBay looks poised to deliver a positive surprise when it announces its results formally in late July. That sent the stock to new highs, and there could be more gains ahead if the company can keep getting its share of e-commerce business.
No stall here
Shares of airline stocks did even better, with United Airlines Holdings rising 16% and American Airlines Group (NASDAQ: AAL) seeing gains of more than 40%. After having gotten beaten up badly, investors are pleased to see that airline companies are trying to get things back to normal.
American's big gain came as the airline said that it was going to expand its summer flight schedule. With many of those following the industry predicting that air travel would remain at severely depressed levels for much of the rest of the year, American expects to fly 55% of its domestic routes and 20% of its international routes in July.
Also helping airline stocks was relief on the regulatory front. The U.S. Department of Transportation granted requests to more than a dozen airlines that will allow them to stop serving 75 markets due to weak demand. Ordinarily, airlines would have to maintain minimum service levels in order to get financial assistance from the government, but the approval will allow them to cut costs and preserve service on more profitable routes.
Airline stocks still have a long way to go before they recover fully, and it's far from clear what changes will be needed within the industry to survive and adapt. Nevertheless, investors are optimistic today, and they're hoping that airline companies will do what it takes to keep getting stronger.
10 stocks we like better than eBay
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 eBay 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 eBay and recommends the following options: long January 2021 $18 calls on eBay and short January 2021 $37 calls on eBay. 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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No stall here Shares of airline stocks did even better, with United Airlines Holdings rising 16% and American Airlines Group (NASDAQ: AAL) seeing gains of more than 40%. The company has seen stronger sales volume than it initially expected, and that has shareholders excited about what eBay is accomplishing even in the middle of the coronavirus pandemic. In addition, eBay is finding success with multiple avenues for boosting demand, including stronger organic traffic, and more effective marketing and platform-conversion efforts.
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No stall here Shares of airline stocks did even better, with United Airlines Holdings rising 16% and American Airlines Group (NASDAQ: AAL) seeing gains of more than 40%. eBay (NASDAQ: EBAY) offered investors a positive reading on its e-commerce business, while airlines like United Airlines Holdings (NASDAQ: UAL) continued to move higher on hopes that they'll be able to find ways to be profitable and build a sustainable, long-term business model in a post-coronavirus world. The Motley Fool recommends eBay and recommends the following options: long January 2021 $18 calls on eBay and short January 2021 $37 calls on eBay.
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No stall here Shares of airline stocks did even better, with United Airlines Holdings rising 16% and American Airlines Group (NASDAQ: AAL) seeing gains of more than 40%. eBay (NASDAQ: EBAY) offered investors a positive reading on its e-commerce business, while airlines like United Airlines Holdings (NASDAQ: UAL) continued to move higher on hopes that they'll be able to find ways to be profitable and build a sustainable, long-term business model in a post-coronavirus world. The Motley Fool recommends eBay and recommends the following options: long January 2021 $18 calls on eBay and short January 2021 $37 calls on eBay.
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No stall here Shares of airline stocks did even better, with United Airlines Holdings rising 16% and American Airlines Group (NASDAQ: AAL) seeing gains of more than 40%. eBay now expects second-quarter gross merchandise volume growth of between 23% and 26%, based on strong readings it's seen in both April and May. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and eBay wasn't one of them!
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a8dc23df-89ab-448a-82b0-c582aa3def47
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5770.0
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2020-06-04 00:00:00 UTC
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Global airlines add flights; U.S. carriers target the great outdoors
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AAL
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https://www.nasdaq.com/articles/global-airlines-add-flights-u.s.-carriers-target-the-great-outdoors-2020-06-04
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nan
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nan
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By Tracy Rucinski
CHICAGO, June 4 (Reuters) - Airlines from America to Australia are ramping up flights in June and July, boosting hopes for a pickup in tourist traffic even as bigger-spending business and global travel remains sluggish during the ongoing pandemic.
American Airlines AAL.O and United Airlines UAL.O each announced more flights to key U.S. business and leisure destinations where national parks and outdoor recreational spaces are reopening after months of lockdowns and travel curbs, sending their shares sharply higher.
Chicago-based United is adding more non-stop flights as well as servicing markets like Aspen, Colorado and Jackson Hole, Wyoming where it said "social distancing is a natural feature" in the scenic landscapes.
"Leisure travel has been the most missed activity during lockdown across age and income demographics, even more so than things like restaurants," said Jason Guggenheim of Boston Consulting Group, which has surveyed consumers in the United States and Europe.
"But it's going to take business travel longer to come back," he said, noting work-from-home models will remain in place for some time.
Even with the schedule increases, analysts expect overall U.S. airline capacity will remain drastically lower this year; and without business travel, yields will likely remain negative, they said. Yield is the revenue an airline makes per mile flown.
Australia's Qantas Airways Ltd QAN.AX and Air New Zealand Ltd AIR.NZ outlined plans on Thursday for significant boosts to domestic capacity, while Emirates and Etihad Airways are restarting transit flights through hub airports in Abu Dhabi and Dubai.
In Europe, Iberia - part of the International Consolidated Airlines Group ICAG.L - told customers on Thursday it is starting a schedule of regular flights from Spain in July as a first step to building back a full service.
(Reporting by Tracy Rucinski; Editing by Richard Chang)
((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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American Airlines AAL.O and United Airlines UAL.O each announced more flights to key U.S. business and leisure destinations where national parks and outdoor recreational spaces are reopening after months of lockdowns and travel curbs, sending their shares sharply higher. Chicago-based United is adding more non-stop flights as well as servicing markets like Aspen, Colorado and Jackson Hole, Wyoming where it said "social distancing is a natural feature" in the scenic landscapes. "Leisure travel has been the most missed activity during lockdown across age and income demographics, even more so than things like restaurants," said Jason Guggenheim of Boston Consulting Group, which has surveyed consumers in the United States and Europe.
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American Airlines AAL.O and United Airlines UAL.O each announced more flights to key U.S. business and leisure destinations where national parks and outdoor recreational spaces are reopening after months of lockdowns and travel curbs, sending their shares sharply higher. By Tracy Rucinski CHICAGO, June 4 (Reuters) - Airlines from America to Australia are ramping up flights in June and July, boosting hopes for a pickup in tourist traffic even as bigger-spending business and global travel remains sluggish during the ongoing pandemic. Even with the schedule increases, analysts expect overall U.S. airline capacity will remain drastically lower this year; and without business travel, yields will likely remain negative, they said.
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American Airlines AAL.O and United Airlines UAL.O each announced more flights to key U.S. business and leisure destinations where national parks and outdoor recreational spaces are reopening after months of lockdowns and travel curbs, sending their shares sharply higher. By Tracy Rucinski CHICAGO, June 4 (Reuters) - Airlines from America to Australia are ramping up flights in June and July, boosting hopes for a pickup in tourist traffic even as bigger-spending business and global travel remains sluggish during the ongoing pandemic. Even with the schedule increases, analysts expect overall U.S. airline capacity will remain drastically lower this year; and without business travel, yields will likely remain negative, they said.
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American Airlines AAL.O and United Airlines UAL.O each announced more flights to key U.S. business and leisure destinations where national parks and outdoor recreational spaces are reopening after months of lockdowns and travel curbs, sending their shares sharply higher. By Tracy Rucinski CHICAGO, June 4 (Reuters) - Airlines from America to Australia are ramping up flights in June and July, boosting hopes for a pickup in tourist traffic even as bigger-spending business and global travel remains sluggish during the ongoing pandemic. Chicago-based United is adding more non-stop flights as well as servicing markets like Aspen, Colorado and Jackson Hole, Wyoming where it said "social distancing is a natural feature" in the scenic landscapes.
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fd1c31ad-a41e-4740-9c85-cbbb187b7037
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5771.0
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2020-06-04 00:00:00 UTC
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Consumer Sector Update for 06/04/2020: AN,CIDM,AAL,MIK
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AAL
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https://www.nasdaq.com/articles/consumer-sector-update-for-06-04-2020%3A-ancidmaalmik-2020-06-04
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nan
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nan
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Consumer stocks lost more ground heading into Thursday's close, with the SPDR Consumer Staples Select Sector ETF slipping 1.0% this afternoon while the SPDR Consumer Discretionary Select Sector ETF also was dropping 1.0%, giving back an earlier advance.
In company news, AutoNation (AN) slid almost 2% on Thursday following reports the vehicle seller will permanently idle around 3,500 employees, or roughly half of the 7,000 workers it furloughed in April as the coronavirus pandemic put the brakes on auto sales. The company's chief customer experience officer, Marc Cannon, told Automotive News the layoffs follow strategic adjustments at AutoNation to "capitalize on the digital marketing and website actions. As a result, we have made the difficult decision to eliminate approximately 3,500 positions in the field and at headquarters."
Cinedigm (CIDM) rallied Thursday, rising 172% in recent trade after the television and movie distributor announced a new partnership with Vewd making its streaming networks available on more than 300 million Vewd-enabled smart TVs and connected devices worldwide. Financial terms were not disclosed.
American Airlines Group (AAL) rose almost 41% after the carrier Thursday said it will fly 55% of its domestic schedule and 20% of its international schedule during July compared with year-ago levels amid rising demand for air travel. It also reported flying an average of 110,000 passengers per day during the final week in May, up 71% over its April average. Other airline stocks also advanced.
Michaels Cos. (MIK) was 7% higher, reversing a more than 9% decline earlier Thursday that followed the retailer reporting an adjusted loss of $0.43 per share for its fiscal Q1 compared with a $0.31 per share adjusted profit during the year-ago period while analysts had been looking for the company to earn $0.14 per share, excluding one-time items.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group (AAL) rose almost 41% after the carrier Thursday said it will fly 55% of its domestic schedule and 20% of its international schedule during July compared with year-ago levels amid rising demand for air travel. In company news, AutoNation (AN) slid almost 2% on Thursday following reports the vehicle seller will permanently idle around 3,500 employees, or roughly half of the 7,000 workers it furloughed in April as the coronavirus pandemic put the brakes on auto sales. The company's chief customer experience officer, Marc Cannon, told Automotive News the layoffs follow strategic adjustments at AutoNation to "capitalize on the digital marketing and website actions.
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American Airlines Group (AAL) rose almost 41% after the carrier Thursday said it will fly 55% of its domestic schedule and 20% of its international schedule during July compared with year-ago levels amid rising demand for air travel. Consumer stocks lost more ground heading into Thursday's close, with the SPDR Consumer Staples Select Sector ETF slipping 1.0% this afternoon while the SPDR Consumer Discretionary Select Sector ETF also was dropping 1.0%, giving back an earlier advance. In company news, AutoNation (AN) slid almost 2% on Thursday following reports the vehicle seller will permanently idle around 3,500 employees, or roughly half of the 7,000 workers it furloughed in April as the coronavirus pandemic put the brakes on auto sales.
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American Airlines Group (AAL) rose almost 41% after the carrier Thursday said it will fly 55% of its domestic schedule and 20% of its international schedule during July compared with year-ago levels amid rising demand for air travel. Consumer stocks lost more ground heading into Thursday's close, with the SPDR Consumer Staples Select Sector ETF slipping 1.0% this afternoon while the SPDR Consumer Discretionary Select Sector ETF also was dropping 1.0%, giving back an earlier advance. Michaels Cos. (MIK) was 7% higher, reversing a more than 9% decline earlier Thursday that followed the retailer reporting an adjusted loss of $0.43 per share for its fiscal Q1 compared with a $0.31 per share adjusted profit during the year-ago period while analysts had been looking for the company to earn $0.14 per share, excluding one-time items.
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American Airlines Group (AAL) rose almost 41% after the carrier Thursday said it will fly 55% of its domestic schedule and 20% of its international schedule during July compared with year-ago levels amid rising demand for air travel. Consumer stocks lost more ground heading into Thursday's close, with the SPDR Consumer Staples Select Sector ETF slipping 1.0% this afternoon while the SPDR Consumer Discretionary Select Sector ETF also was dropping 1.0%, giving back an earlier advance. In company news, AutoNation (AN) slid almost 2% on Thursday following reports the vehicle seller will permanently idle around 3,500 employees, or roughly half of the 7,000 workers it furloughed in April as the coronavirus pandemic put the brakes on auto sales.
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12e382cc-f5a3-4ec4-b3cf-76f58bc63cb4
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5772.0
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2020-06-04 00:00:00 UTC
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S&P 500 closes down, snapping four-day rally
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AAL
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https://www.nasdaq.com/articles/sp-500-closes-down-snapping-four-day-rally-2020-06-04
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nan
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nan
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By Stephen Culp
June 4 (Reuters) - The S&P 500 lost ground on Thursday as investors took profits in advance of Friday's jobs report, ending a four-day rally driven by rising economic sentiment.
The Nasdaq joined the S&P 500 in negative territory, while the blue-chip Dow posted a nominal gain.
"We were pretty overvalued going into this week," said Chris Zaccarelli, chief investment officer, Independent Advisor Alliance, Charlotte, NC. "It's not surprising to see a pullback."
The market has shown remarkable resilience since its late March plunge, and the Nasdaq, S&P 500 and Dow remain within 3%, 9% and 12% of their respective record highs reached in February.
"This market has gone up so far so fast there's a lot of people saying, 'I'm going to take a little profit,'" said Jim Paulson, chief investment strategist at The Leuthold Group in Minneapolis.
Economic data showed the number of Americans filing for unemployment benefits dipped below 2 million for the first time since mid-March, and plummeting international commerce resulted in a net widening of the U.S. trade gap.
Friday's much-anticipated jobs report from the Labor Department is expected to show the U.S. unemployment rate sky-rocketing to a historic 19.7%.
Violent protests overnight against the death of George Floyd appeared to abate as prosecutors brought new charges against the officers implicated in the killing.
The European Central Bank approved a stimulus package that surpassed expectations, nearly doubling the size of its Pandemic Emergency Purchase Plan to 1.35 trillion Euros.
Its American counterpart, the U.S. Federal Reserve, is due to meet next week for its two-day policy meeting.
Unofficially, the Dow Jones Industrial Average .DJI rose 0.04% to end at 26,281.61 points, while the S&P 500 .SPX lost 0.34% to 3,112.33.
The Nasdaq Composite .IXIC dropped 0.69%, to 9,615.81.
American Airlines Group Inc AAL.O announced it would beef up its flight schedule in July to 55% of its year-ago capacity as the U.S. economy reopens, sending its shares soaring.
The hard-hit ARCA Airline index .XAL also jumped on the news.
Global online commerce platform EBay Inc EBAY.O advanced after raising current quarter forecasts due to a surge in customer orders.
The Department of Justice gave anti-trust approval for Charles Schwab Corp's SCHW.N purchase of TD Ameritrade Holding Corp AMTD.O.
Shares of J.M. Smucker Co SJM.N fell after the packaged food company forecast a decline in full-year sales.
(Reporting by Stephen Culp; additonal reporting by Sinead Carew; Editing by Cynthia Osterman)
((stephen.culp@thomsonreuters.com; 646-223-6076;))
The views and 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 announced it would beef up its flight schedule in July to 55% of its year-ago capacity as the U.S. economy reopens, sending its shares soaring. By Stephen Culp June 4 (Reuters) - The S&P 500 lost ground on Thursday as investors took profits in advance of Friday's jobs report, ending a four-day rally driven by rising economic sentiment. Economic data showed the number of Americans filing for unemployment benefits dipped below 2 million for the first time since mid-March, and plummeting international commerce resulted in a net widening of the U.S. trade gap.
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American Airlines Group Inc AAL.O announced it would beef up its flight schedule in July to 55% of its year-ago capacity as the U.S. economy reopens, sending its shares soaring. By Stephen Culp June 4 (Reuters) - The S&P 500 lost ground on Thursday as investors took profits in advance of Friday's jobs report, ending a four-day rally driven by rising economic sentiment. Friday's much-anticipated jobs report from the Labor Department is expected to show the U.S. unemployment rate sky-rocketing to a historic 19.7%.
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American Airlines Group Inc AAL.O announced it would beef up its flight schedule in July to 55% of its year-ago capacity as the U.S. economy reopens, sending its shares soaring. By Stephen Culp June 4 (Reuters) - The S&P 500 lost ground on Thursday as investors took profits in advance of Friday's jobs report, ending a four-day rally driven by rising economic sentiment. (Reporting by Stephen Culp; additonal reporting by Sinead Carew; Editing by Cynthia Osterman) ((stephen.culp@thomsonreuters.com; 646-223-6076;)) The views and 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 announced it would beef up its flight schedule in July to 55% of its year-ago capacity as the U.S. economy reopens, sending its shares soaring. By Stephen Culp June 4 (Reuters) - The S&P 500 lost ground on Thursday as investors took profits in advance of Friday's jobs report, ending a four-day rally driven by rising economic sentiment. The Nasdaq joined the S&P 500 in negative territory, while the blue-chip Dow posted a nominal gain.
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342df476-b671-4644-8315-7b06b150442e
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5773.0
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2020-06-04 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE- Cinedigm, Ebay Inc, Anavex
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AAL
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-cinedigm-ebay-inc-anavex-2020-06-04
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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 indices,S&P 500 and Nasdaq edged lower in choppy trading on Thursday, as a rally fueled by hopes of a post-coronavirus economic recovery fizzled out even with weekly jobless claims dipping below 2 million for the first time since mid-March..N
At 11:30 ET, the Dow Jones Industrial Average .DJI was down 0.01% at 26,267.22. The S&P 500 .SPX was down 0.29% at 3,113.76 and the Nasdaq Composite .IXIC was down 0.44% at 9,639.846. The top three S&P 500 .PG.INX percentage gainers: ** American Airlines Group , up 24.3% ** United Airlines Holding , up 13% ** Delta Air Lines , up 10.3% The top three S&P 500 .PL.INX percentage losers: ** Dexcom , down 5.3% ** Marketaxess Holdings , down 4% ** J M Smucker , down 3.7% The top three NYSE .PG.N percentage gainers: ** Ashford Inc , up 37.2% ** Medley Llc , up 31.9% ** Seacor Marine Holding , up 26.4% The top three NYSE .PL.N percentage losers: ** Empire State Realty , down 44.6% ** Smartsheet Inc , down 22.3% ** Navios Maritime , down 13% The top three Nasdaq .PG.O percentage gainers: ** Rosehill Resources , up 215.7% ** Cinedigm Corp , up 172.9% ** Kezar Life Sciences , up 108.5% The top three Nasdaq .PL.O percentage losers: ** Cassava Sciences Inc , down 23.7% ** Summit Wireless Technologies , down 21.3% ** Fsd Pharma , down 19.1% ** Goldman Sachs Group Inc GS.N: up 0.6% ** JPMorgan Chase & Co JPM.N: up 1.3% ** Citigroup Inc C.N: up 1.7% ** Wells Fargo & Co WFC.N: up 3.5% ** Bank of America BAC.N: up 2.0% ** Morgan Stanley MS.N: up 1.6%
BUZZ-U.S. big banks rise as yields tick up on European stimulus, U.S. jobs report ** Cinedigm Corp CIDM.O: up 172.9%
BUZZ-Eyes best day ever on deal for OTT channel distribution ** Autodesk Inc ADSK.O: down 0.2%
BUZZ-Brokerages hike PT on rising demand from construction industry ** Aldeyra Therapeutics ALDX.O: up 3.4%
BUZZ-Gains on FDA agreement for eye disease treatment ** Ebay Inc EBAY.O: up 6.2%
BUZZ-:Hits record high on upbeat Q2 outlook ** G-III Apparel Group GIII.O: up 10.2%
BUZZ-Jumps on plan to cut losses with store closures ** Alpine Income Property PINE.N: up 1.1%
BUZZ-:Rises as BTIG starts coverage with 'buy' ** Charles Schwab SCHW.N: up 1.6% ** TD Ameritrade Holding Corp AMTD.O: up 4.7%
BUZZ-Charles Schwab, TD Ameritrade rise after all-stock deal gets DOJ approval ** American Airlines AAL.O: up 24.3%
BUZZ-Soars on plans to boost flights in July as economy reopens ** Anavex Life Sciences AVXL.O: up 7.3%
BUZZ-Anavex rises on approval to expand Alzheimer's study to Canada, UK ** Cloudera Inc CLDR.N: down 12.2%
BUZZ-Drops on downbeat revenue forecast ** Royal Caribbean Cruises RCL.N: up 0.7%
BUZZ-Falls co launches $2 bln convertible, notes offerings ** J M Smucker co SJM.N: down 3.7%
BUZZ-Falls on gloomy fiscal 2021 sales forecast ** Kirkland's Inc KIRK.O: down 12.1%
BUZZ-Falls as Q1 adjusted loss widens on coronavirus-led store closures ** Planet Fitness PLNT.N: down 3.0%
BUZZ-Falls as Raymond James downgrades on stretched valuation ** Smartsheet Inc SMAR.N: down 22.3%
BUZZ-Sinks, analysts say sell-off overdone ** NMI Holdings Inc NMIH.O: down 1.0%
BUZZ-Falls after pricing $200 mln stock offering ** Nio Inc NIO.N: up 7.1%
BUZZ-Gains on "record" May deliveries ** BioXcel Therapeutics Inc BTAI.O: up 11.6%
BUZZ-Guggenheim starts coverage with 'buy' ** Freeport-McMoRan Inc FCX.N: up 0.4%
BUZZ-: Jefferies sees stock doubling next year amid global recovery ** Sabre Corp SABR.O: up 1.9%
BUZZ-Rises on plans to cut 800 jobs ** Michaels Companies Inc MIK.O: down 3.4%
BUZZ- : Drops on surprise quarterly loss due to virus hit ** JinkoSolar Holding Co JKS.N: up 4.5%
BUZZ-: Jumps on favorable decision in U.S. ITC patent investigation
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
down 0.48%
Consumer Discretionary
.SPLRCD
down 0.24%
Consumer Staples
.SPLRCS
down 0.18%
Energy
.SPNY
down 0.75%
Financial
.SPSY
up 0.87%
Health
.SPXHC
down 0.69%
Industrial
.SPLRCI
up 0.50%
Information Technology
.SPLRCT
down 0.50%
Materials
.SPLRCM
up 0.11%
Real Estate
.SPLRCR
down 1.42%
Utilities
.SPLRCU
down 1.01%
(Reporting 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: ** American Airlines Group , up 24.3% ** United Airlines Holding , up 13% ** Delta Air Lines , up 10.3% The top three S&P 500 .PL.INX percentage losers: ** Dexcom , down 5.3% ** Marketaxess Holdings , down 4% ** J M Smucker , down 3.7% The top three NYSE .PG.N percentage gainers: ** Ashford Inc , up 37.2% ** Medley Llc , up 31.9% ** Seacor Marine Holding , up 26.4% The top three NYSE .PL.N percentage losers: ** Empire State Realty , down 44.6% ** Smartsheet Inc , down 22.3% ** Navios Maritime , down 13% The top three Nasdaq .PG.O percentage gainers: ** Rosehill Resources , up 215.7% ** Cinedigm Corp , up 172.9% ** Kezar Life Sciences , up 108.5% The top three Nasdaq .PL.O percentage losers: ** Cassava Sciences Inc , down 23.7% ** Summit Wireless Technologies , down 21.3% ** Fsd Pharma , down 19.1% ** Goldman Sachs Group Inc GS.N: up 0.6% ** JPMorgan Chase & Co JPM.N: up 1.3% ** Citigroup Inc C.N: up 1.7% ** Wells Fargo & Co WFC.N: up 3.5% ** Bank of America BAC.N: up 2.0% ** Morgan Stanley MS.N: up 1.6% BUZZ-U.S. big banks rise as yields tick up on European stimulus, U.S. jobs report ** Cinedigm Corp CIDM.O: up 172.9% BUZZ-Eyes best day ever on deal for OTT channel distribution ** Autodesk Inc ADSK.O: down 0.2% BUZZ-Brokerages hike PT on rising demand from construction industry ** Aldeyra Therapeutics ALDX.O: up 3.4% BUZZ-Gains on FDA agreement for eye disease treatment ** Ebay Inc EBAY.O: up 6.2% BUZZ-:Hits record high on upbeat Q2 outlook ** G-III Apparel Group GIII.O: up 10.2% BUZZ-Jumps on plan to cut losses with store closures ** Alpine Income Property PINE.N: up 1.1% BUZZ-:Rises as BTIG starts coverage with 'buy' ** Charles Schwab SCHW.N: up 1.6% ** TD Ameritrade Holding Corp AMTD.O: up 4.7% BUZZ-Charles Schwab, TD Ameritrade rise after all-stock deal gets DOJ approval ** American Airlines AAL.O: up 24.3% BUZZ-Soars on plans to boost flights in July as economy reopens ** Anavex Life Sciences AVXL.O: up 7.3% BUZZ-Anavex rises on approval to expand Alzheimer's study to Canada, UK ** Cloudera Inc CLDR.N: down 12.2% BUZZ-Drops on downbeat revenue forecast ** Royal Caribbean Cruises RCL.N: up 0.7% BUZZ-Falls co launches $2 bln convertible, notes offerings ** J M Smucker co SJM.N: down 3.7% BUZZ-Falls on gloomy fiscal 2021 sales forecast ** Kirkland's Inc KIRK.O: down 12.1% BUZZ-Falls as Q1 adjusted loss widens on coronavirus-led store closures ** Planet Fitness PLNT.N: down 3.0% BUZZ-Falls as Raymond James downgrades on stretched valuation ** Smartsheet Inc SMAR.N: down 22.3% BUZZ-Sinks, analysts say sell-off overdone ** NMI Holdings Inc NMIH.O: down 1.0% BUZZ-Falls after pricing $200 mln stock offering ** Nio Inc NIO.N: up 7.1% BUZZ-Gains on "record" May deliveries ** BioXcel Therapeutics Inc BTAI.O: up 11.6% BUZZ-Guggenheim starts coverage with 'buy' ** Freeport-McMoRan Inc FCX.N: up 0.4% BUZZ-: Jefferies sees stock doubling next year amid global recovery ** Sabre Corp SABR.O: up 1.9% BUZZ-Rises on plans to cut 800 jobs ** Michaels Companies Inc MIK.O: down 3.4% BUZZ- : Drops on surprise quarterly loss due to virus hit ** JinkoSolar Holding Co JKS.N: up 4.5% BUZZ-: Jumps on favorable decision in U.S. ITC patent investigation 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 indices,S&P 500 and Nasdaq edged lower in choppy trading on Thursday, as a rally fueled by hopes of a post-coronavirus economic recovery fizzled out even with weekly jobless claims dipping below 2 million for the first time since mid-March..N At 11:30 ET, the Dow Jones Industrial Average .DJI was down 0.01% at 26,267.22. down 1.01% (Reporting 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: ** American Airlines Group , up 24.3% ** United Airlines Holding , up 13% ** Delta Air Lines , up 10.3% The top three S&P 500 .PL.INX percentage losers: ** Dexcom , down 5.3% ** Marketaxess Holdings , down 4% ** J M Smucker , down 3.7% The top three NYSE .PG.N percentage gainers: ** Ashford Inc , up 37.2% ** Medley Llc , up 31.9% ** Seacor Marine Holding , up 26.4% The top three NYSE .PL.N percentage losers: ** Empire State Realty , down 44.6% ** Smartsheet Inc , down 22.3% ** Navios Maritime , down 13% The top three Nasdaq .PG.O percentage gainers: ** Rosehill Resources , up 215.7% ** Cinedigm Corp , up 172.9% ** Kezar Life Sciences , up 108.5% The top three Nasdaq .PL.O percentage losers: ** Cassava Sciences Inc , down 23.7% ** Summit Wireless Technologies , down 21.3% ** Fsd Pharma , down 19.1% ** Goldman Sachs Group Inc GS.N: up 0.6% ** JPMorgan Chase & Co JPM.N: up 1.3% ** Citigroup Inc C.N: up 1.7% ** Wells Fargo & Co WFC.N: up 3.5% ** Bank of America BAC.N: up 2.0% ** Morgan Stanley MS.N: up 1.6% BUZZ-U.S. big banks rise as yields tick up on European stimulus, U.S. jobs report ** Cinedigm Corp CIDM.O: up 172.9% BUZZ-Eyes best day ever on deal for OTT channel distribution ** Autodesk Inc ADSK.O: down 0.2% BUZZ-Brokerages hike PT on rising demand from construction industry ** Aldeyra Therapeutics ALDX.O: up 3.4% BUZZ-Gains on FDA agreement for eye disease treatment ** Ebay Inc EBAY.O: up 6.2% BUZZ-:Hits record high on upbeat Q2 outlook ** G-III Apparel Group GIII.O: up 10.2% BUZZ-Jumps on plan to cut losses with store closures ** Alpine Income Property PINE.N: up 1.1% BUZZ-:Rises as BTIG starts coverage with 'buy' ** Charles Schwab SCHW.N: up 1.6% ** TD Ameritrade Holding Corp AMTD.O: up 4.7% BUZZ-Charles Schwab, TD Ameritrade rise after all-stock deal gets DOJ approval ** American Airlines AAL.O: up 24.3% BUZZ-Soars on plans to boost flights in July as economy reopens ** Anavex Life Sciences AVXL.O: up 7.3% BUZZ-Anavex rises on approval to expand Alzheimer's study to Canada, UK ** Cloudera Inc CLDR.N: down 12.2% BUZZ-Drops on downbeat revenue forecast ** Royal Caribbean Cruises RCL.N: up 0.7% BUZZ-Falls co launches $2 bln convertible, notes offerings ** J M Smucker co SJM.N: down 3.7% BUZZ-Falls on gloomy fiscal 2021 sales forecast ** Kirkland's Inc KIRK.O: down 12.1% BUZZ-Falls as Q1 adjusted loss widens on coronavirus-led store closures ** Planet Fitness PLNT.N: down 3.0% BUZZ-Falls as Raymond James downgrades on stretched valuation ** Smartsheet Inc SMAR.N: down 22.3% BUZZ-Sinks, analysts say sell-off overdone ** NMI Holdings Inc NMIH.O: down 1.0% BUZZ-Falls after pricing $200 mln stock offering ** Nio Inc NIO.N: up 7.1% BUZZ-Gains on "record" May deliveries ** BioXcel Therapeutics Inc BTAI.O: up 11.6% BUZZ-Guggenheim starts coverage with 'buy' ** Freeport-McMoRan Inc FCX.N: up 0.4% BUZZ-: Jefferies sees stock doubling next year amid global recovery ** Sabre Corp SABR.O: up 1.9% BUZZ-Rises on plans to cut 800 jobs ** Michaels Companies Inc MIK.O: down 3.4% BUZZ- : Drops on surprise quarterly loss due to virus hit ** JinkoSolar Holding Co JKS.N: up 4.5% BUZZ-: Jumps on favorable decision in U.S. ITC patent investigation 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 indices,S&P 500 and Nasdaq edged lower in choppy trading on Thursday, as a rally fueled by hopes of a post-coronavirus economic recovery fizzled out even with weekly jobless claims dipping below 2 million for the first time since mid-March..N At 11:30 ET, the Dow Jones Industrial Average .DJI was down 0.01% at 26,267.22. down 1.01% (Reporting 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: ** American Airlines Group , up 24.3% ** United Airlines Holding , up 13% ** Delta Air Lines , up 10.3% The top three S&P 500 .PL.INX percentage losers: ** Dexcom , down 5.3% ** Marketaxess Holdings , down 4% ** J M Smucker , down 3.7% The top three NYSE .PG.N percentage gainers: ** Ashford Inc , up 37.2% ** Medley Llc , up 31.9% ** Seacor Marine Holding , up 26.4% The top three NYSE .PL.N percentage losers: ** Empire State Realty , down 44.6% ** Smartsheet Inc , down 22.3% ** Navios Maritime , down 13% The top three Nasdaq .PG.O percentage gainers: ** Rosehill Resources , up 215.7% ** Cinedigm Corp , up 172.9% ** Kezar Life Sciences , up 108.5% The top three Nasdaq .PL.O percentage losers: ** Cassava Sciences Inc , down 23.7% ** Summit Wireless Technologies , down 21.3% ** Fsd Pharma , down 19.1% ** Goldman Sachs Group Inc GS.N: up 0.6% ** JPMorgan Chase & Co JPM.N: up 1.3% ** Citigroup Inc C.N: up 1.7% ** Wells Fargo & Co WFC.N: up 3.5% ** Bank of America BAC.N: up 2.0% ** Morgan Stanley MS.N: up 1.6% BUZZ-U.S. big banks rise as yields tick up on European stimulus, U.S. jobs report ** Cinedigm Corp CIDM.O: up 172.9% BUZZ-Eyes best day ever on deal for OTT channel distribution ** Autodesk Inc ADSK.O: down 0.2% BUZZ-Brokerages hike PT on rising demand from construction industry ** Aldeyra Therapeutics ALDX.O: up 3.4% BUZZ-Gains on FDA agreement for eye disease treatment ** Ebay Inc EBAY.O: up 6.2% BUZZ-:Hits record high on upbeat Q2 outlook ** G-III Apparel Group GIII.O: up 10.2% BUZZ-Jumps on plan to cut losses with store closures ** Alpine Income Property PINE.N: up 1.1% BUZZ-:Rises as BTIG starts coverage with 'buy' ** Charles Schwab SCHW.N: up 1.6% ** TD Ameritrade Holding Corp AMTD.O: up 4.7% BUZZ-Charles Schwab, TD Ameritrade rise after all-stock deal gets DOJ approval ** American Airlines AAL.O: up 24.3% BUZZ-Soars on plans to boost flights in July as economy reopens ** Anavex Life Sciences AVXL.O: up 7.3% BUZZ-Anavex rises on approval to expand Alzheimer's study to Canada, UK ** Cloudera Inc CLDR.N: down 12.2% BUZZ-Drops on downbeat revenue forecast ** Royal Caribbean Cruises RCL.N: up 0.7% BUZZ-Falls co launches $2 bln convertible, notes offerings ** J M Smucker co SJM.N: down 3.7% BUZZ-Falls on gloomy fiscal 2021 sales forecast ** Kirkland's Inc KIRK.O: down 12.1% BUZZ-Falls as Q1 adjusted loss widens on coronavirus-led store closures ** Planet Fitness PLNT.N: down 3.0% BUZZ-Falls as Raymond James downgrades on stretched valuation ** Smartsheet Inc SMAR.N: down 22.3% BUZZ-Sinks, analysts say sell-off overdone ** NMI Holdings Inc NMIH.O: down 1.0% BUZZ-Falls after pricing $200 mln stock offering ** Nio Inc NIO.N: up 7.1% BUZZ-Gains on "record" May deliveries ** BioXcel Therapeutics Inc BTAI.O: up 11.6% BUZZ-Guggenheim starts coverage with 'buy' ** Freeport-McMoRan Inc FCX.N: up 0.4% BUZZ-: Jefferies sees stock doubling next year amid global recovery ** Sabre Corp SABR.O: up 1.9% BUZZ-Rises on plans to cut 800 jobs ** Michaels Companies Inc MIK.O: down 3.4% BUZZ- : Drops on surprise quarterly loss due to virus hit ** JinkoSolar Holding Co JKS.N: up 4.5% BUZZ-: Jumps on favorable decision in U.S. ITC patent investigation 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 indices,S&P 500 and Nasdaq edged lower in choppy trading on Thursday, as a rally fueled by hopes of a post-coronavirus economic recovery fizzled out even with weekly jobless claims dipping below 2 million for the first time since mid-March..N At 11:30 ET, the Dow Jones Industrial Average .DJI was down 0.01% at 26,267.22. down 0.48% Consumer Discretionary
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The top three S&P 500 .PG.INX percentage gainers: ** American Airlines Group , up 24.3% ** United Airlines Holding , up 13% ** Delta Air Lines , up 10.3% The top three S&P 500 .PL.INX percentage losers: ** Dexcom , down 5.3% ** Marketaxess Holdings , down 4% ** J M Smucker , down 3.7% The top three NYSE .PG.N percentage gainers: ** Ashford Inc , up 37.2% ** Medley Llc , up 31.9% ** Seacor Marine Holding , up 26.4% The top three NYSE .PL.N percentage losers: ** Empire State Realty , down 44.6% ** Smartsheet Inc , down 22.3% ** Navios Maritime , down 13% The top three Nasdaq .PG.O percentage gainers: ** Rosehill Resources , up 215.7% ** Cinedigm Corp , up 172.9% ** Kezar Life Sciences , up 108.5% The top three Nasdaq .PL.O percentage losers: ** Cassava Sciences Inc , down 23.7% ** Summit Wireless Technologies , down 21.3% ** Fsd Pharma , down 19.1% ** Goldman Sachs Group Inc GS.N: up 0.6% ** JPMorgan Chase & Co JPM.N: up 1.3% ** Citigroup Inc C.N: up 1.7% ** Wells Fargo & Co WFC.N: up 3.5% ** Bank of America BAC.N: up 2.0% ** Morgan Stanley MS.N: up 1.6% BUZZ-U.S. big banks rise as yields tick up on European stimulus, U.S. jobs report ** Cinedigm Corp CIDM.O: up 172.9% BUZZ-Eyes best day ever on deal for OTT channel distribution ** Autodesk Inc ADSK.O: down 0.2% BUZZ-Brokerages hike PT on rising demand from construction industry ** Aldeyra Therapeutics ALDX.O: up 3.4% BUZZ-Gains on FDA agreement for eye disease treatment ** Ebay Inc EBAY.O: up 6.2% BUZZ-:Hits record high on upbeat Q2 outlook ** G-III Apparel Group GIII.O: up 10.2% BUZZ-Jumps on plan to cut losses with store closures ** Alpine Income Property PINE.N: up 1.1% BUZZ-:Rises as BTIG starts coverage with 'buy' ** Charles Schwab SCHW.N: up 1.6% ** TD Ameritrade Holding Corp AMTD.O: up 4.7% BUZZ-Charles Schwab, TD Ameritrade rise after all-stock deal gets DOJ approval ** American Airlines AAL.O: up 24.3% BUZZ-Soars on plans to boost flights in July as economy reopens ** Anavex Life Sciences AVXL.O: up 7.3% BUZZ-Anavex rises on approval to expand Alzheimer's study to Canada, UK ** Cloudera Inc CLDR.N: down 12.2% BUZZ-Drops on downbeat revenue forecast ** Royal Caribbean Cruises RCL.N: up 0.7% BUZZ-Falls co launches $2 bln convertible, notes offerings ** J M Smucker co SJM.N: down 3.7% BUZZ-Falls on gloomy fiscal 2021 sales forecast ** Kirkland's Inc KIRK.O: down 12.1% BUZZ-Falls as Q1 adjusted loss widens on coronavirus-led store closures ** Planet Fitness PLNT.N: down 3.0% BUZZ-Falls as Raymond James downgrades on stretched valuation ** Smartsheet Inc SMAR.N: down 22.3% BUZZ-Sinks, analysts say sell-off overdone ** NMI Holdings Inc NMIH.O: down 1.0% BUZZ-Falls after pricing $200 mln stock offering ** Nio Inc NIO.N: up 7.1% BUZZ-Gains on "record" May deliveries ** BioXcel Therapeutics Inc BTAI.O: up 11.6% BUZZ-Guggenheim starts coverage with 'buy' ** Freeport-McMoRan Inc FCX.N: up 0.4% BUZZ-: Jefferies sees stock doubling next year amid global recovery ** Sabre Corp SABR.O: up 1.9% BUZZ-Rises on plans to cut 800 jobs ** Michaels Companies Inc MIK.O: down 3.4% BUZZ- : Drops on surprise quarterly loss due to virus hit ** JinkoSolar Holding Co JKS.N: up 4.5% BUZZ-: Jumps on favorable decision in U.S. ITC patent investigation 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 indices,S&P 500 and Nasdaq edged lower in choppy trading on Thursday, as a rally fueled by hopes of a post-coronavirus economic recovery fizzled out even with weekly jobless claims dipping below 2 million for the first time since mid-March..N At 11:30 ET, the Dow Jones Industrial Average .DJI was down 0.01% at 26,267.22. The S&P 500 .SPX was down 0.29% at 3,113.76 and the Nasdaq Composite .IXIC was down 0.44% at 9,639.846.
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c0054b72-1abe-401a-b41e-7c3e4cab8d7d
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5774.0
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2020-06-04 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-ZoomInfo, Genius Brands, Comtech
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AAL
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-zoominfo-genius-brands-comtech-2020-06-04
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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
The S&P 500 and Nasdaq indexes edged lower in choppy trading on Thursday, as a rally fueled by hopes of a post-coronavirus economic recovery fizzled out even with weekly jobless claims dipping below 2 million for the first time since mid-March. .N
At 13:00 ET, the Dow Jones Industrial Average .DJI was down 0.34% at 26,179.66. The S&P 500 .SPX was down 0.57% at 3,105.1 and the Nasdaq Composite .IXIC was down 0.75% at 9,610.701. The top three S&P 500 .PG.INX percentage gainers: ** American Airlines Group , up 25.4% ** United Airlines Holding , up 14.4% ** Delta Air Lines , up 10.5% The top three S&P 500 .PL.INX percentage losers: ** Dexcom Inc , down 6.4% ** Sba Communications Corp , down 4.3% ** J M Smucker , down 4.3% The top three NYSE .PG.N percentage gainers: ** Seacor Marine Holdings , up 40.7% ** Medley Llc , up 39.8% ** Ashford Inc , up 37.2% The top three NYSE .PL.N percentage losers: ** Empire State Realty , down 44.6% ** Smartsheet Inc , down 22.1% ** Navios Maritime Holdings , down 13.3% The top three Nasdaq .PG.O percentage gainers: ** Cinedigm Corp , up 161.1% ** Rosehill Resources Inc , up 135.7% ** Kezar Life Sciences Inc , up 83.4% The top three Nasdaq .PL.O percentage losers: ** FSD Pharma , down 26.4% ** Cassava Sciences Inc , down 22.8% ** Hebron Technology Co , down 19.9% ** Woodward WWD.O: up 0.2%
BUZZ-Gains after Jefferies raises PT on co's recovery potential ** ZoomInfo Technologies ZI.O: up 70.1%
BUZZ- doubles as IPO market gains speed ** Genius Brands International GNUS.O: down 16.8%
BUZZ-volatile as shareholders file for stock sales ** Comtech Telecommunications CMTL.O: down 16.5%
BUZZ-:Drops as revenue falls short on COVID-19 hit ** Autodesk Inc ADSK.O: down 0.5%
BUZZ-Brokerages hike PT on rising demand from construction industry ** Cinedigm Corp CIDM.O: up 161.1%
BUZZ-Eyes best day ever on deal for OTT channel distribution ** Goldman Sachs Group Inc GS.N: up 0.4% ** JPMorgan Chase & Co JPM.N: up 1.0% ** Citigroup Inc C.N: up 1.7% ** Wells Fargo & Co WFC.N: up 2.8% BUZZ-U.S. big banks rise as yields tick up on European stimulus ** Aldeyra Therapeutics ALDX.O: up 1.5%
BUZZ-Gains on FDA agreement for eye disease treatment ** Ebay Inc EBAY.O: up 7.9%
BUZZ-Hits record high on upbeat Q2 outlook ** G-III Apparel Group GIII.O: up 13.1%
BUZZ-Jumps on plan to cut losses with store closures ** Charles Schwab SCHW.N: up 2.4% ** TD Ameritrade Holding Corp AMTD.O: up 5.6%
BUZZ-Charles Schwab, TD Ameritrade rise after all-stock deal gets DOJ approval ** American Airlines AAL.O: up 25.4%
BUZZ-:Soars on plans to boost flights in July as economy reopens ** Anavex Life Sciences AVXL.O: up 5.4%
BUZZ-Anavex rises on approval to expand Alzheimer's study to Canada, UK ** Cloudera Inc CLDR.N: down 12.3%
BUZZ-Drops on downbeat revenue forecast ** Inovio Pharmaceuticals INO.O: down 2.5%
BUZZ-Up on plans to begin human trials of COVID-19 vaccine in South Korea ** J M Smucker co SJM.N: down 4.3%
BUZZ-Falls on gloomy fiscal 2021 sales forecast ** Kirkland's Inc KIRK.O: down 12.0%
BUZZ-Falls as Q1 adjusted loss widens on coronavirus-led store closures ** Planet Fitness PLNT.N: down 4.0%
BUZZ-Falls as Raymond James downgrades on stretched valuation ** Smartsheet Inc SMAR.N: down 22.1%
BUZZ-Sinks, analysts say sell-off overdone ** NMI Holdings Inc NMIH.O: down 1.6%
BUZZ-Falls after pricing $200 mln stock offering ** Nio Inc NIO.N: up 4.1%
BUZZ-Gains on "record" May deliveries ** BioXcel Therapeutics Inc BTAI.O: up 9.1%
BUZZ-Guggenheim starts coverage with 'buy' ** Freeport-McMoRan Inc FCX.N: up 0.3%
BUZZ-: Jefferies sees stock doubling next year amid global recovery ** Sabre Corp SABR.O: up 3.0%
BUZZ-Rises on plans to cut 800 jobs ** JinkoSolar Holding Co JKS.N: up 5.2%
BUZZ-: Jumps on favorable decision in U.S. ITC patent investigation
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
down 0.77%
Consumer Discretionary
.SPLRCD
down 0.47%
Consumer Staples
.SPLRCS
down 0.22%
Energy
.SPNY
down 0.93%
Financial
.SPSY
up 0.58%
Health
.SPXHC
down 0.99%
Industrial
.SPLRCI
up 0.20%
Information Technology
.SPLRCT
down 0.80%
Materials
.SPLRCM
flat
Real Estate
.SPLRCR
down 2.23%
Utilities
.SPLRCU
down 1.65%
(Reporting 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: ** American Airlines Group , up 25.4% ** United Airlines Holding , up 14.4% ** Delta Air Lines , up 10.5% The top three S&P 500 .PL.INX percentage losers: ** Dexcom Inc , down 6.4% ** Sba Communications Corp , down 4.3% ** J M Smucker , down 4.3% The top three NYSE .PG.N percentage gainers: ** Seacor Marine Holdings , up 40.7% ** Medley Llc , up 39.8% ** Ashford Inc , up 37.2% The top three NYSE .PL.N percentage losers: ** Empire State Realty , down 44.6% ** Smartsheet Inc , down 22.1% ** Navios Maritime Holdings , down 13.3% The top three Nasdaq .PG.O percentage gainers: ** Cinedigm Corp , up 161.1% ** Rosehill Resources Inc , up 135.7% ** Kezar Life Sciences Inc , up 83.4% The top three Nasdaq .PL.O percentage losers: ** FSD Pharma , down 26.4% ** Cassava Sciences Inc , down 22.8% ** Hebron Technology Co , down 19.9% ** Woodward WWD.O: up 0.2% BUZZ-Gains after Jefferies raises PT on co's recovery potential ** ZoomInfo Technologies ZI.O: up 70.1% BUZZ- doubles as IPO market gains speed ** Genius Brands International GNUS.O: down 16.8% BUZZ-volatile as shareholders file for stock sales ** Comtech Telecommunications CMTL.O: down 16.5% BUZZ-:Drops as revenue falls short on COVID-19 hit ** Autodesk Inc ADSK.O: down 0.5% BUZZ-Brokerages hike PT on rising demand from construction industry ** Cinedigm Corp CIDM.O: up 161.1% BUZZ-Eyes best day ever on deal for OTT channel distribution ** Goldman Sachs Group Inc GS.N: up 0.4% ** JPMorgan Chase & Co JPM.N: up 1.0% ** Citigroup Inc C.N: up 1.7% ** Wells Fargo & Co WFC.N: up 2.8% BUZZ-U.S. big banks rise as yields tick up on European stimulus ** Aldeyra Therapeutics ALDX.O: up 1.5% BUZZ-Gains on FDA agreement for eye disease treatment ** Ebay Inc EBAY.O: up 7.9% BUZZ-Hits record high on upbeat Q2 outlook ** G-III Apparel Group GIII.O: up 13.1% BUZZ-Jumps on plan to cut losses with store closures ** Charles Schwab SCHW.N: up 2.4% ** TD Ameritrade Holding Corp AMTD.O: up 5.6% BUZZ-Charles Schwab, TD Ameritrade rise after all-stock deal gets DOJ approval ** American Airlines AAL.O: up 25.4% BUZZ-:Soars on plans to boost flights in July as economy reopens ** Anavex Life Sciences AVXL.O: up 5.4% BUZZ-Anavex rises on approval to expand Alzheimer's study to Canada, UK ** Cloudera Inc CLDR.N: down 12.3% BUZZ-Drops on downbeat revenue forecast ** Inovio Pharmaceuticals INO.O: down 2.5% BUZZ-Up on plans to begin human trials of COVID-19 vaccine in South Korea ** J M Smucker co SJM.N: down 4.3% BUZZ-Falls on gloomy fiscal 2021 sales forecast ** Kirkland's Inc KIRK.O: down 12.0% BUZZ-Falls as Q1 adjusted loss widens on coronavirus-led store closures ** Planet Fitness PLNT.N: down 4.0% BUZZ-Falls as Raymond James downgrades on stretched valuation ** Smartsheet Inc SMAR.N: down 22.1% BUZZ-Sinks, analysts say sell-off overdone ** NMI Holdings Inc NMIH.O: down 1.6% BUZZ-Falls after pricing $200 mln stock offering ** Nio Inc NIO.N: up 4.1% BUZZ-Gains on "record" May deliveries ** BioXcel Therapeutics Inc BTAI.O: up 9.1% BUZZ-Guggenheim starts coverage with 'buy' ** Freeport-McMoRan Inc FCX.N: up 0.3% BUZZ-: Jefferies sees stock doubling next year amid global recovery ** Sabre Corp SABR.O: up 3.0% BUZZ-Rises on plans to cut 800 jobs ** JinkoSolar Holding Co JKS.N: up 5.2% BUZZ-: Jumps on favorable decision in U.S. ITC patent investigation 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 The S&P 500 and Nasdaq indexes edged lower in choppy trading on Thursday, as a rally fueled by hopes of a post-coronavirus economic recovery fizzled out even with weekly jobless claims dipping below 2 million for the first time since mid-March. down 1.65% (Reporting 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: ** American Airlines Group , up 25.4% ** United Airlines Holding , up 14.4% ** Delta Air Lines , up 10.5% The top three S&P 500 .PL.INX percentage losers: ** Dexcom Inc , down 6.4% ** Sba Communications Corp , down 4.3% ** J M Smucker , down 4.3% The top three NYSE .PG.N percentage gainers: ** Seacor Marine Holdings , up 40.7% ** Medley Llc , up 39.8% ** Ashford Inc , up 37.2% The top three NYSE .PL.N percentage losers: ** Empire State Realty , down 44.6% ** Smartsheet Inc , down 22.1% ** Navios Maritime Holdings , down 13.3% The top three Nasdaq .PG.O percentage gainers: ** Cinedigm Corp , up 161.1% ** Rosehill Resources Inc , up 135.7% ** Kezar Life Sciences Inc , up 83.4% The top three Nasdaq .PL.O percentage losers: ** FSD Pharma , down 26.4% ** Cassava Sciences Inc , down 22.8% ** Hebron Technology Co , down 19.9% ** Woodward WWD.O: up 0.2% BUZZ-Gains after Jefferies raises PT on co's recovery potential ** ZoomInfo Technologies ZI.O: up 70.1% BUZZ- doubles as IPO market gains speed ** Genius Brands International GNUS.O: down 16.8% BUZZ-volatile as shareholders file for stock sales ** Comtech Telecommunications CMTL.O: down 16.5% BUZZ-:Drops as revenue falls short on COVID-19 hit ** Autodesk Inc ADSK.O: down 0.5% BUZZ-Brokerages hike PT on rising demand from construction industry ** Cinedigm Corp CIDM.O: up 161.1% BUZZ-Eyes best day ever on deal for OTT channel distribution ** Goldman Sachs Group Inc GS.N: up 0.4% ** JPMorgan Chase & Co JPM.N: up 1.0% ** Citigroup Inc C.N: up 1.7% ** Wells Fargo & Co WFC.N: up 2.8% BUZZ-U.S. big banks rise as yields tick up on European stimulus ** Aldeyra Therapeutics ALDX.O: up 1.5% BUZZ-Gains on FDA agreement for eye disease treatment ** Ebay Inc EBAY.O: up 7.9% BUZZ-Hits record high on upbeat Q2 outlook ** G-III Apparel Group GIII.O: up 13.1% BUZZ-Jumps on plan to cut losses with store closures ** Charles Schwab SCHW.N: up 2.4% ** TD Ameritrade Holding Corp AMTD.O: up 5.6% BUZZ-Charles Schwab, TD Ameritrade rise after all-stock deal gets DOJ approval ** American Airlines AAL.O: up 25.4% BUZZ-:Soars on plans to boost flights in July as economy reopens ** Anavex Life Sciences AVXL.O: up 5.4% BUZZ-Anavex rises on approval to expand Alzheimer's study to Canada, UK ** Cloudera Inc CLDR.N: down 12.3% BUZZ-Drops on downbeat revenue forecast ** Inovio Pharmaceuticals INO.O: down 2.5% BUZZ-Up on plans to begin human trials of COVID-19 vaccine in South Korea ** J M Smucker co SJM.N: down 4.3% BUZZ-Falls on gloomy fiscal 2021 sales forecast ** Kirkland's Inc KIRK.O: down 12.0% BUZZ-Falls as Q1 adjusted loss widens on coronavirus-led store closures ** Planet Fitness PLNT.N: down 4.0% BUZZ-Falls as Raymond James downgrades on stretched valuation ** Smartsheet Inc SMAR.N: down 22.1% BUZZ-Sinks, analysts say sell-off overdone ** NMI Holdings Inc NMIH.O: down 1.6% BUZZ-Falls after pricing $200 mln stock offering ** Nio Inc NIO.N: up 4.1% BUZZ-Gains on "record" May deliveries ** BioXcel Therapeutics Inc BTAI.O: up 9.1% BUZZ-Guggenheim starts coverage with 'buy' ** Freeport-McMoRan Inc FCX.N: up 0.3% BUZZ-: Jefferies sees stock doubling next year amid global recovery ** Sabre Corp SABR.O: up 3.0% BUZZ-Rises on plans to cut 800 jobs ** JinkoSolar Holding Co JKS.N: up 5.2% BUZZ-: Jumps on favorable decision in U.S. ITC patent investigation 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 The S&P 500 and Nasdaq indexes edged lower in choppy trading on Thursday, as a rally fueled by hopes of a post-coronavirus economic recovery fizzled out even with weekly jobless claims dipping below 2 million for the first time since mid-March. down 1.65% (Reporting 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: ** American Airlines Group , up 25.4% ** United Airlines Holding , up 14.4% ** Delta Air Lines , up 10.5% The top three S&P 500 .PL.INX percentage losers: ** Dexcom Inc , down 6.4% ** Sba Communications Corp , down 4.3% ** J M Smucker , down 4.3% The top three NYSE .PG.N percentage gainers: ** Seacor Marine Holdings , up 40.7% ** Medley Llc , up 39.8% ** Ashford Inc , up 37.2% The top three NYSE .PL.N percentage losers: ** Empire State Realty , down 44.6% ** Smartsheet Inc , down 22.1% ** Navios Maritime Holdings , down 13.3% The top three Nasdaq .PG.O percentage gainers: ** Cinedigm Corp , up 161.1% ** Rosehill Resources Inc , up 135.7% ** Kezar Life Sciences Inc , up 83.4% The top three Nasdaq .PL.O percentage losers: ** FSD Pharma , down 26.4% ** Cassava Sciences Inc , down 22.8% ** Hebron Technology Co , down 19.9% ** Woodward WWD.O: up 0.2% BUZZ-Gains after Jefferies raises PT on co's recovery potential ** ZoomInfo Technologies ZI.O: up 70.1% BUZZ- doubles as IPO market gains speed ** Genius Brands International GNUS.O: down 16.8% BUZZ-volatile as shareholders file for stock sales ** Comtech Telecommunications CMTL.O: down 16.5% BUZZ-:Drops as revenue falls short on COVID-19 hit ** Autodesk Inc ADSK.O: down 0.5% BUZZ-Brokerages hike PT on rising demand from construction industry ** Cinedigm Corp CIDM.O: up 161.1% BUZZ-Eyes best day ever on deal for OTT channel distribution ** Goldman Sachs Group Inc GS.N: up 0.4% ** JPMorgan Chase & Co JPM.N: up 1.0% ** Citigroup Inc C.N: up 1.7% ** Wells Fargo & Co WFC.N: up 2.8% BUZZ-U.S. big banks rise as yields tick up on European stimulus ** Aldeyra Therapeutics ALDX.O: up 1.5% BUZZ-Gains on FDA agreement for eye disease treatment ** Ebay Inc EBAY.O: up 7.9% BUZZ-Hits record high on upbeat Q2 outlook ** G-III Apparel Group GIII.O: up 13.1% BUZZ-Jumps on plan to cut losses with store closures ** Charles Schwab SCHW.N: up 2.4% ** TD Ameritrade Holding Corp AMTD.O: up 5.6% BUZZ-Charles Schwab, TD Ameritrade rise after all-stock deal gets DOJ approval ** American Airlines AAL.O: up 25.4% BUZZ-:Soars on plans to boost flights in July as economy reopens ** Anavex Life Sciences AVXL.O: up 5.4% BUZZ-Anavex rises on approval to expand Alzheimer's study to Canada, UK ** Cloudera Inc CLDR.N: down 12.3% BUZZ-Drops on downbeat revenue forecast ** Inovio Pharmaceuticals INO.O: down 2.5% BUZZ-Up on plans to begin human trials of COVID-19 vaccine in South Korea ** J M Smucker co SJM.N: down 4.3% BUZZ-Falls on gloomy fiscal 2021 sales forecast ** Kirkland's Inc KIRK.O: down 12.0% BUZZ-Falls as Q1 adjusted loss widens on coronavirus-led store closures ** Planet Fitness PLNT.N: down 4.0% BUZZ-Falls as Raymond James downgrades on stretched valuation ** Smartsheet Inc SMAR.N: down 22.1% BUZZ-Sinks, analysts say sell-off overdone ** NMI Holdings Inc NMIH.O: down 1.6% BUZZ-Falls after pricing $200 mln stock offering ** Nio Inc NIO.N: up 4.1% BUZZ-Gains on "record" May deliveries ** BioXcel Therapeutics Inc BTAI.O: up 9.1% BUZZ-Guggenheim starts coverage with 'buy' ** Freeport-McMoRan Inc FCX.N: up 0.3% BUZZ-: Jefferies sees stock doubling next year amid global recovery ** Sabre Corp SABR.O: up 3.0% BUZZ-Rises on plans to cut 800 jobs ** JinkoSolar Holding Co JKS.N: up 5.2% BUZZ-: Jumps on favorable decision in U.S. ITC patent investigation The 11 major S&P 500 sectors: Communication Services down 0.77% Consumer Discretionary down 0.47% Consumer Staples
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The top three S&P 500 .PG.INX percentage gainers: ** American Airlines Group , up 25.4% ** United Airlines Holding , up 14.4% ** Delta Air Lines , up 10.5% The top three S&P 500 .PL.INX percentage losers: ** Dexcom Inc , down 6.4% ** Sba Communications Corp , down 4.3% ** J M Smucker , down 4.3% The top three NYSE .PG.N percentage gainers: ** Seacor Marine Holdings , up 40.7% ** Medley Llc , up 39.8% ** Ashford Inc , up 37.2% The top three NYSE .PL.N percentage losers: ** Empire State Realty , down 44.6% ** Smartsheet Inc , down 22.1% ** Navios Maritime Holdings , down 13.3% The top three Nasdaq .PG.O percentage gainers: ** Cinedigm Corp , up 161.1% ** Rosehill Resources Inc , up 135.7% ** Kezar Life Sciences Inc , up 83.4% The top three Nasdaq .PL.O percentage losers: ** FSD Pharma , down 26.4% ** Cassava Sciences Inc , down 22.8% ** Hebron Technology Co , down 19.9% ** Woodward WWD.O: up 0.2% BUZZ-Gains after Jefferies raises PT on co's recovery potential ** ZoomInfo Technologies ZI.O: up 70.1% BUZZ- doubles as IPO market gains speed ** Genius Brands International GNUS.O: down 16.8% BUZZ-volatile as shareholders file for stock sales ** Comtech Telecommunications CMTL.O: down 16.5% BUZZ-:Drops as revenue falls short on COVID-19 hit ** Autodesk Inc ADSK.O: down 0.5% BUZZ-Brokerages hike PT on rising demand from construction industry ** Cinedigm Corp CIDM.O: up 161.1% BUZZ-Eyes best day ever on deal for OTT channel distribution ** Goldman Sachs Group Inc GS.N: up 0.4% ** JPMorgan Chase & Co JPM.N: up 1.0% ** Citigroup Inc C.N: up 1.7% ** Wells Fargo & Co WFC.N: up 2.8% BUZZ-U.S. big banks rise as yields tick up on European stimulus ** Aldeyra Therapeutics ALDX.O: up 1.5% BUZZ-Gains on FDA agreement for eye disease treatment ** Ebay Inc EBAY.O: up 7.9% BUZZ-Hits record high on upbeat Q2 outlook ** G-III Apparel Group GIII.O: up 13.1% BUZZ-Jumps on plan to cut losses with store closures ** Charles Schwab SCHW.N: up 2.4% ** TD Ameritrade Holding Corp AMTD.O: up 5.6% BUZZ-Charles Schwab, TD Ameritrade rise after all-stock deal gets DOJ approval ** American Airlines AAL.O: up 25.4% BUZZ-:Soars on plans to boost flights in July as economy reopens ** Anavex Life Sciences AVXL.O: up 5.4% BUZZ-Anavex rises on approval to expand Alzheimer's study to Canada, UK ** Cloudera Inc CLDR.N: down 12.3% BUZZ-Drops on downbeat revenue forecast ** Inovio Pharmaceuticals INO.O: down 2.5% BUZZ-Up on plans to begin human trials of COVID-19 vaccine in South Korea ** J M Smucker co SJM.N: down 4.3% BUZZ-Falls on gloomy fiscal 2021 sales forecast ** Kirkland's Inc KIRK.O: down 12.0% BUZZ-Falls as Q1 adjusted loss widens on coronavirus-led store closures ** Planet Fitness PLNT.N: down 4.0% BUZZ-Falls as Raymond James downgrades on stretched valuation ** Smartsheet Inc SMAR.N: down 22.1% BUZZ-Sinks, analysts say sell-off overdone ** NMI Holdings Inc NMIH.O: down 1.6% BUZZ-Falls after pricing $200 mln stock offering ** Nio Inc NIO.N: up 4.1% BUZZ-Gains on "record" May deliveries ** BioXcel Therapeutics Inc BTAI.O: up 9.1% BUZZ-Guggenheim starts coverage with 'buy' ** Freeport-McMoRan Inc FCX.N: up 0.3% BUZZ-: Jefferies sees stock doubling next year amid global recovery ** Sabre Corp SABR.O: up 3.0% BUZZ-Rises on plans to cut 800 jobs ** JinkoSolar Holding Co JKS.N: up 5.2% BUZZ-: Jumps on favorable decision in U.S. ITC patent investigation 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 The S&P 500 and Nasdaq indexes edged lower in choppy trading on Thursday, as a rally fueled by hopes of a post-coronavirus economic recovery fizzled out even with weekly jobless claims dipping below 2 million for the first time since mid-March. .N At 13:00 ET, the Dow Jones Industrial Average .DJI was down 0.34% at 26,179.66.
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63214a7e-e6bf-4633-bcb6-1a819605049b
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5775.0
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2020-06-04 00:00:00 UTC
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Wall Street retreats after rallying on recovery optimism
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AAL
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https://www.nasdaq.com/articles/wall-street-retreats-after-rallying-on-recovery-optimism-2020-06-04
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nan
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nan
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For a live blog on the U.S. stock market, click LIVE/ or type LIVE/ in a news window.
U.S. weekly jobless claims drop below 2 million
Nasdaq 100 index hits intraday record high
American Airlines rises on plans to boost U.S. flights in July
Charles Schwab, TD Ameritrade rise as DOJ approves deal
Indexes off: Dow 0.37%, S&P 500 0.59%, Nasdaq 0.78%
Adds comments, updates prices to early afternoon
By Devik Jain and Shreyashi Sanyal
June 4 (Reuters) - The Nasdaq 100 index retreated from an intraday record high on Thursday, with the S&P 500 and Dow Jones indexes also slipping as a rally fueled by hopes of a post-coronavirus economic recovery fizzled out.
Wall Street's main indexes had gained in early trading as U.S. weekly jobless claims fell below 2 million for the first time since mid-March, bolstering optimism around a pickup in business activity as economies reopened.
American Airlines Group Inc AAL.O surged 24.9% after revealing plans to fly more than 55% of its July 2019 domestic capacity and boost its U.S. flight schedule next month. The NYSE Arca airlines index .XAL jumped 8.2% to a near three-month high.
But nine of the 11 S&P 500 sectors were trading lower by midday, with the defensive real estate .SPLRCR and utilities .SPLRCU indexes leading declines.
"There's a belief the economy is going to reopen and when you partner that up with the liquidity provided by global central banks, now is a somewhat safe time to be investing in equities," said Robert Pavlik, chief investment strategist at SlateStone Wealth LLC in New York.
"But (the market is) going to go through periods where it takes a little bit of a pause, especially after seeing the kind of gains we've had in the last couple of days."
Wall Street's main indexes have recovered sharply from their March lows and the Nasdaq Composite index .IXIC, which is wider and more closely watched than the Nasdaq 100 .NDX, is now only 2% below its record high hit in February.
The rebound has been partly driven by tech-related firms, including Amazon.com Inc AMZN.O and Netflix Inc NFLX.O, deemed "stay-at-home" stocks during the weeks of a lockdown imposed to contain the novel coronavirus.
The NYSE FANG+TM index .NYFANG, which includes Facebook Inc FB.O, Apple Inc AAPL.O, Amazon.com, Netflix, Alphabet Inc GOOGL.O, Baidu Inc BIDU.O and Twitter TWTR.N also hit a record high in morning trading.
"In this market, you need to be selective and technology continues to be one of our favorite sectors," said Larry Adam, chief investment officer at Raymond James in Baltimore, Maryland.
Meanwhile, nationwide protests over the death of an unarmed black man in police custody dwindled overnight into early Thursday after prosecutors leveled new charges against four Minneapolis policemen implicated in the killing.
At 12:57 p.m. ET, the Dow Jones Industrial Average .DJI was down 97.96 points, or 0.37%, at 26,171.93, the S&P 500 .SPX was down 18.33 points, or 0.59%, at 3,104.54 and the Nasdaq Composite .IXIC was down 75.61 points, or 0.78%, at 9,607.30.
Jif peanut butter maker J.M. Smucker Co SJM.N fell 4% after forecasting a decline in full-year sales.
But Charles Schwab Corp SCHW.N gained 1.9% after it received an anti-trust approval from the Department of Justice for its purchase of TD Ameritrade Holding Corp AMTD.O. TD Ameritrade rose 5.1%.
Declining issues slightly outnumbered advancers on the NYSE and the Nasdaq.
The S&P index recorded 13 new 52-week highs and no new low, while the Nasdaq recorded 46 new highs and seven new lows.
(Reporting by Devik Jain and Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta, Sagarika Jaisinghani and Uttaresh.V)
((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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American Airlines Group Inc AAL.O surged 24.9% after revealing plans to fly more than 55% of its July 2019 domestic capacity and boost its U.S. flight schedule next month. Wall Street's main indexes had gained in early trading as U.S. weekly jobless claims fell below 2 million for the first time since mid-March, bolstering optimism around a pickup in business activity as economies reopened. "In this market, you need to be selective and technology continues to be one of our favorite sectors," said Larry Adam, chief investment officer at Raymond James in Baltimore, Maryland.
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American Airlines Group Inc AAL.O surged 24.9% after revealing plans to fly more than 55% of its July 2019 domestic capacity and boost its U.S. flight schedule next month. U.S. weekly jobless claims drop below 2 million Nasdaq 100 index hits intraday record high American Airlines rises on plans to boost U.S. flights in July Charles Schwab, TD Ameritrade rise as DOJ approves deal Indexes off: Dow 0.37%, S&P 500 0.59%, Nasdaq 0.78% Adds comments, updates prices to early afternoon By Devik Jain and Shreyashi Sanyal June 4 (Reuters) - The Nasdaq 100 index retreated from an intraday record high on Thursday, with the S&P 500 and Dow Jones indexes also slipping as a rally fueled by hopes of a post-coronavirus economic recovery fizzled out. Wall Street's main indexes had gained in early trading as U.S. weekly jobless claims fell below 2 million for the first time since mid-March, bolstering optimism around a pickup in business activity as economies reopened.
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American Airlines Group Inc AAL.O surged 24.9% after revealing plans to fly more than 55% of its July 2019 domestic capacity and boost its U.S. flight schedule next month. U.S. weekly jobless claims drop below 2 million Nasdaq 100 index hits intraday record high American Airlines rises on plans to boost U.S. flights in July Charles Schwab, TD Ameritrade rise as DOJ approves deal Indexes off: Dow 0.37%, S&P 500 0.59%, Nasdaq 0.78% Adds comments, updates prices to early afternoon By Devik Jain and Shreyashi Sanyal June 4 (Reuters) - The Nasdaq 100 index retreated from an intraday record high on Thursday, with the S&P 500 and Dow Jones indexes also slipping as a rally fueled by hopes of a post-coronavirus economic recovery fizzled out. Wall Street's main indexes have recovered sharply from their March lows and the Nasdaq Composite index .IXIC, which is wider and more closely watched than the Nasdaq 100 .NDX, is now only 2% below its record high hit in February.
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American Airlines Group Inc AAL.O surged 24.9% after revealing plans to fly more than 55% of its July 2019 domestic capacity and boost its U.S. flight schedule next month. U.S. weekly jobless claims drop below 2 million Nasdaq 100 index hits intraday record high American Airlines rises on plans to boost U.S. flights in July Charles Schwab, TD Ameritrade rise as DOJ approves deal Indexes off: Dow 0.37%, S&P 500 0.59%, Nasdaq 0.78% Adds comments, updates prices to early afternoon By Devik Jain and Shreyashi Sanyal June 4 (Reuters) - The Nasdaq 100 index retreated from an intraday record high on Thursday, with the S&P 500 and Dow Jones indexes also slipping as a rally fueled by hopes of a post-coronavirus economic recovery fizzled out. The NYSE Arca airlines index .XAL jumped 8.2% to a near three-month high.
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ce877498-0535-4000-a671-992bf57ec6db
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5776.0
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2020-06-04 00:00:00 UTC
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Notable Thursday Option Activity: AAL, GOOG, EBAY
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AAL
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https://www.nasdaq.com/articles/notable-thursday-option-activity%3A-aal-goog-ebay-2020-06-04
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nan
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nan
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Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in American Airlines Group Inc (Symbol: AAL), where a total of 599,549 contracts have traded so far, representing approximately 60.0 million underlying shares. That amounts to about 96% of AAL's average daily trading volume over the past month of 62.5 million shares. Especially high volume was seen for the $15 strike call option expiring June 05, 2020, with 27,025 contracts trading so far today, representing approximately 2.7 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $15 strike highlighted in orange:
Alphabet Inc (Symbol: GOOG) saw options trading volume of 12,997 contracts, representing approximately 1.3 million underlying shares or approximately 85.5% of GOOG's average daily trading volume over the past month, of 1.5 million shares. Particularly high volume was seen for the $1425 strike call option expiring June 05, 2020, with 511 contracts trading so far today, representing approximately 51,100 underlying shares of GOOG. Below is a chart showing GOOG's trailing twelve month trading history, with the $1425 strike highlighted in orange:
And eBay Inc. (Symbol: EBAY) saw options trading volume of 70,967 contracts, representing approximately 7.1 million underlying shares or approximately 65.4% of EBAY's average daily trading volume over the past month, of 10.9 million shares. Particularly high volume was seen for the $50 strike call option expiring June 19, 2020, with 7,099 contracts trading so far today, representing approximately 709,900 underlying shares of EBAY. Below is a chart showing EBAY's trailing twelve month trading history, with the $50 strike highlighted in orange:
For the various different available expirations for AAL options, GOOG options, or EBAY options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $15 strike call option expiring June 05, 2020, with 27,025 contracts trading so far today, representing approximately 2.7 million underlying shares of AAL. Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in American Airlines Group Inc (Symbol: AAL), where a total of 599,549 contracts have traded so far, representing approximately 60.0 million underlying shares. That amounts to about 96% of AAL's average daily trading volume over the past month of 62.5 million shares.
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Especially high volume was seen for the $15 strike call option expiring June 05, 2020, with 27,025 contracts trading so far today, representing approximately 2.7 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $15 strike highlighted in orange: Alphabet Inc (Symbol: GOOG) saw options trading volume of 12,997 contracts, representing approximately 1.3 million underlying shares or approximately 85.5% of GOOG's average daily trading volume over the past month, of 1.5 million shares. Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in American Airlines Group Inc (Symbol: AAL), where a total of 599,549 contracts have traded so far, representing approximately 60.0 million underlying shares.
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Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in American Airlines Group Inc (Symbol: AAL), where a total of 599,549 contracts have traded so far, representing approximately 60.0 million underlying shares. Below is a chart showing AAL's trailing twelve month trading history, with the $15 strike highlighted in orange: Alphabet Inc (Symbol: GOOG) saw options trading volume of 12,997 contracts, representing approximately 1.3 million underlying shares or approximately 85.5% of GOOG's average daily trading volume over the past month, of 1.5 million shares. That amounts to about 96% of AAL's average daily trading volume over the past month of 62.5 million shares.
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Especially high volume was seen for the $15 strike call option expiring June 05, 2020, with 27,025 contracts trading so far today, representing approximately 2.7 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $15 strike highlighted in orange: Alphabet Inc (Symbol: GOOG) saw options trading volume of 12,997 contracts, representing approximately 1.3 million underlying shares or approximately 85.5% of GOOG's average daily trading volume over the past month, of 1.5 million shares. Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in American Airlines Group Inc (Symbol: AAL), where a total of 599,549 contracts have traded so far, representing approximately 60.0 million underlying shares.
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58114283-dfbb-44f6-9c0d-0ea40213b093
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5777.0
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2020-06-04 00:00:00 UTC
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Consumer Sector Update for 06/04/2020: CIDM,AAL,MIK
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AAL
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https://www.nasdaq.com/articles/consumer-sector-update-for-06-04-2020%3A-cidmaalmik-2020-06-04
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Consumer stocks were narrowly lower, with the SPDR Consumer Staples Select Sector ETF slipping 0.2% this afternoon while the SPDR Consumer Discretionary Select Sector ETF was falling about 0.4%.
In company news, Cinedigm (CIDM) rallied Thursday, rising 160% in recent trade, after the television and movie distributor announced a new partnership with Vewd making its streaming networks available on more than 300 million Vewd-enabled smart TVs and connected devices worldwide. Financial terms were not disclosed.
American Airlines Group (AAL) rose 26% after the carrier Thursday said it will fly 55% of its domestic schedule and 20% of its international schedule during July compared with year-ago levels amid rising demand for air travel. It also reported flying an average of 110,000 passengers per day during the final week in May, up 71% over its April average. Other airline stocks also advanced.
Michaels Cos. (MIK) was 2% higher, reversing a more than 9% decline earlier Thursday that followed the retailer reporting an adjusted loss of $0.43 per share for its fiscal Q1 compared with a $0.31 per share adjusted profit during the year-ago period while analysts had been looking for the company to earn $0.14 per share, excluding one-time items.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group (AAL) rose 26% after the carrier Thursday said it will fly 55% of its domestic schedule and 20% of its international schedule during July compared with year-ago levels amid rising demand for air travel. In company news, Cinedigm (CIDM) rallied Thursday, rising 160% in recent trade, after the television and movie distributor announced a new partnership with Vewd making its streaming networks available on more than 300 million Vewd-enabled smart TVs and connected devices worldwide. Michaels Cos. (MIK) was 2% higher, reversing a more than 9% decline earlier Thursday that followed the retailer reporting an adjusted loss of $0.43 per share for its fiscal Q1 compared with a $0.31 per share adjusted profit during the year-ago period while analysts had been looking for the company to earn $0.14 per share, excluding one-time items.
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American Airlines Group (AAL) rose 26% after the carrier Thursday said it will fly 55% of its domestic schedule and 20% of its international schedule during July compared with year-ago levels amid rising demand for air travel. Consumer stocks were narrowly lower, with the SPDR Consumer Staples Select Sector ETF slipping 0.2% this afternoon while the SPDR Consumer Discretionary Select Sector ETF was falling about 0.4%. It also reported flying an average of 110,000 passengers per day during the final week in May, up 71% over its April average.
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American Airlines Group (AAL) rose 26% after the carrier Thursday said it will fly 55% of its domestic schedule and 20% of its international schedule during July compared with year-ago levels amid rising demand for air travel. Consumer stocks were narrowly lower, with the SPDR Consumer Staples Select Sector ETF slipping 0.2% this afternoon while the SPDR Consumer Discretionary Select Sector ETF was falling about 0.4%. Michaels Cos. (MIK) was 2% higher, reversing a more than 9% decline earlier Thursday that followed the retailer reporting an adjusted loss of $0.43 per share for its fiscal Q1 compared with a $0.31 per share adjusted profit during the year-ago period while analysts had been looking for the company to earn $0.14 per share, excluding one-time items.
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American Airlines Group (AAL) rose 26% after the carrier Thursday said it will fly 55% of its domestic schedule and 20% of its international schedule during July compared with year-ago levels amid rising demand for air travel. Consumer stocks were narrowly lower, with the SPDR Consumer Staples Select Sector ETF slipping 0.2% this afternoon while the SPDR Consumer Discretionary Select Sector ETF was falling about 0.4%. In company news, Cinedigm (CIDM) rallied Thursday, rising 160% in recent trade, after the television and movie distributor announced a new partnership with Vewd making its streaming networks available on more than 300 million Vewd-enabled smart TVs and connected devices worldwide.
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def2c60a-12f1-404b-a574-aae3b25ac04b
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5778.0
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2020-06-04 00:00:00 UTC
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American Airlines Soars 40% After Adding Flights
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AAL
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https://www.nasdaq.com/articles/american-airlines-soars-40-after-adding-flights-2020-06-04
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nan
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American Airlines Group (NASDAQ: AAL) on Thursday provided some of the clearest evidence yet that travel demand is beginning to recover off the bottom, and investors stampeded into the shares as a result.
American said that it plans to fly about 55% of its 2019 domestic capacity this July -- a significant boost after flying just 20% of its schedule in May -- and will reopen some of its airport lounges closed after travel demand evaporated due to the COVID-19 pandemic.
Airlines slashed flights and scrambled to cut costs as the pandemic spread globally, and shares of American and other carriers lost more than half of their value beginning in February on fears of widespread bankruptcies in the sector. American shares were hit particularly hard because the airline has the most debt among major U.S. carriers, and the company was seen as being particularly vulnerable to an extended downturn.
But there is growing evidence that demand might have bottomed out in April, and the early stages of a recovery are at hand.
Image source: American Airlines.
American said it averaged 110,330 passengers per day in the last week of May, more than triple the 32,154 daily passenger average for April.
We're still a long way from normal. At most American will fly 4,000 flights per day in July, compared to about 6,800 daily departures prior to the pandemic. International capacity remains well below domestic, and will remain so for some time. And American is taking steps including removing change fees and awarding double frequent flier miles to try to entice travelers.
Even after the rally, American trades at less than 0.2 times trailing twelve-month sales. The company has been busy adding to its cash position and expects to have $11 billion in total liquidity by the end of 2020, enough to weather the crisis. But risks, including a second wave of the pandemic, remain, and the sooner traffic returns the less chance there is of a failure.
The airline's shares soared Thursday on volume more than four times average, which could imply a mix of people betting on a recovery and shorts giving up on bets American would end up in bankruptcy. Other carriers also rallied on American's news, with shares of Spirit Airlines (NYSE: SAVE) closing up nearly 20%.
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 Spirit Airlines. The Motley Fool owns shares of and recommends Spirit 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) on Thursday provided some of the clearest evidence yet that travel demand is beginning to recover off the bottom, and investors stampeded into the shares as a result. Airlines slashed flights and scrambled to cut costs as the pandemic spread globally, and shares of American and other carriers lost more than half of their value beginning in February on fears of widespread bankruptcies in the sector. And American is taking steps including removing change fees and awarding double frequent flier miles to try to entice travelers.
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American Airlines Group (NASDAQ: AAL) on Thursday provided some of the clearest evidence yet that travel demand is beginning to recover off the bottom, and investors stampeded into the shares as a result. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Lou Whiteman owns shares of Spirit Airlines.
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American Airlines Group (NASDAQ: AAL) on Thursday provided some of the clearest evidence yet that travel demand is beginning to recover off the bottom, and investors stampeded into the shares as a result. The airline's shares soared Thursday on volume more than four times average, which could imply a mix of people betting on a recovery and shorts giving up on bets American would end up in bankruptcy. 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) on Thursday provided some of the clearest evidence yet that travel demand is beginning to recover off the bottom, and investors stampeded into the shares as a result. At most American will fly 4,000 flights per day in July, compared to about 6,800 daily departures prior to the pandemic. Other carriers also rallied on American's news, with shares of Spirit Airlines (NYSE: SAVE) closing up nearly 20%.
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6d075077-bfda-4668-809d-3d1037eaea64
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5779.0
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2020-06-04 00:00:00 UTC
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S&P 500, Nasdaq slide after rallying on recovery optimism
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AAL
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https://www.nasdaq.com/articles/sp-500-nasdaq-slide-after-rallying-on-recovery-optimism-2020-06-04
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nan
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nan
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For a live blog on the U.S. stock market, click LIVE/ or type LIVE/ in a news window.
U.S. weekly jobless claims drop below 2 million
Nasdaq 100 index hits record high
American Airlines up on plans to boost U.S. flights in July
Charles Schwab, TD Ameritrade rise as DOJ approves deal
Indexes: Dow flat, S&P 500 down 0.23%, Nasdaq off 0.39%
Adds comments, updates prices throughout
By Devik Jain and Shreyashi Sanyal
June 4 (Reuters) - The S&P 500 and Nasdaq indexes edged lower in choppy trading on Thursday, as a rally fueled by hopes of a post-coronavirus economic recovery fizzled out even with weekly jobless claims dipping below 2 million for the first time since mid-March.
Still, the Nasdaq 100 became the first U.S. equity index to reclaim its intraday record high, powered by the NYSE FANG+TM index .NYFANG, which includes Facebook Inc FB.O, Apple Inc AAPL.O, Amazon.com Inc AMZN.O, Netflix NFLX.O and Alphabet Inc GOOGL.O.
Wall Street's main indexes have recovered sharply from their March lows and the tech-heavy Nasdaq index .IXIC is now only 2% below its all-time closing high hit in February.
"In this market, you need to be selective and technology continues to be one of our favorite sectors," said Larry Adam, chief investment officer at Raymond James in Baltimore, Maryland.
"There's going to be much more reliance on fundamentals ... and (technology-related) are the types of companies that have the earnings growth that will be rewarded by the market."
A report from the Labor Department showed new claims for state unemployment benefits totaled 1.877 million for the week ended May 30, down from 2.126 million in the prior week. Economists polled by Reuters had forecast 1.8 million initial claims in the latest week.
Focus will now shift to the closely watched employment report for May, due Friday, which is expected to show the unemployment rate rocketing to 19.8%, a post-World War Two record.
At 11:36 a.m. ET, the Dow Jones Industrial Average .DJI was up 14.28 points, or 0.05%, at 26,284.17, the S&P 500 .SPX was down 7.23 points, or 0.23%, at 3,115.64 and the Nasdaq Composite .IXIC was down 37.95 points, or 0.39%, at 9,644.96.
American Airlines Group Inc AAL.O jumped 24.5% after the airline revealed plans to fly more than 55% of its July 2019 domestic capacity and boost its U.S. flight schedule next month.
Jif peanut butter maker J.M. Smucker Co SJM.N fell 3.8% after the company forecast a decline in full-year sales on weakness in sales to restaurants and schools.
Charles Schwab Corp SCHW.N gained 1.5% after it received an anti-trust approval from the Department of Justice for its purchase of TD Ameritrade Holding Corp AMTD.O. Shares of TD Ameritrade jumped 3.5%.
EBay Inc EBAY.O jumped 6.3% after it raised its current-quarter revenue and profit forecast, as people stuck at home ordered more from its platform due to the COVID-19 pandemic.
Declining issues nearly matched advancers on the NYSE and the Nasdaq.
The S&P index recorded 13 new 52-week highs and no new low, while the Nasdaq recorded 42 new highs and six new lows.
(Reporting by Devik Jain and Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta and Uttaresh.V)
((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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American Airlines Group Inc AAL.O jumped 24.5% after the airline revealed plans to fly more than 55% of its July 2019 domestic capacity and boost its U.S. flight schedule next month. U.S. weekly jobless claims drop below 2 million Nasdaq 100 index hits record high American Airlines up on plans to boost U.S. flights in July Charles Schwab, TD Ameritrade rise as DOJ approves deal Indexes: Dow flat, S&P 500 down 0.23%, Nasdaq off 0.39% Adds comments, updates prices throughout By Devik Jain and Shreyashi Sanyal June 4 (Reuters) - The S&P 500 and Nasdaq indexes edged lower in choppy trading on Thursday, as a rally fueled by hopes of a post-coronavirus economic recovery fizzled out even with weekly jobless claims dipping below 2 million for the first time since mid-March. "In this market, you need to be selective and technology continues to be one of our favorite sectors," said Larry Adam, chief investment officer at Raymond James in Baltimore, Maryland.
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American Airlines Group Inc AAL.O jumped 24.5% after the airline revealed plans to fly more than 55% of its July 2019 domestic capacity and boost its U.S. flight schedule next month. U.S. weekly jobless claims drop below 2 million Nasdaq 100 index hits record high American Airlines up on plans to boost U.S. flights in July Charles Schwab, TD Ameritrade rise as DOJ approves deal Indexes: Dow flat, S&P 500 down 0.23%, Nasdaq off 0.39% Adds comments, updates prices throughout By Devik Jain and Shreyashi Sanyal June 4 (Reuters) - The S&P 500 and Nasdaq indexes edged lower in choppy trading on Thursday, as a rally fueled by hopes of a post-coronavirus economic recovery fizzled out even with weekly jobless claims dipping below 2 million for the first time since mid-March. The S&P index recorded 13 new 52-week highs and no new low, while the Nasdaq recorded 42 new highs and six new lows.
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American Airlines Group Inc AAL.O jumped 24.5% after the airline revealed plans to fly more than 55% of its July 2019 domestic capacity and boost its U.S. flight schedule next month. U.S. weekly jobless claims drop below 2 million Nasdaq 100 index hits record high American Airlines up on plans to boost U.S. flights in July Charles Schwab, TD Ameritrade rise as DOJ approves deal Indexes: Dow flat, S&P 500 down 0.23%, Nasdaq off 0.39% Adds comments, updates prices throughout By Devik Jain and Shreyashi Sanyal June 4 (Reuters) - The S&P 500 and Nasdaq indexes edged lower in choppy trading on Thursday, as a rally fueled by hopes of a post-coronavirus economic recovery fizzled out even with weekly jobless claims dipping below 2 million for the first time since mid-March. Still, the Nasdaq 100 became the first U.S. equity index to reclaim its intraday record high, powered by the NYSE FANG+TM index .NYFANG, which includes Facebook Inc FB.O, Apple Inc AAPL.O, Amazon.com Inc AMZN.O, Netflix NFLX.O and Alphabet Inc GOOGL.O.
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American Airlines Group Inc AAL.O jumped 24.5% after the airline revealed plans to fly more than 55% of its July 2019 domestic capacity and boost its U.S. flight schedule next month. U.S. weekly jobless claims drop below 2 million Nasdaq 100 index hits record high American Airlines up on plans to boost U.S. flights in July Charles Schwab, TD Ameritrade rise as DOJ approves deal Indexes: Dow flat, S&P 500 down 0.23%, Nasdaq off 0.39% Adds comments, updates prices throughout By Devik Jain and Shreyashi Sanyal June 4 (Reuters) - The S&P 500 and Nasdaq indexes edged lower in choppy trading on Thursday, as a rally fueled by hopes of a post-coronavirus economic recovery fizzled out even with weekly jobless claims dipping below 2 million for the first time since mid-March. Still, the Nasdaq 100 became the first U.S. equity index to reclaim its intraday record high, powered by the NYSE FANG+TM index .NYFANG, which includes Facebook Inc FB.O, Apple Inc AAPL.O, Amazon.com Inc AMZN.O, Netflix NFLX.O and Alphabet Inc GOOGL.O.
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2ecabbed-775a-4a8a-9207-c33085fc9798
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5780.0
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2020-06-04 00:00:00 UTC
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American Airlines soars on news it will boost U.S. flights in July
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AAL
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https://www.nasdaq.com/articles/american-airlines-soars-on-news-it-will-boost-u.s.-flights-in-july-2020-06-04
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By comparison, American flew just 20% of its domestic schedule in May and is flying 25% in June, said Vasu Raja, American Airlines' senior vice president of network strategy.
"As an airline, we've consciously bet on demand coming back. We have bet the economy," Raja said, noting American has been operating a larger schedule than U.S. rivals.
Raja told Reuters that the airline would fly just over 4,000 flights on peak days in July compared with nearly 2,000 on peak days in May. That is still down from the peak 6,800 daily flights before the crisis.
Other U.S. carriers are also adding flights to summer schedules.
In total, American plans to fly 40% of July 2019 capacity.
The airline is boosting flights from New York City airports, Los Angeles and Washington and adding flights from its Dallas Fort Worth and Charlotte hubs. It is also increasing flights to major cities in Florida, Gulf Coast cities and mountain destinations as national parks and outdoor recreational spaces reopen.
In late May, the airline carried a daily average of about 110,000 customers – an increase of 71% over the 32,000 daily average the airline served in April, but still far below last year. Load factors rose to 55% by late May.
American plans to resume service to additional European and Latin American destinations in August. It will resume service to Rio de Janeiro, Brazil from Miami on July 7.
(Reporting by David Shepardson; Editing by Christopher Cushing and Steve Orlofsky)
((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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We have bet the economy," Raja said, noting American has been operating a larger schedule than U.S. rivals. It will resume service to Rio de Janeiro, Brazil from Miami on July 7. (Reporting by David Shepardson; Editing by Christopher Cushing and Steve Orlofsky) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By comparison, American flew just 20% of its domestic schedule in May and is flying 25% in June, said Vasu Raja, American Airlines' senior vice president of network strategy. Raja told Reuters that the airline would fly just over 4,000 flights on peak days in July compared with nearly 2,000 on peak days in May. American plans to resume service to additional European and Latin American destinations in August.
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By comparison, American flew just 20% of its domestic schedule in May and is flying 25% in June, said Vasu Raja, American Airlines' senior vice president of network strategy. Raja told Reuters that the airline would fly just over 4,000 flights on peak days in July compared with nearly 2,000 on peak days in May. In late May, the airline carried a daily average of about 110,000 customers – an increase of 71% over the 32,000 daily average the airline served in April, but still far below last year.
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That is still down from the peak 6,800 daily flights before the crisis. The airline is boosting flights from New York City airports, Los Angeles and Washington and adding flights from its Dallas Fort Worth and Charlotte hubs. American plans to resume service to additional European and Latin American destinations in August.
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6a51efda-58ac-4541-ac84-48cc9c34faac
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5781.0
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2020-06-04 00:00:00 UTC
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Why Carnival, Norwegian Cruise Line, and Avis Stocks All Rose Today
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AAL
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https://www.nasdaq.com/articles/why-carnival-norwegian-cruise-line-and-avis-stocks-all-rose-today-2020-06-04
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nan
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What happened
After four consecutive up days, the S&P 500 finally took a breather on Thursday, closing the day off 0.4%. But not all stocks fell; some ended today quite a lot higher.
Of particular interest to investors betting on the economy's recovery, shares of cruise lines Carnival (NYSE: CCL) and Norwegian Cruise Line Holdings (NYSE: NCLH) ended up 7.1% and 9%, respectively. And rental car company Avis Budget Group (NASDAQ: CAR) managed to gain 4.8% after rising nearly 12% earlier in the day.
Image source: Getty Images.
So what
Broadly speaking, these kinds of companies are representative of the health of the travel industry and of discretionary consumer spending, which have both been hit especially hard by the COVID-19 pandemic.
When people are afraid of getting sick on a cruise (or in a rental car on a vacation), that's bad for business. When governments tell people to stay at home for months on end, that's not great news for travel businesses, either. And when the Centers for Disease Control flat-out forbids cruises, that can put a company on the edge of bankruptcy.
And maybe that's why on Wednesday, Morgan Stanley took advantage of some green days on the market to finally throw in the towel and downgrade Norwegian Cruise Line stock to underweight and reinstate its underweight position on Carnival. Just a few hours after that happened, Carnival subsidiary Princess announced that it is once again postponing its resumption of operations in several markets around the world to as late as mid-September, seemingly fulfilling Morgan Stanley's prediction.
Now what
But what was the good news that apparently told investors today was the right time to buy travel stocks?
Yet another proxy for the travel industry are airline stocks. And today, American Airlines (NASDAQ: AAL) announced that its passenger traffic in May was up 71% from April. The airline also said it is increasing its domestic capacity in June to 25% of the year-ago level (after flying at 20% of capacity in May), and then growing that to 55% in July, in response to a "slow but steady rise in domestic demand."
Viewed from one angle, that means that in July, American will still be flying only about half as often as it was before the coronavirus. But the airline appears to be forecasting a faster-than-expected recovery. And that bodes well not just for American and airlines as a whole, but also for travel stocks like Carnival, Norwegian Cruise Line, and Avis Budget.
10 stocks we like better than Carnival
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 Carnival 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 Carnival. 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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And today, American Airlines (NASDAQ: AAL) announced that its passenger traffic in May was up 71% from April. So what Broadly speaking, these kinds of companies are representative of the health of the travel industry and of discretionary consumer spending, which have both been hit especially hard by the COVID-19 pandemic. Just a few hours after that happened, Carnival subsidiary Princess announced that it is once again postponing its resumption of operations in several markets around the world to as late as mid-September, seemingly fulfilling Morgan Stanley's prediction.
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And today, American Airlines (NASDAQ: AAL) announced that its passenger traffic in May was up 71% from April. Of particular interest to investors betting on the economy's recovery, shares of cruise lines Carnival (NYSE: CCL) and Norwegian Cruise Line Holdings (NYSE: NCLH) ended up 7.1% and 9%, respectively. And rental car company Avis Budget Group (NASDAQ: CAR) managed to gain 4.8% after rising nearly 12% earlier in the day.
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And today, American Airlines (NASDAQ: AAL) announced that its passenger traffic in May was up 71% from April. And maybe that's why on Wednesday, Morgan Stanley took advantage of some green days on the market to finally throw in the towel and downgrade Norwegian Cruise Line stock to underweight and reinstate its underweight position on Carnival. And that bodes well not just for American and airlines as a whole, but also for travel stocks like Carnival, Norwegian Cruise Line, and Avis Budget.
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And today, American Airlines (NASDAQ: AAL) announced that its passenger traffic in May was up 71% from April. And maybe that's why on Wednesday, Morgan Stanley took advantage of some green days on the market to finally throw in the towel and downgrade Norwegian Cruise Line stock to underweight and reinstate its underweight position on Carnival. Now what But what was the good news that apparently told investors today was the right time to buy travel stocks?
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fe7d7130-2227-4c7a-b8e5-03fa8c462eb1
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5782.0
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2020-06-04 00:00:00 UTC
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S&P 500 closes down, snapping four-day rally
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AAL
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https://www.nasdaq.com/articles/sp-500-closes-down-snapping-four-day-rally-2020-06-04-0
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nan
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nan
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By Stephen Culp
June 4 (Reuters) - The S&P 500 lost ground on Thursday as investors took profits in advance of Friday's jobs report, ending a four-day rally driven by rising economic sentiment.
The Nasdaq joined the S&P 500 in negative territory, while the blue-chip Dow posted a nominal gain.
"We were pretty overvalued going into this week," said Chris Zaccarelli, chief investment officer, Independent Advisor Alliance, Charlotte, NC. "It's not surprising to see a pullback."
Still, all three major indexes have shown remarkable resilience since their late March plunge, with the Nasdaq, the S&P 500 and the Dow about 2%, 8% and 11% below their respective record highs reached in February.
"This market has gone up so far so fast there's a lot of people saying, 'I'm going to take a little profit,'" said Jim Paulson, chief investment strategist at The Leuthold Group in Minneapolis.
Economic data showed the number of Americans filing for unemployment benefits dipped below 2 million for the first time since mid-March, and plummeting international commerce resulted in a net widening of the U.S. trade gap.
Friday's much-anticipated jobs report from the Labor Department is expected to show the U.S. unemployment rate sky-rocketing to a historic 19.7%.
Violent protests against the death of George Floyd appeared to abate overnight as prosecutors brought new charges against the officers implicated in the killing.
The European Central Bank approved a stimulus package that surpassed expectations, nearly doubling the size of its Pandemic Emergency Purchase Plan to 1.35 trillion Euros.
Its American counterpart, the U.S. Federal Reserve, is due to meet next week for its two-day policy meeting.
The Dow Jones Industrial Average .DJI rose 11.93 points, or 0.05%, to 26,281.82, the S&P 500 .SPX lost 10.52 points, or 0.34%, to 3,112.35 and the Nasdaq Composite .IXIC dropped 67.10 points, or 0.69%, to 9,615.81.
Of the 11 major sectors in the S&P 500, all but financials .SPSY, industrials .SPLRCI and materials .SPLRCM were in the red in a continuation of a rotation in cyclicals.
American Airlines Group Inc AAL.O announced it would beef up its flight schedule in July to 55% of its year-ago capacity as the U.S. economy reopens, sending its shares soaring 41.2%.
The hard-hit commercial airline industry also jumped on the news, with the ARCA Airline index .XAL gaining 10.1%.
Global online commerce platform EBay Inc EBAY.O rose 6.3% after raising current quarter forecasts due to a surge in customer orders.
The Department of Justice gave anti-trust approval for Charles Schwab Corp's SCHW.N purchase of TD Ameritrade Holding Corp AMTD.O, sending their shares up 5.5% and 9.0%, respectively.
J.M. Smucker Co SJM.N fell 4.8% after the packaged food company forecast a decline in full-year sales.
Advancing issues outnumbered declining ones on the NYSE by a 1.08-to-1 ratio; on Nasdaq, a 1.06-to-1 ratio favored advancers.
The S&P 500 posted 16 new 52-week highs and no new lows; the Nasdaq Composite recorded 52 new highs and 10 new lows.
Volume on U.S. exchanges was 14.46 billion shares, compared with the 11.68 billion average over the last 20 trading days.
(Reporting by Stephen Culp; additonal reporting by Sinead Carew; Editing by Cynthia Osterman)
((stephen.culp@thomsonreuters.com; 646-223-6076;))
The views and 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 announced it would beef up its flight schedule in July to 55% of its year-ago capacity as the U.S. economy reopens, sending its shares soaring 41.2%. By Stephen Culp June 4 (Reuters) - The S&P 500 lost ground on Thursday as investors took profits in advance of Friday's jobs report, ending a four-day rally driven by rising economic sentiment. Economic data showed the number of Americans filing for unemployment benefits dipped below 2 million for the first time since mid-March, and plummeting international commerce resulted in a net widening of the U.S. trade gap.
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American Airlines Group Inc AAL.O announced it would beef up its flight schedule in July to 55% of its year-ago capacity as the U.S. economy reopens, sending its shares soaring 41.2%. By Stephen Culp June 4 (Reuters) - The S&P 500 lost ground on Thursday as investors took profits in advance of Friday's jobs report, ending a four-day rally driven by rising economic sentiment. The Dow Jones Industrial Average .DJI rose 11.93 points, or 0.05%, to 26,281.82, the S&P 500 .SPX lost 10.52 points, or 0.34%, to 3,112.35 and the Nasdaq Composite .IXIC dropped 67.10 points, or 0.69%, to 9,615.81.
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American Airlines Group Inc AAL.O announced it would beef up its flight schedule in July to 55% of its year-ago capacity as the U.S. economy reopens, sending its shares soaring 41.2%. By Stephen Culp June 4 (Reuters) - The S&P 500 lost ground on Thursday as investors took profits in advance of Friday's jobs report, ending a four-day rally driven by rising economic sentiment. The Dow Jones Industrial Average .DJI rose 11.93 points, or 0.05%, to 26,281.82, the S&P 500 .SPX lost 10.52 points, or 0.34%, to 3,112.35 and the Nasdaq Composite .IXIC dropped 67.10 points, or 0.69%, to 9,615.81.
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American Airlines Group Inc AAL.O announced it would beef up its flight schedule in July to 55% of its year-ago capacity as the U.S. economy reopens, sending its shares soaring 41.2%. By Stephen Culp June 4 (Reuters) - The S&P 500 lost ground on Thursday as investors took profits in advance of Friday's jobs report, ending a four-day rally driven by rising economic sentiment. Friday's much-anticipated jobs report from the Labor Department is expected to show the U.S. unemployment rate sky-rocketing to a historic 19.7%.
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f929c369-8627-4642-8f4b-922bc83b4b27
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5783.0
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2020-06-04 00:00:00 UTC
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Delta Air Lines Is Ready to Fly Past the Competition
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AAL
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https://www.nasdaq.com/articles/delta-air-lines-is-ready-to-fly-past-the-competition-2020-06-04
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Delta Air Lines (NYSE:DAL) stock is positing a mini recovery of sorts. Shares are up almost 16% over the last month, a positive sign for all those who remained long on the legacy carrier despite the novel coronavirus pandemic.
Source: Markus Mainka / Shutterstock.com
It’s no secret that Covid-19 has taken a particularly brutal toll on airlines. And even though air traffic is rebounding, many companies remain forced to play the wait-and-watch game for demand to revert to normal levels.
However, I believe DAL stock has unfairly borne the brunt of the general pessimism surrounding the airline industry. The company entered the crisis with a pristine balance sheet and strong operational metrics. Unfortunately, due to the nature of the crisis, cash flows have virtually evaporated, and impairment has become a significant talking point. In response, management has scrambled to cut costs left, right & center — slashing capital expenditure budgets, and suspending dividend payments.
8 Battery Stocks That Will Seriously Power Your Portfolio
Also, the U.S. government is providing much-needed funds to make sure legacy carriers remain afloat. The combination of these factors and the increase in air traffic leads me to believe DAL stock is on track for a bull run within its industry.
Liquidity Position Is Excellent
Looking at it purely from a cash flow perspective, Delta is in a much better position than peers American Airlines (NASDAQ:AAL) and Southwest Airlines (NYSE:LUV). The dominant liquidity position is because management went into overdrive after the crisis started. So far, the legacy carrier has raised $9 billion through a mix of sale and lease-back transactions, drawdowns from credit facilities, and loans.
Source: Chart by Faizan Farooque, data sourced from filings
After the latest quarterly results, cash and cash equivalents stood at approximately $6 billion. It’s important to note here that long-term debt came in at close to $13 billion at the end of the same period. The positive thing is that just $4 billion of that debt will expire in 2020.
Apart from raising capital, the company is also slashing operational costs and capital expenditures. The company had plans to spend $3 billion on capex but that plan now stands delayed. In addition, share buybacks and dividend payments stand suspended, while operating expenses are down 50% year-on-year.
Delta is also clamping down effectively on cash burn. In March, it was spending $100 million a day, a figure that is now down to $50 million a day. Eventually, the number will go down to zero and by the end of 2020, according to the company’s estimates.
Federal Aid Will Help During the Pandemic
In April, the U.S. Department of the Treasury and major airlines reached a deal on a rescue package worth $25 billion in grants. As a part of the agreement, Delta will receive $5.4 billion, including $1.6 billion through a 10-year loan.
In exchange, Delta will issue warrants for 1% of shares at $24.39 per share over five years. The package will be an important source of funding during the pandemic and will help stave off layoffs at Delta.
U.S. Air Traffic Is on the Rise
Air traffic took a massive nosedive in March, as the pandemic gripped the entire world and the United States in particular. However, things are starting to look up.
In mid-April, the TSA screened just 685,000 passengers in an entire week. In contrast, 2.1 million passengers were screened on an average day at the start of May. The week ended May 23 saw passenger numbers unseen since mid-March. On Thursday and Friday, TSA screened 318,449 and 348,673 passengers, respectively. These are heartening signs, but they also indicate that it will be a slow recovery for airline traffic.
LATAM Bankruptcy Will Have a Major Impact on DAL Stock
In an unfortunate turn of events, South America’s LATAM Airlines (NYSE:LTM) recently LTM)%20CEO%20Roberto%20Alvo,decision%20to%20file%20for%20bankruptcy.">filed for Chapter 11 bankruptcy. Covid-19 hit the South American market hard, as several countries in the region did not react swiftly to the virus and suffered as a result. As passenger traffic quickly evaporated, the already struggling LATAM was caught off-guard.
It could not have come at a worse time for Delta as it purchased a 20% stake in LATAM for $1.9 billion through a tender offer just a few months back. That stake will likely be worthless now, but Delta was initially interested in forming a joint venture with LATAM to gain a more significant foothold in the Latin American market. That ambition is alive and well.
Both parties remain committed to the joint venture, which will tremendously help revenue growth for Delta. It’s also with noting here that the deal is very much a coup for DAL. Earlier, American Airlines was looking to ally with LATAM. However, Chile’s Supreme Court nixed the agreement, and that was when Delta swooped in for the rescue.
Before I move to the next section, it’s important to note here that LATAM’s bankruptcy highlights the softness in overseas markets at the moment. But the good thing is that Delta is taking a long-term view over here. Its investments are strategic, and that’s why they will provide long-term, sustainable benefits.
Looking Ahead
DAL stock is expected to trade at $34.10 per share in 12 months, a 30.3% upside to its current price. Meanwhile, AAL and LUV shares will trade at premiums of 15.2% and 15.7%, respectively. On a trailing 12-month basis, DAL shares trade at a price-earnings ratio of 4.82 times versus a sector P/E of 18.54, a 74.01% difference. It’s rare to see such a reliable stock trade at such a discount, further underling the attractive entry point on offer at this stage.
Revenues are estimated to normalize in 2021, after suffering an expected 54.36% drop in 2020. Protections are for the company to record a 60.71% increase in revenue, to reach $34.48 billion in 2021. Progressively, growth rates will normalize as the effects of the virus start to wane. However, it’s important to note that revenue estimates for DAL far outstrip those for American Airlines and Southwest Airlines, which you can see below.
Source: Chart by Faizan Farooque, data from S&P Global Market Intelligence
However, a word of caution: the situation is fluid and is changing with every passing day. We don’t have all the information regarding what the post-Covid-19 world will look like, but we can make educated guesses. For airlines, better health and safety precautions, along with strict regulations surrounding social distancing, will become part of the new “normal.” Nevertheless, these consensus estimates underline that we can hope for a healthier picture next year.
Final Word on DAL Stock
Airlines are one of the riskiest sectors to invest in at the moment. The situation is unlikely to change this year, but it will get progressively better. However, if you want to invest in airline stocks, your best bet is DAL. The legacy carrier is in an excellent liquidity position, has made exceptional strategic moves in overseas markets, and is ready to ride the post-crisis wave.
DAL stock is a buy for me.
Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. He has several years of experience in analyzing the stock market and was a former data journalist at S&P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio. Faizan does not directly own the securities mentioned above.
The post Delta Air Lines Is Ready to Fly Past the Competition 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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Liquidity Position Is Excellent Looking at it purely from a cash flow perspective, Delta is in a much better position than peers American Airlines (NASDAQ:AAL) and Southwest Airlines (NYSE:LUV). Meanwhile, AAL and LUV shares will trade at premiums of 15.2% and 15.7%, respectively. That stake will likely be worthless now, but Delta was initially interested in forming a joint venture with LATAM to gain a more significant foothold in the Latin American market.
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Liquidity Position Is Excellent Looking at it purely from a cash flow perspective, Delta is in a much better position than peers American Airlines (NASDAQ:AAL) and Southwest Airlines (NYSE:LUV). Meanwhile, AAL and LUV shares will trade at premiums of 15.2% and 15.7%, respectively. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Delta Air Lines (NYSE:DAL) stock is positing a mini recovery of sorts.
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Liquidity Position Is Excellent Looking at it purely from a cash flow perspective, Delta is in a much better position than peers American Airlines (NASDAQ:AAL) and Southwest Airlines (NYSE:LUV). Meanwhile, AAL and LUV shares will trade at premiums of 15.2% and 15.7%, respectively. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Delta Air Lines (NYSE:DAL) stock is positing a mini recovery of sorts.
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Liquidity Position Is Excellent Looking at it purely from a cash flow perspective, Delta is in a much better position than peers American Airlines (NASDAQ:AAL) and Southwest Airlines (NYSE:LUV). Meanwhile, AAL and LUV shares will trade at premiums of 15.2% and 15.7%, respectively. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Delta Air Lines (NYSE:DAL) stock is positing a mini recovery of sorts.
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6d81760b-2b1c-4b3d-b2df-d214ff913460
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5784.0
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2020-06-04 00:00:00 UTC
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Wall Street ends four-day rally in advance of May jobs report
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AAL
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https://www.nasdaq.com/articles/wall-street-ends-four-day-rally-in-advance-of-may-jobs-report-2020-06-04
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nan
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nan
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For a live blog on the U.S. stock market, click LIVE/ or type LIVE/ in a news window.
U.S. weekly jobless claims drop below 2 million
Nasdaq 100 index touches record high
American Airlines jumps on plans to boost U.S. flights in July
Charles Schwab, TD Ameritrade rise as DOJ okays deal
Indexes off: Dow 0.03%, S&P 500 0.30%, Nasdaq 0.37%
Updates to late afternoon, changes dateline, byline
By Stephen Culp
June 4 (Reuters) - Wall Street retreated on Thursday as investors hit the pause button in advance of Friday's jobs report, capping a four-day rally driven by rising economic sentiment.
While all three major indexes were modestly lower, they have shown remarkable resilience since their late March plunge, with the Nasdaq, the S&P 500 and the Dow now within 2%, 9% and 12% of their respective record highs reached in February.
The Nasdaq 100 .NDX briefly breached its record closing high earlier in the session.
"From the S&P 500 Index peak on February 19 to the bear market lows March 23, stocks lost 33.9%," noted Ryan Detrick, senior market strategist for LPL Financial in Charlotte, North Carolina. "Now, 50 trading days later, stocks have gained 39.6%, for the largest 50-day rally since the S&P 500 moved to 500 stocks in 1957."
"This amount of strength we've seen in the last 50 days doesn't happen in bear markets, they take place at the beginning of extended bull markets," Detrick added.
Economic data showed the number of Americans filing for unemployment benefits dipped below 2 million for the first time since mid-March, and plummeting international commerce resulted in a net widening of the U.S. trade gap.
Friday's much-anticipated jobs report from the Labor Department is expected to show the U.S. unemployment rate sky-rocketing to a historic 19.7%.
Violent protests overnight against the death of George Floyd appeared to abate as prosecutors brought new charges against the officers implicated in the killing.
The European Central Bank approved a stimulus package that surpassed expectations, nearly doubling the size of its Pandemic Emergency Purchase Plan to 1.35 trillion Euros.
Its American counterpart, the U.S. Federal Reserve, is due to meet next week for its two-day policy meeting.
The Dow Jones Industrial Average .DJI fell 8.01 points, or 0.03%, to 26,261.88, the S&P 500 .SPX lost 9.33 points, or 0.30%, to 3,113.54 and the Nasdaq Composite .IXIC dropped 35.92 points, or 0.37%, to 9,646.99.
Of the 11 major sectors in the S&P 500, all but financials .SPSY, industrials .SPLRCI and materials .SPLRCM were in the red in a continuation of a rotation in cyclicals.
American Airlines Group Inc AAL.O announced it would beef up its flight schedule in July to 55% of its year-ago capacity as the U.S. economy reopens, sending its shares soaring 30.5%.
The hard-hit commercial airline industry also jumped on the news, with the ARCA Airline index .XAL up 9.9%.
Global online commerce platform EBay Inc EBAY.O rose 6.6% after raising current quarter forecasts due to a surge in customer orders.
The Department of Justice gave anti-trust approval for Charles Schwab Corp's SCHW.N purchase of TD Ameritrade Holding Corp AMTD.O, sending their shares up 2.6% and 5.8%, respectively.
J.M. Smucker Co SJM.N fell 4.6% after the packaged food company forecast a decline in full-year sales.
Advancing issues outnumbered declining ones on the NYSE by a 1.08-to-1 ratio; on Nasdaq, a 1.14-to-1 ratio favored advancers.
The S&P 500 posted 14 new 52-week highs and no new lows; the Nasdaq Composite recorded 48 new highs and eight new lows.
(Reporting by Stephen Culp)
((stephen.culp@thomsonreuters.com; 646-223-6076;))
The views and 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 announced it would beef up its flight schedule in July to 55% of its year-ago capacity as the U.S. economy reopens, sending its shares soaring 30.5%. U.S. weekly jobless claims drop below 2 million Nasdaq 100 index touches record high American Airlines jumps on plans to boost U.S. flights in July Charles Schwab, TD Ameritrade rise as DOJ okays deal Indexes off: Dow 0.03%, S&P 500 0.30%, Nasdaq 0.37% Updates to late afternoon, changes dateline, byline By Stephen Culp June 4 (Reuters) - Wall Street retreated on Thursday as investors hit the pause button in advance of Friday's jobs report, capping a four-day rally driven by rising economic sentiment. While all three major indexes were modestly lower, they have shown remarkable resilience since their late March plunge, with the Nasdaq, the S&P 500 and the Dow now within 2%, 9% and 12% of their respective record highs reached in February.
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American Airlines Group Inc AAL.O announced it would beef up its flight schedule in July to 55% of its year-ago capacity as the U.S. economy reopens, sending its shares soaring 30.5%. U.S. weekly jobless claims drop below 2 million Nasdaq 100 index touches record high American Airlines jumps on plans to boost U.S. flights in July Charles Schwab, TD Ameritrade rise as DOJ okays deal Indexes off: Dow 0.03%, S&P 500 0.30%, Nasdaq 0.37% Updates to late afternoon, changes dateline, byline By Stephen Culp June 4 (Reuters) - Wall Street retreated on Thursday as investors hit the pause button in advance of Friday's jobs report, capping a four-day rally driven by rising economic sentiment. "From the S&P 500 Index peak on February 19 to the bear market lows March 23, stocks lost 33.9%," noted Ryan Detrick, senior market strategist for LPL Financial in Charlotte, North Carolina.
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American Airlines Group Inc AAL.O announced it would beef up its flight schedule in July to 55% of its year-ago capacity as the U.S. economy reopens, sending its shares soaring 30.5%. U.S. weekly jobless claims drop below 2 million Nasdaq 100 index touches record high American Airlines jumps on plans to boost U.S. flights in July Charles Schwab, TD Ameritrade rise as DOJ okays deal Indexes off: Dow 0.03%, S&P 500 0.30%, Nasdaq 0.37% Updates to late afternoon, changes dateline, byline By Stephen Culp June 4 (Reuters) - Wall Street retreated on Thursday as investors hit the pause button in advance of Friday's jobs report, capping a four-day rally driven by rising economic sentiment. While all three major indexes were modestly lower, they have shown remarkable resilience since their late March plunge, with the Nasdaq, the S&P 500 and the Dow now within 2%, 9% and 12% of their respective record highs reached in February.
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American Airlines Group Inc AAL.O announced it would beef up its flight schedule in July to 55% of its year-ago capacity as the U.S. economy reopens, sending its shares soaring 30.5%. For a live blog on the U.S. stock market, click LIVE/ or type LIVE/ in a news window. While all three major indexes were modestly lower, they have shown remarkable resilience since their late March plunge, with the Nasdaq, the S&P 500 and the Dow now within 2%, 9% and 12% of their respective record highs reached in February.
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47bbf2c9-472a-4b9f-9d8e-b9afc0574125
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5785.0
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2020-06-04 00:00:00 UTC
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Why Airline Shares Are Climbing Today
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AAL
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https://www.nasdaq.com/articles/why-airline-shares-are-climbing-today-2020-06-04
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nan
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nan
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What happened
Airline shares soared higher at the open on Thursday, propelled by a move by American Airlines Group (NASDAQ: AAL) to aggressively boost its flight schedule for July in response to growing demand for travel.
Shares of American were up 11% as of 10 a.m. EDT, while shares of Spirit Airlines (NYSE: SAVE) were 13% higher. The rally extended to the entire industry, with Delta Air Lines (NYSE: DAL), United Airlines Holdings (NASDAQ: UAL), Southwest Airlines (NYSE: LUV), Alaska Air Group (NYSE: ALK), JetBlue Airways (NASDAQ: JBLU), Hawaiian Holdings (NASDAQ: HA), and Allegiant Travel (NASDAQ: ALGT) all up 3% or more.
So what
Airline stocks have been hit hard by COVID-19, with global travel demand for a time falling 95% year over year due to the pandemic. All of the stocks lost half their value or more during the early days of the pandemic on fears that bankruptcies were inevitable.
The industry is stable for now, thanks to private fundraising efforts and cash provided as part of the CARES Act stimulus plan. But the added liquidity only buys the companies time. For the industry to truly recover, we're going to have to see demand, and with it revenue, return.
In recent weeks the stocks have been climbing on growing evidence suggesting the industry has bounced off the lows in demand.
Image source: American Airlines Group.
American provided a fresh boost of confidence on Thursday, saying this July it will fly more than 55% of its domestic capacity from a year ago. That's up from 20% of its schedule in May and 25% in June. International travel is also slowly returning, with American planning to fly about 20% of its July 2019 international schedule next month.
We're still in recovery mode. On peak days American will fly 4,000 flights in July, compared to 6,800 daily flights prior to the COVID-19 crisis. But the July totals are double the airline's daily average for May. American carried about 110,000 passengers per day in the last week of May, up 71% from 32,000 average daily passengers in April.
"We're seeing a slow but steady rise in domestic demand. After a careful review of data, we've built a July schedule to match," American's senior vice president, Vasu Raja, said in a statement. "Our July schedule includes the smallest year-over-year capacity reduction since March. We'll continue to look for prudent opportunities to restore service so our customers can travel whenever and wherever they are ready."
Now what
The industry is heading in the right direction, but be warned it still has a long way to go. As American shows, even with growing demand the companies are still operating at a small percentage of their capacity prior to the pandemic. Even in the best-case scenario, demand will likely take years to fully recover.
There is still a real risk of a second wave to the pandemic, or that a sluggish economy will keep lucrative corporate travelers away. American's schedule expansion is fresh evidence suggesting it's safe to buy airlines, but investors should stick to top performers and not take on unneeded risk until it's clear the pandemic is behind us.
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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What happened Airline shares soared higher at the open on Thursday, propelled by a move by American Airlines Group (NASDAQ: AAL) to aggressively boost its flight schedule for July in response to growing demand for travel. American provided a fresh boost of confidence on Thursday, saying this July it will fly more than 55% of its domestic capacity from a year ago. After a careful review of data, we've built a July schedule to match," American's senior vice president, Vasu Raja, said in a statement.
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What happened Airline shares soared higher at the open on Thursday, propelled by a move by American Airlines Group (NASDAQ: AAL) to aggressively boost its flight schedule for July in response to growing demand for travel. The rally extended to the entire industry, with Delta Air Lines (NYSE: DAL), United Airlines Holdings (NASDAQ: UAL), Southwest Airlines (NYSE: LUV), Alaska Air Group (NYSE: ALK), JetBlue Airways (NASDAQ: JBLU), Hawaiian Holdings (NASDAQ: HA), and Allegiant Travel (NASDAQ: ALGT) all up 3% or more. 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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What happened Airline shares soared higher at the open on Thursday, propelled by a move by American Airlines Group (NASDAQ: AAL) to aggressively boost its flight schedule for July in response to growing demand for travel. The rally extended to the entire industry, with Delta Air Lines (NYSE: DAL), United Airlines Holdings (NASDAQ: UAL), Southwest Airlines (NYSE: LUV), Alaska Air Group (NYSE: ALK), JetBlue Airways (NASDAQ: JBLU), Hawaiian Holdings (NASDAQ: HA), and Allegiant Travel (NASDAQ: ALGT) all up 3% or more. 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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What happened Airline shares soared higher at the open on Thursday, propelled by a move by American Airlines Group (NASDAQ: AAL) to aggressively boost its flight schedule for July in response to growing demand for travel. American provided a fresh boost of confidence on Thursday, saying this July it will fly more than 55% of its domestic capacity from a year ago. That's right -- they think these 10 stocks are even better buys.
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c123e1c7-30ab-48a6-be8b-57a2bb45ad12
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5786.0
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2020-06-04 00:00:00 UTC
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U.S. airlines gain final approval to drop services to 75 domestic airports
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AAL
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https://www.nasdaq.com/articles/u.s.-airlines-gain-final-approval-to-drop-services-to-75-domestic-airports-2020-06-04
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nan
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nan
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By David Shepardson
WASHINGTON, June 3 (Reuters) - Fifteen U.S. airlines were granted final government approval on Wednesday to temporarily halt service to 75 domestic airports as travel demand has been crushed due to the coronavirus pandemic.
The U.S. Transportation Department said all airports would continue to be served by at least one air carrier. Despite some objections to a tentative list made public on May 22, the government did not make any changes.
The U.S. airline industry has been awarded $25 billion in government payroll assistance grants to help weather the pandemic. While carriers must maintain minimum service levels to receive the assistance, many petitioned to stop service to airports with low passenger demand.
The department has previously allowed some airlines to halt service to some airports and rejected other requests.
Both United Airlines UAL.O and Delta Air Lines DAL.N won approval to halt flights to 11 airports. Allegiant Air ALGT.O was allowed to halt service to six airports, while JetBlue Airways Corp JBLU.O, Alaska Airlines ALK.N, Spirit Airlines SAVE.N and Frontier Airlines gained approval to stop flights to five airports each.
U.S. air carriers have said they are collectively burning through more than $10 billion in cash a month as travel demand remains a fraction of prior levels. They have parked more than half of their planes and cut thousands of flights.
Cities that Delta can halt service to include Aspen, Colorado; Bangor, Maine; Santa Barbara, California and Flint, Michigan.
United can halt service to airports including Chattanooga, Tennessee; Hilton Head and Myrtle Beach, South Carolina as well as Key West, Florida.
Other airlines winning approval to halt some flights include American Airlines AAL.O, Sun Country Airlines and Silver Airlines.
(Reporting by David Shepardson; Editing by Kim Coghill and Edwina Gibbs)
((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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Other airlines winning approval to halt some flights include American Airlines AAL.O, Sun Country Airlines and Silver Airlines. By David Shepardson WASHINGTON, June 3 (Reuters) - Fifteen U.S. airlines were granted final government approval on Wednesday to temporarily halt service to 75 domestic airports as travel demand has been crushed due to the coronavirus pandemic. Cities that Delta can halt service to include Aspen, Colorado; Bangor, Maine; Santa Barbara, California and Flint, Michigan.
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Other airlines winning approval to halt some flights include American Airlines AAL.O, Sun Country Airlines and Silver Airlines. Both United Airlines UAL.O and Delta Air Lines DAL.N won approval to halt flights to 11 airports. United can halt service to airports including Chattanooga, Tennessee; Hilton Head and Myrtle Beach, South Carolina as well as Key West, Florida.
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Other airlines winning approval to halt some flights include American Airlines AAL.O, Sun Country Airlines and Silver Airlines. By David Shepardson WASHINGTON, June 3 (Reuters) - Fifteen U.S. airlines were granted final government approval on Wednesday to temporarily halt service to 75 domestic airports as travel demand has been crushed due to the coronavirus pandemic. Allegiant Air ALGT.O was allowed to halt service to six airports, while JetBlue Airways Corp JBLU.O, Alaska Airlines ALK.N, Spirit Airlines SAVE.N and Frontier Airlines gained approval to stop flights to five airports each.
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Other airlines winning approval to halt some flights include American Airlines AAL.O, Sun Country Airlines and Silver Airlines. Both United Airlines UAL.O and Delta Air Lines DAL.N won approval to halt flights to 11 airports. Allegiant Air ALGT.O was allowed to halt service to six airports, while JetBlue Airways Corp JBLU.O, Alaska Airlines ALK.N, Spirit Airlines SAVE.N and Frontier Airlines gained approval to stop flights to five airports each.
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44b0f9a8-b1fe-4760-a937-be1e98e18b41
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5787.0
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2020-06-04 00:00:00 UTC
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Here’s Why Delta Is a Top Airline Stock to Buy
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AAL
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https://www.nasdaq.com/articles/heres-why-delta-is-a-top-airline-stock-to-buy-2020-06-04
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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 trying to recover from the novel coronavirus sell-off. Naturally, some have done better than others as investors try to figure out which ones to own. On the list should be Delta Air Lines (NYSE:DAL), provided investors want to buy in this group. DAL stock is up about 50% from the May low, but is still down considerably from its high.
Source: Lerner Vadim / Shutterstock.com
Despite this big rally, Delta is still down 54% from the 2020 highs. Even though the industry is enjoying a nice run, the group has a ways to go before being out of the woods.
Airlines traffic is rebounding but is still down considerably year-over-year. As long as travel continues to heat up and we don’t have a second wave of Covid-19 triggering more lockdowns, then the industry will likely continue to rally.
A Look at Airlines
The industry faces a tough situation here. Not only did the coronavirus crush traffic in the short term, it’s creating a big problem for the group’s most profitable stretch. Whether it’s Delta, American Airlines (NASDAQ:AAL), United Airlines (NASDAQ:UAL) or another, these companies generally generate their best revenue and free cash flow in the second and third quarters.
8 Battery Stocks That Will Seriously Power Your Portfolio
Even though we’re seeing a notable rise in traffic, it’s still down considerably year-over-year. Not only does that cause a drag in revenue and earnings, but it also equates to a notable cash burn situation.
Click to Enlarge
In its previous earnings report, Delta said it hopes to have its daily cash burn for the quarter down to $50 million a day.
The cash burn, loss of revenue and the time it will retake to regain pre-coronavirus capacity is why the stocks were hit so hard. It’s also what prompted Boeing’s (NYSE:BA) CEO to say it wouldn’t be a surprise if a U.S. airline went under this year.
He also predicted that the industry wouldn’t even recover 25% of its prior traffic levels by September.
But not everyone is a detractor. Barron’s recently said that Delta stock had upside, along with Southwest Airlines (NYSE:LUV). Among other reasons, they praised the companies’ balance sheet strength. Based on prior analysis, it’s true that LUV has solid financial footing.
That said, there’s a reason Warren Buffett bailed on the airlines. They may have short-term upside, but clearly, the Oracle doesn’t feel optimistic about the intermediate to long term.
Buy DAL Stock Now?
Why is DAL stock a better option than its peers? After all, Delta is still more than 50% off its 2020 high. However, that’s better than the 62% to 67.5% fall from the highs that we’ve seen in United, American and Spirit Airlines (NYSE:SAVE).
To be fair, Southwest is down less, “just” 41% from the 2020 highs.
While Delta has one of the stronger balance sheets out there and traditionally generates more free cash flow than all of its peers, these next few quarters will be rough. Q2 is the company’s best free cash flow quarter, while Q2 and Q3 are its best revenue quarters.
With less than a month less in Q2, clearly the financials will take a hit. It’s obvious that Q3 will suffer as well. The only hope in the intermediate term is that pent-up demand drives strong Q4 and Q1 results, although I wouldn’t hold my breath on that theory.
So where does that leave us?
Click to Enlarge
Source: Chart courtesy of StockCharts.com
If you’re compelled to invest in airlines, DAL stock should be atop the list. It’s got a strong balance sheet and will feel the eventual positive effects of a return to normalcy. Although, one can expect a turbulent ride.
As for the technicals, here’s what investors should keep an eye on. See if DAL stock can push through the 23.6% retracement near $28. This level has been resistance thus far, despite the overall market rally.
Above that opens the door to $34.50, where Delta finds the 38.2% retracement. On a move lower, see that the 20-day and 50-day moving averages buoy shares.
Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. Kenwell held no position in any of the aforementioned securities.
The post Here’s Why Delta Is a Top Airline Stock to Buy 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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Whether it’s Delta, American Airlines (NASDAQ:AAL), United Airlines (NASDAQ:UAL) or another, these companies generally generate their best revenue and free cash flow in the second and third quarters. Click to Enlarge In its previous earnings report, Delta said it hopes to have its daily cash burn for the quarter down to $50 million a day. The cash burn, loss of revenue and the time it will retake to regain pre-coronavirus capacity is why the stocks were hit so hard.
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Whether it’s Delta, American Airlines (NASDAQ:AAL), United Airlines (NASDAQ:UAL) or another, these companies generally generate their best revenue and free cash flow in the second and third quarters. Not only does that cause a drag in revenue and earnings, but it also equates to a notable cash burn situation. Barron’s recently said that Delta stock had upside, along with Southwest Airlines (NYSE:LUV).
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Whether it’s Delta, American Airlines (NASDAQ:AAL), United Airlines (NASDAQ:UAL) or another, these companies generally generate their best revenue and free cash flow in the second and third quarters. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Airline stocks are trying to recover from the novel coronavirus sell-off. Barron’s recently said that Delta stock had upside, along with Southwest Airlines (NYSE:LUV).
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Whether it’s Delta, American Airlines (NASDAQ:AAL), United Airlines (NASDAQ:UAL) or another, these companies generally generate their best revenue and free cash flow in the second and third quarters. DAL stock is up about 50% from the May low, but is still down considerably from its high. Barron’s recently said that Delta stock had upside, along with Southwest Airlines (NYSE:LUV).
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579008be-49ed-4149-875e-c5297651a5ad
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5788.0
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2020-06-04 00:00:00 UTC
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American Airlines to boost U.S. flights in July as economy reopens
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AAL
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https://www.nasdaq.com/articles/american-airlines-to-boost-u.s.-flights-in-july-as-economy-reopens-2020-06-04
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By comparison, American flew just 20% of its domestic schedule in May and is flying 25% in June, said Vasu Raja, American Airlines' senior vice president of network strategy.
"As an airline, we've consciously bet on demand coming back. We have bet the economy," Raja said, noting American has been operating a larger schedule than U.S. rivals.
Raja told Reuters that the airline would fly just over 4,000 flights on peak days in July compared with nearly 2,000 on peak days in May. That is still down from the peak 6,800 daily flights before the crisis.
Airlines are adding new cleaning procedures and requiring masks on board to reassure customers it is safe to travel
In total, American plans to fly 40% of July 2019 capacity.
The airline is boosting flights from New York City airports, Los Angeles and Washington and adding flights from its Dallas Fort Worth and Charlotte hubs. It is also boosting flights to major cities in Florida, Gulf Coast cities and mountain destinations as national parks and outdoor recreational spaces reopen.
In late May, the airline carried a daily average of about 110,000 customers – an increase of 71% over the 32,000 daily average the airline served in April, but still far below last year. Load factors rose to 55% by late May.
American plans to resume service to additional European and Latin American destinations in August. It will resume service to Rio de Janeiro, Brazil from Miami on July 7.
(Reporting by David Shepardson; Editing by Christopher Cushing)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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We have bet the economy," Raja said, noting American has been operating a larger schedule than U.S. rivals. Airlines are adding new cleaning procedures and requiring masks on board to reassure customers it is safe to travel In total, American plans to fly 40% of July 2019 capacity. It will resume service to Rio de Janeiro, Brazil from Miami on July 7.
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By comparison, American flew just 20% of its domestic schedule in May and is flying 25% in June, said Vasu Raja, American Airlines' senior vice president of network strategy. Raja told Reuters that the airline would fly just over 4,000 flights on peak days in July compared with nearly 2,000 on peak days in May. American plans to resume service to additional European and Latin American destinations in August.
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By comparison, American flew just 20% of its domestic schedule in May and is flying 25% in June, said Vasu Raja, American Airlines' senior vice president of network strategy. Raja told Reuters that the airline would fly just over 4,000 flights on peak days in July compared with nearly 2,000 on peak days in May. In late May, the airline carried a daily average of about 110,000 customers – an increase of 71% over the 32,000 daily average the airline served in April, but still far below last year.
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We have bet the economy," Raja said, noting American has been operating a larger schedule than U.S. rivals. That is still down from the peak 6,800 daily flights before the crisis. American plans to resume service to additional European and Latin American destinations in August.
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f15cc5f1-b56e-44ee-86e9-78d1a2bc957c
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5789.0
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2020-06-04 00:00:00 UTC
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S&P, Nasdaq set to open lower after four-day rally
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AAL
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https://www.nasdaq.com/articles/sp-nasdaq-set-to-open-lower-after-four-day-rally-2020-06-04
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nan
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By Devik Jain and Shreyashi Sanyal
June 4 (Reuters) - U.S. stock indexes were set to open lower on Thursday as a rally fueled by optimism over an economic rebound from a coronavirus-led downturn ran out of steam even with weekly jobless claims dipping below 2 million for the first time since mid-March.
Wall Street's main indexes have rebounded in the past few sessions, with the tech-heavy Nasdaq index .IXIC now 1.4% away from surpassing an all-time closing high hit in February.
"The market is due for a pause," said Christopher Grisanti, chief equity strategist at MAI Capital Management in Cleveland, Ohio.
"It's really important to realize that U.S. equity investors have been given a great gift in the middle of what is probably the deepest recession in 80 years," he said, referring to the strong run for Wall Street since late-March.
A report from the Labor Department showed new claims for state unemployment benefits totaled 1.877 million for the week ended May 30, down from 2.126 million in the prior week. Economists polled by Reuters had forecast 1.8 million initial claims in the latest week.
The focus will now shift to the closely watched employment report for May, due Friday, which is expected to show unemployment rate rocketing to 19.8%, a post-World War Two record.
Meanwhile, U.S.-China tensions continued to simmer as Hong Kong's Legislative Council passed a bill that would criminalize disrespect of China's national anthem, a move seen as the latest sign of Beijing's tightening grip on the city.
The nationwide protests over the death of an unarmed black man in police custody dwindled overnight into early Thursday after prosecutors leveled new charges against four Minneapolis policemen implicated in the killing.
At 8:34 a.m. ET, Dow e-minis 1YMcv1were down 115 points, or 0.44%. S&P 500 e-minis EScv1were down 17.25 points, or 0.55% and Nasdaq 100 e-minis NQcv1were down 25.75 points, or 0.27%.
American Airlines Group Inc AAL.O rose 8.7% premarket after the airline revealed plans to fly more than 55% of its July 2019 domestic capacity and boost its U.S. flight schedule next month.
Jif peanut butter maker J.M. Smucker Co SJM.N fell 4.4% after the company forecast a decline in full-year sales on weakness in sales to restaurants and schools.
(Reporting by Devik Jain and Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta and Uttaresh.V)
((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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American Airlines Group Inc AAL.O rose 8.7% premarket after the airline revealed plans to fly more than 55% of its July 2019 domestic capacity and boost its U.S. flight schedule next month. By Devik Jain and Shreyashi Sanyal June 4 (Reuters) - U.S. stock indexes were set to open lower on Thursday as a rally fueled by optimism over an economic rebound from a coronavirus-led downturn ran out of steam even with weekly jobless claims dipping below 2 million for the first time since mid-March. Meanwhile, U.S.-China tensions continued to simmer as Hong Kong's Legislative Council passed a bill that would criminalize disrespect of China's national anthem, a move seen as the latest sign of Beijing's tightening grip on the city.
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American Airlines Group Inc AAL.O rose 8.7% premarket after the airline revealed plans to fly more than 55% of its July 2019 domestic capacity and boost its U.S. flight schedule next month. By Devik Jain and Shreyashi Sanyal June 4 (Reuters) - U.S. stock indexes were set to open lower on Thursday as a rally fueled by optimism over an economic rebound from a coronavirus-led downturn ran out of steam even with weekly jobless claims dipping below 2 million for the first time since mid-March. Economists polled by Reuters had forecast 1.8 million initial claims in the latest week.
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American Airlines Group Inc AAL.O rose 8.7% premarket after the airline revealed plans to fly more than 55% of its July 2019 domestic capacity and boost its U.S. flight schedule next month. By Devik Jain and Shreyashi Sanyal June 4 (Reuters) - U.S. stock indexes were set to open lower on Thursday as a rally fueled by optimism over an economic rebound from a coronavirus-led downturn ran out of steam even with weekly jobless claims dipping below 2 million for the first time since mid-March. A report from the Labor Department showed new claims for state unemployment benefits totaled 1.877 million for the week ended May 30, down from 2.126 million in the prior week.
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American Airlines Group Inc AAL.O rose 8.7% premarket after the airline revealed plans to fly more than 55% of its July 2019 domestic capacity and boost its U.S. flight schedule next month. By Devik Jain and Shreyashi Sanyal June 4 (Reuters) - U.S. stock indexes were set to open lower on Thursday as a rally fueled by optimism over an economic rebound from a coronavirus-led downturn ran out of steam even with weekly jobless claims dipping below 2 million for the first time since mid-March. "The market is due for a pause," said Christopher Grisanti, chief equity strategist at MAI Capital Management in Cleveland, Ohio.
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a73b1cd8-c86b-447a-9672-bf73c36e6631
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5790.0
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2020-06-04 00:00:00 UTC
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American Airlines is Adding Back Capacity as Demand Returns
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AAL
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https://www.nasdaq.com/articles/american-airlines-is-adding-back-capacity-as-demand-returns-2020-06-04
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nan
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American Airlines Group (NASDAQ: AAL) is gearing up for a busier summer flying season after seeing improving demand in May. The airline announced that it now plans to fly 55% of its domestic schedule and 20% of international flights in July, compared to last year's capacity. This comes after data from May flights showed a jump of 71% of average daily customers versus April.
A week ago, it was reported that the airline was planning cutting more than 5,000 managerial and administrative staff as it planned on "rightsizing the airline and its cost structure." Today the airline said, "we're seeing a slow but steady rise in domestic demand. After a careful review of data, we've built a July schedule to match."
Image source: Getty Images.
The airlines July flight schedule marks the lowest year-over-year capacity reduction it has seen since March. Data provided by the company showed that its average load factor increased from 15% in April, 2020, to 41% in the first three weeks of May, to 55% in the last week of the month. International demand has been slower to return, though, and it said it was going to delay the return of some previously announced international routes until August.
The company is also offering incentives in a "Summer of Deals" promotion that includes doubling frequent flier mileage for flights booked during June for travel prior to Sept. 30, 2020. The airline is also trying to boost customer confidence by focusing on cleaning and distancing procedures. In its Admiral Club lounges, the company said it was adding foot-operated doors for touchless access to restrooms, new plexiglass shields, sanitizer stations, and signage for proper distancing.
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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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American Airlines Group (NASDAQ: AAL) is gearing up for a busier summer flying season after seeing improving demand in May. The company is also offering incentives in a "Summer of Deals" promotion that includes doubling frequent flier mileage for flights booked during June for travel prior to Sept. 30, 2020. In its Admiral Club lounges, the company said it was adding foot-operated doors for touchless access to restrooms, new plexiglass shields, sanitizer stations, and signage for proper distancing.
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American Airlines Group (NASDAQ: AAL) is gearing up for a busier summer flying season after seeing improving demand in May. The airline announced that it now plans to fly 55% of its domestic schedule and 20% of international flights in July, compared to last year's capacity. The airlines July flight schedule marks the lowest year-over-year capacity reduction it has seen since March.
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American Airlines Group (NASDAQ: AAL) is gearing up for a busier summer flying season after seeing improving demand in May. The airline announced that it now plans to fly 55% of its domestic schedule and 20% of international flights in July, compared to last year's capacity. 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) is gearing up for a busier summer flying season after seeing improving demand in May. The airline announced that it now plans to fly 55% of its domestic schedule and 20% of international flights in July, compared to last year's capacity. This comes after data from May flights showed a jump of 71% of average daily customers versus April.
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481833a5-a2bd-45d3-9782-620c3ed994ba
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5791.0
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2020-06-04 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Cloudera, Qutoutiao, Kirkland's
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AAL
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-cloudera-qutoutiao-kirklands-2020-06-04
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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 lower on Thursday as a rally fueled by hopes of an economic rebound from a coronavirus-led downturn ran out of steam even with weekly jobless claims dipping below 2 million for the first time since mid-March. .N
At 9:30 ET, the Dow Jones Industrial Average .DJI was down 0.34% at 26,180.36. The S&P 500 .SPX was down 0.38% at 3,110.9 and the Nasdaq Composite .IXIC was down 0.12% at 9,671.041. The top three S&P 500 .PG.INX percentage gainers: ** American Airlines Gp , up 9.4% ** Ebay Inc , up 8.2% ** Coty Inc , up 6.7% The top three S&P 500 .PL.INX percentage losers: ** Harley-Davidson , down 3.9% ** Pvh Corp , down 3.3% ** Occidental Petroleum , down 3.2% The top three NYSE .PG.N percentage gainers: ** Medley Llc , up 22.1% ** KraneShares Electric Vehicles , up 16.8% ** Eagle Point Income Company , up 12.8% The top three NYSE .PL.N percentage losers: ** Smartsheet Inc , down 18.3% ** Cloudera Inc , down 9.1% ** Urstadt Biddle Properties , down 9% The top three Nasdaq .PG.O percentage gainers: ** Cinedigm Corp , up 262.6% ** Dolphin Entertainment , up 143.8% ** Roshill Resources , up 87.1% The top three Nasdaq .PL.O percentage losers: ** Hebron Tech Co , down 21.3% ** Summit Wireless Technologies , down 20.2% ** Oxford Lane Capital corp , down 17.5% ** Qutoutiao Inc QTT.O: up 7.0%
BUZZ-Rises on strong Q1 results ** Cloudera Inc CLDR.N: down 9.0%
BUZZ-Drops on downbeat revenue forecast ** Royal Caribbean Cruises RCL.N: down 2.3%
BUZZ-Falls co launches $2 bln convertible, notes offerings ** Inovio Pharmaceuticals INO.O: up 2.0%
BUZZ-Up on plans to begin human trials of COVID-19 vaccine in South Korea ** J M Smucker co SJM.N: down 2.8%
BUZZ-Falls on gloomy fiscal 2021 sales forecast ** Kirkland's Inc KIRK.O: down 12.0%
BUZZ-Falls as Q1 adjusted loss widens on coronavirus-led store closures ** Planet Fitness PLNT.N: down 2.8%
BUZZ-Falls as Raymond James downgrades on stretched valuation ** Smartsheet Inc SMAR.N: down 18.3%
BUZZ-Sinks, analysts say sell-off overdone ** NMI Holdings Inc NMIH.O: down 5.4%
BUZZ-Falls after pricing $200 mln stock offering ** Nio Inc NIO.N: up 2.5%
BUZZ-Gains on "record" May deliveries ** BioXcel Therapeutics Inc BTAI.O: up 8.9%
BUZZ-Guggenheim starts coverage with 'buy'
** JinkoSolar Holding Co JKS.N: up 11.4%
BUZZ-: Jumps on favorable decision in U.S. ITC patent investigation ** Walgreens Boots Alliance Inc WBA.O: down 1.7%
BUZZ-Mizuho cuts Walgreens PT on low earnings visibility
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
down 0.13%
Consumer Discretionary
.SPLRCD
down 0.08%
Consumer Staples
.SPLRCS
down 0.04%
Energy
.SPNY
down 1.40%
Financial
.SPSY
down 0.81%
Health
.SPXHC
down 0.28%
Industrial
.SPLRCI
down 0.46%
Information Technology
.SPLRCT
down 0.32%
Materials
.SPLRCM
down 0.37%
Real Estate
.SPLRCR
down 0.90%
Utilities
.SPLRCU
down 0.72%
(Reporting 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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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 lower on Thursday as a rally fueled by hopes of an economic rebound from a coronavirus-led downturn ran out of steam even with weekly jobless claims dipping below 2 million for the first time since mid-March. The top three S&P 500 .PG.INX percentage gainers: ** American Airlines Gp , up 9.4% ** Ebay Inc , up 8.2% ** Coty Inc , up 6.7% The top three S&P 500 .PL.INX percentage losers: ** Harley-Davidson , down 3.9% ** Pvh Corp , down 3.3% ** Occidental Petroleum , down 3.2% The top three NYSE .PG.N percentage gainers: ** Medley Llc , up 22.1% ** KraneShares Electric Vehicles , up 16.8% ** Eagle Point Income Company , up 12.8% The top three NYSE .PL.N percentage losers: ** Smartsheet Inc , down 18.3% ** Cloudera Inc , down 9.1% ** Urstadt Biddle Properties , down 9% The top three Nasdaq .PG.O percentage gainers: ** Cinedigm Corp , up 262.6% ** Dolphin Entertainment , up 143.8% ** Roshill Resources , up 87.1% The top three Nasdaq .PL.O percentage losers: ** Hebron Tech Co , down 21.3% ** Summit Wireless Technologies , down 20.2% ** Oxford Lane Capital corp , down 17.5% ** Qutoutiao Inc QTT.O: up 7.0% BUZZ-Rises on strong Q1 results ** Cloudera Inc CLDR.N: down 9.0% BUZZ-Drops on downbeat revenue forecast ** Royal Caribbean Cruises RCL.N: down 2.3% BUZZ-Falls co launches $2 bln convertible, notes offerings ** Inovio Pharmaceuticals INO.O: up 2.0% BUZZ-Up on plans to begin human trials of COVID-19 vaccine in South Korea ** J M Smucker co SJM.N: down 2.8% BUZZ-Falls on gloomy fiscal 2021 sales forecast ** Kirkland's Inc KIRK.O: down 12.0% BUZZ-Falls as Q1 adjusted loss widens on coronavirus-led store closures ** Planet Fitness PLNT.N: down 2.8% BUZZ-Falls as Raymond James downgrades on stretched valuation ** Smartsheet Inc SMAR.N: down 18.3% BUZZ-Sinks, analysts say sell-off overdone ** NMI Holdings Inc NMIH.O: down 5.4% BUZZ-Falls after pricing $200 mln stock offering ** Nio Inc NIO.N: up 2.5% BUZZ-Gains on "record" May deliveries ** BioXcel Therapeutics Inc BTAI.O: up 8.9% BUZZ-Guggenheim starts coverage with 'buy' ** JinkoSolar Holding Co JKS.N: up 11.4% BUZZ-: Jumps on favorable decision in U.S. ITC patent investigation ** Walgreens Boots Alliance Inc WBA.O: down 1.7% BUZZ-Mizuho cuts Walgreens PT on low earnings visibility The 11 major S&P 500 sectors: Communication Services down 0.72% (Reporting 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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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 lower on Thursday as a rally fueled by hopes of an economic rebound from a coronavirus-led downturn ran out of steam even with weekly jobless claims dipping below 2 million for the first time since mid-March. The top three S&P 500 .PG.INX percentage gainers: ** American Airlines Gp , up 9.4% ** Ebay Inc , up 8.2% ** Coty Inc , up 6.7% The top three S&P 500 .PL.INX percentage losers: ** Harley-Davidson , down 3.9% ** Pvh Corp , down 3.3% ** Occidental Petroleum , down 3.2% The top three NYSE .PG.N percentage gainers: ** Medley Llc , up 22.1% ** KraneShares Electric Vehicles , up 16.8% ** Eagle Point Income Company , up 12.8% The top three NYSE .PL.N percentage losers: ** Smartsheet Inc , down 18.3% ** Cloudera Inc , down 9.1% ** Urstadt Biddle Properties , down 9% The top three Nasdaq .PG.O percentage gainers: ** Cinedigm Corp , up 262.6% ** Dolphin Entertainment , up 143.8% ** Roshill Resources , up 87.1% The top three Nasdaq .PL.O percentage losers: ** Hebron Tech Co , down 21.3% ** Summit Wireless Technologies , down 20.2% ** Oxford Lane Capital corp , down 17.5% ** Qutoutiao Inc QTT.O: up 7.0% BUZZ-Rises on strong Q1 results ** Cloudera Inc CLDR.N: down 9.0% BUZZ-Drops on downbeat revenue forecast ** Royal Caribbean Cruises RCL.N: down 2.3% BUZZ-Falls co launches $2 bln convertible, notes offerings ** Inovio Pharmaceuticals INO.O: up 2.0% BUZZ-Up on plans to begin human trials of COVID-19 vaccine in South Korea ** J M Smucker co SJM.N: down 2.8% BUZZ-Falls on gloomy fiscal 2021 sales forecast ** Kirkland's Inc KIRK.O: down 12.0% BUZZ-Falls as Q1 adjusted loss widens on coronavirus-led store closures ** Planet Fitness PLNT.N: down 2.8% BUZZ-Falls as Raymond James downgrades on stretched valuation ** Smartsheet Inc SMAR.N: down 18.3% BUZZ-Sinks, analysts say sell-off overdone ** NMI Holdings Inc NMIH.O: down 5.4% BUZZ-Falls after pricing $200 mln stock offering ** Nio Inc NIO.N: up 2.5% BUZZ-Gains on "record" May deliveries ** BioXcel Therapeutics Inc BTAI.O: up 8.9% BUZZ-Guggenheim starts coverage with 'buy' ** JinkoSolar Holding Co JKS.N: up 11.4% BUZZ-: Jumps on favorable decision in U.S. ITC patent investigation ** Walgreens Boots Alliance Inc WBA.O: down 1.7% BUZZ-Mizuho cuts Walgreens PT on low earnings visibility The 11 major S&P 500 sectors: Communication Services down 0.72% (Reporting 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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.N At 9:30 ET, the Dow Jones Industrial Average .DJI was down 0.34% at 26,180.36. The top three S&P 500 .PG.INX percentage gainers: ** American Airlines Gp , up 9.4% ** Ebay Inc , up 8.2% ** Coty Inc , up 6.7% The top three S&P 500 .PL.INX percentage losers: ** Harley-Davidson , down 3.9% ** Pvh Corp , down 3.3% ** Occidental Petroleum , down 3.2% The top three NYSE .PG.N percentage gainers: ** Medley Llc , up 22.1% ** KraneShares Electric Vehicles , up 16.8% ** Eagle Point Income Company , up 12.8% The top three NYSE .PL.N percentage losers: ** Smartsheet Inc , down 18.3% ** Cloudera Inc , down 9.1% ** Urstadt Biddle Properties , down 9% The top three Nasdaq .PG.O percentage gainers: ** Cinedigm Corp , up 262.6% ** Dolphin Entertainment , up 143.8% ** Roshill Resources , up 87.1% The top three Nasdaq .PL.O percentage losers: ** Hebron Tech Co , down 21.3% ** Summit Wireless Technologies , down 20.2% ** Oxford Lane Capital corp , down 17.5% ** Qutoutiao Inc QTT.O: up 7.0% BUZZ-Rises on strong Q1 results ** Cloudera Inc CLDR.N: down 9.0% BUZZ-Drops on downbeat revenue forecast ** Royal Caribbean Cruises RCL.N: down 2.3% BUZZ-Falls co launches $2 bln convertible, notes offerings ** Inovio Pharmaceuticals INO.O: up 2.0% BUZZ-Up on plans to begin human trials of COVID-19 vaccine in South Korea ** J M Smucker co SJM.N: down 2.8% BUZZ-Falls on gloomy fiscal 2021 sales forecast ** Kirkland's Inc KIRK.O: down 12.0% BUZZ-Falls as Q1 adjusted loss widens on coronavirus-led store closures ** Planet Fitness PLNT.N: down 2.8% BUZZ-Falls as Raymond James downgrades on stretched valuation ** Smartsheet Inc SMAR.N: down 18.3% BUZZ-Sinks, analysts say sell-off overdone ** NMI Holdings Inc NMIH.O: down 5.4% BUZZ-Falls after pricing $200 mln stock offering ** Nio Inc NIO.N: up 2.5% BUZZ-Gains on "record" May deliveries ** BioXcel Therapeutics Inc BTAI.O: up 8.9% BUZZ-Guggenheim starts coverage with 'buy' ** JinkoSolar Holding Co JKS.N: up 11.4% BUZZ-: Jumps on favorable decision in U.S. ITC patent investigation ** Walgreens Boots Alliance Inc WBA.O: down 1.7% BUZZ-Mizuho cuts Walgreens PT on low earnings visibility The 11 major S&P 500 sectors: Communication Services down 0.13% Consumer Discretionary
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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 lower on Thursday as a rally fueled by hopes of an economic rebound from a coronavirus-led downturn ran out of steam even with weekly jobless claims dipping below 2 million for the first time since mid-March. .N At 9:30 ET, the Dow Jones Industrial Average .DJI was down 0.34% at 26,180.36. The S&P 500 .SPX was down 0.38% at 3,110.9 and the Nasdaq Composite .IXIC was down 0.12% at 9,671.041.
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edec5e52-75d3-47e6-a75c-273c7152673e
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5792.0
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2020-06-04 00:00:00 UTC
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S&P 500 Movers: OXY, AAL
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AAL
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https://www.nasdaq.com/articles/sp-500-movers%3A-oxy-aal-2020-06-04
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nan
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nan
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In early trading on Thursday, shares of American Airlines Group topped the list of the day's best performing components of the S&P 500 index, trading up 11.1%. Year to date, American Airlines Group has lost about 54.1% of its value.
And the worst performing S&P 500 component thus far on the day is Occidental Petroleum, trading down 3.6%. Occidental Petroleum is lower by about 63.9% looking at the year to date performance.
Two other components making moves today are Essex Property Trust, trading down 3.5%, and Coty, trading up 7.1% on the day.
VIDEO: S&P 500 Movers: OXY, AAL
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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VIDEO: S&P 500 Movers: OXY, AAL The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Year to date, American Airlines Group has lost about 54.1% of its value. And the worst performing S&P 500 component thus far on the day is Occidental Petroleum, trading down 3.6%.
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VIDEO: S&P 500 Movers: OXY, AAL The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In early trading on Thursday, shares of American Airlines Group topped the list of the day's best performing components of the S&P 500 index, trading up 11.1%. Year to date, American Airlines Group has lost about 54.1% of its value.
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VIDEO: S&P 500 Movers: OXY, AAL The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In early trading on Thursday, shares of American Airlines Group topped the list of the day's best performing components of the S&P 500 index, trading up 11.1%. And the worst performing S&P 500 component thus far on the day is Occidental Petroleum, trading down 3.6%.
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VIDEO: S&P 500 Movers: OXY, AAL The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In early trading on Thursday, shares of American Airlines Group topped the list of the day's best performing components of the S&P 500 index, trading up 11.1%. And the worst performing S&P 500 component thus far on the day is Occidental Petroleum, trading down 3.6%.
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6d6fbef7-29db-4b64-8b8a-6f841681d4a9
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5793.0
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2020-06-04 00:00:00 UTC
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Tech stocks boost Nasdaq as recovery optimism prevails
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AAL
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https://www.nasdaq.com/articles/tech-stocks-boost-nasdaq-as-recovery-optimism-prevails-2020-06-04
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nan
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nan
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For a live blog on the U.S. stock market, click LIVE/ or type LIVE/ in a news window.
U.S. new weekly jobless claims drop below 2 million
J.M. Smucker falls on weak sales forecast for 2021
American Airlines up on plans to boost U.S. flights in July
Charles Schwab, TD Ameritrade rise as DOJ approves deal
Indexes: Dow off 0.05%, S&P 500 down 0.09%, Nasdaq up 0.22%
Updates to open
By Devik Jain and Shreyashi Sanyal
June 4 (Reuters) - A rally in tech shares drove the Nasdaq index higher on Thursday, with weekly jobless claims dipping below 2 million for the first time since mid-March bolstering optimism around an economic rebound from the coronavirus-driven slump.
The NYSE FANG+TM Index .NYFANG, which includes Facebook Inc FB.O, Apple AAPL.O, Amazon.com Inc AMZN.O, Netflix NFLX.O and Alphabet Inc GOOGL.O, hit an intraday record high in morning trading.
But the S&P 500 and the Dow Jones indexes pulled back slightly after gaining earlier this week.
"The market is due for a pause," said Christopher Grisanti, chief equity strategist at MAI Capital Management in Cleveland, Ohio.
"It's really important to realize that U.S. equity investors have been given a great gift in the middle of what is probably the deepest recession in 80 years," he said, referring to the strong run for Wall Street since late-March.
Wall Street's main indexes have recovered sharply from their March lows and the tech-heavy Nasdaq index .IXIC is now only 1.3% away from surpassing its all-time closing high hit in February.
A report from the Labor Department showed new claims for state unemployment benefits totaled 1.877 million for the week ended May 30, down from 2.126 million in the prior week. Economists polled by Reuters had forecast 1.8 million initial claims in the latest week.
The focus will now shift to the closely watched employment report for May, due Friday, which is expected to show unemployment rate rocketing to 19.8%, a post-World War Two record.
At 9:57 a.m. ET the Dow Jones Industrial Average .DJI was down 13.07 points, or 0.05%, at 26,256.82, the S&P 500 .SPX was down 2.74 points, or 0.09%, at 3,120.13 and the Nasdaq Composite .IXIC was up 21.04 points, or 0.22%, at 9,703.95.
American Airlines Group Inc AAL.O jumped 11.0% after the airline revealed plans to fly more than 55% of its July 2019 domestic capacity and boost its U.S. flight schedule next month.
Jif peanut butter maker J.M. Smucker Co SJM.N fell 2.3% after the company forecast a decline in full-year sales on weakness in sales to restaurants and schools.
Charles Schwab Corp SCHW.N gained 0.5% after it received an anti-trust approval from the Department of Justice for its purchase of TD Ameritrade Holding Corp AMTD.O. Shares of TD Ameritrade jumped 3.5%.
EBay Inc EBAY.O jumped 7.1% after it raised its current-quarter revenue and profit forecast, as people stuck at home ordered more from its platform due to the COVID-19 pandemic.
Declining issues outnumbered advancers more than 2-to-1 on the NYSE and nearly matched them on the Nasdaq.
The S&P index recorded eight new 52-week highs and no new low, while the Nasdaq recorded 29 new highs and one new low.
(Reporting by Devik Jain and Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta and Uttaresh.V)
((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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American Airlines Group Inc AAL.O jumped 11.0% after the airline revealed plans to fly more than 55% of its July 2019 domestic capacity and boost its U.S. flight schedule next month. Smucker falls on weak sales forecast for 2021 American Airlines up on plans to boost U.S. flights in July Charles Schwab, TD Ameritrade rise as DOJ approves deal Indexes: Dow off 0.05%, S&P 500 down 0.09%, Nasdaq up 0.22% Updates to open By Devik Jain and Shreyashi Sanyal June 4 (Reuters) - A rally in tech shares drove the Nasdaq index higher on Thursday, with weekly jobless claims dipping below 2 million for the first time since mid-March bolstering optimism around an economic rebound from the coronavirus-driven slump. "It's really important to realize that U.S. equity investors have been given a great gift in the middle of what is probably the deepest recession in 80 years," he said, referring to the strong run for Wall Street since late-March.
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American Airlines Group Inc AAL.O jumped 11.0% after the airline revealed plans to fly more than 55% of its July 2019 domestic capacity and boost its U.S. flight schedule next month. Smucker falls on weak sales forecast for 2021 American Airlines up on plans to boost U.S. flights in July Charles Schwab, TD Ameritrade rise as DOJ approves deal Indexes: Dow off 0.05%, S&P 500 down 0.09%, Nasdaq up 0.22% Updates to open By Devik Jain and Shreyashi Sanyal June 4 (Reuters) - A rally in tech shares drove the Nasdaq index higher on Thursday, with weekly jobless claims dipping below 2 million for the first time since mid-March bolstering optimism around an economic rebound from the coronavirus-driven slump. Charles Schwab Corp SCHW.N gained 0.5% after it received an anti-trust approval from the Department of Justice for its purchase of TD Ameritrade Holding Corp AMTD.O.
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American Airlines Group Inc AAL.O jumped 11.0% after the airline revealed plans to fly more than 55% of its July 2019 domestic capacity and boost its U.S. flight schedule next month. Smucker falls on weak sales forecast for 2021 American Airlines up on plans to boost U.S. flights in July Charles Schwab, TD Ameritrade rise as DOJ approves deal Indexes: Dow off 0.05%, S&P 500 down 0.09%, Nasdaq up 0.22% Updates to open By Devik Jain and Shreyashi Sanyal June 4 (Reuters) - A rally in tech shares drove the Nasdaq index higher on Thursday, with weekly jobless claims dipping below 2 million for the first time since mid-March bolstering optimism around an economic rebound from the coronavirus-driven slump. Wall Street's main indexes have recovered sharply from their March lows and the tech-heavy Nasdaq index .IXIC is now only 1.3% away from surpassing its all-time closing high hit in February.
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American Airlines Group Inc AAL.O jumped 11.0% after the airline revealed plans to fly more than 55% of its July 2019 domestic capacity and boost its U.S. flight schedule next month. U.S. new weekly jobless claims drop below 2 million J.M. Smucker falls on weak sales forecast for 2021 American Airlines up on plans to boost U.S. flights in July Charles Schwab, TD Ameritrade rise as DOJ approves deal Indexes: Dow off 0.05%, S&P 500 down 0.09%, Nasdaq up 0.22% Updates to open By Devik Jain and Shreyashi Sanyal June 4 (Reuters) - A rally in tech shares drove the Nasdaq index higher on Thursday, with weekly jobless claims dipping below 2 million for the first time since mid-March bolstering optimism around an economic rebound from the coronavirus-driven slump.
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ac37a505-f32e-46ec-92ee-49ba3c8a4048
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5794.0
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2020-06-04 00:00:00 UTC
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Thursday Sector Leaders: Industrial, Energy
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AAL
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https://www.nasdaq.com/articles/thursday-sector-leaders%3A-industrial-energy-2020-06-04
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nan
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nan
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The best performing sector as of midday Thursday is the Industrial sector, higher by 1.1%. Within that group, American Airlines Group Inc (Symbol: AAL) and United Airlines Holdings Inc (Symbol: UAL) are two large stocks leading the way, showing a gain of 36.8% and 16.3%, respectively. Among industrial ETFs, one ETF following the sector is the Industrial Select Sector SPDR ETF (Symbol: XLI), which is up 0.7% on the day, and down 11.29% year-to-date. American Airlines Group Inc, meanwhile, is down 43.13% year-to-date, and United Airlines Holdings Inc, is down 55.57% year-to-date. Combined, AAL and UAL make up approximately 0.6% of the underlying holdings of XLI.
The next best performing sector is the Energy sector, up 1.1%. Among large Energy stocks, Schlumberger Ltd (Symbol: SLB) and Apache Corp (Symbol: APA) are the most notable, showing a gain of 4.5% and 4.2%, respectively. One ETF closely tracking Energy stocks is the Energy Select Sector SPDR ETF (XLE), which is up 0.2% in midday trading, and down 29.39% on a year-to-date basis. Schlumberger Ltd, meanwhile, is down 47.45% year-to-date, and Apache Corp, is down 47.89% year-to-date. Combined, SLB and APA make up approximately 4.8% of the underlying holdings of XLE.
Comparing these stocks and ETFs on a trailing twelve month basis, below is a relative stock price performance chart, with each of the symbols shown in a different color as labeled in the legend at the bottom:
Here's a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Thursday. As you can see, six sectors are up on the day, while three sectors are down.
SECTOR % CHANGE
Industrial +1.1%
Energy +1.1%
Financial +1.0%
Services +0.4%
Consumer Products +0.2%
Materials +0.2%
Technology & Communications -0.3%
Healthcare -0.5%
Utilities -2.2%
10 ETFs With Stocks That Insiders Are Buying »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Combined, AAL and UAL make up approximately 0.6% of the underlying holdings of XLI. Within that group, American Airlines Group Inc (Symbol: AAL) and United Airlines Holdings Inc (Symbol: UAL) are two large stocks leading the way, showing a gain of 36.8% and 16.3%, respectively. Comparing these stocks and ETFs on a trailing twelve month basis, below is a relative stock price performance chart, with each of the symbols shown in a different color as labeled in the legend at the bottom: Here's a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Thursday.
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Within that group, American Airlines Group Inc (Symbol: AAL) and United Airlines Holdings Inc (Symbol: UAL) are two large stocks leading the way, showing a gain of 36.8% and 16.3%, respectively. Combined, AAL and UAL make up approximately 0.6% of the underlying holdings of XLI. Among industrial ETFs, one ETF following the sector is the Industrial Select Sector SPDR ETF (Symbol: XLI), which is up 0.7% on the day, and down 11.29% year-to-date.
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Within that group, American Airlines Group Inc (Symbol: AAL) and United Airlines Holdings Inc (Symbol: UAL) are two large stocks leading the way, showing a gain of 36.8% and 16.3%, respectively. Combined, AAL and UAL make up approximately 0.6% of the underlying holdings of XLI. Among industrial ETFs, one ETF following the sector is the Industrial Select Sector SPDR ETF (Symbol: XLI), which is up 0.7% on the day, and down 11.29% year-to-date.
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Within that group, American Airlines Group Inc (Symbol: AAL) and United Airlines Holdings Inc (Symbol: UAL) are two large stocks leading the way, showing a gain of 36.8% and 16.3%, respectively. Combined, AAL and UAL make up approximately 0.6% of the underlying holdings of XLI. The best performing sector as of midday Thursday is the Industrial sector, higher by 1.1%.
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08859e4d-cf9f-4108-98ce-b787c4eb8a0d
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5795.0
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2020-06-04 00:00:00 UTC
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AAL July 24th Options Begin Trading
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AAL
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https://www.nasdaq.com/articles/aal-july-24th-options-begin-trading-2020-06-04
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nan
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nan
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Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading today, for the July 24th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new July 24th contracts and identified one put and one call contract of particular interest.
The put contract at the $9.00 strike price has a current bid of 20 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $9.00, but will also collect the premium, putting the cost basis of the shares at $8.80 (before broker commissions). To an investor already interested in purchasing shares of AAL, that could represent an attractive alternative to paying $14.92/share today.
Because the $9.00 strike represents an approximate 40% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 97%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 2.22% return on the cash commitment, or 16.22% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for American Airlines Group Inc, and highlighting in green where the $9.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $16.00 strike price has a current bid of 70 cents. If an investor was to purchase shares of AAL stock at the current price level of $14.92/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $16.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 11.93% if the stock gets called away at the July 24th expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if AAL shares really soar, which is why looking at the trailing twelve month trading history for American Airlines Group Inc, as well as studying the business fundamentals becomes important. Below is a chart showing AAL's trailing twelve month trading history, with the $16.00 strike highlighted in red:
Considering the fact that the $16.00 strike represents an approximate 7% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 54%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 4.69% boost of extra return to the investor, or 34.25% annualized, which we refer to as the YieldBoost.
The implied volatility in the put contract example is 472%, while the implied volatility in the call contract example is 241%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 252 trading day closing values as well as today's price of $14.92) to be 84%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Of course, a lot of upside could potentially be left on the table if AAL shares really soar, which is why looking at the trailing twelve month trading history for American Airlines Group Inc, as well as studying the business fundamentals becomes important. Below is a chart showing AAL's trailing twelve month trading history, with the $16.00 strike highlighted in red: Considering the fact that the $16.00 strike represents an approximate 7% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading today, for the July 24th expiration.
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Below is a chart showing AAL's trailing twelve month trading history, with the $16.00 strike highlighted in red: Considering the fact that the $16.00 strike represents an approximate 7% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading today, for the July 24th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new July 24th contracts and identified one put and one call contract of particular interest.
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Below is a chart showing AAL's trailing twelve month trading history, with the $16.00 strike highlighted in red: Considering the fact that the $16.00 strike represents an approximate 7% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading today, for the July 24th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new July 24th contracts and identified one put and one call contract of particular interest.
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At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new July 24th contracts and identified one put and one call contract of particular interest. Below is a chart showing AAL's trailing twelve month trading history, with the $16.00 strike highlighted in red: Considering the fact that the $16.00 strike represents an approximate 7% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading today, for the July 24th expiration.
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83fc780f-ca59-4faa-b0c7-cf35dee42451
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5796.0
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2020-06-03 00:00:00 UTC
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Anglo American Platinum shuts unit at processing plant
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AAL
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https://www.nasdaq.com/articles/anglo-american-platinum-shuts-unit-at-processing-plant-2020-06-03-0
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nan
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nan
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Adds detail, background
JOHANNESBURG, June 3 (Reuters) - Anglo American Platinum (Amplats) AMSJ.J said on Wednesday that it had closed the Phase B unit of its Anglo Converter Plant (ACP) after detecting a water leak in the high-pressure cooling section.
The Johannesburg-listed miner last month completed repairs to the unit in Rustenburg, North West Province, and lifted the force majeure to suppliers of concentrate after a blast shut processing facilities.
The damage to the processing facilities forced Amplats, one of the world's largest platinum producers, to declare force majeure and cut its production outlook in March.
"This latest action is separate from the repair work that was recently completed at the ACP Phase B unit and there is no damage to the prior repairs or to the furnace," Amplats said.
Amplats said it temporarily closed the unit to protect employees and the integrity of the plant.
The company said there was no damage to the prior repairs or to the furnace and the repair of Phase A unit was unaffected by the current work at the Phase B unit.
Further updates would be given as soon as more information was available, which it expects would be early next week, Amplats said.
(Reporting by Tanisha Heiberg; Editing by Elaine Hardcastle and Nick Macfie)
((Tanisha.Heiberg@thomsonreuters.com; +27117753034; Reuters Messaging: tanisha.heiberg.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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Adds detail, background JOHANNESBURG, June 3 (Reuters) - Anglo American Platinum (Amplats) AMSJ.J said on Wednesday that it had closed the Phase B unit of its Anglo Converter Plant (ACP) after detecting a water leak in the high-pressure cooling section. The Johannesburg-listed miner last month completed repairs to the unit in Rustenburg, North West Province, and lifted the force majeure to suppliers of concentrate after a blast shut processing facilities. Amplats said it temporarily closed the unit to protect employees and the integrity of the plant.
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Adds detail, background JOHANNESBURG, June 3 (Reuters) - Anglo American Platinum (Amplats) AMSJ.J said on Wednesday that it had closed the Phase B unit of its Anglo Converter Plant (ACP) after detecting a water leak in the high-pressure cooling section. The damage to the processing facilities forced Amplats, one of the world's largest platinum producers, to declare force majeure and cut its production outlook in March. The company said there was no damage to the prior repairs or to the furnace and the repair of Phase A unit was unaffected by the current work at the Phase B unit.
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Adds detail, background JOHANNESBURG, June 3 (Reuters) - Anglo American Platinum (Amplats) AMSJ.J said on Wednesday that it had closed the Phase B unit of its Anglo Converter Plant (ACP) after detecting a water leak in the high-pressure cooling section. "This latest action is separate from the repair work that was recently completed at the ACP Phase B unit and there is no damage to the prior repairs or to the furnace," Amplats said. The company said there was no damage to the prior repairs or to the furnace and the repair of Phase A unit was unaffected by the current work at the Phase B unit.
|
Adds detail, background JOHANNESBURG, June 3 (Reuters) - Anglo American Platinum (Amplats) AMSJ.J said on Wednesday that it had closed the Phase B unit of its Anglo Converter Plant (ACP) after detecting a water leak in the high-pressure cooling section. The Johannesburg-listed miner last month completed repairs to the unit in Rustenburg, North West Province, and lifted the force majeure to suppliers of concentrate after a blast shut processing facilities. The damage to the processing facilities forced Amplats, one of the world's largest platinum producers, to declare force majeure and cut its production outlook in March.
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a8dce781-7fb3-46b2-83ab-402b6ed3fe80
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5797.0
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2020-06-03 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Warner Music, Boeing, Pliant Therapeutics
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AAL
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-warner-music-boeing-pliant-therapeutics-2020-06-03
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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. stocks rise, led by a jump in Boeing shares, on Wednesday, with investors hopeful of a rebound from a coronavirus-led economic slump amid continuing social unrest in the country. .N
At 13:00 ET, the Dow Jones Industrial Average .DJI was up 1.57% at 26,146.23. The S&P 500 .SPX was up 1.06% at 3,113.59 and the Nasdaq Composite .IXIC was up 0.53% at 9,658.833. The top three S&P 500 .PG.INX percentage gainers: ** Simon Property Group , up 13.9% ** Microchip Technology , up 11.9% ** Kimco Realty Corp , up 10.9% The top three S&P 500 .PL.INX percentage losers: ** Campbell Soup Co , down 6.3% ** Tyson Foods , down 5.1% ** Newmont Corp , down 4.4% The top three NYSE .PG.N percentage gainers: ** Ashford Inc , up 46% ** Medley Llc , up 38.3% ** Rayonier Inc , up 25.9% The top three NYSE .PL.N percentage losers: ** Laredo Petroleum , down 15.7% ** Direxion Daily S&P500 Beta Bear , down 14.7% ** China Online Education Group , down 12.2% The top three Nasdaq .PG.O percentage gainers: ** Fsd Pharma , up 164.7% ** Genius Brnds International , up 76.6% ** Cassav Sciences Inc , up 69.1% The top three Nasdaq .PL.O percentage losers: ** Hebron Technology Co , down 27.7% ** Evofem Biosciences , down 25.1% ** Ameri Holdings , down 21.8% ** Pliant Therapeutics Inc PLRX.O: up 50.6%
BUZZ- Novartis NASH drug partner Pliant Therapeutics surges in debut ** GSX Techedu Inc GSX.N: up 5.2%
BUZZ- Shares pop as co rebuts fraud allegations ** Warner Music Group Inc WMG.O: up 16.8%
BUZZ- IPO a hit with investors ** Boeing Co BA.N: up 9.6%
BUZZ- Rises after Daniel Loeb's Third point discloses stake
** Coty Inc COTY.N: up 7.9%
BUZZ- In talks with Kim Kardashian for cosmetics line, shares jump ** Zoom Video Communications Inc ZM.O: up 5.2%
BUZZ-Street View: Zoom's growth trajectory was impressive, but 'what's next? ** OpGen Inc OPGN.O: up 1.5%
BUZZ- Jumps after extending partnership with NY health department ** Reinsurance Group of America RGA.N: down 8.1%
BUZZ- Falls on $500 mln stock offering ** Crowdstrike Holdings Inc CRWD.O: up 4.7%
BUZZ- Set to open at over 9-month high on surprise profit ** American Airlines Group Inc AAL.O: up 6.8% ** Delta Air Lines Inc DAL.N: up 7.1% ** United Airlines Holdings Inc UAL.O: up 10.5% ** SouthWest Airlines Co LUV.N: up 5.4%
BUZZ- U.S. airlines: Cowen sees 20% drop in fleets, pilot workforce after COVID-19 ** Gilead Sciences Inc GILD.O: up 1.5%
BUZZ- SVB Leerink sees $7 bln sales from COVID-19 drug, upgrades ** Cracker Barrel Old Country Store Inc CBRL.O: up 9.8%
BUZZ- SunTrust raises to "buy" on better margins, lower COVID-19 risk ** Evofem Biosciences Inc EVFM.O: down 25.1%
BUZZ- Slumps on discounted stock offering ** Microchip Technology Inc MCHP.O: up 12.0%
BUZZ- gains as Q1 forecast above Wall Street's ** FSD Pharma Inc HUGE.O: up 164.7%
BUZZ- Surges on FDA nod to design study for potential COVID-19 treatment ** Mattel Inc MAT.O: up 6.2%
BUZZ- Up as Jefferies raises rating to 'buy', citing stable H2 ** RTW Retailwinds Inc RTW.N: down 42.0%
BUZZ- Falls after co warns of bankruptcy filing ** Glu Mobile Inc GLUU.O: down 6.8%
BUZZ- Stay-at-home winner Glu Mobile falls on stock offering plans ** American Eagle Outfitters Inc AEO.N: up 15.8%
BUZZ- Rises on strong online sales, demand recovery ** Syneos Health SYNH.O: up 1.6%
BUZZ- Rises as Q2 forecast above Wall St estimates ** Secoo Holding SECO.O: up 55.0%
BUZZ-: Eyes best day ever on $100 mln investment from Qudian
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 0.06%
Consumer Discretionary
.SPLRCD
up 1.21%
Consumer Staples
.SPLRCS
up 0.22%
Energy
.SPNY
up 2.07%
Financial
.SPSY
up 3.71%
Health
.SPXHC
down 0.48%
Industrial
.SPLRCI
up 3.27%
Information Technology
.SPLRCT
up 0.41%
Materials
.SPLRCM
up 2.18%
Real Estate
.SPLRCR
up 2.38%
Utilities
.SPLRCU
up 1.21%
(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.
|
** OpGen Inc OPGN.O: up 1.5% BUZZ- Jumps after extending partnership with NY health department ** Reinsurance Group of America RGA.N: down 8.1% BUZZ- Falls on $500 mln stock offering ** Crowdstrike Holdings Inc CRWD.O: up 4.7% BUZZ- Set to open at over 9-month high on surprise profit ** American Airlines Group Inc AAL.O: up 6.8% ** Delta Air Lines Inc DAL.N: up 7.1% ** United Airlines Holdings Inc UAL.O: up 10.5% ** SouthWest Airlines Co LUV.N: up 5.4% BUZZ- U.S. airlines: Cowen sees 20% drop in fleets, pilot workforce after COVID-19 ** Gilead Sciences Inc GILD.O: up 1.5% BUZZ- SVB Leerink sees $7 bln sales from COVID-19 drug, upgrades ** Cracker Barrel Old Country Store Inc CBRL.O: up 9.8% BUZZ- SunTrust raises to "buy" on better margins, lower COVID-19 risk ** Evofem Biosciences Inc EVFM.O: down 25.1% BUZZ- Slumps on discounted stock offering ** Microchip Technology Inc MCHP.O: up 12.0% BUZZ- gains as Q1 forecast above Wall Street's ** FSD Pharma Inc HUGE.O: up 164.7% BUZZ- Surges on FDA nod to design study for potential COVID-19 treatment ** Mattel Inc MAT.O: up 6.2% BUZZ- Up as Jefferies raises rating to 'buy', citing stable H2 ** RTW Retailwinds Inc RTW.N: down 42.0% BUZZ- Falls after co warns of bankruptcy filing ** Glu Mobile Inc GLUU.O: down 6.8% BUZZ- Stay-at-home winner Glu Mobile falls on stock offering plans ** American Eagle Outfitters Inc AEO.N: up 15.8% BUZZ- Rises on strong online sales, demand recovery ** Syneos Health SYNH.O: up 1.6% BUZZ- Rises as Q2 forecast above Wall St estimates ** Secoo Holding SECO.O: up 55.0% BUZZ-: Eyes best day ever on $100 mln investment from Qudian 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 rise, led by a jump in Boeing shares, on Wednesday, with investors hopeful of a rebound from a coronavirus-led economic slump amid continuing social unrest in the country. The top three S&P 500 .PG.INX percentage gainers: ** Simon Property Group , up 13.9% ** Microchip Technology , up 11.9% ** Kimco Realty Corp , up 10.9% The top three S&P 500 .PL.INX percentage losers: ** Campbell Soup Co , down 6.3% ** Tyson Foods , down 5.1% ** Newmont Corp , down 4.4% The top three NYSE .PG.N percentage gainers: ** Ashford Inc , up 46% ** Medley Llc , up 38.3% ** Rayonier Inc , up 25.9% The top three NYSE .PL.N percentage losers: ** Laredo Petroleum , down 15.7% ** Direxion Daily S&P500 Beta Bear , down 14.7% ** China Online Education Group , down 12.2% The top three Nasdaq .PG.O percentage gainers: ** Fsd Pharma , up 164.7% ** Genius Brnds International , up 76.6% ** Cassav Sciences Inc , up 69.1% The top three Nasdaq .PL.O percentage losers: ** Hebron Technology Co , down 27.7% ** Evofem Biosciences , down 25.1% ** Ameri Holdings , down 21.8% ** Pliant Therapeutics Inc PLRX.O: up 50.6% BUZZ- Novartis NASH drug partner Pliant Therapeutics surges in debut ** GSX Techedu Inc GSX.N: up 5.2% BUZZ- Shares pop as co rebuts fraud allegations ** Warner Music Group Inc WMG.O: up 16.8% BUZZ- IPO a hit with investors ** Boeing Co BA.N: up 9.6% BUZZ- Rises after Daniel Loeb's Third point discloses stake ** Coty Inc COTY.N: up 7.9% BUZZ- In talks with Kim Kardashian for cosmetics line, shares jump ** Zoom Video Communications Inc ZM.O: up 5.2% BUZZ-Street View: Zoom's growth trajectory was impressive, but 'what's next?
|
** OpGen Inc OPGN.O: up 1.5% BUZZ- Jumps after extending partnership with NY health department ** Reinsurance Group of America RGA.N: down 8.1% BUZZ- Falls on $500 mln stock offering ** Crowdstrike Holdings Inc CRWD.O: up 4.7% BUZZ- Set to open at over 9-month high on surprise profit ** American Airlines Group Inc AAL.O: up 6.8% ** Delta Air Lines Inc DAL.N: up 7.1% ** United Airlines Holdings Inc UAL.O: up 10.5% ** SouthWest Airlines Co LUV.N: up 5.4% BUZZ- U.S. airlines: Cowen sees 20% drop in fleets, pilot workforce after COVID-19 ** Gilead Sciences Inc GILD.O: up 1.5% BUZZ- SVB Leerink sees $7 bln sales from COVID-19 drug, upgrades ** Cracker Barrel Old Country Store Inc CBRL.O: up 9.8% BUZZ- SunTrust raises to "buy" on better margins, lower COVID-19 risk ** Evofem Biosciences Inc EVFM.O: down 25.1% BUZZ- Slumps on discounted stock offering ** Microchip Technology Inc MCHP.O: up 12.0% BUZZ- gains as Q1 forecast above Wall Street's ** FSD Pharma Inc HUGE.O: up 164.7% BUZZ- Surges on FDA nod to design study for potential COVID-19 treatment ** Mattel Inc MAT.O: up 6.2% BUZZ- Up as Jefferies raises rating to 'buy', citing stable H2 ** RTW Retailwinds Inc RTW.N: down 42.0% BUZZ- Falls after co warns of bankruptcy filing ** Glu Mobile Inc GLUU.O: down 6.8% BUZZ- Stay-at-home winner Glu Mobile falls on stock offering plans ** American Eagle Outfitters Inc AEO.N: up 15.8% BUZZ- Rises on strong online sales, demand recovery ** Syneos Health SYNH.O: up 1.6% BUZZ- Rises as Q2 forecast above Wall St estimates ** Secoo Holding SECO.O: up 55.0% BUZZ-: Eyes best day ever on $100 mln investment from Qudian 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 rise, led by a jump in Boeing shares, on Wednesday, with investors hopeful of a rebound from a coronavirus-led economic slump amid continuing social unrest in the country. The top three S&P 500 .PG.INX percentage gainers: ** Simon Property Group , up 13.9% ** Microchip Technology , up 11.9% ** Kimco Realty Corp , up 10.9% The top three S&P 500 .PL.INX percentage losers: ** Campbell Soup Co , down 6.3% ** Tyson Foods , down 5.1% ** Newmont Corp , down 4.4% The top three NYSE .PG.N percentage gainers: ** Ashford Inc , up 46% ** Medley Llc , up 38.3% ** Rayonier Inc , up 25.9% The top three NYSE .PL.N percentage losers: ** Laredo Petroleum , down 15.7% ** Direxion Daily S&P500 Beta Bear , down 14.7% ** China Online Education Group , down 12.2% The top three Nasdaq .PG.O percentage gainers: ** Fsd Pharma , up 164.7% ** Genius Brnds International , up 76.6% ** Cassav Sciences Inc , up 69.1% The top three Nasdaq .PL.O percentage losers: ** Hebron Technology Co , down 27.7% ** Evofem Biosciences , down 25.1% ** Ameri Holdings , down 21.8% ** Pliant Therapeutics Inc PLRX.O: up 50.6% BUZZ- Novartis NASH drug partner Pliant Therapeutics surges in debut ** GSX Techedu Inc GSX.N: up 5.2% BUZZ- Shares pop as co rebuts fraud allegations ** Warner Music Group Inc WMG.O: up 16.8% BUZZ- IPO a hit with investors ** Boeing Co BA.N: up 9.6% BUZZ- Rises after Daniel Loeb's Third point discloses stake ** Coty Inc COTY.N: up 7.9% BUZZ- In talks with Kim Kardashian for cosmetics line, shares jump ** Zoom Video Communications Inc ZM.O: up 5.2% BUZZ-Street View: Zoom's growth trajectory was impressive, but 'what's next?
|
** OpGen Inc OPGN.O: up 1.5% BUZZ- Jumps after extending partnership with NY health department ** Reinsurance Group of America RGA.N: down 8.1% BUZZ- Falls on $500 mln stock offering ** Crowdstrike Holdings Inc CRWD.O: up 4.7% BUZZ- Set to open at over 9-month high on surprise profit ** American Airlines Group Inc AAL.O: up 6.8% ** Delta Air Lines Inc DAL.N: up 7.1% ** United Airlines Holdings Inc UAL.O: up 10.5% ** SouthWest Airlines Co LUV.N: up 5.4% BUZZ- U.S. airlines: Cowen sees 20% drop in fleets, pilot workforce after COVID-19 ** Gilead Sciences Inc GILD.O: up 1.5% BUZZ- SVB Leerink sees $7 bln sales from COVID-19 drug, upgrades ** Cracker Barrel Old Country Store Inc CBRL.O: up 9.8% BUZZ- SunTrust raises to "buy" on better margins, lower COVID-19 risk ** Evofem Biosciences Inc EVFM.O: down 25.1% BUZZ- Slumps on discounted stock offering ** Microchip Technology Inc MCHP.O: up 12.0% BUZZ- gains as Q1 forecast above Wall Street's ** FSD Pharma Inc HUGE.O: up 164.7% BUZZ- Surges on FDA nod to design study for potential COVID-19 treatment ** Mattel Inc MAT.O: up 6.2% BUZZ- Up as Jefferies raises rating to 'buy', citing stable H2 ** RTW Retailwinds Inc RTW.N: down 42.0% BUZZ- Falls after co warns of bankruptcy filing ** Glu Mobile Inc GLUU.O: down 6.8% BUZZ- Stay-at-home winner Glu Mobile falls on stock offering plans ** American Eagle Outfitters Inc AEO.N: up 15.8% BUZZ- Rises on strong online sales, demand recovery ** Syneos Health SYNH.O: up 1.6% BUZZ- Rises as Q2 forecast above Wall St estimates ** Secoo Holding SECO.O: up 55.0% BUZZ-: Eyes best day ever on $100 mln investment from Qudian The 11 major S&P 500 sectors: Communication Services .N At 13:00 ET, the Dow Jones Industrial Average .DJI was up 1.57% at 26,146.23. The top three S&P 500 .PG.INX percentage gainers: ** Simon Property Group , up 13.9% ** Microchip Technology , up 11.9% ** Kimco Realty Corp , up 10.9% The top three S&P 500 .PL.INX percentage losers: ** Campbell Soup Co , down 6.3% ** Tyson Foods , down 5.1% ** Newmont Corp , down 4.4% The top three NYSE .PG.N percentage gainers: ** Ashford Inc , up 46% ** Medley Llc , up 38.3% ** Rayonier Inc , up 25.9% The top three NYSE .PL.N percentage losers: ** Laredo Petroleum , down 15.7% ** Direxion Daily S&P500 Beta Bear , down 14.7% ** China Online Education Group , down 12.2% The top three Nasdaq .PG.O percentage gainers: ** Fsd Pharma , up 164.7% ** Genius Brnds International , up 76.6% ** Cassav Sciences Inc , up 69.1% The top three Nasdaq .PL.O percentage losers: ** Hebron Technology Co , down 27.7% ** Evofem Biosciences , down 25.1% ** Ameri Holdings , down 21.8% ** Pliant Therapeutics Inc PLRX.O: up 50.6% BUZZ- Novartis NASH drug partner Pliant Therapeutics surges in debut ** GSX Techedu Inc GSX.N: up 5.2% BUZZ- Shares pop as co rebuts fraud allegations ** Warner Music Group Inc WMG.O: up 16.8% BUZZ- IPO a hit with investors ** Boeing Co BA.N: up 9.6% BUZZ- Rises after Daniel Loeb's Third point discloses stake ** Coty Inc COTY.N: up 7.9% BUZZ- In talks with Kim Kardashian for cosmetics line, shares jump ** Zoom Video Communications Inc ZM.O: up 5.2% BUZZ-Street View: Zoom's growth trajectory was impressive, but 'what's next?
|
** OpGen Inc OPGN.O: up 1.5% BUZZ- Jumps after extending partnership with NY health department ** Reinsurance Group of America RGA.N: down 8.1% BUZZ- Falls on $500 mln stock offering ** Crowdstrike Holdings Inc CRWD.O: up 4.7% BUZZ- Set to open at over 9-month high on surprise profit ** American Airlines Group Inc AAL.O: up 6.8% ** Delta Air Lines Inc DAL.N: up 7.1% ** United Airlines Holdings Inc UAL.O: up 10.5% ** SouthWest Airlines Co LUV.N: up 5.4% BUZZ- U.S. airlines: Cowen sees 20% drop in fleets, pilot workforce after COVID-19 ** Gilead Sciences Inc GILD.O: up 1.5% BUZZ- SVB Leerink sees $7 bln sales from COVID-19 drug, upgrades ** Cracker Barrel Old Country Store Inc CBRL.O: up 9.8% BUZZ- SunTrust raises to "buy" on better margins, lower COVID-19 risk ** Evofem Biosciences Inc EVFM.O: down 25.1% BUZZ- Slumps on discounted stock offering ** Microchip Technology Inc MCHP.O: up 12.0% BUZZ- gains as Q1 forecast above Wall Street's ** FSD Pharma Inc HUGE.O: up 164.7% BUZZ- Surges on FDA nod to design study for potential COVID-19 treatment ** Mattel Inc MAT.O: up 6.2% BUZZ- Up as Jefferies raises rating to 'buy', citing stable H2 ** RTW Retailwinds Inc RTW.N: down 42.0% BUZZ- Falls after co warns of bankruptcy filing ** Glu Mobile Inc GLUU.O: down 6.8% BUZZ- Stay-at-home winner Glu Mobile falls on stock offering plans ** American Eagle Outfitters Inc AEO.N: up 15.8% BUZZ- Rises on strong online sales, demand recovery ** Syneos Health SYNH.O: up 1.6% BUZZ- Rises as Q2 forecast above Wall St estimates ** Secoo Holding SECO.O: up 55.0% BUZZ-: Eyes best day ever on $100 mln investment from Qudian 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 rise, led by a jump in Boeing shares, on Wednesday, with investors hopeful of a rebound from a coronavirus-led economic slump amid continuing social unrest in the country. .N At 13:00 ET, the Dow Jones Industrial Average .DJI was up 1.57% at 26,146.23.
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fd1fbd57-778b-469f-a259-73ed15f917c5
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5798.0
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2020-06-03 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Coty, Zoom Video, OpGen, Campbell Soup
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AAL
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-coty-zoom-video-opgen-campbell-soup-2020-06-03
|
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 were set to open higher on Wednesday, with Nasdaq inching closer to a record high, as investors remained optimistic about an economic rebound from a coronavirus-led slump amid continuing social unrest. .N
At 08:30 ET, Dow e-minis 1YMc1 were up 0.87% at 25,925. S&P 500 e-minis ESc1 were up 0.56% at 3,094.25, while Nasdaq 100 e-minis NQc1 were up 0.06% at 9,654. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Knowles Corp , up 17.3% ** Qudian Inc Adr , up 17.0% ** Permianville Royalty Trust , up 14.7% The top three NYSE percentage losers premarket .PRPL.NQ: ** Southern Copper corp , down 11.5% ** Reinsurance Group of America , down 10.4% ** Express Inc , down 8.9% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Air T Funding Warrants Equity , up 508.7% ** FSD Pharma Inc , up 235.2% ** Secoo Holding Ltd , up 88.4% The top three Nasdaq percentage losers premarket .PRPL.O: ** Evofem Biosciences Inc , down 25.1% ** Cemtrex Equity Warrants Series , down 19.6% ** Cellectar Biosciences Inc , down 15.9% ** Coty Inc COTY.N: up 6.4% premarket BUZZ- In talks with Kim Kardashian for cosmetics line, shares jump ** Zoom Video Communications Inc ZM.O: up 0.6% premarket BUZZ-Street View: Zoom's growth trajectory was impressive, but 'what's next?' ** OpGen Inc OPGN.O: up 4.1% premarket BUZZ- Jumps after extending partnership with NY health department ** Reinsurance Group of America RGA.N: down 10.4% premarket BUZZ- Falls on $500 mln stock offering ** Crowdstrike Holdings Inc CRWD.O: up 8.6% premarket BUZZ-Crowdstrike: Set to open at over 9-month high on surprise profit ** American Airlines Group Inc AAL.O: up 3.1% premarket ** Delta Air Lines Inc DAL.N: up 2.1% premarket ** United Airlines Holdings Inc UAL.O: up 2.4% premarket ** SouthWest Airlines Co LUV.N: up 2.3% premarket BUZZ- U.S. airlines: Cowen sees 20% drop in fleets, pilot workforce after COVID-19 ** Campbell Soup Co CPB.N: up 1.2% premarket BUZZ- Gains on raised 2020 outlook, upbeat Q3 ** Royal Caribbean Cruises Ltd RCL.N: down 3.9% premarket ** Carnival corp CCL.N: down 2.3% premarket ** Norwegian Cruise Line Holdings Ltd NCLH.N: down 3.9% premarket BUZZ-U.S. cruise lines fall; Morgan Stanley sees sailing to resume in 2021 ** Gilead Sciences Inc GILD.O: up 1.3% premarket BUZZ- SVB Leerink sees $7 bln sales from COVID-19 drug, upgrades ** Cracker Barrel Old Country Store Inc CBRL.O: up 2.8% premarket BUZZ- SunTrust raises to "buy" on better margins, lower COVID-19 risk ** Evofem Biosciences Inc EVFM.O: down 25.1% premarket BUZZ- Slumps on discounted stock offering ** Microchip Technology Inc MCHP.O: up 7.8% premarket BUZZ- gains as Q1 forecast above Wall Street's ** FSD Pharma Inc HUGE.O: up 235.2% premarket BUZZ- Surges on FDA nod to design study for potential COVID-19 treatment
(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.
|
** OpGen Inc OPGN.O: up 4.1% premarket BUZZ- Jumps after extending partnership with NY health department ** Reinsurance Group of America RGA.N: down 10.4% premarket BUZZ- Falls on $500 mln stock offering ** Crowdstrike Holdings Inc CRWD.O: up 8.6% premarket BUZZ-Crowdstrike: Set to open at over 9-month high on surprise profit ** American Airlines Group Inc AAL.O: up 3.1% premarket ** Delta Air Lines Inc DAL.N: up 2.1% premarket ** United Airlines Holdings Inc UAL.O: up 2.4% premarket ** SouthWest Airlines Co LUV.N: up 2.3% premarket BUZZ- U.S. airlines: Cowen sees 20% drop in fleets, pilot workforce after COVID-19 ** Campbell Soup Co CPB.N: up 1.2% premarket BUZZ- Gains on raised 2020 outlook, upbeat Q3 ** Royal Caribbean Cruises Ltd RCL.N: down 3.9% premarket ** Carnival corp CCL.N: down 2.3% premarket ** Norwegian Cruise Line Holdings Ltd NCLH.N: down 3.9% premarket BUZZ-U.S. cruise lines fall; Morgan Stanley sees sailing to resume in 2021 ** Gilead Sciences Inc GILD.O: up 1.3% premarket BUZZ- SVB Leerink sees $7 bln sales from COVID-19 drug, upgrades ** Cracker Barrel Old Country Store Inc CBRL.O: up 2.8% premarket BUZZ- SunTrust raises to "buy" on better margins, lower COVID-19 risk ** Evofem Biosciences Inc EVFM.O: down 25.1% premarket BUZZ- Slumps on discounted stock offering ** Microchip Technology Inc MCHP.O: up 7.8% premarket BUZZ- gains as Q1 forecast above Wall Street's ** FSD Pharma Inc HUGE.O: up 235.2% premarket BUZZ- Surges on FDA nod to design study for potential COVID-19 treatment (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 indexes were set to open higher on Wednesday, with Nasdaq inching closer to a record high, as investors remained optimistic about an economic rebound from a coronavirus-led slump amid continuing social unrest. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Knowles Corp , up 17.3% ** Qudian Inc Adr , up 17.0% ** Permianville Royalty Trust , up 14.7% The top three NYSE percentage losers premarket .PRPL.NQ: ** Southern Copper corp , down 11.5% ** Reinsurance Group of America , down 10.4% ** Express Inc , down 8.9% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Air T Funding Warrants Equity , up 508.7% ** FSD Pharma Inc , up 235.2% ** Secoo Holding Ltd , up 88.4% The top three Nasdaq percentage losers premarket .PRPL.O: ** Evofem Biosciences Inc , down 25.1% ** Cemtrex Equity Warrants Series , down 19.6% ** Cellectar Biosciences Inc , down 15.9% ** Coty Inc COTY.N: up 6.4% premarket BUZZ- In talks with Kim Kardashian for cosmetics line, shares jump ** Zoom Video Communications Inc ZM.O: up 0.6% premarket BUZZ-Street View: Zoom's growth trajectory was impressive, but 'what's next?'
|
** OpGen Inc OPGN.O: up 4.1% premarket BUZZ- Jumps after extending partnership with NY health department ** Reinsurance Group of America RGA.N: down 10.4% premarket BUZZ- Falls on $500 mln stock offering ** Crowdstrike Holdings Inc CRWD.O: up 8.6% premarket BUZZ-Crowdstrike: Set to open at over 9-month high on surprise profit ** American Airlines Group Inc AAL.O: up 3.1% premarket ** Delta Air Lines Inc DAL.N: up 2.1% premarket ** United Airlines Holdings Inc UAL.O: up 2.4% premarket ** SouthWest Airlines Co LUV.N: up 2.3% premarket BUZZ- U.S. airlines: Cowen sees 20% drop in fleets, pilot workforce after COVID-19 ** Campbell Soup Co CPB.N: up 1.2% premarket BUZZ- Gains on raised 2020 outlook, upbeat Q3 ** Royal Caribbean Cruises Ltd RCL.N: down 3.9% premarket ** Carnival corp CCL.N: down 2.3% premarket ** Norwegian Cruise Line Holdings Ltd NCLH.N: down 3.9% premarket BUZZ-U.S. cruise lines fall; Morgan Stanley sees sailing to resume in 2021 ** Gilead Sciences Inc GILD.O: up 1.3% premarket BUZZ- SVB Leerink sees $7 bln sales from COVID-19 drug, upgrades ** Cracker Barrel Old Country Store Inc CBRL.O: up 2.8% premarket BUZZ- SunTrust raises to "buy" on better margins, lower COVID-19 risk ** Evofem Biosciences Inc EVFM.O: down 25.1% premarket BUZZ- Slumps on discounted stock offering ** Microchip Technology Inc MCHP.O: up 7.8% premarket BUZZ- gains as Q1 forecast above Wall Street's ** FSD Pharma Inc HUGE.O: up 235.2% premarket BUZZ- Surges on FDA nod to design study for potential COVID-19 treatment (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 indexes were set to open higher on Wednesday, with Nasdaq inching closer to a record high, as investors remained optimistic about an economic rebound from a coronavirus-led slump amid continuing social unrest. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Knowles Corp , up 17.3% ** Qudian Inc Adr , up 17.0% ** Permianville Royalty Trust , up 14.7% The top three NYSE percentage losers premarket .PRPL.NQ: ** Southern Copper corp , down 11.5% ** Reinsurance Group of America , down 10.4% ** Express Inc , down 8.9% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Air T Funding Warrants Equity , up 508.7% ** FSD Pharma Inc , up 235.2% ** Secoo Holding Ltd , up 88.4% The top three Nasdaq percentage losers premarket .PRPL.O: ** Evofem Biosciences Inc , down 25.1% ** Cemtrex Equity Warrants Series , down 19.6% ** Cellectar Biosciences Inc , down 15.9% ** Coty Inc COTY.N: up 6.4% premarket BUZZ- In talks with Kim Kardashian for cosmetics line, shares jump ** Zoom Video Communications Inc ZM.O: up 0.6% premarket BUZZ-Street View: Zoom's growth trajectory was impressive, but 'what's next?'
|
** OpGen Inc OPGN.O: up 4.1% premarket BUZZ- Jumps after extending partnership with NY health department ** Reinsurance Group of America RGA.N: down 10.4% premarket BUZZ- Falls on $500 mln stock offering ** Crowdstrike Holdings Inc CRWD.O: up 8.6% premarket BUZZ-Crowdstrike: Set to open at over 9-month high on surprise profit ** American Airlines Group Inc AAL.O: up 3.1% premarket ** Delta Air Lines Inc DAL.N: up 2.1% premarket ** United Airlines Holdings Inc UAL.O: up 2.4% premarket ** SouthWest Airlines Co LUV.N: up 2.3% premarket BUZZ- U.S. airlines: Cowen sees 20% drop in fleets, pilot workforce after COVID-19 ** Campbell Soup Co CPB.N: up 1.2% premarket BUZZ- Gains on raised 2020 outlook, upbeat Q3 ** Royal Caribbean Cruises Ltd RCL.N: down 3.9% premarket ** Carnival corp CCL.N: down 2.3% premarket ** Norwegian Cruise Line Holdings Ltd NCLH.N: down 3.9% premarket BUZZ-U.S. cruise lines fall; Morgan Stanley sees sailing to resume in 2021 ** Gilead Sciences Inc GILD.O: up 1.3% premarket BUZZ- SVB Leerink sees $7 bln sales from COVID-19 drug, upgrades ** Cracker Barrel Old Country Store Inc CBRL.O: up 2.8% premarket BUZZ- SunTrust raises to "buy" on better margins, lower COVID-19 risk ** Evofem Biosciences Inc EVFM.O: down 25.1% premarket BUZZ- Slumps on discounted stock offering ** Microchip Technology Inc MCHP.O: up 7.8% premarket BUZZ- gains as Q1 forecast above Wall Street's ** FSD Pharma Inc HUGE.O: up 235.2% premarket BUZZ- Surges on FDA nod to design study for potential COVID-19 treatment (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. S&P 500 e-minis ESc1 were up 0.56% at 3,094.25, while Nasdaq 100 e-minis NQc1 were up 0.06% at 9,654. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Knowles Corp , up 17.3% ** Qudian Inc Adr , up 17.0% ** Permianville Royalty Trust , up 14.7% The top three NYSE percentage losers premarket .PRPL.NQ: ** Southern Copper corp , down 11.5% ** Reinsurance Group of America , down 10.4% ** Express Inc , down 8.9% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Air T Funding Warrants Equity , up 508.7% ** FSD Pharma Inc , up 235.2% ** Secoo Holding Ltd , up 88.4% The top three Nasdaq percentage losers premarket .PRPL.O: ** Evofem Biosciences Inc , down 25.1% ** Cemtrex Equity Warrants Series , down 19.6% ** Cellectar Biosciences Inc , down 15.9% ** Coty Inc COTY.N: up 6.4% premarket BUZZ- In talks with Kim Kardashian for cosmetics line, shares jump ** Zoom Video Communications Inc ZM.O: up 0.6% premarket BUZZ-Street View: Zoom's growth trajectory was impressive, but 'what's next?'
|
** OpGen Inc OPGN.O: up 4.1% premarket BUZZ- Jumps after extending partnership with NY health department ** Reinsurance Group of America RGA.N: down 10.4% premarket BUZZ- Falls on $500 mln stock offering ** Crowdstrike Holdings Inc CRWD.O: up 8.6% premarket BUZZ-Crowdstrike: Set to open at over 9-month high on surprise profit ** American Airlines Group Inc AAL.O: up 3.1% premarket ** Delta Air Lines Inc DAL.N: up 2.1% premarket ** United Airlines Holdings Inc UAL.O: up 2.4% premarket ** SouthWest Airlines Co LUV.N: up 2.3% premarket BUZZ- U.S. airlines: Cowen sees 20% drop in fleets, pilot workforce after COVID-19 ** Campbell Soup Co CPB.N: up 1.2% premarket BUZZ- Gains on raised 2020 outlook, upbeat Q3 ** Royal Caribbean Cruises Ltd RCL.N: down 3.9% premarket ** Carnival corp CCL.N: down 2.3% premarket ** Norwegian Cruise Line Holdings Ltd NCLH.N: down 3.9% premarket BUZZ-U.S. cruise lines fall; Morgan Stanley sees sailing to resume in 2021 ** Gilead Sciences Inc GILD.O: up 1.3% premarket BUZZ- SVB Leerink sees $7 bln sales from COVID-19 drug, upgrades ** Cracker Barrel Old Country Store Inc CBRL.O: up 2.8% premarket BUZZ- SunTrust raises to "buy" on better margins, lower COVID-19 risk ** Evofem Biosciences Inc EVFM.O: down 25.1% premarket BUZZ- Slumps on discounted stock offering ** Microchip Technology Inc MCHP.O: up 7.8% premarket BUZZ- gains as Q1 forecast above Wall Street's ** FSD Pharma Inc HUGE.O: up 235.2% premarket BUZZ- Surges on FDA nod to design study for potential COVID-19 treatment (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 indexes were set to open higher on Wednesday, with Nasdaq inching closer to a record high, as investors remained optimistic about an economic rebound from a coronavirus-led slump amid continuing social unrest. .N At 08:30 ET, Dow e-minis 1YMc1 were up 0.87% at 25,925.
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dc31d7f6-160e-4e21-b9f2-2f64d9705305
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5799.0
|
2020-06-03 00:00:00 UTC
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United States to Bar Chinese Airlines
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AAL
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https://www.nasdaq.com/articles/united-states-to-bar-chinese-airlines-2020-06-03
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nan
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nan
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The Department of Transportation on Wednesday moved to block Chinese airlines from flying into the United States, responding to China's silence on requests by Delta Air Lines (NYSE: DAL) and United Airlines Holdings (NASDAQ: UAL) to resume flights to China later this month.
Delta, United, and American Airlines Group (NASDAQ: AAL) all suspended service to China in the early days of the COVID-19 pandemic, but as the worst of the pandemic begins to fade the airlines are taking tentative steps to rebuild their international networks.
Image source: United Airlines.
International flights are governed by treaties between the countries involved, and the U.S. and China do not have a so-called "open skies" agreement that allows for unlimited flights into the two countries. Four Chinese airlines, Air China, China Eastern Airlines, China Southern Airlines and Xiamen Airlines, continued to fly to the U.S. through the pandemic, and are currently flying about 34 flights per week.
"The Department will continue to engage our Chinese counterparts so both U.S. and Chinese carriers can fully exercise their bilateral rights," the DOT said in a statement. "In the meantime, we will allow Chinese carriers to operate the same number of scheduled passenger flights as the Chinese government allows ours."
The suspension would impact Chinese flights arriving and departing on June 16, though reports quoting government officials said that deadline could be moved up.
The dispute is part of broader tensions between the two countries over a number of trade and pandemic-related concerns. The ban for now will have a limited impact on U.S. airline revenues, as international traffic is expected to be weak for the next few quarters at least. But prior to the pandemic Asia was seen as a key region for growth by the airlines, so the dispute is worth monitoring by investors.
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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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Delta, United, and American Airlines Group (NASDAQ: AAL) all suspended service to China in the early days of the COVID-19 pandemic, but as the worst of the pandemic begins to fade the airlines are taking tentative steps to rebuild their international networks. The Department of Transportation on Wednesday moved to block Chinese airlines from flying into the United States, responding to China's silence on requests by Delta Air Lines (NYSE: DAL) and United Airlines Holdings (NASDAQ: UAL) to resume flights to China later this month. The suspension would impact Chinese flights arriving and departing on June 16, though reports quoting government officials said that deadline could be moved up.
|
Delta, United, and American Airlines Group (NASDAQ: AAL) all suspended service to China in the early days of the COVID-19 pandemic, but as the worst of the pandemic begins to fade the airlines are taking tentative steps to rebuild their international networks. The Department of Transportation on Wednesday moved to block Chinese airlines from flying into the United States, responding to China's silence on requests by Delta Air Lines (NYSE: DAL) and United Airlines Holdings (NASDAQ: UAL) to resume flights to China later this month. Four Chinese airlines, Air China, China Eastern Airlines, China Southern Airlines and Xiamen Airlines, continued to fly to the U.S. through the pandemic, and are currently flying about 34 flights per week.
|
Delta, United, and American Airlines Group (NASDAQ: AAL) all suspended service to China in the early days of the COVID-19 pandemic, but as the worst of the pandemic begins to fade the airlines are taking tentative steps to rebuild their international networks. The Department of Transportation on Wednesday moved to block Chinese airlines from flying into the United States, responding to China's silence on requests by Delta Air Lines (NYSE: DAL) and United Airlines Holdings (NASDAQ: UAL) to resume flights to China later this month. Four Chinese airlines, Air China, China Eastern Airlines, China Southern Airlines and Xiamen Airlines, continued to fly to the U.S. through the pandemic, and are currently flying about 34 flights per week.
|
Delta, United, and American Airlines Group (NASDAQ: AAL) all suspended service to China in the early days of the COVID-19 pandemic, but as the worst of the pandemic begins to fade the airlines are taking tentative steps to rebuild their international networks. The Department of Transportation on Wednesday moved to block Chinese airlines from flying into the United States, responding to China's silence on requests by Delta Air Lines (NYSE: DAL) and United Airlines Holdings (NASDAQ: UAL) to resume flights to China later this month. "In the meantime, we will allow Chinese carriers to operate the same number of scheduled passenger flights as the Chinese government allows ours."
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6b1f1f87-068c-44f1-abd3-754e9df56f12
|
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