Airline stocks dropped sharply on Tuesday following news that Trump is ending stimulus talks until after the election. Airlines were expected to be large beneficiaries of the next stimulus package. Speaker Pelosi urged airline executives on Friday to delay firings, saying relief was imminent. American Airlines dropped as much as […]
The Nasdaq 100 index set a new intraday record on Thursday, becoming the first major US stock index to fully erase losses from the coronavirus sell-off. The index peaked at 9,741.97 at 10:32 a.m. ET before sliding alongside peer indexes as the session’s run-up froze. eBay’s 9.8% rally led the […]
Airline stocks outperformed Wednesday’s stock market rally after the White House banned Chinese airlines from operating passenger flights to the US starting mid-June. Alaska Air led the group after leaping as much as 12%, while United Airlines followed close behind with an 11.8% climb. American Airlines and Delta Air Lines […]
Warren Buffett revealed over the weekend that Berkshire Hathaway had liquidated its entire stake in the airline stocks, saying, “Our airlines position was a mistake.” Investors are betting against Warren Buffett, as evidenced by a 1,600% increase in fund flows into the US Global Jets exchange-traded fund. The move comes […]
United Airlines shares tanked 8% in early Monday trading after the company revealed it lost $US2.1 billion in pretax profits over the first quarter. Preliminary revenue dropped 17% to $US8 billion over the period as the coronavirus pandemic halted flights and eliminated airlines’ key revenue streams. United expects to take […]
Several companies have lowered or withdrawn their forward-looking revenue estimates as the coronavirus tears into operations. Microsoft was the most recent to warn investors of the outbreak’s effect on financials, announcing Wednesday its Windows and Surface businesses would see worse-than-expected sales due to supply chain disruption. The announcement drove Microsoft […]
United Airlines shares rose as much as 1% in early Thursday trading after the company announced CEO Oscar Munoz will step down in May and President Scott Kirby will become its new chief executive. Munoz will become the airline’s chairman, and current chair Jane Garvey will retire from United’s board. […]
Ualá, an Argentinian mobile banking startup, has raised $US34 million in a new round of funding led by Goldman Sachs’s venture unit, along with investors including billionaire George Soros’ family office and Point72 Ventures, the early-stage VC firm funded by Steve Cohen. The company – which offers a financial management […]
