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Companies returning cash to shareholders can win the favor of current and potential investors.
Texas Instruments Incorporated
Eaton Corporation plc
General Mills, Inc.
Delta Air Lines, Inc.
The Hartford Financial Services Group, Inc.
Brown & Brown, Inc.
Franklin Resources, Inc.
C.H. Robinson Worldwide, Inc.
Huntington Ingalls Industries, Inc.
The New York Times Company
Reliance Steel & Aluminum Co.
Spirit AeroSystems Holdings, Inc.
ABM Industries Incorporated
Cathay General Bancorp
Barnes Group Inc.
Huntington Ingalls (HII) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
The Australian Dollar may have closed higher, but it posted its high for the session nearly five hours before the U.S. Non-Farm Payrolls report.
It seems like the worst is over for the airlines industry as the U.S. economy has started to reopen.
(Bloomberg) -- The nationwide protests against police brutality and the killing of black people have sent Americans in search of movies, books and podcasts that deal with race.Demand for Netflix Inc.’s series “Dear White People” has surged 329%, research firm Parrot Analytics found. Interest in “When They See Us,” a 2019 series about the Central Park Five, has grown 147%, according to the firm, which gauges the popularity of shows based on social media, fan ratings and other measures.Childish Gambino’s “This Is America,” a 2018 song about race and violence in the U.S., reentered the top 50 on Spotify Technology SA’s service, which has promoted a hub for black history all week.Several books that discuss race relations in the U.S. have sold enough copies this week to be out of stock on Amazon.com Inc.’s site, including “How to Be an Antiracist,” Ralph Ellison’s “Invisible Man” and Isabel Wilkerson’s “The Warmth of Other Suns.” “Invisible Man,” a novel that explores what it meant to be black in the middle of the 20th century, was published in 1952.The killing of George Floyd while in police custody -- and the subsequent protests against racial injustice -- have brought introspection. In between debates about police reform, news outlets, activists and media companies have shared lists of edifying books and movies.The swell of interest has also extended to podcasts. Three series about race -- the New York Times’ “1619,” National Public Radio’s “Code Switch” and Crooked Media’s “Pod Save the People” -- rank among the five most popular shows on Apple Inc.’s podcast app.(A previous version of the story corrected the title in the second deck headline. Updates with more on protest coverage.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Shares of American Airlines Group (NASDAQ: AAL) led the sector higher for the second straight day, up more than 20% at 11 a.m. EDT, but the rally was widespread. Shares of United Airlines Holdings (NASDAQ: UAL), Spirit Airlines (NYSE: SAVE), and JetBlue Airways (NASDAQ: JBLU) were up double-digits, and Delta Air Lines (NYSE: DAL), Southwest Airlines (NYSE: LUV), Hawaiian Holdings (NASDAQ: HA), Alaska Air Group (NYSE: ALK), and Allegiant Travel (NASDAQ: ALGT) gained more than 4% apiece.
In response to the George Floyd tragedy and the resulting protests and civil unrest throughout the United States, U.S. Bank today announced several investments and initiatives to bridge social and economic gaps and enhance opportunity for people of color.
New York Times (NYT) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Spirit Aerosystems (SPR) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
The Australian dollar went parabolic during the week, crashing into resistance at the 0.70 level. This is a market that at the very least needs to digest gains.
Morgan Stanley's (MS) restructuring efforts and strategic buyouts are likely to aid its financials. However, rising operating expenses and near-zero interest rates are headwinds.
After a shock jobs number out of the United States, it looks like perhaps the demise of the United States was prematurely.
American Airlines (AAL) plans to boost flights by 74% in July, indicating that the coronavirus-led standstill in travel is over.
American Airlines' (AAL) projection to boost its July capacity hints at the gradual progress in the air-travel scenario.
The airline has decided to maintain its load factor cap through the end of September to make customers more comfortable about flying.
If the RBNZ does adopt negative rates, New Zealand would join Japan, Sweden, Denmark and other European countries that have done the same.
(Bloomberg) -- Australia’s dollar broke through the key 70 U.S. cents mark on expectations that markets have witnessed the worst of the coronavirus’ carnage on the global economy.The Aussie jumped as much 0.9% on Friday to 70.04 U.S. cents, the highest level since early January when the virus outbreak had yet to explode into a pandemic. It has risen 27% after sliding to a near 18-year low in March, and is seen as a favored asset to buy among investors cheering the re-opening of economies from Singapore to Germany.“The Aussie is on a tear, and with markets undergoing a massive reappraisal of risk, it’s hard to rule out the currency rallying even more,” said Janu Chan, senior economist at St. George Bank Ltd. in Sydney. “The currency is one of the easiest ways for investors to express their risk sentiment, and Australia’s containment of the virus, the RBA’s refraining from going down the path of negative interest rates are certainly helping.”The Aussie could rise to 75 U.S. cents next year as it benefits from a cocktail of supportive monetary and fiscal policies, improving risk sentiment and the nation’s record trade surplus, Thomas Nash, a strategist at HSBC Bank Australia, wrote in a note. “Buying AUD in the depths of recession has been profitable in the past -- this time should be no different.”It was trading back below the key level at 69.92 cents at 5:05 p.m. Sydney time.The rebound in risk sentiment comes as a set of daily gauges from Bloomberg Economics showed almost all of the economies it monitored witnessed a pick-up in activity in the past two months. The Aussie has been particularly sensitive to these changes given the country’s position as a major commodities exporter and the developed economy with the most direct exposure to China.The currency also received an inadvertent boost from Reserve Bank of Australia Governor Philip Lowe, who refrained from talking down the currency’s strength at a recent policy meeting.Risks AboundTo be sure, there are risks to the Aussie’s gains.Rising U.S.-China trade tensions could spur fresh selloffs. Data Wednesday also showed that the Australian economy contracted in the first three months of the year, virtually guaranteeing an end to its nearly 29-year recession-free run.Economists expect the current quarter to be the most damaging for Australia.“The recent price action is an exaggerated rendition of the global economy’s normalization in the wake of the Covid-19 shock,” said Valentin Marinov, head of G-10 currency research at Credit Agricole in London. “The rally in risk-correlated and commodity currencies may start losing momentum going forward.”(Adds quotes from St. George Bank and Credit Agricole)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
It’s all about the U.S labor statistics later today. How’s Trump going to spin this one? Perhaps more attacks on China…
Shares of top airline stocks soared on Thursday after American Airlines (AAL) said it is planning on increasing flights for July amid a rise in demand and coronavirus lockdowns being lifted.
(Bloomberg Opinion) -- American Airlines Group Inc. shares surged more than 35% on Thursday after the company signaled a rebound in air travel. If, like many Americans, you’re currently planning a 10-hour-plus summer road trip with the family you’ve been holed up with for months to avoid spending a fraction of the time with dozens of strangers on a plane, that may seem a bit odd.Maybe you’re the weird ones, you might think, as you search for the Transportation Security Administration checkpoint data you’ve seen referenced in many news articles. But you're still in the majority: Sure, traffic is up from the most restrictive lockdown days of April and March, but the number of U.S. fliers on Wednesday was just 13% of what it was the same time last year. Going further down the Internet rabbit hole, you might see that American’s head of personnel said in a memo literally a week ago that the carrier would need to dramatically shrink “for the foreseeable future” and cut 30% of its management and support staff. Welcome to the world of stock trading in the coronavirus era. These days, the actual numbers matter less to investors than momentum. Any sign of a recovery from the coronavirus destruction, however modest or nascent, is richly rewarded. That’s especially true for companies such as American, which had seen an elevated level of bearish bets made against it by short-sellers. These holders can be squeezed by unexpected good news, and they can magnify a rally as they scramble to buy back the stock to cover their wagers. To be fair, American did report good news on Thursday. The company said it was adding flights for July after seeing increased demand from leisure travelers for trips to states that have reopened, such as Florida, Georgia and South Carolina, as well as interest in visits to national parks in Utah, Wyoming, Montana and Colorado. That will boost July capacity to 40% of last year’s levels, compared with a June schedule that’s 30% of a year earlier and May operations that were a mere 20% of normal traffic. This kind of steady improvement is encouraging because it suggests that a recovery in air travel may not be the multi-year battle that many in the industry have indicated. That’s the glass-half-full take. The half-empty take is that July capacity will still be down 60% from a year earlier. However you slice it, that is still terrible and in any other environment would be a downright catastrophe. That first wave of returning passengers is also likely the easiest group to win back. A recovery in international and longer-haul business travel, where airlines make most of their money, will be much harder, with American restoring service to eight overseas destinations but delaying the return of other flights. American’s load factor, or the average percentage of filled seats, was 55% in the last week of May, up from 15% in April but still down significantly from 86.6% in the second quarter of last year. American hasn’t followed rival Delta Air Lines Inc. in guaranteeing an empty middle seat, though the carrier said it would offer an unspecified percentage of passengers the option to rebook on empty planes if their flight is relatively full and deemed “eligible.” A lack of social distancing on flights has elicited grumbles on social media from those who have been brave enough to fly during the pandemic, and poor experiences won’t encourage those people to get back on a plane again soon.Perhaps most important, yet another sizable uptick in fresh jobless claims this week raises the question of how many people will be financially capable of paying for flights this year, even if they’re comfortable with the concept of plane travel. Despite its positive tone on Thursday, American itself has yet to walk back any of its own comments about the need for severe cuts to its staff. “Aviation is still in a fragile state,” Vertical Research Partners analyst Rob Stallard wrote in a note on Thursday. “There is a clear risk that aero share prices have got ahead of the fundamentals here.”So go ahead, travel — and buy travel-related stocks — but do it at your own risk. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Shares of Boeing (NYSE: BA) airplane-parts supplier Spirit AeroSystems (NYSE: SPR) stock are up a strong 8.5% in 1:55 p.m. EDT trading Thursday -- and if I had to take a guess, I'd say they're up for the same reason Boeing itself is up today: Hope that airlines are getting healthier. In a column earlier today, Barron's magazine pointed out that American Airlines saw 71% sequential growth in passengers between April and May and is planning to expand capacity on domestic flights to about 55% of "normal" by July. More airplanes flying also means, though, that more airplanes will eventually get worn out and need to be replaced.
It has gotten to the point that Warren Buffett’s investment miscues are drawing the attention of President Donald Trump, who teased Buffett on Friday at the White House for dumping airline stocks before their recent surge. “Warren Buffett sold airlines a little while ago,” Trump said. It looks as if the 89-year-old Buffett erred by selling roughly 10% stakes in each of the top four U.S. airlines near the bottom in April.