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☆ Gold, bitcoin and stocks hit record highs this week. Then came inflation data
▼ + stars: | 2024-03-15 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

The S&P 500 declined 0.7% and the Nasdaq Composite fell 1%. Turbulence for airline stocksAirline stocks have also been pummeled this week, as years of safety issues at Boeing continue to plague the industry. The NYSE Arca Global Airline index, which tracks the performance of major American and overseas airlines, is on track to end the week 2.2% lower. But Liz Young, head of investment strategy at SoFi, notes that the S&P 500 hasn’t seen a one-day decline of 2% or more since last February. AI up-and-comer Super Micro Computer will join the benchmark S&P 500 index on Monday.

Persons: New York CNN — Stocks, shrugged, Gold, Bitcoin, Dow, Price, ”, Ken Tjonasam, Max, Robert Jordan, Liz Young, Young, “ It’s, What’s, Jensen Huang Organizations: New, New York CNN —, Federal Reserve, Nasdaq, Dow, Global, Airline, Boeing, Latam, Wall, Southwest Airlines, Airbus, “ Boeing, ”, JPMorgan Chase, NYSE Arca, Nvidia, Computer, Investors, Federal, Market Committee, Fed, National Association of Home Builders, Census Bureau, National Association of Realtors Locations: New York, Australia, New Zealand, Wells Fargo

☆ Carl Icahn wins seats on JetBlue board after taking stake in airline
▼ + stars: | 2024-02-16 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

A JetBlue Airways plane prepares to take off from the Fort Lauderdale-Hollywood International Airport on January 31, 2024 in Fort Lauderdale, Florida. Carl Icahn won his push for seats on JetBlue Airways' board of directors, according to a statement from the airline Friday, days after disclosing a nearly 10% stake in the New York-based airline and that he was in talks for board representation there. The two new directors are Jesse Lynn, general counsel of Icahn Enterprises, and Steven Miller, a portfolio manager of Icahn Capital. The JetBlue investment isn't Icahn's first investment in the airline industry. Icahn said in disclosing his JetBlue stake that he believes the shares are undervalued.

Persons: Carl Icahn, Jesse Lynn, Steven Miller, Icahn, Joanna Geraghty, Geraghty, JetBlue hasn't Organizations: JetBlue Airways, Fort, Hollywood International Airport, Icahn Enterprises, Icahn, JetBlue, TWA, NYSE Arca, Spirit Airlines Locations: Fort Lauderdale, Fort Lauderdale , Florida, New York

☆ JetBlue resets with new CEO, industry veterans to run airline on time, and profitably
▼ + stars: | 2024-02-12 | by ( Leslie Josephs | ) www.cnbc.com time to read: +6 min

In this article JBLU Follow your favorite stocks CREATE FREE ACCOUNTA JetBlue Airways plane prepares to depart New York's LaGuardia Airport. Leslie Josephs | CNBCIn the 24 years since JetBlue Airways ' first flight, the New York-based airline has pushed the envelope for a carrier of its size. And, until a judge blocked the deal last month, it planned to buy budget airline Spirit Airlines for $3.8 billion. Last week, JetBlue said it has hired back the airline's former chief commercial officer, Marty St. George, 59, as president. A JetBlue Airways plane sits on the tarmac at the Fort Lauderdale-Hollywood International Airport on January 31, 2024 in Fort Lauderdale, Florida.

Persons: Leslie Josephs, it's, Joanna Geraghty, Robin Hayes, Carl Icahn, Geraghty, Chris Ratcliffe, we've, Marty St, George, Marty, Henry Harteveldt, George's, Warren Christie, JetBlue, We've, Brett Snyder, Snyder, Spirit, Joe Raedle Organizations: JetBlue Airways, New, LaGuardia, CNBC, JetBlue, Spirit Airlines, JetBlue Airways Corp, World Aviation, Bloomberg, Getty, Latam Airlines, United Airlines, US Airways, Atmosphere Research, Transport Workers Union Local, Street, NYSE, Department of Transportation, discounter Frontier Airlines, Fort, Hollywood International Airport Locations: New York, London, Paris, Amsterdam, Dublin, U.S, Delta, United, punctuality, Fort Lauderdale, Fort Lauderdale , Florida

☆ JetBlue shares jump 15% as activist Carl Icahn reports stake and calls shares undervalued
▼ + stars: | 2024-02-12 | by ( Sara Salinas | In Saracsalinas | ) www.cnbc.com time to read: +2 min

Activist investor Carl Icahn on Monday reported a nearly 10% stake in JetBlue Airways , saying the airline stock is undervalued. Shares of JetBlue spiked more than 15% in extended trading. Icahn amassed the stake in a series of purchases in January and February, according to regulatory filings. He has had plans to continue discussions with the company "regarding the possibility of board representation," the records said. JetBlue has been cutting costs and working to improve operations in an effort to return to profitability after a post-Covid travel surge and a blocked merger with budget carrier Spirit Airlines.

Persons: Carl Icahn, Icahn, Joanna Geraghty, —, John Melloy, Leslie Josephs Organizations: JetBlue Airways, JetBlue, Icahn, TWA, Spirit Airlines, NYSE Arca, CNBC PRO

☆ Premarket stocks: Airline stocks are getting pummeled. Here are four reasons why
▼ + stars: | 2024-01-18 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —It’s been a tough month for shares of airline companies. Here’s why investors are getting out of airline stocks. Boeing’s “can of worms”: Boeing’s problems began on Jan. 5, when the door plug on an Alaska Airlines Boeing 737 Max 9 detached mid-flight. Oil prices are volatile: Investors are also concerned about a possible spike in oil prices. United Airlines Holdings shares have declined 8% so far in January and American Airlines Group shares have fallen 6%.

Persons: New York CNN — It’s, Wells, “, Max, JetBlue’s, Patrick T, Fallon, Brent, Ed Bastian, Antony Blinken, CNN’s Jennifer Hansler, Bryan Mena, Read Organizations: CNN Business, Bell, New York CNN, NYSE, Alaska Airlines Boeing, Max, Boeing, Alaska Airlines, US Federal Aviation Administration, National Transportation Safety, FAA, ”, Spirit Airlines, JetBlue, Spirit, CNN . Spirit Airlines Airbus, JetBlue Airlines Airbus, Los Angeles International Airport, Getty, US Justice Department, Hawaiian Airlines, Hawaiian Holdings, US, . West Texas, Delta Air Lines, Delta, United Airlines Holdings, American Airlines Group, Blinken’s Boeing, Commerce Department Locations: New York, Washington, Boston, AFP, Iran, Yemen, Davos, Zurich, deplane

☆ A bearish options trade that pays off if hotel stocks start to feel a travel slowdown like airlines
▼ + stars: | 2023-11-08 | by ( Tony Zhang | ) www.cnbc.com time to read: +3 min

As airlines continue to add capacity after a year of record demand for revenge travel, consumer demand after the pandemic is showing signs of slowing. Airline stocks have already lost about a third of their value in the last three months, yet hotel shares have held up fairly well. If we look at the implied volatility of MAR options, it isn't particularly high, however the skew between at-the-money options and out-of-the-money options are quite high and provide a unique opportunity to sell a neutral to bearish call spread. I'm looking out to the Dec 22 Weekly expiration to sell the $195/$205 call vertical spread. (Reminder a vertical spread involves buying or selling options with same expiration but different strikes.)

Persons: it's Organizations: NYSE, Marriott Locations: Europe, Asia

☆ US airline investors worry the travel boom may be coming in for a landing
▼ + stars: | 2023-10-18 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +4 min

Those concerns are battering airline stocks even as earnings reports point to a continuing consumer appetite for travel. While both United and Delta said travel demand is holding up, double-digit declines in airfares year-over-year suggest airline pricing power has peaked. United, which has not forecast profit for 2024, on Tuesday similarly said travel demand remains "strong and steady." New labor contracts as well as the higher fuel prices mean cost pressures aren't going away. American Airlines (AAL.O) and Alaska Air (ALK.N), who will report earnings Thursday, have cut their third-quarter profit estimates due to higher fuel costs.

Persons: Eduardo Munoz, Brian Mulberry, Delta, Ed Bastian, Mulberry, United, Michael Leskinen, Conor Cunningham, Rajesh Kumar Singh, Ben Klayman, Rod Nickel Organizations: United Airlines, Newark Liberty International Airport, REUTERS, Rights, NYSE, Zacks Investment Management, Delta Air Lines, United, Delta, New, American Airlines, Alaska Air, Melius, Thomson Locations: York, Newark , New Jersey, U.S, Chicago, United, Israel, Tel Aviv

☆ United Airlines to announce order for 110 Airbus, Boeing jets -sources
▼ + stars: | 2023-10-03 | by ( Valerie Insinna | ) www.reuters.com time to read: +2 min

A United Airlines Airbus A319-100 jet takes off from Washington National Airport in Washington, U.S., August 9, 2017. Airbus, Boeing and United declined to comment. Demand has rebounded for long distance widebody jets to meet international travel demand. Weakening pricing power in United's domestic market has sparked concerns about travel demand, reflected in airline share prices. At the time, the order sparked concerns about United Airlines' balance sheet.

Persons: Joshua Roberts, Richard Aboulafia, Jefferies, Aboulafia, Valerie Insinna, Mehr Bedi, Tim Hepher, David Shepardson, Shounak Dasgupta, William Maclean, Bernadette Baum, David Gregorio Our Organizations: United Airlines Airbus, Washington National Airport, REUTERS, Rights, United Airlines, Boeing, Airbus, Reuters, United, Air Canada, Air France, KLM, NYSE, Carriers, Thomson Locations: Washington , U.S, Washington, Bengaluru

☆ Recent pullback creating a buying opportunity in certain airline stocks, says Deutsche Bank
▼ + stars: | 2023-09-05 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

A recent sell-off in airline stocks has created an attractive entry point — but investors should be careful about which names they buy, according to Deutsche Bank. Airline stocks have pulled back about 15% since peaking in mid-July, analyst Michael Linenberg told clients in a note released Monday. That comes as investors attempt to gauge how rising fuel prices, increases in domestic capacity and macro economic uncertainty will impact these companies. AAL DAL,UAL YTD mountain The three airlines this year Airline stocks, he said, are discounting a hard economic landing unlike the broader market. High fuel prices have also been a key driver of downward pressure on these stocks, he said.

Persons: Michael Linenberg, Linenberg, AAL DAL, — CNBC's Michael Bloom Organizations: Deutsche Bank . Airline, NYSE Arca, nab, International, Sun Locations: Delta, United, China, Alaska, Allegiant, SkyWest

He said that once implemented, the prices on negotiated drugs will decrease for up to 9 million seniors who currently pay as much as $6,497 in out-of-pocket costs per year for these prescriptions. This kicks off the negotiation process for the 10 drugs whose new prices will go into effect in 2026. U.S. laws had prohibited Medicare from negotiating pharmaceutical prices as part of its prescription drug program that began about 20 years ago. CMS Director Dr. Meena Seshamani said Medicare plans to use a review process to make sure insurance companies keep clinically appropriate access to negotiated drugs. Two analysts said they expect the negotiated prices to move beyond Medicare and affect commercial markets for these drugs by 2026, when they come into effect.

Persons: Joe Biden, Jonathan Ernst, Biden, Joe Biden’s, Januvia, Xarelto, Johnson, Boehringer Ingelheim, Eli Lilly's, Jardiance, Mohit Bansal, Entresto, Eli Lilly, Merck, Bristol Myers, Giovanni Caforio, Caforio, enrollees, Meena Seshamani, Stelara, Amgen, Evan Seigerman, Patrick Wingrove, Mike Erman, Manas Mishra, Nandita Bose, Caroline Humer, Bill Berkrot Organizations: Social Security, University of Tampa, REUTERS, U.S, Bristol Myers Squibb, Pfizer, Merck, Co's, Johnson, Novo Nordisk, NYSE Arca Pharmaceutical, U.S . Centers, Medicare, Medicaid Services, Reuters Graphics Wells, Novartis, AstraZeneca, Bristol, J, U.S . Department of Health, Human Services, BMO Capital, Thomson Locations: Tampa , Florida, U.S, Amgen's, Jardiance, Germany, Bengaluru, Washington

☆ A spot bitcoin ETF is much closer to reality, but investors aren't quite there yet
▼ + stars: | 2023-08-29 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

The court simply said that the SEC has erred in approving one ETF (bitcoin futures) and not approving another (spot bitcoin). 1) Approve all or some of the nine applications for a spot bitcoin ETF as soon as possible. Applicants for a spot bitcoin ETFGrayscale Bitcoin TrustArk/21 Shares Bitcoin TrustBitwise Bitcoin ETF TrustBlackRock Bitcoin ETF TrustVanEck Bitcoin TrustWisdomTree Bitcoin TrustValkyrie Bitcoin FundInvesco Galaxy Bitcoin ETFFidelity Wise Origin Bitcoin Trust2) Delay as long as the law allows. Even assuming a spot bitcoin ETF is coming, it doesn't mean Grayscale can necessarily jump the line. Note: Matt Hougan Chief Investment, Officer for Bitwise Asset Management, one of the applicants for a spot bitcoin ETF, will appear on ETF Edge on Halftime Report Wednesday.

Persons: Gary Gensler, Who's, Matt, Craig Salm, Grayscale's, Jeremy I, VedderPrice Organizations: Appeals, Federal Circuit, Washington , D.C, SEC, U.S, BlackRock, Fidelity, Bitcoin, Federal Register, Investment, Bitwise Asset Management, Edge Locations: Washington ,

☆ Sluggish return of business travelers forces US airlines to rejig their networks
▼ + stars: | 2023-08-03 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +5 min

Before the pandemic hit in 2020, corporate travel was the travel industry's cash cow. Investors in travel companies are concerned that the spending from vacationers cannot make up the shortfall. For months, Alaska Air's (ALK.N) business bookings have been 25% below pre-pandemic levels. JetBlue Airways (JBLU.O) said on Tuesday it will redeploy capacity away from New York to high-margin leisure destinations with business travel demand 20% below pre-pandemic levels. Recent passenger screening and fare data shows U.S. travel demand has peaked, hurting the carriers' pricing power.

Persons: Ronald Reagan, Kevin Lamarque, Shane Tackett, Bob Jordan, Kevin Kopelman, Luis Gallego, JPMorgan Chase, Goldman Sachs, Morgan Stanley, Rajesh Kumar Singh, Doyinsola Oladipo, Sarah Young, Joanna Plucinska, David Gaffen, Matthew Lewis Organizations: Ronald Reagan Washington National Airport, REUTERS, U.S, Investors, Airlines for America, Reuters, JetBlue Airways, Southwest Airlines, Marriott, MasterCard, Delta Air Lines, American Airlines, NYSE, Cowen, British Airways, IAG, Google, JPMorgan, Thomson Locations: Ronald Reagan Washington, Arlington , Virginia, U.S, Alaska, Seattle, Mexico, Costa Rica, California, New York, Asia, Pacific, Europe, Chicago, London

Investors have been jittery about the strength of domestic travel demand, as recent fare data shows ticket prices have peaked. Like leisure carrier Alaska Air (ALK.N), JetBlue said soaring demand for long-haul international trips has led to a drop in domestic travel. While JetBlue expects the trend to improve in the fourth quarter, around the winter holidays, it is still estimated to hurt the company's full-year earnings. JetBlue now expects full-year adjusted profit of 5 cents to 40 cents per share, compared with its previous forecast of 70 cents to $1 per share. Profit for the second quarter came in at 45 cents per share, compared with analysts' average estimate of 44 cents per share, according to Refinitiv data.

Persons: Chris Helgren, Pratt, Ursula Hurley, Rajesh Kumar Singh, Anil D'Silva, Jan Harvey Organizations: JetBlue, Newark Liberty International Airport, REUTERS, JetBlue Airways, American Airlines, NYSE, Investors, Carriers, Alaska Air, Pratt & Whitney, Airbus, Pratt, Whitney, Thomson Locations: New York City, New Jersey, U.S, York, Boston, New York, Chicago, Bengaluru

☆ Airlines say domestic fares are sliding and threatening to chill record revenue growth
▼ + stars: | 2023-07-27 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

Southwest Airlines , Alaska Airlines and American Airlines are among the carriers that have forecast slower revenue growth or weakness for the third quarter, despite strong demand. The NYSE Arca Airline index is down more than 6% this week, slimming its gains to 37% so far this year. Southwest on Thursday said it expects unit revenue to drop as much as 7% in the current quarter from a year ago on a 12% increase in capacity. An airline's revenue per available seat mile is a measure of how much a carrier generates compared with how much capacity they're offering. Meanwhile, Alaska Airlines this week forecast third-quarter revenue ranging from flat to up 3% and unit revenues down about 9% "at the midpoint," with capacity up as much as 13% compared with last year.

Persons: Hopper, Ben Minicucci Organizations: Southwest Airlines, Alaska Airlines, American Airlines, NYSE, Airline, Domestic, Southwest, Delta Air Lines, United Airlines Locations: airfare, Dallas, Alaska, Europe, Asia

☆ Fidelity spot bitcoin ETF application refiled with U.S. SEC
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +2 min

June 29 (Reuters) - Asset manager Fidelity is once again seeking to list and trade shares of its Wise Origin Bitcoin Trust spot bitcoin exchange-traded fund, according to a filing by listing exchange Cboe Global Markets (CBOE.Z) with the U.S. Securities and Exchange Commission. Fidelity is one of several big asset managers that have applied to list bitcoin ETFs recent weeks. The SEC has rejected dozens of spot bitcoin ETF applications in the past few years, including one from Fidelity in January 2022. The first bitcoin futures ETF was approved in October 2021, helping send the volatile bitcoin to an all-time high of $69,000 in November 2021, and raising hopes that a spot bitcoin ETF would soon be approved. Spot ETFs directly track the price of the cryptocurrency, while futures-based ETFs follow the price of bitcoin futures contracts.

Persons: VanEck, Bitcoin, Niket, John McCrank, Shinjini Ganguli, Shweta Agarwal, Daniel Wallis Organizations: Fidelity, U.S . Securities, Exchange Commission, BlackRock, Nasdaq, NYSE Arca, Intercontinental Exchange Inc, Coinbase, SEC, Thomson Locations: Bengaluru, New York

☆ Factbox: Financial firms line up spot bitcoin exchange-traded fund applications
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +4 min

Stock picker Cathy Wood's Ark Invest and Swiss-based exchange-traded fund (ETF) issuer 21Shares on Wednesday amended their bitcoin ETF application, while asset manager Fidelity is also expected to file a spot bitcoin ETF application, trade publication The Block reported on Tuesday. The U.S. Securities and Exchange Commission (SEC) has rejected dozens of applications for spot bitcoin ETFs, saying the proposals have not met anti-fraud and investor protection standards. These are the major firms with live SEC applications:BLACKROCK(BLK.N) - The world's biggest asset manager filed for a bitcoin ETF on June 15. INVESCO(IVZ.N) AND GALAXY DIGITAL - Invesco reactivated its September 2021 application to launch the Invesco Galaxy Bitcoin ETF on Cboe's BZX exchange. VANECK - VanEck refiled on June 22 to for approval to launch the VanEck Bitcoin Trust on Cboe's BZX exchange.

Persons: Cathy, 21Shares, BlackRock's, BNY, Cboe BZX, WisdomTree, refiled, John McCrank, Michelle Price, Daniel Wallis Organizations: U.S, Invest, Fidelity, U.S . Securities, Exchange Commission, SEC, BLACKROCK, Nasdaq, BNY Mellon, Ark, 21Shares, Company, U.S . Bank, National Association, Invesco, Galaxy, NYSE Arca, Valkyrie, Thomson Locations: BlackRock, Swiss

Pfizer CEO Albert Bourla has said an obesity pill could eventually be a $10-billion-a-year product for Pfizer. Truist Securities analyst Robyn Karnauskas said Lilly is now ahead in the race for a once-a-day obesity pill. Pfizer said last month that danuglipron helped patients lose weight on par with Novo Nordisk's (NOVOb.CO) Ozempic in a mid-stage study that tested it in patients with Type 2 diabetes. None of the patients in the lotiglipron trials reported liver-related symptoms or side effects, there was no evidence of liver failure and none required treatment, Pfizer said. Liver enzyme elevations observed in lotiglipron trials have not been seen in patients enrolled in danuglipron trials, the company added.

Persons: Albert Bourla, Eli Lilly, LLY.N, Robyn Karnauskas, Lilly, Pfizer, danuglipron, Manas Mishra, Leroy Leo, Michael Erman, Pooja Desai, Jason Neely, Deepa Babington Organizations: Pfizer Inc, Pfizer, NYSE Arca Pharmaceutical, Truist Securities, Novo Nordisk's, Thomson Locations: United States, Bengaluru, New Jersey

☆ NYSE to bust erroneous CDW Corp trades as shares briefly dive 96%
▼ + stars: | 2023-05-18 | by ( Medha Singh | ) www.reuters.com time to read: +2 min

May 18 (Reuters) - NYSE Arca Equities is looking into likely erroneous trades in the shares of IT solutions provider CDW Corp (CDW.O) after they briefly plunged as much as 96% to $7 in premarket trading on Thursday. The exchange operator, owned by Intercontinental Exchange (ICE.N), said it would bust all trades in the stock between 04:00 a.m. CDW Corp shares quickly recouped most of their losses and were last down 0.7% at $172.09 before the bell. ET, closed at $173.25 with a market value of $23.35 billion on Wednesday. CDW Corp and CaliberCos did not immediately respond to a Reuters requests for a comment.

☆ Airline stocks slide despite CEOs' upbeat demand outlook
▼ + stars: | 2023-03-15 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Airline stocks slid Wednesday as the market fell broadly amid concerns over stability of some banks and new data that showed a slowdown in consumer spending. Airline executives during a JPMorgan industry conference on Tuesday said they expect strong demand — and profits — in 2023, despite higher costs, with leisure travel continuing to lead the way. Consumer appetite for air travel has surged over the past year and higher fares have boosted airlines' bottom lines. "As I tell many of my CEO friends across the industry and outside of the industry, I know where your employees are. "And that's because of the new way of work, the new hybrid, new mobility.

CHICAGO, March 13 (Reuters) - United Airlines Holdings Inc (UAL.O) on Monday forecast an unexpected loss in the current quarter, citing lower demand as well as higher costs from a potential contract deal with pilots. Booming travel demand has allowed U.S. carriers including United to offset cost pressures with higher ticket prices. United said a combination of lower-demand in January and February and higher capacity has weakened its pricing power. The Chicago-based carrier now expects an adjusted loss between 60 cents and $1.00 per share for the quarter through March. United and American Airlines (AAL.O) are now under pressure not just to conclude their pilot contract negotiations, but also better Delta's deal.

☆ The push for a bitcoin ETF is going to court. Here's what you need to know
▼ + stars: | 2023-03-06 | by ( Jesse Pound | ) www.cnbc.com time to read: +6 min

The years-long push for an exchange traded fund that tracks bitcoin will finally get its day in court this week. Several different firms tried to bring a spot bitcoin ETF to market in the U.S. without success, but Grayscale Investments is taking it a step further for the future of its Grayscale Bitcoin Trust (GBTC) . The largest of those funds, the ProShares Bitcoin Strategy ETF (BITO) , now has nearly $800 million in assets under management. Over the past year, the market price of a GBTC share has fallen by roughly 60%, according to Grayscale's website. Crypto winter The excitement around a bitcoin ETF has cooled considerably along with the prices for crypto markets in general.

☆ U.S. airlines sound bullish on travel demand despite recession risk
▼ + stars: | 2023-01-18 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +3 min

CHICAGO, Jan 18 (Reuters) - U.S. airlines on the back of strong financial results remain upbeat about travel demand, even as economists and analysts say the risk of an economic recession has gone up. United Airlines (UAL.O) and Delta Air Lines (DAL.N) reported higher-than-expected quarterly earnings on resilient consumer demand, while American Airlines (AAL.O) lifted its profit outlook. Carriers are enjoying the strongest travel demand since the start of the COVID-19 pandemic, boosted by reopening of closed borders, a strong U.S. dollar and rising corporate travel. While recession fears have sparked concerns about consumer spending, airline executives say travel demand is not likely to wane any time soon. United estimates domestic passenger revenue previously accounted for about 0.5% of the country's gross domestic product.

☆ Why Biotech Is Poised for a Recovery This Year
▼ + stars: | 2023-01-17 | by ( David Wainer | ) www.wsj.com time to read: 1 min

The SPDR S&P Biotech ETF is up 5.9% and the NYSE Arca Pharmaceutical Index is down marginally at the start of the year. The drug industry is now divided between the haves and the have-nots. That wide gap in mood was in stark relief as thousands of industry professionals descended upon San Francisco last week for JPMorgan ‘s big healthcare conference. On one side were giddy pharma executives with plenty of access to cash and their stocks trading near record highs. On the other side, there were cash-strapped small biotech bosses, speaking of layoffs and suspended clinical trials.

☆ Bank of America just added these biotech stocks to its list of first-quarter picks
▼ + stars: | 2023-01-09 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

BofA has added a number of biotechnology stocks — a sector that is hot on Wall Street right now – to its list of top picks for the first quarter. The bank identified the biotech stocks, as well as some medical technology companies, as part of its thematic investing picks, on themes it says are related to a "transforming world." BofA listed the stocks under themes such as ageing, obesity and pandemic. The bank added biotech firm BioNTech , as well as medical equipment company ResMed , to its list under this theme. The bank added medical technology firm Silk Road Medical , along with biotech firms Cerevel and Denali , to its list of stocks to play this theme.

☆ Health-care stocks are looking good for 2023 and not just because the sector is a 'safe haven'
▼ + stars: | 2022-12-21 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +9 min

Investors looking for cover this year would have done well if they sought a safe haven in large-cap pharmaceutical stocks, a trend that is likely to continue into 2023. The Inflation Reduction Act provided some clarity around drug pricing that should help health-care stocks. The average price target, according to FactSet, is $62, or nearly 40% above the stock's closing price on Tuesday. Gene therapies in focus Investors will be closely watching the progress of several gene therapies, according to Phipps. "Yes, these are expensive therapies," Phipps said.

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