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☆ Earnings playbook: Your guide to trading the biggest reports of the week, including Netflix and Goldman Sachs
▼ + stars: | 2024-04-14 | by ( Fred Imbert | ) www.cnbc.com time to read: +8 min

What history shows: Goldman Sachs beats earnings estimates 85% of the time, according to Bespoke Investment Group. What CNBC is watching: Bank of America shares have struggled lately, losing 5.6% this month as investors reprice rate cut expectations. Morgan Stanley is set to report earnings before the open. United Airlines is set to report earnings after the close. Thursday Netflix is set to report earnings after the close.

Persons: Goldman Sachs, Morgan Stanley, JPMorgan Chase, Goldman, Devin Ryan, Morgan, Ryan, UNH, UnitedHealth, LSEG, UAL, Leslie Josephs, Oppenheimer, Jason Helfstein, Procter & Gamble, Dara Mohsenian, Procter Organizations: Bank of America, Netflix, JPMorgan, CNBC, JMP Securities, Investment, Tuesday Bank of America, UBS, BofA, Dow Jones Industrial, Street, United Airlines, Boeing, Max, Federal Aviation Administration, San Francisco, United, Procter & Locations: Charlotte, San, U.S, China

☆ 3 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-04-13 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Heightened tensions in the Middle East, including the possibility of Iran attacking Israel, sent stocks back down and oil prices higher. If the choice is between a weak economy with lower rates or a strong economy with higher rates, we'll take the strong economy every time. Low rates may help with valuation multiples, but it's a strong economy that leads to earnings growth and that's what we, as long-term investors care about. Shelter costs are a major sticking point for overall inflation, which makes Tuesday's housing starts and building permits report a key watch item. We'll get another look at housing with the release of the March existing home sales report on Thursday.

Persons: we've, we'll, Morgan Stanley, Wells, bode, we're, Goldman Sachs, Charles Schwab, Johnson, ERIC, JB Hunt, Kinder Morgan, DR, Ally, Huntington, Jim Cramer's, Jim Cramer, Jim, Abbott, Ethan Miller Organizations: Dow Jones, Wednesday, Federal Reserve, Abbott Labs, Cardiovascular Systems, Diagnostics, Procter & Gamble, Constellation Brands, Procter, T Bank, Bank of America, Bank of New York Mellon, BK, PNC Financial, PNC, Ericsson, United Airlines, Interactive, ASML Holdings, US Bancorp, Citizens, Alcoa, CSX, Discover Financial, Nokia, Alaska Air, Blackstone BX, McLennan, Netflix, PPG Industries, Gamble, Financial, American Express, Jim Cramer's Charitable, CNBC, Las Vegas Convention, Getty Locations: Iran, Israel, China, Marsh, Las Vegas , Nevada

☆ US airlines ask Biden administration to block additional flights to China
▼ + stars: | 2024-04-12 | by ( Diksha Madhok | ) edition.cnn.com time to read: +3 min

CNN —The US aviation industry has asked the Biden administration to pause approval of additional flights to and from China, saying Beijing’s “existing harmful anti-competitive policies” hurt American airlines and workers. The letter was signed by industry lobby group Airlines for America — whose members include American Airlines (AAL), Delta (DAL) and United (UAL) — and other unions representing aviation workers, including the Air Line Pilots Association. Chinese carriers were given approval by US officials to make 50 weekly round trips to and from the United States, up from 35, from March 31. “These actions demonstrated the clear need for the US government to establish a policy that protects US aviation workers, industry and air travelers,” it said. “It [boosting flights] will help the two peoples strengthen exchanges and enhance mutual understanding,” the ministry added.

Persons: Biden, ”, Antony Blinken, Pete Buttigieg, America —, Washington, Xi Jinping, Joe Biden, — Hassan Tayir Organizations: CNN, Airlines, America, American Airlines, DAL, Air Line Pilots Association Locations: China, Delta, United States, Ukraine, San Francisco

☆ These are the cheapest stocks in the S&P 500 at the start of the second quarter
▼ + stars: | 2024-04-04 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

With the stock market's new quarter off to a lukewarm start so far, CNBC Pro has ideas for investors searching for value. Given the run-up in momentum stocks and concerns about a second-quarter pullback, CNBC Pro screened for names with cheap valuations that might offer value. To find these names, CNBC Pro screened for the following criteria: Forward and trailing price-to-earnings multiples both below 12. He recently called GM a top pick with a price target of $95 — reflecting the potential for shares to rally more than 110%. The consensus rating among analysts polled by LSEG is a buy, with an average price target implying more than 42% upside.

Persons: Motors, LSEG, Itay Michaeli, Michaeli, SPX DAL Organizations: CNBC, CNBC Pro, Trust, Citi, GM, Air, Delta, United Delta, LSEG Locations: United

☆ Why airlines are raising baggage fees — and charging you more at the airport
▼ + stars: | 2024-02-24 | by ( Leslie Josephs | ) www.cnbc.com time to read: +4 min

United Airlines , American Airlines and JetBlue Airways are among the carriers that have raised the price to check bags this year. Earlier this week, American Airlines raised its checked bag fees for the first time in more than five years and adopted the two-tiered strategy that United, JetBlue and several budget airlines already have. American Airlines previously charged $30 for either service. Why are airlines raising baggage fees? Airlines have argued that higher costs such as labor and fuel, their biggest expenses, mean they had to raise bag fees.

Persons: Scott Olson, Barry Biffle, Biffle Organizations: O'Hare International, Getty, Getty Images Airlines, United Airlines, American Airlines, JetBlue Airways, United, JetBlue, CNBC, Frontier, Transportation, Airlines Locations: Chicago, North America

☆ Friday analyst calls: Street sticking with Pinterest, Citi upgrades Liberty Global, United Airlines could surge
▼ + stars: | 2024-02-09 | by ( Hakyung Kim | ) www.cnbc.com time to read: +11 min

United Airlines' shares got a premarket lift following an upgrade at Evercore, and Bank of America dropped its price target on Expedia. He raised the price target to $300 from $225, which implies shares could gain 14.6% from Thursday's close. He also lowered his price target to $181 from $156, which implies 13.5% upside potential from Thursday's close. ET United Airlines shares could surge 56%, according to Evercore Evercore upgraded shares of United Airlines to outperform from in-line. He reiterated his $48 price target on shares, which suggests around 18% upside from the stock's closing price on Thursday.

Persons: Pinterest, Morgan Stanley, TransDigm, CyberArk, Tal Liani, Liani, Kim, Justin, Post, Expedia, — Hakyung Kim, Goldman Sachs, Kate McShane, Gary Millerchip's, McShane, Evercore Evercore, Duane Pfennigwerth, Pfennigwerth, Morgan Stanley's, Kristine Liwag, Liwag, there's, LBTY, Georgios Ierodiaconou, Ierodiaconou, Stephen Ju, Ju, Goldman, Eric Sheridan, . Bank of America's Justin Post Organizations: CNBC, Citi, Liberty Global, United Airlines, Bank of America, Bank of America's, Palo, Costco, Incoming, Kroger, Liberty, Wall Street's, UBS, Pinterest, Google, . Bank of America's, Post Locations: underappreciated, Thursday's, Wall

☆ These smaller stocks could see big gains in 2024, Bank of America says
▼ + stars: | 2024-01-30 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +5 min

Against this backdrop, Bank of America on Monday released a list of best small- and mid-cap ideas for 2024. Strategist Jill Carey Hall added that this year's basket of 31 stocks has average 12-month potential upside of 29%, and is slightly tilted towards value stocks over growth. Shares of Bath & Body Works have trailed the market, rising 2.4% in 2023 and 0.4% so far in 2024. Bank of America also named United Airlines one of its top SMID ideas for 2024. Other names on Bank of America's list of SMID picks included e-commerce retailer Wayfair and aircraft leasing company Air Lease .

Persons: That's, Russell, Jill Carey Hall, Lorraine Hutchinson, Hutchinson, BofA, Geoff Meacham, Lou Gehrig's, Meacham, CyberArk, Tal Liani, Liani, Max, Andrew Didora, UAL, Didora, — CNBC's Michael Bloom Organizations: Wall, Bank of America, Monday, Body, Pharmaceuticals, TAM, United Airlines, Boeing, Bank of, Air Lease Locations: U.S, Amylyx, cybersecurity, CY26, Chicago

☆ Earnings playbook: Your guide to the biggest reports this week, including Netflix and Tesla
▼ + stars: | 2024-01-21 | by ( Fred Imbert | ) www.cnbc.com time to read: +10 min

Nearly 70 S & P 500 companies are slated to report earnings this week. Of the roughly 52 S & P 500 companies that have reported, just 69% have beaten earnings expectations, according to FactSet. What history shows: Bespoke Investment Group data shows United beats earnings expectations 70% of the time. What history shows: Bespoke data shows Netflix exceeds earnings estimates 81% of the time. What history shows: Bespoke data shows Alaska Air tops bottom-line estimate 72% of the time.

Persons: Buckle, Leslie Josephs, Max, Procter & Gamble, Robert Ottenstein, Procter, headwinds, Trian's Nelson Peltz, —, Alan Gould, Jordan Novet, Tesla, TSLA, Elon Musk, Elon, Jefferies, Philippe Houchois, INTC, Timothy Arcuri Organizations: Netflix, Intel, Investors, CNBC, Monday United Airlines, Boeing, Max, Alaska Airlines, FAA, Procter &, Procter, Gamble, HBO, IBM, ISI, Alaska Air Group, Alaska Air, Nvidia, AMD, UBS Locations: Alaska, U.S, China, Europe

☆ The 4 most important things we're watching in the stock market this coming week
▼ + stars: | 2024-01-20 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

Fortunately, we'll get useful information in the coming weeks as earnings season ramps up and updated inflation data is released. We really want to see more supply come into the market to provide some relief on shelter costs. Looking to next week, we'll get a several key economic updates and a ramp up of earnings releases. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Morgan Stanley, we'll, Procter & Gamble, we've, We're, we're, We'll, Forex, Brown, BRO, Zions, CrossFirst, Johnson, Lockheed Martin, Horton, ERIC, Baker Hughes, Abbott, ABT, Clark, BOK, Monro, Simmons, United Community Banks, Lam, Ethan Allen Interiors, Raymond James Financial, Sherwin, Williams, Northrop, Murphy, Arthur J, Levi Strauss, LEVI, Booz Allen, Jim Cramer's, Jim Cramer, Jim, John Gress Organizations: Nasdaq, Microsoft, Nvidia, Tesla, Apple, Bank of America, Reserve, Procter, Gross, Citigroup, of Hawaii, United Airlines, Logitech International S.A, AGNC Investment, Agilysys Inc, Great Southern Bancorp, Enterprise Financial Services, Independent Bank, Home Bancorp, RBB Bancorp, TrustCo Bank Corp, Gamble Co, Verizon Communications, 3M Company, General Electric Co, GE, RTX Corporation, Halliburton Company, HAL, Lockheed, Ericsson, Bank, GATX Corporation, MakeMyTrip, National Bancorp, Synchrony, Webster, Atlantic Union Bankshares Corporation, Invesco PLC, Peoples Bancorp Inc, Sandy Spring Bancorp, Netflix, Texas Instruments Incorporated, Steel Dynamics, Canadian National Railway Company, NBT Bancorp, East West Bancorp, Covenant Logistics Group, Inc, Hanmi, National Bank Holdings Corporation, Premier Financial, QCR Holdings, Renasant Corporation, Triumph, Veritex Holdings, ASML, SAP, Textron, Oriental Education, Technology Group, First BanCorp, General Dynamics, OFG Bancorp, Prosperity, TE Connectivity, United Community, Blue Foundry Bancorp, Capitol Federal, HBT, Teledyne Technologies, Business Machines, IBM, Las Vegas Sands Corp, Lam Research, United Rentals, Berkley Corp, Crown, International, Packaging Corporation of America, Seagate Technology plc, CACI, Swift Transportation Holdings, Ameriprise Financial, Concentrix Corporation, First Bank, Liberty Energy, Pathward Financial, Columbia Banking, CSX, American Airlines Group, NextEra Energy Inc, Alaska Air Group, Dow Chemical Co, Valero Energy, Southwest Airlines Co, Nextera Energy, Williams Co, Union Pacific, Applied Industrial Technologies, Mobileye, Northrop Grumman, Comcast, Nokia, TAL Education, McCormick & Company, Intel, Visa Inc, Gallagher, Co, KLA Corporation, Western Alliance, Mobile, L3Harris Technologies, Western, Olin Corporation, American Express Co, Booz, Booz Allen Hamilton Holding, Colgate, Palmolive Co, Norfolk Southern Corporation, Jim Cramer's Charitable, CNBC, Gamble's Locations: Procter &, U.S, China, ZION, Freeport, Kimberly, Las, W.R, Chicago

☆ What travelers need to know about the Boeing 737 Max 9 grounding
▼ + stars: | 2024-01-08 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Ntsb | Via ReutersAirlines have canceled hundreds of flights since the Federal Aviation Administration ordered carriers to take Boeing 737 Max 9 planes out of service for urgent inspections. The FAA grounded more than 170 Boeing 737 Max 9 planes so they can be inspected after a door plug panel blew out on Alaska Airlines Flight 1282 on Friday. United Airlines and Alaska Airlines are the biggest operators of the Boeing 737 Max 9, with 79 and 65 of the planes in their fleets, respectively. United canceled 229 mainline flights on Monday, representing about 8% of its schedule, according to FlightAware. The more common Boeing 737 Max 8 plane is not affected.

Persons: Aeromexico, it's, United Organizations: Alaska Airlines Flight, Boeing, National Transportation Safety, Ntsb, Via Reuters Airlines, Federal Aviation Administration, Max, FAA, Alaska Airlines, United Airlines, United, Copa Locations: Alaska, Portland , Oregon, Ontario , California

☆ Boeing's latest 737 Max failure narrowly avoided tragedy — but it won't avoid scrutiny
▼ + stars: | 2024-01-07 | by ( Leslie Josephs | ) www.cnbc.com time to read: +7 min

The 737 Max 9 flown by Alaska Airlines on Friday was delivered less than three months ago. United Airlines and Alaska Airlines, the largest operators of the 737 Max 9, on Saturday said they suspended flights with those planes, forcing the carriers to cancel more than 400 flights. Boeing's leadership has spent roughly five years regrouping after the 2018 and 2019 fatal crashes of its smaller and more popular Boeing 737 Max 8, which prompted a worldwide grounding of both the Max 8 and Max 9, the two types flying commercially. According to Jefferies, the 737 Max 9 represents just 2% of Boeing's backlog of more than 4,500 Max planes. Richard Aboulafia, managing director at aviation consulting firm Aerodynamic Advisory, said the problem on the Alaska Airlines plane appears to be a manufacturing defect, not an inherent design flaw.

Persons: Jason Redmond, Max, Jim Hall, I've, we've, Dave Calhoun, Calhoun, he's, Jennifer Homendy, Aerosystems, John Goglia, Jefferies, Richard Aboulafia Organizations: Reuters Boeing, Alaska Airlines, Federal Aviation Administration, FAA, National Transportation Safety Board, Boeing, United Airlines, Regulators, Airbus, hasn't, Wall Street, NTSB Locations: Renton , Washington, Portland , Oregon, Ontario , California, Portland, United, Alaska

U.S. District Judge William Young told a JetBlue lawyer that he expected airline fares would rise if no-frills, ultra-low-cost Spirit no longer was around to "undercut everyone else" and drive down prices. The four largest U.S. carriers - United Airlines (UAL.O), American Airlines (AAL.O), Delta Air Lines (DAL.N) and Southwest Airlines (LUV.N) - control 80% of the domestic market. JetBlue and Spirit combined control about 8%, according to their lawyers. Duffy said allowing JetBlue's, the sixth-largest U.S. airline, and Spirit, the seventh-largest, to merge would result in higher prices and fewer flights once lower-cost Spirit was no longer competing. Reporting by Nate Raymond in Boston; Editing by Will DUnhma, Mark Porter and Alexia GaramfalviOur Standards: The Thomson Reuters Trust Principles.

Persons: Department's, William Young, Young, Edward Duffy, Duffy, Ryan Shores, Joe Biden's, Shores, JetBlue's, Nate Raymond, Will DUnhma, Mark Porter, Alexia Garamfalvi Organizations: BOSTON, ., JetBlue Airways, Spirit Airlines, JetBlue, Justice Department, District of Columbia, Justice, U.S, United Airlines, American Airlines, Delta Air Lines, Southwest Airlines, Spirit, U.S ., Thomson Locations: U.S, Boston, New York City, Newark , New Jersey, Fort Lauderdale , Florida

The Chile-based company, which leapfrogged U.S. majors American Airlines (AAL.O) and United Airlines (UAL.O), transported more than 260,000 passengers between the countries in the period. Average load factor in those flights, LATAM told Reuters, reached 89%. The results, according to ANAC, secured LATAM a 26% market share for flights between the two most populous countries in the Americas in the August-October period, above American Airlines' 22% and United Airlines' 20%. Year to date, American Airlines still leads the ranking with a 23.7% market share, slightly above LATAM's 22.4%, considering the number of passengers transported. In 2023 the U.S. carrier has so far ranked fifth in U.S.-Brazil traffic, also lagging behind Azul (AZUL.N).

Persons: Henry Romero, ANAC, LATAM, Aline Mafra, Gabriel Araujo, Steven Grattan, Marguerita Choy Organizations: Benito Juarez International, Federal Aviation Administration, FAA, REUTERS, SAO PAULO, LATAM Airlines, American Airlines, United Airlines, Reuters, Delta, Brasil, Sao Paulo, U.S ., Boston, U.S, Azul, Thomson Locations: U.S, Mexico City, Mexico, Brazil, Los Angeles, Chile, Argentina, Portugal, LATAM, Americas, Sao, Brazil's, U.S . West Coast, Miami, Orlando, New York, Rio de Janeiro, Atlanta

☆ Southwest, other US airlines face holiday travel test after 2022 blizzard
▼ + stars: | 2023-11-20 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +5 min

Southwest Airlines planes are show at San Diego International airport in San Diego, California, U.S., May 18, 2023. The chief operating officer of Southwest Airlines (LUV.N) found himself in the eye of a storm after a blizzard last December forced the company to cancel almost 17,000 flights, disrupting travel plans for about 2 million customers. With this week's U.S. Thanksgiving holiday kicking off the holiday travel season, Watterson can ill afford another fiasco. Airlines have taken measures to beef up winter operations including investments in weather forecast technology and de-icing equipment, and increased staffing and training. To make its winter operations more resilient, Watterson said Southwest invested in de-icing trucks and de-icing pads across its network.

Persons: Mike Blake, Andrew Watterson, Watterson, Constance von Muehlen, David Seymour, von Muehlen, Rajesh Kumar Singh, Doyinsola Oladipo, David Shepardson, Ben Klayman, Matthew Lewis Organizations: Southwest Airlines, San Diego International, REUTERS, Rights, Reuters, U.S . Transportation Department, Alaska Airlines, University of Washington, United Airlines, American Airlines, Federal Aviation Administration, FAA, U.S, Thomson Locations: San Diego , California, U.S, Dallas, Denver, Chicago, Southwest, Seattle, Alaska, Newark , New Jersey, Congress, New York, Washington

☆ Senate panel investigates US airline baggage, seat selection fees
▼ + stars: | 2023-11-20 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

Between 2018 and 2022, total revenue across major U.S. airlines from baggage fees increased from $4.9 billion to $6.8 billion, the senator said. Blumenthal also cited a report by a travel consultancy that found that eight leading U.S. airlines last year collected an estimated $4.2 billion in fees for seat selection. "U.S. airlines increasingly charge ancillary fees that obscure the actual cost of air travel," Blumenthal said in the letters. Airline CEOs in 2018 lobbied against bipartisan legislation to mandate "reasonable and proportional" baggage and change fees and convinced Congress to drop the plan. The U.S. Transportation Department last year proposed requiring airlines to disclose fees for baggage, ticket changes and family seating the first time an airfare is displayed.

Persons: Shelby Tauber, Richard Blumenthal, Blumenthal, David Shepardson, Will Dunham, Chris Reese Organizations: Dallas Love Field Airport, REUTERS, Rights, U.S, Senate, Democratic, Investigations, American Airlines, United Airlines, Delta Air Lines, Spirit Airlines, Frontier Airlines, Airlines for America, U.S . Transportation, Aviation, Thomson Locations: Dallas , Texas, U.S, Delta

☆ Airlines predict record Thanksgiving US holiday travel
▼ + stars: | 2023-11-13 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Elijah Nouvelage Acquire Licensing RightsWASHINGTON, Nov 13 (Reuters) - Major U.S. airlines and the Transportation Security Administration (TSA) said Monday they expect record air travel over the Thanksgiving holiday air travel period. Airlines for America says Nov. 26 will be a record-setting air travel day with 3.2 million passengers. The record travel comes despite airline flight cuts to New York airports because of air traffic controller staffing. A government watchdog said in June critical ATC facilities face significant staffing challenges, posing risks to air traffic operations. In the summer of 2022, there were 41,498 flights from New York airports in which ATC staffing was a contributing factor in delays.

Persons: Elijah Nouvelage, David Shepardson, Alistair Bell Organizations: Hartsfield, Jackson Atlanta International Airport, REUTERS, Rights, Major U.S, Transportation Security Administration, Airlines for America, American Airlines, United Airlines, Delta Air Lines, TSA, Federal Aviation Administration, JetBlue Airways, JFK, New York, Thomson Locations: Atlanta , Georgia, U.S, Major, New York, New York City, Burlington , Vermont, New

☆ United Airlines will not resume flights to Israel
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: 1 min

A United Airlines passenger jet takes off with New York City as a backdrop, at Newark Liberty International Airport, New Jersey, U.S. December 6, 2019. REUTERS/Chris Helgren/File Photo Acquire Licensing RightsNov 13 (Reuters) - United Airlines (UAL.O) will not resume flights to Tel Aviv, Israel, from Newark, New Jersey, on Nov. 24, a company spokesperson said. A previous statement that flights were resuming was made in error by its public relations agency, the airline said. (This story has been officially corrected to say that United Airlines is not resuming service to Israel)Reporting by Steve Scheer and Shivansh Tiwary; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Helgren, Steve Scheer, Shivansh, Anil D'Silva Organizations: United Airlines, Newark Liberty International Airport, REUTERS, Airlines, Thomson Locations: New York City, New Jersey, U.S, Tel Aviv, Israel, Newark , New Jersey

A rebound in Asia is especially important for airlines where long-haul travel makes up a bigger mix of revenue. Travel spending in Asia Pacific is set to grow 41% this year to $567 billion, and rise to $800 billion by 2027, according to data from the Global Business Travel Association. The planned capacity, which has not been previously reported, is a strong rebound from 2022, when the carrier's Asia-Pacific traffic was 33% of 2019 levels. Travel to Asia is also a source of high-margin revenue at a time when soaring labor and fuel costs are pressuring profit and domestic fares are declining. Across the border, Air Canada said the increase in Asia Pacific capacity would more than double its overall system growth.

Persons: Toby Melville, Andrew Nocella, Mark Galardo, Galardo, Raymond James, Savanthi Syth, Allison Lampert, Rajesh Kumar Singh, Ben Klayman, Matthew Lewis Organizations: Heathrow Airport, REUTERS, Rights, Carriers, Business, Global Business Travel Association, Air, Reuters, United Airlines, American Airlines, Delta Air Lines, Asia Pacific, United, Delta, Tourism Economics, Thomson Locations: London, Britain, Rights MONTREAL, CHICAGO, Asia, Pacific, Europe, Asia Pacific, U.S, United States, Atlanta, Manila, Philippines, San Francisco, New Zealand, Chicago, Air Canada, Air Canada's Vancouver, Canada, North America, Ukraine, Hong Kong, East Coast, Newark , New Jersey, Toronto, China, Montreal

☆ India to get electric air taxis in 2026 via InterGlobe, Archer venture
▼ + stars: | 2023-11-09 | by ( Chris Thomas | ) www.reuters.com time to read: +2 min

[1/4] Midnight, an all-electric aircraft from company Archer Aviation, is seen at the Salinas Municipal Airport in Salinas, California, U.S. August 2, 2023. REUTERS/Carlos Barria/File Photo Acquire Licensing RightsBENGALURU, Nov 9 (Reuters) - InterGlobe Enterprises, which backs India's top airline IndiGo, and U.S.-based Archer Aviation (ACHR.N) will launch an all-electric air taxi service in India in 2026 that will be "cost-competitive" with on-road services, the companies said Thursday. The companies said that a trip that typically takes 60 to 90 minutes by car in Delhi, for example, will take about 7 minutes in an air taxi. InterGlobe Enterprises, which owns nearly 38% of IndiGo-parent InterGlobe Aviation (INGL.NS) as well as hospitality and logistics businesses, also plans to use the e-aircraft for cargo, logistics, medical, emergency and charter services. Archer secured a $142 million-deal from the U.S. Air Force in July to provide six Midnight aircraft and said in October it would launch an air taxi service in the UAE.

Persons: Carlos Barria, Archer, Archer Aviation's, InterGlobe Aviation's, Chris Thomas, Savio D'Souza Organizations: Archer Aviation, Salinas Municipal Airport, REUTERS, Rights, InterGlobe Enterprises, IndiGo, Chrysler, Boeing, United Airlines, InterGlobe Aviation, U.S . Air Force, Midnight, Thomson Locations: Salinas, Salinas , California, U.S, India, Delhi, Mumbai, Bengaluru, UAE

[1/2] Airplane model is placed on displayed Spirit Airlines and jetBlue Airways logos in this illustration taken, June 21, 2022. JetBlue CEO Robin Hayes defended the deal being challenged by the U.S. Department of Justice in federal court in Boston, saying a merger was the only way to grow JetBlue into a long-term national challenger to the dominant airlines. "You'd never ever get to the size they are based on organic growth," he testified under questioning by JetBlue lawyer Ryan Shores. The Justice Department counters that passengers would suffer roughly $1 billion in net harm annually if JetBlue absorbs Spirit, causing fares to rise. The trial is a rarity for the Justice Department, which historically has approved airline mergers without trials conditioned on asset divestitures.

Persons: Dado Ruvic, Robin Hayes, Hayes, You'd, Ryan Shores, Edward Duffy, JetBlue, District William Young, Nate Raymond, Alexia Garamfalvi Organizations: Airlines, jetBlue Airways, REUTERS, Rights BOSTON, JetBlue Airways, Spirit Airlines, U.S, JetBlue, U.S . Department of Justice, The Justice Department, Democratic, District of Columbia, United Airlines, American Airlines, Delta Air Lines, Southwest Airlines, Department, District, Justice Department, Thomson Locations: Boston, New York City, Newark , New Jersey, Fort Lauderdale . U.S

U.S. officials visiting South Africa this week to meet African trade ministers will face calls to reauthorise the African Growth and Opportunity Act (AGOA) which expires in 2025. Apparel companies and industry insiders warn that Africa risks a once-in-a-generation shift away from Chinese manufacturing passing it by, with an estimated 240,000 to 290,000 jobs such as Nasimiyu's under threat. Apparel has been the standout success story of AGOA, which launched in 2000 to help develop African economies and foster democracy. African apparel exports under the programme reached nearly $1.4 billion last year, double the amount pre-AGOA. "We've been struck by how open the opportunity is now for us," South African Trade Minister Ebrahim Patel said last week.

Persons: Norah Nasimiyu, Thomas Mukoya, Pankaj Bedi, Norah Nasimiyu's, We've, Ebrahim Patel, Stephen Lamar, Michael Walsh, Constance Hamilton, Biden, Greg Poole, Bedi, Joe Bavier, Duncan Miriri, Alexander Smith Organizations: United Aryan, Processing, The U.S, REUTERS, U.S . Congress, AFRICA Industry, African Trade, United States Fashion Industry Association, American Apparel and Footwear Association, Congress, Research, U.S . International Trade Commission, GSP, UAL, Thomson Locations: Ruaraka district, Nairobi, Kenya, China, NAIROBI, U.S, South Africa, Africa, Philadelphia, Moscow, Beijing, Russia, Lesotho, Madagascar, Ethiopia, AGOA, gridlock, United States, Johannesburg

☆ The Israel-Hamas war is affecting the financial outlooks of these large companies
▼ + stars: | 2023-10-28 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Aris Messinis | AFP | Getty ImagesSome of the world's most well-known companies are already seeing the Israel-Hamas war weighing on operations. On Oct. 7, militant group Hamas struck Israeli towns in a surprise attack and took more than 200 hostages. Corporations that do business or have operations in the region have already begun seeing the war change their financial outlooks as the unrest weighs on everything from advertising dollars to tourism to supply chains. Technology companies were among those seeing the conflict affect the workforce, advertising spending and supply chains. Snap said in its latest earnings release that it saw pauses in spending from a "large number of primarily brand-oriented advertising campaigns" immediately after the war began.

Persons: Aris Messinis, Scott Kirby, El Al, Jason Liberty, Liberty, we're, Susan Li, Li, We've, John Morici Organizations: Hamas, AFP, Getty, Israeli Defense Forces, Corporations, United Airlines, Delta Air Lines, American Airlines, Boeing, Royal, Israel, El Al Airlines, Nurphoto, U.S . Department of State, Technology, Facebook, West Pharmaceutical Locations: Haifa, Cyprus, Israel, Palestinian, Gaza, Tel Aviv, Royal Caribbean, Ukraine

☆ United wanted young, blue-eyed, blonde women to staff LA Dodgers flights, lawsuit says
▼ + stars: | 2023-10-27 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

United Airlines planes are parked at their gates at O'Hare International Airport in Chicago, Illinois, U.S., November 20, 2021. Both said they have worked for United for more than 15 years, and are seeking unspecified damages for alleged discrimination and harassment. In a statement, United said: "United fosters an environment of inclusion and does not tolerate discrimination of any kind. The Los Angeles Times reported the lawsuit earlier on Friday. The case is Quezada et al v United Airlines Inc et al, California Superior Court, Los Angeles County, No.

Persons: Brendan McDermid, Dawn Todd, Darby Quezada, Todd, United, Quezada, Jonathan Stempel, Daniel Wallis Organizations: Airlines, International, REUTERS, United Airlines, Los Angeles Dodgers, Los Angeles, Superior Court, Dodgers, United, Los Angeles Times, United Airlines Inc, Court, Thomson Locations: Chicago , Illinois, U.S, California, Los Angeles County, New York

☆ Wall St drops as Treasury yields surge, Powell speaks
▼ + stars: | 2023-10-19 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +4 min

Treasury yields rose further and the benchmark 10-year note yield was at a 16-year high of almost 5%. The rate-sensitive real estate sector (.SPLRCR) dropped 2.4% and was the day's worst-performing S&P 500 sector. [1/2]Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. The labor market is showing strength even though the central bank has raised its benchmark overnight interest rate by 525 basis points since March 2022. The S&P 500 posted 2 new 52-week highs and 37 new lows; the Nasdaq Composite recorded 15 new highs and 370 new lows.

Persons: Tesla, Jerome Powell, Elon Musk, Oliver Pursche, Jay Powell, Powell, Brendan McDermid, Caroline Valetkevitch, Shubham Batra, Shashwat Chauhan, Dhanya Ann Thoppil, Saumyadeb Chakrabarty, Vinay Dwivedi, David Gregorio Our Organizations: Netflix, Dow, Nasdaq, Treasury, Wealthspire Advisors, Economic, Dow Jones, New York Stock Exchange, REUTERS, Data, U.S . Labor Department, Netflix Inc, American Airlines, United Airlines, NYSE, Thomson Locations: Westport , Connecticut, New York, U.S, New York City, United States, Britain, France, Bengaluru

☆ Wall St falls more than 1%; yields rise, investors assess earnings
▼ + stars: | 2023-10-18 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. The S&P 500 passenger airlines index (.SPLRCALI) dropped 5.6%. Shares ended the day down 6.8%. Tesla ended the regular session down 4.8% and Netflix ended the session down 2.7%. The S&P 500 posted 12 new 52-week highs and 25 new lows; the Nasdaq Composite recorded 25 new highs and 252 new lows.

Persons: Brendan McDermid, Netlix, homebuilding, Rick Meckler, Joe Biden, Morgan Stanley's, Tesla, Ankika Biswas, Shashwat Chauhan, Sruthi Shankar, Arun Koyyur, Vinay Dwivedi, Nick Zieminski, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Airlines, Dow, Nasdaq, Federal Reserve, Cherry Lane Investments, Procter, Gamble, United Airlines Holdings, Dow Jones, U.S, Tesla, Netflix, NYSE, Thomson Locations: New York City, U.S, New Vernon , New Jersey, Israel, Gaza, Bengaluru

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