Sabre announced a restructuring of its airline and agency-focused businesses on Thursday in a move that includes about 800 layoffs. The move follows the approximately 400 workers that the travel technology company laid off in April. Recent stay-at-home orders have gutted the travel industry, which drives revenue for the Southlake, Texas-based company. “While we had […] …read more […]
Southwest Airlines Co. (LUV) said it has priced its public offering of $1.8 billion of debt in two tranches.The U.S. carrier will offer to sell $500 million aggregate principal amount of 4.750% notes due 2023 and $1.3 billion aggregate principal amount of 5.125% notes due 2027. The 2027 notes will be issued at par value.Southwest Airlines said it expects to use the net proceeds from the offering to repay all of its outstanding debt under its 364-day credit agreement and for general corporate purposes. Upon repayment, it will terminate the credit agreement. The offering is expected to close by June …read more […]
(Bloomberg) — Apple Inc. Chief Executive Officer Tim Cook wrote an open letter on racism, highlighting that his company must do more.The full text of the letter was posted to the iPhone maker’s website.“To create change, we have to reexamine our own views and actions in light of a pain that is deeply felt but too often ignored,” Cook said. “Issues of human dignity will not abide standing on the sidelines. To the Black community — we see you. You matter and your lives matter.”Cook said Apple would “commit to continuing our work to bring critical resources and technology to …read more […]
Whilst it may not be a huge deal, we thought it was good to see that the Northern Oil and Gas, Inc. (NYSEMKT:NOG… …read more […]
China’s electric vehicle maker Nio Inc (NIO) has revealed that it delivered 3,436 vehicles in May 2020, representing a strong 215.5% growth year over year. Shares are now rising 3% in Thursday’s pre-market trading.The deliveries consisted of 2,685 ES6s, the company’s 5-seater high-performance premium smart electric SUV, and 751 ES8s, the company’s 7-seater high-performance premium smart electric SUV and its 6-seater variant.As of May 31, 2020, cumulative deliveries of the ES8 and the ES6 reached 42,342 vehicles, of which 10,429 were delivered in 2020, NIO said.“In May, we achieved record-high monthly deliveries in our history” cheered William Bin Li, founder …read more […]
It’s been a good week for Auxly Cannabis Group Inc. (CVE:XLY) shareholders, because the company has just released its… …read more […]
We picked up our pen and scratched our head this morning.
We struggled with what to write you about. It’s not that we don’t have any thoughts. It’s just the opposite.
First, we wanted to write a piece begging folks to put some money into the stock market. We’ve never seen Mr. Market so eager to make folks rich.
But we’ve already mused about that idea… here, here and here.
(We even gave away one of our top picks here.)
We’re wary that if you haven’t already taken the advice, you may not want to hear it again.
And then we thought we’d join the national …read more […]
Top news and what to watch in the markets on Thursday, June 4, 2020. …read more […]
Inovio Pharmaceuticals (INO) has now initiated legal proceedings as an emergency action to compel the technology transfer required for the planned large-scale manufacture of its COVID-19 vaccine candidate.The company has an ambitious goal of producing one million doses of INO-4800 by the end of 2020, with its existing capacity and contract resources, for further clinical trials or emergency use.To fulfil this goal, INO has filed a complaint in Pennsylvania to compel VGXI, Inc. and GeneOne Life Science to facilitate the transfer of manufacturing methods, using VGXI’s technology, to the company’s new engaged contract manufacturers.“The Company believes that widespread availability of …read more […]
LVMH, the luxury goods giant, rules out buying the jeweller’s shares to get it on the cheap. …read more […]
British luxury carmaker Aston Martin plans to shed up to 500 jobs as it seeks to bring its cost base into line with reduced sports car production levels, it said on Thursday. The job cuts come a week after Aston Martin confirmed that Tobias Moers, CEO of Mercedes-AMG, would become chief executive on August 1, replacing Andy Palmer. Aston Martin, famed for being fictional secret agent James Bond’s car of choice, has seen its share price plummet since floating in October 2018. …read more […]
Billionaire investor Dan Loeb’s Third Point LLC fund has Boeing Co (BA) listed among its top winners in May sending shares in the ailing planemaker up 13% on Wednesday.The stock help up its gains on Wednesday even after Loeb told CNBC that he bought Boeing debt and not stock, reversing earlier market rumors that the fund entered into an equity position. The planemaker is joined by the likes of Walt Disney (DIS) and Burlington Stores Inc. on the investor’s list of top winners in May. The hedge fund returned 1.6% on its investments in May after 7.1% a month earlier.In …read more […]
Shares in Elastic NV (ESTC) fell 7% in after-hours trading on Wednesday after the company reported strong fiscal fourth quarter results, but disappointed with weak guidance.Specifically, Q4 Non-GAAP EPS of -$0.12 beat consensus estimates by $0.19 while GAAP EPS of -$0.38 came in $0.15 above expectations. Revenue of $123.62M surged 53.4% year-over-year thanks to better execution and broad product traction, and beat Street estimates by $6.47M.However, FY21 guidance was below consensus taking into account expected (not yet witnessed) macro headwinds. Total revenue is expected to be between $530 million and $540 million (vs consensus of $561.3M), with non-GAAP operating margin …read more […]
Oil prices dropped on Thursday, reversing gains in the previous session, on concern over whether major crude producers will be able to agree to extend record output cuts, heightened by worries over a huge build in U.S. distillate inventories. Brent crude futures fell 1.18%, or 47 cents, to $39.32 a barrel as of 0652 GMT, while U.S. West Texas Intermediate (WTI) crude futures slid 1.80%, or 67 cents, to $36.62 a barrel. Saudi Arabia and Russia, two of the world’s biggest oil producers, have agreed to support extending into July the 9.7 million barrels per day (bpd) in …read more […]
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