Sectors News Results

  • Why hedge-fund manager Bill Ackman says he dumped Berkshire Hathaway but held on to these winners

    Critical information for the U.S. trading day. We've got a meaty call of the day from Pershing Square Capital Management hedge-fund manager Bill Ackman, who told investors on a call on Wednesday that he is dumping shares in Warren Buffett's Berkshire Hathaway. While Buffett is always the main attraction in a room, Ackman said they "still like what we own," and offers up plenty of ideas for investors who have "differentiated between companies that are survivors that in some cases will...

  • Boeing to lay off nearly 7,000 workers, resumes 737 Max production

    Shares of Boeing Co. (BA) jumped more than 5% in the extended session Wednesday after the jet maker announced the layoffs of 6,770 U.S. workers, with the first employees affected being notified this week. International locations also are planning layoffs that will be announced on their own timelines, Boeing (BA) said. "The COVID-19 pandemic's devastating impact on the airline industry means a deep cut in the number of commercial jets and services our customers will need over the next few...

  • A Message from United CEO Scott Kirby

    CHICAGO, May 27, 2020  J. Scott Kirby, Chief Executive Officer, today issued the following message to nearly 100,000 United Airlines employees: Hello everybody. In my message to you last week, I talked about doing everything in my power as CEO to make sure we are in a position to bounce back more quickly than any of our competitors once the virus is defeated and demand begins to recover.

  • Airline ETF soars as travel recovery looks imminent

    The only pure-play airline exchange-traded fund soared Tuesday as investors grew increasingly confident that air travel would be able to resume soon. The US Global Jets ETF was up more than 11% midday, following a 16% gain in shares of United Airlines Holdings, a 15% increase for American Airlines Group, and more. Retail investors have piled into JETS over the past few months: over 25,000 Robinhood accounts now hold the ETF, compared to about 300 before the pandemic hit.

  • Exclusive: Cathay Pacific's brand merger hits roadblock from China's aviation regulator

    China's aviation regulator may make it difficult for Hong Kong's Cathay Pacific Airways Ltd (CPCAF) to merge regional arm Cathay Dragon into its main brand because of infractions during last year's pro-democracy protests, two sources said.

  • Exclusive: Cathay Pacific's brand merger hits roadblock from China's aviation regulator

    China's aviation regulator may make it difficult for Hong Kong's Cathay Pacific Airways Ltd (CPCAF) to merge regional arm Cathay Dragon into its main brand because of infractions during last year's pro-democracy protests, two sources said.

  • Ryanair Fiscal Year 2020 Net Profit Fell; Expects 1st Half Losses

    By Anthony O. Goriainoff and Adria Calatayud. Ryanair Holdings PLC (RYAOF) said Monday that net profit for fiscal 2020 fell 27% amid the coronavirus pandemic and higher costs, and projected losses for the first two quarters of the current year. Europe's biggest airline by passenger numbers said net profit for the year ended March 31 was 648.7 million euros compared with EUR885 million for fiscal 2019. This included an exceptional charge of EUR353 million on its fuel hedges for fiscal...

  • Airline industry not likely to recover for at least a year: Southwest CEO

    - The airline industry is not likely to recover to pre-coronavirus levels for at least the next six to 12 months, Southwest Airlines Co Chief Executive Officer Gary Kelly said on Thursday. The COVID-19 pandemic has brought a virtual halt in air travel, leading to an unprecedented number of flight cancellations globally and forcing airlines to book hefty losses.

  • Airline industry not likely to recover for at least a year -Southwest CEO

    The airline industry is not likely to recover to pre-coronavirus levels for at least the next six to 12 months, Southwest Airlines Co Chief Executive Officer Gary Kelly said on Thursday. The COVID-19 pandemic has brought a virtual halt in air travel, leading to an unprecedented number of flight cancellations globally and forcing airlines to book hefty losses.

  • GE's stock craters to 3-decade low as airline industry outlook darkens

    Worries about an airline bankruptcy grow after negative calls from Boeing CEO and Warren Buffett, boding badly for GE Aviation. Shares of General Electric Corp. fell in very active trading to a 29- year low on Wednesday, as sentiment toward the airline industry continued to sour with the impact on travel from COVID-19 pandemic expected to linger for years to come. GE's fate is tied to the airline industry, as it is among the largest makers of jet engines and components.

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