American Airlines will fly less than 50% of its normal schedule in the fourth quarter. International flights will be reduced to only 25% of last-year levels.
The tech sector continues to take the markets ahead as indices hit new highs. The U.S. and China have resumed the phase one of the trade talks as the two giant economies plan to come to common grounds with their trade settlements.
Salesforce’s revenue for Q2 2020 jumped 29% beating Street expectations by a good margin. The company has set a new revenue target for fiscal 2021 as it prepares to make an entry at the Dow Jones replacing Exxon Mobil.
CICC, Citigroup, JPMorgan, and Morgan Stanley will be advisers on the Hong Kong Ant Group’s listing plan, while CICC and CSC Financial will underwrite the Shanghai leg of the IPO.
The shares of Salesforce.com, Amgen and Honeywell will replace those of Exxon Mobil, Pfizer and Raytheon Technologies respectively in Dow Jones 30 stock listed. The implementation will become effective before the start of trading on August 31.
Paul Ryan will become the chairman of ENPC’s board after its IPO. The company is going to raise $300 million at the offering.
Travel stocks such as shares of airlines, cruise operators, and hotels rose following an FDA announcement on coronavirus treatment and vaccines.
Though on Friday Best Buy (BBY) stock managed to hit a new milestone, today is 6% down.
Tesla stock is one of the most widely-discussed stocks this year with about 400% growth. With TSLA’s current pullback, the stock performance still amazes analysts.
Work management platform Asana has filed for a direct listing on the NYSE. Meanwhile, the company’s FY20 revenue was $142.6M, up to 86% Y/Y. The net loss was $118.6M, up from the prior year’s $50.9M.
Apple (APPL) shares kept rising and on August 24, the stock gained for the fifth straight trading session after Morgan Stanley analyst Katy Huberty expressed an increasingly bullish view on Apple’s prospects.
Apple shares took the lead to open the week ahead of other top tech stocks. Airlines and cruise stocks rose as well.
Berkshire Hathaway’s cashing up in an environment which in the past has seen it invest heavily counter-cyclically – some of Buffett’s biggest and most profitable plays have been during times of crisis – and its foray into a gold stock underscores his risk-aversion.
The rapid growth of TSLA shares has led to an increase in the Tesla value that currently makes up $382.04 billion. Now both analysts and investors believe the best days for Tesla are still ahead.
AstraZeneca (AZN) stock up rose by about 4% after the news that President Trump is reportedly ready to give the AZN-Oxford developed AZD1222 vaccine an Emergency Use Authorization Status.