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Business

“Delta posts nearly $1.2 billion quarterly loss, expects to break even in June as bookings improve”

“Delta and its competitors continue to lose money but have grown upbeat about an improvement in bookings as more travelers are vaccinated, travel restrictions lift and more attractions reopen. The airline said domestic leisure bookings recovered to about 85% of 2019 levels, though… Continue Reading…

Stocks

“Stitch Fix shares rise nearly 50% in early trading after yesterday’s earnings beat”

“Shares of the company’s stock were up $16.86, or 47.05%, in early trading on the Nasdaq stock exchange. For the company’s fiscal first quarter, which ends Oct. 31, Stitch Fix reported earnings of 9 cents a share. The company booked $490.4 million… Continue Reading…

Stocks

“Nio’s stock jumps toward a record after J.P. Morgan nearly triples its price target”

“Shares of Nio Inc. shot up 9.8% toward a record high in premarket trading Wednesday, after a bullish call on the China-based electric vehicle maker from J.P. Morgan. The stock was on track to open above the Oct. 12 record… Continue Reading…

Business

“ESPN’s week 1 Monday Night Football ratings fall nearly 11%”

“… the New York Giants hosting the Pittsburgh Steelers attracted an average of 10.7 million viewers on Monday’ night the network announced, down 10.8% from last year’s first Monday night game. …The game peaked at 13.1 million viewers around 9:00 p.m.… Continue Reading…

Economy

“Payrolls increase by nearly 1.4 million as the unemployment rate tumbles”

“Nonfarm payrolls increased by 1.37 million in August and the unemployment rate tumbled to 8.4%… An alternative measure that includes discouraged workers and those holding part-time jobs for economic reasons also fell, down to 14.2% from 16.5% in July and… Continue Reading…

Business

“United Airlines Reports ‘Most Difficult’ Quarter in Nearly 100 Years”

“Typically, when a public company reports earnings, it highlights a positive in its release, no matter how much money it lost in the previous three months. But on Tuesday, United Airlines did not spin, telling investors it recently completed “the… Continue Reading…

Economy

“Nearly 39 million have lost jobs in US since virus took hold”

“The number of Americans applying for unemployment benefits in the two months since the coronavirus took hold in the U.S. has swelled to nearly 39 million, the government reported Thursday, even as states from coast to coast gradually reopen their… Continue Reading…

Economy

“The US economy has erased nearly all the job gains since the Great Recession”

“It took only four weeks for the U.S. economy to wipe out nearly all the job gains in the last 11 years. The coronavirus and the forced closure of business throughout the country again fueled the number of Americans applying… Continue Reading…

Banking

“JPMorgan Profit Sinks Nearly 70% As It Braces For Loan Defaults”

“JPMorgan Chase & Co.’s first-quarter profit tumbled 69% and the bank set aside an additional $6.8 billion to cover potential losses on loans to consumers and businesses struggling to stay afloat during the coronavirus shutdown…” https://www.wsj.com/articles/jpmorgan-chase-reports-profit-falls-69-amid-u-s-coronavirus-outbreak-11586862723

Economy, Stocks

“Dow drops nearly 3,000 points… worst day since ’87”

“The Dow Jones Industrial Average closed 2,997.10 points lower, or 12.9%, at 20,188.52. The 30-stock Dow was briefly down more than 3,000 points in the final minutes of trading. The S&P 500 dropped 12% to 2,386.13 — hitting its lowest level since December 2018… Continue Reading…