Southwest Airlines reported a 46% fall in profit, forecasting a potential drop in unit revenue for the third quarter due to an oversupplied U.S. market. The airline expects unit revenue to fall 2% and non-fuel costs to rise 13% in the current quarter. Southwest's adjusted earnings per share came in at 58 cents, beating Wall Street expectations of 51 cents.
BusinessSouthwest | Rating: 46 | 2024-07-25 10:50:07 AM |
Southwest Airlines is ending open seating and will offer extra legroom seats on its airplanes starting in 2025. The airline will also introduce overnight flights. Elliott Investment Management, an activist investor, has a nearly $2 billion stake in the airline and is calling for new leadership.
TravelSouthwest | Rating: 53 | 2024-07-25 10:19:29 AM |
Unilever, a consumer goods giant, raised its full-year margin guidance and announced the spinoff of its ice cream business, which generates around $8.5 billion in annual sales, is on track to complete by the end of 2025. The company recorded sales growth across all segments, with beauty and well-being expanding 7.1%, while ice cream lagged with 0.6% growth. Unilever's shares popped 6.8% after the announcement.
BusinessUnilever | Rating: 53 | 2024-07-25 08:29:32 AM |
Kering, the owner of Gucci, saw its shares drop 6.47% after announcing an 11% decline in revenue in the first half of 2024 compared to the same period last year. The decline was attributed to a slowing market in most regions except Japan, with a marked deceleration in China. The company's revenue fell against the backdrop of a weak forecast for the remaining six months of the year.
BusinessKering | Rating: 46 | 2024-07-25 07:49:29 AM |
Stellantis, an auto giant that owns brands like Jeep, Dodge, Fiat, Chrysler, and Peugeot, reported a 48% drop in first-quarter sales, citing reduced volumes, temporary production gaps, and lower market share in North America. The company's first-half net profit was 5.6 billion euros, down from the same period in 2023. Adjusted operating income for the first six months of 2024 was 8.5 billion euros, a 5.7 billion euro decrease from the previous year.
BusinessStellantis | Rating: 46 | 2024-07-25 06:39:40 AM |
Health authorities in Kerala, India, are on high alert after a 14-year-old boy died from the Nipah virus. The disease is believed to be spread by fruit bats, and 60 people have been identified as being in contact with the teenager. The Kerala Health Minister, Veena George, has advised people to continue wearing face masks in public areas.
HealthIndia | Rating: 48 | 2024-07-25 05:49:29 AM |
President Joe Biden announced his decision to drop out of the presidential election and endorse Vice President Kamala Harris as the Democratic Party's nominee. He stated that the defense of democracy is more important than any title and that he draws strength and joy from working for the American people. Biden, 81, quit the race three days ago.
PoliticsBiden | Rating: 60 | 2024-07-25 12:49:36 AM |
President Joe Biden will deliver a speech from the Oval Office to explain his decision to drop out of the presidential race against former President Donald Trump. The speech is scheduled to start at 8 p.m. ET. Biden returned to Washington on Tuesday after quarantining at his Delaware beach house with Covid-19. He will endorse Vice President Kamala Harris to replace him.
PoliticsBiden | Rating: 48 | 2024-07-25 12:09:45 AM |
Ford Motor reported a disappointing second quarter, missing earnings expectations by a wide margin due to higher warranty costs. The company's automotive revenue increased 6% year over year to $47.8 billion, beating analysts' forecasts. However, adjusted earnings per share fell 35% to 47 cents, and adjusted earnings before interest and taxes declined 27% to $2.76 billion, missing expectations.
BusinessFord | Rating: 46 | 2024-07-24 11:39:33 PM |
Jay Chaudhry, the 65-year-old CEO of Zscaler, sold his first company SecureIT to VeriSign in 1998 for $70 million. As a result, over 70 of SecureIT's 80 employees became millionaires, with some even going 'crazy' due to the unexpected windfall. The deal was an all-stock transaction, and nearly two years after the deal closed, VeriSign's stock price soared, making the employees' fortunes grow even more.
BusinessZscaler | Rating: 53 | 2024-07-24 11:29:49 PM |