Passengers check in at the Spirit Airlines counter at the Fort Lauderdale-Hollywood International Airport on February 07, 2022 in Fort Lauderdale, Florida. Joe Raedle | Getty Images Spirit Airlines, an icon of budget air travel that reshaped the industry, has filed for bankruptcy protection after years of mounting losses, a failed merger, increased competition and more demanding consumer tastes….
Tesla shares soared 22% to close at $260.48 on Thursday, the stock’s best day since 2013, following the company’s better-than-expected earnings report. The company late Wednesday reported revenue of $25.18 billion, which came in just under analysts’ expectations of $25.37 billion, but was up 8% compared with a year earlier. Tesla reported earnings per share of 72 cents adjusted,…
Boeing workers from the International Association of Machinists and Aerospace Workers District 751 attend a rally at their union hall during an ongoing strike in Seattle, Washington, U.S. October 15, 2024. David Ryder | Reuters Boeing machinists voted against a new labor deal that included 35% wage increases over four years, their union said Wednesday, extending a more than…
The U.S. 10-year Treasury yield rose again Wednesday as traders digested the latest comments from Federal Reserve officials on the trajectory of interest rate cuts. The yield on the 10-year Treasury rose more than three basis points to about 4.24. At its session high, the benchmark rate traded at 4.26%, reaching its highest level since July 26. That move comes…
The S & P 500 will serve up a minuscule return over the next decade that falls far short of the booming gains from the last decade, forecasts Goldman Sachs’ equity strategy team, citing today’s high concentration in just a few stocks and a lofty starting valuation. The broad market index will produce an annualized nominal total return of…
Procter & Gamble on Friday reported weaker-than-expected revenue as lower demand in China again weighed on its sales. The company’s organic sales in Greater China, its second-largest market, fell 15% in the fiscal first quarter. As home prices drop and jobless rates rise in the country, shoppers have pulled back their spending, hurting P&G’s sales for shampoo, diapers and…
Netflix co-founder Reed Hastings attends a red carpet for the Netflix launch at Palazzo Del Ghiaccio on October 22, 2015 in Milan, Italy. Jacopo Raule | Getty Images Netflix shares closed up 11% on Friday after the media streaming giant reported third-quarter earnings and revenue that beat expectations. The company on Thursday reported earnings per share of $5.40 for…
Consumer spending held up in September, underscoring a resilient economy that is now getting a boost from the Federal Reserve, the Commerce Department reported Thursday. Retail sales increased a seasonally adjusted 0.4% on the month, up from the unrevised 0.1% gain in August and better than the 0.3% Dow Jones forecast, according to the advance report. Excluding autos, sales…
A United Airlines Boeing 737-MAX 8 aircraft departs at San Diego International Airport en route to New York on Aug. 24, 2024. Kevin Carter | Getty Images United Airlines said Tuesday that it is starting a $1.5 billion share buyback as the carrier reported higher-than-expected earnings for the busy summer travel season and forecast higher airfares into 2025. United…
U.S. crude futures fell more than 4% on Tuesday, after Israel reportedly told the U.S. that it is not planning to strike Iran’s oil facilities, relieving fears that a major supply disruption in the Middle East is on the horizon. Israel plans to limit its retaliatory strikes in Iran to military targets and does not plan to hit the…
