American Airlines beats fourth-quarter profit expectations as higher fares buoy revenue

Employees of American Airlines help check in passengers at Ronald Reagan Washington National Airport on January 11, 2023 in Arlington, Virginia. Alex Wong | Getty Images American Airlines‘ fourth-quarter profit beat analysts’ expectations as strong travel demand and high fares buoyed results during a turbulent holiday season. Shares of American were up 4% in premarket trading on Thursday. Here’s how American Airlines performed in the fourth quarter compared with what Wall Street anticipated, based on an average of analysts’ estimates compiled by Refinitiv: Adjusted earnings per share: $1.17 versus an expected $1.14…

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Jim Cramer picks his standout stocks in 4 bull market industries

CNBC’s Jim Cramer on Wednesday offered investors a list of bull markets he’s identified as companies report quarterly financial results. “Now that we are already one-fifth of the way through earnings season, we can start identifying the winners and losers,” he said, adding, “We have some legitimate, sizable bull markets going on here, and they show no signs of letting up. And I want you in them.” Cramer also highlighted the companies that reported solid quarters and have stocks that could be buys.  Here are the four industries with bull…

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Southwest CEO maps out a recovery after holiday meltdown: ‘We have work to do’

A Southwest Airlines traveler looks for her baggage in a pile of lost suitcases after an arctic blast and a massive winter storm dubbed Elliott swept over much of the United States in the lead-up to the Christmas holiday weekend, at Chicago Midway International Airport in Chicago, Illinois, December 27, 2022. Kamil Krzaczynski | Reuters Southwest CEO Bob Jordan’s message, after a holiday meltdown derailed the travel plans of millions, is clear: “I can’t say it enough. We messed up.” His focus now is ensuring a similar crisis never happens…

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Inflation is cooling, but prices on many items are going to stay high for months

A grocery store in New York. Wang Ying | Xinhua News Agency | Getty Images Inflation may be cooling. But, for most Americans, the price of a cup of coffee or a bag of groceries hasn’t budged. In the months ahead, the big question is whether consumers will start to feel relief, too. related investing news Over the past few months, many of the key factors that fueled a four-decade high in inflation have begun to fade. Shipping costs have dropped. Cotton, beef and other commodities have gotten cheaper. And…

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FAA says contractor unintentionally deleted files before outage disrupted thousands of flights

An American Airlines Airbus A319 airplane takes off past the air traffic control tower at Ronald Reagan Washington National Airport in Arlington, Virginia, January 11, 2023 Saul Loeb | AFP | Getty Images The Federal Aviation Administration said Thursday that a contractor unintentionally deleted files before an outage of a pilot-alert system that delayed thousands of flights last week. “A preliminary FAA review of last week’s outage of the Notice to Air Missions (NOTAM) system determined that contract personnel unintentionally deleted files while working to correct synchronization between the live…

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Southwest pilots’ union calls vote to authorize potential strike as contract talks sour

A Southwest Airlines passenger jet lands at Chicago Midway International Airport in Chicago, Illinois, on December 28, 2022. Kamil Krzaczynski | AFP | Getty Images Southwest Airlines pilots’ union plans to hold a vote that could give it the power to call a potential strike, a move that comes weeks after the carrier’s holiday meltdown further strained ties with its workers’ unions. Even if Southwest’s pilots vote in favor of giving the union authority to call a strike, it wouldn’t be immediate and it would require permissions from the federal…

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Jim Cramer picks his favorite travel, restaurant, live entertainment and gym stocks

CNBC’s Jim Cramer on Tuesday gave investors a list of stocks he believes fit Americans’ spending habits after navigating the Covid pandemic for the last three years. “The biggest theme is the rise of this ‘life is too short’ mentality. People don’t want to waste their time anymore,” he said. More specifically, investors should eye travel, restaurant, live entertainment and gym stocks, according to Cramer. Here are his picks: Travel Delta Air Lines, American Airlines and United Airlines “Just be careful and stick to the ones with good execution, meaning…

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United results top estimates as demand remains resilient despite high fares

A grounds crew member directs an United Airlines airplane to a gate at Terminal A at Newark Liberty International Airport (EWR) in Newark, New Jersey, US, on Thursday, Jan. 12, 2023. Aristide Economopoulos | Bloomberg | Getty Images United Airlines‘ fourth-quarter profit topped Wall Street estimates thanks to strong demand and high fares. Consumers’ appetite for air travel and willingness to pay higher fares has helped airlines return to profitability despite higher costs for fuel, labor and other expenses tied to ramping their networks back up. Meanwhile, aircraft delivery delays…

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5 things to know before the stock market opens Tuesday

A trader works on the trading floor at the New York Stock Exchange (NYSE), January 5, 2023. Andrew Kelly | Reuters Here are the most important news items that investors need to start their trading day: 1. Back at it Welcome back from the holiday weekend. It’s only been two weeks, but 2023 has been kind to stocks. The Dow is up 3.5%, the S&P 500 has jumped 4.2%, and the Nasdaq, which had the worst 2022 of the three indices, is up 5.9%. Even though the Federal Reserve has…

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Stocks making the biggest moves midday: JPMorgan Chase, Wendy’s, Virgin Galactic, Delta Air Lines, Tesla and more

A sign is posted in front of a Wendy’s restaurant on August 10, 2022 in Petaluma, California. Justin Sullivan | Getty Images Check out the companies making headlines in midday trading. JPMorgan – Shares of the biggest U.S. bank by assets rose more than 2% after the firm posted fourth-quarter profit and revenue that topped expectations. The New York-based bank said profit jumped 6% from the year earlier period to $11.01 billion, or $3.57 per share. Interest income at the bank surged 48% on higher rates and loan growth. related investing news…

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