Travel companies such as Airbnb and Marriott International are bracing for a slowdown in leisure travel as U.S. consumers delay booking vacations amidst economic uncertainty. This shift in consumer behavior can be attributed to several factors that are impacting the travel industry. Impact on Industry Bottom Line The decrease in demand for leisure travel is
Wall Street
Super Micro Computer, once a highflier in the AI industry, experienced a significant setback as its shares tumbled by 14% in premarket trading due to a faster-than-expected contraction in gross margin. The company reported an adjusted gross margin of 11.3% for the fourth quarter, down from 17% a year earlier, which fell below analysts’ expectations
SoftBank Group, a tech investment giant based in Japan, is anticipated to report a modest profit for the first quarter. However, the focus is on whether the company will announce a major share buyback program amidst market turbulence and investor pressure. Investors have been urging SoftBank to consider a share buyback due to the significant
The U.S. stock index futures took a significant hit in evening trading on Sunday due to concerns surrounding an economic slowdown. This was further compounded by profit-taking in the technology sector, leading to a decline in major indices. S&P 500 Futures dipped by 0.9% to 5,329.0 points, and Nasdaq 100 Futures saw a 1.4% drop
Mars, the family-owned food giant well-known for its candy brands like M&M’s and Snickers, is reportedly considering the acquisition of Kellanova. Kellanova, the maker of popular snacks such as Cheez-It and Pringles, has a market value of $22 billion, making it an attractive target for Mars. While Kellanova’s stock has seen a 20% increase since
Analysts from Bernstein have praised Apple’s fiscal Q3 performance by highlighting that the results were modestly ahead of consensus. They noted that revenues grew by 5% and services expanded by 14%. Moreover, Bernstein emphasized Apple’s strong free cash flow and its restrained capital expenditures, describing Apple’s approach as “capital-light” to mitigate overinvestment risks. Goldman Sachs
In Burbank, California, video game voice actors and motion-capture performers took a stand by holding their first picket in front of Warner Bros. Games. The key concern for these performers is the threat that artificial intelligence poses to their professions. According to Leeanna Albanese, a voice actor and strike captain, the models used in the
Billionaire investor Bill Ackman made the surprising decision to cancel the launch of Pershing Square USA just days before it was scheduled to begin trading on the New York Stock Exchange. This move came after he had downsized the initial public offering (IPO) plans twice in a single week due to various issues. Ackman cited
German airline Lufthansa is facing a challenging third quarter, with expectations of lower earnings due to falling yields and increasing unit costs. The aviation industry in Europe is experiencing a flattening demand, leading to setbacks for airlines dealing with rising costs and limited availability of aircraft. Airfares in both Europe and Asia have plateaued or
Europe’s Airbus has recently disclosed a significant drop in second-quarter profits due to the expenses related to investing in higher jetliner production. This, combined with previously announced charges in its Space Systems business, has resulted in a more than 50% decrease in adjusted operating profit to 814 million euros ($879.7 million) for the quarter. Despite
Global stocks edged up on Monday as investors brace for a week full of earnings reports and central bank meetings. This week could see the United States and the UK potentially opening the door to interest rate cuts, while Japan may take steps towards “normality” by raising borrowing costs. Oil prices also inched up due
The assessment by Citi strategists on the potential impact of the 2024 US presidential election on oil prices suggests that under a Trump administration, the oil market could experience a net bearish trend. This could be attributed to factors such as trade tariffs, oil-and-gas-friendly policies/deregulation, and efforts to push OPEC+ to release more oil to
Indian Prime Minister Narendra Modi’s upcoming visit to Ukraine has sparked controversy and raised eyebrows in the international community. This visit comes at a critical time, as Russia continues its war with Ukraine and faces sanctions from Western countries. Modi’s visit will mark his first time in Ukraine since the conflict began, and it follows
The U.S. Department of Justice has taken a firm stance in requiring China-based ByteDance to sell TikTok‘s U.S. assets due to concerns about national security. The department argues that TikTok, under Chinese ownership, poses a significant threat because of its access to vast amounts of personal data of Americans. The fear is that China could