News
JetBlue Airways Corp. JBLU, -1.67% said Friday that it is seeing “strong demand” extend beyond the summer peak, with “robust” demand for travel in September and beyond. The air carrier raised its third-quarter guidance for growth in revenue per available seat mile (RASM), compared with pre-pandemic 2019, to $22% to 24% from 19% to 23%. […]
Shares of Kahoot! A/S KAHOT, +21.96% KAHTY, -17.57% rallied 23% Friday after General Atlantic said it would buy out Softbank Group Corp.’s 9984, +0.37% SFTBY, -0.21% 15% stake in the Norway-based game-based learning and trivia software company. “Kahoot! plans to partner with General Atlantic to accelerate further growth initiatives, drive innovation, and expand its global […]
China-based ByteDance, the privately held parent of social media app TikTok, is looking to repurchase $3 billion of its shares, to help improve liquidity positions of some of its shareholders, according to a Reuters report. The buyback would value ByteDance at about $300 billion, Reuters reported, citing a memo to investors seen on Friday. ByteDance […]
The World Health Organization expanded its recommended guide for the use of Gilead’s GILD, +0.60% COVID-19 treatment Veklury late Thursday, adding another treatment to its toolbox. The company said WHO updated its guidelines to recommend the drug to treat patients with severe COVID, an expansion from simply “those with non-severe COVID-19 at the highest risk […]
Despite mixed data on the US economy released on Thursday (strong retail sales and unemployment claims, weaker-than-expected industrial production), Treasury sell-off gained momentum with two-year yield climbing above 3.90%. Rate futures imply a 4.5% Fed interest rate in March 2023. Since the start of September markets have added almost 50 basis points to the expected […]
UK Retail Sales Plunge The British Pound has come under heavy selling pressure on Friday in response to the latest economic data out of the UK. Retail sales for August were seen falling to -1.6% from the prior month’s 0.4% reading. This was well below the -0.5% reading the market was looking for and marks […]