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✈️ It Might Be a Bumpy Summer for Ryanair
Plus, this CEO is in trouble for telling people to eat cereal for dinner.
Happy Tuesday afternoon to everyone on The Street. Here's a snapshot of where markets ended the trading session, plus tomorrow's trade idea delivered to you today.
🟨 | US stocks were mixed on Tuesday. The Dow tumbled nearly 100 points but the S&P 500 and Nasdaq Composite eked out gains. Wall Street is looking ahead to inflation data which will be released later this week.
📈 | One Notable Gainer: Norwegian Cruise Line jumped 20% on strong forward guidance.
📉 | One Notable Decliner: Unity Software fell 6% on worse-than-expected EBITDA guidance.
✈️ | Tomorrow's Trade: It might be a bumpy summer for Ryanair. Scroll down for more.
Plus, today’s partner outlined 9 easy ways to get money without getting a job.
S&P 500 Heatmap. Credit: Finviz
All stocks on US exchanges. Credit: Finviz
Global ADR snapshot. Credit: Finviz
MARKET MOVERS
VKTX (+121%) Viking Therapeutics stock jumps 115% after positive weight loss drug trial results (CNBC)
HES (-3%) Hess shares drop as fight with Exxon Mobil over Guyana oil threatens Chevron takeover (CNBC)
WDAY (-4%) Workday’s stock falls after earnings, but this analyst sees no ‘thesis breakers’ (MarketWatch)
HIMS (+31%) Hims & Hers Stock Surges After Earnings. Wall Street Sees More Growth. (Barron’s)
CAVA (+12%) Cava Earnings Come In Early — And Hot. The Restaurant IPO Is Jumping. (IBD)
POWERED BY FINANCE BUZZ
There’s nothing to be ashamed of if you're living paycheck to paycheck or struggling to make ends meet.
But not all of us have the time or luxury of picking up another job to make extra cash. It's tiring to work so many hours for very little take home pay.
Thankfully, there's a few ways that you can make some money (and save some too) by not getting a job. If you're struggling financially, here are 6 insanely easy things you can do right now that could help.
OVERHEARD ON THE STREET
CNBC: Warner Bros. Discovery is no longer pursuing a merger with Paramount Global as its shares trade near a 52-week low, according to people familiar with the matter.
BBG: Apple Inc. is canceling a decadelong effort to build an electric car, according to people with knowledge of the matter, abandoning one of the most ambitious projects in the history of the company.
CoinDesk: Republican senators have introduced legislation aimed at blocking a CBDC in the U.S.
CBS: Macy's on Tuesday said it plans to close roughly 150 underperforming stores over the next three years, the struggling retailer's latest effort to energize its business as it seeks to fend off a proposed takeover by activist investors.
WSJ: Modelo Especial won the big game with 8.7% of all beer sold in U.S. retail stores in the week before and the week after the Super Bowl, according to an analysis of Nielsen data by consulting firm Bump Williams. Bud Light represented 7.3%.
A MESSAGE FROM OUR PARTNERS
TOMORROW’S TRADE IDEA, TODAY
Bumpy Summer
It could be a rough summer for Ryanair Holdings (RYAAY), its customers, and its shareholders.
The low-cost European airline faces a turbulent journey as it anticipates fewer Boeing (BA) aircraft deliveries than expected by the end of June, according to CEO Michael O’Leary.
With one of the largest fleets of Boeing aircraft globally and significant orders for the 737 Max 10 models, Ryanair stands at the forefront of Boeing's crisis fallout in Europe.
Delivery Delays
In response to the potential shortage, O’Leary revealed that Ryanair might need to make minor schedule cuts, which would impact capacity during the peak summer travel season.
The delivery delays could result in Ryanair carrying only 200 million passengers for the financial year starting in April, down from the previous forecast of 205 million.
O’Leary highlighted the challenges, stating that further disruptions could affect the airline’s competitiveness against rivals like easyJet (ESYJY).
Choice Words For Boeing
In light of the delays, Ryanair is reportedly discussing compensation with Boeing.
As per a Financial Times report, O’Leary expressed frustration with the situation, labeling it a “shitshow” in Seattle, and emphasized the focus on obtaining the ordered airplanes.
He also hinted at passing some of the cost to customers, with potential price increases of 5%-10% this summer and average fares rising by 10-15 euros over the next five years.
Zoom Out
While Ryanair grapples with Boeing’s production issues, other airlines like Lufthansa and TUI are taking mitigating steps to address potential delays.
Analysts anticipate rising ticket prices across the sector due to general supply chain delays.
O’Leary remained open to additional Boeing orders if other carriers dropped their orders, signaling a potential opportunity for Ryanair’s growth in 2027 or 2028.
Are you bullish or bearish on Ryanair in 2024? |
POWERED BY FINANCE BUZZ
There’s nothing to be ashamed of if you're living paycheck to paycheck or struggling to make ends meet.
But not all of us have the time or luxury of picking up another job to make extra cash. It's tiring to work so many hours for very little take home pay.
Thankfully, there's a few ways that you can make some money (and save some too) by not getting a job. If you're struggling financially, here are 6 insanely easy things you can do right now that could help.
ON OUR RADAR
Axios: The U.S. has about 2.7 million more retirees than predicted, Bloomberg reports from a model designed by an economist at the Federal Reserve Bank of St. Louis.
Zillow: Just over one in five houses on Zillow saw a price cut in January – that's about equal to last year, but more common than in any of the five years prior.
BBG: Economists again marked down their US recession forecasts — to 40% — on expectations that a firm job market and sturdy consumer spending will support stronger economic growth in the near term.
NYP: Kellogg’s CEO Gary Pilnick is facing backlash after suggesting people should eat cereal for dinner to save money.
CNBC: Miami is the most competitive city in the nation for renters, but on a regional level, the Midwest ranks first for competition.
A MESSAGE FROM OUR PARTNERS
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