Nurphoto | Nurphoto | Getty Images Delta Air Lines on Thursday forecast record revenue for the third quarter thanks to booming summer travel demand, but its earnings forecast fell short of analysts’ estimates. Shares of Delta fell about 7% in premarket trading. Here’s how the company performed in the three months ended June 30, compared with … Read more
Passengers pass through O’Hare airport in Chicago, July 3, 2024. Scott Olson | Getty Images Record summer air travel demand isn’t translating to record U.S. airline profits. Carriers will have to answer for that disconnect when they report quarterly results this month. Some airlines have forecast record demand, and in some cases, revenue. But higher … Read more
Federal Reserve Board Vice Chair for Supervision Michael Barr testifies before a House Financial Services Committee hearing on the response to the recent bank failures of Silicon Valley Bank and Signature Bank, on Capitol Hill in Washington, March 29, 2023. Kevin Lamarque | Reuters The Federal Reserve said Wednesday that the biggest banks operating in … Read more
An Airbus A330-323 aircraft, operated by Delta Air Lines. Benoit Tessier | Reuters Delta Air Lines is the country’s most profitable airline. CEO Ed Bastian’s challenge is to make sure his carrier stays on top. The airline’s unit revenue, the amount it brings in for every seat it flies one mile, outpaced its competitors’ last … Read more
TripActions CEO Ariel Cohen TripActions The boss of travel and expense management platform Navan told CNBC he’s preparing the company to get its business into shape for an eventual initial public offering this year, in another sign leaders of privately-held startups are getting more optimistic about their prospects in the public markets. Asked about when … Read more
At American Express, consumers are continuing to open high-fee credit cards and splurge on luxuries like travel. But for lending firm Upstart, there’s a strong interest in microloans as cash-strapped Americans try to scrape by. That juxtaposition underscores the growing picture of bifurcation among income brackets in America. And adds to an increasingly popular view … Read more
Vadym Buinov | Moment | Getty Images Working parents, guardians or caretakers know the challenge of striking the delicate balance between work and care responsibilities. From paid parental leave to quality health care coverage and equal pay that cover childcare costs, it’s become a priority for workers to find an employer that recognizes parents have … Read more
A customer walks through The Home Depot store on February 20, 2024 in Austin, Texas. Brandon Bell | Getty Images The state of the consumer in 2024 is already taking shape — even before the country’s major retailers begin to report first-quarter earnings, starting with Home Depot and Walmart next week. There are signs that … Read more
CNBC’s Jim Cramer on Friday guided investors through the upcoming earnings-packed schedule on Wall Street, saying to focus on reports from companies such as Uber, Disney and Warner Bros. Discovery. Since April’s labor report was weaker than expected, he said investors can worry less about the Federal Reserve’s next move. “Now that it’s clear the … Read more
American Express CEO Steve Squeri told CNBC’s Jim Cramer on Tuesday how the company attracted more millennial and Generation Z customers, saying the cohort made up 60% of new card acquisitions during the last quarter. Squeri said that in realizing the importance of having younger clientele, American Express strived to offer cards with a high … Read more
