The past week s bullish calls included the iPhone maker, top airlines and a leading coffee purveyor.
Social media and electric vehicle leaders were among the bearish calls seen during the week.
The stock market kept hitting new record highs in the final week of April, with the Nasdaq posting a 5% or so gain for the month and the Dow Jones industrials up about 3% in that time. Still, the S&P 500 managed to end the week essentially flat and the other two indexes fractionally lower.
Earnings reports continued to roll in during the week, largely beating expectations, including from most of the FAANG stocks. Some market darlings were punished despite strong quarterly results. The preliminary first-quarter gross domestic product figure was better than expected as well, but just barely.
1 During the pandemic, Qatar is flying planes that are often near-empty on routes around the world to boost market share. reuters
Qatar Airways Ltd. spent years in the shadow of Emirates Airline. An aggressive run at its rival during the pandemic has helped it eclipse Emirates as the world s biggest long-haul carrier for now.
Doha-based Qatar is flying planes that are often near-empty on routes around the globe to increase market share. It is using a downsizing at Emirates to hire staff.
And while other airlines have reduced services to markets closed by Covid-19, state-backed Qatar is pursuing new landing rights to emerge stronger post pandemic.
As part of the development, Benzinga chatted with Edge Clear founder Morad Askar.
Takeaway: “If you were trading for me, and I’m going to put money behind you, I need this thing to really serve you well, in order to see you do well. This is how we are approaching the development and evolution of EdgeProX, and whatever else we do,” Askar said in reference to the platform allowing all traders access to professional tools.
“It’s offering the kind of tools you need in order to perform at your peak as a prop trader.”
What Happened: In light of increased consumer demand for versatile payment options like buy now, pay later (BNPL), Barclays partnered with Amount to become one of the first major U.S. banks to offer point-of-sale (POS) financing installment options. As part of the development, Barclays will also offer merchants the option of POS payments under their own brand.
Pandemic-hit ANA posts record FY 2020 loss, expects return to black
ANA Holdings Inc. said Friday it posted a record net loss of 404.62 billion yen ($3.7 billion) in the last fiscal year, hurt by a pandemic-caused slump in travel demand, but it expects cost-cutting efforts to help it return to profitability in the current business year.
ANA, the parent of All Nippon Airways Co., reported an operating loss of 464.77 billion yen in the fiscal year ended March 31, as sales plunged 63.1 percent to 728.68 billion yen.
Its cost-reduction steps such as canceling flights and scaling back its fleet failed to make up for a plunge of over 70 percent in total passengers amid the COVID-19 crisis, which has hit the global airline industry.