Today is Wednesday, January 18, 2023.
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United Airlines Profit Outlook
United Airlines Holding (Nasdaq: UAL) projected strong future profits in its financial results, sending shares up 2.34% in after-hours trading on Tuesday.
Financials: United Airlines reported earnings of $2.46 per share and revenue of $12.4 billion in the quarter; both were better than expected.
Big Growth: Despite recent winter weather events, United Airlines grew revenue by 14% and increased total revenue per available seat by 26%. This was in spite of a 9% drop in capacity.
Projection: The company sees an “unprecedented demand in air travel” and it projects higher-than-expected profits for the current quarter and for the full year.
Around the Market: United Airlines’ outlook sent the shares of other airlines up during after-hours trading, most notably a 1.11% increase for American Airlines Group (Nasdaq: AAL).
Stock Price: These results are part of a larger trend for United Airlines. The stock is up 12% in the last 12 months and up 34% in the last 30 days.
Final Thoughts: It’s clear that there is strong travel demand. This bolds well for other travel stocks. These results also indicate that overall consumer sentiment is strong.
Notable Earnings Today: Kinder Morgan (NYSE: KMI), Charles Schwab (NYSE: SCHW), Alcoa (NYSE: AA), J.B. Hunt Transport Services (Nasdaq: JBHT), Prologis (NYSE: PLD), Discover Financial Services (NYSE: DFS), PNC (NYSE: PNC), H.B. Fuller (NYSE: FUL), Texas Capital Bancshares (Nasdaq: TCBI), Wintrust Financial (Nasdaq: WTFC), Preferred Bank (), First Horizon (NYSE: FHN), Eagle Bancorp (Nasdaq: EGBN).
Notable IPOs Today: N/A.
Notable Equity Crowdfunding Campaigns Ending Today: NetWire (Netcapital), Psalm 116: Dilexi, quoniam by Damien Hirst (Republic), Cust Corp. (Netcapital), GoPillar (Republic).
Notable Economic Events Today: Retail Sales (8:30 a.m. ET), PPI (8:30 a.m. ET), Industrial Production (9:15 a.m. ET), Business Inventories (10:00 a.m. ET), Retail Inventories (10:00 a.m. ET), TIC Net Long-Term Transactions (4:00 p.m. ET).
Moderna’s RSV Vaccine Phase 3 Results
New vaccine results for Moderna (Nasdaq: MRNA) caused shares of the stock to spike 6.47% in after-hours trading on Tuesday.
Details: Moderna’s respiratory syncytial virus (RSV) vaccine was 83.7% effective against the disease in older adults, according to the phase 3 results of the trial. Moderna now plans on submitting the results for regulatory approval in the first half of 2023.
Background: RSV is a virus that causes respiratory infections. In the United States, there’s been an outbreak of RSV in the last year, with cases growing in late 2022.
Stock Price: Shares of Moderna are up 2% in the past 12 months and are about even in the last 30 days. This is good considering that other health stocks have dropped during that time.
Final Thoughts: Moderna has seen incredible growth in the past few years. In addition to RSV and Covid-19, Moderna is using its technology to target other viruses. The company has been in hot water in recent weeks for suggesting that it would reportedly charge up to $130 for a Covid-19 vaccine.
Interactive Brokers Jumps on Good Results
Shares of Interactive Brokers Group (Nasdaq: IBKR) jumped 1.44% in after-hours trading on Tuesday after the brokerage firm posted positive financial earnings.
Final Thoughts: The company cited higher commission revenue and higher net interest income for its growth.
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Trends to Watch
It’s a Small Proxy Fight After All: Disney Defends Board, CEO Robert Iger Against Nelson Peltz’s Criticisms (The Wall Street Journal)
Up or Down: Bitcoin holds $20K while flirting with a neutral futures premium for the first time in 6 months (Cointelegraph)
Scaling Back: Microsoft to Cut Engineering Jobs This Week as Layoffs Go Deeper (Bloomberg)
Regression: Progress Software stock weakens on mixed quarter, outlook (MarketWatch)
Alternative Investing: 3 Promising StartEngine Investments for 2023 (Benzinga)
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