UBS has initiated coverage of U.S. airlines, assigning Buy ratings to Alaska Air, Delta Air Lines, and United Airlines, while downgrading Southwest Airlines and JetBlue Airways to Sell. The firm anticipates that capacity reductions will enhance revenue per available seat mile (RASM) and improve margins by 2025, driven by a shift in supply growth. Delta, United, and Alaska are noted for their strong revenue growth and healthier balance sheets, positioning them well against industry challenges, while Southwest and JetBlue face significant headwinds due to weak margins and high leverage.
18:56 26.11.2024
Swiggy's share price surged 7% to Rs 462, valuing the company at Rs 1.03 trillion, following UBS's initiation of coverage with a "buy" rating and a 12-month price target of Rs 515. UBS highlighted a significant valuation discount compared to Zomato, projecting Swiggy's GMV growth to align with Zomato's in the low-20s over FY24-27E, while improving margins are expected to reach 2.8% by FY27E.
18:47 26.11.2024
Northvolt AB, the troubled electric-vehicle battery manufacturer, has engaged Houlihan Lokey Inc. as a financial adviser to secure funding for a turnaround. The Swedish company recently filed for bankruptcy protection in the US after unsuccessful negotiations with stakeholders, leading to the resignation of co-founder Peter Carlsson as CEO.
Four employees of Barrick Gold Corp. have been arrested by Mali’s military government amid escalating disputes over the company's local mining operations. Charged and detained pending trial, Barrick denies the allegations and aims to engage with the Malian government for a sustainable resolution.
UBS has initiated coverage of U.S. airlines, rating Alaska Air, United, and Delta as "buy," citing expectations for strong earnings growth driven by improved revenue per available seat mile and margins in 2025. The firm highlights the companies' robust pre-tax margins and healthy balance sheets as buffers against travel demand fluctuations and cost inflation.Conversely, UBS has issued "sell" ratings for Southwest Airlines and JetBlue Airways, citing concerns over Southwest's poor margin performance and execution risks, as well as JetBlue's uncertain path to positive operating margins and high leverage.
18:41 26.11.2024
Italian tax police have conducted searches at several legal firms as part of an investigation into alleged tax fraud involving five individuals, including John Elkann, the Chair of Stellantis and Ferrari. Prosecutors announced the developments on Tuesday.
UBS has initiated coverage on U.S. airlines, emphasizing the impact of supply and demand on RASM growth and margins through 2025. Buy ratings were assigned to Alaska Air, Delta, and United Airlines, while American, Allegiant, and Frontier received neutral ratings. Southwest and JetBlue were given sell ratings due to financial concerns, with industry-wide pretax margins projected to rise to 6.6% in 2025, supported by a forecasted 3.5-4.0% growth in passenger revenues.
18:30 26.11.2024
A significant portion of Americans is set to inherit wealth, with estimates suggesting nearly $73 trillion will be passed down over the next 25 years, more than double the amount projected a decade ago. While most do not receive substantial inheritances, those who do can see their financial futures transformed. Bloomberg News is interested in hearing personal stories related to these inheritances.
Silver prices are struggling to hold the crucial 30-dollar mark as investors await insights from the upcoming Fed minutes, which may influence monetary policy. Meanwhile, President-elect Trump’s tariff announcements against Canada, Mexico, and China add to market uncertainty, potentially impacting global economic stability. Key US economic data, including the PCE core deflator and durable goods orders, will also be closely monitored for further market direction.
IG
18:26 26.11.2024
Aston Martin Lagonda Global Holdings Plc is seeking to raise £110 million through new share issuance and an additional £100 million in debt following its second profit warning in two months. The luxury carmaker, known for its association with James Bond, aims to bolster its finances amid ongoing challenges.
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