Tuesday, March 2, 2021

Travelers Companies (TRV) Rose While United Airlines (UAL) Fell After Quarterly Results

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On Thursday, The Travelers Companies Inc. (TRV) risen by +2.55% to $148.72. The U.S. insurer posted better-than-expected quarterly earnings, helping to reduce disaster-related expenses and raise investment returns. Benefit from savings rose by 10 percent and premiums hit a record peak.

Alphabet Inc. (GOOGL) with +0.22% were stable at $1884.15 in the session. A framework agreement on the use of online press publications has been negotiated with Google France by the General News Press Alliance (APIG), which represents over 300 daily and weekly newspapers. The reporting does not affect Wall Street. Piper Sandler, on the other hand, started monitoring the stock to ‘overweight’ with a $2.056 target price.

Tesla, Inc. (TSLA) was stable at $844.99, slipping -0.64 percent on the day. The manufacturer’s California registrations have soared 63 percent year-on-year, in the fourth quarter of 2020, with the popularity of The Model Y as unveiled in the Cross-Seel statistics.

Corteva, Inc. (CTVA) was down to $41.65, after seeing a drop of -4.6 percent. In the well-informed Wall Street Journal news, the investor fund Starboard aims to take charge of the board of the farm seed company and oust its chief executive, quoting sources close to the matter.

United Airlines Holdings, Inc. (UAL) dropped to $42.59, slipping -5.73 percent in Thursday trading. In the fourth quarter, United Airlines, a survivor of the sectoral recession, reported a substantial loss, while its sales dropped 69 percent year-on-year for the period. Amidst the health situation, the U.S. carrier reported its fourth consecutive quarterly loss. By 2023, the company plans to reduce costs by about $2 billion.

Meanwhile, for the three months ended December, the Chicago-based company posted an adjusted loss of $2.1 billion or $7 per share, compared with a profit of $676 million a year earlier. The average prediction of analysts was $6.6 per share. Operating profits were just $3.4 billion, but that is also in line with plans. United Airlines expects sales to decline by 65-70 percent in the quarter and ability to be cut by 51 percent.

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