Southwest Airlines Co. (NYSE: LUV) on Tuesday reported first-quarter 2020 earnings results. While the revenues missed Wall street projection, earnings were better than what analysts had anticipated. The airline company added that it expects operating expenses to decline 90-95% in May 2020, beyond which, estimation was not possible.
LUV shares fell 2.2% immediately following the announcement. The stock has tumbled 47% since the beginning of this year.
Last week, Delta Air Lines (NYSE: DAL) reported revenue of $8.6 billion, down 18% year-over-year, hurt by COVID-19.
Web meeting platform Zoom Video Communications (NASDAQ: ZM) reported a multi-fold surge in third-quarter revenues, reflecting the growing demand for remote conferencing services during the shutdown. Both the top-line and
Fastly, Inc. (NYSE: FSLY) has been expanding its footprint in edge computing, a largely untapped tech segment that got a boost from the mass shift to digital platforms during the
The recent optimism about economic recovery waned slightly this week after jobless claims increased more-than-expected to about 778,000 amid concerns over a resurgence in coronavirus cases. With the healthcare system