Delta Air (DAL) Rose For Making Less Quarterly Loss, Alphabet (GOOGL) Dropped After Fitbit Deal

On Thursday, Delta Air Lines, Inc. (DAL) increased to $41.47, up +2.52 percent. Delta Air Lines finished the year 2020 with a net loss of $12.4 billion, the first negative outcome since 2009. The loss per share after adjustments was $2.53 vs $2.51 consensus. Against an estimate of at least $14 million, the company burned an average of $12 million in cash every day during the time. In the current year, it only expects $10 million to $15 million, but it hopes to stop bleeding in the spring. In the last three months of the year, Delta reported $1 billion in Covid-19-related expenditures, while overall adjusted operating expenses declined by $4.6 billion, or 47 percent.

However, Delta, which managed to discourage redundancies, found out that about 18,000 employees, or 20% of the staff, had planned to leave the organization in 2020. The company has no plans to make redundancies after the second round of government aid to airlines expires in March. However, by 2025, it plans to remove almost 400 aircraft to simplify its fleet by limiting it to nine families of aircraft.

Alphabet Inc. (GOOGL), the parent company of Google, was down -0.93 percent to $1730.92. For $2 billion, or $7.35 per share, Google finally completed its acquisition of Fitbit. Initially, the deal was announced in November 2019, but regulatory hurdles, particularly in Europe, have caused the delay. After Google’s assurances on private data were secured, the European regulator eventually gave the go-ahead.

Nordstrom, Inc. (JWN) went up by +1.17% to $38.02 on the day. A 22% decrease in sales during the holiday season (November-December) was announced by the U.S. department store chain.

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