American Airlines Group inc
The airlines want to end the mask requirement. US airlines on Wednesday urged President Biden to drop requirements for passengers on planes and at airports. Executives at American Airlines, United Airlines Holdings inc
and others wrote in a letter to Mr Biden that mandatory masking and requiring passengers to test negative for Covid-19 before flying to the US from abroad are no longer necessary as cases and hospitalizations fall. American Airlines shares gained 3.2% on Thursday.
The demand for Nike shoes exceeds the supply. The sneaker giant’s sales have soared of late as the company capitalized on gains in its digital business while navigating difficulties in its supply chain and working to bring its Asian suppliers back to full production. Still, persistent inflation and the aftermath of the war in Ukraine pose challenges for the apparel maker’s sales in the coming quarters. The company said earlier this month it was closing its stores in Russia, citing greater difficulties in managing its operations business after the country invaded Ukraine. Nike shares gained 2.2% on Tuesday.
Walt Disney co
Disney is facing backlash for its botched response to recent Florida legislation. Workers, fans, shareholders and elected officials have criticized the entertainment giant for failing to publicly comment on Florida’s Republican-led education law, which bans teaching children in third grade or younger about gender identity or sexual orientation Lessons restricted for older students. Some US employees rallied Tuesday to protest what they called Disney’s failure to support LGBT employees. At a virtual town hall meeting Monday, Chief Executive Bob Chapek said Disney will oppose the Texas GOP governor’s recent move to order that parents who provide gender-specific medical care to young children be investigated for child molestation. Disney stock fell 1.2% on Monday before gaining 1.1% on Tuesday.
A Seattle Starbucks store served up a union victory on Tuesday. Chain workers at a single location in the city voted 9-0 to be represented by the Starbucks Workers United union. The store, which is a 10-minute drive from Starbucks headquarters, is the first in the coffee chain’s hometown to seek representation, just as Howard Schultz will return as chief executive. Pro-union workers at the store said they wanted management to take better care of baristas and allow workers to unionize. Starbucks said during its annual investor meeting last week that it aims to do more to improve the work environment for baristas and to listen to its employees. Starbucks shares gained 1.2% on Tuesday.
A Covid-19 vaccine for young children could soon be available. Moderna’s shot safely induced robust immune responses in children aged 6 months to 5 years in a new study, the company said on Wednesday, although the vaccine was less effective against the Omicron variant. The company said it will seek approval for use in children under the age of 5, and if regulators agree, one of the last remaining age groups who are ineligible for a Covid-19 vaccine in the US could finally start doing so to get the vaccinations. Pfizer’s vaccine inc
and its partner BioNTech SE is approved for ages 5+, while Modernas was previously only available to adults 18+ in the US. Moderna shares lost 4.3% on Wednesday.
Hundreds of businesses could be at risk after Okta’s recent hack. The identity verification provider said hundreds of its customers may have been affected by a data breach in January. The hack claimed by the Lapsus$ group came from the laptop of an engineer employed by a subcontractor, which the hackers accessed between Jan. 16 and Jan. 21, Okta said Tuesday. Okta’s customers rely on its software to manage secure access to their internal computer networks. Okta said the attack affected up to 366 customers, or 2.5% of the more than 15,000 businesses and institutions it serves worldwide. Okta said it has contacted potentially affected customers. Okta shares fell 11% on Wednesday.
Uber Technologies inc
Uber teams up with a former enemy. The company has reached an agreement to list all New York City cabs on its app, the Wall Street Journal reported Thursday. The alliance could ease Uber’s driver shortage and mitigate high fares while targeting more business to taxi drivers whose livelihoods have been impacted by the rise of car-sharing apps and the pandemic. Passengers pay about the same fare for cab rides as they do for standard Uber X rides. The ride-hailing company is facing a shortage of gig drivers in the U.S. after many took on other jobs like delivering groceries and groceries during the pandemic. Uber shares rose 5% on Thursday.
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https://www.wsj.com/articles/american-airlines-nike-starbucks-stocks-that-defined-the-week-11648250019?mod=rss_markets_main American Airlines, Nike, Starbucks: stocks that dominated the week