Transcript:
Conway Gittens: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
Wall Street regained composure after the beating stocks took last week. The Dow, the S&P 500 and the Nasdaq all ended the day higher. Gains for the Dow, however, underperformed after Verizon missed sales estimates.
Tuesday will be a busy day for earnings with results from marquee names like Coca-Cola, Google parent Alphabet, General Motors, UPS, Visa, and Tesla.
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In other news: Delta Airlines (DAL) is still reeling from the global technology meltdown that knocked 8.5 million computers offline. Delta canceled more than 5200 flights between Friday and Monday. According to FlightAware, that’s roughly 60 percent of all flight cancellations in the entire world. Delta has grounded one out of every six flights on its schedule, while competitors have only grounded 1 percent of theirs.
Delta CEO Ed Bastian told customers in a note: “One of our crew tracking-related tools was affected and unable to effectively process the unprecedented number of changes triggered by the system shutdown.”
The problem, of course, is not of Delta’s making, but it does come at a precarious time. Delta’s flights were already nearly filled to capacity for the peak summer travel season, and now with so many cancellations they don’t have enough seats to rebook passengers. This is likely to result in a financial hit as recent government regulations mandate refunds, and compensation of meal vouchers and hotel rooms for stranded travelers.
That’ll do it for your Daily Briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.
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