Plus: Stocks that moved heavily, Delta won’t furlough pilots, Holiday trends to watch, Closing prices for crude oil, The pandemic is changing Hollywood, maybe forever.
Stocks closed on Thursday for the thanksgiving.
Stocks that moved heavily or traded substantially Wednesday:
Autodesk, up $12.27 to $271.24
The design software company raised its profit forecast for the fiscal year after reporting solid third-quarter financial results.
American Eagle Outfitters, up 70 cents to $18.49
The teen clothing retailer’s third-quarter earnings beat analysts forecasts.
HP, up 50 cents to $22.25
The personal computer and printer maker beat Wall Street’s fiscal fourth-quarter profit and revenue forecasts.
Gap, down $5.27 to $21.60
The clothing chain’s third-quarter profits fell short of analysts’ forecasts.
Nordstrom, up $2.86 to $27.41
The department store operator reported a surprising third-quarter profit.
Delta won’t furlough pilots; job cuts possible at Southwest DALLAS (AP) — Delta Air Lines on Wednesday dropped a threat to furlough more than 1,700 pilots after they ratified a cost-cutting agreement that the airline said was needed to help it cope with a downturn caused by the pandemic. The airline had planned to furlough about 13% of its 12,900 pilots on Saturday if an agreement to reduce costs wasn’t reached. The deal doesn’t cut pilot pay rates, but it indirectly lowers their pay by reducing guaranteed monthly working hours by up to 5%. In exchange, Delta promised not to furlough pilots through Jan. 1, 2022. The Air Line Pilots Association said about four-fifths of its Delta members voted and 74% of those ratified the deal.
Holiday trends to watch: Adult Play-Doh; stores that ship NEW YORK (AP) — The pandemic is turning this into a holiday shopping season like no other. Toy companies are targeting stuck-at-home grown-ups with latte-smelling Play-Doh and Legos that turn into Warhols. Those who added a puppy to their family during the pandemic will see tons of gift options for their new furry friend. And with more people shopping online, stores are doing double duty as shipping centers to try to get gifts to doorsteps as fast as possible. Here’s what to expect:
Closing prices for crude oil, gold and other commodities: Benchmark U.S. crude oil for January delivery rose 80 cents to $45.71 a barrel Wednesday. Brent crude oil for January delivery rose 75 cents to $48.61 a barrel. Wholesale gasoline for December delivery rose 3 cents to $1.29 a gallon. December heating oil rose 3 cents to $1.39 a gallon. December natural gas rose 12 cents to $2.90 per 1,000 cubic feet. Gold for December delivery rose 90 cents to $1,805.50 an ounce. Silver for December delivery rose 6 cents to $23.36 an ounce and December copper rose 1 cent to $3.31 a pound.
The pandemic is changing Hollywood, maybe forever NEW YORK (AP) — “No New ‘Movies’ Till Influenza Ends” blared a New York Times headline on Oct. 10, 1918, while the deadly second wave of the Spanish Flu was unfolding. A century later, during another pandemic, movies — quotes no longer necessary — are again facing a critical juncture. But it’s not because new films haven’t been coming out. By streaming service, video-on-demand, virtual theater or actual theater, a steady diet of films have been released under COVID-19. The Times has reviewed more than 460 new movies since mid-March.
Stocks We’re Watching
LightPath Technologies, Inc. (LPTH) – LightPath Technologies, Inc. designs, develops, manufactures, and distributes optical components and assemblies. The company offers precision molded glass aspheric optics, molded and diamond-turned infrared aspheric lenses, and other optical components used to produce products that manipulate light.