Garuda New 737 Plane's Higher Rent May Strain Finances Further
The struggling Indonesian airline is paying around $400,000 per month for the 737 Max 8 it has leased from BOC Aviation Ltd., according to people familiar with the matter. The state-owned carrier pays on average $200,000 a month for its existing older Boeing 737-800 fleet, the people said, asking not to be identified discussing details that are private.
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Yahoo
22 minutes ago
- Yahoo
Philippines goods to face 19% tariff, Trump says
The US will levy a 19% tax on imports from the Philippines, US President Donald Trump has announced after meeting with the country's president at the White House. Trump wrote on social media on Tuesday that the new tariff was part of a wider pact, in which the Philippines would remove duties on US goods and the two countries would cooperate militarily. "It was a beautiful visit, and we concluded our Trade Deal," he wrote on social media, offering no further details about the apparent agreement. The plan, which was not confirmed by the Philippines, would leave the country facing a tax even higher than what Trump had threatened when he first announced sweeping global tariffs in April. At the time, Trump said his goal with instituting tariffs was to push countries to drop policies he saw as unfair to the US. His plans set off a flurry of trade talks with countries around the world. He has since announced a handful of deals, including with the UK, China and Indonesia. But the agreements so far have kept in place high tariffs, with key issues unresolved or unconfirmed by both parties. With Trump now threatening a new round of higher duties to go into effect 1 August, some of America's biggest and most important trade partners, including the European Union and Canada, remain in limbo. As hopes for a deal dim, officials in Europe are increasingly rallying around plans for potential retaliation. In Canada on Tuesday, Prime Minister Mark Carney said that "complex negotiations" were continuing but was noncommittal on the prospect of reaching a deal by Trump deadline next week. "We'll see," he told reporters after meeting with premiers in Ontario. "The Americans objectives are multiple, they change over time ... but what is clear is that the Canadian government will not accept a bad agreement. The objective is not to have an agreement at any cost." Trump's tariff plans sparked widespread financial turmoil when he announced them originally in April, putting forward a plan that would leave the US with its highest duties since the early 1900s. He subsequently suspended some of the plan's most aggressive measures, while leaving in place a universal 10% tariff on most goods and separately hitting certain items, such as cars, copper, steel and aluminium, with higher duties. But in recent weeks, as markets have calmed and the US economy held steady, Trump has returned to plans for higher duties, sending letters to countries outlining plans for new tariffs that he says will go into force on 1 August. In a letter to leaders in the Philippines this month, he had said he would charge a 20% tariff on the country's goods. That was up from 17% rate he had threatened in April. In a statement on Wednesday, the Embassy of the Republic of the Philippines said the reduction in the tariff from the most recent rate threatened was "encouraging". "We will continue to find other ways to enhance and deepen our economic partnership," it said. The Philippines is a relatively small trade partner with the US, sending about $14.2bn worth of goods to the America last year. That included car parts, electric machinery, textiles and coconut oil. Meanwhile for companies, the cost of the new tariffs is increasing. General Motors on Tuesday said tariffs had cost it more than $1bn over three months. That followed an earlier disclosure from rival Stellantis, maker of Jeep, which said the measures had cost it €300m (£259.6m, $349.2m). Error while retrieving data Sign in to access your portfolio Error while retrieving data
Yahoo
32 minutes ago
- Yahoo
Southwest Airlines (LUV) Q2 Earnings and Revenues Lag Estimates
Southwest Airlines (LUV) came out with quarterly earnings of $0.43 per share, missing the Zacks Consensus Estimate of $0.51 per share. This compares to earnings of $0.58 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -15.69%. A quarter ago, it was expected that this airline would post a loss of $0.18 per share when it actually produced a loss of $0.13, delivering a surprise of +27.78%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Southwest, which belongs to the Zacks Transportation - Airline industry, posted revenues of $7.24 billion for the quarter ended June 2025, missing the Zacks Consensus Estimate by 0.7%. This compares to year-ago revenues of $7.35 billion. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Southwest shares have added about 10.6% since the beginning of the year versus the S&P 500's gain of 7.3%. What's Next for Southwest? While Southwest has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Southwest was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.28 on $7.08 billion in revenues for the coming quarter and $1.10 on $28.05 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Transportation - Airline is currently in the top 36% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Joby Aviation, Inc. (JOBY), another stock in the same industry, has yet to report results for the quarter ended June 2025. This company is expected to post quarterly loss of $0.19 per share in its upcoming report, which represents a year-over-year change of -5.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Joby Aviation, Inc.'s revenues are expected to be $0.05 million, up 66.7% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Southwest Airlines Co. (LUV) : Free Stock Analysis Report Joby Aviation, Inc. (JOBY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Bloomberg
38 minutes ago
- Bloomberg
China State Fund Pumped $28 Billion Into ETFs as Turmoil Raged
Chinese sovereign wealth fund Central Huijin Investment Ltd. pumped around 197.5 billion yuan ($27.6 billion) into exchange-traded funds in the second quarter, pushing back against a stock market rout that followed US President Donald Trump's tariff announcements. The fund stuck with its favorite ETFs tracking broad gauges, with more than half of its flows going into those that follow the benchmark CSI 300 Index. The index, which suffered a one-day loss of around 7% on April 7 as Trump's tariff moves pushed global markets into a tailspin, ultimately ended the quarter higher than it started.
