Patrick Moorhead: The U.S. lifting China restrictions is a positive sign for chip software designers
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CNBC
25 minutes ago
- CNBC
Southwest Airlines sets a date for seat assignment launch, lays out new boarding order
Southwest Airlines passengers will fly in assigned seats for the first time on Jan. 27, the carrier told CNBC. Customers can start buying tickets with assigned seats on July 29. The move ends more than half a century of open seating on the airline, a policy that has set it apart from rivals for decades — along with two free checked bags. Both things are changing as Southwest's leaders seek new revenue streams to keep up with more profitable rivals. Southwest said in March that its host of initiatives would add $800 million to earnings before interest and taxes this year and $1.7 billion in 2026. The airline first announced it would end its open seating a year ago, but it had yet to set a date. The changes are part of Southwest's massive overhaul of its business model. The carrier in March also said it would start charging many customers to check bags and announced new fare types this spring. Top-tier customers are exempt from many of the new restrictions and fees. Southwest used computer models and live tests to ensure the new policies wouldn't slow down boarding and would get planes back in the the money-making air quickly. "We wanted to make sure that, as we designed a boarding construct that sort of paired well with assigned seating, that we were optimizing for efficiency, but also the second priority: balancing that with making sure that we're taking care of our most loyal customers, so tier members, cardholders and customers who buy our most premium products," Stephanie Shafer Modi, managing director of fares and ancillary products at Southwest, told CNBC. Come Jan. 27, the hallmarks of Southwest's open-seating policy — setting an alarm to secure a place in the boarding line, the A-B-C groups, the big stanchions marking off boarding order and the on-board scramble for a favorite seat — will be gone. That all will be replaced by eight boarding groups, based on seat selection, status and other factors. The most loyal and biggest spenders will get on first, but seat location will determine boarding position. Here's the order: There will be two queues. The airline didn't disclose prices for seat assignments as an add-on fee, which on rival airlines, can vary depending on route and demand. Access to some seats will depend on the type of fare, and Southwest will sell standard seats, preferred seats and extra-legroom seats. Southwest has been busy reconfiguring its Boeing planes to include extra-legroom seating. About 200 aircraft are complete, or about 25% of the fleet, a spokesman said. While those seats aren't on sale yet, the airline has been selling earlier boarding to customers before their flight, which would increase their chances of getting extra-legroom seats. Southwest customers have shown that sitting together is a priority, Shafer Modi told CNBC, while acknowledging that it will look different with the new boarding process. "I think that if families want that sense of control, they have the optionality to pick their seats through … our existing products that we're selling," she said. "We will try to do our best to make sure that families are seated together no matter how they buy a ticket."
Yahoo
an hour ago
- Yahoo
Bristol-Myers Squibb Company (BMY): All Or Nothing With A Breakthrough Drug, Says Jim Cramer
We recently published . Bristol-Myers Squibb Company (NYSE:BMY) is one of the stocks Jim Cramer recently discussed. Bristol-Myers Squibb Company (NYSE:BMY) is one of the largest and most well-known American pharmaceutical companies. It has long been one of Cramer's favorite stocks as the CNBC TV host has been nothing but full of optimism about its COBENFY schizophrenia drug. However, during this show, he changed his tone and pinned all hopes on COBENFY's success: '[Report about the two selling Eliquis at a discount] Yeah, I mean, mistakes I've made a few but, today I'm looking at Bristol, Bristol better come through with this. With this mental health, with this mental health drug that they bought, the schizophrenic drug. . . .I mean Bristol is uh, Bristol's bad. And I own it. I own it because of this schizophrenia drug. And I said yesterday to the club, they get this schizophrenia drug, I'm going with it. They don't get this schizophrenia drug, I've never heard of it. That's where I am. Never heard of Bristol-Myers.' A pharmacy shelves stocked with pharmaceutical drugs awaiting distribution. Previously, Cramer discussed Bristol-Myers Squibb Company (NYSE:BMY)'s 'faint pulse': 'Of course, some of the rally's nothing more than the left-behind stocks playing catch up. The drug stocks had a rare day in the sun. I wish I had something good to say about them. Maybe it's enough to say that Bristol Myers has a faint pulse, one that lasted until the end of the session.' While we acknowledge the potential of BMY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
CNBC
an hour ago
- CNBC
CoreWeave stock climbs after company announces $1.5 billion bond sale
CoreWeave stock rose more than 1% after the renter of artificial intelligence data centers said it plans to sell $1.5 billion worth of bonds. The company said in a release that the notes, due in 2031, will use the capital for general purposes, such as paying off debt. In May, the company announced a $2 billion debt offering plan that sent shares soaring 19%. At the time, CNBC confirmed that the debt was five times oversubscribed. Last week, shares rallied after the company announced a $6 billion AI data center project in Pennsylvania. CoreWeave, whose biggest clients include Nvidia and Microsoft, has more than tripled in share price since its March debut on the Nasdaq. In its IPO prospectus filing, CoreWeave said that it was "one of the largest private debt financings in history and signals the confidence that debt investors have in funding our company to build and scale the next generation AI cloud." Some investors have raised concerns about the company's debt and the sustainability of demand for its products. In May, CEO Michael Intrator defended CoreWeave's spending plans and said it is meeting major client "demand signals."
