Home » Technology » Spirit Airlines Delays Aircraft Deliveries and Lays Off Pilots, Intel Unveils Gaudi 3 AI Chip: Stock Updates and More

Spirit Airlines Delays Aircraft Deliveries and Lays Off Pilots, Intel Unveils Gaudi 3 AI Chip: Stock Updates and More

On Monday, Spirit Airlines announced that the company will delay deliveries of new aircraft and lay off about 260 pilots in an attempt to increase liquidity. According to CNBC, it is expected that deferred deliveries of the Airbus planes will be able to increase the low-cost company’s liquidity by approximately 340 million dollars over the next two years. The pilot redundancies will take place in September.

On Tuesday, the share rose 4.1 percent, after rising 6.6 percent on Monday.

On Tuesday, the chip manufacturer Intel showed off its latest Gaudi 3 AI chip, which should be 50 percent stronger than the equivalent chip from competitor Nvidia. This happens at the same time as the power consumption is lower. The news sent the stock up 0.9 percent.

Another chipmaker, ARM Holdings, started the day rising close to 5 percent, before deflating. The share ended down 1.9 percent.

The vaccine manufacturer Moderna put on a nice 6.2 percent after that Reuters reported positive results in the early stages of the company’s new cancer treatment

Shipping

The product tanker Hafnia, which has also increased the quintuple on the Oslo Stock Exchange for just over two years, had its first trading day on the New York Stock Exchange on Tuesday. Ahead of this, a strengthening of the dividend policy was announced, against the background of the recent strong product tank market.

However, that was not enough to convince investors, and the stock ended down 5.4 percent on its first day of trading.

We also note that another shipping company in the BW group, the Oslo-listed gas shipping company BW LPG, on Monday announced plans to go public in the USA.

Arctic Securities was out on Tuesday with a very optimistic sector update for the tanker market, where it is expected that the rates for the large VLCC ships will “explode”. This is due to more barrels of oil on the market going forward, while fleet growth will be very low in the coming years.

However, there was little optimism to be found on the stock exchange. Both Frontline and DHT, which are both heavily exposed to large tanks, fell more than 1 percent on Tuesday. The Fredriksen company ended down 1.8 per cent, while DHT fell 1.2 per cent.

Euronav, which has been subpoenaed in the district court in Antwerp by FourWorld Capital Management on the basis of the major transaction with John Fredriksen and Frontline last October, ended down 0.8 percent

The dry cargo segment has been extremely strong in recent months, but now the party may soon be over. Golden Ocean, which could be hit hard if the La Niña weather pattern strikes, fell 0.5 percent. It is, however, up 0.4 percent from closing on Oslo Børs.

Another Norwegian player in dry cargo, Himalaya Shipping, fell 2.5 per cent, down 0.9 per cent from closing on the Oslo Stock Exchange.

Oil

Brent oil fell 1 percent on Tuesday to $89.49 a barrel. The US WTI oil fell 1.2 percent to 85.31 dollars a barrel. barrel.

Commodity trading giant Vitol predicts crude oil prices of between 80 and 100 dollars a barrel this year, lifted by strong demand growth, writes Bloomberg.

Of the oil producers, ConocoPhilips fell 0.2 percent, while ExxonMobil rose 0.3 percent. Occidental fell 0.2 percent, Chevron rose 0.5 percent and Schlumberger rose 0.2 percent

2024-04-09 20:02:05
#Mixed #Wall #Street #inflation #numbers #Hafnia #fell #percent #York #debut

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