Here’s a look at some of the companies the Yahoo Finance team will be watching for you today.
Rising fuel prices and a recent accident are eating into Southwest’s (LUV) bottom line. The company just reported a beat on earnings by just a penny but it fell short on revenue. Southwest says April’s accident, where an engine blade snapped off and led to the death of a passenger, cut revenue by $100M.
We have some M&A action in the grocery sector. United Natural Foods (UNFI) is buying SuperValu (SVU) for $2.9B in cash. The deal includes debt, and they’re looking to close the deal later this year. United Natural Foods focuses on healthy food options which it hopes to expand through SuperValu’s network of 3,000 grocery stores.
Looks like this Bud isn’t for you. Anheuser Busch InBev (BUD) says US sales slid last quarter as more Americans turn away from Budweiser and Bud Light. US revenues fell 3.1%. The company’s CFO says there’s no short term fix, but they are trying to roll-out more upscale offerings to compete with craft brews.
Google’s (GOOGL) Youtube is taking action against the right wing conspiracy theorist Alex Jones and his site Infowars. YouTube has deleted four of Jones’ videos and issued a formal strike against him for breaking the platform’s policies on hate speech. Jones’ 2.4M followers will have to wait at least 90 days for him to be allowed to live stream on YouTube again.
Chinese e-commerce startup is hitting the markets today. Pinduoduo starts trading this morning on the Nasdaq, under the ticker PDD. It’s been called China’s Groupon, and estimates say it will raise upwards of $1.6B with its IPO. Tencent is one of the company’s biggest backers.