A survey of North American equities heading in both directions
) jumped higher on Monday after it said it expects 2023 core profit towards the higher range of its previous forecast, after the carrier beat third-quarter profit estimates, benefiting from strong demand for international travel.
“Our demonstrated adaptability, combined with a stable demand environment, give us every confidence for the rest of the year and into 2024 despite the inevitable headwinds to which our global industry is prone,” CEO Michael Rousseau said. In a research note, Citi analyst Stephen Trent said: “Overall, the results look very encouraging, as the carrier delivered an impressive beat, while also reiterating full-year EBITDA guidance at the high end of the range, in spite of higher fuel and costs. Air Canada’s FCF generation also remained positive. Assuming risk-neutral market conditions, these results could support Buy-rated Air Canada’s shares on Monday morning.
McDonald’s size and scale have helped keep its meals relatively more affordable even after the industry-wide hike in prices last year, helping counter the trend of inflation-hit consumers eating more at home and a broader decline in footfall. “The value, the affordability, and just the consistency that the McDonald’s brand can bring to the consumer” would further fuel sales momentum in the rest of the year, Long added.
Details of the agreement with GM, which was the last holdout of the Detroit Three, were not immediately available.) in what experts say stand as significant victories for auto laborers after years of stagnant wages and painful concessions made by the union following the 2008 financial crisis.
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