Airline stocks tumble as spread of coronavirus triggers travel bans
Shares of airlines took a tumble Monday, as the rapid spread of the coronavirus out of China triggered travel bans, with particular weakness in carriers with a global footprint. American Airlines Group Inc.’s stock AAL, -5.46% sank 7.1% to pace the losers in both the Dow Jones Transportation Average DJT, -1.87% and the S&P 500 SPX, -1.43%. The Dow transports were also led lower by shares of United Airlines Holdings Inc. UAL, -4.49%, down 5.1%, and Delta Air Lines Inc. DAL, -4.22%, which fell 4.6%. Elsewhere, shares of Hawaiian Air parent Hawaiian Holdings Inc. HA, -5.03% lost 4.8%, JetBlue Airways Corp. JBLU, -3.29% gave up 2.8%, Southwest Airlines Co. LUV, -0.76% slipped 1.5% and Alaska Air Group Inc. ALK, -2.32% dropped 2.5%. The Dow transports fell 232 points, or 2.1%, while the NYSE Arca Airline Index XAL, -3.67% slid 3.3% and the S&P 500 SPX, -1.43% was down 1.5%.
European Economics Preview: UK Labor Market Data Due
The labor market statistics from the UK and economic confidence from Germany are due on Tuesday, headlining a light day for the European economic news.
At 3.00 am ET, Swiss M3 money supply data is due from the Swiss National Bank.
At 4.00 am ET, Poland’s averages gross wages data is due. Economists forecast average gross wages to rise 6.1 percent on year in December, faster than the 5.3 percent rise in November.
At 4.30 am ET, the Office for National Statistics is set to release UK unemployment data. The jobless rate is forecast to remain unchanged at 3.8 percent in three months to November.
At 5.00 am ET, Germany’s ZEW economic confidence survey results are due. The economic sentiment index is forecast to rise to 15.0 in January from 10.7 in December.
WEC Energy To Acquire 80% Ownership In Blooming Grove Wind Farm – Quick Facts
WEC Energy Group (WEC) announced Monday that it has invested a total of $345 million to acquire an 80 percent ownership interest in Blooming Grove Wind Farm. The project is being developed in McLean County, Illinois by Invenergy, a leading developer and operator of sustainable energy solutions.
The Blooming Grove site will consist of 94 GE wind turbines with a combined capacity of 250 megawatts. Commercial operation at the Blooming Grove Wind Farm is expected to begin by the end of 2020.
The wind farm has long-term offtake agreements for all the energy produced with affiliates of two investment grade multinational companies.
This is the latest in a series of investments by WEC that fit exceptionally well with its strategy of deploying capital in renewable energy assets. The transaction is subject to receiving all necessary regulatory approvals.
Klinic still without water after Friday water main break
A well-known community health centre in Winnipeg has been temporarily closed due to lingering issues from a water main break Friday afternoon.
Klinic Community Health Centre, located between Arlington Street and Home Street on Portage Avenue, said it will be cancelling services on Monday morning while looking for temporary water solutions.
While in-person appointments at the centre are being cancelled, Klinic’s crisis support line, (204) 786-8686, remains open 24/7.
Companies in Zhejiang cannot resume work before February 9 due to virus fight: government
SHANGHAI (Reuters) – China’s eastern Zhejiang province said on Monday companies in the province were not allowed to resume operations before Feb. 9, to help prevent the spread of a coronavirus that broke out in Wuhan at the end of 2019.
The measure is applicable to government and private companies but is not applicable to utilities and some other firms such as medical equipment companies and pharmaceutical companies, according to a statement on social media Weibo by the Zhejiang government.
Comcast Buys Dublin-Based Blueface To Bolster Fast Growing Cable Biz Unit
Comcast has completed an acquisition of Blueface – a Dublin, Ireland-based global tech provider, as it continues to expand its business service sector and its international footprint.
Blueface’s proprietary and fully customizable cloud voice communications platform will become part of Comcast Business’s portfolio. That division, which helps provide organizations with the ability to communicate globally, is one of the media and entertainment giant’s fastest growing, if not its sexiest, and a key driver of earnings and cash.
Terms of the acquisition were not disclosed.
The addition of Blueface’s so-called Unified Communications solution to the Comcast Business portfolio, which is part of Comcast Cable, “will provide customers access to industry-leading audio and video tools to connect employees across devices and locations,” said Bill Stemper, President, Comcast Business.
Blueface technology helps companies connect directly with customers to boost productivity and strengthen relationships. Comcast Business offers Ethernet, Internet, WiFi, Voice, TV and Managed Enterprise Solutions and is the nation’s largest cable provider to small and mid-size businesses.
ISS recommends against Instructure's proposed sale to Thoma Bravo: note
BOSTON (Reuters) – Proxy advisory firm Institutional Shareholder Services Inc. (ISS) recommends that Instructure (INST.N) shareholders vote against the company’s planned sale to private equity firm Thoma Bravo, ISS said in a note on Monday .
“Given legitimate concerns regarding the conduct of the process, a seemingly uncompelling valuation, and a strong standalone case, a vote AGAINST the transaction is warranted under the proposed terms,” the ISS note said. A copy was seen by Reuters on Monday.