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JetBlue Airways Now Expects 61% – 64% Decline In Q1 Revenue

Target launches Mondo Llama arts and crafts brand as crafting grows amid COVID pandemic

Target is making it easier to craft together as a family.

The Minneapolis-based retailer’s new store-owned arts and crafts brand, Mondo Llama, is now available online at Target.com, the chain’s mobile app and will roll out to stores nationwide by March 28, company officials shared exclusively with USA TODAY. 

Items range from paints, crayons and canvases to project boxes, craft supplies and drawing kits. Prices start at $1.75, and most items cost less than $25.

Target began developing its first crafting brand in more than a decade before the coronavirus pandemic as arts and crafts have grown in popularity in recent years, Julie Guggemos, the company’s senior vice president and chief design officer, told USA TODAY.

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“With the pandemic we saw great increase with families, doing crafting together,” Guggemos said. “So the timing of the brand couldn’t be more perfect. … People are using Pinterest as inspiration and getting the creative bug. We’re finding that people of all levels of creative ability want to get in on the fun.”

Elon Musk has officially been made the 'Technoking of Tesla'

  • Elon Musk will retain his position as chief executive officer, Tesla said.
  • Zach Kirkhorn, Tesla's chief financial officer, has also been made "Master of Coin."

Tesla has officially given CEO Elon Musk the title of "Technoking of Tesla," in a new regulatory filing on Monday.

Musk will retain his position as chief executive officer, Tesla said. Zach Kirkhorn, Tesla's chief financial officer, has also been given a new title: "Master of Coin."

In a filing with the Securities and Exchange Commission on Monday, the car company said: "Effective as of March 15, 2021, the titles of Elon Musk and Zach Kirkhorn and Master of Coin, respectively."

It's unclear what has prompted the new titles. Last month, the autos firm announced it had bought $1.5 billion worth of bitcoin.

Oil Prices Flat To Higher On Economic Optimism

Oil prices were flat to slightly higher on Monday after new economic data out of China indicated the country’s economy is continuing to recover from the impact of the coronavirus.

Brent crude for May settlement inched up 0.1 percent to $69.30 a barrel, while U.S. West Texas Intermediate crude futures for April delivery were up 0.2 percent at $65.75 a barrel.

China’s industrial output and retail sales surged in the first two months of the year, boosting the energy demand outlook at the world’s largest oil importer.

Industrial production in China jumped 35.1 percent year-on-year in the period including January and February – beating forecasts for an increase of 30 percent.

Retail sales spiked an annual 33.8 percent to exceed expectations while weaker-than-expected investment growth and rise in unemployment disappointed markets.

Further supporting prices, Reuters reported citing sources that top oil exporter Saudi Arabia has cut the supply of April-loading crude to at least four north Asian buyers by up to 15 percent.

RumbleOn To Combine With RideNow – Quick Facts

RumbleOn, Inc. (RMBL) and powersports dealer RideNow have entered into a definitive merger/equity purchase agreement. RumbleOn will combine with up to 46 entities operating under the RideNow brand for a total consideration of up to $575.4 million, consisting of $400.4 million of cash and approximately 5.8 million shares of RumbleOn class B stock. RideNow has more than 40 full-service retail locations in 11 states across the country.

For 2021, assuming a combination as of January 1, 2021, total revenue is anticipated to be in the range of $1.45-$1.55 billion and adjusted EBITDA in the range of $100.0-$110.0 million.

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JetBlue Airways Now Expects 61% – 64% Decline In Q1 Revenue

JetBlue Airways Corp. (JBLU) said it now expects revenue to decline between 61% and 64% during the first quarter of 2021, year over two. The range compared to the company’s prior planning assumption of a revenue decline between 65% to 70%, year over two.

JetBlue continues to believe demand and revenue recovery will be non-linear and cannot reliably predict changes to revenue due to additional COVID-19 related disruptions or other factors.

JetBlue said that, although booking trends remain choppy, in recent weeks the company has experienced an improvement in bookings by leisure and visiting friends and relatives customers.

The company expects its flown capacity for the first quarter of 2021 to decrease about 41% versus the first quarter of 2019, compared to the company’s previous planning assumption of a decrease of at least 40%.

The company continues to expect total operating expenses for the first quarter of 2021 to decrease 25% versus the first quarter of 2019.