Delta Air Lines Earnings Slip as August Technology Outage Cut $150 Million off Pre-Tax Income

Delta Air Lines Earnings Slip as August Technology Outage Cut $150 Million off Pre-Tax Income

Delta Air Lines (DAL), the biggest carrier in the US by market value, said a technology outage and recovery period for four days in August dented pre-tax income by $150 million. Third quarter adjusted earnings per share was $1.70 down from last year’s $1.74 but beating analysts’ expectations for $1.65. Revenue fell 5.6% to $10.48 billion, just shy of the Wall Street projection for $10.5 billion. Delta’s system-wide outage led […]

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Northrop Grumman’s Park Air Systems Wins Contract to Provide Air Traffic Control Systems

Northrop Grumman’s Park Air Systems Wins Contract to Provide Air Traffic Control Systems

Northrop Grumman (NOC), a global security company, said Thursday that its UK- based subsidiary, Park Air Systems, has been awarded a contract to supply air traffic control communication systems equipment in a nationwide upgrade across South Africa. The contract will utilize the Park Air T6 Radio, with more than 550 VHF units deployed to 50 sites. Other system elements will include Park Air’s remote control and monitoring system, multi-access remote […]

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Wells Fargo CEO Says Board Able to Hold Leadership Responsible For Deposit Scandal: Outlines Actions

Wells Fargo CEO Says Board Able to Hold Leadership Responsible For Deposit Scandal: Outlines Actions

Wells Fargo & Company (WFC) Chairman and CEO John Stumpf said the bank is taking action to address wrongful sales practices and the board has the tools to hold him and other senior leadership responsible. Testifying before the U.S. Senate Banking Committee Stumpf said that the bank never directed team members to provide products and services to clients that they did not need or want. “I accept full responsibility for […]

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Energy Shares Chart Path Lower as US Stocks Retreat

Energy Shares Chart Path Lower as US Stocks Retreat

Stocks in the US swung back into sell mode on Tuesday, with energy stocks leading declines among all 10 of the Standard & Poor’s 500 sectors as crude prices fell. Investors put pressure on equities once more ahead of next week’s pivotal Federal Open Market Committee meeting, which is preceded this week by key data on inflation, retail sales and manufacturing. The probability that interest rates will increase this month […]

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