Tag: rebound

Expedia signals May rebound as cancellations stabilize

By Sanjana Shivdas

(Reuters) – Online travel booking company Expedia Group Inc <EXPE.O> on Wednesday pointed to demand recovering in May as cancellation rates stabilize, overshadowing a bigger-than-expected quarterly loss and sending its shares up nearly 4%.

U.S. airlines have signaled slower ticket cancellations and an improvement in bookings on some routes, as countries ease lockdowns imposed to curb the spread of the coronavirus that had crippled the global travel industry.

“What we’ve seen is green shoots in the areas you would expect, places where movement has become possible, where people can now start to think about their summer holiday,”

Read more

Stocks rebound Monday as Moderna’s coronavirus vaccine trial boosts optimism for economy

Stocks rebounded Monday from losses last week on optimism that the U.S. economy might start to recover from the coronavirus pandemic after drugmaker Moderna released promising early results for a vaccine. 

The Dow Jones industrial average soared 912 points to close at 24,597. The S&P 500 jumped 3.2%, erasing its losses from last week.

Shares of Moderna surged 20% after the biotechnology company reported encouraging phase one results for a potential COVID-19 vaccine in a small early stage clinical trial. It showed the production of antibodies to the virus in all of its 45 trial participants, Moderna said, a positive

Read more