Bloomberg News and Videos — Page 188

Nasdaq President Nelson Griggs says the record-breaking SK Hynix ADR listing is already attracting looks from more foreign companies that may consider US listings. He says JPMorgan Chase struck the right balance on the SK Hynix pricing. Griggs speaks to Bloomberg's Ed Ludlow in New York at the Nasdaq.

Delta Air Lines Inc. reaffirmed its full-year profit guidance and said strong demand for premium, corporate and international travel helped offset the highest quarterly fuel expense in its history. The Atlanta-based airline earned an adjusted $1.56 a share in the second quarter, it said on Friday, topping analysts' estimates of $1.51. Revenue rose 14% from a year earlier, with capacity increasing just 1%. The shares have gained 28% so far this year, partly on optimism that the airline's focus on premium travel will shield it from price sensitivity at the lower end of the traveler spectrum. For more, we speak with George Ferguson, Senior Aerospace Analyst for Bloomberg Intelligence.

SK Hynix Inc.'s American depositary receipts surged above their offering price, after the South Korean memory chipmaker raised $26.5 billion in the largest-ever US listing by a foreign company. The ADRs opened at $170 each on Friday in New York, versus an offering price of $149 apiece. The successful mega-listing brushed aside concern over recent volatility among chipmakers, demonstrating investors have plenty of appetite for direct exposure to SK Hynix's dominant position in high-bandwidth memory for artificial intelligence computing. The ADRs are trading at a premium of about 17% over the closing price of the Seoul-listed common stock, due in part to restrictions on exchanging the South Korean stock for the US instruments. We get reaction from Anthony Hughes, Bloomberg News US ECM Reporter.

SK Hynix's US debut is off to a strong start, with its ADRs indicated to open above the offering price. Di Zhou, portfolio manager at Thornburg Investment Management, says, "We're currently in a memory supercycle. Fundamentals are very strong, and SK Hynix is one of the highest-quality pure-play memory companies globally." She speaks on Bloomberg Open Interest.

Delta's earnings beat and it reaffirmed its full-year profit guidance as travel demand withstands higher prices. Sheila Kahyaoglu, Senior Equity Research Analyst at Jefferies, discusses the outlook for the airline industry.

Chey Tae-won, chairman of SK Hynix parent SK Group, discusses his plan to invest more money in the US. He speaks with Ed Ludlow on "Bloomberg Tech."

Chey Tae-won, chairman of SK Hynix parent SK Group, says customers have been telling him they want the company to expand more. He speaks with Ed Ludlow on "Bloomberg Tech."

The US stock market's rally to new highs has been propelled by so few stocks that it's reminding some on Wall Street of the runup to the dot-com bubble. George Noble, Managing Partner of Noble Capital Advisors, discusses the AI trade and how he believes the coming bust would be much worse than the dot-com bubble fallout.

Artificial intelligence could reshape the jobs of nearly 80 million people across Southeast Asia, but there is little sign it has led to large-scale employment cuts, according to the International Labour Organization. The ILO urged governments to strengthen AI governance and better integrate AI policies through a human-centered approach to help workers and businesses adapt. Pelgo CEO Chieh Huang discusses how AI is impacting the labor market and how it could serve as a tool for displaced workers rather than a job eliminator.

On this episode of Stock Movers: - Delta (DAL) shares are higher after it reaffirmed its full-year profit guidance, citing strong demand for premium, corporate and international travel that helped offset the highest quarterly fuel expense in its history. The airline earned an adjusted $1.56 a share in the second quarter, topping analysts' estimates, with revenue rising 14% from a year earlier and capacity increasing just 1%. - EasyJet (EZJ) shares are moving on news it received a fresh offer from Apollo Global Management for 715 pence a share, beating a rival proposal from Castlelake. EasyJet is "no longer minded to recommend the Castlelake proposal" and would be minded to recommend Apollo's bid to its shareholders, given that Apollo's £5.7 billion bid is superior to Castlelake's £5.5 billion offer. - WD-40 (WDFC) shares jumped after the lubricant spray maker boosted its net sales forecast for the full year.