Jetting off with high flying airline stocks

UK based Easyjet yesterday reported a 7% rise in passengers and a healthy increase in profits, leading to an increase in forecasts for the next two quarters of the year. American Airlines is amongst the companies also reporting earnings today, which could further boost the airline sector's recent success, as many companies who were badly affected by the covid-19 lockdowns start to recoup their losses from ongoing passenger demand. 

Netflix’s password sharing ban works (damnit!)

At the beginning of the year Netflix announced plans for a controversial ban on password sharing. Bad for all of us free riding off our ex’s aunts netflix account, great for the shareholders who want to see higher profits. They announced yesterday that following the password sharing ban, subscribers joined in droves, as clearly we are all begrudgingly ready to pay once booted of that distant relatives account. They also announced a reduction in content production costs, owing to the ongoing writers and actors strikes in Hollywood. The share price remained moderately positive on the back of the profits news. 

Electric vehicle’s slow profits disappoints investors

Ford kicked off the week by announcing a further reduction to the price in their electric vehicles, desperately attempting to make the standard models more attainable for the regular joes. Tesla followed up with its earnings announcements, which does indeed show that the reduction in price has led to a boost in car sales, much like Ford. However, profit margins have dropped, which is less than pleasing to investors and caused the share price to drop. 

‍

Sources: IG, AJ Bell, Nasdaq, Yahoo Finance, Financial Times