Hey Snackers,
A 99-year-old British WWII vet set a goal to raise $1.2K for the National Health Service by his 100th birthday (April 30) — he's now raised over $6M by walking daily laps of his garden.
Stocks dipped on weak bank earnings and some concerning econ data: Retail sales plummeted a record 8.7% last month (clothing/accessories alone fell over 50%), while NY's manufacturing activity plunged to an all-time low.
Don't judge an iPhone by its cover... Remember iPhone SE? It's that little rectangle which you could actually operate one-handedly without spraining a finger. Apple released it in 2016, then stopped selling it in 2018. Now, it's shockingly resurrecting iPhone SE for 2020, starting at the (relatively) lower price of $399.
What interested us most was the timing of this launch... Given the COVID-19 crisis, this might not seem like the best time to ship a new product. Apple thinks it's a great time:
Is Apple cannibalizing itself?... Cannibalization occurs when a new product is so irresistible it steals sales from your other (often higher-priced) products. Tesla's Model 3 stole sales from its Model S. But Apple probably did a lot of research on this risk and decided that:
The "B" word has been thrown around a lot... But now airlines are finally getting their Big B: a $25B bailout from the US government. 10 airlines — including Delta, United, and JetBlue — will share the $25B to pay their hundreds of thousands of employees. Here's what this bailout looks like:
Many (or all) airlines would likely go bankrupt... Without this bailout, that is. That's why it was a key part of the $2.2T stimulus package. With near-zero travel demand and high fixed expenses, airlines are quickly burning through the small cash cushions they have:
It's not necessarily bailout or bust... Even when airlines go bankrupt (no bailout), they can bounce back — 66 American airlines have gone bankrupt since 2000, including United Airlines in 2002 and Delta in 2005. But bankruptcy is a big hit to investors, since the stocks usually go to zero. If airline employees lost their jobs, the government would have to pay unemployment benefits — so it's shelling out $$$ either way.
Disclosure: Authors of this Snacks own shares of Apple, Blackstone, and Delta
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