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Tag Archives: profitable
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Jim Cramer says these two airline stocks are the most profitable
CNBC’s Jim Cramer on Monday offered two airline stocks that he believes investors should pick up for their portfolios.
“There’s always a bull market somewhere and right now it’s flying at 30,000 feet high. My favorites are the two most profitable, that’s [Delta Air Lines] and [Alaska Air Group]. Just remember to ring the register gradually on the way up, because remember, these are airlines. They tend to be a very boom and bust industry,” the “Mad Money” host said.
Shares of Delta fell 0.96% on Monday while Alaska stock slipped 0.19%.
Delta said earlier this month that it expects unit revenues to increase double digits in the second quarter compared to pre-pandemic, three years ago. The company also expects overall sales to recover up to 97% of 2019 levels
Chief executive Ed Bastian said on “Squawk Box” on the heels of the company’s latest quarterly results that the airline recorded its highest ever monthly sales in terms of bookings in March and that this trend is continuing into April.
“I’m still stunned,” Cramer said of Bastian’s comments.
Alaska set a sales record in March but trimmed its schedule 2% through the end of June due to a pilot shortage.
“Although they’re not one of the majors, it is extremely well-run, still, with a much higher mix of leisure travelers compared to business ones,” Cramer said.
“The only problem with this stock is that everybody knows Alaska Air’s one of the strongest players in the industry, which makes it harder for them to deliver an upside surprise. That’s why the stock is actually down a few bucks from where it was trading before the quarter,” he added.
Cramer said that even though there is a bull market in airlines, there are a few companies whose stocks investors should avoid.
“I’d steer clear of the companies involved in the bidding war for Spirit Airlines – that’s JetBlue, Frontier and Spirit itself,” he said.
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BP claims EV charging ‘on the cusp’ of being more profitable than gas
Oil giant BP claims use of its BP pulse electric vehicle chargers is “on the cusp” of being more profitable for the company than filling up an internal combustion-powered car with gas. Once that happens, it could mark a major turning point for EVs and “big oil”.
The business of EV charging – filling up a car with electrons rather than petroleum-based gas or diesel – has always been a loss leader for oil companies like Shell and BP, who are seemingly being dragged into the electric future kicking and screaming. That may be about to change, however, as BP’s latest numbers show that, on a margin basis, its UK-based “BP pulse” network of fast battery charging stations, is nearing the levels of profitability they see from filling up with petrol. And the division could be profitable on its own by 2025.
“If I think about a tank of fuel versus a fast charge, we are nearing a place where the business fundamentals on the fast charge are better than they are on the (fossil) fuel,” BP head of customers and products, Emma Delaney, told Reuters.
Delaney did not disclose precisely when BP expects EV charging profits to eclipse traditional fuel profits, but the company did report that its electricity sales for EV charging grew 45% from Q2 to Q3 of 2021, alone. “Overall, we see a huge opportunity in fast charging for consumers and businesses, as well as fleet services more generally,” explains Delaney. “That’s where we see the growth, and where we see the margins.”
BP sees fast growth for fast charging
The London-based company (BP = British Petroleum) plans to grow its EV charging business in the coming years from the current 11,000 stations to fully 70,000 charging points by 2030 – and, unlike rival energy company, Shell, who have their own EV charging scheme in play, BP will stay focused on fast DC charging (in the 50 – 150 kW range).
“We’ve made a choice to really go after high speed, on the go charging – rather than slow lamppost charging, for example,” Delaney said.
It’s worth noting that BP began investing in the Israel-based, fast-charging tech company StoreDot as far back as 2018. It remains to be seen whether the company’s planned fast-charging expansion will leverage new tech from that source.
Electrek’s Take
Up to now, the general consensus within “the EV bubble” has been that the big oil companies have been against electrification, as the proliferation of EVs seems to threaten one of their core business models. While that may be true in theory, if these companies are able to leverage their existing – and, frankly, highly visible footprint – in a way that not only advances the cause of electrification, but is also more a profitable business than selling gas in practice?
That’s game over for internal combustions.
Source | Images: BP, via Reuters.
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Billionaires tax would take aim at unrealized gains on assets, most profitable corporations
Rep. James E. Clyburn, D-S.C., on Democrats pushing for tax on billionaires to help fund spending Biden’s spending plan.
The broad strokes of the proposal announced by Sen. Ron Wyden, D-Ore., to tax the country’s billionaire class to help fund President Biden’s legislative agenda was laid out early Wednesday as a two-pronged strategy to take aim at the wealthiest individuals and corporations.
Reuters obtained the statement that said, under the proposal, about 700 of the country’s richest will be forced to pay unrealized gains from their assets. The proposal also calls for a 15% corporate minimum tax on the country’s most profitable corporations.
The tax would start being enforced in 2022. Those impacted would own over $1 billion in assets or pull in $100 million a year for three straight years.
Democrats have been working to muster enough votes to pass Biden’s “Build It Back Better” agenda, and believe that Americans would be willing to see the country’s richest, like Elon Musk and Jeff Bezos, pay more in taxes. Many billionaires have seen their fortunes significantly increase after the COVID-19 outbreak while many Americans are struggling.
U.S. Sens. Elizabeth Warren (D-MA) and Ron Wyden (D-OR) speak to reporters about a corporate minimum tax plan at the U.S. Capitol October 26, 2021 in Washington, DC. (Photo by Drew Angerer/Getty Images) (Getty / Getty Images)
Democrats have been trying to win the support of Sens. Joe Manchin and Kyrsten Sinema and the move seems like a step in the right direction. Manchin told reporters that he supported the new way to ensure the wealthy pay their “fair share.” Sinema has also endorsed the proposal for the minimum tax on the most profitable companies.
The business tax proposal is “a commonsense step toward ensuring that highly profitable corporations—which sometimes can avoid the current corporate tax rate—pay a reasonable minimum corporate tax on their profits,” Sinema said, according to the Wall Street Journal. The paper pointed out that the White House also backed the plan on Tuesday.
Wyden, the Senate Finance Committee chairman, said Tuesday that Americans are tired of seeing billionaires “paying little to no taxes for years on end.”
He later retweeted Sen. Elizabeth Warren who posted that the country could no longer “let billionaire corporations get away with paying almost nothing in taxes, while Americans are left holding the bag.”
Real estate mogul and self-made billionaire Jeff Greene comments on ‘poorly thought out’ tax proposal.
The Reuters report said the proposal would impose a 23.8% tax rate on these tradable assets “whether or not they have been sold.” The tax would “also impose levies on billionaire ownership stakes in businesses incorporated as pass-through entities and in trusts including real estate investment trusts,” the report said, citing the statement.
Democrats hope to generate at least $200 billion in new revenue over the next decade from the tax, which would include stocks as well as other assets like real estate. Individuals could claim deductions for annual losses in the value of their assets.
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Critics, including Republicans and tax groups such as the National Taxpayers Union, have slammed a tax on billionaires’ unrealized capital gains, arguing it would add more bureaucracy to the already bloated tax system and hurt business investors.
Fox News’ Megan Henney and the Associated Press contributed to this report