After canceling about 1,000 flights worldwide due to a computer outage, Delta Air Lines has canceled an additional 680 flights as Delta is struggling to get its system up and running again. Monitor the development of this event and more using crowd-intelligence on Sentifi.
1/ Delta Air Lines: Systems slowly recover
The airline has canceled a total of nearly 1,500 flights due to a computer outage, from which its computer systems are still slowly recovering. Checking in, boarding, dispatching planes are all being affected. The outage was caused by an equipment failure at Delta’s headquarters in Atlanta, which caused power loss. The key systems and equipment, which were supposed to switch over to backups as designed, did not do so.
2/ Yelp Inc: Revenue grows on customer growth
The second quarter has been unexpectedly good to Yelp as it posted net profit of $449,000 compared to a net loss of $1.3 million just a year ago. It helped the company increase its full-year revenue forecast and boosted its shares more than 8 percent. The main factor for the growth is more investments in sales and marketing have translated to more businesses and consumers signing up for Yelp’s services.
3/ Munich Re: Reports better-than-expected Q2 profit
Eight estimates, compiled by Bloomberg, predicted Munich Re would make €479 million in net income in the second quarter. The company smashed that expectation with a net income of €974 million, despite being a decline from €1.1 billion a year earlier. The company was able to book higher claims from natural disasters and restructuring charges, enabling it to confirm the full-year earnings target of €2.3 billion.
4/ Press Ganey Holdings: To be acquired by EQT for $2 billion
Healthcare consulting firm Press Ganey confirmed it will be acquired by private equity firm EQT for $2 billion, or $40.50 a share, lower than Press Ganey’s market value of $2.35 billion. Being the first U.S. acquisition by Stockholm-based EQT, it is expected to be close by the fourth quarter of 2016.
5/ William Hill: Shares rose 7.3 percent after rivals submitted a bid
Rank Group and 888 Holdings have submitted a $4.7 billion takeover bid for William Hill, which catapulted its shares by 7.3 percent in London. Analysts say the deal would turn William Hill into Britain’s biggest bookmaker.
6/ Twilio Inc: Impresses with revenue of $64.5 million in first earnings report
The cloud communications company, which went public in June, posted its first earnings report that impressed Wall Street analysts. It registered $64.5 million in revenue and a non-GAAP earnings per share loss of $0.08. The expectation from analysts was $58.22 million revenue with an EPS loss of $0.14. The company’s shares closed up 2.43 percent on Tuesday, and increased 0.35 percent in after-hours trading.
7/ Olacabs: Becomes Uber’s target
After losing to Didi in China, Uber shifts its focus to the $12 billion market of India, where Olacabs controls half of the taxi market. Ola is one of Didi’s allies in an anti-Uber group; in fact, Didi and SoftBank last year invested $30 million in Ola. It remains unclear how Didi will help Ola fight off Uber.
8/ Standard Life: Earnings report points to growth
The firm saw its operating profits before tax rise 18 percent to £341 million in the first half of the year, thanks to diversification in challenging markets. Its underlying profits also increased 14 percent to £176 million.
9/ Norwegian Cruise Line: Cuts forecast on Brexit
The company has decided to cut its forecast for profit this year and next as it is assessing the effects of terrorism, the Zika virus and Brexit. It listed four reasons for the cut: lower demand for vacations from the U.S. to Europe; a weaker British pound following the U.K. vote to leave the European Union; too much capacity for Miami-based Caribbean tours; and an effort to avoid discounting fares.
10/ Torstar: Lays off more than 50 people
The continued pressure from the declining print advertising revenue has forced Torstar, which owns the Toronto Star, to lay off more than 50 people from its newsroom and tablet edition. Toronta Star will lose 19 full-time newsroom members. Canada’s print media industry has been in distress lately, prompting some executives to call for the intervention from the federal government by offering subsidies.
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