Yahoo Finance Southwest Airlines stock recovers following FAA ground stop
Yahoo Finance Live’s Ines Ferre breaks down stock performance for Southwest Airlines, Bank of America, and Goldman Sachs.
Video transcript
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INES FERRE: As we wrap up the show, let's take a look at some trending tickers. Here are the biggest movers ahead of your lunch break. First up, shares in Southwest Airlines recovering some ground after slumping on an FAA nationwide ground stop. This has since been lifted. It had been issued on what it called equipment issues. The FAA says there is still a hold on flights into Dallas Love Field Airport. Data from FlightAware shows around 2,500 flights were delayed. That's around 30% of Southwest's schedule.
We're also keeping an eye out on the banks on the big earnings day. Shares of Bank of America and Goldman Sachs both lower in midday action. Bank of America's rise in profit was boosted largely by higher interest payments. The bank's net interest income jumping by 25%, matching reported performances seen at JPMorgan and Citi.
A different story though at Goldman Sachs. The bank posting an 18% fall in profit. Goldman's revenue is heavily reliant on Wall Street activities, unlike its more diversified rivals who enjoyed boosted income from fixed income trading. Chairman and CEO David Solomon called the first quarter a real life stress test, but did bring some optimism to the call saying he believes the worst of the bank crisis is over.
