Delta Air Lines, Inc. (DAL) Agrees to $8.1 Million Settlement of Federal COVID-19 Fund Misuse Case
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On July 16, 2025, it was announced by the U.S. Justice Department that Delta Air Lines, Inc. (NYSE:DAL) misused federal COVID-19 relief funds, as a result of which the company will pay $8.1 million in a settlement.
The Payroll Support Program was created under the 2020 CARES Act to support airlines with the retention of workers during the pandemic, ensuring that the airlines could resume operations once the pandemic eases. The state claims that Delta Air Lines, Inc. (NYSE:DAL) violated the program's terms by exceeding compensation limits for some executives in March 2020 and April 2023.
However, Delta Air Lines, Inc. (NYSE:DAL) has denied the claims, labeling the whole issue as a 'technical disagreement.' Thus, to avoid costly litigation, the company has agreed to the $8.1 million settlement.
Delta Air Lines, Inc. (NYSE:DAL), operating in the U.S. and internationally, offers scheduled air transportation services for passengers and cargo. It is on the list of cheap transportation stocks.
While we acknowledge the potential of DAL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: Billionaire Kerr Neilson's 10 Stock Picks with Huge Upside Potential and .
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Business Wire
a minute ago
- Business Wire
Dr. Reddy's Q1FY26 Financial Results
HYDERABAD, India--(BUSINESS WIRE)--Dr. Reddy's Laboratories Ltd. (BSE: 500124 | NSE: DRREDDY | NYSE: RDY | NSEIFSC: DRREDDY) today announced its consolidated financial results for the quarter ended June 30, 2025. The information mentioned in this release is based on consolidated financial statements under International Financial Reporting Standards (IFRS). Q1 FY26 Revenues ₹ 85,452 Mn [Up: 11% YoY; Flat QoQ] Gross Margin 56.9% [Q1FY25: 60.4%; Q4FY25: 55.6%] SG&A Expenses ₹ 25,647 Mn [Up: 13% YoY; 7% QoQ] R&D Expenses ₹ 6,244 Mn [7.3% of Revenues] EBITDA ₹ 22,784 Mn [26.7% of Revenues] Profit before Tax ₹ 19,047 Mn [Up: 1% YoY; Down 5% QoQ] Profit after Tax attributable to Equity Holders ₹ 14,178 Mn [Up: 2% YoY; Down 11% QoQ Expand Commenting on the results, Co-Chairman & MD, G V Prasad said: 'We delivered double-digit growth this quarter over the same period last year, reflecting our strength in branded markets and positive momentum in the Nicotine Replacement Therapy portfolio. The pricing pressure on Lenalidomide is expected to intensify in the U.S. generics market. We remain focused on strengthening our base business by delivery of our pipeline assets, improving overall productivity and business development.' All amounts in millions, except EPS All US dollar amounts based on convenience translation rate of 1 USD = ₹ 85.74 Expand Dr. Reddy's Laboratories Limited & Subsidiaries Revenue Mix by Segment for the quarter Particulars Q1FY26 Q1FY25 YoY Gr % Q4FY25 QoQ Gr% (₹) (₹) (₹) Global Generics 75,620 68,858 10 75,365 0 North America 34,123 38,462 (11) 35,586 (4) Europe 12,744 5,265 142^ 12,750 0 India 14,711 13,252 11 13,047 13 Emerging Markets 14,042 11,878 18 13,981 0 Pharmaceutical Services and Active Ingredients (PSAI) 8,181 7,657 7 9,563 (14) Others 1,651 212 678 132 1149 Total 85,452 76,727 11 85,060 0 ^Excluding Consumer healthcare (NRT) sales; YoY revenue growth is at 15% Expand Consolidated Income Statement for the quarter Particulars Q1FY26 Q1FY25 YoY Gr % Q4FY25 QoQ Gr% ($) (₹) ($) (₹) ($) (₹) Revenues 997 85,452 895 76,727 11 992 85,060 0 Cost of Revenues 429 36,825 354 30,383 21 441 37,797 (3) Gross Profit 567 48,627 541 46,344 5 551 47,263 3 % of Revenues 56.9% 60.4% 55.6% Selling, General & Administrative Expenses 299 25,647 265 22,691 13 281 24,055 7 % of Revenues 30.0% 29.6% 28.3% Research & Development Expenses 73 6,244 72 6,193 1 85 7,258 (14) % of Revenues 7.3% 8.1% 8.5% Impairment of Non-Current Assets, net - - 0 5 (160) 9 768 (100) Other (Income)/Expense, net (9) (739) (5) (470) 57 (29) (2,465) (70) Results from Operating Activities 204 17,475 209 17,925 (2) 206 17,647 (1) Finance (Income)/Expense, net (18) (1,570) (10) (837) 88 (27) (2,352) (33) Share of Profit of Equity Investees, net of tax (0) (2) (1) (59) (98) (1) (55) (98) Profit before Income Tax 222 19,047 220 18,821 1 234 20,054 (5) % of Revenues 22.3% 24.5% 23.6% Income Tax Expense 58 4,951 57 4,901 1 49 4,181 18 Profit for the Period 164 14,096 162 13,920 1 185 15,873 (11) % of Revenues 16.5% 18.1% 18.7% Attributable to Equity holders of the Parent Co. 165 14,178 162 13,920 2 186 15,939 (11) Attributable to Non-controlling interests (1) (82) - - - (1) (66) 24 Diluted Earnings per Share (EPS) 0.20 17.02 0.19^ 16.69^ 2 0.22 19.11 (11) ^Historical numbers re-casted basis the increased number of shares post share split. Expand Key Balance Sheet Items Particulars As on 30 th Jun 2025 As on 31 st Mar 2025 As on 30 th Jun 2024 ($) (₹) ($) (₹) ($) (₹) Cash and Cash Equivalents and Other Investments 853 73,169 797 68,299 1,115 95,599 Trade Receivables 1,110 95,137 1,055 90,420 946 81,088 Inventories 882 75,600 829 71,085 800 68,568 Property, Plant, and Equipment 1,199 1,02,784 1,140 97,761 943 80,813 Goodwill and Other Intangible Assets 1,255 1,07,572 1,267 1,08,613 483 41,374 Loans and Borrowings (Current & Non-Current) 567 48,644 545 46,766 358 30,675 Trade Payables 437 37,457 414 35,523 398 34,109 Equity 4,126 3,53,755 3,932 3,37,166 3,436 2,94,628 Expand Key Business Highlights for Q1FY26 Expanded partnership with Alvotech to co-develop, manufacture and co-commercialize pembrolizumab, a biosimilar candidate to Keytruda ®. Expanded collaboration with Sanofi to launch Beyfortus TM (Nirsevimab), a novel drug for preventing Respiratory Syncytial Virus (RSV) in India. Launched Sensimune in India, an immunotherapy product for house dust mite-induced allergies, in partnership with ALK-Abelló. ESG Highlights and other updates for Q1FY26 Improved rating by Carbon Disclosure Project (CDP) to 'A' in the Climate category, positioning us among the top 2% of the global companies assessed. We upheld our leadership status in the Water and Supplier Engagement categories. Received a Form 483 with two observations for Middleburgh API facility in New York. The USFDA has classified the inspection outcome as 'Voluntary Action Indicated (VAI)'. Received a Form 483 with two observations following GMP inspection conducted at CTO-5, our API facility in Miryalaguda, Telangana. All observations have been addressed and responded to within the stipulated timelines. Revenue Analysis Q1FY26 consolidated revenues stood at ₹85.5 billion, YoY growth of 11% and flat QoQ. Growth during the quarter was broad-based, aided by contributions from the acquired Consumer Healthcare portfolio in Nicotine Replacement Therapy ('NRT') and sustained performance in our branded markets. Global Generics (GG) Q1FY26 revenues at ₹75.6 billion, YoY growth of 10% and flat QoQ. North America Q1FY26 revenues at ₹34.1 billion, YoY decline of 11% and QoQ decline of 4%. The decline was primarily due to increased price erosion in certain key products including Lenalidomide. During the quarter, we launched five new products in the U.S. We filed one new Abbreviated New Drug Application (ANDA) with the USFDA during the quarter. Filings pending approval from USFDA - 73 includes: 70 ANDAs (43 are Paragraph IV applications, and 22 may have a 'First to File' status and 3 New Drug Applications (NDAs) filed under Section 505(b)(2) Europe Q1FY26 revenues at ₹12.7 billion, YoY growth of 142% and flat QoQ growth. This includes revenues from the acquired NRT business. NRT at ₹6.7 billion, QoQ growth of 12%. Germany at ₹3.2 billion, YoY growth of 13% and QoQ decline of 11%. UK at ₹1.7 billion, YoY growth of 10% and QoQ decline of 20%. Rest of Europe at ₹1.2 billion, YoY growth of 30% and QoQ growth of 9%. The growth in Europe was largely driven by revenues from the acquired NRT portfolio and incremental contributions from new product launches though partly offset by price erosion. QoQ performance remained stable as the impact of price erosion was balanced by gains from forex and increased volumes. During the quarter, we launched 13 new products in the region. India Q1FY26 revenues at ₹14.7 billion, YoY growth of 11% and QoQ growth of 13%. Growth for the quarter was driven by introduction of new products, price increases and commercial execution. As per IQVIA, our IPM rank was maintained at 10. During the quarter, we launched five new brands. Includes two Innovative assets Beyfortus (RSV Vaccine) & Sensimmune (Acarizex Slit) Emerging Markets Q1FY26 revenues at ₹14.0 billion, YoY growth of 18% and flat QoQ. YoY growth was largely driven by increased volumes of existing products, gains from new launches across multiple countries and favorable foreign exchange. QoQ performance remained stable as the gains from new product launches and favourable prices was largely offset by softer volume growth. Revenues from Russia at ₹7.1 billion, YoY growth of 28% and QoQ growth of 8%. YoY growth was due to higher volumes of existing products, new product introductions and favorable forex. QoQ gains reflect favourable forex, improved pricing and higher sales volumes. Revenues from other Commonwealth of Independent States (CIS) countries and Romania at ₹2.0 billion, YoY growth of 2% and QoQ decline of 20%. While YoY growth was supported by new product launches, whereas QoQ decline was due to lower volumes. Revenues from Rest of World (RoW) territories at ₹5.0 billion, growth of 13% YoY and flat QoQ. While YoY growth was due to higher sales volumes and new product launches, though partially moderated by price erosion, QoQ performance remained steady, as volume gains from existing products and recent launches were neutralized by price erosion. During Q1FY26, we launched 26 new products across countries. Pharmaceutical Services and Active Ingredients (PSAI) Q1FY26 revenues at ₹8.2 billion, YoY growth of 7% and QoQ decline of 14%. Growth during the quarter was driven by launch of new API products and favourable forex, partially offset by lower pricing and softer demand. Performance was further supported by growth in the pharmaceutical services business. QoQ decline was primarily attributable to seasonal volume softness. During the quarter, we filed 12 Drug Master Files (DMFs) globally. Income Statement Highlights: Gross Margin Q1FY26 at 56.9% (GG: 60.9%, PSAI: 13.2%), a YoY decline of 350 basis points (bps) and a QoQ improvement of 134 bps. YoY decline was primarily due to higher price erosion in generics segment and reduced operating leverage, partially offset by favorable product mix. Selling, General & Administrative (SG&A) Expenses Q1FY26 at ₹25.6 billion, YoY increase of 13% and QoQ growth of 7%. The YoY increase was driven by strategic investments in consumer healthcare business segment, including the NRT and Nestlé JV. Other SG&A expenses stayed mostly unchanged from last year, reflecting cost discipline across core operations. The QoQ reflects targeted investments to enhance brand visibility and expand coverage across branded markets. Research & Development (R&D) Expenses Q1FY26 at ₹6.2 billion. As % to Revenues – Q1FY26: 7.3% | Q1FY25: 8.1% | Q4FY25: 8.5%. R&D investments were focused on building a robust pipeline of high-value products, spanning complex generics, biosimilars, APIs and novel biologics with particular emphasis on oncology, peptides and injectables and aimed at developing first to market formulations. Net Finance Income/Expense Q1FY26 income at ₹1.6 billion compared to ₹0.9 billion in Q1FY25. Profit before Tax Q1FY26 at ₹19.0 billion, a YoY growth of 1% and a QoQ decline of 5%. As % to Revenues – Q1FY26: 22.3% | Q1FY25: 24.5% | Q4FY25: 23.6%. Income Tax Q1FY26 at ₹5.0 billion. As % to PBT – Q1FY26: 26.0% | Q1FY25: 26.0% | Q4FY25: 20.8%. Profit attributable to Equity Holders of Parent Company Q1FY26 at ₹14.2 billion, a YoY growth of 2% and a QoQ decline of 11%. As % to Revenues – Q1FY26: 16.5% | Q1FY25: 18.1% | Q4FY25: 18.7%. Diluted Earnings per Share (EPS) Q1FY26 is ₹17.02. Other Financial Highlights: EBITDA Q1FY26 at ₹22.8 billion, YoY growth of 5% and QoQ decline of 8%. As % to Revenues – Q1FY26: 26.7% | Q1FY25: 28.2% | Q4FY25: 29.1%. Others: Operating Working Capital: As on 30 th June 2025 at ₹133.3 billion. Capital Expenditure: Q1FY26 at ₹6.8 billion. Free Cash Flow: Q1FY26 at ₹4.5 billion. Net Cash Surplus: As on 30 th June 2025 at ₹29.2 billion Net Debt to Equity: As on 30 th June 2025 is (0.08) Annualized Return on Capital Employed (RoCE): Q1FY26 stood at 22.0% About key metrics and non-GAAP Financial Measures This press release contains non-GAAP financial measures within the meaning of Regulation G and Item 10(e) of Regulation S-K. Such non-GAAP financial measures are measures of our historical performance, financial position or cash flows that are adjusted to exclude or include amounts from the most directly comparable financial measure calculated and presented in accordance with IFRS. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with IFRS. Our non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles. These measures may be different from non-GAAP financial measures used by other companies, limiting their usefulness for comparison purposes. We believe these non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating our business. For more information on our non-GAAP financial measures and a reconciliation of GAAP to non-GAAP measures, please refer to "Reconciliation of GAAP to Non-GAAP Results" table in this press release. All amounts in millions, except EPS Net Cash Surplus and Debt to Equity Particulars As on 30 th Jun 2025 (₹) Cash and Cash Equivalents 9,004 Investments 64,165 Short-term Borrowings (38,381) Long-term Borrowings (Current & Non-current) (10,263) Less: Restricted Cash Balance – Unclaimed Dividend and others 292 Lease liabilities (Included in Short-term and Long-term Borrowings) (6,463) Equity Investments (Included in Investments) 1,476 Net Cash Surplus 29,220 Equity 353,755 Net Debt/Equity (0.08) Expand Computation of Capital Employed: Particulars As on Jun 30, 2025 Mar 31, 2025 Property Plant and Equipment 102,784 97,761 Intangibles 95,597 96,803 Goodwill 11,975 11,810 Investment in Equity Accounted Associates 4,938 4,811 Other Current Assets 31,768 30,142 Other Investments 6,481 10,391 Other Non-Current Assets 939 972 Inventories 75,600 71,085 Trade Receivables 95,137 90,420 Derivative Financial Instruments 38 (729) Less: Other Liabilities 47,254 48,788 Provisions 6,789 6,324 Trade payables 37,457 35,523 Operating Capital Employed 333,757 322,831 Average Capital Employed 328,294 Expand Computation of EBITDA Refer page no. 3 & 4. About Dr. Reddy's: Dr. Reddy's Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY) is a global pharmaceutical company headquartered in Hyderabad, India. Established in 1984, we are committed to providing access to affordable and innovative medicines. Driven by our purpose of 'Good Health Can't Wait', we offer a portfolio of products and services including APIs, generics, branded generics, biosimilars and OTC. Our major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology. Our major markets include – USA, India, Russia & CIS countries, China, Brazil, and Europe. As a company with a history of deep science that has led to several industry firsts, we continue to plan and invest in businesses of the future. As an early adopter of sustainability and ESG actions, we released our first Sustainability Report in 2004. Our current ESG goals aim to set the bar high in environmental stewardship; access and affordability for patients; diversity; and governance. For more information, log on to: Disclaimer: This press release may include statements of future expectations and other forward-looking statements that are based on the management's current views and assumptions and involve known or unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words "may", "will", "should", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "potential", or "continue" and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to without limitation, (i) general economic conditions such as performance of financial markets, credit defaults , currency exchange rates , interest rates, persistency levels and frequency / severity of insured loss events (ii) mortality and morbidity levels and trends, (iii) changing levels of competition and general competitive factors, (iv) changes in laws and regulations and in the policies of central banks and/or governments, (v) the impact of acquisitions or reorganization , including related integration issues, and (vi) the susceptibility of our industry and the markets addressed by our, and our customers', products and services to economic downturns as a result of natural disasters, epidemics, pandemics or other widespread illness, including coronavirus (or COVID-19), and (vii) other risks and uncertainties identified in our public filings with the Securities and Exchange Commission, including those listed under the "Risk Factors" and "Forward-Looking Statements" sections of our Annual Report on Form 20-F for the year ended March 31, 2025 and our other filings with US SEC. The company assumes no obligation to update any information contained herein.
CNET
a minute ago
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This Powerful EcoFlow Solar Generator and Panel Bundle Is Down by a Massive $2,000 Right Now
If you love camping, adventuring and enjoying the outdoors, then a solar generator or some solar panels can help you stay connected even during the most trying conditions. These handy devices are perfect for keeping your devices charged so you can stream your favorite content, use fancy GPS devices and charge any smartwatches or portable devices that make your adventures more comfortable. Right now, we've spotted this EcoFlow Delta Pro 3 generator bundle for just $3,499 at Amazon -- that's still a hefty cost, but this sale saves you $2,000 over the bundle's usual asking price. If you want just the generator, it starts at $2,799 at EcoFlow. This EcoFlow Delta 3 Pro bundle also includes two 400-watt solar panels that can keep your solar generator charged even when there are no nearby electrical outlets. The Delta Pro 3 solar generator includes 10 charging ports: 6 AC outlets, 2 USB-A ports and 2 USB-C ports. The A outlets support 120V and 240V voltage so all of your devices can get their needed recharge. Its LCD screen shows you your battery and charge status, making it easy for you to keep track of your usage stats. You can also download the EcoFlow app for iOS or Android to keep an eye on your usage as well. Hey, did you know? CNET Deals texts are free, easy and save you money. Don't feel like using the solar panels? There are a total of 7 ways to recharge the Delta Pro 3 solar generator so you'll always be ready for your adventures. EcoFlow also equipped this solar generator with automotive-grade battery cells that are made to last. This solar generator weighs approximately 115 pounds -- so consider that if you're traveling -- and it includes two wheels and a handle for easier maneuvering. If you prefer just the solar generator, you can buy it for $2,699 at Amazon, which saves you $1,000 on its list price. Looking for a new solar generator or power station but not sure if this deal is for you? We've got a list of the best solar generators so you can find one that works for you. Why this deal matters At $3,499, this EcoFlow Delta Pro 3 solar generator bundle is quite an investment, but it's still $2,000 off its regular price of $5,499. With two 400-watt solar panels, you'll be able to recharge the Delta Pro 3 wherever you are and also get plenty of years of service out of it thanks to EcoFlow's durable design.
CNN
a minute ago
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Fact check: Five false claims Trump made about inflation last night
President Donald Trump is not only continuing to lie about inflation. He's now falsely claiming that Democrats are lying when they accurately point out that prices are up. In a speech Tuesday night to Republican members of Congress, Trump delivered a series of inaccurate assertions on the subject of prices. He wrongly claimed that gas was selling Tuesday for below $2 a gallon 'in five different states' (it was actually zero states); that prices are 'all down' (consumer prices are up under Trump); that Democrats are lying when they say prices are up (these Democrats are correct); that grocery prices 'are down' (they are up under Trump); and that core inflation is 'below 2%' (it's 2.9%, per the Consumer Price Index). Here is a fact check. False. Of the tens of thousands of gas stations nationwide tracked by the company GasBuddy, there was not a single station offering gas for $1.99 per gallon or less on Tuesday, said Patrick De Haan, the company's head of petroleum analysis. (Some drivers get special discounts.) And no state had an average Tuesday gas price lower than Mississippi's $2.71 per gallon, according to data published by AAA. Trump has regularly claimed this year that two, three, or five states have sub-$2 gas, but CNN has never found any of these claims to be true. False. Grocery prices are up during this Trump presidency. Grocery prices in June were about 0.6% higher than they were in January, the month Trump was inaugurated, and about 2.4% higher than they were in June 2024, according to the latest Consumer Price Index data. Grocery prices did fall this April, as egg prices dropped sharply after a spike caused by an avian flu outbreak, but grocery prices then increased again in May and June. False. Regardless of anyone's opinion of Federal Reserve Chair Jerome Powell and interest rate policy, US prices are not 'all down'; in reality, prices have continued to increase during Trump's second presidency. As of June, overall consumer prices were about 2.7% higher than they were in June 2024, about 0.3% higher than they were in May 2025, and about 1.5% higher than they were in January 2025. Given this overall increase in prices since January, it's obvious that prices have gone up in various individual categories — so the president's suggestion that not a single price has increased is clearly untrue. It's important to note that it's normal for prices to rise over time; the Federal Reserve generally aims for 2% inflation over the long run. Trump could fairly say that inflation remains nowhere near the levels of 2022, when it briefly topped 9%, and that his new tariffs have not immediately caused a massive inflation spike. But Trump made a signature campaign pledge to immediately bring prices down, not to keep prices increasing at a moderate pace. Contrary to his claim on Tuesday, that promised decline hasn't happened. Nonsense. It's correct, not a lie, to say overall prices, grocery prices and food prices in general are up during this presidency. And though oil prices are down in world markets, the gasoline prices paid by US drivers have increased slightly since Trump returned to the White House. (They certainly aren't 'through the roof,' but Trump didn't identify the Democrats who supposedly claimed they are.) The national average price for a gallon of regular gas on Tuesday was about $3.14 per gallon, according to AAA data. That's up from about $3.12 per gallon on Trump's second inauguration day in January – though, as GasBuddy's De Haan noted to CNN, the national average is now lower than it was at this point on the calendar in every year since pandemic-era 2021. False. Core inflation is not below 2%. This measure, which excludes volatile food and energy prices, showed prices up about 2.9% in June compared with June 2024, according to the most recent Consumer Price Index data. Other oft-cited measures of core inflation are also above 2%. The most recent data from the Personal Consumption Expenditures price index showed core inflation up about 2.7% in May compared with May 2024, while the most recent data from the Producer Price Index showed core inflation up about 2.6% in June compared with June 2024. The accuracy of Trump's claim that core inflation is 'way down' depends on where you start the clock. The 2.9% Consumer Price Index core inflation rate in June 2025 was up from March, April and May (it was about 2.8% each of those months), but it was down from about 3.3% in January.
