Constellation Energy receives nod from FERC for Calpine acquisition
This approval represents a step forward in the transaction following earlier approvals by the New York Public Service Commission and the Public Utility Commission of Texas, the company said.
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Reuters
2 hours ago
- Reuters
Food distributor Sysco beats quarterly expectations as US demand improves
July 29 - Packaged and fresh food distributor Sysco (SYY.N), opens new tab beat analysts' estimates for fourth-quarter revenue and profit on Tuesday, helped by improvement in its U.S. operations. The company, which supplies to chains such as KFC and Subway, has been grappling with an uneven recovery in restaurant industry traffic as looming economic uncertainties prompted consumers to increasingly cook meals at home. Sysco's U.S. foodservice segment, its largest business, posted sales of $14.76 billion during the quarter ended June 28, up 2.4% over the year earlier. The segment had seen a 0.7% increase in the preceding quarter. The company is also trying to cut costs through measures such as renegotiation of supplier contracts to procure raw materials at lower prices. To lower shipping expenses, it has introduced programs such as "Sysco-to-go", which requires customers to pick up orders directly from its stores. On an adjusted basis, it earned $1.48 per share during the fourth quarter, beating analysts' average estimate of $1.39 per share, according to data compiled by LSEG. Sysco's total sales rose 2.8% to $21.14 billion, also ahead of the estimate of $21.03 billion. The Houston, Texas-based company forecast fiscal 2026 adjusted earnings per share to be between $4.50 and $4.60. Analysts were expecting a profit of $4.67 per share. The company's shares were down 3% in early trading.
Reuters
4 hours ago
- Reuters
JetBlue posts smaller-than-expected loss as U.S. demand recovers
July 29 (Reuters) - JetBlue Airways (JBLU.O), opens new tab on Tuesday posted an adjusted loss for the second quarter that was smaller than Wall Street expectations, helped by cost cutting measures and recovering demand for travel in the U.S. Shares of the carrier were up nearly 3% in premarket trading. Over the past month, larger peers Delta (DAL.N), opens new tab and United (UAL.O), opens new tab have signaled that bookings are starting to stabilize, though at lower-than-expected levels, pointing to an uneven recovery. In April, JetBlue joined several major airlines in pulling its 2025 financial forecast, citing uncertainty tied to the Trump administration's sweeping tariff policies and federal spending cuts that weighed on consumer travel. "Demand for air travel improved as the quarter progressed, resulting in significant strength for bookings within 14-days of travel, as well as for peak travel periods," said Marty St. George, JetBlue's president, adding that the momentum continued into July. However, the carrier said it expects third-quarter revenue per available seat mile (RASM), an industry metric commonly known as unit revenue and a proxy for pricing power, to decline between 2% and 6%. It also reinstated its 2025 unit cost forecast and expects it to rise between 5% and 7%. The New York-based airline said unit revenue during the second quarter - a proxy for pricing power - declined 1.5%, which exceeded previous guidance. The carrier reported an adjusted loss of 16 cents per share for the quarter ended June 30, compared to analysts' estimate of a loss of 33 cents apiece. Operating revenue was $2.18 billion. Analysts, on average, were expecting $2.28 billion, as per data compiled by LSEG. The carrier said it expects to return to growth in 2026 in part due to an improved impact from ongoing inspections of RTX's (RTX.N), opens new tab Pratt & Whitney Geared Turbofan engines. The company now expects fewer than 10 grounded aircraft in 2025 down from mid-to-high teens.
Daily Mail
5 hours ago
- Daily Mail
Animal shelters across US seeing rise in 'owner surrenders'
Another troubling sign of economic strain: more Americans are giving up their pets. Animal shelters across the US are seeing a rise in 'owner surrenders,' as families hand over dogs and cats they can no longer afford to keep. Volunteers say it's often an early warning sign of deeper financial distress. 'There are times when the economy has taken a dip or we've had a lot of job layoffs,' Melissa Knicely, a staffer at North Carolina shelter, told CNN . When that happens, '100 percent' there will be a jump in pets given up. Knicely's shelter has seen a 43 percent spike in surrenders this year — with most families saying they simply couldn't afford to keep their pets. They're not alone. Several rescues across the country have reported similar issues. Risa Weinstock, president of the Animal Care Centers of New York City, said her organization has stopped accepting new animals because they're over capacity. 'We're in the business to care for animals that come to us, and we want to help people with their pets,' she told NBC News . 'But when we have 1,000 animals to care for and a capacity to house them that doesn't meet that need, we're in a bit of a difficult situation.' Dog and cat ownership has become significantly more expensive in recent years, with the price of food and veterinary care climbing steeply. Porter County Animal Shelter, an adoption center in Indiana, estimates that dog owners spend between $20 and $60 a month on food alone. Annual costs — including beds, collars, medical treatments, grooming, and other basics — can total any additional $925 to $2,900, depending on the dog's breed and size, they estimate. The increasing pet prices are also coming while Americans continue to struggle with their own day-to-day bills. Food prices have soared since 2020 as restaurants, grocery stores, and suppliers scrambled to rebuild supply chains after pandemic shutdowns. Now, with tariff campaigns, heightened interest rates , growing geopolitical uncertainty, and new price rises, consumers are starting to feel their wallets getting stretched further. Last month, the Labor Department said that prices rose 2.7 percent — the largest increase since February — breaking a months-long streak of slowing inflation. And Americans are increasingly taking out consumer debt to pay for those higher prices. Still, a majority of economic indicators point to a robust economy. Unemployment claims fell again last week, and the latest jobs report showed that Americans are working and earning more than before. Those figures have helped reassure Wall Street investors, who continue to pour money into the economy on hopes that US consumers will keep spending. But for many households, the gap between those promising macroeconomic signals and the realities of rising costs feels impossible to ignore.
