4.3 • 1.2K Ratings
🗓️ 14 October 2020
⏱️ 44 minutes
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0:00.0 | I'm Melissa Lee and this is Fast Money. |
0:03.6 | Tonight's trader line up, Guy Dami, Tim Seymour, Karen Feinerman and Dan Nathan. |
0:07.2 | Tonight on Fast, we're going round two on the banks. |
0:10.2 | One of our traders says this is the best looking chart in all of the financials. |
0:15.0 | That name in his bullcase straight ahead. |
0:17.0 | Plus, we're all over the after-hearth action and shares of Fastly the Cloudstock down big right now after the company slash revenue guidance for the quarter. |
0:24.0 | Why a Tik-Tok takedown is to blame and later Ford hits a big bump in the road. |
0:28.6 | We'll tell you about the hybrid headline descent shares skidding today. |
0:32.0 | But we start off with an earnings alert on United |
0:34.2 | the airline lower in the after-hour recession after reporting earnings. |
0:36.9 | Let's get straight to fill a bow with the details. Phil. |
0:39.1 | Hey Melissa United losing 1.8 billion dollars in the third quarter. That's not a |
0:44.2 | surprise. Everybody knows what's been happening with the airline industry. The |
0:47.6 | numbers a little wider loss than many people were estimating. A loss of $8.16 to share the estimate was for a loss of $8.16 to share. The estimate was for a loss of $7.53. |
0:56.0 | Revenue falling 78 percent, coming in a little shy of expectations at $2.48 billion. The real metric that everybody's focused on, the daily cash burn. |
1:06.0 | Now just for a point of reference, this is a company that was losing $50 million a day back at the end of |
1:12.4 | March when the pandemic accelerated. |
1:14.6 | They brought it down to $40 million for a daily cash loss in Q2. |
1:18.7 | They bring it down to $25 million in Q3. |
1:21.5 | Four million of that, by the way way is debt and severance payments so |
1:25.1 | their core daily cash burn comes down to 21 million dollars a day. Now in the |
1:30.1 | earnings report they do not give a break-even date so while we heard |
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