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Closing Bell
Closing Bell Overtime: How Today’s AI Summit Will Shape The Industry; Arm’s IPO Prices; Air Force Secretary On Geopolitical Threats 9/13/23
Sep 13, 2023
CIO Barbara Doran and Morgan Stanley's Seth Carpenter analyze market action. Moor Insights & Strategy CEO Patrick Moorhead discusses ARM's potential growth. Andrew Ng breaks down the AI summit with Elon Musk and Sundar Pichai. Air Force Secretary talks about China's threats and potential government shutdown economic impact.
44:38
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Quick takeaways
- Increased fuel costs and recent pilot contract negotiations are impacting the profitability of American and Spirit Airlines.
- Elon Musk and Andrew Ng both emphasized the need for effective AI regulation to balance innovation and protect against potential harm.
Deep dives
American Airlines and Spirit Airlines issue Q3 profit warnings due to fuel costs and contract issues
American Airlines and Spirit Airlines both issued profit warnings for the third quarter due to increased fuel costs and other factors. American Airlines expects earnings per share to be closer to 20-30 cents, down from the previous estimate of 85-95 cents. Spirit Airlines warned that their margins could be negative 14.5-15.5%. The increase in fuel costs and recent pilot contract negotiations are major contributing factors to the profit cuts.
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Discover
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