United Airlines, Procter & Gamble, Moderna: Stocks That Defined the Week
United Airlines Holdings Inc.
America’s vacation from travel restrictions might get cancelled. The European Union recommended halting nonessential travel from the U.S. because of the rise of Covid-19 cases, diplomats said Monday. The bloc’s earlier decision, in June, to place the U.S. on its safe list was a welcome relief for Europe’s tourist-heavy southern economies after pandemic-fueled recessions. The trade group Airlines for America called the recommendations a disappointment to the U.S. airline industry. United Airlines shares lost 3.8% Monday.
Zoom Video Communications Inc.
Will Zoom meetings survive the end of the pandemic? The company on Monday surpassed $1 billion in quarterly revenue for the first time in its history, but demand for its videoconferencing services is showing signs of slowing. Zoom said that small businesses and consumers were starting to spend less as opportunities for in-person meetings and gatherings expand, and some metrics supercharged by the pandemic had begun to normalize. As offices start to reopen, analysts are raising questions about Zoom’s ability to retain paying customers and sustain the growth rate it enjoyed during the pandemic’s work-from-home boom. Zoom shares fell 17% Tuesday.
