Fly Intel: Top five weekend stock stories
Catch up on the weekend's top five stories with this list compiled by The Fly:
1. Southwest Airlines (LUV) canceled over 1,800 flights over the weekend, citing bad weather and air-traffic control problems in Florida that rippled throughout its operation, The Wall Street Journal's Alison Sider reported. The airline canceled over 1,000 flights Sunday, or 28% of its schedule, according to FlightAware, a flight tracking site. Over 500 flights were delayed.
2. Apple (AAPL) asked a federal appeals court on Friday to throw out a legal decision that would require the tech giant to tweak its strict App Store rules and force it to allow app developers to inform customers of ways to pay for subscriptions and services outside the App Store, The New York Times' Kellen Browning reported. The September verdict followed a yearlong legal battle between Apple and Epic Games, the maker of the game Fortnite. Apple also asked a judge to delay the ruling mandating App Store changes until after the appeal is heard, the author noted. Changing its rules too quickly, Apple argued, "would upset the careful balance between developers and customers provided by the App Store, and would irreparably harm both Apple and consumers."
3. Everyone has a complaint about Facebook (FB), but there's far less will to force a change, Eric Savitz wrote in this week's edition of Barron's. No question, Facebook continues to receive intense criticism from both sides of the political spectrum, along with growing scrutiny from regulators here and abroad, the author noted. There is growing buzz that Facebook is having a Big Tobacco moment, that Facebook is proving to be toxic, like cigarettes. But for all the buzz, the betting here is that almost nothing will happen, Savitz argued. Further, this past week's service outage could be a reminder of Facebook's staying power, the publication added.
4. "No Time to Die" won the domestic box office with a $56M debut, the fifth-best domestic opening of the pandemic era. The movie had been pushed back three times due to COVID. "No Time to Die" earned an A- CinemaScore from audiences in North America.
5. Gray Television (GTN) and Prudential (PRU) saw positive mentions in this week's edition of Barron's.