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Air traffic statistics for August at Southwest Airlines (NYSE:LUV) reveal that load factor improved though revenue passenger miles were flat. Passenger revenue per ASM is estimated to have risen 2-3 percent in the month.
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Investors press the sell button on Lululemon (NASDAQ:LULU) as inventories jump 41 percent to $125.4 million. Direct to consumer sales was up 91 percent year-on-year to $35.4 million. Q3 revenue is expected in the range $300 – $305 million driven by comparable-store sales growth in the lower teens. The earnings beat and improved guidance obviously did not impress investors.
Banco Santander (NYSE:SAN) is quick off the block to cash in on new-found European optimism, and offers 2.5 billion euros in 3.5 year paper. It may get away with pricing the paper at yields similar to the 2-year paper it sold last month. The bank receives bids for 6 billion euros.
Shares of Internet radio service Pandora (NYSE:P) fall off the charts in reaction to a report in the WSJ that Apple may pre-instal Internet radio on iOS devices and integrate it with iTunes. Though Pandora could take rivals such as Clear Channel, Spotify and others in its stride, Apple, with its marketing and brand muscle would be competition in a different league.
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