The founder of Hayman Capital Management said short-term pain will help the economy emerge on a firmer footing.
The eliminations followed buyout offers extended by the company to the division's employees in January.
In the recent week, the U.S. has imposed an additional 145% tariff on Chinese goods; China has slapped an 84% retaliatory tariff on American imports.
It, however, confirmed its fiscal year 2025 outlook that calls for sales of $4.54 billion to $4.57 billion, representing 5.4%-6.4% growth.
The airline expects the second quarter's capacity to be down by low single-digit percentage points compared to the year-ago quarter.
TMTG's shares climbed 21.67% on Wednesday after trading in a $16.50-$20.40 range, with the upside accompanied by nearly two times the average volume.
The company is also selling a part of its wines portfolio to The Wine Group, as it shifts focus to high-margin alcoholic beverages
CEO Stephen Brady emphasized the company's strong data and regulatory momentum, pointing to Phase 2 results for amezalpat in advanced liver cancer and FDA clearance for a pivotal Phase 3 study.
Several Wall Street analysts cut their price targets for Apple’s stock factoring in the negative impact of tariffs on the company’s top- and bottom-line.
Several policymakers noted that it could get difficult to differentiate between “relatively persistent changes in inflation and more temporary changes” associated with tariffs.
