• 2 months ago
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and Delta first earnings report since the CrowdStrike meltdown.

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Transcript
00:00I'm Remy Blair reporting from the New York Stock Exchange.
00:03Here's what we're watching today on the street.
00:05Stocks are looking to pick up where they left off on Wednesday
00:08after the Dow and S&P 500 closed at record highs.
00:11Wall Street is digesting the latest Consumer Price Index report,
00:15which saw inflation cool once again in September, hitting a three-year low.
00:19Inflation now sits at 2.4 percent,
00:22a touch higher than economists' predictions of 2.3 percent.
00:25The Federal Reserve's target inflation number is 2 percent.
00:29The report paves the way for the Fed to again lower interest rates in November.
00:34And in other headlines, we now finally know the real cost of Delta's July service meltdown.
00:39The good news is the airline beat Wall Street's revenue estimates
00:43and reported a profitable quarter.
00:45However, Delta's $971 million in adjusted income was 26 percent lower from this time a year ago.
00:52The company also missed its target on earnings per share.
00:56In July, a worldwide software glitch stemming from cybersecurity firm CrowdStrike
01:01forced all major carriers to cancel flights.
01:04Delta canceled more than 7,000 flights over a one-week period
01:07and claims the outage blew a half-a-billion-dollar hole in its budget.
01:12While most airlines were up and running after a couple of days,
01:16Delta struggled to get back on track following the outage.
01:19CrowdStrike says the airline's antiquated systems were to blame,
01:23while Delta places the blame squarely on the cybersecurity company.
01:27Delta continues to seek compensation from CrowdStrike,
01:30with CEO Ed Bastian telling CNBC,
01:33"...the havoc that was created deserves, in my opinion, to be fully compensated for.
01:38This matter is now in the hands of our attorneys.
01:40We hope that we'll see a resolution, but we keep all of our options open."
01:45And that'll do it for your daily briefing.
01:48From the New York Stock Exchange, I'm Remy Blair with The Street.

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