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Capital A Bhd provides air transportation throughout Asia. The airline operator focuses on delivering lower fares without a host of other amenities. Its operating segments include Aviation, Asia Digital Engineering, Move, Teleport, BigPay, Santan, and Others. The company's geographical segments include Malaysia, the Philippines, Indonesia, Thailand, and others, of which the vast majority of its revenue comes from Malaysia.

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Airlines Depend On Hedging, Fuel Surcharges As Oil Surges: Report

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AirAsia Partners With Google To Reskill Staff, Launches Tech Academy

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AirAsia Posts Surge In Q2 Net Profit

Capital A Bhd

<ul>
<li>Amid Russia&#39;s invasion of Ukraine, the oil price has surged to its highest level since 2008. This oil price increase comes as many carriers are forced to fly longer routings to avoid Russian and Ukrainian airspace,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/business/aerospace-defense/airlines-use-hedging-fuel-surcharges-offset-some-pain-oil-surges-2022-03-07/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">reported Reuters</a>.</li>
<li>The price surge is another addition to airline costs when the carriers have already struggled to recover from a pandemic-related dip in demand.</li>
<li>On Saturday, Malaysia&#39;s AirAsia,&nbsp;Capital A Berhad&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/aiabf#OTC">AIABF</a>), introduced fuel surcharges on tickets for the first time since 2015.</li>
<li>Chinese airlines also raised fuel surcharges on domestic routes, its aviation regulator said, while Emirates,&nbsp;Japan Airlines&nbsp;Co Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/japsy#OTC">JAPSY</a>), and&nbsp;ANA Holdings Inc&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/alnpy#OTC">ALNPY</a>) raised their surcharges recently, the report added.&nbsp;</li>
<li>Some carriers are fully unhedged, like&nbsp;Wizz Air&nbsp;Holdings PLC&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/wzzaf#OTC">WZZAF</a>)) and U.S. majors&nbsp;United Airlines Holdings Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ual#NASDAQ">UAL</a>),&nbsp;American Airlines Group Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aal#NASDAQ">AAL</a>), and&nbsp;Delta Air Lines Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dal#NYSE">DAL</a>), though the latter owns an oil refinery, the report noted.</li>
<li>Others have oil hedges that will help offset portions of the price increase, like&nbsp;Air France-KLM&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/afraf#OTC">AFRAF</a>), which has hedged 72% of oil consumption for the first quarter and 63% for the second quarter at $90 a barrel.</li>
<li>Air New Zealand&nbsp;Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/anzff#OTC">ANZFF</a>) has hedged 1.34 million barrels of oil in the current half ending June 30 and 707,500 barrels in the following half-year period. The carrier also raised international fares by about 5%, citing rising oil prices and general cost inflation.</li>
<li>Cathay Pacific Airways&nbsp;Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/cpcay#OTC">CPCAY</a>) hedged more than 60% of its expected first-quarter consumption and about half of its second-quarter consumption.</li>
<li>EasyJet PLC&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/esyjy#OTC">ESYJY</a>) airline 60% hedged for fuel in the financial year ending on September 30 at around $504 per metric tonne.</li>
<li>Deutsche Lufthansa AG&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/dlaky#OTC">DLAKY</a>) is 63% hedged in 2022 at a break-even price of $74 a barrel.</li>
<li>Qantas Airways&nbsp;Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/qabsy#OTC">QABSY</a>) has more than 90% of its fuel hedged in the current half and has a lower level of hedges in place for the following half-year period.</li>
<li>Ryanair Holdings plc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ryaay#NASDAQ">RYAAY</a>) is 80% hedged on fuel out to 2023. However, rising prices will still cost the airline group around 50 million euros ($54.22 million) over the next 12 months, the reported quoted CEO Michael O&#39;Leary.</li>
<li>Singapore Airlines&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/singy#OTC">SINGY</a>) has hedged 30% of its oil needs at an average Brent price of $57 a barrel for the six months ending March 31. It had also hedged 40% of its needs at an average price of $60 for the following five quarters.</li>
<li>Price Action:&nbsp;UAL shares are trading lower by 3.54% at $35.41, AAL lower by 3.08% at $14.14, DAL lower by 3.22% at $33.41, and RYAAY lower by 3.96% at $83.32 during the premarket session on Monday.</li>
</ul>

Kuala Lumpur-based budget carrier AirAsia Berhad (OTC: <a class="ticker" href="https://www.benzinga.com/stock/aiabf#OTC">AIABF</a>) has partnered with Alphabet Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>) to launch a technology academy, CNBC <a href="https://www.cnbc.com/2020/01/16/google-teams-up-with-airasia-to-launch-new-tech-academy.html">reported</a> on Wednesday.
<h3>What Happened</h3>
The &quot;AirAsia Google Cloud Academy&quot; will be managed by AirAsia&#39;s venture fund RedBeat Ventures and Google Cloud, according to CNBC.
The academy will be opened to all AirAsia employees in February, who want to gain technology skills to better suit AirAsia&#39;s &quot;current and future business operations,&quot; AirAsia Group President Aireen Omar <a href="https://asia.nikkei.com/Editor-s-Picks/Interview/AirAsia-and-Google-to-launch-Asia-s-first-tech-academy">told The Nikkei Asian Review</a>. It will be opened to&nbsp;the public by the year&#39;s end, Aireen said.
&quot;More jobs might become redundant in the next three years, so we are giving our employees the [opportunity] to reskill to suit the digital economy,&quot; Aireen told The Nikkei.
Some of the courses that the academy will offer include digital marketing, digital product management, software engineering, and building and designing tech infrastructure, according to The Nikkei.
AirAsia had partnered with Google Cloud in October 2018 to incorporate artificial intelligence and machine learning into its business, the Malay Mail <a href="https://www.malaymail.com/news/money/2018/10/10/airasia-collaborates-with-google-cloud-to-become-travel-technology-company/1681461">reported</a> at the time.
<h3>Why It Matters</h3>
The budget carrier has been increasingly expanding into other businesses as profits from the airline decrease due to rising fuel costs and industry competition.
AirAsia <a href="https://newsroom.airasia.com/news/santan-tco-opens-first-flagship-restaurant-in-kuala-lumpur">launched</a> its first restaurant in Kuala Lumpur December last year that serves the same food it does onboard the craft. The carrier said it planned to expand to 100 venues globally in the next five years.
The airline <a href="https://newsroom.airasia.com/news/airasia-group-berhad-third-quarter-2019-financial-results">reported</a> an 18% growth in revenue in the third quarter of 2019 at $761 million, with a 26% increase in revenue from supporting services.
<h3>Price Action</h3>
AirAsia&#39;s shares closed 0.72% higher at $0.4 in the otc market on Wednesday. The shares traded at $0.41 in Kuala Lumpur on Thursday.
Photo Credit:&nbsp;Public domain photo&nbsp;<a href="https://commons.wikimedia.org/wiki/File:AirAsia_X_Airbus_A330-300_Nazarinia-2.jpg">via Wikimedia</a>.&nbsp;

AirAsia Bhd. (OTC: <a class="ticker" href="/stock/aiabf#OTC">AIABF</a>) reported a strong rise in its second-quarter net profit.

AirAsia's quarterly net profit jumped to 1.19 billion ringgits ($381.1 million), from MYR104.3 million, in the year-ago period. 

Its revenue gained 9.3% to MYR1.18 billion, versus MYR1.08 billion.

Hormel Foods Corp (NYSE: <a class="ticker" href="/stock/hrl#NYSE">HRL</a>) reported a decline in its Q4 net earnings. Hormel Foods' quarterly net earnings fell to $117.3 million, or $0.43 per share, from $121.1 million, or $0.45 per share, in the year-ago period. Its sales dropped to $2.1 billion from $2.06 billion. However, analysts were expecting a profit of $0.42 per share on sales of $2.13 billion. Hormel Foods forecast FY12 earnings in a range of $1.79 to $1.89 per share, versus $1.74 per share in fiscal 2011.

Campbell Soup Co (NYSE: <a class="ticker" href="/stock/cpb#NYSE">CPB</a>) reported a drop in its first-quarter profit. Campbell Soup's quarterly profit fell to $265 million, or $0.82 per share, from $279 million, or $0.82 per share, in the year-ago period. Campbell Soup had 322 million shares outstanding in the latest quarter, versus 338 million shares, in the year-ago period. Its revenue dropped to $2.16 billion, from $2.17 billion. However, analysts were expecting earnings of $0.79 per share on revenue of $2.21 billion.

Cubic Corp (NYSE: <a class="ticker" href="/stock/cub#NYSE">CUB</a>) reported an upbeat fourth-quarter profit. Cubic's quarterly net income climbed to $24.1 million, or $0.90 per share, from $13.3 million, or $0.49 per share, in the year-ago period. Its sales dropped to $346.9 million. However, analysts were expecting earnings of $0.77 per share on sales of $351.8 million.

Hanwha SolarOne Co (NASDAQ: <a class="ticker" href="/stock/hsol#NASDAQ">HSOL</a>) reported a wider-than-expected third-quarter loss and lowered its full-year shipment forecast. Hanwha SolarOne lowered its full-year module shipments forecast to 815 to 835 megawatts, versus 1 gigawatts. Hanwha SolarOne reported a quarterly net loss of $27.9 million, or $0.33 per American Depository Share (<a class="ticker" href="/stock/ads#">ADS</a>), versus a year-ago profit of $40.2 million, or $0.53 per ADS. Its revenue dropped to $225.4 million. Excluding items, Hanwha SolarOne posted a loss of $0.55 per ADS. However, analysts were expecting a loss of $0.08 per ADS on revenue of $278.8 million.

JA Solar Holdings Co (NASDAQ: <a class="ticker" href="/stock/jaso#NASDAQ">JASO</a>) swung to a Q3 net loss on Tuesday. JA Solar posted a quarterly loss of 376 million yuan ($59.1 million), or 2.28 yuan per share, versus a year-ago profit of 513.7 million yuan, or 3.14 yuan per share. Its revenue fell to 2.47 billion yuan from 3.62 billion yuan.

LTX Credence Corp (NASDAQ: <a class="ticker" href="/stock/ltxc#NASDAQ">LTXC</a>) reported a wider-than-expected first-quarter loss. LTX Credence projects Q2 loss of $0.15 to $0.20 per share on revenue of $26 to $30 million. Analysts were projecting a loss of $0.07 per share on revenue of $35.6 million. LTX Credence posted a quarterly loss of $4.9 million, or $0.10 per share, versus earnings of $19.7 million, or $0.39 per share, in the year-ago period. Excluding items, LTX Credence posted a loss $0.08 per share. Its sales declined 46% to $33.75 million. However, analysts were expecting a loss of $0.07 per share on revenue of $37.1 million.

DSW Inc (NYSE: <a class="ticker" href="/stock/dsw#NYSE">DSW</a>) reported upbeat third-quarter profit and lifted its full-year profit forecast. DSW projects comparable store sales to surge 7% to 8% this year. It projects FY earnings of $2.90 to $2.95 per share, versus its prior forecast of $2.70 to $2.85 per share. DSW reported its quarterly net income at $53.7 million, or $0.75 per share, versus a net loss of $3.3 million, or $0.16 per share, in the year-ago period. Its adjusted net income came in at $39.8 million, or $0.88 per share, versus net income of $35.5 million, or $0.79 per share, in the year-ago quarter. DSW's net sales climbed 8.5% to $530.7 million from $489.3 million. However, analysts were expecting earnings of $0.80 per share on revenue of $531.7 million.

Chico's FAS Inc (NYSE: <a class="ticker" href="/stock/chs#NYSE">CHS</a>) reported a weaker-than-expected third-quarter profit. Chico's quarterly net income dropped to $26.5 million, or $0.16 per share, from $28.8 million, or $0.16 per share, in the year-ago period. Excluding items, Chico's earnings came in at $0.18 per share. Chico's sales surged 11.5% to $538.5 million. However, analysts were projecting a profit of $0.20 per share on revenue of $548.9 million.

Daktronics Inc (NASDAQ: <a class="ticker" href="/stock/dakt#NASDAQ">DAKT</a>) reported downbeat second-quarter profit. Daktronics' quarterly earnings dropped to $4 million, or $0.09 per share, from $7 million, or $0.17 per share, in the year-ago period. Its revenue climbed 7% to $135.9 million. However, analysts were expecting earnings of $0.13 per share on revenue of $128.7 million.

Medtronic Inc (NYSE: <a class="ticker" href="/stock/mdt#NYSE">MDT</a>) reported a rise in its second-quarter earnings on Tuesday. Medtronic's quarterly earnings surged to $871 million, or $0.82 per share, from $566 million, or $0.52 per share, in the year-ago period. Excluding items, Medtronic earned $0.84 per share. Its revenue surged to $4.13 billion from $3.90 billion. However, analysts were expecting earnings of $0.82 per share on revenue of $4.07 billion.

Signet Jewelers Ltd (NYSE: <a class="ticker" href="/stock/sig#NYSE">SIG</a>) reported a better-than-expected quarterly profit. Signet's quarterly net income surged to $26.1 million, or $0.30 per share, from $6 million, or $0.07 per share, in the year-ago period. Its overall sales came in at $710.5 million. However, analysts were expecting earnings of $0.21 per share on revenue of $681.21 million.

George Weston Ltd (OTC: <a class="ticker" href="/stock/wngrf#OTC">WNGRF</a>) reported a 50% surge in its third-quarter profit. George Weston's quarterly earnings climbed to C$264 million, or C$1.94 per basic share, from C$176 million, or C$1.26 per basic share, in the year-earlier period. On an adjusted basis, George Weston earnings came in at C$1.44 per basic share. Its sales surged 2.4% to C$10.06 billion.

Cracker Barrel Old Country Store Inc (NASDAQ: <a class="ticker" href="/stock/cbrl#NASDAQ">CBRL</a>) reported better-than-expected first-quarter profit. Cracker Barrel's quarterly net income came in at $23.8 million, versus $23.7 million, in the year-ago period. Its GAAP EPS climbed to $1.03 from $1.01. Cracker Barrel's adjusted earnings came in at $1.09 per share. Its revenue came in at $598.4 million, versus $598.7 million. However, analysts were expecting earnings of $1.05 per share on revenue of $602.2 million.

LDK Solar Co (NYSE: <a class="ticker" href="/stock/ldk#NYSE">LDK</a>) swung to a Q3 net loss on Tuesday. LDK Solar posted a quarterly loss of $114.5 million, or $0.87 an American depositary share, versus a year-ago net income of $93.4 million, or $0.72 per ADS. Its sales fell to $471.9 million from $675.6 million. However, analysts were expecting a loss of $0.43 per share on revenue of $543.8 million. 

Pandora A/S (OTC: <a class="ticker" href="/stock/pndzy#OTC">PNDZY</a>) reported a 41% decline in its third-quarter net profit. Pandora's quarterly net profit dropped to DKK341 million, from DKK581 million, in the year-ago period. Analysts were expecting a net profit of DKK292.8 million. Pandora's earnings before interest and tax (EBIT) declined 32% to DKK506 million from DKK743 million. Pandora's sales dropped 12% to DKK1.57 billion, from DKK1.79 billion, versus analysts' estimates of DKK1.47 billion.

Mitchells &amp; Butlers PLC (OTC: <a class="ticker" href="/stock/mbpff#OTC">MBPFF</a>) swung to a fiscal-year profit from a loss in the year-ago period. Mitchells &amp; Butlers posted its earnings at 125 million pounds ($195.4 million), or 30.5 pence per share, versus a loss of £84 million, or 20.6 pence, in fiscal 2010. Its earnings before special items dropped to 27.7 pence per share from 29.4 pence per share. Its revenue dropped to £1.8 billion from £1.98 billion. 

Suntech Power Holdings Co (NYSE: <a class="ticker" href="/stock/stp#NYSE">STP</a>) swung to a Q3 loss. Suntech Power posted a quarterly net loss of $116 million, or $0.64 an American depositary share, versus a year-ago net income of $33.1 million, or $0.18 per ADS. Its revenue climbed to $809.8 million from $743.7 million. However, analysts were expecting a loss of $0.21 per share on revenue of $779.5 million.

Canadian Solar Inc (NASDAQ: <a class="ticker" href="/stock/csiq#NASDAQ">CSIQ</a>) swung to a Q3 net loss. Canadian Solar posted a quarterly net loss of US$43.9 million, or $1.02 per share, versus a year-ago net income of $20.3 million, or $0.47 per share. Its revenue climbed to $499.6 million from $377.2 million. However, analysts were expecting a loss of $0.52 per share on revenue of $497.9 million.

AirAsia Bhd (OTC: <a class="ticker" href="/stock/aiabf#OTC">AIABF</a>) reported a 53% drop in its fiscal third-quarter net profit. AirAsia's quarterly net profit declined to MYR152.3 million, from MYR327.3 million, in the year-ago quarter. Its revenue climbed 9.9% to MYR1.08 billion from MYR979.7 million. AirAsia's fuel expenses surged 45% to MYR421.2 million. Its staff expenses climbed 38% to MYR126.3 million.

Schaeffler Group reported around 31% drop in its Q3 net profit. Schaeffler's quarterly net profit declined to EUR102 million. Its revenue climbed around 10% to EUR2.70 billion. Schaeffler's earnings before interest and taxes (EBIT) gained around 17% to EUR466 million.

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Earnings Roundup 

AirAsia Bhd (OTC: AIABF) reported a 53% drop in its fiscal third-quarter net profit. 

AirAsia's quarterly net profit declined to MYR152.3 million, from MYR327.3 million, in the year-ago quarter. Its revenue climbed 9.9% to MYR1.08 billion from MYR979.7 million.

AirAsia's fuel expenses surged 45% to MYR421.2 million. Its staff expenses climbed 38% to MYR126.3 million.

AirAsia FQ3 Net Profit Declines 53%

Capital A

<ul>
	<li>Amid Russia&#39;s invasion of Ukraine, the oil price has surged to its highest level since 2008. This oil price increase comes as many carriers are forced to fly longer routings to avoid Russian and Ukrainian airspace,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/business/aerospace-defense/airlines-use-hedging-fuel-surcharges-offset-some-pain-oil-surges-2022-03-07/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">reported Reuters</a>.</li>
	<li>The price surge is another addition to airline costs when the carriers have already struggled to recover from a pandemic-related dip in demand.</li>
	<li>On Saturday, Malaysia&#39;s AirAsia,&nbsp;Capital A Berhad&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/AIABF#OTC">AIABF</a>), introduced fuel surcharges on tickets for the first time since 2015.</li>
	<li>Chinese airlines also raised fuel surcharges on domestic routes, its aviation regulator said, while Emirates,&nbsp;Japan Airlines&nbsp;Co Ltd&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/JAPSY#OTC">JAPSY</a>), and&nbsp;ANA Holdings Inc&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/ALNPY#OTC">ALNPY</a>) raised their surcharges recently, the report added.&nbsp;</li>
	<li>Some carriers are fully unhedged, like&nbsp;Wizz Air&nbsp;Holdings PLC&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/WZZAF#OTC">WZZAF</a>)) and U.S. majors&nbsp;United Airlines Holdings Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>),&nbsp;American Airlines Group Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>), and&nbsp;Delta Air Lines Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), though the latter owns an oil refinery, the report noted.</li>
	<li>Others have oil hedges that will help offset portions of the price increase, like&nbsp;Air France-KLM&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/AFRAF#OTC">AFRAF</a>), which has hedged 72% of oil consumption for the first quarter and 63% for the second quarter at $90 a barrel.</li>
	<li>Air New Zealand&nbsp;Ltd&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/ANZFF#OTC">ANZFF</a>) has hedged 1.34 million barrels of oil in the current half ending June 30 and 707,500 barrels in the following half-year period. The carrier also raised international fares by about 5%, citing rising oil prices and general cost inflation.</li>
	<li>Cathay Pacific Airways&nbsp;Ltd&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/CPCAY#OTC">CPCAY</a>) hedged more than 60% of its expected first-quarter consumption and about half of its second-quarter consumption.</li>
	<li>EasyJet PLC&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/ESYJY#OTC">ESYJY</a>) airline 60% hedged for fuel in the financial year ending on September 30 at around $504 per metric tonne.</li>
	<li>Deutsche Lufthansa AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/DLAKY#OTC">DLAKY</a>) is 63% hedged in 2022 at a break-even price of $74 a barrel.</li>
	<li>Qantas Airways&nbsp;Ltd&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/QABSY#OTC">QABSY</a>) has more than 90% of its fuel hedged in the current half and has a lower level of hedges in place for the following half-year period.</li>
	<li>Ryanair Holdings plc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RYAAY#NASDAQ">RYAAY</a>) is 80% hedged on fuel out to 2023. However, rising prices will still cost the airline group around 50 million euros ($54.22 million) over the next 12 months, the reported quoted CEO Michael O&#39;Leary.</li>
	<li>Singapore Airlines&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SINGY#OTC">SINGY</a>) has hedged 30% of its oil needs at an average Brent price of $57 a barrel for the six months ending March 31. It had also hedged 40% of its needs at an average price of $60 for the following five quarters.</li>
	<li>Price Action:&nbsp;UAL shares are trading lower by 3.54% at $35.41, AAL lower by 3.08% at $14.14, DAL lower by 3.22% at $33.41, and RYAAY lower by 3.96% at $83.32 during the premarket session on Monday.</li>
</ul>

Kuala Lumpur-based budget carrier AirAsia Berhad (OTC:<a class="ticker" href="/stock/AIABF#OTC">AIABF</a>) has partnered with Alphabet Inc. (NASDAQ:<a class="ticker" href="/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="/stock/GOOG#NASDAQ">GOOG</a>) to launch a technology academy, CNBC <a href="https://www.cnbc.com/2020/01/16/google-teams-up-with-airasia-to-launch-new-tech-academy.html">reported</a> on Wednesday.

<h3>What Happened</h3>

The &quot;AirAsia Google Cloud Academy&quot; will be managed by AirAsia&#39;s venture fund RedBeat Ventures and Google Cloud, according to CNBC.

The academy will be opened to all AirAsia employees in February, who want to gain technology skills to better suit AirAsia&#39;s &quot;current and future business operations,&quot; AirAsia Group President Aireen Omar <a href="https://asia.nikkei.com/Editor-s-Picks/Interview/AirAsia-and-Google-to-launch-Asia-s-first-tech-academy">told The Nikkei Asian Review</a>. It will be opened to&nbsp;the public by the year&#39;s end, Aireen said.

&quot;More jobs might become redundant in the next three years, so we are giving our employees the [opportunity] to reskill to suit the digital economy,&quot; Aireen told The Nikkei.

Some of the courses that the academy will offer include digital marketing, digital product management, software engineering, and building and designing tech infrastructure, according to The Nikkei.

AirAsia had partnered with Google Cloud in October 2018 to incorporate artificial intelligence and machine learning into its business, the Malay Mail <a href="https://www.malaymail.com/news/money/2018/10/10/airasia-collaborates-with-google-cloud-to-become-travel-technology-company/1681461">reported</a> at the time.

<h3>Why It Matters</h3>

The budget carrier has been increasingly expanding into other businesses as profits from the airline decrease due to rising fuel costs and industry competition.

AirAsia <a href="https://newsroom.airasia.com/news/santan-tco-opens-first-flagship-restaurant-in-kuala-lumpur">launched</a> its first restaurant in Kuala Lumpur December last year that serves the same food it does onboard the craft. The carrier said it planned to expand to 100 venues globally in the next five years.

The airline <a href="https://newsroom.airasia.com/news/airasia-group-berhad-third-quarter-2019-financial-results">reported</a> an 18% growth in revenue in the third quarter of 2019 at $761 million, with a 26% increase in revenue from supporting services.

<h3>Price Action</h3>

AirAsia&#39;s shares closed 0.72% higher at $0.4 in the otc market on Wednesday. The shares traded at $0.41 in Kuala Lumpur on Thursday.

AirAsia Bhd. (OTC: <a class="ticker" href="/stock/aiabf#OTC">AIABF</a>) reported a strong rise in its second-quarter net profit.

AirAsia's quarterly net profit jumped to 1.19 billion ringgits ($381.1 million), from MYR104.3 million, in the year-ago period. 

Its revenue gained 9.3% to MYR1.18 billion, versus MYR1.08 billion.

Hormel Foods Corp (NYSE: <a class="ticker" href="/stock/hrl#NYSE">HRL</a>) reported a decline in its Q4 net earnings. Hormel Foods' quarterly net earnings fell to $117.3 million, or $0.43 per share, from $121.1 million, or $0.45 per share, in the year-ago period. Its sales dropped to $2.1 billion from $2.06 billion. However, analysts were expecting a profit of $0.42 per share on sales of $2.13 billion. Hormel Foods forecast FY12 earnings in a range of $1.79 to $1.89 per share, versus $1.74 per share in fiscal 2011.

Campbell Soup Co (NYSE: <a class="ticker" href="/stock/cpb#NYSE">CPB</a>) reported a drop in its first-quarter profit. Campbell Soup's quarterly profit fell to $265 million, or $0.82 per share, from $279 million, or $0.82 per share, in the year-ago period. Campbell Soup had 322 million shares outstanding in the latest quarter, versus 338 million shares, in the year-ago period. Its revenue dropped to $2.16 billion, from $2.17 billion. However, analysts were expecting earnings of $0.79 per share on revenue of $2.21 billion.

Cubic Corp (NYSE: <a class="ticker" href="/stock/cub#NYSE">CUB</a>) reported an upbeat fourth-quarter profit. Cubic's quarterly net income climbed to $24.1 million, or $0.90 per share, from $13.3 million, or $0.49 per share, in the year-ago period. Its sales dropped to $346.9 million. However, analysts were expecting earnings of $0.77 per share on sales of $351.8 million.

Hanwha SolarOne Co (NASDAQ: <a class="ticker" href="/stock/hsol#NASDAQ">HSOL</a>) reported a wider-than-expected third-quarter loss and lowered its full-year shipment forecast. Hanwha SolarOne lowered its full-year module shipments forecast to 815 to 835 megawatts, versus 1 gigawatts. Hanwha SolarOne reported a quarterly net loss of $27.9 million, or $0.33 per American Depository Share (<a class="ticker" href="/stock/ads#">ADS</a>), versus a year-ago profit of $40.2 million, or $0.53 per ADS. Its revenue dropped to $225.4 million. Excluding items, Hanwha SolarOne posted a loss of $0.55 per ADS. However, analysts were expecting a loss of $0.08 per ADS on revenue of $278.8 million.

JA Solar Holdings Co (NASDAQ: <a class="ticker" href="/stock/jaso#NASDAQ">JASO</a>) swung to a Q3 net loss on Tuesday. JA Solar posted a quarterly loss of 376 million yuan ($59.1 million), or 2.28 yuan per share, versus a year-ago profit of 513.7 million yuan, or 3.14 yuan per share. Its revenue fell to 2.47 billion yuan from 3.62 billion yuan.

LTX Credence Corp (NASDAQ: <a class="ticker" href="/stock/ltxc#NASDAQ">LTXC</a>) reported a wider-than-expected first-quarter loss. LTX Credence projects Q2 loss of $0.15 to $0.20 per share on revenue of $26 to $30 million. Analysts were projecting a loss of $0.07 per share on revenue of $35.6 million. LTX Credence posted a quarterly loss of $4.9 million, or $0.10 per share, versus earnings of $19.7 million, or $0.39 per share, in the year-ago period. Excluding items, LTX Credence posted a loss $0.08 per share. Its sales declined 46% to $33.75 million. However, analysts were expecting a loss of $0.07 per share on revenue of $37.1 million.

DSW Inc (NYSE: <a class="ticker" href="/stock/dsw#NYSE">DSW</a>) reported upbeat third-quarter profit and lifted its full-year profit forecast. DSW projects comparable store sales to surge 7% to 8% this year. It projects FY earnings of $2.90 to $2.95 per share, versus its prior forecast of $2.70 to $2.85 per share. DSW reported its quarterly net income at $53.7 million, or $0.75 per share, versus a net loss of $3.3 million, or $0.16 per share, in the year-ago period. Its adjusted net income came in at $39.8 million, or $0.88 per share, versus net income of $35.5 million, or $0.79 per share, in the year-ago quarter. DSW's net sales climbed 8.5% to $530.7 million from $489.3 million. However, analysts were expecting earnings of $0.80 per share on revenue of $531.7 million.

Chico's FAS Inc (NYSE: <a class="ticker" href="/stock/chs#NYSE">CHS</a>) reported a weaker-than-expected third-quarter profit. Chico's quarterly net income dropped to $26.5 million, or $0.16 per share, from $28.8 million, or $0.16 per share, in the year-ago period. Excluding items, Chico's earnings came in at $0.18 per share. Chico's sales surged 11.5% to $538.5 million. However, analysts were projecting a profit of $0.20 per share on revenue of $548.9 million.

Daktronics Inc (NASDAQ: <a class="ticker" href="/stock/dakt#NASDAQ">DAKT</a>) reported downbeat second-quarter profit. Daktronics' quarterly earnings dropped to $4 million, or $0.09 per share, from $7 million, or $0.17 per share, in the year-ago period. Its revenue climbed 7% to $135.9 million. However, analysts were expecting earnings of $0.13 per share on revenue of $128.7 million.

Medtronic Inc (NYSE: <a class="ticker" href="/stock/mdt#NYSE">MDT</a>) reported a rise in its second-quarter earnings on Tuesday. Medtronic's quarterly earnings surged to $871 million, or $0.82 per share, from $566 million, or $0.52 per share, in the year-ago period. Excluding items, Medtronic earned $0.84 per share. Its revenue surged to $4.13 billion from $3.90 billion. However, analysts were expecting earnings of $0.82 per share on revenue of $4.07 billion.

Signet Jewelers Ltd (NYSE: <a class="ticker" href="/stock/sig#NYSE">SIG</a>) reported a better-than-expected quarterly profit. Signet's quarterly net income surged to $26.1 million, or $0.30 per share, from $6 million, or $0.07 per share, in the year-ago period. Its overall sales came in at $710.5 million. However, analysts were expecting earnings of $0.21 per share on revenue of $681.21 million.

George Weston Ltd (OTC: <a class="ticker" href="/stock/wngrf#OTC">WNGRF</a>) reported a 50% surge in its third-quarter profit. George Weston's quarterly earnings climbed to C$264 million, or C$1.94 per basic share, from C$176 million, or C$1.26 per basic share, in the year-earlier period. On an adjusted basis, George Weston earnings came in at C$1.44 per basic share. Its sales surged 2.4% to C$10.06 billion.

Cracker Barrel Old Country Store Inc (NASDAQ: <a class="ticker" href="/stock/cbrl#NASDAQ">CBRL</a>) reported better-than-expected first-quarter profit. Cracker Barrel's quarterly net income came in at $23.8 million, versus $23.7 million, in the year-ago period. Its GAAP EPS climbed to $1.03 from $1.01. Cracker Barrel's adjusted earnings came in at $1.09 per share. Its revenue came in at $598.4 million, versus $598.7 million. However, analysts were expecting earnings of $1.05 per share on revenue of $602.2 million.

LDK Solar Co (NYSE: <a class="ticker" href="/stock/ldk#NYSE">LDK</a>) swung to a Q3 net loss on Tuesday. LDK Solar posted a quarterly loss of $114.5 million, or $0.87 an American depositary share, versus a year-ago net income of $93.4 million, or $0.72 per ADS. Its sales fell to $471.9 million from $675.6 million. However, analysts were expecting a loss of $0.43 per share on revenue of $543.8 million. 

Pandora A/S (OTC: <a class="ticker" href="/stock/pndzy#OTC">PNDZY</a>) reported a 41% decline in its third-quarter net profit. Pandora's quarterly net profit dropped to DKK341 million, from DKK581 million, in the year-ago period. Analysts were expecting a net profit of DKK292.8 million. Pandora's earnings before interest and tax (EBIT) declined 32% to DKK506 million from DKK743 million. Pandora's sales dropped 12% to DKK1.57 billion, from DKK1.79 billion, versus analysts' estimates of DKK1.47 billion.

Mitchells & Butlers PLC (OTC: <a class="ticker" href="/stock/mbpff#OTC">MBPFF</a>) swung to a fiscal-year profit from a loss in the year-ago period. Mitchells & Butlers posted its earnings at 125 million pounds ($195.4 million), or 30.5 pence per share, versus a loss of £84 million, or 20.6 pence, in fiscal 2010. Its earnings before special items dropped to 27.7 pence per share from 29.4 pence per share. Its revenue dropped to £1.8 billion from £1.98 billion. 

Suntech Power Holdings Co (NYSE: <a class="ticker" href="/stock/stp#NYSE">STP</a>) swung to a Q3 loss. Suntech Power posted a quarterly net loss of $116 million, or $0.64 an American depositary share, versus a year-ago net income of $33.1 million, or $0.18 per ADS. Its revenue climbed to $809.8 million from $743.7 million. However, analysts were expecting a loss of $0.21 per share on revenue of $779.5 million.

Canadian Solar Inc (NASDAQ: <a class="ticker" href="/stock/csiq#NASDAQ">CSIQ</a>) swung to a Q3 net loss. Canadian Solar posted a quarterly net loss of US$43.9 million, or $1.02 per share, versus a year-ago net income of $20.3 million, or $0.47 per share. Its revenue climbed to $499.6 million from $377.2 million. However, analysts were expecting a loss of $0.52 per share on revenue of $497.9 million.

AirAsia Bhd (OTC: <a class="ticker" href="/stock/aiabf#OTC">AIABF</a>) reported a 53% drop in its fiscal third-quarter net profit. AirAsia's quarterly net profit declined to MYR152.3 million, from MYR327.3 million, in the year-ago quarter. Its revenue climbed 9.9% to MYR1.08 billion from MYR979.7 million. AirAsia's fuel expenses surged 45% to MYR421.2 million. Its staff expenses climbed 38% to MYR126.3 million.

Schaeffler Group reported around 31% drop in its Q3 net profit. Schaeffler's quarterly net profit declined to EUR102 million. Its revenue climbed around 10% to EUR2.70 billion. Schaeffler's earnings before interest and taxes (EBIT) gained around 17% to EUR466 million.

AirAsia Bhd (OTC: AIABF) reported a 53% drop in its fiscal third-quarter net profit. 

AirAsia's quarterly net profit declined to MYR152.3 million, from MYR327.3 million, in the year-ago quarter. Its revenue climbed 9.9% to MYR1.08 billion from MYR979.7 million.

AirAsia's fuel expenses surged 45% to MYR421.2 million. Its staff expenses climbed 38% to MYR126.3 million.


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