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Pre-commercialization actions: What Disney, Airbnb and DoorDash results reveal about the post-pandemic economy


The big question: As the coronavirus situation improves in countries like the United States, which trends of the past 14 months will have endurance, and which will be resigned to the past pandemic?

Airbnb, DoorDash and Disney (Dis), which released results after US markets closed on Thursday, gives an idea.

Airbnb: The company said interest in travel was on the rise again as vaccines became more widely available, indicating a surge in bookings in the UK immediately after UK Prime Minister Boris Johnson announced in February his intention to gradually come out of lockdown. For U.S. customers aged 60 and over, searches on Airbnb for summer travel increased by more than 60% between February and March.

The company is also poised for more customers to use Airbnb for long-term stays as they experience greater acceptance of remote work. He said nearly a quarter of stays in the last quarter were 28 days or more, up 14% from 2019. Shares are down slightly in pre-market trading.

DoorDash: People are still ordering a lot of food delivery even as restaurants are reopening for traditional meals. DoorDash reported a 198% jump in last quarter revenue to $ 1.1 billion even as it faced a labor shortage and increased its outlook for the full year.

“As markets continued to reopen and in-store meals increased in the United States, the impact on our order volume was smaller than expected, which contributed to a strong performance during the quarter. “the company said, while warning that this may be partially attributable to the stimulus controls. Shares are up nearly 9% in pre-market trading.

Disney: Streaming led Disney through the pandemic, with Disney + reaching over 100 million subscribers. Still, the biggest star in Disney’s media universe seems to shine a little less, pushing shares down 4%.

The company said Thursday that Disney + now has 103.6 million subscribers, below the 110 million Wall Street expected. This has made investors wonder: is it because people are getting vaccinated and moving away from streaming? Netflix also reported slow growth in subscriptions in the last quarter.

Down But Not Out: Disney said it remains on track to meet its long-term subscription goals despite the apparent slowdown. He is betting that as the pandemic subsides, it will be able to produce more films and shows, helping to attract new customers.

Whether it’s fair will become clearer in the months to come, which will pose the real test of whether people actually ditch their sweatpants, get out of the house, and rock the economy again.

It Might Be Easier To Get A Credit Card Without A Credit Score

For years, if you didn’t have a credit score, it was extremely difficult to get a credit card or certain types of loans. But a new plan among some of the nation’s biggest banks could help Americans with no traditional credit history get approved.

Ten banks – including JPMorgan Chase (JPM), Wells fargo (WFC) and US Bancorp (Usb) – have tentatively agreed to a plan for sharing data such as deposits to bank accounts and bill payment activities to help qualify borrowers without a traditional credit history, according to the Wall Street Journal.

The pressure for financial institutions to come to a data sharing agreement came from a program managed by the Office of the Comptroller of the Currency. The OCC has confirmed the existence of a plan, but details of the deal between the banks have yet to be worked out.

If the proposed arrangement goes through, that would mean that if you don’t have a credit score but have a bank account with Wells Fargo, for example, you can use that financial history to help you get a credit card. from another bank, such as JPMorgan Chase.

“This will give millions of Americans the ability to access the credit that is essential to building wealth – buying a home, starting a business or funding education,” said Trish Wexler, spokesperson for JPMorgan Chase. , at CNN Business.

The backstory: There are currently 53 million people without a credit score, according to the Fair Isaac Corporation, the creator of FICO credit scores. These disproportionately lower income consumers and people of color face higher borrowing costs because they are forced to turn to products like payday loans.

Banks and lenders refer to those without a credit history as “invisible credit.” This group can include young people or recent immigrants, as well as people who have not used credit for a long time or who have lost their access due to financial difficulties.

The business angle: Big banks may also be keen to revise their policies as newcomers online lose interest in the demand for their products.

“Some of this cooperation between the bigger banks can be a bit of a reaction to smaller banks and fintech companies encroaching on their space,” said Matt Schulz, chief industry analyst at LendingTree.

Target will temporarily stop selling collectible cards amid the frenzy

Target (TGT) has announced that it will stop selling collectible cards in its stores following a violent conflict at one of its stores – a sign of the overheating collectibles market.

The details: Last week, a target in Wisconsin was locked down after a man was physically assaulted by four other people for sports cards.

“The safety of our customers and our team is our top priority,” Target said in a statement. “As a precaution, we have decided to temporarily suspend the sale of MLB, NFL, NBA and Pokémon collectible cards in our stores, at [Friday]. “

The cards will still be available online, the company said.

Remember: the value of collectible cards has skyrocketed in recent months during the Covid-19 pandemic. This has sparked the interest of both amateur and professional investors looking to profit from spectacular returns.

Target previously limited card purchases to one item per day, saying customers lined up overnight to get their hands on hot items, per CNN affiliate WISN.

Walmart (WMT), for his part, said he would continue to sell cards in stores for the time being.

“We are in the process of determining what changes, if any, are necessary to meet customer demand while ensuring a safe and enjoyable shopping experience,” a spokesperson said in a statement.

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Data on US retail sales, import and export prices, and industrial production arrives at 8:30 a.m. ET.

Coming next week: Home Depot (High Definition) and Lowe’s (LOW) report income as the housing market booms

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