Airlines canceled over 2,700 U.S. flights on Sunday as a winter storm combining high winds and ice was poised to hit the U.S. East Coast over the holiday weekend, Reuters' Kanishka Singh. The flights canceled by 12:30 p.m. ET on Sunday included over 2,700 entering, departing from or within the United States, according to flight tracking website FlightAware.com. Over 1,500 flights were delayed, the data showed. American Airlines (AAL) had over 600 flight cancellations, the author notes. Almost 95% of the flights out of Charlotte Douglas International Airport in North Carolina, an American Airlines hub, were canceled, the FlightAware website showed. Other publicly traded companies in the space include Alaska Air (ALK), Delta Air Lines (DAL), JetBlue (JBLU), Southwest (LUV), Spirit Airlines (SAVE) and United Airlines (UAL).Reference Link

Chains such as Starbucks (SBUX) and Chipotle (CMG) said they are temporarily limiting operations at individual stores or regions as they face labor shortages and a rise in COVID-19 cases, The Wall Street Journal's Heather Haddon reports. Other restaurant operators said more of their staff are testing positive for the coronavirus in the Omicron surge than during the growth of the earlier Delta variant and are voluntarily closing for stretches as a result, the publication notes. Reference Link

Target's top executive said U.S. consumers will drive less and consolidate their shopping into fewer trips as they adjust to pricier gasoline and the highest inflation rate in almost four decades, Bloomberg's Brendan Case reports. Shoppers are also likely to eat more at home and seek cheaper generic-brand goods in an effort to ease the blow from rising prices, Chief Executive Officer Brian Cornell said Sunday at a National Retail Federation event in New York. Reference Link

Walmart is preparing to create its own cryptocurrency and collection of non-fungible tokens, filings with the U.S. Patent and Trademark Office show, setting the stage for meeting its customers in the emerging metaverse, Bloomberg's Brendan Case and Susan Decker report. The retailer sought several new trademarks in December that show it intends to make and sell virtual goods such as electronics, decor, toys, sporting goods and personal-care products, the authors note. The applications were among a flurry the company filed on Dec. 30, including three under "Walmart Connect" - the name of the company's existing digital advertising venture -- for a financial exchange for virtual currency and advertising. Applications also were filed for "Verse to Store," "Verse to Curb" and "Verse to Home" for shopping services. It's also seeking trademarks to apply the Walmart name and "fireworks" logo to heath-care services and education in virtual and augmented reality, the publication adds. Reference Link

DirecTV, which is owned by AT&T (T) and TPG (TPG) via a joint venture, plans to drop One America News Network, dealing a major blow to the conservative channel that's been criticized for spreading misinformation and had a loyal fan in former President Donald Trump, Bloomberg's Gerry Smith reports. The satellite-TV provider has notified OAN's owner, Herring Networks, that it plans to stop carrying the company's two channels when their contract expires. Herring Networks also owns AWE, a lifestyle channel that stands for "A Wealth of Entertainment." Reference Link

Activist shareholder Third Point argues that Royal Dutch Shell is worth more if the oil company were broken up, but if the business remains whole, two key factors could enhance its value-the promise to return 20% to 30% of its cash flow from operations to shareholders in dividends and buybacks to 2025, and its shift to low-carbon energy, Rupert Steiner writes in this week's edition of Barron's. This is in addition to Shell 's (RDS.A) plans for $7B of the $9.5B in proceeds from the sale of its Permian basin oil field to ConocoPhillips (COP) to be returned to shareholders, the author notes. Shell's transition to investing in low-carbon solutions is also key to its future growth, the publication adds. Shell's shares, along with many of its peers, have been more than halved since the beginning of the pandemic in January 2020. Now could be a buying opportunity, Steiner contends. Reference Link

This past week, Take-Two (TTWO) made a significant effort to right its ship. The company agreed to buy mobile-game maker Zynga (ZNGA) for $12.7 billion, Connor Smith writes in this week's edition of Barron's. Zynga gives Take-Two a larger roster of game developers along with a treasure trove of data and mobile-advertising resources, the author notes. Most of all, it brings scale, says Take-Two CEO Strauss Zelnick. The stock currently trades at about 23 times earnings estimates for the coming year, below a three-year average of 28 times. At that average multiple, Take-Two shares would be more than 20% higher, at $187. And with Zynga, Take-Two has taken control of its destiny, Smith contends.Reference Link

Adobe stock has been tanking recently-and it's time for it to make a stand. If it can't, long-term investors could be in for a world of hurt, Ben Levisohn writes in this week's edition of Barron's. At $520.60 a share, it is sitting near its 100-week moving average of about $500, which has served as support for the past nine years. And Adobe's relative strength index-a measure of whether a stock is overbought or oversold-fell to 34 early in the week, its most oversold level since 2011, the author notes. Together, they could combine to push the stock higher, the publication adds. Reference Link