Corporations Just Beginning to Tally Sandy's Costs

NEW YORK (AP) --€” Corporate America is just starting to add up its losses from Superstorm Sandy, expected to be one of the most expensive storms in U.S. history.

Delta Air Lines (NYSE: DAL  ) and Verizon (NYSE: VZ  ) were two of the first major companies to formally indicate the obvious, saying Friday that they will lose money because of the storm.

Delta had to cancel thousands of flights, while Verizon had cell towers blown out of commission and its New York offices flooded by the storm that thrashed the mid-Atlantic and the Northeast.

The corporate bill is sure to swell as casinos, insurance companies, and retailers tally the damage.

Companies such as Lowe's (NYSE: LOW  ) and Home Depot (NYSE: HD  ) , however, could benefit as people load up on generators and other supplies needed for the rebuilding effort.

Motley Fool newsletter services recommend The Home Depot and Lowe's Companies. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2092738, ~/Articles/ArticleHandler.aspx, 12/19/2014 9:29:13 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement