Ticker: Galvin seeks $50M heating aid reserve; Airbnb posts $1.2B 3Q profit 

Whenever lawmakers get around to considering a closeout budget bill, Secretary of State William Galvin wants them to bulk it up with $50 million more to help Bay Staters heat their homes this winter.

Galvin’s office announced Tuesday that the Democrat would file an amendment to the pending supplemental budget once it begins to move that would create a $50 million reserve in the care of the state treasurer to fund home heating oil supply, renewing a push he made in September.

That money could be used to offer guarantees or loans to Massachusetts fuel wholesalers so they can acquire more inventory or to assist individual homeowners with the cost of purchasing home heating oil, Galvin said.

“No matter how you heat your home, prices are going to be much higher this winter than they were last year,” Galvin said in a statement.

Airbnb posts $1.2B 3Q profit

Airbnb reported a record $1.21 billion profit for the third quarter as bookings and average daily rates increased, and the company said Tuesday that demand for short-term rentals remains strong despite uncertainty over the economy.

The profit and bookings were both less than Wall Street expected, however. The company said bookings growth will slow in the fourth quarter while average daily rates will also be pressured.

Airbnb shares fell 7% after about two hours of extended trading.

Airbnb shares have dropped nearly 35% this year despite the recovery in travel, a highly profitable first half of the year, and relentlessly upbeat commentary from CEO Brian Chesky and other company leaders.