An impressive round of morning earnings has the market advancing for a third straight day.
Stocks were up close to a percent this morning as several companies exceeded their quarterly expectations. Those earnings reports are a mere appetizer for this afternoon’s Apple (AAPL) earnings main course. For now, though, they are giving stocks an extra jolt of energy.
Here’s who reported earnings this morning – and how they fared:
- Delta Air Lines (DAL): January through March is traditionally the weakest season for airlines, but Delta filled more seats than expected in the first quarter. The Atlanta-based airline earned 10 cents a share, excluding items – ahead of Street estimates of 6 cents a share. The earnings beat is sending Delta shares sky-high – the stock is up 9% as of 11:25 ET this morning.
- US Airways’ (LCC) earnings also came in higher than expected. The company reported a profit of 31 cents a share vs. analyst estimates of 28 cents a share. The earnings beat has US Air shares up 5.3% in early trading.
- Travelers (TRV): Shares of the insurance giant are getting a double boost after the company not only topped earnings expectations but also increased its dividend. First-quarter profits improved 11% over a year ago and outpaced analyst estimates by 14%. A dividend increase from 46 cents a share to 50 cents a share also appealed to investors, pushing the stock up 2.4% today.
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