DAL - Delta Air Lines, Inc.
Chart Events
Short-term KST
Performance Outlook
- Short Term2W - 6W
- Mid Term6W - 9M
- Long Term9M+
| Previous Close | 23.16 |
| Open | 23.24 |
| Bid | 22.56 x 4000 |
| Ask | 22.66 x 3000 |
| Day's Range | 22.23 - 23.40 |
| 52 Week Range | 17.51 - 63.44 |
| Volume | 37,139,330 |
| Avg. Volume | 49,434,292 |
| Market Cap | 14.472B |
| Beta (5Y Monthly) | 1.27 |
| PE Ratio (TTM) | 4.18 |
| EPS (TTM) | 5.43 |
| Earnings Date | Jul 09, 2020 - Jul 13, 2020 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | Feb 19, 2020 |
| 1y Target Est | 37.07 |
Fair Value
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- Reuters
U.S. grants tentative OK for 15 air carriers to suspend service to 75 airports
The U.S. Transportation Department said late Friday it had granted tentative approval to 15 airlines to temporarily halt service to 75 U.S. airports because of the coronavirus pandemic. Airlines must maintain minimum service levels in order to receive government assistance but many have petitioned to stop service to airports with low passenger demand. Both United Airlines and Delta Air Lines won tentative approval to halt flights to 11 airports, while JetBlue Airways Corp, Alaska Airlines and Frontier Airlines were approved to stop flights to five airports each.
- Benzinga
Air France-KLM bids adieu to A380 jumbo jet
Air France-KLM Group (FP: AF) said it has permanently eliminated double-deck Airbus A380 aircraft from its fleet, joining other airlines that also are rationalizing fleets to contain costs amid a dramatic downturn in business caused by the coronavirus pandemic.The current economic hardship accelerated Air France-KLM's previous plan to retire its nine A380s by the end of 2022 — part of a five-year restructuring plan announced last November to improve profitability. The fleet renewal effort at the time was motivated by a desire to switch to more fuel-efficient aircraft, such as Airbus A350s and Boeing 787s, that produce fewer carbon emissions.The group owns or is financing five of the massive planes, with four more under operating leases from outsourced air carriers. The company said Wednesday it will take a 500 million euro ($548 million) impairment loss for the reduced value of the aircraft in the second quarter.Delta Air Lines (NYSE: DAL) owns 10% of Air France-KLM.The A380 was already headed to the dustbin after Airbus last year said it would stop producing the planes after 2021. The plane never fulfilled expectations as a people mover and wasn't ideal for cargo operations.Other airlines, including Delta, Lufthansa, and American(NASDAQ: AAL), are also accelerating retirement plans for older aircraft because of their high operating costs and limited revenue potential in a depressed market. Beyond having too many airplanes that can't be adequately filled with paying customers in the next few years, airlines say they won't need as many workers. This week, Austrian Airlines and labor unions reached agreements on how to share the pain in order to avoid layoffs.Austrian, which has pulled all flights through the end of May, said employees have agreed to work shortened schedules and not take wage increases or inflation adjustments until 2022 in recognition that air travel demand will be slow to recover.Austrian Airlines, part of the Lufthansa Group, employs 7,000 people.Also, worker representatives agreed to reduce ground-staff salaries from March 20, 2022, until the end of 2023. The pay cuts range between 2% and 15%, depending on wage scales. Cockpit and cabin crews will forego between 5.9% and 12.7% of their salaries between 2022 and 2024 as well as pension fund contributions. Taken together, the labor changes are expected to save 80 million euros per year through 2024, or 20% of personnel costs.The Austrian Airlines situation underscores the difference between European and U.S. companies in how to deal with workforces during an economic shock. European governments have programs to subsidize the wages of dislocated workers so employers can keep them on the payrolls. In the U.S., employees are often laid off and have to look for new work. A significant chunk of the U.S. emergency funding is designed to help workers who have already lost their jobs.U.S. airlines are holding the line on involuntary furloughs at the moment thanks to tens of thousands of employees taking voluntary unpaid leave and billions in federal bailout money designed to pay workers through the end of September. Airlines claim the funds aren't enough to cover everyone at their normal schedule because they are operating with skeleton crews, so wages are paid on reduced hours. And executives have signaled that permanent layoffs are coming in the fall unless many workers take early retirement deals.On Thursday, several senators asked Delta and JetBlue to stop scaling back employees' hours, saying it violates the intent of the government's payroll assistance. United Airlines has reversed its decision to cut back hours for all employees and is allowing them to volunteer for reduced hours."These airlines are claiming that salaried employees are more protected under the CARES Act than hourly workers," said Angelo Cucuzza, special assistant to the president at the Transport Workers Union of America, in a statement. "The intent of Congress is clear: Airlines that take federal subsidies must use that money to keep their workers whole — whether they're turning a wrench, working an airport ticket counter or sitting at a desk. We're trying to save the economy and you can't do that when you're pushing workers into unemployment offices."In related news, Air Canada on Friday announced an abridged summer schedule with 97 destinations compared to 220 last year as travel restrictions loosen and it slowly rebuilds its network.See more from Benzinga * Freight markets remain stable – On The Spot (with video) * FreightWaves Flashback 1982: Customs agents go after containerized contraband * STB asks Class I railroads to report on chemicals and plastics data(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- Reuters
U.S. senators urge Delta, JetBlue to restore employee hours
Delta and JetBlue have already received a portion of $25 billion in CARES Act money meant to protect airline workers' jobs and pay rates until Sept. 30 as the industry weathers a severe business slump during the coronavirus crisis. Delta is set to receive $5.4 billion and JetBlue $935 million. "You should not take one penny more of bailout funds unless you are prepared to protect your workers' jobs, pay and benefits," 13 senators including Elizabeth Warren and Kamala Harris, all Democrats, wrote to the airlines in two letters.
- Yahoo Finance Video
Why COVID-19 will be most catastrophic for American Airlines: Risk firm on airline industry
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- Motley Fool
Stock Market News: Will Airline Stocks Rise When Flyers Return?
The S&P 500 (SNPINDEX: ^GSPC) lost 12 points to 2,937, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) fell 27 points to 9,258. One industry that has a big task ahead of it is the airline business. Ever since local shutdowns went into effect, airline travel volumes have plunged.
- Zacks
Why Is Delta (DAL) Up 3% Since Last Earnings Report?
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Airport travelers jump to 2-month high, but airline stocks fall
Data from the Transportation Security Administration (TSA) show the number of travelers that went through TSA checkpoints on Thursday topped 300,000 for the first time in two months, but was still down significantly from a year ago. The daily average per week through Saturday is on track to show improvement for the fourth-straight week. Total TSA traveler throughput reached 318,449 on May 21, down 88% from a year ago, but up 38% from Wednesday. The daily throughput was the highest since March 23, and was nearly four times the COVID-19 pandemic low of 87,534 recorded on April 14. The daily average for the week to date has increased to 247,455, the highest since the week ended March 22. Meanwhile, airline stocks fell Friday, with the U.S. Global Jets ETF shedding 1.8%, to underperform the S&P 500 , which was down 0.2%. Among the more active Jets components, shares of United Airlines Holdings Inc. shed 2.3%, Delta Air Lines Inc. dropped 2.5% and American Airlines Group Inc. declined 1.2%.
- InvestorPlace
Delta Stock Is Ready to Sail Through Coronavirus Clouds
Perhaps the sector that has taken the biggest hit due to the novel coronavirus is the travel industry, and airlines like Delta Air Lines (NYSE:DAL) stock.Source: NextNewMedia / Shutterstock.com Even the industry's bigwigs are struggling to maintain a positive outlook. In an interview conducted on May 12 on NBC, Boeing (NYSE:BA) CEO Dave Calhoun warned that it might take three to five years before the industry recovers to pre-pandemic levels, and at least one major airline could go out of business by the end of this year.Nevertheless, if there were is one airline that you would bet to bounce back, it would be Delta. The company has an innovator in the industry by revamping its pricing model and investing in foreign companies to provide a cost-effective solution to their domestic needs.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Excellent Penny Stocks Ready to RoarDelta and Southwest Airlines (NYSE:LUV) are the industry's creme de la creme, outpacing the competition in generating healthy profits and free cash flows consistently. I think that Delta will survive this crisis and come out of this stronger because of its proactive approach towards controlling the situation.Let's take a closer look at some of these reasons: Delta Is Cutting CostsEvery airline company is looking to downsize; Delta is no different. The company is looking to reduce its costs by 50% by the second quarter. The reductions are likely to result in $5 billion in savings, which should be enough to offset the $200 million in unplanned expenses due to the pandemic.It also scaled back on its capital expenditures by $3 billion and is suspending its stock repurchase program and future dividend payments.Apart from this, the company announced that it would be parking 650 planes and instituting a company-wide hiring freeze along with voluntary leaves for its employees. Executive management will also be taking it on the chin by accepting significant pay reductions in the upcoming quarters.To provide further cushion, Delta is receiving $5.4 billion as part of the government's CARES Act, a $50 billion relief program specifically for the airline sector. It includes $3.8 billion for direct relief and another $1.6 billion low-interest, unsecured 10-year loan. Delta has already received $2.7 billion of funds and expects the rest in the next three months.Equity dilution due to the stock warrants offered to the governments is negligible, worth 1% of Delta stock at $24.39 per share over five years. Furthermore, the company can also get a hold of an additional $4.6 billion in secured loans, which it hasn't applied for as yet.Delta's management has disclosed a liquidity target of $10 billion for the second quarter, an increase of 66% from the previous quarter. These efforts are likely to reduce the cash burn by at least $50 million by the second quarter, which was at $100 million in the first. A Focus on the Long TermWith operations at a halt, Delta is making the most of this opportunity to focus its efforts on its long-term plays. The first area that the company is looking at involves fleet simplification, which has been one of its long-term goals for quite some time now.At its investor day last December, management talked about capitalizing on a massive opportunity to move from a mishmash fleet to one that is simpler and optimized. CEO Ed Bastian talked about this fleet transportation in the first-quarter earnings call, where he said, "Well, certainly anything that was scheduled to retire over the next five years [is on] an accelerated path towards retirement."The company will be retiring the last of its 76 MD-88s and MD-90s in early June. Its regional partner SkyWest (NASDAQ:SKYW), announced that Delta would not be renewing its flying contracts for 55 of its CRJ-200s. Additionally, it also plans to retire a few of its older Boeing 757s and 767s.These optimizations are likely to simplify operations, reduce schedule constraints, limit the frequency of training evens, and reduce fuel and maintenance costs.Another one of the company's long-term plays its critical airport infrastructure projects. The executives believe that the pandemic will speed up the construction process due to fewer constraints. With air travel muted for the foreseeable future, and if Delta gets a waiver under the revised slot usage rules, it could reduce its construction costs and streamline project timelines.The reduced project costs will directly benefit the company in controlling its debt burden. Shorter project timelines will benefit the company through dual taxiways, and the increased gate flexibility will serve mainline and regional jets. DAL Stock at a GlanceLike all airline stocks, DAL stock witnessed a massive dip in its share price since last year. It shed approximately 67% of its value since December and has been on a predominantly negative streak since then.Analysts have a relatively neutral earnings rating for the stock considering how to beat its first-quarter EPS beat estimates by 26.7%. Furthermore, they feel that the EPS will worsen in the second quarter to -$4.39 but will recover -$1.76 in the third quarter.Price targets for the DAL stock suggest shares are trading at a 40% bargain to the current share price of $23. However, the difference between the high and low estimates is $26, which is a testament to the volatility of the stock in these uncertain times. The Bottom Line on DAL StockThe coronavirus pandemic pulverized the Delta airlines stock, but it seems to have the best recovery plan compared to its competitors. It has enough liquidity to see off the crisis, and its cost-saving efforts have controlled its cash burn rate.The company is using this time to aggressively pursue its long-term plays, which will bear fruit in the near future. Therefore, despite the slowdown, DAL stock is still a buy.As of this writing, Muslim Farooque did not hold a position in any of the securities mentioned above. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * America's Richest ZIP Code Holds Shocking Secret * 1 Under-the-Radar 5G Stock to Buy Now * The 1 Stock All Retirees Must Own The post Delta Stock Is Ready to Sail Through Coronavirus Clouds appeared first on InvestorPlace.
- Motley Fool
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Delta (DAL) Plans to Add to Summer Capacity on Some Positives
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Southwest Airlines Will Fly Again
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JetBlue, Democrats spar over pay cuts: 'Literally no hours for our crew members to work'
JetBlue Airways on Thursday defended itself against accusations from a group of Democratic senators who called out the air carrier out for cutting wages and hours.
- Benzinga
How Large Boeing, Delta Options Traders Are Positioning As Economy Reopens
Boeing Co (NYSE: BA) shares traded higher by 4.26% on Thursday and Delta Air Lines, Inc. (NYSE: DAL) shares gained 1.94% as the stock market experienced yet another volatile trading session.A flurry of large Boeing and Delta option trades on Thursday morning were mixed in nature, with one deep-pocketed Boeing bull making a massive bet on a sharp recovery for the stock.The Boeing, Delta Trades Benzinga Pro subscribers received 35 option alerts related to unusually large trades of Boeing and Delta options. Here are a handful of the largest: * At 9:30 a.m., a trader bought 1,000 Boeing call options with a $130 strike price expiring on May 29 at the ask price of $9.60. The trade represented a $960,000 bullish bet. * At 9:50 a.m., a trader bought 1,370 Delta put options with a $45 strike price expiring on Jan. 15, 2021 at the ask price of $23. The trade represented a bearish bet worth $3.15 million. * At 10:10 a.m., a trader bought 542 Boeing call options with a $145 strike price expiring on May 29 near the ask price at $4.558. The trade represented a $247,043 bullish bet. * At 10:48 a.m., a trader bought 462 Boeing call options with a $150 strike price expiring on Jan. 15, 2021 near the ask price at $27. The trade represented a bullish bet worth $1.24 million.Of the 35 total large Boeing and Delta option trades on Tuesday morning, 20 were calls that were purchased at or near the ask or puts sold at or near the bid, trades typically seen as bullish. The remaining 13 trades were calls sold at or the near the bid or puts purchases at or near the ask, trades typically seen as bearish.Why It's Important Even traders who stick exclusively to stocks often monitor option market activity closely for unusually large trades. Given the relative complexity of the options market, large options traders are typically considered to be more sophisticated than the average stock trader.Many of these large options traders are wealthy individuals or institutions who may have unique information or theses related to the underlying stock.Unfortunately, stock traders often use the options market to hedge against their larger stock positions, and there's no surefire way to determine if an options trade is a standalone position or a hedge. In this case, given the relatively large sizes of the largest Boeing and Delta trades, they could potentially represent institutional hedges.Travel Stocks In Limbo Boeing and Delta shares are each down more than 55% year-to-date, as the COVID-19 outbreak has decimated the travel industry. Back in March, both companies announced they were suspending their buybacks and dividends.But while the outbreak rages on, travel stocks have gotten a boost in recent days thanks to cautiously optimistic signs the economy is opening back up and potential progress on developing a COVID-19 vaccine.On Thursday, Credit Suisse initiated coverage of battered travel stocks Royal Caribbean Cruises Ltd (NYSE: RCL) and Norwegian Cruise Line Holdings Ltd (NYSE: NCLH). In addition, RBC initiated coverage of Boeing with an Outperform rating.Although the near-term outlook for travel stocks will continue to be difficult, analysts seem to see the downturn as fully priced into the stocks. Instead, they are focusing more on a potential bullish long-term risk-reward skew.Bullish sentiment among StockTwits messages mentioning Boeing was at 80.9% on Thursday, its highest level of 2020. BA Chart by TradingView new TradingView.widget( { "width": 680, "height": 423, "symbol": "NYSE:BA", "interval": "D", "timezone": "Etc/UTC", "theme": "light", "style": "1", "locale": "en", "toolbar_bg": "f1f3f6", "enable_publishing": false, "allow_symbol_change": true, "container_id": "tradingview_a50c0" } ); Benzinga's Take While the majority of the large option trades in Boeing and Delta on Thursday morning were bullish, the largest trade was the $3.1 million bearish Delta put purchase. The break-even price for those puts is $22, suggesting at least 5.1% downside for Delta shares over the next eight months.Do you agree with this take? Email feedback@benzinga.com with your thoughts.Related Links:JPMorgan Option Trader Bets M On Downside Ahead How To Read And Trade An Option AlertSee more from Benzinga * Q1 13F Roundup: How Buffett, Einhorn, Ackman And Others Adjusted Their Portfolios * Bartstool's Dave Portnoy Breaks Down About The Importance Of Diversification * Here's How Large Boeing Option Traders Are Reacting To Abysmal Monthly Orders(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- Reuters
U.S. senators urge Delta, JetBlue to backtrack on employee hour cuts
A group of U.S. senators is urging Delta Air Lines Inc and JetBlue Airways Corp to immediately reverse their decisions to reduce employees' hours, saying that the moves are inconsistent with the requirements of taxpayer-funded payroll assistance. Delta and JetBlue have already received a portion of $25 billion in CARES Act money meant to protect airline workers' jobs and pay rates until Sept. 30 as the industry weathers a severe demand drop in business because of the coronavirus crisis. Delta is set to receive $5.4 billion and JetBlue $935 million.
- Barrons.com
Small-Caps Have Seen More Dividend Pressure Than Large-Caps Have
Some 52 large-cap S&P 500 companies have cut or suspended their dividends this year. But between the mid-cap S&P 400 and small-cap S&P 600, there have been roughly 110 cuts and suspensions.
ABC News VideosDelta reveals new precautions for flights
Delta executives consider permanent changes to airplane seating as the industry makes fast changes to improve safety and build passenger confidence amid the pandemic.
- Yahoo Finance
Risk firm: 'American is most at risk' of coronavirus default among US airlines
The summer travel season is a big revenue generator for U.S. airlines but the coronavirus threatens the carriers and risk assessment firm RapidRatings warns American Airlines is the most at risk of going bankrupt.
- Benzinga
Vision Of Higher Net Sales For Airlines Could Be A Mirage
Don't mistake green shoots in travel demand for the summer as a sign that recovery from the coronavirus crisis is around the corner for the airline industry, an executive for a major U.S. airline cautioned Tuesday.After suspending most flight activity because of widespread quarantines, air carriers this week announced plans for incremental capacity increases in June and July to accommodate an uptick in passenger interest, with bookings some days slightly outpacing refunds for the first time in two months. More planes in the air is also good news for shippers, who will have more avenues to transport high-value goods.Delta Air Lines (NYSE: DAL) is adding 100 flights in June to make sure there are enough seats for customers while adhering to a 60% load factor for social distancing reasons, but Chief Financial Officer Paul Jacobson told investors not to draw any hard conclusions about the state of the industry because the data is too limited and preliminary to be meaningful.  "We think this is really driven by leisure bookings for domestic travel...But we have to be careful that those actually translate into trips and don't just cancel as people book travel on the expectation and the hope that the environment gets better," he said in a virtual presentation during a Wolfe Research transportation conference.Aviation analysts and executives say people may not want to plan an expensive vacation if they can't do much when they get to their destination because entertainment venues, shops and restaurants are closed, or severely limited in the services they can provide. Plus, the millions of people who lost their jobs, took pay cuts or used up vacation and sick leave during the lockdown may not have the financial ability to take a trip anytime soon.Corporations are also going to be cautious about bringing back employees to offices and sending them on trips, let alone allowing visitors into their facilities, according to Jacobson.Airlines are raising their level of hygiene to give customers confidence to start flying again and experts say everyone in the travel chain, from hotels to car rental companies, has to do their part. * Delta is not looking at its hygiene practices as a competitive advantage, Jacobson added, "because we think this is an industry issue, so we're collaborating with others in the industry as well as with others outside the industry."Aircraft manufacturer Boeing Co (NYSE: BA) last week said it would offer its expertise to help airlines make travel safer. Liquidity and Scenario PlanningDelta's top priorities, besides deep cleaning and health, are building up liquid assets and right-sizing the company to align with lower demand. Airlines have warned that they don't expect travel demand and revenues to recover to 2019 levels for at least three years. Jacobson, who postponed his retirement to help steer Delta through the coronavirus crisis, predicted load factors would be below 75% in 2021, compared to the high 80s last year. The airline expects to reduce its cash burn to $40 million per day by the end of the second quarter and to zero by the end of the year through its ongoing austerity program, according to Jacobson."Every dollar that we save in the enterprise is a dollar we don't have to borrow tomorrow," he said, "and that's important for the long-term restoration of the health of the balance sheet."Paul Jacobson (Photo: Delta)Last week Delta, the world's second largest airline in terms of scheduled seats, announced plans to retire its entire fleet of 18 Boeing 777 aircraft by the end of 2020. It also will retire high-maintenance MD-88 and MD-90 aircraft in June, earlier than previously planned. The 47 remaining MD-88s and 29 MD-90s, which were workhorses in Delta's domestic network for years, were set to exit the fleet by the end of the year.Jacobson said fleet simplification would help Delta structurally reduce maintenance, fuel and training costs for an airline with 13 fleet families and 25 aircraft types. It is noteworthy that the airline is shutting down relatively young aircraft and ones that have been recently retrofitted. Ten 777 Long Range aircraft average 11 years old and eight 777-200 Extended Range aircraft average 20.3 years of age, according to Cowen airline analyst Helane Becker. The refreshing process, which included installation of seat-back entertainment systems, LED ambient lighting and reconfigured seating in the main cabin, began in 2018 and ended last year.Going forward, Delta's fleet will consist of Embraer 175 regional jets, Boeing 737s, and Airbus A220, A321, A330 and A350 aircraft. American Airlines has also pulled forward planned retirements of older, less efficient aircraft, as the airline industry engages in a crash campaign to save every possible dollar while the coronavirus pandemic depresses passenger travel to historic lows. Delta will need fewer pilots after putting dozens of planes to pasture and temporarily parking hundreds more until travel demand bounces back. As Reuters first reported, Delta sent a memo to its 14,500 pilots last week saying it would have 7,000 more pilots than needed in the fall, and after mandatory retirements expects to have 2,500 to 3,500 more pilots than needed in the third quarter of 2021.Many pilots and other employees could be let go Oct. 1, when government payroll assistance for domestic carriers ends. Cowen estimates Delta has 11,000 more flight attendants than it will need for the foreseeable future.More than 40,000 Delta workers have taken voluntary, unpaid leave ranging from one to 12 months. Jacobson said Delta will soon begin offering voluntary separation and early retirement packages and hopes those programs will address most of the required headcount reductions.Delta has raised more than $10 billion in the past 90 days and expects to have $12 billion on hand at the end of June.The Atlanta-based carrier has borrowed aggressively even though pricing for loans and bonds is higher than before. The company wanted to quickly fill cash reserves so it could have time to adjust to the new business environment. If more cash was raised than needed it can be applied to maturing debt next year, Jacobson said. Synchronizing the airline's network with demand and adding capacity only when bookings meaningfully pick up is critical."We really can't afford to have false starts. That's going to be the challenge for the industry. We have to think about restarting in the face of demand information that's probably going to bounce around before it starts to settle out on positive trends," Jacobson said. "The cost structure has to be flexible to drive that positive cash flow at lower load factors, but also be scalable in case demand comes back faster than we think."Photo: Steve Lynes/FlickrSee more from Benzinga * 'Worst' Market In 47 years As Restructuring At Covenant Continues * Riskpulse Calls for Active 2020 Hurricane Season * Salesforce Labs Unleashes Supplyforce Bot Communication Tool(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
ReutersUS STOCKS-Wall St climbs on stimulus hopes, as S&P, Nasdaq hit multi-month highs
The three major averages on Wall St notched their fourth gain in five sessions on Wednesday as investors again bet on a swift economic recovery from coronavirus-driven lockdowns and the potential for more stimulus measures from the Federal Reserve. The S&P 500 stands at a two-month high and was briefly above its 100-day moving average, a closely watched technical indicator that has acted as a resistance level. The Nasdaq finished at its highest close in three months and was 4.5% below its Feb. 19 record close, as shares of Facebook Inc and Amazon.com Inc surged to all-time highs.
- Skift
The Travel Industry Refunds Conundrum: Survival Versus Doing the Right Thing
Prior to the coronavirus pandemic, leading disruptive influences in travel included alternative accommodations and artificial intelligence, but during the current crisis refunds and cancellations have shattered finances, travel policies, business models, and partner and customer relationships. The fallout has triggered flexible cancellation policies, booking incentives, and some attempts at fence-mending. Consider Airbnb, which saw reservations […]
- Reuters
US STOCKS-Stocks rally on reopening, stimulus hopes
The three major averages on Wall St were poised for their fourth gain in five session on Wednesday as investors again bet on a swift economic recovery from coronavirus-driven lockdowns and the potential for more stimulus measures from the Federal Reserve. The S&P 500 stands at a two-month high and was briefly above its 100-day moving average, a closely watched technical indicator that has acted as a resistance level. The Nasdaq was trading at its highest level in three months and was about 5% below record levels, as shares of Facebook Inc and Amazon.com Inc surged to all-time highs.
- Motley Fool
Why Delta Air Lines, American Airlines, and Southwest Airlines Stocks Are Up Wednesday
Airline stocks were getting a second wind in early afternoon trading Wednesday, with shares of Delta Air Lines (NYSE: DAL) leading the charge with a 4.1% gain as of 12:15 p.m. EDT today. Credit for the surge must go to Delta. Speaking on Fox Business this morning, Delta CEO Edward Bastian predicted that after months of flight reductions, Delta will probably execute a turn in the near future and begin slowly increasing capacity again in June and July.
