26.68 -0.22 (-0.82%)
After hours: 7:56PM EST
|Bid||26.50 x 800|
|Ask||26.70 x 2900|
|Day's Range||26.26 - 27.11|
|52 Week Range||24.23 - 37.23|
|Beta (5Y Monthly)||1.64|
|PE Ratio (TTM)||7.10|
|Earnings Date||Apr 23, 2020 - Apr 27, 2020|
|Forward Dividend & Yield||0.40 (1.53%)|
|Ex-Dividend Date||Feb 03, 2020|
|1y Target Est||35.83|
Airlines are suspending scheduled flights to and from China amid weak demand caused by the coronavirus outbreak that originated in Wuhan, Hubei Province, China.
The Trump administration is reportedly considering a temporary ban on all flights from China to the U.S. in response the fast-spreading coronavirus outbreak.
Earlier in the day, the airline announced that it expects to hire 2,800 people across Alaska Airlines and Horizon Air in 2020.
The Port of Seattle-owned Sea-Tac Airport hired two local consultants from Ballard and spent a year and just under $300,000 on the sweeping effort.
Dallas Fort Worth International Airport will begin screening passengers for symptoms of the deadly novel coronavirus, an airport spokesperson confirmed Tuesday. Robert Redfield, director of the Centers for Disease Control and Prevention, said during a Tuesday press conference passenger screening will increase to 20 U.S. airports, up from the current five. "A team of public health professionals from the CDC will execute the monitoring program as soon as their team is in place," said an airport spokesperson.
A nearly weeklong rally for vaccine and diagnostics developers looking to capitalize on the coronavirus outbreak ended on Tuesday.
Airline stocks were mostly higher Tuesday, bouncing from a sharp two-day selloff related to concerns over the rapid spread of the deadly coronavirus out of China. The NYSE Arca Airline Index rose 0.9%, after tumbling 4.8% the previous two sessions to close Monday at an 8-week low, while the S&P 500 bounced 1.1% after falling 2.5% the past two days. Based on an analysis of the impact of other deadly pandemics, analyst Ken Herbert at Canaccord Genuity said that while the current coronavirus outbreak is still in the very early stages, the risk to worldwide air travel and the aerospace sector is "substantial," as the eventual impact could be worse than previous pandemics this millennium based on the inital outbreak. Herbert looked at the impact of the SARS outbreak in 2003, the avian flu pandemic in 2005 and the MERS outbreak in 2015. "[W]e believe that all things considered, traffic tends to recover relatively quickly after a pandemic outbreak," Herbert wrote in a note to clients. "Moreover, there does not seem to be a clear lasting impact on the stocks...as a result of these outbreaks." Shares of American Airlines Group Inc. rose 1.4%, United Airlines Holdings Inc. slipped 0.6%, Delta Air Lines Inc. edged up 0.7% and Boeing Co. fell 0.5%. Over the past two days, shares of American had tumbled 9.3%, United had shed 8.5%, Delta lost 5.7% and Boeing eased 0.4%.
An American executive said that Sabre's acquisition of Farlogix would likely lead to higher costs and make it harder to book flights with the carrier, according to a report from Bloomberg Law
STOCK ALERT Falling. The three major U.S. stock market indexes dropped sharply as worries grew about the spread of the coronavirus. Travel, gambling and technology stocks took significant hits. The Dow Jones Industrial Average dropped 369 points and the S&P 500 fell 1.
Shares of airlines took a tumble Monday, as the rapid spread of the coronavirus out of China triggered travel bans, with particular weakness in carriers with a global footprint. American Airlines Group Inc.'s stock sank 7.1% to pace the losers in both the Dow Jones Transportation Average and the S&P 500 . The Dow transports were also led lower by shares of United Airlines Holdings Inc. , down 5.1%, and Delta Air Lines Inc. , which fell 4.6%. Elsewhere, shares of Hawaiian Air parent Hawaiian Holdings Inc. lost 4.8%, JetBlue Airways Corp. gave up 2.8%, Southwest Airlines Co. slipped 1.5% and Alaska Air Group Inc. dropped 2.5%. The Dow transports fell 232 points, or 2.1%, while the NYSE Arca Airline Index slid 3.3% and the S&P 500 was down 1.5%.
Rating Action: Moody's assigns B1 CFR to Aeroméxico; B2 to proposed notes. New York, January 24, 2020 -- Moody's Investors Service (Moody's) assigned a B1 Corporate Family Rating (CFR) to Grupo Aeroméxico, S.A.B. de C.V. (Aeroméxico.) and B2 to its proposed USD400 million senior unsecured global notes to be issued by its fully owned subsidiary Aerovías de México, S.A. de C.V. and unconditionally guaranteed by Aeromexico. This is the first time Moody's assigns a rating to Aeromexico.
Did Friday's selloff catch you off guard? The S&P 500 shed over 1% at one point, as investors book profits and pare down risk ahead of the weekend in the stock market today.The coronavirus continues to drive the narrative. While the World Health Organization said on Thursday that the virus strain not yet demanding of international emergency, traders and investors are unsure how to process the situation.InvestorPlace - Stock Market News, Stock Advice & Trading TipsFor many observers though, it's simply an opportunity to sell off. Meaning that, the market has been too hot and any excuse to pullback a bit is in play. Stocks have been on a steady ascent, and at this point, even an 8% to 10% correction from the highs would still leave the technicals in pretty good shape.The coronavirus has a few memory sensors tingling back to late-Q3 early-Q4 2014, when the Ebola scare sent the market lower by almost 10%. And remember, that was mainly out of Africa. There are a lot more people in China doing a lot more traveling and working in a much larger economy. Click to Enlarge Source: Chart courtesy of StockCharts.comSo if the headlines continue to worsen, perhaps we'll continue to see some air leave the market. Movers in the Stock Market TodayBoeing (NYSE:BA) was one of the wildest movers today. Shares sank on reports that the company is mulling a production cut for its 787 Dreamliner jet. So how did the stock surge from the lows and end higher by 1.7%?Reports from the FAA now suggest that the 737 MAX may be reinstated before mid-year. Earlier this week, BA shares sold off on reports of a software issue and a possible delay of the 737 MAX until June or July. Friday's news also sent Southwest Airlines (NYSE:LUV) from negative to positive territory, and helped alleviate some of the losses in American Airlines (NYSE:AAL) and United Airlines (NYSE:UAL). * 7 'A'-Rated Dividend Stocks That Provide Inflation-Beating Income Broadcom (NASDAQ:AVGO) initially jumped over 3% to new 52-week highs, although most of those gains evaporated on the back of market-wide selling. In any regard, shares were on the rise after the company agreed to two multi-year deals to supply wireless components to Apple (NASDAQ:AAPL). The agreement could be worth up to $15 billion in revenue for AVGO. AppleSpeaking of Apple, the company has reportedly garnered more than 33 million U.S. subscribers for its Apple TV+ service. That's behind Netflix's (NASDAQ:NFLX) 61.3 million subscribers and Amazon's (NASDAQ:AMZN) 42.2 million Prime Video subs, but ahead of Disney's (NYSE:DIS) Disney+ subscribers of 23.2 million.Honestly though, the figures for both Disney+ and Apple TV+ are impressive given that both platforms just launched a few months ago. It may make competition even harder for Comcast's (NASDAQ:CMCSA) coming Peacock service.Lastly for Apple, the stock received yet another price target hike from Wedbush analyst Dan Ives. Ives has been bullish on Apple for a while now, but took his price target from $350 to $400 on more 5G optimism.That wasn't the only call regarding Apple and 5G, although the sentiment is not shared. Rosenblatt analysts argued that "the market has become too enthusiastic about the upcoming 5G cycle. We expect the cycle to be similar to a regular smartphone upgrade cycle (or even slower than a regular upgrade cycle) due to consumers waiting for 5G networks to get better and 5G phone prices to drop."While the analyst raised their price target by $100, it was only up from $150 to $250, which doesn't exactly come across as bullish as Apple recently hit a high of $323. Heard on the StreetDisney Shanghai will be closed on Saturday, as to not aid in the spread of the coronavirus. That's even as the Chinese New Year gets underway. That didn't stop Morgan Stanley analysts from feeling bullish on the stock though. They upped their price target to $170.That's also despite the breakdown on the chart.Keybanc analysts are feeling bullish on big tech. In particular, they like Facebook (NASDAQ:FB) and Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL), raising their price target to $263 and $1,749, respectively. Higher valuations, strong growth and free cash flow should drive the stocks higher, they say.Finally, Intel (NASDAQ:INTC) stock tacked on 8.1% after better-than-expected fourth-quarter results. In fact, INTC smoked earnings and revenue estimates and provided robust guidance.However, that didn't stop Loop Capital from downgrading the stock from "hold" to "sell." Although they did raise their price target from $50 to $59.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long AVGO, AMZN, AAPL and DIS. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks on the Move Thanks to the Davos World Economic Forum * Invest in America's Most Trusted Brands With These 7 Stocks to Buy * 7 Earnings Reports to Watch Next Week The post Stock Market Today: Rally Over?; Apple TV+ CountÂ appeared first on InvestorPlace.
Two senior Sea-Tac Airport staffers explain how they developed plans to add a terminal and 19 gates to meet the projected demand of 56 million passengers by 2027.
Zacks.com featured highlights include: ArcBest, American Airlines, AmerisourceBergen, Owens & Minor and Commercial Metals
So far, 18 fatalities and more than 600 are affected by coronavirus in China and the virus is spreading across the boundary, spooking investors.
Per a report by U.K.-based flight data information firm OAG, the prolonged 737 Max grounding is estimated to have hurt global airline industry revenues by $4.1 billion in 2019.