|Bid||34.93 x 1800|
|Ask||35.00 x 800|
|Day's Range||33.45 - 37.24|
|52 Week Range||17.51 - 63.44|
|Beta (5Y Monthly)||1.10|
|PE Ratio (TTM)||4.83|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Feb 19, 2020|
|1y Target Est||N/A|
It seems like the worst is over for the airlines industry as the U.S. economy has started to reopen.
Shares of American Airlines Group (NASDAQ: AAL) led the sector higher for the second straight day, up more than 20% at 11 a.m. EDT, but the rally was widespread. Shares of United Airlines Holdings (NASDAQ: UAL), Spirit Airlines (NYSE: SAVE), and JetBlue Airways (NASDAQ: JBLU) were up double-digits, and Delta Air Lines (NYSE: DAL), Southwest Airlines (NYSE: LUV), Hawaiian Holdings (NASDAQ: HA), Alaska Air Group (NYSE: ALK), and Allegiant Travel (NASDAQ: ALGT) gained more than 4% apiece.
U.S. President Donald Trump held a press conference on Friday morning following a jobs report from the Labor Department that blew economist expectations out of the water.In his speech, Trump noted that plenty of smart experts have missed the mark when it comes to the resiliency of the U.S. economy amid the COVID-19 outbreak, and he specifically mentioned Wall Street legend and Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B) CEO Warren Buffett."Warren Buffett sold airlines a little while ago. He's been right his whole life. But sometimes even somebody like Warren Buffett--I have a lot of respect for him--they make mistakes. They should have kept the airline stocks because the airline stocks went through the roof today and others did too. The whole market went through the roof," Trump said.Buffett On AirlinesBuffett sold Berkshire's entire stakes in Delta Air Lines, Inc. (NYSE: DAL), American Airlines Group Inc (NASDAQ: AAL), United Airlines Holdings Inc (NASDAQ: UAL) and Southwest Airlines Co (NYSE: LUV) back in April near their lowest points of the coronavirus sell-off.At Berkshire's annual shareholder meeting in early May, Buffett said he had been wrong to invest in airline stocks."I just decided that I'd made a mistake...in investing in the airlines business," Buffett said. "It's a very difficult business. The future is much less clear to me how the business will turn out."Since May 1, the four airline stocks Buffett sold are up between 40% and 90% each.Buffett & TrumpBuffett was a supporter of Trump's 2016 election opponent Hillary Clinton, but he has mostly remained silent on Trump since he took office."I'm not in the business of attacking any president, nor do I think I should be," Buffett said in a 2017 interview.On Friday, Trump said Americans who didn't panic and dump their stocks have been rewarded far quicker than many experts anticipated."If people didn't get rid of stocks in their 401(k)s, they're almost even. Think of it," Trump said.Benzinga's TakeA rebound in the stock market and the economy is a huge development when it comes to Trump's re-election prospects come November. Following Friday's rally, the SPDR S&P 500 ETF Trust (NYSE: SPY) is up 43.7% since March 23 and now down just 0.4% overall year to date.Do you agree with this take? Email email@example.com with your thoughts.Related Links:History Suggests Record 50-Day Stock Market Rally May Be Just The Beginning Here's What Elon Musk Thinks About Warren BuffettSee more from Benzinga * How Large Boeing, Delta Options Traders Are Positioning As Economy Reopens * Q1 13F Roundup: How Buffett, Einhorn, Ackman And Others Adjusted Their Portfolios * Bartstool's Dave Portnoy Breaks Down About The Importance Of Diversification(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The U.S. Transportation Department said Friday it will allow Chinese passenger air carriers to operate two flights after Beijing said it would ease coronavirus restrictions to allow in more foreign carriers. On Wednesday, Washington said it planned to bar all Chinese passenger airlines from flying to the United States by June 16 due to Beijing's curbs on U.S. carriers. The revised order Friday cuts in half the four weekly round trip flights Chinese passenger carriers have been flying to the United States and take effect immediately.
Delta stock has rallied furiously off lows along with other airline stocks amid signs of improving demand, but is DAL stock a buy now?
American Airlines (AAL) plans to boost flights by 74% in July, indicating that the coronavirus-led standstill in travel is over.
American Airlines' (AAL) projection to boost its July capacity hints at the gradual progress in the air-travel scenario.
Jim Cramer shares stock market news including the market outlook, selling Delta Airlines, and explaining why the U.S. needs another stimulus package.
Airline trade groups are making the case that the risk of getting COVID-19 on a flight is low.
Airlines are optimistic that more people will book flights this summer because passenger levels have been steadily increasing.
Shares of top airline stocks soared on Thursday after American Airlines (AAL) said it is planning on increasing flights for July amid a rise in demand and coronavirus lockdowns being lifted.
If you think that airfare and hotel rate trends will be uniformly characterized by steep discounting as travel reopens unevenly across the globe, then guess again. Travel businesses have pent-up demand in their favor, to be sure, but how hotels and airlines price their services in coming months will play a crucial role in travel's […]
Some of the gains are likely attributable to a short-squeeze, whereby investors who have bet against the stock must buy it to cover their positions. American is one of the most heavily shorted airline stocks.
(Bloomberg Opinion) -- American Airlines Group Inc. shares surged more than 35% on Thursday after the company signaled a rebound in air travel. If, like many Americans, you’re currently planning a 10-hour-plus summer road trip with the family you’ve been holed up with for months to avoid spending a fraction of the time with dozens of strangers on a plane, that may seem a bit odd.Maybe you’re the weird ones, you might think, as you search for the Transportation Security Administration checkpoint data you’ve seen referenced in many news articles. But you're still in the majority: Sure, traffic is up from the most restrictive lockdown days of April and March, but the number of U.S. fliers on Wednesday was just 13% of what it was the same time last year. Going further down the Internet rabbit hole, you might see that American’s head of personnel said in a memo literally a week ago that the carrier would need to dramatically shrink “for the foreseeable future” and cut 30% of its management and support staff. Welcome to the world of stock trading in the coronavirus era. These days, the actual numbers matter less to investors than momentum. Any sign of a recovery from the coronavirus destruction, however modest or nascent, is richly rewarded. That’s especially true for companies such as American, which had seen an elevated level of bearish bets made against it by short-sellers. These holders can be squeezed by unexpected good news, and they can magnify a rally as they scramble to buy back the stock to cover their wagers. To be fair, American did report good news on Thursday. The company said it was adding flights for July after seeing increased demand from leisure travelers for trips to states that have reopened, such as Florida, Georgia and South Carolina, as well as interest in visits to national parks in Utah, Wyoming, Montana and Colorado. That will boost July capacity to 40% of last year’s levels, compared with a June schedule that’s 30% of a year earlier and May operations that were a mere 20% of normal traffic. This kind of steady improvement is encouraging because it suggests that a recovery in air travel may not be the multi-year battle that many in the industry have indicated. That’s the glass-half-full take. The half-empty take is that July capacity will still be down 60% from a year earlier. However you slice it, that is still terrible and in any other environment would be a downright catastrophe. That first wave of returning passengers is also likely the easiest group to win back. A recovery in international and longer-haul business travel, where airlines make most of their money, will be much harder, with American restoring service to eight overseas destinations but delaying the return of other flights. American’s load factor, or the average percentage of filled seats, was 55% in the last week of May, up from 15% in April but still down significantly from 86.6% in the second quarter of last year. American hasn’t followed rival Delta Air Lines Inc. in guaranteeing an empty middle seat, though the carrier said it would offer an unspecified percentage of passengers the option to rebook on empty planes if their flight is relatively full and deemed “eligible.” A lack of social distancing on flights has elicited grumbles on social media from those who have been brave enough to fly during the pandemic, and poor experiences won’t encourage those people to get back on a plane again soon.Perhaps most important, yet another sizable uptick in fresh jobless claims this week raises the question of how many people will be financially capable of paying for flights this year, even if they’re comfortable with the concept of plane travel. Despite its positive tone on Thursday, American itself has yet to walk back any of its own comments about the need for severe cuts to its staff. “Aviation is still in a fragile state,” Vertical Research Partners analyst Rob Stallard wrote in a note on Thursday. “There is a clear risk that aero share prices have got ahead of the fundamentals here.”So go ahead, travel — and buy travel-related stocks — but do it at your own risk. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The U.S. Global Jets exchange-traded fund soared 8% Thursday, extending a run that's taken the fund's share price up nearly 40% over the past month. JETS offers investors a way to bet on the airline industry, and airline stocks popped Thursday as investors focused on economic activity returning to normal. Shares of American Airlines Group Inc. were up 26% in the early afternoon, Delta Airlines Inc. shares rose nearly 11%, and United Airlines Holdings Inc. shares jumped nearly 15%. As previously reported, JETS recently passed $1 billion in assets, as investors continue to believe in the business case for the airlines' services once the worst of the coronavirus lockdowns come to an end.
Airline shares soared higher at the open on Thursday, propelled by a move by American Airlines Group (NASDAQ: AAL) to aggressively boost its flight schedule for July in response to growing demand for travel. Shares of American were up 11% as of 10 a.m. EDT, while shares of Spirit Airlines (NYSE: SAVE) were 13% higher.
With demand for air travel dropping sharply, carriers like American Airlines (AAL) and United Airlines (UAL) are looking to slash their personnel in a cost-cutting bid.
The IATA forecasts global airline passenger revenue decline of approximately $314 billion during 2020, raising concerns for U.S. airline companies.
Wall Street awaits U.S. unemployment data; Slack and Broadcom report earnings; Delta extends social distancing measures; ZoomInfo's IPO is priced.
Helane Becker, Cowen Senior Research Analyst, joined Yahoo Finance's The Final Round to discuss the rally airline stocks saw today and the new that American Airlines plans to fly 55% of its domestic schedule in July.