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Delta Loses Altitude After Clipping Third-Quarter Guidance

TheStreet

Shares of Delta Airlines lost altitude on Wednesday making it TheStreet's Move of the Day. The airline dropped after it said it forecasts third-quarter revenue per seat mile to increase 2% to 3%, lower than its previous estimate of a 2% to 4% increase. Operating margins for its quarter ended September were also reduced to 15% to 16%, 100 basis points lower on the high-end than previously forecast. The reason for clipped guidance? Last month’s Ebola outbreak as well as continued geopolitical conflict in Russia and the Ukraine and in the Middle East which deterred international air travel. Shares of Delta slid 5.2%.