Delta Air Lines Reports Q4 Results, Joins United Airlines, American Airlines And Other Big Stocks Moving Lower On Friday
Portfolio Pulse from Avi Kapoor
Delta Air Lines, Inc. (NYSE:DAL) reported Q4 FY23 results with operating revenue growth of 5.9% Y/Y to $14.22 billion and adjusted EPS of $1.28, beating consensus. Despite this, DAL shares fell 7.9%. Other stocks also moved lower, including United Airlines (NASDAQ:UAL) and American Airlines (NASDAQ:AAL), which dropped in sympathy with Delta. Various other stocks across different sectors also recorded losses on Friday.
January 12, 2024 | 3:39 pm
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NEGATIVE IMPACT
American Airlines shares tumbled 8% to $13.42, also in sympathy with Delta's earnings report, reflecting sector-wide concerns.
Similar to United Airlines, American Airlines' stock decline is likely due to negative sentiment in the airline sector following Delta's earnings report. The stock movement suggests a broader concern for the sector's near-term prospects.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Delta Air Lines reported strong Q4 earnings but saw its stock price fall by 7.9% to $38.92, indicating a negative market reaction to the news.
Delta's stock price decline despite positive earnings suggests that investors may have had higher expectations or there are concerns about future guidance. The market reaction is clear and negative in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
United Airlines shares dropped 8.6% to $40.70, likely due to a negative sentiment spillover from Delta's earnings report and guidance.
United Airlines' stock decline is attributed to a sympathy move with Delta, as no specific news for United was reported. The sector often moves in tandem, and negative news from one major player can affect others.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80