What's Going On With Airline Stocks Wednesday?
Portfolio Pulse from Adam Eckert
Airline stocks, including United Airlines (UAL), American Airlines (AAL), Delta Air Lines (DAL), Southwest Airlines (LUV), JetBlue Airways (JBLU), and Spirit Airlines (SAVE), saw an uptick Wednesday following United Airlines' better-than-expected financial results for the first quarter. United Airlines reported a revenue of $12.539 billion, surpassing the consensus estimate of $12.4 billion, and an adjusted quarterly loss of 15 cents per share, beating analyst estimates for a loss of 57 cents per share. The company also reiterated its full-year 2024 earnings expectations and updated its aircraft delivery schedule.
April 17, 2024 | 12:53 pm
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American Airlines saw its stock price increase by about 1.77% following United Airlines' positive earnings report. AAL is set to report its Q1 financial results on April 25.
American Airlines' stock price increase is likely influenced by United Airlines' positive earnings, suggesting a potentially positive outlook for AAL's upcoming Q1 report.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Delta Air Lines' stock was up 1.18% following United Airlines' earnings announcement. Delta had already reported its quarterly results last week.
Delta's stock price increase can be attributed to the positive sentiment in the airline sector following United Airlines' earnings beat, despite DAL having already reported its results.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
JetBlue Airways saw a 1.38% rise in its stock price following United Airlines' earnings announcement. JetBlue is set to report its Q1 earnings on April 23.
JetBlue's stock price increase is likely influenced by the positive earnings report from United Airlines, indicating a favorable market sentiment towards airlines and raising expectations for JBLU's upcoming earnings.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Southwest Airlines experienced a 0.5% increase in its stock price in the wake of United Airlines' positive financial results. LUV is scheduled to report its Q1 results on April 25.
The uplift in Southwest Airlines' stock price is likely due to the positive momentum in the airline sector created by United Airlines' earnings report, with investors looking forward to LUV's own Q1 results.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
Spirit Airlines' stock was up about 1.5% following United Airlines' positive earnings report. Spirit is not due to report its Q1 results until early May.
The increase in Spirit Airlines' stock price is likely a result of the positive sentiment generated by United Airlines' earnings beat, suggesting optimism for SAVE's forthcoming Q1 earnings.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
United Airlines reported better-than-expected Q1 financial results, with revenue of $12.539 billion and an adjusted quarterly loss of 15 cents per share, surpassing estimates. The company also confirmed its full-year 2024 earnings forecast.
United Airlines' positive earnings report and reaffirmation of its 2024 earnings outlook likely instill investor confidence, driving short-term stock price appreciation.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100