Streetbeat News

ALK

Alaska Air Group, Inc.

https://www.alaskaair.com

Industry

Airlines, Airports & Air Services

Alaska Air Group, Inc., through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It flies to approximately 120 destinations throughout North America. Alaska Air Group, Inc. was founded in 1932 and is based in Seattle, Washington.

Open

51.50

Mkt cap

6.4B

Volume

1.6M

High

52.15

P/E Ratio

20.31

52-wk high

52.15

Low

50.99

Div yield

N/A

52-wk low

32.00

At the J.P. Morgan Industrials Conference, Alaska Air's CEO commented that the judge's decision on the JetBlue-Spirit deal is beneficial for Alaska Air. He also noted that Alaska Air's agreement with Hawaiian Airlines is distinct from the JetBlue-Spirit merger.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 3:42 pm

The US Justice Department has initiated a grand jury for a criminal investigation into a Boeing Co. door plug incident on an Alaska Airlines flight on Jan. 5. This move indicates a deepening probe into Boeing's potential criminal liability.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 5:16 pm

U.S. Transportation Secretary Pete Buttigieg announced the FAA will rigorously assess Boeing (BA) following a fuselage blowout on an Alaska Air (ALK) flight in January. Boeing faces a criminal investigation by the Justice Department after multiple flight incidents, including difficulty in locating records related to a malfunctioning door panel. United Airlines (UAL) also experienced incidents, highlighting aviation safety concerns. Boeing previously reached a $2.5 billion settlement with the Justice Department and is committed to a compliance program.

Portfolio Pulse from Shivani Kumaresan

March 11, 2024 | 10:17 am

Boeing Company (NYSE:BA) reported missing records for a critical component's elimination during the production of a 737 MAX 9, which malfunctioned mid-air. The National Transportation Safety Board (NTSB) found a door plug on an Alaska Air Group, Inc. (NYSE:ALK) 737 MAX 9 aircraft lacked essential bolts, leading to grounding by the FAA and a mandate for Boeing to address quality-control issues.

Portfolio Pulse from Nabaparna Bhattacharya

March 09, 2024 | 9:20 pm

Boeing Company (NYSE:BA) is revising its bonus structure to prioritize safety and quality, making them account for 60% of the payout in its commercial unit. This change, affecting over 100,000 nonunion employees, comes after safety incidents and FAA concerns. Alaska Air Group Inc (NYSE:ALK) experienced a door panel detachment on a 737 MAX 9, highlighting the safety issues. Boeing's shares dropped 0.99% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

March 08, 2024 | 11:24 am

National Transportation Safety Board Chair Homendy emphasized the need for more cooperation from Boeing in the investigation of an Alaska Airlines Max 9 incident during a Senate hearing. This call for increased collaboration highlights ongoing safety and regulatory scrutiny for Boeing and its aircraft.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 3:59 pm

Recent insider sales have been reported for Marriott International, MACOM Technology Solutions, Alaska Air, and Carvana. These sales come amidst various company-specific news, including financial results and analyst upgrades. Insider trading can indicate various strategic decisions or perspectives on the company's stock value.

Portfolio Pulse from Avi Kapoor

March 01, 2024 | 1:15 pm

Alaska Air Group's (NYSE:ALK) short interest has increased by 7.01% since the last report, with 3.22 million shares sold short, representing 2.9% of available shares. The current short interest suggests a bearish market sentiment towards ALK, although it has less short interest compared to its peers' average of 9.17%. The article suggests that an increase in short interest does not necessarily predict a near-term price fall.

Portfolio Pulse from Benzinga Insights

February 27, 2024 | 7:15 pm

Ryanair Holdings Plc is facing potential disruptions to its summer schedule due to Boeing Co's delivery delays of the 737 Max 10 models, with an expected reduction from 57 to around 50 aircraft by the end of June. This situation may lead to minor schedule cuts and a decrease in passenger forecast from 205 million to 200 million for the financial year starting in April. CEO Michael O'Leary expressed frustration and is discussing compensation with Boeing, also hinting at possible ticket price increases.

Portfolio Pulse from Vandana Singh

February 26, 2024 | 6:20 pm

Deutsche Bank analyst Michael Linenberg upgraded Alaska Air Group Inc (ALK), JetBlue Airways Corp (JBLU), and Southwest Airlines Co (LUV) to Buy, citing a more balanced domestic supply backdrop and various company-specific factors. Linenberg increased price targets for ALK to $51, JBLU to $9, and LUV to $42. The upgrades were based on expectations of benefits from seasonal shaping initiatives for ALK, management changes and activist involvement for JBLU, and network restructuring for LUV. The overall domestic airline industry is expected to see moderate growth in 2024.

Portfolio Pulse from Lekha Gupta

February 20, 2024 | 7:06 pm

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