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

52.93

Mkt cap

6.8B

Volume

1.8M

High

54.00

P/E Ratio

21.00

52-wk high

54.00

Low

52.93

Div yield

N/A

52-wk low

32.00

Alaska Airlines and United Airlines have extended cancellations of Boeing 737 Max 9 flights through Wednesday, according to Reuters. This decision may affect the operational schedules and customer bookings of both airlines, as well as reflect on Boeing's ongoing challenges with the 737 Max series.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 6:24 pm

Boeing's Commercial Airplanes CEO announced that the company will allow 737 operators to perform extra inspections at its production facilities. Additionally, Boeing will hire an independent party to assess its airplane production practices.

Portfolio Pulse from Charles Gross

January 15, 2024 | 1:28 pm

Boeing Commercial Airplanes CEO announced that Boeing will implement extra quality inspections for the 737 Max following an incident with an Alaska Airlines aircraft. The new inspections will focus on work done by Spirit Aerosystems, particularly before Max 9 door plugs are dispatched to Boeing.

Portfolio Pulse from Charles Gross

January 15, 2024 | 1:26 pm

Major indexes ended higher last week, with the S&P 500, Nasdaq, and Dow seeing gains. Inflation rose to 3.4% YoY in December, potentially affecting markets and Fed policies. JPMorgan Chase reported strong earnings, while Bank of America saw revenue decline, Wells Fargo's profits increased, and Citigroup announced job cuts. The SEC approved spot Bitcoin ETFs. Microsoft overtook Apple as the most valuable company, Tesla's sales growth outpaced legacy automakers, and Cathie Wood disclosed a significant personal investment in Bitcoin. Alibaba faced scrutiny from Congresswoman Laurel Lee's stock sale, Solana's price dropped, and Boeing dealt with a 737 MAX 9 incident.

Portfolio Pulse from Michael Cohen

January 13, 2024 | 3:03 pm

Apple Inc. (AAPL) faced a week of varied developments including a delay in the launch of the next-gen AirTag, board member retirements, security concerns over AirDrop, and an iPhone surviving a 16,000-foot drop. The AirTag's second-gen launch is postponed to 2025 due to overstock. Al Gore and James Bell retired from the board, with Wanda Austin proposed as a new member. Chinese researchers claim to have cracked AirDrop, potentially compromising user security. An iPhone fell from an Alaska Air Group (ALK) flight and survived. The ITC rejected Apple's plea to suspend an import ban on certain Apple Watch models.

Portfolio Pulse from Benzinga Neuro

January 13, 2024 | 9:56 am

Passengers on an Alaska Airlines flight operated by a Boeing 737 Max 9 filed a class action lawsuit against Boeing due to an emergency landing caused by a plug door blowing out. The incident resulted in physical and emotional trauma for passengers. Boeing's CEO Dave Calhoun acknowledged the defect, and the FAA has opened an investigation into Boeing's safety standards. Boeing shares dropped 2.3% on Friday, totaling a 12.5% loss since the incident. Spirit AeroSystems, a subcontractor, is also facing a separate lawsuit for quality failures.

Portfolio Pulse from Neil Dennis

January 12, 2024 | 8:24 pm

A major winter storm in the Midwest is expected to impact various sectors, with potential benefits for retailers like Home Depot and Lowe's, and AutoZone due to increased sales of winter essentials. Douglas Dynamics may gain if the winter is harsh, as it manufactures snow plows and salt spreaders. Insurers could face high claims, affecting the SPDR S&P Insurance ETF. Airlines are experiencing delays and cancellations, with negative sentiment impacting stocks like United, Delta, and American Airlines.

Portfolio Pulse from Neil Dennis

January 12, 2024 | 7:54 pm

Airbus SE delivered a record 735 commercial aircraft in 2023, an 11% increase from 2022, with 2,319 gross orders. Boeing Company, on the other hand, delivered 528 aircraft and secured 1,314 net new orders in 2023. Boeing's shares have been declining since the Alaska Air Group incident. Airbus' new orders include 18 A350-1000s and 15 A321neos from EVA Air, and 20 A350-1000s with options for 20 more from Delta Air Lines. Airbus shares (EADSY) rose by 2.36% to $40.78 recently.

Portfolio Pulse from Nabaparna Bhattacharya

January 12, 2024 | 5:42 pm

Over 1,600 flights were canceled in the U.S. due to a severe winter storm causing power outages and disruptions. Delta Air Lines, Southwest Airlines, SkyWest, and United have all experienced significant cancellations and delays. United is also dealing with regulatory issues regarding the Boeing 737 MAX 9 jets after an incident with an Alaska Air Group flight. Shares of Delta Air Lines dropped 8.2% amid these disruptions.

Portfolio Pulse from Shivani Kumaresan

January 12, 2024 | 3:45 pm

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.

Portfolio Pulse from Avi Kapoor

January 12, 2024 | 3:39 pm

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