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

Boeing's 737 Max 9 (NYSE:BA) fleet is grounded again, affecting airlines United (NASDAQ:UAL) and Alaska (NYSE:ALK). This adds to Boeing's struggles since the market crash during Covid and the previous global grounding after two fatal crashes in 2019. Boeing's CEO emphasized the need for quality over quantity in an all-hands meeting. The FAA has rejected Boeing's inspection standards proposal, and the planes will remain grounded until new standards are set. Boeing's stock may dip further, but a successful resolution could make it a buy. Airbus (OTC:EADSY) stands to benefit if Boeing fails to resolve its issues as airplane demand grows.

Portfolio Pulse from Thrash Capital

January 11, 2024 | 3:13 pm

Ryanair CEO Michael O'Leary stated that passengers are not concerned about flying on Boeing 737 aircraft despite recent safety issues. The FAA grounded 171 MAX 9 jets after a cabin panel incident on an Alaska Airlines flight. O'Leary confirmed that the issue does not affect Ryanair's MAX 8 or the MAX 10 models on order. He expressed confidence in Boeing's leadership but noted quality control issues at Boeing and supplier Spirit Aerosystems. Ryanair's stock (RYAAY) is trading higher by 0.89% premarket.

Portfolio Pulse from Nabaparna Bhattacharya

January 11, 2024 | 12:55 pm

Alaska Airlines has announced the cancellation of between 110-150 flights per day on its 737-9 Max aircraft, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 6:17 pm

Alaska Airlines has announced that as of January 10, it is still awaiting documentation from Boeing and the FAA to start inspections on its 737-9 Max fleet. Due to this delay, the airline has decided to cancel all flights involving the 737-9 Max aircraft through January 13.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 6:16 pm

Airline stocks are experiencing a surge in early 2024, with American Airlines, United Airlines, Delta Air Lines, and Southwest Airlines posting significant weekly gains. These gains are reflected in the U.S. Global Jets ETF, which includes these airlines as its biggest holdings. Despite the positive trend, airline stocks face potential headwinds such as economic slowdown, high interest rates, and geopolitical tensions affecting oil prices. Delta is favored by analysts with strong buy ratings, while American Airlines has announced expansion plans. Southwest Airlines is running a flash sale, and United Airlines is noted for its scale despite a high debt-to-asset ratio. An incident with an Air Alaska Group Boeing 737 Max 9 could lead to more affordable fleet replacements for airlines if Boeing reduces prices.

Portfolio Pulse from Neil Dennis

January 10, 2024 | 5:26 pm

Susquehanna analyst Christopher Danely downgraded Alaska Air Group (NYSE:ALK) from Positive to Neutral and set a price target of $40.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:12 am

Boeing's CEO addressed staff about the importance of ensuring customers trust the safety of their airplanes, particularly in light of the recent Alaska Air accident that significantly impacted customer confidence.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 9:46 pm

Alaska Air has cancelled approximately 109 flights scheduled for Wednesday due to the grounding of the Boeing 737-9 MAX aircraft, as reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 8:56 pm

Boeing Co (BA) is under scrutiny after a door plug dislodged from an Alaska Air Group (ALK)-operated 737 MAX 9, leading to the grounding of some jets by the FAA. Analysts from Goldman Sachs, Bank of America, RBC Capital Markets, and JPMorgan commented on the potential impact on Boeing's reputation and operations, maintaining their ratings but noting the reputational and potential financial risks. The incident could also affect Boeing's resumption of deliveries to China, although Chinese carriers do not currently operate MAX 9s.

Portfolio Pulse from Surbhi Jain

January 09, 2024 | 5:17 pm

U.S. stock futures indicate a potential downtrend on Tuesday after Monday's rally, with traders eyeing the upcoming inflation report and big bank earnings. Despite caution, a tech merger, Bitcoin ETF optimism, and rising oil prices could drive buying. Boeing's issues with the 737 Max 9 affected the Dow, but it recovered thanks to gains in Apple, Intel, Salesforce, and Walgreens. Juniper Networks surged on acquisition news by Hewlett Packard Enterprise, while Match Group rose on Elliott Management's stake. The International CES and JPMorgan Healthcare Conference may impact related stocks. Oil prices and Bitcoin are up, while Asian markets closed mostly higher.

Portfolio Pulse from Shanthi Rexaline

January 09, 2024 | 12:35 pm

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