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

Stock futures are down in premarket trading amid a risk-off sentiment triggered by Moody's downgrade of China's credit outlook. The iShares 20+ Year Treasury Bond ETF (TLT) is up, while Bitcoin (BTC) and SPDR Gold Trust (GLD) see minor losses. US-listed Chinese stocks, including PDD, BIDU, TME, JD, and BABA, are down. GitLab (GTLB) and The J.M. Smucker Company (SJM) are up on positive earnings and raised guidance, respectively. Take-Two Interactive (TTWO) is down due to a game trailer leak.

Portfolio Pulse from Piero Cingari

December 05, 2023 | 1:39 pm

The CNN Money Fear and Greed index indicated improved market sentiment, remaining in the 'Greed' zone with a reading of 68.4. U.S. stocks closed lower on Monday, with the S&P 500 falling after a strong close on Friday. Bitcoin surpassed $41,000, and gold reached a record intraday high. U.S. factory orders declined by 3.6% in October. Alaska Air Group's shares dropped over 14% after announcing the acquisition of Hawaiian Airlines for $18 per share. Sectors like real estate and health care closed higher, against the general market trend. Investors are looking forward to earnings from Toll Brothers, AutoZone, and The J. M. Smucker Company.

Portfolio Pulse from Lisa Levin

December 05, 2023 | 7:09 am

Stocks opened December with losses amid reduced expectations for a Fed rate cut in March 2024. Treasury yields rose, affecting stocks and commodities, with the S&P 500, Nasdaq, and Dow Jones all falling. Small-cap stocks and Bitcoin gained, while commodities and tech stocks declined. Sector ETFs saw mixed performance, with healthcare and consumer staples stable, but communication services and technology sectors down. Notable stock movements included gains for Coinbase, SAIC, Uber, Gamestop, and Spotify, while Alaska Air Group fell after announcing an acquisition of Hawaiian Holdings, which surged.

Portfolio Pulse from Piero Cingari

December 04, 2023 | 7:32 pm

U Power Limited (NASDAQ:UCAR) shares plummeted by 54% after announcing a follow-on offering of 10 million units at $1.20 each. EyePoint Pharmaceuticals (NASDAQ:EYPT), Hawaiian Holdings (NASDAQ:HA), and Alterity Therapeutics (NASDAQ:ATHE) saw significant gains following positive trial results, acquisition news, and conference presentations, respectively. SilverSun Technologies (NASDAQ:SSNT) surged after a $1 billion investment announcement. Other notable movers included Bit Brother (NASDAQ:BETS), Lucy Scientific Discovery (NASDAQ:LSDI), and View, Inc. (NASDAQ:VIEW). On the downside, NexImmune (NASDAQ:NEXI), Meta Materials (NASDAQ:MMAT), and Clean Earth Acquisitions Corp. (NASDAQ:CLIN) experienced substantial losses. Alaska Air Group (NYSE:ALK) announced plans to acquire Hawaiian Holdings, causing its own shares to drop by 15.1%.

Portfolio Pulse from Lisa Levin

December 04, 2023 | 6:10 pm

During Monday's intraday session, several industrial stocks experienced significant movements. Hawaiian Holdings (HA) saw a substantial increase of 187.2%, while View (VIEW) and Nxu (NXU) also saw notable gains. Mesa Air Group (MESA), Polar Power (POLA), and Intuitive Machines (LUNR) shares moved upwards as well. Conversely, BioNexus Gene Lab (BGLC), Applied UV (AUVIP), Alaska Air Group (ALK), Virgin Galactic Holdings (SPCE), ShiftPixy (PIXY), and Xos (XOS) experienced declines during the session.

Portfolio Pulse from Benzinga Insights

December 04, 2023 | 5:30 pm

U.S. stocks traded lower with the Dow Jones, NASDAQ, and S&P 500 all falling. U.S. factory orders decreased by 3.6% in October, more than the expected 2.8% decline. EyePoint Pharmaceuticals, Hawaiian Holdings, and SilverSun Technologies saw significant stock price increases due to positive company-specific news. Conversely, U Power, Meta Materials, and Virgin Galactic Holdings experienced substantial drops in their share prices. Gold and silver prices also fell, while oil saw a slight decrease.

Portfolio Pulse from Lisa Levin

December 04, 2023 | 5:21 pm

Alaska Air Group, Inc. (ALK) shares dropped over 15% after announcing an acquisition deal with Hawaiian Holdings, Inc. (HA). The deal, valued at a 270% premium over HA's last closing price, is expected to close in 12-18 months. Raymond James analyst Savanthi Syth downgraded ALK from Strong Buy to Market Perform, citing the complexity of the deal and macro uncertainty as factors that could negatively affect sentiment and limit near- to medium-term upside.

Portfolio Pulse from Priya Nigam

December 04, 2023 | 3:46 pm

Science Applications International Corporation (SAIC) reported Q3 results with a slight revenue decline but beat consensus estimates and raised FY24 guidance, causing its shares to surge by 6.9%. Other stocks also moved higher, including Hawaiian Holdings (HA) after an acquisition announcement by Alaska Air Group (ALK), and several companies like Wallbox (WBX), CleanSpark (CLSK), and Carvana (CVNA) due to various positive developments. Uber (UBER) rose after news it would join the S&P 500 index.

Portfolio Pulse from Lisa Levin

December 04, 2023 | 3:33 pm

The Nasdaq Composite fell over 100 points on Monday, with the Dow and S&P 500 also trading lower. Consumer staples shares rose, while information technology shares saw a decline. Alaska Air Group Inc (ALK) announced an acquisition of Hawaiian Holdings Inc (HA) for approximately $1.9 billion, including HA's net debt. EyePoint Pharmaceuticals (EYPT), Hawaiian Holdings (HA), and Alterity Therapeutics (ATHE) saw their shares rise significantly. U Power (UCAR), Dune Acquisition Corporation (DUNE), and NexImmune (NEXI) experienced notable declines in their share prices. Oil and gold traded down, while European and Asian markets showed mixed results.

Portfolio Pulse from Lisa Levin

December 04, 2023 | 2:58 pm

U.S. stock futures indicate a weak opening as investors react to Fed Chair Powell's comments on potential policy tightening. Gold prices hit record highs amid geopolitical tensions, while Bitcoin soars past $40,000. Crude oil prices drop due to OPEC+ output cuts and demand concerns. Premarket trading sees SPY and QQQ ETFs down, while individual stocks like COIN, UBER, SPOT, SAIC, and ALK show significant movements. ALK's planned acquisition of HA causes a surge in HA's stock.

Portfolio Pulse from Piero Cingari

December 04, 2023 | 2:14 pm

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