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

A U.S. appeals court has temporarily halted the Biden administration's rule requiring airlines to disclose fees upfront, citing potential irreparable harm to carriers. The rule aimed to enhance consumer transparency but faced strong opposition from major airlines, including American Airlines, Delta Air Lines, United Airlines, JetBlue Airways, and Alaska Airlines.

Portfolio Pulse from Benzinga Neuro

July 30, 2024 | 8:54 am

Boeing Co (NYSE:BA) is trading lower in premarket after agreeing to finalize a guilty plea to a criminal fraud conspiracy charge, paying at least $243.6 million for breaching a 2021 agreement with the U.S. Justice Department. Boeing will invest $455 million over three years to enhance safety and compliance programs. An independent monitor will oversee compliance, with annual progress reports and a three-year probation period. Boeing acknowledged allowing risky work at its factories and failing to ensure accurate airplane record keeping. The Justice Department highlighted ongoing safety and quality issues, including a January incident with an Alaska Air Group Inc (NYSE:ALK) 737 MAX. Boeing stock has lost more than 15% in the last 12 months. Investors can gain exposure to the stock via IShares U.S. Aerospace & Defense ETF (BATS:ITA) and Invesco Aerospace & Defense ETF (NYSE:PPA).

Portfolio Pulse from Shivani Kumaresan

July 25, 2024 | 1:46 pm

Traders are closely monitoring Hawaiian Holdings as unconfirmed reports suggest that the Department of Justice (DOJ) is unlikely to approve its sale to Alaska Air.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 4:41 pm

Top Wall Street analysts have updated their outlooks on several major stocks. Notable changes include downgrades for Lennar Corporation, Chuy’s Holdings, Comerica Incorporated, and Redwire Corporation, while NVIDIA Corporation and International Flavors & Fragrances Inc. received upgraded price targets. The S&P 500 logged its worst weekly decline since April, reflecting decreased investor optimism.

Portfolio Pulse from Avi Kapoor

July 22, 2024 | 1:17 pm

Morgan Stanley analyst Ravi Shanker maintains an Overweight rating on Alaska Air Group (NYSE: ALK) but lowers the price target from $75 to $70.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 10:20 am

U.S. Transportation Secretary Buttigieg is monitoring the impact of an IT outage across all transportation sectors. Airlines have been reminded of their responsibilities amid the outage. There is no indication of an impact on the FAA or other U.S. transportation systems. Spot transportation issues are expected as systems get back online by Friday, with hopes for normalization by Saturday.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2024 | 2:42 pm

The market experienced a risk-off day with major indices trading in the red. The VIX spiked over 10%, and semiconductor stocks remained weak due to concerns over U.S. chip export restrictions to China. Eli Lilly and Novo Nordisk faced significant declines due to competitive threats from Pfizer and Roche. Economic data showed rising jobless claims, and the U.S. dollar rose as a safe haven.

Portfolio Pulse from Piero Cingari

July 18, 2024 | 6:05 pm

Domino's Pizza shares fell over 11% after reporting mixed quarterly results, missing sales estimates and suspending its guidance on global net store growth. Other notable stock movements include significant gains for Onconetix, Silo Pharma, and Chuy's Holdings, and sharp declines for Agenus, Leslie's, and Alaunos Therapeutics.

Portfolio Pulse from Avi Kapoor

July 18, 2024 | 5:19 pm

Alaska Air executive reports a significant shift in demand from domestic travel since 2019, indicating a change in consumer travel preferences.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 3:57 pm

Alaska Air executive announced that domestic industry capacity is expected to increase by about 3% year-over-year in Q3, compared to a 6% increase in Q2. The international vs. domestic traffic mix has not yet normalized.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 3:56 pm

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