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 Air Group (NYSE: ALK) reported Q2 2024 adjusted EPS of $2.55, beating the estimate of $2.39, but sales of $2.897 billion missed the $2.945 billion estimate. EPS decreased by 15% year-over-year, while sales increased by 2.08%.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 9:24 pm

The NTSB has scheduled 20 hours of hearings over two days to investigate the emergency involving an Alaska Airlines Boeing 737 Max 9 on January 5. The hearings will review FAA oversight of Boeing and Spirit AeroSystems.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 4:53 pm

A midair incident involving a Boeing 737 MAX 9 operated by Alaska Air Group has led to significant disruptions across the aviation industry. The incident has caused increased costs and operational strains for airlines like Southwest Airlines, Allegiant Travel, United Airlines, and American Airlines. Boeing's delivery slowdown has also impacted suppliers and led to management changes and increased inspections. Boeing's stock has declined over the past year, and investors can gain exposure through aerospace ETFs.

Portfolio Pulse from Shivani Kumaresan

July 17, 2024 | 3:08 pm

Alaska Air Group (NYSE: ALK) has received mixed ratings from analysts over the past three months, with a combination of bullish, somewhat bullish, and indifferent perspectives. The average 12-month price target has increased by 10.23% to $48.5. Key analysts have adjusted their ratings and price targets, reflecting their responses to recent developments.

Portfolio Pulse from Benzinga Insights

July 16, 2024 | 5:01 pm

Susquehanna analyst Christopher Danely maintains a Neutral rating on Alaska Air Group (NYSE:ALK) and lowers the price target from $42 to $41.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 1:05 pm

The second-quarter earnings season has begun with mixed results from major banks and airlines. Despite some initial setbacks, analysts remain optimistic about overall earnings growth, with notable reports expected from companies like Netflix, Goldman Sachs, J&J, and ASML. The IT sector, led by Nvidia, is projected to see significant growth.

Portfolio Pulse from Shanthi Rexaline

July 15, 2024 | 9:13 am

Alaska Airlines flight attendants are set to receive a 32% pay raise as part of a new three-year tentative labor agreement. This agreement includes boarding pay, enhanced holiday and overtime pay, and 20 months of retroactive pay. The deal awaits ratification by the Association of Flight Attendants (AFA) union members. Alaska Air reported a 2% year-over-year revenue growth for Q1 FY2024, beating consensus estimates. ALK shares have lost over 25% in the last 12 months.

Portfolio Pulse from Shivani Kumaresan

July 03, 2024 | 2:09 pm

The U.S. Justice Department is moving to charge Boeing Co (NYSE:BA) over two fatal 737 MAX crashes, offering a plea deal with a substantial financial penalty and an independent monitor. If Boeing declines, it will face trial. The plea deal includes a $487.2 million penalty, potential restitution, and a three-year probation period. Boeing's ability to secure government contracts could be jeopardized. The news follows recent safety concerns and criticisms of Boeing's safety record.

Portfolio Pulse from Shivani Kumaresan

July 01, 2024 | 10:24 am

Boeing has scheduled a briefing with the European Union Aviation Safety Agency (EASA) to discuss production improvements. The company confirmed that only one Alaska Airlines jet was delivered with missing bolts.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 9:35 am

The FAA has issued a new airworthiness directive for 13 Boeing 757-200 airplanes registered in the U.S. due to concerns over fatigue cracking. This directive mandates inspections and repairs to prevent potential in-flight depressurization and structural integrity issues. Boeing is also under scrutiny for multiple flight incidents and may face criminal charges for allegedly breaching a deferred prosecution agreement. Boeing's stock has declined over 14% in the past year.

Portfolio Pulse from Shivani Kumaresan

June 26, 2024 | 2:04 pm

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