|Bid||62.81 x 900|
|Ask||62.82 x 1000|
|Day's range||61.80 - 63.11|
|52-week range||45.08 - 63.11|
|Beta (3Y monthly)||1.30|
|PE ratio (TTM)||9.40|
|Earnings date||9 Oct. 2019 - 14 Oct. 2019|
|Forward dividend & yield||1.61 (2.61%)|
|1y target est||68.17|
United Airlines (UAL) stock currently sits down 6.4% from its 52-week high, although has climbed 18.3% since the beginning of June. With Q2 2019 earnings season unofficially beginning this week, let's see what investors might expect from United's earnings report.
Zacks.com featured highlights include: Lockheed Martin, Delta Air Lines, Core-Mark, Caseys General Stores and Intuit
Delta (DAL) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.
The Benetton’s toll road operator Atlantia is to join a public-private group aiming to revive Italy’s long lossmaking airline Alitalia. In a statement, the board of directors of Italian state rail group of Ferrovie dello Stato Italiane said it “had today identified Atlantia as the partner to work alongside Delta Air Lines and the Ministry of Economy and Finance on the Alitalia operation”. Atlantia intends to inject about €300m to acquire a stake of about 30 per cent in a new holding company led by Ferrovie and the Italian finance ministry that would control Alitalia, a person familiar with the deliberations said last week.
(Bloomberg) -- Alitalia’s rescue by Italy’s state-owned railway and investors including U.S. carrier Delta Air Lines Inc. may still be weeks away despite a looming deadline for offers for the loss-plagued carrier, people familiar with the matter said.Ferrovie dello Stato SpA is set to tell the carrier on Monday that its rescue plan has attracted potential investors, including Delta and Atlantia SpA, the people said. Atlantia, the Benetton family’s industrial arm that operates Rome’s airports, on Sunday confirmed its interest to Ferrovie’s adviser Mediobanca SpA, but said it may want changes to the rescue designed by the state-controlled railroad, the people said.Deputy Prime Minister Luigi Di Maio, who is leading the latest effort to save the flagship carrier, has been forced to relax the government’s Monday deadline for binding offers and will now accept an expression of interest, according to an official in Di Maio’s economic development ministry. Ferrovie and Atlantia declined to comment. Delta confirmed its interest in becoming a minority shareholder.Alitalia has been under special administration for more than two years and now faces either liquidation or de-facto nationalization. The airline loses about 700,000 euros ($789,000) a day and has hasn’t posted profit for at least 15 years. The total burden to taxpayers has run to 10 billion euros since 2008, according to estimates by Andrea Giuricin, a professor at Milan Bicocca University."We should stop a new nationalization," said Giuricin, who owns an advisory firm that once worked for Alitalia and recently distributed an online petition against more state intervention.|The board of directors of Atlantia on July 11 gave Chief Executive Office Giovanni Castellucci a mandate to evaluate Alitalia’s rescue plan. Atlantia invested in two previous Alitalia bailouts that failed to revive the airline. The current rescue comes at a time when Atlantia’s relations with the government are strained over the collapse last year of a bridge it managed in Genoa. Forty three people were killed and the tragedy prompted threats by the government to revoke Atlantia’s roadway concessions.The Ferrovie offer may also be supported by the Toto Group, a company with holdings that spans from renewable energy to toll-road concessions that is controlled by Italian entrepreneur Carlo Toto, the people said.Adviser Mediobanca received expressions of interest Sunday from Atlantia and Toto, as well as from former Avianca executive German Efromovich and Lazio Chairman Carlo Lotito, the people said. (Updates with Sunday expressions of interest in last paragraph.)\--With assistance from Sonia Sirletti and Justin Bachman.To contact the reporters on this story: Tommaso Ebhardt in Milan at firstname.lastname@example.org;John Follain in Rome at email@example.comTo contact the editors responsible for this story: Ben Sills at firstname.lastname@example.org, ;Chad Thomas at email@example.com, Tommaso Ebhardt, Andrew DavisFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Italy’s government is nearing a rescue package for bankrupt Alitalia that could see U.S. carrier Delta Air Lines Inc. boost its stake in a new company from an initial minority holding, according to people familiar with the talks.With a deadline for bids set for Monday, Delta could step in now and also get an option to acquire more shares later from two state bodies -- railway operator Ferrovie dello Stato Italiane SpA and the Treasury -- or through a capital injection, the people said, asking not to be named discussing confidential negotiations. Ferrovie and the Treasury are expected to have a combined stake of about 50% initially with Delta getting around 10% to 15%.A deal for Alitalia would bolster Delta’s roster of international holdings, which the U.S. carrier has used aggressively to expand its global footprint. Delta owns 49 percent of Virgin Atlantic Airways Ltd. and Grupo Aeromexico SAB, along with smaller stakes in Air France-KLM, Brazil’s Gol Linhas Aereas Inteligentes SA and China Eastern Airlines.The Italian airline -- which filed for protection from creditors two times in the last decade and loses about 700,000 euros ($789,000) a day -- has been under special administration for more than two years and now faces either liquidation or a new attempt to revamp it backed by the the government. A group of public and private investors must submit a binding offer by Monday with Ferrovie’s adviser setting a deadline of 6 p.m. Sunday for potential bidders to express their interest.Deputy Prime Minister Luigi Di Maio, who as economic development minister is leading the rescue attempt, is seeking an agreement on a plan that could include the option for Delta to increase its initial stake and for the involvement of Atlantia SpA, the Benetton family’s industrial arm, which operates some of the country’s biggest airports, the people said.Ferrovie is set to hold a board meeting Monday to approve going ahead with the offer, the people said. But the company may not come up with a definitive bid that day as Atlantia only made its interest known on Thursday.The state rail operator is set to ask for a few more weeks to come up with a final, binding offer, after confirming Monday to Alitalia administrators that it plans to bid, having successfully lined up a group of investors who are ready to evaluate the plan, the people said.That strategy was discussed Friday morning in Rome by Di Maio and Ferrovie management, the people said. Di Maio has said he will not postpone Monday’s deadline. Ferrovie declined to comment.“Delta continues to work with Ferrovie and confirms it is interested in becoming a minority shareholder in a reorganized Alitalia,” the U.S. company said in response to a request for comment. “Discussions remain ongoing and any investment remains subject to Delta board approval.”(Update with details of offer from second paragraph.)\--With assistance from Sonia Sirletti and Justin Bachman.To contact the reporters on this story: John Follain in Rome at firstname.lastname@example.org;Tommaso Ebhardt in Milan at email@example.comTo contact the editors responsible for this story: Ben Sills at firstname.lastname@example.org, Andrew Davis, James AmottFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Delta (DAL) stock gains in pre-market trading on the back of a strong Q2 earnings report and bullish projections. The decision to increase its quarterly dividend payout is also encouraging.
(Bloomberg) -- Delta Air Lines Inc. boosted its profit forecast for 2019 as blistering travel demand, lower fuel costs and a grounded Boeing 737 Max gave it the muscle to command higher fares.The world’s third-largest airline expects to earn as much as $7.25 per share this year, above its prior $6 to $7 per share estimate, Delta said Thursday as it reported second-quarter earnings. The raised expectations came a day after rival American Airlines Group Inc. boosted its own outlook, citing the same market trends.The gains reported by two major airlines show that Americans’ fervor to fly remains unchecked amid strong U.S. economic data, while Boeing’s troubles with its workhorse jet have carried a silver lining for the industry by tightening seat supply.“The outlook is strong in terms of continued top-line growth,” Delta Chief Executive Officer Ed Bastian said in an interview. Five of Delta’s top 10 record revenue-generation days have occurred in the past 30 days, he said.The Max grounding offered Delta “a marginal benefit” on domestic summer capacity, which is 1% to 2% lower industrywide than was planned before regulators banned the plane from flying, Bastian said. “We are always looking to take share wherever we can,” he said of travelers who might have moved to Delta. “There’s no question we benefited somewhat from that.”Shares rose 1.4% to $60.30 at 12:10 p.m. in New York. As of Wednesday, Delta’s total gain for the year was 19% compared with an 11% rise in a Standard & Poor’s index of the five largest U.S. carriers.In a research note published earlier this week, Morgan Stanley analyst Rajeev Lalwani said growth in the availability of seats for airlines’ domestic flights will remain below 3%, “the lowest level of capacity observed in the last several years.”Delta sales rose to a quarterly record of $12.5 billion in the three months ending June 30, up 6.5% from a year earlier, as the carrier reaps more money from the sale of premium seats, its customer loyalty program and maintenance work for other airlines, according to a statement before the start of trading.Atlanta-based Delta led the industry in reporting its financial performance for the first full quarter since regulators grounded the Boeing Co. 737 Max in mid-March after two crashes involving the jet killed 346 people. The grounding has constrained U.S. seat growth this summer and helped carriers’ pricing power.No MaxWhile Delta doesn’t fly the plane, its three largest rivals do, and they’ve been forced to scrub thousands of flights during their busiest period of the year. Southwest Airlines Co., the largest 737 Max operator, has removed the plane from its schedule through Oct. 1.And even though Delta is known as an opportunistic aircraft buyer -- rescuing Bombardier Inc.’s troubled C Series program in 2016 with a major order, for example -- the carrier won’t be mulling any hefty discounts Boeing might offer on the Max. In 2017, Delta ordered 100 Airbus SE A321neo aircraft, with options for 100 more. The first of those arrive next year.“The Max is a good product. It was a close call, I’ll admit,” Bastian said Thursday of the company’s review of the Boeing and Airbus offers. “We spent quite a few months analyzing and going back and forth, but the 321neo in aggregate carried the day for us.”In a conference call to discuss second-quarter results, the CEO declined to address a “hypothetical” scenario from a JPMorgan Chase analyst asking Delta’s view of “the most intelligent and profitable way” an airline could return a grounded aircraft back into commercial service.American, which has taken the Max off its schedule through Sept. 3, said Wednesday its second-quarter unit revenue would be 3% to 4% higher than a year ago, above its prior guidance of as much as 3%.“Given the continuation of strong revenue trends, more favorable cost trends in 2H19, and our expectation that MAX issues are likely to keep supply tight through the rest of the year, we remain quite comfortable with airline fundamentals,” Macquarie Group analyst Susan Donofrio wrote in a July 9 client note.Delta is moving closer to its goal of capping growth in nonfuel expenses at 1% this year. Costs for each seat flown a mile, a gauge of efficiency, increased 1.4% in the second quarter from a year earlier, driven partly by Delta’s decision to retire its aged MD-90 fleet by 2023, two years earlier than planned. The decision, which will see 40 of the planes grounded by year’s end, added $60 million in depreciation costs.The carrier benefited from lower jet fuel prices. Average spot prices in New York Harbor dropped more than 8% in the quarter from a year earlier.(Updates with CEO comments on potential Max orders beginning in 11th paragraph.)To contact the reporters on this story: Justin Bachman in Dallas at email@example.com;Mary Schlangenstein in Dallas at firstname.lastname@example.orgTo contact the editors responsible for this story: Brendan Case at email@example.com, Susan Warren, Thomas BlackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Delta Airlines stock was up 3% in premarket trading on Thursday after it released better-than-expected second-quarter earnings results.
The S&P 500 breached this level for the first time ever on Wednesday and again on Thursday as Federal Reserve Chair Jerome Powell provided clearer hints on the central bank’s possible plans to cut short-term interest rates amid soft inflation and ongoing trade war concerns.
Delta (DAL) delivered earnings and revenue surprises of 2.62% and 0.30%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
Following American Airlines' (AAL) upbeat second-quarter 2019 unit revenue projection, other key airline players like Delta Air Lines (DAL) gain on Jul 10.
(Bloomberg) -- When Italian rapper Fedez flew to Sicily to marry fashion “influencer” Chiara Ferragni last summer, bankrupt Alitalia provided a special plane, complete with tailor-made tickets, a dedicated departure gate and onboard gadgets.The company’s largesse sparked protests in parliament and online -- as well as demands from the government for an explanation. Alitalia said the flight, from Milan’s Linate airport to Catania, was “a normal commercial accord and part of the company’s advertising campaign.”Now, Alitalia might be down to its last fashion stunt.After years of scandals and abysmal management, the airline has been under special administration for more than two years and now faces either liquidation or de facto nationalization. A group of public and private investors must submit a binding offer by Monday but most details -- including who will join the bid -- are murky.“Alitalia can’t afford to lose more time,” said Claudio Tarlazzi, head of transport union Uiltrasporti. “Talks about possible shareholders are just political solutions at this stage. But Alitalia needs an industrial plan and an investment strategy.”The core of the plan involves setting up a new company that would retain old Alitalia’s assets while its billions of euros of debt would remain with the old company and be liquidated.Two state bodies -- railway operator Ferrovie dello Stato Italiane SpA and the Treasury -- are in talks to take a combined stake of about 50% in the new Alitalia, according to the economic development ministry headed by Luigi Di Maio, who is also deputy premier. U.S. carrier Delta Air Lines Inc. would take between 10% and 15%.The numbers still don’t add up, and that’s where the tensions within Rome’s fractious coalition come into play. According to months of speculation in Italian media, the ideal candidate to complete the bidding group is Atlantia SpA, the Benetton family’s industrial arm which operates some of the country’s biggest airports.But the Benettons’ future role has become the latest sore spot between Di Maio of the anti-establishment Five Star Movement, who’s overseeing the search for investors, and fellow Deputy Premier Matteo Salvini of the rightist League.Bridge DisasterAfter the deadly collapse of a highway bridge in Genoa last August, Di Maio wants to strip Autostrade per l’Italia SpA, which Atlantia controls, of its license to operate toll roads. That would probably rule out any Atlantia investment in Alitalia.The government might be willing to soften its position on revoking the toll-road concession if Atlantia will take part in the airline’s rescue, la Repubblica reported Thursday, with negotiations to start by the end of July.But any decision from a politically weakened Di Maio needs Salvini’s stamp of approval, according to a League lawmaker who asked not to be named. The League has been in contact with Atlantia about Alitalia, the lawmaker said.At a board meeting Thursday, the Benettons’ company will discuss a potential investment of about 300 million euros ($336 million) to buy a stake of about 30%, according to a person familiar with the situation. The decision hinges on the participation of the Treasury and Delta, as well as a detailed business plan, the person said. Atlantia declined to comment.There may be other parties to the investors’ group, including U.S.-based businessman Riccardo Toto, Lazio soccer club chairman Claudio Lotito and German Efromovich, ousted chairman of Colombian airline Avianca.More TalksWhatever the outcome of the talks, lining up the new stakeholders would be only a prelude to months of further negotiations. If stakeholders reach an accord, discussions with unions on a new industrial plan will likely take place beginning in September, according to an official who asked not to be named.Before it’s even been announced, the latest salvage plan has fueled doubts about the airline’s future.“Di Maio is just prolonging Alitalia’s agony,’’ said Carlo Alberto Carnevale Maffe, a professor of business strategy at Milan’s Bocconi University. “He’s seeking an Italian-led solution but the only way to save Alitalia is to make the company part of a European hub.’’Even with state backing, the success of the new Alitalia is far from guaranteed. The airline has been hit by competition from low-cost rivals and high-speed trains. A lack of aircraft and a paucity of international slots have also limited its market share, according to Carnevale Maffe.Today, the airline is kept alive by a 900 million-euro bridge loan from the state. It loses about 700,000 euros a day, or 300 million euros a year, according to another person familiar with the situation, and it has less than half a billion euros in cash left.Yet if Alitalia is going down, it seems determined to go in style. In 2017, the airline went through its second re-branding campaign in just two years, with one of Italy’s top stylists designing new uniforms for ground and flight staff.And while Alitalia was quick to assure that this “design collaboration” cost nothing, sooner or later, Italian taxpayers may ultimately have to pick up the tab.(Updates with possible concession compromise in 11th paragraph.)\--With assistance from Dan Liefgreen and Christopher Jasper.To contact the reporters on this story: John Follain in Rome at firstname.lastname@example.org;Chiara Albanese in Rome at email@example.com;Tommaso Ebhardt in Milan at firstname.lastname@example.orgTo contact the editors responsible for this story: Ben Sills at email@example.com, Jerrold Colten, Alessandro SpecialeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Delta Air Lines on Thursday raised its profit outlook, pointing to strong domestic demand, lower fuel costs and moves by rivals to ground the 737 Max jet. The rosier guidance accompanied upbeat second-quarter results, boosted by higher demand and higher revenue from premium seats as well as lower fuel costs. Chief executive Ed Bastian also told Reuters it had seen a “marginal benefit” from the grounding of Boeing’s 737 Max planes.