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Why Delta's So-So Results Are Pushing Airline Stocks Higher Today
Delta Air Lines (NYSE: DAL) kicked off earnings season with a whimper, but the airline's relatively benign outlook was far better than some investors had anticipated.The results provided a lift to the entire sector, with carriers including Southwest Airlines (NYSE: LUV) up as much as 5.3% at the open. The stocks gave back some of those gains as the morning continued, but Southwest was still up 2% as of 11 a.m. ET.Delta and other airlines reset expectations last month, lowering guidance for the recently completed first quarter and providing a more cautious outlook for what is to come. The airline beat those lowered expectations, but warned of some downside potential to Wall Street's second-quarter consensus estimate.Continue reading
Delta Air Lines (NYSE: DAL) kicked off earnings season with a whimper, but the airline's relatively benign outlook was far better than some investors had anticipated.
The results provided a lift to the entire sector, with carriers including Southwest Airlines (NYSE: LUV) up as much as 5.3% at the open. The stocks gave back some of those gains as the morning continued, but Southwest was still up 2% as of 11 a.m. ET.
Delta and other airlines reset expectations last month, lowering guidance for the recently completed first quarter and providing a more cautious outlook for what is to come. The airline beat those lowered expectations, but warned of some downside potential to Wall Street's second-quarter consensus estimate.
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