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3100.0
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2022-11-24 00:00:00 UTC
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ASIACOPPERWEEK-Freeport settles six-year high copper charges for 2023 with Chinese smelters - source
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AAL
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https://www.nasdaq.com/articles/asiacopperweek-freeport-settles-six-year-high-copper-charges-for-2023-with-chinese
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nan
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nan
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By Mai Nguyen
SINGAPORE, Nov 24 (Reuters) - Miner Freeport-McMoRan FCX.N has agreed treatment and refining charges (TC/RCs) of $88 a tonne and 8.8 cents per pound for copper concentrate supply in 2023 with Chinese smelters, a source close with negotiations said on Thursday.
The charges, paid by miners to smelters to process ore into refined metals, are the highest since 2017 and 35% higher than the 2022 benchmark of $65 a tonne and 6.50 cents per pound, due to an expected oversupply of copper concentrate.
"The general view (previously) was around $80-$85 but the sentiment had shifted towards more to the $85-$90 range in recent weeks," said analyst Craig Lang of consultancy firm CRU.
"It was quite a common view across the market that next year would see a surplus approaching 300,000 tonnes of copper concentrate," he said.
This year the benchmark was set at $65 per tonne and 6.5 cents per pound, but China's top copper smelters had already lifted their floor TC/RCs in the fourth quarter to a five-year high at $93/9.3c due to a supply glut.
Spot treatment charges in China AM-CN-CUCONC assessed by Asian Metal stood at $85.50 a tonne on Nov. 17, up 43.7% from the beginning of this year and higher than the annual benchmark.
Miners pay TC/RCs to smelters to process copper concentrate into refined metal, offsetting the cost of the ore.
The TC/RCs benchmark, referenced in supply contracts globally, is usually taken from the first settlement between a major miner and a smelter in top copper consumer China in annual negotiations.
TC/RCs rise when more supply is available and smelters can demand better terms on feedstock, and play a significant role in the profitability of both sides.
Market participants have mostly expected the treatment charges benchmark to be in-between $80 and $90 a tonne.
They pointed to Teck Resources' TECK.K Quebrada Blanca Phase 2 project in Chile and Anglo American PLC's AAL.L Quellaveco project in Peru that would contribute to the rising supply of concentrate.
Meanwhile, Chile's Codelco said it would extend maintenance work at its Chuquicamata smelter to 135 days, from 90 days initially.
Freeport did not immediately respond to a request for comment.
(Reporting by Mai Nguyen in Hanoi Editing by Mark Potter)
((mai.nguyen@thomsonreuters.com; +842438259623; Reuters Messaging: mai.nguyen.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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They pointed to Teck Resources' TECK.K Quebrada Blanca Phase 2 project in Chile and Anglo American PLC's AAL.L Quellaveco project in Peru that would contribute to the rising supply of concentrate. By Mai Nguyen SINGAPORE, Nov 24 (Reuters) - Miner Freeport-McMoRan FCX.N has agreed treatment and refining charges (TC/RCs) of $88 a tonne and 8.8 cents per pound for copper concentrate supply in 2023 with Chinese smelters, a source close with negotiations said on Thursday. The charges, paid by miners to smelters to process ore into refined metals, are the highest since 2017 and 35% higher than the 2022 benchmark of $65 a tonne and 6.50 cents per pound, due to an expected oversupply of copper concentrate.
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They pointed to Teck Resources' TECK.K Quebrada Blanca Phase 2 project in Chile and Anglo American PLC's AAL.L Quellaveco project in Peru that would contribute to the rising supply of concentrate. By Mai Nguyen SINGAPORE, Nov 24 (Reuters) - Miner Freeport-McMoRan FCX.N has agreed treatment and refining charges (TC/RCs) of $88 a tonne and 8.8 cents per pound for copper concentrate supply in 2023 with Chinese smelters, a source close with negotiations said on Thursday. This year the benchmark was set at $65 per tonne and 6.5 cents per pound, but China's top copper smelters had already lifted their floor TC/RCs in the fourth quarter to a five-year high at $93/9.3c due to a supply glut.
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They pointed to Teck Resources' TECK.K Quebrada Blanca Phase 2 project in Chile and Anglo American PLC's AAL.L Quellaveco project in Peru that would contribute to the rising supply of concentrate. By Mai Nguyen SINGAPORE, Nov 24 (Reuters) - Miner Freeport-McMoRan FCX.N has agreed treatment and refining charges (TC/RCs) of $88 a tonne and 8.8 cents per pound for copper concentrate supply in 2023 with Chinese smelters, a source close with negotiations said on Thursday. The charges, paid by miners to smelters to process ore into refined metals, are the highest since 2017 and 35% higher than the 2022 benchmark of $65 a tonne and 6.50 cents per pound, due to an expected oversupply of copper concentrate.
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They pointed to Teck Resources' TECK.K Quebrada Blanca Phase 2 project in Chile and Anglo American PLC's AAL.L Quellaveco project in Peru that would contribute to the rising supply of concentrate. By Mai Nguyen SINGAPORE, Nov 24 (Reuters) - Miner Freeport-McMoRan FCX.N has agreed treatment and refining charges (TC/RCs) of $88 a tonne and 8.8 cents per pound for copper concentrate supply in 2023 with Chinese smelters, a source close with negotiations said on Thursday. The charges, paid by miners to smelters to process ore into refined metals, are the highest since 2017 and 35% higher than the 2022 benchmark of $65 a tonne and 6.50 cents per pound, due to an expected oversupply of copper concentrate.
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3101.0
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2022-11-23 00:00:00 UTC
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Why U.S. Airlines May Fly High This Thanksgiving Travel Period
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AAL
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https://www.nasdaq.com/articles/why-u.s.-airlines-may-fly-high-this-thanksgiving-travel-period
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nan
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Moving over the worst phase of the pandemic gloom, airlines recovered gradually, with passenger revenues rebounding from rock bottom. Air-travel demand made a stronger-than-expected recovery as people are again booking flights, thereby boosting passenger revenues, which account for the bulk of most airlines’ top lines.
Following the removal of coronavirus-induced restrictions, pent-up demand is driving traffic for the airlines. Despite inflationary pressures and the resultant high-interest rates, there is a wave of optimism in the United States surrounding air-travel demand. Given this rosy backdrop, U.S. airlines like Delta Air Lines DAL, United Airlines UAL and American Airlines AAL are likely to have a very hectic schedule this Thanksgiving week. All the above-mentioned airlines currently carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
To meet the anticipated demand swell, U.S. airlines are boosting capacity despite the labor crunch that has gripped them. The labor crisis apart, fuel costs remain elevated inducing high air fares. However, these headwinds are unlikely to have a significant adverse impact on the passenger volumes in the Thanksgiving period, as people are very eager to travel after being confined to their homes during the pandemic.
Per the American Automobile Association (AAA), air-travel during the Thanksgiving holiday period this year is likely to be 8% more than the 2021 actuals. Passenger volume by air this year (4.51 million) is likely to be 99% of the 2019 levels (pre-coronavirus era). Moreover, the prevalence of remote working is currently expected to ease the congestion with respect to air-travel this year as remote working helps many people travel on days where the rush is likely to be relatively less and air-tickets comparatively cheaper.
Upbeat Projections From Airlines
United Airlines expects to make the most of buoyant air-travel demand this Thanksgiving spell. Anticipating high passenger volume, UAL expects to transport 12% more passengers from the 2021 levels during the Thanksgiving travel period.
United Airlines reportedly anticipates transporting 5.5 million passengers during the Thanksgiving sojourn. The projected passenger volume is roughly the same as the 2019 actuals (pre-coronavirus era). To meet this expected spike in demand, UAL intends to operate 3,700 plus flights (on average) daily during the Nov 18-Nov 30 time frame. Management believes that passenger volume will touch the maximum on Nov 27 (the Sunday after Thanksgiving) since the start of the COVID-19 pandemic. More than 460,000 passengers are expected to travel on UAL flights that day. United Airlines will operate roughly 275 extra flights on the said date to meet the anticipated demand upsurge.
American Airlines also expects Nov 27 to be the busiest travel day. Management expects 6.8 million passengers to be transported on AAL flights during the Thanksgiving vacation (Nov 17-Nov 27). To meet this demand revival, AAL intends to operate more than 66,000 scheduled flights across its network. On Nov 27, around 5,500 scheduled flights will be operated by AAL.
Delta expects to attract nearly 6 million passengers to its flights over the Nov 18-Nov 29 period. This translates into nearly 500,000 passengers, on average, per day. DAL’s projection this year is a tad less than the 6.3 million passengers, who availed the airline’s flights during the Thanksgiving trips in 2019.
Expressing delight at the likely high passenger volumes this year over the Thanksgiving holiday period, Delta’s CEO Ed Bastian said, “The holidays are all about connecting with loved ones, and after two years of disruption and unknowns, those connections are more important than ever.” Thanks to the hard work of our more than 80,000 people around the globe, Delta customers can expect the very best service and industry-leading reliability as they reconnect this holiday season. Our teams are ready to serve."
Wrapping Up
The above write-up clearly suggests that passenger volumes will be high over the Thanksgiving outing this year. High passenger traffic despite headwinds like labor shortage bodes well for the airlines. Steep air fares coupled with strong passenger volumes mean that the top lines of U.S. carriers will be significantly bolstered by the upbeat air-traffic expected over the Thanksgiving break. This should aid the aviation space immensely as it bounces back from a crippled stage, thanks to the deadly pandemic blows.
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To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Given this rosy backdrop, U.S. airlines like Delta Air Lines DAL, United Airlines UAL and American Airlines AAL are likely to have a very hectic schedule this Thanksgiving week. Management expects 6.8 million passengers to be transported on AAL flights during the Thanksgiving vacation (Nov 17-Nov 27). To meet this demand revival, AAL intends to operate more than 66,000 scheduled flights across its network.
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Given this rosy backdrop, U.S. airlines like Delta Air Lines DAL, United Airlines UAL and American Airlines AAL are likely to have a very hectic schedule this Thanksgiving week. Click to get this free report Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report United Airlines Holdings Inc (UAL) : Free Stock Analysis Report American Airlines Group Inc. (AAL) : Free Stock Analysis Report To read this article on Zacks.com click here. Management expects 6.8 million passengers to be transported on AAL flights during the Thanksgiving vacation (Nov 17-Nov 27).
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Given this rosy backdrop, U.S. airlines like Delta Air Lines DAL, United Airlines UAL and American Airlines AAL are likely to have a very hectic schedule this Thanksgiving week. Click to get this free report Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report United Airlines Holdings Inc (UAL) : Free Stock Analysis Report American Airlines Group Inc. (AAL) : Free Stock Analysis Report To read this article on Zacks.com click here. Management expects 6.8 million passengers to be transported on AAL flights during the Thanksgiving vacation (Nov 17-Nov 27).
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Given this rosy backdrop, U.S. airlines like Delta Air Lines DAL, United Airlines UAL and American Airlines AAL are likely to have a very hectic schedule this Thanksgiving week. Management expects 6.8 million passengers to be transported on AAL flights during the Thanksgiving vacation (Nov 17-Nov 27). To meet this demand revival, AAL intends to operate more than 66,000 scheduled flights across its network.
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3102.0
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2022-11-23 00:00:00 UTC
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Interesting AAL Put And Call Options For January 2023
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AAL
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https://www.nasdaq.com/articles/interesting-aal-put-and-call-options-for-january-2023
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nan
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Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading today, for the January 2023 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new January 2023 contracts and identified one put and one call contract of particular interest.
The put contract at the $13.50 strike price has a current bid of 52 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $13.50, but will also collect the premium, putting the cost basis of the shares at $12.98 (before broker commissions). To an investor already interested in purchasing shares of AAL, that could represent an attractive alternative to paying $14.29/share today.
Because the $13.50 strike represents an approximate 6% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 3.85% return on the cash commitment, or 31.95% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for American Airlines Group Inc, and highlighting in green where the $13.50 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $15.50 strike price has a current bid of 42 cents. If an investor was to purchase shares of AAL stock at the current price level of $14.29/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $15.50. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 11.41% if the stock gets called away at the January 2023 expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if AAL shares really soar, which is why looking at the trailing twelve month trading history for American Airlines Group Inc, as well as studying the business fundamentals becomes important. Below is a chart showing AAL's trailing twelve month trading history, with the $15.50 strike highlighted in red:
Considering the fact that the $15.50 strike represents an approximate 8% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 2.94% boost of extra return to the investor, or 24.38% annualized, which we refer to as the YieldBoost.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 252 trading day closing values as well as today's price of $14.29) to be 58%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of the S&P 500 »
Also see:
WLKP Options Chain
Institutional Holders of CTRA
LMRK Historical Stock Prices
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Of course, a lot of upside could potentially be left on the table if AAL shares really soar, which is why looking at the trailing twelve month trading history for American Airlines Group Inc, as well as studying the business fundamentals becomes important. Below is a chart showing AAL's trailing twelve month trading history, with the $15.50 strike highlighted in red: Considering the fact that the $15.50 strike represents an approximate 8% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading today, for the January 2023 expiration.
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Below is a chart showing AAL's trailing twelve month trading history, with the $15.50 strike highlighted in red: Considering the fact that the $15.50 strike represents an approximate 8% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading today, for the January 2023 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new January 2023 contracts and identified one put and one call contract of particular interest.
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Below is a chart showing AAL's trailing twelve month trading history, with the $15.50 strike highlighted in red: Considering the fact that the $15.50 strike represents an approximate 8% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading today, for the January 2023 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new January 2023 contracts and identified one put and one call contract of particular interest.
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At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new January 2023 contracts and identified one put and one call contract of particular interest. Below is a chart showing AAL's trailing twelve month trading history, with the $15.50 strike highlighted in red: Considering the fact that the $15.50 strike represents an approximate 8% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading today, for the January 2023 expiration.
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3103.0
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2022-11-23 00:00:00 UTC
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Anglo American secures desalinated water supply for Los Bronces copper mine in 2025
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AAL
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https://www.nasdaq.com/articles/anglo-american-secures-desalinated-water-supply-for-los-bronces-copper-mine-in-2025
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nan
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nan
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SANTIAGO, Nov 23 (Reuters) - Anglo American AAL.L said on Wednesday that it reached an agreement to supply half of its Los Bronces copper mine in Chile with desalinated water from 2025.
The agreement with Aguas Pacifico, controlled by Patria Investments, will bring water from Chile's coast to the mine's water recirculation systems. The system will also supply municipalities in northern Santiago.
Central Chile, where Los Bronces is located, has been hit particularly hard by a persistent drought that has hit mining output.
In the first phase, Anglo American said it will use 500 liters per second of desalinated water to cover 45% of its operations. In the second phase, the company said it will use treated waste water in exchange for supplying desalinated water for human consumption.
"In a scenario of water scarcity like the one we are currently in, human consumption has priority," Anglo American's interim executive president in Chile, Patricio Hidalgo said in a press release, adding that the project will generate "social value" for the country.
In June, Anglo American said that it planned to stop using fresh water altogether by 2030 through desalination and water recirculation.
The miner is trying to convince a government committee, led by the environment minister, to extend its mining permit at the site after being rejected by the country's environmental permit evaluator earlier this year.
The $3.3 billion mining project has been criticized for its impact on water availability in the capital region.
Los Bronces is part of Anglo American Sur, owned by Anglo American (50.1%), the Codelco-Mitsui consortium (29.5%) and Mitsubishi (20.4%).
(Reporting by Natalia Ramos, Writing by Alexander Villegas; Editing by Emelia Sithole-Matarise)
((natalia.ramos@thomsonreuters.com; +56940216068;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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SANTIAGO, Nov 23 (Reuters) - Anglo American AAL.L said on Wednesday that it reached an agreement to supply half of its Los Bronces copper mine in Chile with desalinated water from 2025. "In a scenario of water scarcity like the one we are currently in, human consumption has priority," Anglo American's interim executive president in Chile, Patricio Hidalgo said in a press release, adding that the project will generate "social value" for the country. The $3.3 billion mining project has been criticized for its impact on water availability in the capital region.
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SANTIAGO, Nov 23 (Reuters) - Anglo American AAL.L said on Wednesday that it reached an agreement to supply half of its Los Bronces copper mine in Chile with desalinated water from 2025. The agreement with Aguas Pacifico, controlled by Patria Investments, will bring water from Chile's coast to the mine's water recirculation systems. In the second phase, the company said it will use treated waste water in exchange for supplying desalinated water for human consumption.
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SANTIAGO, Nov 23 (Reuters) - Anglo American AAL.L said on Wednesday that it reached an agreement to supply half of its Los Bronces copper mine in Chile with desalinated water from 2025. The agreement with Aguas Pacifico, controlled by Patria Investments, will bring water from Chile's coast to the mine's water recirculation systems. In June, Anglo American said that it planned to stop using fresh water altogether by 2030 through desalination and water recirculation.
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SANTIAGO, Nov 23 (Reuters) - Anglo American AAL.L said on Wednesday that it reached an agreement to supply half of its Los Bronces copper mine in Chile with desalinated water from 2025. The agreement with Aguas Pacifico, controlled by Patria Investments, will bring water from Chile's coast to the mine's water recirculation systems. In the first phase, Anglo American said it will use 500 liters per second of desalinated water to cover 45% of its operations.
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3104.0
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2022-11-23 00:00:00 UTC
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The Zacks Analyst Blog Highlights Chipotle Mexican Grill, Dillard's, American Airlines Group, Canadian National Railway and MakeMyTrip
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AAL
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https://www.nasdaq.com/articles/the-zacks-analyst-blog-highlights-chipotle-mexican-grill-dillards-american-airlines-group
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nan
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For Immediate Release
Chicago, IL – November 23, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Chipotle Mexican Grill CMG, Dillard's DDS, American Airlines Group AAL, Canadian National Railway CNI and MakeMyTrip Ltd. MMYT.
Here are highlights from Tuesday’s Analyst Blog:
5 Stocks Promising Abundant Gains This Thanksgiving Week
With the start of Thanksgiving Week, investors are bullish on U.S. stocks, given its history of strong market performance. This is especially true as the holiday-shortened week is usually a bullish feast for stock investors, even with low volumes, as consumer spending is expected to rise.
Consumer spending is likely to reach $125 billion, up 10% year over year, this Thanksgiving weekend despite higher inflation and higher interest rates. This would propel the economy and stocks higher.
To tap the trend, investors could reap solid gains by investing in stocks of the industries likely to benefit the most this week. Some of these are Chipotle Mexican Grill, Dillard's, American Airlines Group, Canadian National Railway and MakeMyTrip Ltd.
These stocks have a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) and a Growth Score of B or better. They have also witnessed positive earnings estimate revision for the holiday quarter over the past 30 or 60 days. You can see the complete list of today's Zacks #1 Rank stocks here.
Solid Historical Trends
While elevated inflation, Fed's aggressive rate hike and recession fears have been playing foul on the stock market, higher consumer spending should provide a boost to the stocks this week. According to Bespoke Investment Group, the Thanksgiving week has returned modest gains for stocks dating back to 1945.
Researchers say that since then, the entire week of Thanksgiving has averaged a 60-basis-point gain for the S&P 500, with the best returns coming on Wednesday before the holiday and Black Friday and the only decline on average on Monday at the start of the week.
Per researchers, the S&P 500 Index has gained 0.54% on average during the week over the past 50 years, with 68% of the returns coming in positive.
Bright Spots
According to the National Retail Federation, a record 166.3 million people are planning to shop from Thanksgiving Day through Cyber Monday this year. This represents 8 million more people than last year and is the highest estimate since NRF began tracking this data in 2017.
Americans will spend $125 billion, up 10% from last year. About 89% of consumers expect to shop in the period beginning Thanksgiving Day and ending Cyber Monday, despite concerns of inflation and rising interest rates.
Black Friday continues to be the most popular shopping day, with 69% planning to splurge, followed by 38% on Cyber Monday. Among the 114.9 million Black Friday shoppers, 67% say they expect to head to stores, up from 64% in 2021.
Online search (43%) remains the most popular source of gift inspiration, followed by friends and family (35%), and within a retail store (31%). The top five gift categories that consumers plan to give are clothing (55%), followed by gift cards at 45%, toys at 37%, books/music/movies/video games at 33%, and food/candy at 31%.
Travel service provider American Automobile Association (AAA) expects 2022 to be the third-busiest Thanksgiving travel season in the United States over the last two decades.
About 54.6 million people will travel 50 miles or more from home this Thanksgiving. This is up 1.5% from last year and represents 98% of the pre-pandemic volumes. Of them, 49 million (up 0.4% from the last year) will go on road trips, 4.5 million (up 8%) will fly, and the remaining 1.4 million (up 23%) will travel by train, bus or cruise.
However, Americans are bracing for a costly Thanksgiving this year, with double-digit percent increases in the price of turkey, potatoes, stuffing, canned pumpkin and other staples. The average cost of serving 10 people for Thanksgiving is expected to be $64.05 (or less than $6.50 per person), up 20% from last year's average of $53.31, according to the American Farm Bureau Federation's annual Thanksgiving dinner cost survey. Higher prices should benefit restaurant companies.
Stocks to Shower Gains
Chipotle Mexican, together with its subsidiaries, operates quick-casual and fresh Mexican food restaurant chains. Chipotle restaurants feature free-range, hormone-free pork, natural chicken and other meat products cooked through traditional methods and served in a unique atmosphere. The company has a market cap of $41.6 billion.
Chipotle Mexican saw solid earnings estimates revision of 38 cents over the past month for the holiday quarter. The stock carries a Zacks Rank #2 and a Growth Score of A.
Dillard's is a large departmental store chain featuring fashion apparel and home furnishings. It also sells its merchandize through the Internet at www.dillards.com. Stores are mainly located in the Southwest, Southeast, and Midwest regions of the United States.
Dillard's has witnessed a solid earnings estimate revision of $2.37 for the current quarter in a month. With a market cap of $6.2 billion, DDS has a Zacks Rank #1 and a Growth Score of B.
American Airlines, through its subsidiaries, operates as a network air carrier. The company provides scheduled air transportation services for passengers and cargo through its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, Phoenix, and Washington, D.C., as well as through partner gateways in London, Madrid, Seattle/Tacoma, Sydney, and Tokyo. AAL has a market cap of $9.1 billion.
American Airlines saw a solid earnings estimate revision of 41 cents over the past 30 days for the holiday quarter. It has a Zacks Rank #3 and a Growth Score of B.
Canadian National is engaged in the rail and related transportation business. It operates as the largest rail network in Canada and is the only transcontinental network in North America. Canadian National saw positive earnings estimates revision of three cents over the past month for the holiday quarter.
Canadian National has a market cap of $84.2 billion. It has a Zacks Rank #3 and a Growth Score of B.
MakeMyTrip is an online travel service company, which offers travel products and solutions in India and the United States. The company's services and products include air tickets, customized holiday packages, hotel booking, railway tickets, bus tickets, car hire and facilitating access to travel insurance. MakeMyTrip has witnessed a solid earnings estimate revision of 5 cents for the current quarter over the past 30 days.
With a market cap of $3 billion, MMYT has a Zacks Rank #2 and a Growth Score of A.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Dillard's, Inc. (DDS) : Free Stock Analysis Report
Canadian National Railway Company (CNI) : Free Stock Analysis Report
Chipotle Mexican Grill, Inc. (CMG) : Free Stock Analysis Report
American Airlines Group Inc. (AAL) : Free Stock Analysis Report
MakeMyTrip Limited (MMYT) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Stocks recently featured in the blog include: Chipotle Mexican Grill CMG, Dillard's DDS, American Airlines Group AAL, Canadian National Railway CNI and MakeMyTrip Ltd. MMYT. AAL has a market cap of $9.1 billion. Click to get this free report Dillard's, Inc. (DDS) : Free Stock Analysis Report Canadian National Railway Company (CNI) : Free Stock Analysis Report Chipotle Mexican Grill, Inc. (CMG) : Free Stock Analysis Report American Airlines Group Inc. (AAL) : Free Stock Analysis Report MakeMyTrip Limited (MMYT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Stocks recently featured in the blog include: Chipotle Mexican Grill CMG, Dillard's DDS, American Airlines Group AAL, Canadian National Railway CNI and MakeMyTrip Ltd. MMYT. Click to get this free report Dillard's, Inc. (DDS) : Free Stock Analysis Report Canadian National Railway Company (CNI) : Free Stock Analysis Report Chipotle Mexican Grill, Inc. (CMG) : Free Stock Analysis Report American Airlines Group Inc. (AAL) : Free Stock Analysis Report MakeMyTrip Limited (MMYT) : Free Stock Analysis Report To read this article on Zacks.com click here. AAL has a market cap of $9.1 billion.
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Click to get this free report Dillard's, Inc. (DDS) : Free Stock Analysis Report Canadian National Railway Company (CNI) : Free Stock Analysis Report Chipotle Mexican Grill, Inc. (CMG) : Free Stock Analysis Report American Airlines Group Inc. (AAL) : Free Stock Analysis Report MakeMyTrip Limited (MMYT) : Free Stock Analysis Report To read this article on Zacks.com click here. Stocks recently featured in the blog include: Chipotle Mexican Grill CMG, Dillard's DDS, American Airlines Group AAL, Canadian National Railway CNI and MakeMyTrip Ltd. MMYT. AAL has a market cap of $9.1 billion.
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Stocks recently featured in the blog include: Chipotle Mexican Grill CMG, Dillard's DDS, American Airlines Group AAL, Canadian National Railway CNI and MakeMyTrip Ltd. MMYT. AAL has a market cap of $9.1 billion. Click to get this free report Dillard's, Inc. (DDS) : Free Stock Analysis Report Canadian National Railway Company (CNI) : Free Stock Analysis Report Chipotle Mexican Grill, Inc. (CMG) : Free Stock Analysis Report American Airlines Group Inc. (AAL) : Free Stock Analysis Report MakeMyTrip Limited (MMYT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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3105.0
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2022-11-23 00:00:00 UTC
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ASIACOPPERWEEK-War in Ukraine speeds up green transition, boosts copper demand-Anglo American exec
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AAL
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https://www.nasdaq.com/articles/asiacopperweek-war-in-ukraine-speeds-up-green-transition-boosts-copper-demand-anglo
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By Mai Nguyen
SINGAPORE, Nov 23 (Reuters) - The Russia-Ukraine war has quickened countries' transition to renewable energy, underpinning current and future demand for copper, a company executive at global miner Anglo American PLC AAL.L said on Wednesday.
Some countries have ramped their use of renewable energy this year after the war in the Ukraine disrupted the energy market and caused supply shortage in Europe. That trend has fuelled appetite for copper, which is used in both solar and wind power plants, as well as in electric vehicles.
"Everything we talk about in terms of energy transition is about copper," Anglo American's CEO of Base Metals Ruben Fernandes told Reuters in an interview.
"This war somehow amplifies the situation. In a way it's good for copper."
Anglo American, a major copper producer, owns copper assets in Chile and Peru - the world's two biggest copper-producing countries.
"It will depend on supply and ... all the challenges we'll face or could face," he said.
"With all this new demand coming from EVs and energy transition and all these new areas of consumption, (copper) consumption is very positive," he said.
Fernandes expected inflation generally to have peaked, but said the industry still faced uncertainty over the Russia-Ukraine war and the COVID-19 pandemic.
"We need to learn how to deal with that," he said.
(Reporting by Mai Nguyen in Singapore; Editing by Ana Nicolaci da Costa)
((mai.nguyen@thomsonreuters.com; +842438259623; Reuters Messaging: mai.nguyen.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Mai Nguyen SINGAPORE, Nov 23 (Reuters) - The Russia-Ukraine war has quickened countries' transition to renewable energy, underpinning current and future demand for copper, a company executive at global miner Anglo American PLC AAL.L said on Wednesday. "Everything we talk about in terms of energy transition is about copper," Anglo American's CEO of Base Metals Ruben Fernandes told Reuters in an interview. Fernandes expected inflation generally to have peaked, but said the industry still faced uncertainty over the Russia-Ukraine war and the COVID-19 pandemic.
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By Mai Nguyen SINGAPORE, Nov 23 (Reuters) - The Russia-Ukraine war has quickened countries' transition to renewable energy, underpinning current and future demand for copper, a company executive at global miner Anglo American PLC AAL.L said on Wednesday. "Everything we talk about in terms of energy transition is about copper," Anglo American's CEO of Base Metals Ruben Fernandes told Reuters in an interview. "With all this new demand coming from EVs and energy transition and all these new areas of consumption, (copper) consumption is very positive," he said.
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By Mai Nguyen SINGAPORE, Nov 23 (Reuters) - The Russia-Ukraine war has quickened countries' transition to renewable energy, underpinning current and future demand for copper, a company executive at global miner Anglo American PLC AAL.L said on Wednesday. "Everything we talk about in terms of energy transition is about copper," Anglo American's CEO of Base Metals Ruben Fernandes told Reuters in an interview. Anglo American, a major copper producer, owns copper assets in Chile and Peru - the world's two biggest copper-producing countries.
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By Mai Nguyen SINGAPORE, Nov 23 (Reuters) - The Russia-Ukraine war has quickened countries' transition to renewable energy, underpinning current and future demand for copper, a company executive at global miner Anglo American PLC AAL.L said on Wednesday. That trend has fuelled appetite for copper, which is used in both solar and wind power plants, as well as in electric vehicles. "This war somehow amplifies the situation.
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3106.0
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2022-11-22 00:00:00 UTC
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5 Stocks Promising Abundant Gains This Thanksgiving Week
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AAL
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https://www.nasdaq.com/articles/5-stocks-promising-abundant-gains-this-thanksgiving-week
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With the start of the Thanksgiving week, investors are bullish on U.S. stocks, given its history of strong market performance. This is especially true as the holiday-shortened week is usually a bullish feast for stock investors, even with low volumes, as consumer spending is expected to rise.
Consumer spending is likely to reach $125 billion, up 10% year over year, this Thanksgiving weekend despite higher inflation and higher interest rates. This would propel the economy and stocks higher.
To tap the trend, investors could reap solid gains by investing in stocks of the industries likely to benefit the most this week. Some of these are Chipotle Mexican Grill CMG, Dillard's DDS, American Airlines Group AAL, Canadian National Railway CNI and MakeMyTrip Limited MMYT.
These stocks have a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) and a Growth Score of B or better. They have also witnessed positive earnings estimate revision for the holiday quarter over the past 30 or 60 days. You can see the complete list of today’s Zacks #1 Rank stocks here.
Solid Historical Trends
While elevated inflation, Fed’s aggressive rate hike and recession fears have been playing foul on the stock market, higher consumer spending should provide a boost to the stocks this week. According to Bespoke Investment Group, the Thanksgiving week has returned modest gains for stocks dating back to 1945.
Researchers say that since then, the entire week of Thanksgiving has averaged a 60-basis-point gain for the S&P 500, with the best returns coming on Wednesday before the holiday and Black Friday and the only decline on average on Monday at the start of the week.
Per researchers, the S&P 500 Index has gained 0.54% on average during the week over the past 50 years, with 68% of the returns coming in positive.
Bright Spots
According to the National Retail Federation, a record 166.3 million people are planning to shop from Thanksgiving Day through Cyber Monday this year. This represents 8 million more people than last year and is the highest estimate since NRF began tracking this data in 2017.
Americans will spend $125 billion, up 10% from last year. About 89% of consumers expect to shop in the period beginning Thanksgiving Day and ending Cyber Monday, despite concerns of inflation and rising interest rates.
Black Friday continues to be the most popular shopping day, with 69% planning to splurge, followed by 38% on Cyber Monday. Among the 114.9 million Black Friday shoppers, 67% say they expect to head to stores, up from 64% in 2021.
Online search (43%) remains the most popular source of gift inspiration, followed by friends and family (35%), and within a retail store (31%). The top five gift categories that consumers plan to give are clothing (55%), followed by gift cards at 45%, toys at 37%, books/music/movies/video games at 33%, and food/candy at 31%.
Travel service provider American Automobile Association (AAA) expects 2022 to be the third-busiest Thanksgiving travel season in the United States over the last two decades.
About 54.6 million people will travel 50 miles or more from home this Thanksgiving. This is up 1.5% from last year and represents 98% of the pre-pandemic volumes. Of them, 49 million (up 0.4% from the last year) will go on road trips, 4.5 million (up 8%) will fly, and the remaining 1.4 million (up 23%) will travel by train, bus or cruise.
However, Americans are bracing for a costly Thanksgiving this year, with double-digit percent increases in the price of turkey, potatoes, stuffing, canned pumpkin and other staples. The average cost of serving 10 people for Thanksgiving is expected to be $64.05 (or less than $6.50 per person), up 20% from last year’s average of $53.31, according to the American Farm Bureau Federation's annual Thanksgiving dinner cost survey. Higher prices should benefit restaurant companies.
Stocks to Shower Gains
Chipotle Mexican, together with its subsidiaries, operates quick-casual and fresh Mexican food restaurant chains. Chipotle restaurants feature free-range, hormone-free pork, natural chicken and other meat products cooked through traditional methods and served in a unique atmosphere. The company has a market cap of $41.6 billion.
Chipotle Mexican saw solid earnings estimates revision of 38 cents over the past month for the holiday quarter. The stock carries a Zacks Rank #2 and a Growth Score of A.
Dillard's is a large departmental store chain featuring fashion apparel and home furnishings. It also sells its merchandize through the Internet at www.dillards.com. Stores are mainly located in the Southwest, Southeast, and Midwest regions of the United States.
Dillard's has witnessed a solid earnings estimate revision of $2.37 for the current quarter in a month. With a market cap of $6.2 billion, DDS has a Zacks Rank #1 and a Growth Score of B.
American Airlines, through its subsidiaries, operates as a network air carrier. The company provides scheduled air transportation services for passengers and cargo through its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, Phoenix, and Washington, D.C., as well as through partner gateways in London, Madrid, Seattle/Tacoma, Sydney, and Tokyo. AAL has a market cap of $9.1 billion.
American Airlines saw a solid earnings estimate revision of 41 cents over the past 30 days for the holiday quarter. It has a Zacks Rank #3 and a Growth Score of B.
Canadian National is engaged in the rail and related transportation business. It operates as the largest rail network in Canada and is the only transcontinental network in North America. Canadian National saw positive earnings estimates revision of three cents over the past month for the holiday quarter.
Canadian National has a market cap of $84.2 billion. It has a Zacks Rank #3 and a Growth Score of B.
MakeMyTrip is an online travel service company, which offers travel products and solutions in India and the United States. The company's services and products include air tickets, customized holiday packages, hotel booking, railway tickets, bus tickets, car hire and facilitating access to travel insurance. MakeMyTrip has witnessed a solid earnings estimate revision of 5 cents for the current quarter over the past 30 days.
With a market cap of $3 billion, MMYT has a Zacks Rank #2 and a Growth Score of A.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Dillard's, Inc. (DDS): Free Stock Analysis Report
Canadian National Railway Company (CNI): Free Stock Analysis Report
Chipotle Mexican Grill, Inc. (CMG): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
MakeMyTrip Limited (MMYT): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Some of these are Chipotle Mexican Grill CMG, Dillard's DDS, American Airlines Group AAL, Canadian National Railway CNI and MakeMyTrip Limited MMYT. AAL has a market cap of $9.1 billion. American Airlines Group Inc. (AAL): Free Stock Analysis Report
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Some of these are Chipotle Mexican Grill CMG, Dillard's DDS, American Airlines Group AAL, Canadian National Railway CNI and MakeMyTrip Limited MMYT. AAL has a market cap of $9.1 billion. American Airlines Group Inc. (AAL): Free Stock Analysis Report
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Some of these are Chipotle Mexican Grill CMG, Dillard's DDS, American Airlines Group AAL, Canadian National Railway CNI and MakeMyTrip Limited MMYT. AAL has a market cap of $9.1 billion. American Airlines Group Inc. (AAL): Free Stock Analysis Report
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Some of these are Chipotle Mexican Grill CMG, Dillard's DDS, American Airlines Group AAL, Canadian National Railway CNI and MakeMyTrip Limited MMYT. AAL has a market cap of $9.1 billion. American Airlines Group Inc. (AAL): Free Stock Analysis Report
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3107.0
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2022-11-21 00:00:00 UTC
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US STOCKS-China COVID cases weigh on Wall St; Disney jumps
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AAL
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https://www.nasdaq.com/articles/us-stocks-china-covid-cases-weigh-on-wall-st-disney-jumps
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window
Disney up on Iger's return as CEO
S&P 500 energy index leads sectoral falls
Grindr slips after rocketing in debut
Tesla down on vehicle recall, China COVID concerns
Dow up 0.01%, S&P 500 down 0.34%, Nasdaq down 1.05%
Adds comments, details; updates prices throughout
By Carolina Mandl and Ankika Biswas
Nov 21 (Reuters) - Wall Street's main indexes started the week roughly lower on China saying it faced its most severe test of the coronavirus pandemic, but trimmed losses after the San Francisco Federal Reserve President Mary Daly commented that officials need to be careful to avoid a "painful downturn."
Given that markets have priced in a monetary policy setting that is well beyond what the Fed has imposed on the economy so far, Daly said on Monday "it will be important to remain conscious of this gap between the federal funds rate and the tightening in financial markets. Ignoring it raises the chances of tightening too much."
By 2:20 p.m. ET, the Dow Jones Industrial Average .DJI was up 37.97 points, or 0.11%, to 33,783.66, the S&P 500 .SPX lost 8.85 points, or 0.22%, to 3,956.49 and the Nasdaq Composite .IXIC dropped 102.38 points, or 0.92%, to 11,043.68.
Beijing said on Monday it would shut businesses and schools in hard-hit districts and tighten rules for entering the city, as infections ticked higher, spooking investors.
"There is this fear that China might reinstitute some of the COVID restrictions that they've just purportedly started to lift," said Carol Schleif, deputy chief investment officer at BMO Family Office. "That's a piece of what's driving the tech stocks down because we rely so much on China and Taiwan for critical components."
U.S. casino operators with businesses in China including Wynn Resorts Ltd WYNN.O, Las Vegas Sands Corp LVS.N, MGM Resorts International MGM.N and Melco Resorts & Entertainment Ltd MLCO.O slipped between 2.5395% and 7.6043%.
Travel stocks including American Airlines Group Inc AAL.O and Norwegian Cruise Line Holdings Ltd NCLH.N fell % and 1.2%, respectively.
The S&P 500 energy sector index .SPNY slid almost 3% on Monday to its lowest level in four weeks as oil prices tumbled more than 5% after a report that Saudi Arabia and other OPEC oil producers were discussing an output increase. The index, however, pared losses after Saudi Arabia denied talks about it.
Energy was the only major S&P 500 sector eying gains for the year, surging around 63%.
Walt Disney Co DIS.N jumped 5.7898% after Bob Iger's return as chief executive to the entertainment giant.
The S&P 500 extended its fall from the previous week when multiple Federal Reserve officials reiterated the central bank's pledge to raise rates until inflation was in check, as investors now await the release of minutes from the Fed's November meeting on Wednesday.
Traders are widely betting on a 50-basis point hike in the December meeting, with a peak for rates expected in June. FEDWATCH
Among other stocks, Tesla Inc TSLA.O shed -6.6374% after the electric-car maker said it will recall vehicles in the United States over an issue that may cause tail lights to intermittently fail to illuminate.
Gay dating app Grindr GRND.Nplummeted amid a broader market weakness, after skyrocketing in its debut on the New York Stock Exchange in the previous session.
Trading volumes are likely to be thin this week as markets will be closed on Thursday for the Thanksgiving holiday and will be open for half day on Friday.
Declining issues outnumbered advancing ones on the NYSE by a 1.26-to-1 ratio; on Nasdaq, a 1.57-to-1 ratio favored decliners.
The S&P 500 posted 9 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 76 new highs and 194 new lows.
(Reporting by Ankika Biswas, Shubham Batra and Shreyashi Sanyal in Bengaluru; Editing by Arun Koyyur, Shounak Dasgupta and Grant McCool)
((Shreyashi.Sanyal@thomsonreuters.com; +1 646 223 8780; +91 961 144 3740; Twitter: https://twitter.com/s_shreyashi))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Travel stocks including American Airlines Group Inc AAL.O and Norwegian Cruise Line Holdings Ltd NCLH.N fell % and 1.2%, respectively. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Disney up on Iger's return as CEO S&P 500 energy index leads sectoral falls Grindr slips after rocketing in debut Tesla down on vehicle recall, China COVID concerns Dow up 0.01%, S&P 500 down 0.34%, Nasdaq down 1.05% Adds comments, details; updates prices throughout By Carolina Mandl and Ankika Biswas Nov 21 (Reuters) - Wall Street's main indexes started the week roughly lower on China saying it faced its most severe test of the coronavirus pandemic, but trimmed losses after the San Francisco Federal Reserve President Mary Daly commented that officials need to be careful to avoid a "painful downturn." The S&P 500 extended its fall from the previous week when multiple Federal Reserve officials reiterated the central bank's pledge to raise rates until inflation was in check, as investors now await the release of minutes from the Fed's November meeting on Wednesday.
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Travel stocks including American Airlines Group Inc AAL.O and Norwegian Cruise Line Holdings Ltd NCLH.N fell % and 1.2%, respectively. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Disney up on Iger's return as CEO S&P 500 energy index leads sectoral falls Grindr slips after rocketing in debut Tesla down on vehicle recall, China COVID concerns Dow up 0.01%, S&P 500 down 0.34%, Nasdaq down 1.05% Adds comments, details; updates prices throughout By Carolina Mandl and Ankika Biswas Nov 21 (Reuters) - Wall Street's main indexes started the week roughly lower on China saying it faced its most severe test of the coronavirus pandemic, but trimmed losses after the San Francisco Federal Reserve President Mary Daly commented that officials need to be careful to avoid a "painful downturn." The S&P 500 extended its fall from the previous week when multiple Federal Reserve officials reiterated the central bank's pledge to raise rates until inflation was in check, as investors now await the release of minutes from the Fed's November meeting on Wednesday.
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Travel stocks including American Airlines Group Inc AAL.O and Norwegian Cruise Line Holdings Ltd NCLH.N fell % and 1.2%, respectively. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Disney up on Iger's return as CEO S&P 500 energy index leads sectoral falls Grindr slips after rocketing in debut Tesla down on vehicle recall, China COVID concerns Dow up 0.01%, S&P 500 down 0.34%, Nasdaq down 1.05% Adds comments, details; updates prices throughout By Carolina Mandl and Ankika Biswas Nov 21 (Reuters) - Wall Street's main indexes started the week roughly lower on China saying it faced its most severe test of the coronavirus pandemic, but trimmed losses after the San Francisco Federal Reserve President Mary Daly commented that officials need to be careful to avoid a "painful downturn." Given that markets have priced in a monetary policy setting that is well beyond what the Fed has imposed on the economy so far, Daly said on Monday "it will be important to remain conscious of this gap between the federal funds rate and the tightening in financial markets.
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Travel stocks including American Airlines Group Inc AAL.O and Norwegian Cruise Line Holdings Ltd NCLH.N fell % and 1.2%, respectively. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Disney up on Iger's return as CEO S&P 500 energy index leads sectoral falls Grindr slips after rocketing in debut Tesla down on vehicle recall, China COVID concerns Dow up 0.01%, S&P 500 down 0.34%, Nasdaq down 1.05% Adds comments, details; updates prices throughout By Carolina Mandl and Ankika Biswas Nov 21 (Reuters) - Wall Street's main indexes started the week roughly lower on China saying it faced its most severe test of the coronavirus pandemic, but trimmed losses after the San Francisco Federal Reserve President Mary Daly commented that officials need to be careful to avoid a "painful downturn." Given that markets have priced in a monetary policy setting that is well beyond what the Fed has imposed on the economy so far, Daly said on Monday "it will be important to remain conscious of this gap between the federal funds rate and the tightening in financial markets.
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3108.0
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2022-11-21 00:00:00 UTC
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U.S. court voids class action against Boeing, Southwest over 737 MAX safety
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https://www.nasdaq.com/articles/u.s.-court-voids-class-action-against-boeing-southwest-over-737-max-safety
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By Jonathan Stempel
Nov 21 (Reuters) - A U.S. appeals court on Monday decertified a class-action lawsuit accusing Boeing Co BA.N and Southwest Airlines Co LUV.N of covering up a fatal flaw in the design of the Boeing 737 MAX 8 plane, and ordered the lawsuit be dismissed.
In a 3-0 decision, the 5th U.S. Circuit Court of Appeals in New Orleans said passengers who claimed they were overcharged on nearly 200 million tickets bought over an 18-month period were unable to establish harm, depriving federal courts of jurisdiction.
Brian Dunne, whose law firm represented the plaintiffs, declined to comment. Boeing and Southwest did not immediately respond to requests for comment.
Southwest, Boeing's launch customer for the plane, was accused of having pressured Boeing into deceiving Federal Aviation Administration (FAA) officials during the MAX 8's testing and certification process, ostensibly to lower pilot training costs.
Passengers claimed they overpaid for tickets on Southwest and American Airlines AAL.O, which also flew the MAX 8, because Boeing and Southwest overstated the plane's safety.
Circuit Judge Andrew Oldham, however, said the plaintiffs at most complained of a "past risk of physical injury to which they were allegedly exposed because of defendants' fraud.
"Because that risk never materialized, plaintiffs have suffered no injury in fact and lack ... standing," he said.
The Boeing plane was grounded for more than 1-1/2 years in the United States after 346 people died in two crashes in Indonesia and Ethiopia in October 2018 and March 2019.
(Reporting by Jonathan Stempel in New York; Editing by Chris Reese; Editing by David Gregorio)
((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters Messaging: jon.stempel.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Passengers claimed they overpaid for tickets on Southwest and American Airlines AAL.O, which also flew the MAX 8, because Boeing and Southwest overstated the plane's safety. By Jonathan Stempel Nov 21 (Reuters) - A U.S. appeals court on Monday decertified a class-action lawsuit accusing Boeing Co BA.N and Southwest Airlines Co LUV.N of covering up a fatal flaw in the design of the Boeing 737 MAX 8 plane, and ordered the lawsuit be dismissed. Circuit Judge Andrew Oldham, however, said the plaintiffs at most complained of a "past risk of physical injury to which they were allegedly exposed because of defendants' fraud.
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Passengers claimed they overpaid for tickets on Southwest and American Airlines AAL.O, which also flew the MAX 8, because Boeing and Southwest overstated the plane's safety. By Jonathan Stempel Nov 21 (Reuters) - A U.S. appeals court on Monday decertified a class-action lawsuit accusing Boeing Co BA.N and Southwest Airlines Co LUV.N of covering up a fatal flaw in the design of the Boeing 737 MAX 8 plane, and ordered the lawsuit be dismissed. (Reporting by Jonathan Stempel in New York; Editing by Chris Reese; Editing by David Gregorio) ((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters Messaging: jon.stempel.thomsonreuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Passengers claimed they overpaid for tickets on Southwest and American Airlines AAL.O, which also flew the MAX 8, because Boeing and Southwest overstated the plane's safety. By Jonathan Stempel Nov 21 (Reuters) - A U.S. appeals court on Monday decertified a class-action lawsuit accusing Boeing Co BA.N and Southwest Airlines Co LUV.N of covering up a fatal flaw in the design of the Boeing 737 MAX 8 plane, and ordered the lawsuit be dismissed. Southwest, Boeing's launch customer for the plane, was accused of having pressured Boeing into deceiving Federal Aviation Administration (FAA) officials during the MAX 8's testing and certification process, ostensibly to lower pilot training costs.
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Passengers claimed they overpaid for tickets on Southwest and American Airlines AAL.O, which also flew the MAX 8, because Boeing and Southwest overstated the plane's safety. In a 3-0 decision, the 5th U.S. Brian Dunne, whose law firm represented the plaintiffs, declined to comment.
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3109.0
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2022-11-21 00:00:00 UTC
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US STOCKS-Wall Street slips as concerns rise of stricter China COVID curbs
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https://www.nasdaq.com/articles/us-stocks-wall-street-slips-as-concerns-rise-of-stricter-china-covid-curbs-0
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By Carolina Mandl
Nov 21 (Reuters) - Wall Street's main indexes ended Monday roughly down on fears that China could resume stricter measures to fight COVID-19 after it said it faces its most severe test of the pandemic.
"There is this fear that China might reinstitute some of the COVID restrictions that they've just purportedly started to lift," said Carol Schleif, deputy chief investment officer at BMO Family Office.
U.S. casino operators with businesses in China including Wynn Resorts Ltd WYNN.O, Las Vegas Sands Corp LVS.N, MGM Resorts International MGM.N and Melco Resorts & Entertainment Ltd MLCO.O all fell at least 2%.
The Dow Jones Industrial Average .DJI fell 45.41 points, or 0.13%, to 33,700.28, the S&P 500 .SPX lost 15.4 points, or 0.39%, to 3,949.94 and the Nasdaq Composite .IXIC dropped 121.55 points, or 1.09%, to 11,024.51.
Trading volume was low on Monday, and likely to lessen towards the Thanksgiving holiday on Thursday, leaving markets more prone to volatility.
Volume on U.S. exchanges was 9.43 billion shares, compared with the 11.88 billion average for the full session over the last 20 trading days.
"If you want to blame a little bit of profit taking on some concerns on spikes in COVID cases, that's fine," said Jack Janasiewicz, lead portfolio strategist and portfolio manager at Natixis Investment Managers Solutions. "It gets really tricky because of volume."
Stocks trimmed losses in early afternoon after the San Francisco Federal Reserve President Mary Daly commented that officials need to be careful to avoid a "painful downturn."
Cleveland Fed President Loretta Mester echoed Daly, saying she supports a smaller rate hike in December.
The S&P 500 energy sector index .SPNY fell almost 3% on Monday to its lowest level in four weeks as oil prices tumbled more than 5% after a report that Saudi Arabia and other OPEC oil producers were discussing an output increase. The index, however, pared losses after Saudi Arabia denied talks about it.
Energy was the only major S&P 500 sector eying gains for the year, surging around 63%.
Walt Disney Co DIS.N jumped 6.30% after Bob Iger's return as chief executive to the entertainment giant.
The S&P 500 extended its fall from the previous week when multiple Federal Reserve officials reiterated the central bank's pledge to raise rates until inflation was in check, as investors now await the release of minutes from the Fed's November meeting on Wednesday.
Traders are widely betting on a 50-basis point hike in the December meeting, with a peak for rates expected in June. FEDWATCH
Among other stocks, Tesla Inc TSLA.O plummeted 6.84% after the electric-car maker said it will recall vehicles in the United States over an issue that may cause tail lights to intermittently fail to illuminate.
Gay dating app Grindr GRND.N tumbled 46.00% amid a broader market weakness, after skyrocketing in its debut on the New York Stock Exchange in the previous session.
Declining issues outnumbered advancing ones on the NYSE by a 1.27-to-1 ratio; on Nasdaq, a 1.60-to-1 ratio favored decliners.
The S&P 500 posted 9 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 96 new highs and 220 new lows.
(Reporting by Carolina Mandl, in New York, Ankika Biswas, Shubham Batra and Shreyashi Sanyal in Bengaluru; Editing by Arun Koyyur, Shounak Dasgupta and Grant McCool)
((Shreyashi.Sanyal@thomsonreuters.com; +1 646 223 8780; +91 961 144 3740; Twitter: https://twitter.com/s_shreyashi))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Carolina Mandl Nov 21 (Reuters) - Wall Street's main indexes ended Monday roughly down on fears that China could resume stricter measures to fight COVID-19 after it said it faces its most severe test of the pandemic. Stocks trimmed losses in early afternoon after the San Francisco Federal Reserve President Mary Daly commented that officials need to be careful to avoid a "painful downturn." The S&P 500 extended its fall from the previous week when multiple Federal Reserve officials reiterated the central bank's pledge to raise rates until inflation was in check, as investors now await the release of minutes from the Fed's November meeting on Wednesday.
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The S&P 500 energy sector index .SPNY fell almost 3% on Monday to its lowest level in four weeks as oil prices tumbled more than 5% after a report that Saudi Arabia and other OPEC oil producers were discussing an output increase. The S&P 500 extended its fall from the previous week when multiple Federal Reserve officials reiterated the central bank's pledge to raise rates until inflation was in check, as investors now await the release of minutes from the Fed's November meeting on Wednesday. Gay dating app Grindr GRND.N tumbled 46.00% amid a broader market weakness, after skyrocketing in its debut on the New York Stock Exchange in the previous session.
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The Dow Jones Industrial Average .DJI fell 45.41 points, or 0.13%, to 33,700.28, the S&P 500 .SPX lost 15.4 points, or 0.39%, to 3,949.94 and the Nasdaq Composite .IXIC dropped 121.55 points, or 1.09%, to 11,024.51. The S&P 500 energy sector index .SPNY fell almost 3% on Monday to its lowest level in four weeks as oil prices tumbled more than 5% after a report that Saudi Arabia and other OPEC oil producers were discussing an output increase. (Reporting by Carolina Mandl, in New York, Ankika Biswas, Shubham Batra and Shreyashi Sanyal in Bengaluru; Editing by Arun Koyyur, Shounak Dasgupta and Grant McCool) ((Shreyashi.Sanyal@thomsonreuters.com; +1 646 223 8780; +91 961 144 3740; Twitter: https://twitter.com/s_shreyashi)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Trading volume was low on Monday, and likely to lessen towards the Thanksgiving holiday on Thursday, leaving markets more prone to volatility. Volume on U.S. exchanges was 9.43 billion shares, compared with the 11.88 billion average for the full session over the last 20 trading days. The S&P 500 energy sector index .SPNY fell almost 3% on Monday to its lowest level in four weeks as oil prices tumbled more than 5% after a report that Saudi Arabia and other OPEC oil producers were discussing an output increase.
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3110.0
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2022-11-21 00:00:00 UTC
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US STOCKS-Energy shares, China COVID cases weigh on Wall St; Disney jumps
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AAL
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https://www.nasdaq.com/articles/us-stocks-energy-shares-china-covid-cases-weigh-on-wall-st-disney-jumps
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window
Disney up on Iger's return as CEO
S&P 500 energy index leads sectoral falls
Grindr slips after rocketing in debut
Tesla down on vehicle recall, China COVID concerns
Indexes down: Dow 0.22%, S&P 0.51%, Nasdaq 1.06%
Adds comments, details; updates prices throughout
By Ankika Biswas and Shreyashi Sanyal
Nov 21 (Reuters) - Wall Street's main indexes started the week lower due to a rise in COVID-19 cases in China and declines in energy stocks following a report of a likely increase in oil output, while gains in Disney helped ease pressure on the Dow and S&P 500.
The S&P 500 energy sector index .SPNY slid 2.71% on Monday to its lowest level in four weeks as oil pricesLCOc1, CLc1 tumbled more than 5% after a report that Saudi Arabia and other OPEC oil producers were discussing an output increase.
Energy was the only major S&P 500 sector eying gains for the year, surging around 58%.
Global markets were spooked as Beijing warned it was facing its most severe test of the pandemic, shutting businesses and schools in hard-hit districts and tightening rules for entering the city as infections ticked higher.
"You're going to have disruption of goods, all the more incentive for companies to find near-shoring and on-shoring opportunities to better diversify their supply chains," said Jonathan Waite, fund manager at Frost Investment Advisors.
U.S. casino operators with businesses in China including Wynn Resorts Ltd WYNN.O, Las Vegas Sands Corp LVS.N, MGM Resorts International MGM.N and Melco Resorts & Entertainment Ltd MLCO.O slipped between 2.4% and 7.1%.
Travel stocks including American Airlines Group Inc AAL.O and Norwegian Cruise Line Holdings Ltd NCLH.N fell 0.5% and 1.2%, respectively.
Keeping declines on the Dow Jones Industrial Average .DJI and S&P 500 .SPX in check was a 5.8% jump in Walt Disney Co DIS.N after Bob Iger's return as chief executive to the entertainment giant.
At 12:13 p.m. ET, the Dow was down 75.76 points, or 0.22%, at 33,669.93, the S&P 500 was down 20.18 points, or 0.51%, at 3,945.16, and the Nasdaq Composite .IXIC was down 118.22 points, or 1.06%, at 11,027.85.
The S&P 500 extended its fall from the previous week when multiple Federal Reserve officials reiterated the central bank's pledge to raise rates until inflation was in check, as investors now await the release of minutes from the Fed's November meeting on Wednesday.
Traders are widely betting on a 50-basis point hike in the December meeting, with a peak for rates expected in June. FEDWATCH
Among other stocks, Tesla Inc TSLA.O shed 5.2% after the electric-car maker said it will recall vehicles in the U.S. over an issue that may cause tail lights to intermittently fail to illuminate.
Gay dating app Grindr GRND.N plummeted 27.2% amid a broader market weakness, after skyrocketing in its debut on the New York Stock Exchange in the previous session.
Trading volumes are likely to be thin this week as markets will be closed on Thursday for Thanksgiving and will be open for half day on Friday.
Declining issues outnumbered advancers for a 1.61-to-1 ratio on the NYSE and a 1.69-to-1 ratio on the Nasdaq.
The S&P index recorded eight new 52-week highs and two new lows, while the Nasdaq recorded 68 new highs and 156 new lows.
(Reporting by Ankika Biswas, Shubham Batra and Shreyashi Sanyal in Bengaluru; Editing by Arun Koyyur and Shounak Dasgupta)
((Shreyashi.Sanyal@thomsonreuters.com; +1 646 223 8780; +91 961 144 3740; Twitter: https://twitter.com/s_shreyashi))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Travel stocks including American Airlines Group Inc AAL.O and Norwegian Cruise Line Holdings Ltd NCLH.N fell 0.5% and 1.2%, respectively. Global markets were spooked as Beijing warned it was facing its most severe test of the pandemic, shutting businesses and schools in hard-hit districts and tightening rules for entering the city as infections ticked higher. "You're going to have disruption of goods, all the more incentive for companies to find near-shoring and on-shoring opportunities to better diversify their supply chains," said Jonathan Waite, fund manager at Frost Investment Advisors.
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Travel stocks including American Airlines Group Inc AAL.O and Norwegian Cruise Line Holdings Ltd NCLH.N fell 0.5% and 1.2%, respectively. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Disney up on Iger's return as CEO S&P 500 energy index leads sectoral falls Grindr slips after rocketing in debut Tesla down on vehicle recall, China COVID concerns Indexes down: Dow 0.22%, S&P 0.51%, Nasdaq 1.06% Adds comments, details; updates prices throughout By Ankika Biswas and Shreyashi Sanyal Nov 21 (Reuters) - Wall Street's main indexes started the week lower due to a rise in COVID-19 cases in China and declines in energy stocks following a report of a likely increase in oil output, while gains in Disney helped ease pressure on the Dow and S&P 500. The S&P 500 energy sector index .SPNY slid 2.71% on Monday to its lowest level in four weeks as oil pricesLCOc1, CLc1 tumbled more than 5% after a report that Saudi Arabia and other OPEC oil producers were discussing an output increase.
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Travel stocks including American Airlines Group Inc AAL.O and Norwegian Cruise Line Holdings Ltd NCLH.N fell 0.5% and 1.2%, respectively. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Disney up on Iger's return as CEO S&P 500 energy index leads sectoral falls Grindr slips after rocketing in debut Tesla down on vehicle recall, China COVID concerns Indexes down: Dow 0.22%, S&P 0.51%, Nasdaq 1.06% Adds comments, details; updates prices throughout By Ankika Biswas and Shreyashi Sanyal Nov 21 (Reuters) - Wall Street's main indexes started the week lower due to a rise in COVID-19 cases in China and declines in energy stocks following a report of a likely increase in oil output, while gains in Disney helped ease pressure on the Dow and S&P 500. The S&P 500 energy sector index .SPNY slid 2.71% on Monday to its lowest level in four weeks as oil pricesLCOc1, CLc1 tumbled more than 5% after a report that Saudi Arabia and other OPEC oil producers were discussing an output increase.
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Travel stocks including American Airlines Group Inc AAL.O and Norwegian Cruise Line Holdings Ltd NCLH.N fell 0.5% and 1.2%, respectively. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Disney up on Iger's return as CEO S&P 500 energy index leads sectoral falls Grindr slips after rocketing in debut Tesla down on vehicle recall, China COVID concerns Indexes down: Dow 0.22%, S&P 0.51%, Nasdaq 1.06% Adds comments, details; updates prices throughout By Ankika Biswas and Shreyashi Sanyal Nov 21 (Reuters) - Wall Street's main indexes started the week lower due to a rise in COVID-19 cases in China and declines in energy stocks following a report of a likely increase in oil output, while gains in Disney helped ease pressure on the Dow and S&P 500. Global markets were spooked as Beijing warned it was facing its most severe test of the pandemic, shutting businesses and schools in hard-hit districts and tightening rules for entering the city as infections ticked higher.
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3111.0
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2022-11-21 00:00:00 UTC
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Wall St weighed down by energy shares, China curbs; Disney supports Dow
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AAL
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https://www.nasdaq.com/articles/wall-st-weighed-down-by-energy-shares-china-curbs-disney-supports-dow
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nan
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By Ankika Biswas and Shreyashi Sanyal
Nov 21 (Reuters) - Wall Street's main indexes began the week on a dull note on Monday due to curbs in China and losses in energy stocks following a report of a likely increase in oil output, while gains in Disney helped ease the pressure on the Dow.
The S&P 500 energy sector index .SPNY tumbled 4% to its lowest level in four weeks as oil prices slid more than 5% LCOc1, CLc1 after the Wall Street Journal reported Saudi Arabia and other OPEC oil producers are discussing an output increase.O/R
Global markets were also spooked by a surge in COVID cases in China as the world's second largest economy shut businesses and schools in hard-hit districts and tightening rules for entering the city as infections ticked higher.
"You've got a real concern about the Chinese economy's drag on U.S. economic activity," said Hugh Johnson, chief economist of Hugh Johnson Economics in Albany, New York.
U.S. casino operators with businesses in China including Wynn Resorts Ltd WYNN.O, Las Vegas Sands Corp LVS.N, MGM Resorts International MGM.N and Melco Resorts & Entertainment Ltd MLCO.O slipped between 3.3% and 8.1%.
Travel stocks including American Airlines Group Inc AAL.O and Norwegian Cruise Line Holdings Ltd NCLH.N fell 0.5% and 1.6%, respectively.
Still, keeping declines on the Dow .DJI on check was a 6.9% jump in Walt Disney Co DIS.N after Bob Iger's return as chief executive to the entertainment giant.
At 10:20 a.m. ET, the Dow Jones Industrial Average .DJI was down 32.02 points, or 0.09%, at 33,713.67, the S&P 500 .SPX was down 14.78 points, or 0.37%, at 3,950.56, and the Nasdaq Composite .IXIC was down 71.08 points, or 0.64%, at 11,074.99.
Only seven of the 11 major S&P 500 sector indexes eked out gains in the first hour of trading.
Focus is also on the release of minutes from the U.S. Federal Reserve's November meeting on Wednesday after some officials reiterated the central bank's pledge to raise rates until inflation was in check.
Fed's Boston chief Susan Collins said on Friday the central bank may need to deliver another 75-basis point rate hike as it seeks to get inflation under control.
While traders are widely betting on a 50-basis point hike in the December meeting, some see 24.2% odds of a 75-bps hike, according to CME Group's FedWatch tool.
Gay dating app Grindr GRND.N lost 20.5%,after skyrocketing in its debut on the New York Stock Exchange in the previous session.
Trading volumes are likely to be thin this week as markets will be closed on Thursday for Thanksgiving and will be open for half day on Friday.
Declining issues outnumbered advancers for a 1.39-to-1 ratio on the NYSE and for a 1.54-to-1 ratio on the Nasdaq.
The S&P index recorded seven new 52-week highs and one new lows, while the Nasdaq recorded 57 new highs and 106 new lows.
(Reporting by Ankika Biswas, Shubham Batra and Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta and Arun Koyyur)
((Shreyashi.Sanyal@thomsonreuters.com; +1 646 223 8780; +91 961 144 3740; Twitter: https://twitter.com/s_shreyashi;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Travel stocks including American Airlines Group Inc AAL.O and Norwegian Cruise Line Holdings Ltd NCLH.N fell 0.5% and 1.6%, respectively. By Ankika Biswas and Shreyashi Sanyal Nov 21 (Reuters) - Wall Street's main indexes began the week on a dull note on Monday due to curbs in China and losses in energy stocks following a report of a likely increase in oil output, while gains in Disney helped ease the pressure on the Dow. The S&P 500 energy sector index .SPNY tumbled 4% to its lowest level in four weeks as oil prices slid more than 5% LCOc1, CLc1 after the Wall Street Journal reported Saudi Arabia and other OPEC oil producers are discussing an output increase.O/R Global markets were also spooked by a surge in COVID cases in China as the world's second largest economy shut businesses and schools in hard-hit districts and tightening rules for entering the city as infections ticked higher.
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Travel stocks including American Airlines Group Inc AAL.O and Norwegian Cruise Line Holdings Ltd NCLH.N fell 0.5% and 1.6%, respectively. By Ankika Biswas and Shreyashi Sanyal Nov 21 (Reuters) - Wall Street's main indexes began the week on a dull note on Monday due to curbs in China and losses in energy stocks following a report of a likely increase in oil output, while gains in Disney helped ease the pressure on the Dow. "You've got a real concern about the Chinese economy's drag on U.S. economic activity," said Hugh Johnson, chief economist of Hugh Johnson Economics in Albany, New York.
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Travel stocks including American Airlines Group Inc AAL.O and Norwegian Cruise Line Holdings Ltd NCLH.N fell 0.5% and 1.6%, respectively. By Ankika Biswas and Shreyashi Sanyal Nov 21 (Reuters) - Wall Street's main indexes began the week on a dull note on Monday due to curbs in China and losses in energy stocks following a report of a likely increase in oil output, while gains in Disney helped ease the pressure on the Dow. The S&P 500 energy sector index .SPNY tumbled 4% to its lowest level in four weeks as oil prices slid more than 5% LCOc1, CLc1 after the Wall Street Journal reported Saudi Arabia and other OPEC oil producers are discussing an output increase.O/R Global markets were also spooked by a surge in COVID cases in China as the world's second largest economy shut businesses and schools in hard-hit districts and tightening rules for entering the city as infections ticked higher.
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Travel stocks including American Airlines Group Inc AAL.O and Norwegian Cruise Line Holdings Ltd NCLH.N fell 0.5% and 1.6%, respectively. By Ankika Biswas and Shreyashi Sanyal Nov 21 (Reuters) - Wall Street's main indexes began the week on a dull note on Monday due to curbs in China and losses in energy stocks following a report of a likely increase in oil output, while gains in Disney helped ease the pressure on the Dow. "You've got a real concern about the Chinese economy's drag on U.S. economic activity," said Hugh Johnson, chief economist of Hugh Johnson Economics in Albany, New York.
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3112.0
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2022-11-21 00:00:00 UTC
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US STOCKS-Wall St eyes lower open as China COVID cases rise; Disney jumps
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AAL
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https://www.nasdaq.com/articles/us-stocks-wall-st-eyes-lower-open-as-china-covid-cases-rise-disney-jumps
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nan
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By Ankika Biswas and Shubham Batra
Nov 21 (Reuters) - Wall Street's main indexes were set to open lower on Monday as COVID-19 flare ups in China reignited concerns about slowing growth, while Disney shares jumped as investors cheered Bob Iger's surprise comeback as chief executive.
Beijing warned it was facing its most severe test of the pandemic, shutting businesses and schools in hard-hit districts and tightening rules for entering the city as infections ticked higher in the capital and nationally.
"You've got a real concern about the Chinese economy's drag on U.S. economic activity," said Hugh Johnson, chief economist of Hugh Johnson Economics in Albany, New York.
U.S. casino operators with businesses in China including Wynn Resorts Ltd WYNN.O, Las Vegas Sands Corp LVS.N, MGM Resorts International MGM.N and Melco Resorts & Entertainment Ltd MLCO.O slipped between 3.3% and 5.8% in premarket trading.
Travel stocks including American Airlines Group Inc AAL.O and Norwegian Cruise Line Holdings Ltd NCLH.N fell 0.7% and 1.2%, respectively.
Still, a 9.7% jump in Walt Disney Co DIS.N was set to limit declines on the Dow Jones Industrial Average .DJI after Bob Iger's return as chief executive to the entertainment giant.
At 8:11 a.m. ET, Dow e-minis 1YMcv1 were down 42 points, or 0.12%, S&P 500 e-minis EScv1 were down 16.25 points, or 0.41%, and Nasdaq 100 e-minis NQcv1 were down 68.5 points, or 0.59%.
U.S.-listed Chinese stocks including Alibaba Group Holding Ltd BABA.N, Pinduoduo Inc PDD.O, JD.com Inc JD.O and Bilibili Inc BILI.O dropped between 2.4% and 5.2%, with the latest wave of COVID-19 cases testing China's resolve to stick to adjustments it has made to its zero-COVID policy.
Focus was also on the release of minutes from the U.S. Federal Reserve's November meeting on Wednesday after some officials reiterated the central bank's pledge to continue monetary policy tightening until inflation was in check.
Fed's Boston chief Susan Collins said on Friday the central bank may need to deliver another 75-basis point rate hike as it seeks to get inflation under control.
"The question is 50 basis points or 75 basis points," Johnson said.
While traders are widely betting on a 50-basis point hike in the December meeting, some see 24.2% odds of a 75-bps hike, according to CME Group's FedWatch tool.
Trading volumes are likely to be thin this week as markets will be closed on Thursday for Thanksgiving and will be open for half day on Friday.
(Reporting by Shubham Batra and Ankika Biswas in Bengaluru; Editing by Shounak Dasgupta)
((Shubham.Batra@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Travel stocks including American Airlines Group Inc AAL.O and Norwegian Cruise Line Holdings Ltd NCLH.N fell 0.7% and 1.2%, respectively. By Ankika Biswas and Shubham Batra Nov 21 (Reuters) - Wall Street's main indexes were set to open lower on Monday as COVID-19 flare ups in China reignited concerns about slowing growth, while Disney shares jumped as investors cheered Bob Iger's surprise comeback as chief executive. Beijing warned it was facing its most severe test of the pandemic, shutting businesses and schools in hard-hit districts and tightening rules for entering the city as infections ticked higher in the capital and nationally.
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Travel stocks including American Airlines Group Inc AAL.O and Norwegian Cruise Line Holdings Ltd NCLH.N fell 0.7% and 1.2%, respectively. "You've got a real concern about the Chinese economy's drag on U.S. economic activity," said Hugh Johnson, chief economist of Hugh Johnson Economics in Albany, New York. U.S.-listed Chinese stocks including Alibaba Group Holding Ltd BABA.N, Pinduoduo Inc PDD.O, JD.com Inc JD.O and Bilibili Inc BILI.O dropped between 2.4% and 5.2%, with the latest wave of COVID-19 cases testing China's resolve to stick to adjustments it has made to its zero-COVID policy.
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Travel stocks including American Airlines Group Inc AAL.O and Norwegian Cruise Line Holdings Ltd NCLH.N fell 0.7% and 1.2%, respectively. By Ankika Biswas and Shubham Batra Nov 21 (Reuters) - Wall Street's main indexes were set to open lower on Monday as COVID-19 flare ups in China reignited concerns about slowing growth, while Disney shares jumped as investors cheered Bob Iger's surprise comeback as chief executive. U.S. casino operators with businesses in China including Wynn Resorts Ltd WYNN.O, Las Vegas Sands Corp LVS.N, MGM Resorts International MGM.N and Melco Resorts & Entertainment Ltd MLCO.O slipped between 3.3% and 5.8% in premarket trading.
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Travel stocks including American Airlines Group Inc AAL.O and Norwegian Cruise Line Holdings Ltd NCLH.N fell 0.7% and 1.2%, respectively. By Ankika Biswas and Shubham Batra Nov 21 (Reuters) - Wall Street's main indexes were set to open lower on Monday as COVID-19 flare ups in China reignited concerns about slowing growth, while Disney shares jumped as investors cheered Bob Iger's surprise comeback as chief executive. Fed's Boston chief Susan Collins said on Friday the central bank may need to deliver another 75-basis point rate hike as it seeks to get inflation under control.
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3113.0
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2022-11-21 00:00:00 UTC
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Australian lawmaker calls for inquiry into coal quality certificates
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AAL
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https://www.nasdaq.com/articles/australian-lawmaker-calls-for-inquiry-into-coal-quality-certificates
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nan
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SYDNEY, Nov 21 (Reuters) - An independent Australian lawmaker on Monday accused companies of lying about the quality of their coal exports for years, and called for a parliamentary inquiry into the matter.
Coal companies operating in Australia are exporting coal with fraudulent quality certificates and paying cover-up bribes to representatives of overseas customers, independent MP Andrew Wilkie said in parliament, citing thousands of documents from a whistleblower.
Wilkie said accounting giant Ernst and Young was aware of the issue, without elaborating, and he also named Macquarie Bank MQG.AX but did not specify how the company was involved.
"Companies operating in Australia are using fraudulent quality reports for their exports, and paying bribes to representatives of their overseas customers to keep the whole scam secret," Wilkie said in his speech in parliament.
"And this has allowed them to claim, for years, that Australian coal is cleaner than it is in order to boost profits and prevent rejection of shipments at their destination," he added.
Coal testing companies SGS and ALS are accused of having participated in the fraud by manually amending certificates of coal quality, Wilkie said.
Anglo-American and Peabody denied the allegations. Glencore said it had not been involved in any investigations or proceedings related to the matter. Ernst and Young and Macquarie Bank declined to comment.
SGS, ALS and TerraCom did not immediately respond to requests for comment.
The allegations were similar to those first reported by the Australian Financial Review in 2020.
Then allegations in an unfair dismissal case claimed Australian miner TerraCom Ltd had worked with ALS’s Brisbane-based testing laboratory to falsely upgrade the quality of its coal in export documentation. TerraCom denied the allegations, while ALS launched an independent investigation into the claims.
ALS said in 2020 the probe found that about half the certificates it provided for export coal samples over the past decade had been manually altered. It did not give a reason for the alterations but said the probe found no evidence of bribery.
Corporate watchdog Australian Securities and Investments Commission (ASIC), which investigated the allegations, said in an October letter to ALS that it had reviewed all the evidence and decided against taking any action against the company.
“However, having regard to ASIC’s jurisdiction, we are currently investigating possible misleading market disclosures by coal miner TerraCom and whistleblower-related matters. The investigation is well advance," an ASIC spokesperson told Reuters, referring to the allegations first made in 2020.
(Reporting by Lewis Jackson; editing by Praveen Menon and Ana Nicolaci da Costa)
((lewis.jackson@thomsonreuters.com; Reuters Messaging: @lewjackk))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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SYDNEY, Nov 21 (Reuters) - An independent Australian lawmaker on Monday accused companies of lying about the quality of their coal exports for years, and called for a parliamentary inquiry into the matter. Then allegations in an unfair dismissal case claimed Australian miner TerraCom Ltd had worked with ALS’s Brisbane-based testing laboratory to falsely upgrade the quality of its coal in export documentation. Corporate watchdog Australian Securities and Investments Commission (ASIC), which investigated the allegations, said in an October letter to ALS that it had reviewed all the evidence and decided against taking any action against the company.
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Coal companies operating in Australia are exporting coal with fraudulent quality certificates and paying cover-up bribes to representatives of overseas customers, independent MP Andrew Wilkie said in parliament, citing thousands of documents from a whistleblower. "Companies operating in Australia are using fraudulent quality reports for their exports, and paying bribes to representatives of their overseas customers to keep the whole scam secret," Wilkie said in his speech in parliament. Coal testing companies SGS and ALS are accused of having participated in the fraud by manually amending certificates of coal quality, Wilkie said.
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Coal companies operating in Australia are exporting coal with fraudulent quality certificates and paying cover-up bribes to representatives of overseas customers, independent MP Andrew Wilkie said in parliament, citing thousands of documents from a whistleblower. Coal testing companies SGS and ALS are accused of having participated in the fraud by manually amending certificates of coal quality, Wilkie said. Then allegations in an unfair dismissal case claimed Australian miner TerraCom Ltd had worked with ALS’s Brisbane-based testing laboratory to falsely upgrade the quality of its coal in export documentation.
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Coal companies operating in Australia are exporting coal with fraudulent quality certificates and paying cover-up bribes to representatives of overseas customers, independent MP Andrew Wilkie said in parliament, citing thousands of documents from a whistleblower. Coal testing companies SGS and ALS are accused of having participated in the fraud by manually amending certificates of coal quality, Wilkie said. TerraCom denied the allegations, while ALS launched an independent investigation into the claims.
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3114.0
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2022-11-21 00:00:00 UTC
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How American Airlines (AAL) Stock Stands Out in a Strong Industry
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AAL
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https://www.nasdaq.com/articles/how-american-airlines-aal-stock-stands-out-in-a-strong-industry
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nan
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One stock that might be an intriguing choice for investors right now is American Airlines Group Inc. AAL. This is because this security in the Transportation - Airline space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Transportation - Airline space as it currently has a Zacks Industry Rank of 68 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
Meanwhile, American Airlines is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.
American Airlines Group Inc. Price and Consensus
American Airlines Group Inc. price-consensus-chart | American Airlines Group Inc. Quote
In fact, over the past month, current quarter estimates have risen from 13 cents per share to 54 cents per share, while current year estimates have narrowed from a loss of 82 cents per share to a loss of 21 cents per share. The company currently carries a Zacks Rank #3 (Hold), which is also a favorable signal. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
So, if you are looking for a decent pick in a strong industry, consider American Airlines. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.
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American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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One stock that might be an intriguing choice for investors right now is American Airlines Group Inc. AAL. American Airlines Group Inc. (AAL): Free Stock Analysis Report This is because this security in the Transportation - Airline space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
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One stock that might be an intriguing choice for investors right now is American Airlines Group Inc. AAL. American Airlines Group Inc. (AAL): Free Stock Analysis Report This is because this security in the Transportation - Airline space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
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American Airlines Group Inc. (AAL): Free Stock Analysis Report One stock that might be an intriguing choice for investors right now is American Airlines Group Inc. AAL. This is because this security in the Transportation - Airline space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
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One stock that might be an intriguing choice for investors right now is American Airlines Group Inc. AAL. American Airlines Group Inc. (AAL): Free Stock Analysis Report This is because this security in the Transportation - Airline space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
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3115.0
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2022-11-18 00:00:00 UTC
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American Airlines, JetBlue alliance will harm travelers, U.S. argues
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AAL
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https://www.nasdaq.com/articles/american-airlines-jetblue-alliance-will-harm-travelers-u.s.-argues
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By David Shepardson
Nov 18 (Reuters) - Lawyers for the U.S. Justice Department said American Airlines Group's AAL.O alliance with JetBlue Airways Corp JBLU.O would harm travelers while the airlines pushed back during closing arguments on Friday in the government's bid to dissolve the partnership.
The department, six states and the District of Columbia have called the "Northeast alliance "a "de facto merger" of the companies' Boston and New York operations. Through the alliance, the airlines coordinate flights and pool revenue to the detriment of travelers, said the department, arguing consumers face nearly $700 million in extra annual costs.
U.S. District Judge Leo Sorokin in Boston plans to hold another hearing before he issues a decision in the case.
Justice Department lawyer Bill Jones argued the alliance gives the airlines incentives to raise prices and that they are no longer competing.
"This is a bad deal for travelers," Jones said, saying it was important because of the impact on families that travel and who want affordable tickets and good service.
Jones added the government wants to ensure as much competition as possible in the airline sector "and this deal threatens to do exactly the opposite."
Lawyers for JetBlue and American argued the alliance, which was announced in 2020, has not raised air fares or resulted in flight cuts. They say it has expanded flights and made them more competitive with Delta Air Lines DAL.N and United Airlines UAL.Oon northeast routes.
Daniel Wall, a lawyer for American, rejected the government's analysis that the alliance will hike consumer prices and argued "it makes these markets more competitive than they otherwise were."
Wall said consumers or the Justice Department could file suit at a later date if the alliance was proven to be anticompetitive. "This is not a situation in which you need to destroy the consumer benefits of the (alliance) based upon the speculation the other side is giving you," Wall said.
Last month, U.S. carrier Spirit Airlines' SAVE.Nshareholders voted in favor of JetBlue's $3.8 billion takeover offer, but face an uphill struggle for regulatory approval.
(Reporting by David Shepardson; Editing by Josie Kao)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson Nov 18 (Reuters) - Lawyers for the U.S. Justice Department said American Airlines Group's AAL.O alliance with JetBlue Airways Corp JBLU.O would harm travelers while the airlines pushed back during closing arguments on Friday in the government's bid to dissolve the partnership. Through the alliance, the airlines coordinate flights and pool revenue to the detriment of travelers, said the department, arguing consumers face nearly $700 million in extra annual costs. Daniel Wall, a lawyer for American, rejected the government's analysis that the alliance will hike consumer prices and argued "it makes these markets more competitive than they otherwise were."
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By David Shepardson Nov 18 (Reuters) - Lawyers for the U.S. Justice Department said American Airlines Group's AAL.O alliance with JetBlue Airways Corp JBLU.O would harm travelers while the airlines pushed back during closing arguments on Friday in the government's bid to dissolve the partnership. Through the alliance, the airlines coordinate flights and pool revenue to the detriment of travelers, said the department, arguing consumers face nearly $700 million in extra annual costs. Justice Department lawyer Bill Jones argued the alliance gives the airlines incentives to raise prices and that they are no longer competing.
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By David Shepardson Nov 18 (Reuters) - Lawyers for the U.S. Justice Department said American Airlines Group's AAL.O alliance with JetBlue Airways Corp JBLU.O would harm travelers while the airlines pushed back during closing arguments on Friday in the government's bid to dissolve the partnership. Through the alliance, the airlines coordinate flights and pool revenue to the detriment of travelers, said the department, arguing consumers face nearly $700 million in extra annual costs. Justice Department lawyer Bill Jones argued the alliance gives the airlines incentives to raise prices and that they are no longer competing.
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By David Shepardson Nov 18 (Reuters) - Lawyers for the U.S. Justice Department said American Airlines Group's AAL.O alliance with JetBlue Airways Corp JBLU.O would harm travelers while the airlines pushed back during closing arguments on Friday in the government's bid to dissolve the partnership. Justice Department lawyer Bill Jones argued the alliance gives the airlines incentives to raise prices and that they are no longer competing. Jones added the government wants to ensure as much competition as possible in the airline sector "and this deal threatens to do exactly the opposite."
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3116.0
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2022-11-18 00:00:00 UTC
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Copper treatment charges for Chinese market seen rising in 2023
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AAL
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https://www.nasdaq.com/articles/copper-treatment-charges-for-chinese-market-seen-rising-in-2023
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By Siyi Liu and Mai Nguyen
BEIJING/HANOI, Nov 18 (Reuters) - Global miners and Chinese smelters could set higher annual treatment and refining charges (TC/RCs) in 2023 as rising copper concentrate supply is expected to outpace smelting capacity growth.
The TC/RCs benchmark, referenced in supply contracts globally, is usually taken from the first settlement between a major miner and a smelter in top copper consumer China in annual negotiations.
"2023 undeniably looks like a strong year for concentrate growth. Moreover, it comes at a time of limited Chinese smelter capacity addition," said Colin Hamilton, a managing director at BMO Capital Markets.
"This raises the spectre of a smelter bottleneck for the first time in over a decade, where smelter utilisation is maxed out, forcing excess concentrate to be stockpiled or forced offline via economics," he added.
BMO forecast the 2023 benchmark at $85 a tonne and 8.5 cents per pound, with an upward skew.
This year the benchmark was set at $65 per tonne and 6.5 cents per pound, but China's top copper smelters already lifted their floor TC/RCs in the fourth quarter to a five-year high at $93/9.3c due to a supply glut.
"Buyers will have an upper hand in negotiation," said a Chinese smelter source, who sees the TC jumping to $100 a tonne.
Three sources in China saw the 2023 TC being set at $80-$90 a tonne, and another Chinese smelter source saw the TC rising above $100 a tonne.
Miners pay TC/RCs to smelters to process copper concentrate into refined metal, offsetting the cost of the ore. TC/RCs rise when more supply is available and smelters can demand better terms on feedstock.
Globally, the 2023 concentrate market is also seen in surplus, said Nick Pickens, a research director at consultancy Wood Mackenzie.
Pickens predicts benchmark TC/RCs to be 20%-30% higher than 2022, or around $78/7.8c to $84.5/8.45c.
Market participants pointed to Teck Resources's TECK.K Quebrada Blanca Phase 2 project in Chile and Anglo American PLC's AAL.LQuellaveco project in Peru that would contribute to the rising supply of concentrate.
Meanwhile, Chile's Codelco said it would extend maintenance work at its Chuquicamata smelter to 135 days, from 90 days initially.
Working in miners' favour, however, is China's easing of COVID-19 curbs, which could see higher refined copper demand and smelters consuming more feedstock.
"We have Daye's new smelter ramping up very smoothly and existing Chinese smelters running at very high capacity to satisfy the domestic market which looks promising after the recent (easing) announcements from the Chinese government," a source at a miner said.
Daye Non-ferrous Metals's Hongsheng 400,000 tonne-per-annual refined copper smelter started commissioning a test run from Oct. 23, sources said.
"We can not deny that market will be more favourable to smelters in 2023 than in 2022 and therefore it is reasonable to expect the annual TC/RCs to suffer a moderate increase in the annual negotiations to the 70s level," the miner added.
After years of online meeting due to COVID, some Chinese smelters will meet miners in person in Singapore to discuss TC/RCs settlements, sources said.
Copper concentrate inventories at major Chinese portshttps://tmsnrt.rs/3EjGSq3
Copper concentrate treatment chargeshttps://tmsnrt.rs/3hU0GJ1
China's refined copper outputhttps://tmsnrt.rs/3XeJwWr
China's copper ore and concentrate importshttps://tmsnrt.rs/3EmF7Z0
(Reporting by Mai Nguyen in Hanoi and Siyi Liu in Beijing; Editing by Simon Cameron-Moore)
((mai.nguyen@thomsonreuters.com; +842438259623; Reuters Messaging: mai.nguyen.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Market participants pointed to Teck Resources's TECK.K Quebrada Blanca Phase 2 project in Chile and Anglo American PLC's AAL.LQuellaveco project in Peru that would contribute to the rising supply of concentrate. By Siyi Liu and Mai Nguyen BEIJING/HANOI, Nov 18 (Reuters) - Global miners and Chinese smelters could set higher annual treatment and refining charges (TC/RCs) in 2023 as rising copper concentrate supply is expected to outpace smelting capacity growth. The TC/RCs benchmark, referenced in supply contracts globally, is usually taken from the first settlement between a major miner and a smelter in top copper consumer China in annual negotiations.
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Market participants pointed to Teck Resources's TECK.K Quebrada Blanca Phase 2 project in Chile and Anglo American PLC's AAL.LQuellaveco project in Peru that would contribute to the rising supply of concentrate. By Siyi Liu and Mai Nguyen BEIJING/HANOI, Nov 18 (Reuters) - Global miners and Chinese smelters could set higher annual treatment and refining charges (TC/RCs) in 2023 as rising copper concentrate supply is expected to outpace smelting capacity growth. The TC/RCs benchmark, referenced in supply contracts globally, is usually taken from the first settlement between a major miner and a smelter in top copper consumer China in annual negotiations.
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Market participants pointed to Teck Resources's TECK.K Quebrada Blanca Phase 2 project in Chile and Anglo American PLC's AAL.LQuellaveco project in Peru that would contribute to the rising supply of concentrate. By Siyi Liu and Mai Nguyen BEIJING/HANOI, Nov 18 (Reuters) - Global miners and Chinese smelters could set higher annual treatment and refining charges (TC/RCs) in 2023 as rising copper concentrate supply is expected to outpace smelting capacity growth. "We have Daye's new smelter ramping up very smoothly and existing Chinese smelters running at very high capacity to satisfy the domestic market which looks promising after the recent (easing) announcements from the Chinese government," a source at a miner said.
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Market participants pointed to Teck Resources's TECK.K Quebrada Blanca Phase 2 project in Chile and Anglo American PLC's AAL.LQuellaveco project in Peru that would contribute to the rising supply of concentrate. By Siyi Liu and Mai Nguyen BEIJING/HANOI, Nov 18 (Reuters) - Global miners and Chinese smelters could set higher annual treatment and refining charges (TC/RCs) in 2023 as rising copper concentrate supply is expected to outpace smelting capacity growth. This year the benchmark was set at $65 per tonne and 6.5 cents per pound, but China's top copper smelters already lifted their floor TC/RCs in the fourth quarter to a five-year high at $93/9.3c due to a supply glut.
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3117.0
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2022-11-16 00:00:00 UTC
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Should You Buy Raytheon Technologies Stock At Around $95?
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AAL
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https://www.nasdaq.com/articles/should-you-buy-raytheon-technologies-stock-at-around-%2495
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nan
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Raytheon Technologies stock (NYSE: RTX) has seen a 10% rise this year, far better than the broader S&P500 index, down 17%. However, in the longer term, RTX stock is up 52% from levels seen in late 2018, underperforming the S&P 500 index, up around 60%.
This 52% growth for RTX stock since late 2018 can primarily be attributed to 1. Raytheon Technologies revenue growth of 90% to $66.0 billion over the last twelve months, compared to $34.7 billion in 2018, 2. an 11% fall in its total shares outstanding, driven by around $3 billion the company spent on share repurchases since the end of 2018, partly offset by 3. the company’s P/S ratio falling 29% to 2.1x trailing revenues, from 2.9x in 2018. Higher revenues and lower shares outstanding have bolstered the company’s revenue per share metric, which has risen 113% to $44.75 now, compared to $20.96 in 2018. Our dashboard on Why Raytheon Technologies Stock Moved has more details.
Raytheon has undergone significant restructuring over recent years. United Technologies merged with Raytheon to form Raytheon Technologies in 2020. Furthermore, it spun off its OTIS and Carrier businesses, making Raytheon purely an aerospace and defense-focused company.
Raytheon’s commercial airplane business was also hit during the pandemic weighing on its commercial OEM and aftermarket sales. This trend has now reversed, with both Pratt & Whitney and Collins Aerospace Systems segments driving the sales growth for the company over the recent quarters. This trend is expected to continue, with an expected multi-year recovery in travel demand. However, supply chain headwinds weighed on its defense business. Although the company lowered its 2022 sales outlook to be in the range of $67.0 and $67.3 billion, vs. prior estimate of $67.8 and $68.8 billion, it raised the lower end of its earnings forecast to now be in the range of $4.70 and $4.80, compared to $4.60 and $4.80 earlier, primarily due to a lower expected tax rate.
While the company saw its revenue surge over the recent years, its operating margin has declined slightly to 11.7% now, vs. 13.2% in 2018. Our Raytheon Technologies Operating Income Comparison dashboard has more details.
Given the recent rally in RTX stock, we believe it is appropriately valued now. At its current levels of around $93, it is trading at 2.1x its forward expected revenue of about $44.80 per share, compared to its last four-year average of 1.8x. A slightly higher multiple is justified, given that the company is expected to benefit from rising global travel demand. Also, the ongoing geopolitical tensions should bode well for its defense business. Still, we believe that investors will likely be better off waiting for a dip to enter RTX for better gains in the long term.
While RTX stock looks reasonably valued, it is helpful to see how Raytheon Technologies’ Peers fare on metrics that matter. You will find other valuable comparisons for companies across industries at Peer Comparisons.
Furthermore, the Covid-19 crisis and recent market volatility have created many pricing discontinuities which can offer attractive trading opportunities. For example, you’ll be surprised at how counter-intuitive the stock valuation is for Novanta vs. Abbott.
What if you’re looking for a more balanced portfolio instead? Our high-quality portfolio and multi-strategy portfolio have beaten the market consistently since the end of 2016.
Returns Nov 2022
MTD [1] 2022
YTD [1] 2017-22
Total [2]
RTX Return -2% 10% 55%
S&P 500 Return 2% -17% 77%
Trefis Multi-Strategy Portfolio 5% -18% 223%
[1] Month-to-date and year-to-date as of 11/15/2022
[2] Cumulative total returns since the end of 2016
Invest with Trefis Market-Beating Portfolios
See all Trefis Price Estimates
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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This trend has now reversed, with both Pratt & Whitney and Collins Aerospace Systems segments driving the sales growth for the company over the recent quarters. A slightly higher multiple is justified, given that the company is expected to benefit from rising global travel demand. Furthermore, the Covid-19 crisis and recent market volatility have created many pricing discontinuities which can offer attractive trading opportunities.
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Raytheon Technologies revenue growth of 90% to $66.0 billion over the last twelve months, compared to $34.7 billion in 2018, 2. an 11% fall in its total shares outstanding, driven by around $3 billion the company spent on share repurchases since the end of 2018, partly offset by 3. the company’s P/S ratio falling 29% to 2.1x trailing revenues, from 2.9x in 2018. Higher revenues and lower shares outstanding have bolstered the company’s revenue per share metric, which has risen 113% to $44.75 now, compared to $20.96 in 2018. Total [2] RTX Return -2% 10% 55% S&P 500 Return 2% -17% 77% Trefis Multi-Strategy Portfolio 5% -18% 223% [1] Month-to-date and year-to-date as of 11/15/2022 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Raytheon Technologies revenue growth of 90% to $66.0 billion over the last twelve months, compared to $34.7 billion in 2018, 2. an 11% fall in its total shares outstanding, driven by around $3 billion the company spent on share repurchases since the end of 2018, partly offset by 3. the company’s P/S ratio falling 29% to 2.1x trailing revenues, from 2.9x in 2018. Although the company lowered its 2022 sales outlook to be in the range of $67.0 and $67.3 billion, vs. prior estimate of $67.8 and $68.8 billion, it raised the lower end of its earnings forecast to now be in the range of $4.70 and $4.80, compared to $4.60 and $4.80 earlier, primarily due to a lower expected tax rate. Total [2] RTX Return -2% 10% 55% S&P 500 Return 2% -17% 77% Trefis Multi-Strategy Portfolio 5% -18% 223% [1] Month-to-date and year-to-date as of 11/15/2022 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Raytheon Technologies stock (NYSE: RTX) has seen a 10% rise this year, far better than the broader S&P500 index, down 17%. While RTX stock looks reasonably valued, it is helpful to see how Raytheon Technologies’ Peers fare on metrics that matter. Total [2] RTX Return -2% 10% 55% S&P 500 Return 2% -17% 77% Trefis Multi-Strategy Portfolio 5% -18% 223% [1] Month-to-date and year-to-date as of 11/15/2022 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3118.0
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2022-11-15 00:00:00 UTC
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Chile's Escondida mine workers announce strike amid labor demands
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AAL
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https://www.nasdaq.com/articles/chiles-escondida-mine-workers-announce-strike-amid-labor-demands
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nan
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SANTIAGO, Nov 15 (Reuters) - Workers of Chile's Escondida mine, the world's largest copper mine, decided to go on strike on November 21 and 23 due to labor demands, its No. 1 union said on Tuesday.
(Reporting by Fabian Cambero; Editing by Anthony Esposito)
((Carolina.Pulice@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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SANTIAGO, Nov 15 (Reuters) - Workers of Chile's Escondida mine, the world's largest copper mine, decided to go on strike on November 21 and 23 due to labor demands, its No. 1 union said on Tuesday. (Reporting by Fabian Cambero; Editing by Anthony Esposito) ((Carolina.Pulice@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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SANTIAGO, Nov 15 (Reuters) - Workers of Chile's Escondida mine, the world's largest copper mine, decided to go on strike on November 21 and 23 due to labor demands, its No. 1 union said on Tuesday. (Reporting by Fabian Cambero; Editing by Anthony Esposito) ((Carolina.Pulice@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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SANTIAGO, Nov 15 (Reuters) - Workers of Chile's Escondida mine, the world's largest copper mine, decided to go on strike on November 21 and 23 due to labor demands, its No. 1 union said on Tuesday. (Reporting by Fabian Cambero; Editing by Anthony Esposito) ((Carolina.Pulice@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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SANTIAGO, Nov 15 (Reuters) - Workers of Chile's Escondida mine, the world's largest copper mine, decided to go on strike on November 21 and 23 due to labor demands, its No. 1 union said on Tuesday. (Reporting by Fabian Cambero; Editing by Anthony Esposito) ((Carolina.Pulice@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3119.0
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2022-11-15 00:00:00 UTC
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Noteworthy Tuesday Option Activity: EQIX, ATVI, AAL
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https://www.nasdaq.com/articles/noteworthy-tuesday-option-activity%3A-eqix-atvi-aal
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Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Equinix Inc (Symbol: EQIX), where a total of 2,428 contracts have traded so far, representing approximately 242,800 underlying shares. That amounts to about 45% of EQIX's average daily trading volume over the past month of 539,005 shares. Particularly high volume was seen for the $540 strike call option expiring November 18, 2022, with 761 contracts trading so far today, representing approximately 76,100 underlying shares of EQIX. Below is a chart showing EQIX's trailing twelve month trading history, with the $540 strike highlighted in orange:
Activision Blizzard, Inc. (Symbol: ATVI) options are showing a volume of 25,737 contracts thus far today. That number of contracts represents approximately 2.6 million underlying shares, working out to a sizeable 44.3% of ATVI's average daily trading volume over the past month, of 5.8 million shares. Especially high volume was seen for the $90 strike call option expiring June 16, 2023, with 4,346 contracts trading so far today, representing approximately 434,600 underlying shares of ATVI. Below is a chart showing ATVI's trailing twelve month trading history, with the $90 strike highlighted in orange:
And American Airlines Group Inc (Symbol: AAL) options are showing a volume of 129,116 contracts thus far today. That number of contracts represents approximately 12.9 million underlying shares, working out to a sizeable 41.2% of AAL's average daily trading volume over the past month, of 31.3 million shares. Especially high volume was seen for the $5 strike put option expiring January 17, 2025, with 10,483 contracts trading so far today, representing approximately 1.0 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $5 strike highlighted in orange:
For the various different available expirations for EQIX options, ATVI options, or AAL options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
Construction Dividend Stocks
GOVZ Options Chain
Institutional Holders of SFL
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $5 strike put option expiring January 17, 2025, with 10,483 contracts trading so far today, representing approximately 1.0 million underlying shares of AAL. Below is a chart showing ATVI's trailing twelve month trading history, with the $90 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) options are showing a volume of 129,116 contracts thus far today. That number of contracts represents approximately 12.9 million underlying shares, working out to a sizeable 41.2% of AAL's average daily trading volume over the past month, of 31.3 million shares.
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That number of contracts represents approximately 12.9 million underlying shares, working out to a sizeable 41.2% of AAL's average daily trading volume over the past month, of 31.3 million shares. Below is a chart showing ATVI's trailing twelve month trading history, with the $90 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) options are showing a volume of 129,116 contracts thus far today. Especially high volume was seen for the $5 strike put option expiring January 17, 2025, with 10,483 contracts trading so far today, representing approximately 1.0 million underlying shares of AAL.
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Especially high volume was seen for the $5 strike put option expiring January 17, 2025, with 10,483 contracts trading so far today, representing approximately 1.0 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $5 strike highlighted in orange: For the various different available expirations for EQIX options, ATVI options, or AAL options, visit StockOptionsChannel.com. Below is a chart showing ATVI's trailing twelve month trading history, with the $90 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) options are showing a volume of 129,116 contracts thus far today.
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Especially high volume was seen for the $5 strike put option expiring January 17, 2025, with 10,483 contracts trading so far today, representing approximately 1.0 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $5 strike highlighted in orange: For the various different available expirations for EQIX options, ATVI options, or AAL options, visit StockOptionsChannel.com. Below is a chart showing ATVI's trailing twelve month trading history, with the $90 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) options are showing a volume of 129,116 contracts thus far today.
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3120.0
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2022-11-15 00:00:00 UTC
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U.S. aviation sector calls for 5G wireless deadline extension
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https://www.nasdaq.com/articles/u.s.-aviation-sector-calls-for-5g-wireless-deadline-extension
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By David Shepardson
WASHINGTON, Nov 15 (Reuters) - Air carriers will be unable to fully meet deadlines to retrofit planes to avoid interference from latest generation 5G C-Band wireless service, the aviation industry said Tuesday, urging the White House to help avert a standoff.
Concerns that 5G services could interfere with airplanes' altimeters, which give data on a plane's height above the ground and are crucial for bad-weather landing, led to disruptions at some U.S. airports earlier this year.
A letter signed by Airlines for America, Boeing BA.N Airbus AIR.PA, Embraer EMBR3.SA, aviation unions and others backed the Federal Aviation Administration (FAA) request to mandate an extension of mitigation by wireless carriers as airlines retrofit radio altimeters.
"It is critical to extend these mitigations through the end of 2023 to allow airlines time to complete the retrofit," the letter said. Because of global supply chain issues "air carriers will likely be unable to fully meet either the December 2022 deadlines for smaller regional aircraft and many large transports nor the July 2023 retrofit deadline," it added.
"Our aviation coalition strongly believes that instead of once again waiting until the eleventh hour, now is the time for the leadership at federal agencies and the White House to implement a solution that allows 5G to move forward and avoid further flight delays and cancellations," the letter said.
FAA acting Administrator Billy Nolen urged a delay in some 5G C-Band transmissions from smaller operators over aviation safety concerns.
The aviation industry letter said that since January "the FAA has documented over 100 FAA incidents of potential 5G interference ... Unfortunately, the US government agencies do not appear to be on the same page with respect to these safety issues."
The FAA and White House did not immediately comment.
Nolen said in his Oct. 21 letter, which was first reported by Reuters, that the FAA wants the Federal Communications Commission to mandate voluntary mitigations AT&T T.N and Verizon VZ.N agreed to earlier this year for 19 smaller telecoms and other spectrum holders.
The aviation letter Tuesday said "inter-agency government progress appears to be at a stalemate, while stakeholders are doing their part to address these issue."
Verizon and AT&T in June voluntarily agreed to delay some C-Band 5G usage until July 2023.
Airline CEOs on Jan. 17 had warned of an impending "catastrophic" aviation crisis that could ground almost all traffic because of the 5G deployment.
A deal struck shortly before a January deadline did not prevent dozens of foreign carriers from canceling international flights to the United States.
(Reporting by David Shepardson; Editing by Alexander Smith)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson WASHINGTON, Nov 15 (Reuters) - Air carriers will be unable to fully meet deadlines to retrofit planes to avoid interference from latest generation 5G C-Band wireless service, the aviation industry said Tuesday, urging the White House to help avert a standoff. "Our aviation coalition strongly believes that instead of once again waiting until the eleventh hour, now is the time for the leadership at federal agencies and the White House to implement a solution that allows 5G to move forward and avoid further flight delays and cancellations," the letter said. Nolen said in his Oct. 21 letter, which was first reported by Reuters, that the FAA wants the Federal Communications Commission to mandate voluntary mitigations AT&T T.N and Verizon VZ.N agreed to earlier this year for 19 smaller telecoms and other spectrum holders.
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By David Shepardson WASHINGTON, Nov 15 (Reuters) - Air carriers will be unable to fully meet deadlines to retrofit planes to avoid interference from latest generation 5G C-Band wireless service, the aviation industry said Tuesday, urging the White House to help avert a standoff. A letter signed by Airlines for America, Boeing BA.N Airbus AIR.PA, Embraer EMBR3.SA, aviation unions and others backed the Federal Aviation Administration (FAA) request to mandate an extension of mitigation by wireless carriers as airlines retrofit radio altimeters. FAA acting Administrator Billy Nolen urged a delay in some 5G C-Band transmissions from smaller operators over aviation safety concerns.
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By David Shepardson WASHINGTON, Nov 15 (Reuters) - Air carriers will be unable to fully meet deadlines to retrofit planes to avoid interference from latest generation 5G C-Band wireless service, the aviation industry said Tuesday, urging the White House to help avert a standoff. A letter signed by Airlines for America, Boeing BA.N Airbus AIR.PA, Embraer EMBR3.SA, aviation unions and others backed the Federal Aviation Administration (FAA) request to mandate an extension of mitigation by wireless carriers as airlines retrofit radio altimeters. "Our aviation coalition strongly believes that instead of once again waiting until the eleventh hour, now is the time for the leadership at federal agencies and the White House to implement a solution that allows 5G to move forward and avoid further flight delays and cancellations," the letter said.
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By David Shepardson WASHINGTON, Nov 15 (Reuters) - Air carriers will be unable to fully meet deadlines to retrofit planes to avoid interference from latest generation 5G C-Band wireless service, the aviation industry said Tuesday, urging the White House to help avert a standoff. FAA acting Administrator Billy Nolen urged a delay in some 5G C-Band transmissions from smaller operators over aviation safety concerns. The FAA and White House did not immediately comment.
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2022-11-15 00:00:00 UTC
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U.S. aviation industry urges extension of 5G C-Band deadline
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AAL
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https://www.nasdaq.com/articles/u.s.-aviation-industry-urges-extension-of-5g-c-band-deadline
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nan
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WASHINGTON, Nov 15 (Reuters) - The aviation industry warned Tuesday that air carriers will be unable to fully meet deadlines to retrofit planes to avoid interference from 5G C-Band wireless service and urged the White House to help avert a standoff.
The letter signed by Airlines for America, Boeing BA.N Airbus AIR.PA, Embraer EMBR3.SA, aviation unions and others backed the Federal Aviation Administration request to mandate an extension of mitigation by wireless carriers as airlines retrofit radio altimeters. "It is critical to extend these mitigations through the end of 2023 to allow airlines time to complete the retrofit," the letter said saying because of global supply chain issues "air carriers will likely be unable to fully meet either the December 2022 deadlines for smaller regional aircraft and many large transports nor the July 2023 retrofit deadline."
(Reporting by David Shepardson)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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WASHINGTON, Nov 15 (Reuters) - The aviation industry warned Tuesday that air carriers will be unable to fully meet deadlines to retrofit planes to avoid interference from 5G C-Band wireless service and urged the White House to help avert a standoff. The letter signed by Airlines for America, Boeing BA.N Airbus AIR.PA, Embraer EMBR3.SA, aviation unions and others backed the Federal Aviation Administration request to mandate an extension of mitigation by wireless carriers as airlines retrofit radio altimeters. "It is critical to extend these mitigations through the end of 2023 to allow airlines time to complete the retrofit," the letter said saying because of global supply chain issues "air carriers will likely be unable to fully meet either the December 2022 deadlines for smaller regional aircraft and many large transports nor the July 2023 retrofit deadline."
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WASHINGTON, Nov 15 (Reuters) - The aviation industry warned Tuesday that air carriers will be unable to fully meet deadlines to retrofit planes to avoid interference from 5G C-Band wireless service and urged the White House to help avert a standoff. The letter signed by Airlines for America, Boeing BA.N Airbus AIR.PA, Embraer EMBR3.SA, aviation unions and others backed the Federal Aviation Administration request to mandate an extension of mitigation by wireless carriers as airlines retrofit radio altimeters. "It is critical to extend these mitigations through the end of 2023 to allow airlines time to complete the retrofit," the letter said saying because of global supply chain issues "air carriers will likely be unable to fully meet either the December 2022 deadlines for smaller regional aircraft and many large transports nor the July 2023 retrofit deadline."
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The letter signed by Airlines for America, Boeing BA.N Airbus AIR.PA, Embraer EMBR3.SA, aviation unions and others backed the Federal Aviation Administration request to mandate an extension of mitigation by wireless carriers as airlines retrofit radio altimeters. "It is critical to extend these mitigations through the end of 2023 to allow airlines time to complete the retrofit," the letter said saying because of global supply chain issues "air carriers will likely be unable to fully meet either the December 2022 deadlines for smaller regional aircraft and many large transports nor the July 2023 retrofit deadline." (Reporting by David Shepardson) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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WASHINGTON, Nov 15 (Reuters) - The aviation industry warned Tuesday that air carriers will be unable to fully meet deadlines to retrofit planes to avoid interference from 5G C-Band wireless service and urged the White House to help avert a standoff. The letter signed by Airlines for America, Boeing BA.N Airbus AIR.PA, Embraer EMBR3.SA, aviation unions and others backed the Federal Aviation Administration request to mandate an extension of mitigation by wireless carriers as airlines retrofit radio altimeters. "It is critical to extend these mitigations through the end of 2023 to allow airlines time to complete the retrofit," the letter said saying because of global supply chain issues "air carriers will likely be unable to fully meet either the December 2022 deadlines for smaller regional aircraft and many large transports nor the July 2023 retrofit deadline."
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2022-11-11 00:00:00 UTC
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The Zacks Analyst Blog Highlights Ryanair, Gol Linhas, Frontier Group, American Airlines and Copa Holdings
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AAL
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https://www.nasdaq.com/articles/the-zacks-analyst-blog-highlights-ryanair-gol-linhas-frontier-group-american-airlines-and
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For Immediate Release
Chicago, IL – November 11, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Ryanair Holdings RYAAY, Gol Linhas GOL, Frontier Group ULCC, American Airlines AAL and Copa Holdings CPA.
Here are highlights from Thursday’s Analyst Blog:
Airline Stock Roundup: Earnings, Traffic and More
In the past week, Ryanair Holdings reported lower-than-expected earnings per share for second-quarter fiscal 2023 due to high costs. Gol Linhas posted a 40.9% year-over-year increase in consolidated traffic, reflecting the uptick in air-travel demand. Hurricane Nicole was the latest weather-related disruption to hurt airline operations. An expansion-related update was also available at Frontier Airlines, the wholly-owned subsidiary of Frontier Group, in the past week.
Recap of the Latest Top Stories
1, Ryanair’s second-quarter fiscal 2023 (ended Sep 30, 2022), earnings of $5.32 per share (excluding 55 cents from non-recurring items) missed the Zacks Consensus Estimate of $5.43. Revenues of $4,046.3 million beat the Zacks Consensus Estimate of $4,023.8. Revenues surged 92.3% year over year driven by upbeat passenger volumes.
On the back of a buoyant traffic scenario, RYAAY’s profit after tax was €1371 million in first-half fiscal 2023 against a net loss of €48 million incurred a year ago. In the same time period, operating costs surged 126% to €4.98 billion, due to a 205% increase in fuel expenses to €1 billion.
Average fares in the first half of fiscal 2023 were up 7% from the corresponding pre-COVID level. The same was up 14% in second-quarter fiscal 2023. Net debt at RYAAY declined to €0.5 billion at the end of the fiscal second quarter from €1.45 billion at the end of the fourth quarter of fiscal 2022.
In first-half fiscal 2023, RYAAY’s revenues surged 207% year over year to €2.15 billion on the back of buoyant traffic. Scheduled revenues in the same period increased 250% to €4.42 billion.
The number of passengers who flew on RYAAY planes were 95.1 million in the first half, up 143% from the same period’s level in the last fiscal year. The traffic was 11% more than the pre-COVID levels. Load factor in first-half fiscal 2023 was 94% compared with 39% in the previous fiscal year’s comparable period.
Ryanair upped its traffic view for fiscal 2023 to 168 million from 165 million. The new guidance indicates a 13% growth from the pre-COVID traffic numbers. Management expects profit after tax in fiscal 2023 in a range of €1 billion to €1.20 billion. The guidance is dependent on RYAAY not experiencing any adverse events this winter. In fact, management has warned that recovery for the remainder of fiscal 2023 may be impacted by new Covid variants or adverse geopolitical events.
RYAAY was also in the news recently, when it reported upbeat traffic results for October. The story was reported in detail in the last week’s write-up.
2. In October, Gol Linhas’ consolidated load factor (% of seats filled by passengers) declined 2.9 percentage points to 81.4% with traffic growth (40.9%) lagging the capacity expansion of 46% year over year. The upbeat traffic in its domestic markets is leading to a rosy scenario on a consolidated basis. In October, domestic traffic and capacity improved 30.2% and 26%, respectively. On the domestic front, 26% more passengers boarded GOL’s flights in October 2022. Domestic load factor was 81.6%. The volume of departures and seats on the domestic front increased 30.9% and 31.1%, respectively. The stock currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
.3. To expand its network, Frontier Airlines reportedly announced new routes serving Phoenix and Dallas-Fort Worth. Last Friday, Frontier launched its base at Phoenix. Following the launch, the carrier is operating daily flights connecting Phoenix with Philadelphia, Fort Lauderdale, Detroit and Orange County, California. Frontier will operate flights to Cincinnati four times a week.ULCC also aims to expand its presence in Dallas-Fort Worth this spring.
4. With Nicole strengthening from a tropical storm to a hurricane, American Airlines has decided to waive change fees for flights connected to 20 airports in Florida, Georgia, the Bahamas and Providenciales in the Turks and Caicos Islands. Due to hurricane Nicole, multiple flights connecting the Charlotte Douglas international airport and the airports mainly in Florida and Georgia were cancelled. This is causing untold harassment to passengers and deals a blow to airlines, already suffering labor woes.
Performance
Even though most airline stocks have traded in the red over the five trading days, the losses were muted in nature. As a result, the NYSE ARCA Airline Index has increased, albeit marginally, to $58.79 over the past five trading days. Over the past six months, the NYSE ARCA Airline Index has plummeted 20%.
What's Next in the Airline Space?
Investors will keenly await the third-quarter 2022 earnings report of the Latin American carrier Copa Holdings, scheduled to be out on Nov 16.
We expect CPA’s performance to have been aided by the improving air-travel demand in Latin America. However, high fuel costs are likely to have impeded the bottom-line performance in the to-be-reported quarter.
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Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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Ryanair Holdings PLC (RYAAY): Free Stock Analysis Report
Gol Linhas Aereas Inteligentes S.A. (GOL): Free Stock Analysis Report
Copa Holdings, S.A. (CPA): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
Frontier Group Holdings, Inc. (ULCC): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Stocks recently featured in the blog include: Ryanair Holdings RYAAY, Gol Linhas GOL, Frontier Group ULCC, American Airlines AAL and Copa Holdings CPA. American Airlines Group Inc. (AAL): Free Stock Analysis Report Recap of the Latest Top Stories 1, Ryanair’s second-quarter fiscal 2023 (ended Sep 30, 2022), earnings of $5.32 per share (excluding 55 cents from non-recurring items) missed the Zacks Consensus Estimate of $5.43.
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Stocks recently featured in the blog include: Ryanair Holdings RYAAY, Gol Linhas GOL, Frontier Group ULCC, American Airlines AAL and Copa Holdings CPA. American Airlines Group Inc. (AAL): Free Stock Analysis Report Here are highlights from Thursday’s Analyst Blog: Airline Stock Roundup: Earnings, Traffic and More In the past week, Ryanair Holdings reported lower-than-expected earnings per share for second-quarter fiscal 2023 due to high costs.
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Stocks recently featured in the blog include: Ryanair Holdings RYAAY, Gol Linhas GOL, Frontier Group ULCC, American Airlines AAL and Copa Holdings CPA. American Airlines Group Inc. (AAL): Free Stock Analysis Report Here are highlights from Thursday’s Analyst Blog: Airline Stock Roundup: Earnings, Traffic and More In the past week, Ryanair Holdings reported lower-than-expected earnings per share for second-quarter fiscal 2023 due to high costs.
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American Airlines Group Inc. (AAL): Free Stock Analysis Report Stocks recently featured in the blog include: Ryanair Holdings RYAAY, Gol Linhas GOL, Frontier Group ULCC, American Airlines AAL and Copa Holdings CPA. Here are highlights from Thursday’s Analyst Blog: Airline Stock Roundup: Earnings, Traffic and More In the past week, Ryanair Holdings reported lower-than-expected earnings per share for second-quarter fiscal 2023 due to high costs.
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2022-11-10 00:00:00 UTC
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Airline Stock Roundup: RYAAY's Q2 Earnings Miss, GOL's October Traffic
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AAL
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https://www.nasdaq.com/articles/airline-stock-roundup%3A-ryaays-q2-earnings-miss-gols-october-traffic
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In the past week, Ryanair Holdings RYAAY reported lower-than-expected earnings per sharefor second-quarter fiscal 2023 due to high costs. Gol Linhas GOL posted a 40.9% year-over-year increase in consolidated traffic, reflecting the uptick in air-travel demand. Hurricane Nicole was the latest weather-related disruption to hurt airline operations. An expansion-related update was also available at Frontier Airlines, the wholly-owned subsidiary of Frontier Group ULCC, in the past week.
Recap of the Latest Top Stories
1, Ryanair’s second-quarter fiscal 2023 (ended Sep 30, 2022), earnings of $5.32 per share (excluding 55 cents from non-recurring items) missed the Zacks Consensus Estimate of $5.43. Revenues of $4,046.3 million beat the Zacks Consensus Estimate of $4,023.8. Revenues surged 92.3% year over year driven by upbeat passenger volumes.
On the back of a buoyant traffic scenario, RYAAY’s profit after tax was €1371 million in first-half fiscal 2023 against a net loss of €48 million incurred a year ago. In the same time period, operating costs surged 126% to €4.98 billion, due to a 205% increase in fuel expenses to €1 billion.
Average fares in the first half of fiscal 2023 were up 7% from the corresponding pre-COVID level. The same was up 14% in second-quarter fiscal 2023. Net debt at RYAAY declined to €0.5 billion at the end of the fiscal second quarter from €1.45 billion at the end of the fourth quarter of fiscal 2022.
In first-half fiscal 2023, RYAAY’s revenues surged 207% year over year to €2.15 billion on the back of buoyant traffic. Scheduled revenues in the same period increased 250% to €4.42 billion.
The number of passengers who flew on RYAAY planes were 95.1 million in the first half, up 143% from the same period’s level in the last fiscal year. The traffic was 11% more than the pre-COVID levels. Load factor in first-half fiscal 2023 was 94% compared with 39% in the previous fiscal year’s comparable period.
Ryanair upped its traffic view for fiscal 2023 to 168 million from 165 million. The new guidance indicates a 13% growth from the pre-COVID traffic numbers. Management expects profit after tax in fiscal 2023 in a range of €1 billion to €1.20 billion. The guidance is dependent on RYAAY not experiencing any adverse events this winter. In fact, management has warned that recovery for the remainder of fiscal 2023 may impacted by new Covid variants or adverse geopolitical events.
RYAAY was also in the news recently, when it reported upbeat traffic results for October. The story was reported in detail in the last week’s write-up.
2. In October, Gol Linhas’ consolidated load factor (% of seats filled by passengers) declined 2.9 percentage points to 81.4% with traffic growth (40.9%) lagging the capacity expansion of 46% year over year. The upbeat traffic in its domestic markets is leading to a rosy scenario on a consolidated basis. In October, domestic traffic and capacity improved 30.2% and 26%, respectively. On the domestic front, 26% more passengers boarded GOL’s flights in October 2022. Domestic load factor was 81.6%. The volume of departures and seats on the domestic front increased 30.9% and 31.1%, respectively. The stock currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
.3. To expand its network, Frontier Airlines reportedly announced new routes serving Phoenix and Dallas-Fort Worth. Last Friday, Frontier launched its base at Phoenix. Following the launch, the carrier is operating daily flights connecting Phoenix with Philadelphia, Fort Lauderdale, Detroit and Orange County, California. Frontier will operate flights to Cincinnati four times a week.ULCC also aims to expand its presence in Dallas-Fort Worth this spring.
4. With Nicole strengthening from a tropical storm to a hurricane, American Airlines AAL has decided to waive change fees for flights connected to 20 airports in Florida, Georgia, the Bahamas and Providenciales in the Turks and Caicos Islands. Due to hurricane Nicole, multiple flights connecting the Charlotte Douglas international airport and the airports mainly in Florida and Georgia were cancelled. This is causing untold harassment to passengers and deals a blow to airlines, already suffering labor woes.
Performance
The following table shows the price movement of the major airline players over the past week and during the last six months.
Image Source: Zacks Investment Research
The table above shows that even though most airline stocks have traded in the red over the five trading days, the losses were muted in nature. As a result, the NYSE ARCA Airline Index has increased, albeit marginally, to $58.79 over the past five trading days. Over the past six months, the NYSE ARCA Airline Index has plummeted 20%.
What's Next in the Airline Space?
Investors will keenly await the third-quarter 2022 earnings report of the Latin American carrier Copa Holdings CPA, scheduled to be out on Nov 16.
We expect CPA’s performance to have been aided by the improving air-travel demand in Latin America. However, high fuel costs are likely to have impeded the bottom-line performance in the to-be-reported quarter.
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Ryanair Holdings PLC (RYAAY): Free Stock Analysis Report
Gol Linhas Aereas Inteligentes S.A. (GOL): Free Stock Analysis Report
Copa Holdings, S.A. (CPA): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
Frontier Group Holdings, Inc. (ULCC): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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With Nicole strengthening from a tropical storm to a hurricane, American Airlines AAL has decided to waive change fees for flights connected to 20 airports in Florida, Georgia, the Bahamas and Providenciales in the Turks and Caicos Islands. American Airlines Group Inc. (AAL): Free Stock Analysis Report In the past week, Ryanair Holdings RYAAY reported lower-than-expected earnings per sharefor second-quarter fiscal 2023 due to high costs.
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American Airlines Group Inc. (AAL): Free Stock Analysis Report With Nicole strengthening from a tropical storm to a hurricane, American Airlines AAL has decided to waive change fees for flights connected to 20 airports in Florida, Georgia, the Bahamas and Providenciales in the Turks and Caicos Islands. In the past week, Ryanair Holdings RYAAY reported lower-than-expected earnings per sharefor second-quarter fiscal 2023 due to high costs.
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With Nicole strengthening from a tropical storm to a hurricane, American Airlines AAL has decided to waive change fees for flights connected to 20 airports in Florida, Georgia, the Bahamas and Providenciales in the Turks and Caicos Islands. American Airlines Group Inc. (AAL): Free Stock Analysis Report In the past week, Ryanair Holdings RYAAY reported lower-than-expected earnings per sharefor second-quarter fiscal 2023 due to high costs.
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American Airlines Group Inc. (AAL): Free Stock Analysis Report With Nicole strengthening from a tropical storm to a hurricane, American Airlines AAL has decided to waive change fees for flights connected to 20 airports in Florida, Georgia, the Bahamas and Providenciales in the Turks and Caicos Islands. In the past week, Ryanair Holdings RYAAY reported lower-than-expected earnings per sharefor second-quarter fiscal 2023 due to high costs.
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U.S. airlines cancel 1,220 flights as tropical storm Nicole makes landfall in Florida
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AAL
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https://www.nasdaq.com/articles/u.s.-airlines-cancel-1220-flights-as-tropical-storm-nicole-makes-landfall-in-florida
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Adds dropped 'than' in paragraph 2
Nov 10 (Reuters) - Airlines in the United States canceled 1,220 flights on early Thursday as tropical storm Nicole made landfall in the east coast of Florida, disrupting flight schedules and forcing airports in the region to shut.
Delta Air Lines DAL.N, American Airlines Group AAL.O and Southwest Airlines LUV.N canceled more than 100 flights each, while United Airlines UAL.O called off 73 trips, according to flight-tracking website Flightaware.com.
Nearly 990 flights were canceled on Wednesday. The Federal Aviation Administration had earlier this week warned travelers that it expected the tropical storm to strengthen and impact travel in Florida and along the southeast coast.
The flight cancellations are likely to add to the woes of airlines struggling to ramp up operation and take advantage of a rebound in travel amid staff shortage and strikes over the past year.
Airports within the affected region including Orlando International, Daytona Beach International and Palm Beach International ceased operations, while Jacksonville International Airport remained open.
(Reporting by Nathan Gomes in Bengaluru; Editing by Arun Koyyur)
((Nathan.Gomes@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Delta Air Lines DAL.N, American Airlines Group AAL.O and Southwest Airlines LUV.N canceled more than 100 flights each, while United Airlines UAL.O called off 73 trips, according to flight-tracking website Flightaware.com. Adds dropped 'than' in paragraph 2 Nov 10 (Reuters) - Airlines in the United States canceled 1,220 flights on early Thursday as tropical storm Nicole made landfall in the east coast of Florida, disrupting flight schedules and forcing airports in the region to shut. The flight cancellations are likely to add to the woes of airlines struggling to ramp up operation and take advantage of a rebound in travel amid staff shortage and strikes over the past year.
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Delta Air Lines DAL.N, American Airlines Group AAL.O and Southwest Airlines LUV.N canceled more than 100 flights each, while United Airlines UAL.O called off 73 trips, according to flight-tracking website Flightaware.com. Adds dropped 'than' in paragraph 2 Nov 10 (Reuters) - Airlines in the United States canceled 1,220 flights on early Thursday as tropical storm Nicole made landfall in the east coast of Florida, disrupting flight schedules and forcing airports in the region to shut. Airports within the affected region including Orlando International, Daytona Beach International and Palm Beach International ceased operations, while Jacksonville International Airport remained open.
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Delta Air Lines DAL.N, American Airlines Group AAL.O and Southwest Airlines LUV.N canceled more than 100 flights each, while United Airlines UAL.O called off 73 trips, according to flight-tracking website Flightaware.com. Adds dropped 'than' in paragraph 2 Nov 10 (Reuters) - Airlines in the United States canceled 1,220 flights on early Thursday as tropical storm Nicole made landfall in the east coast of Florida, disrupting flight schedules and forcing airports in the region to shut. Airports within the affected region including Orlando International, Daytona Beach International and Palm Beach International ceased operations, while Jacksonville International Airport remained open.
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Delta Air Lines DAL.N, American Airlines Group AAL.O and Southwest Airlines LUV.N canceled more than 100 flights each, while United Airlines UAL.O called off 73 trips, according to flight-tracking website Flightaware.com. Adds dropped 'than' in paragraph 2 Nov 10 (Reuters) - Airlines in the United States canceled 1,220 flights on early Thursday as tropical storm Nicole made landfall in the east coast of Florida, disrupting flight schedules and forcing airports in the region to shut. Nearly 990 flights were canceled on Wednesday.
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2022-11-10 00:00:00 UTC
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Why Airline Stocks Are Soaring Today
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AAL
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https://www.nasdaq.com/articles/why-airline-stocks-are-soaring-today-4
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What happened
Stocks rocketed higher on Thursday following a government report that showed inflation eased last month, leading investors to hope the Federal Reserve might be able to slow rate hikes sooner rather than later. Airlines, a sector that historically has suffered during an economic slowdown, outperformed the broader averages.
Shares of JetBlue Airways (NASDAQ: JBLU) traded up as much as 9%, while shares of American Airlines Group (NASDAQ: AAL), Delta Air Lines (NYSE: DAL), United Airlines Holdings (NASDAQ: UAL), Southwest Airlines (NYSE: LUV) and Alaska Air Group (NYSE: ALK) were all up 4% or more as well.
So what
Airlines historically have been cyclical businesses, performing well when times are good, and poorly when the economy goes south. It's hard to afford plane tickets when consumers are struggling to pay the bills and businesses are seeing sales decline.
The industry has held up surprisingly well this year as the Federal Reserve has used higher rates to try to slow the economy. But the fear of more aggressive Fed moves, and the potential for a recession if it goes too far, weigh heavily on the minds of airline investors. With that in mind, the October Consumer Price Index (CPI) data, released before markets opened on Thursday, was welcome news for the industry.
The CPI for October showed prices up 7.7% year over year and up 0.4% from September, short of economist expectations for jumps of 7.9% and 0.5%, respectively. The data suggest that while inflationary pressures remain, there is at least some sign of cooling increases.
That matters because investors are focused on what further Fed aggressiveness might do to slow the economy. So any indication that the Fed might not have to be as aggressive in the future is a relief.
JetBlue shares are particularly strong because arguably that airline, more than any other, needs a robust demand environment heading into 2023. The carrier is trying to acquire Spirit Airlines in a deal that is predicated on growth and strong demand up ahead, and it could be dangerous to try to acquire and integrate the discount airline in the middle of a recession.
Now what
This is just one data point in a long series of economic data, and the overall market reaction appears to overstate the relevance. Even if inflation is cooling slightly, the Fed would appear to have significant work to do from here, and the nation's top bankers have insisted they will not reverse course at the first sign of slowing.
For airline investors, there should be some solace in how well the companies performed in the third quarter and what carriers said about demand heading into the key holiday season. For all of the talk of higher rates and clear slowdowns in areas like housing, employment remains strong and consumers still have money to spend. Coming off the pandemic, there is clear pent-up demand for travel that so far has outweighed whatever economic risks are on the horizon.
That could all change quickly, and investors need to remain on guard. Even in the best-case scenario, the industry is going to need time to fully recover from the pandemic, and some amount of patience will be needed. But the economic signs, both macro and company-specific, are trending in the right direction, and investors are rallying into the shares as a result.
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Lou Whiteman has positions in Delta Air Lines. The Motley Fool recommends Alaska Air Group, Delta Air Lines, JetBlue Airways, and Southwest Airlines. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of JetBlue Airways (NASDAQ: JBLU) traded up as much as 9%, while shares of American Airlines Group (NASDAQ: AAL), Delta Air Lines (NYSE: DAL), United Airlines Holdings (NASDAQ: UAL), Southwest Airlines (NYSE: LUV) and Alaska Air Group (NYSE: ALK) were all up 4% or more as well. What happened Stocks rocketed higher on Thursday following a government report that showed inflation eased last month, leading investors to hope the Federal Reserve might be able to slow rate hikes sooner rather than later. Even if inflation is cooling slightly, the Fed would appear to have significant work to do from here, and the nation's top bankers have insisted they will not reverse course at the first sign of slowing.
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Shares of JetBlue Airways (NASDAQ: JBLU) traded up as much as 9%, while shares of American Airlines Group (NASDAQ: AAL), Delta Air Lines (NYSE: DAL), United Airlines Holdings (NASDAQ: UAL), Southwest Airlines (NYSE: LUV) and Alaska Air Group (NYSE: ALK) were all up 4% or more as well. With that in mind, the October Consumer Price Index (CPI) data, released before markets opened on Thursday, was welcome news for the industry. The Motley Fool recommends Alaska Air Group, Delta Air Lines, JetBlue Airways, and Southwest Airlines.
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Shares of JetBlue Airways (NASDAQ: JBLU) traded up as much as 9%, while shares of American Airlines Group (NASDAQ: AAL), Delta Air Lines (NYSE: DAL), United Airlines Holdings (NASDAQ: UAL), Southwest Airlines (NYSE: LUV) and Alaska Air Group (NYSE: ALK) were all up 4% or more as well. What happened Stocks rocketed higher on Thursday following a government report that showed inflation eased last month, leading investors to hope the Federal Reserve might be able to slow rate hikes sooner rather than later. The Motley Fool recommends Alaska Air Group, Delta Air Lines, JetBlue Airways, and Southwest Airlines.
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Shares of JetBlue Airways (NASDAQ: JBLU) traded up as much as 9%, while shares of American Airlines Group (NASDAQ: AAL), Delta Air Lines (NYSE: DAL), United Airlines Holdings (NASDAQ: UAL), Southwest Airlines (NYSE: LUV) and Alaska Air Group (NYSE: ALK) were all up 4% or more as well. The industry has held up surprisingly well this year as the Federal Reserve has used higher rates to try to slow the economy. The data suggest that while inflationary pressures remain, there is at least some sign of cooling increases.
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7 Cheap Stocks to Buy Now if You Have $100 to Spend
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AAL
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https://www.nasdaq.com/articles/7-cheap-stocks-to-buy-now-if-you-have-%24100-to-spend-0
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
As the market continues to drop, there are still plenty of cheap stocks for investors to load up on. These low-priced shares are trading at record lows, and you could pick a bunch of them for just a $100 bill. Investors are always on the lookout for a good deal, and with so many cheap stocks available in the current bear market, it’s an ideal time to build a robust long-term portfolio. With stocks at multi-year lows, you can find a fair number of cheap stocks to buy for $100.
Multiple stocks have shed a ton of value due to their weakening fundamentals and future outlooks. On the flip side, we have a fair few stocks that have been swept away by the bear market despite boasting incredible fundamentals. Doing your due diligence on which cheap stocks are best seems daunting, but don’t worry; we have you covered! Without further ado, let’s look at seven of the top cheap stocks to buy for $100.
Cheap Stocks to Buy for $100: AvePoint (AVPT)
Source: rafapress / Shutterstock.com
AvePoint (NASDAQ:AVPT) is a software-as-a-service business offering various services such as data management, protection, and migration in Microsoft Office 365. It went public last year following a merger with shell Apex Technology Acquisition. Like other SPAC companies, its stock has been pummeled at the market this year, and it trades at just three times forward sales.
AvePoint facilitates the ease of use and user experience of Microsoft’s (NASDAQ:MSFT) products. Though Microsoft could produce these services in-house, it’s been more profitable for the business to outsource these services to firms such as AvePoint. This is evidenced in stellar late results for AvePoint, where it’s generated double-digit revenue growth with over a 100% net retention rate. Microsoft sees AvePoint as a firm that has helped expand its overall addressable market, which bodes well for AVPT stock over the long term.
Nokia (NOK)
Source: rafapress / Shutterstock.com
Nokia (NYSE:NOK) has come a long way from a struggling smartphone marker to a leading telecommunications player. It continues to execute its turnaround plans effectively, reporting stellar top-line expansion across its core business segments. Its network infrastructure and cloud segments have demonstrated spectacular growth in the past several quarters and continue to push Nokia ahead in the 5G race.
It recently reported its third-quarter results, where its sales increased by 16% from the prior-year period and a comparable earnings growth of 19%. Moreover, it’s making a habit of beating analyst estimates, with the third quarter being the eighth consecutive time it’s beaten analyst estimates. Moreover, the firm has done remarkably well in diversifying its customer base and growing its enterprise sales. Revenues from the enterprise segment have soared roughly 50% since 2018. Overall, NOK stock is considerably cheap relative to its immense growth potential and is poised for long-term success.
Cheap Stocks to Buy for $100: Ambev (ABEV)
Source: Anton Garin / Shutterstock.com
Ambev (NYSE:ABEV) is the South American arm of the world’s top brewing giant Anheuser-Busch InBev SA (NYSE:BUD). It’s been sluggish in bouncing back from the pandemic-led headwinds; however, recent results point to a resurgence. The beer market in Brazil has been resilient and has helped Ambev post strong results of late. Moreover, with the FIFA World Cup coming up, its brands will likely witness strong momentum.
It is imperative, though, for Ambev to improve its sales volume to take pressure off prices. As we advance, its core markets will remain robust, resulting in incredible sales for the foreseeable future. Its cash flows need to protect its dividend, though, but it is unlikely to be cut given its incredible liquidity positioning.
American Airlines (AAL)
Source: GagliardiPhotography / Shutterstock.com
American Airlines (NASDAQ:AAL) is among the top legacy carriers in the U.S. that were on the brink of bankruptcy during the height of the pandemic. However, the tables have turned completely, with AAL benefitting from the massive pent-up demand for travel in the post-pandemic world. Its recent quarterly results have been tremendous and point to more upside ahead for the business.
AAL recently reported its third-quarter results, where its revenues soared over 50%. Moreover, its occupancy levels nearly matched pre-pandemic levels, showing that the pandemic no longer impacts travel plans. Additionally, the company is executing its plans to pay down $15 billion of its debt by the conclusion of 2025. AAL is excellently growing sales, limiting costs, and executing well in the Latin American region. All the while, its stock still trades at just 0.2 times forward sales.
Cheap Stocks to Buy for $100: SoFi Technologies (SOFI)
Source: shutterstock.com/Michael Vi
SoFi Technologies (NASDAQ:SOFI) operates as a personal finance business that has made amazing strides in expanding its burgeoning ecosystem. It has seen incredible momentum in its customer and lending segment, and the resumption of student loans will be a major catalyst for EBITDA expansion. Despite a phenomenal outlook, its shares have taken a major haircut and now boast a significantly better risk/reward trade-off.
Its third-quarter results show a 50% bump in its top line, and the rock-solid growth was due to product innovation and the increase in its products and services. It wrapped up the third quarter with 4.7 million customer accounts, a 424,000 increase on a sequential basis. Based on its results, it should speed past five million accounts by the end of the year, leading to meaningful improvement in its stock price.
Nio (NIO)
Source: Andy Feng / Shutterstock.com
Nio (NYSE:NIO) has been the most popular Chinese electric vehicle (EV) stock, soaring to record heights over the past few years. It has grown its deliveries by triple-digit margins in a short amount of time and has now become an EV juggernaut. Macroeconomic troubles and its Covid-19-led disruptions have weighed down its business this year, resulting in its stock plummeting over 70%.
It would appear that Nio was past its supply-chain woes delivering record deliveries in the past couple of months. However, another production disruption has likely ended investors’ hopes of seeing a record fourth quarter. Nevertheless, I feel investors focus too much on the short-term and ignore its incredible long-term potential in the sphere. There’s plenty to look forward to with Nio, including new models and its foray into Europe to ignore the stock at current price levels.
Cheap Stocks to Buy for $100: The Original Bark Company (BARK)
Source: IgorGolovniov / Shutterstock.com
The Original Bark Company (NYSE:BARK) sells its popular branded product line to dog owners. The budding pet business generates the bulk of its sales through direct-to-consumer subscription boxes, a model that has proven to be profitable and consistent. It’s moving towards profitability briskly, with its management cutting operational expenses by healthy margins each quarter.
BARK’s subscription business is generating incredible fundamentals, and its management reports that customer acquisition costs haven’t increased much in recent quarters. Moreover, it operates in a typically stable sector through recessions, which suggests it won’t have much of a problem navigating the current economic climate. Moreover, cross-selling opportunities through new and existing products will further expand its revenue base and improve profitability.
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed
On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University.
The post 7 Cheap Stocks to Buy Now if You Have $100 to Spend appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines (AAL) Source: GagliardiPhotography / Shutterstock.com American Airlines (NASDAQ:AAL) is among the top legacy carriers in the U.S. that were on the brink of bankruptcy during the height of the pandemic. However, the tables have turned completely, with AAL benefitting from the massive pent-up demand for travel in the post-pandemic world. AAL recently reported its third-quarter results, where its revenues soared over 50%.
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American Airlines (AAL) Source: GagliardiPhotography / Shutterstock.com American Airlines (NASDAQ:AAL) is among the top legacy carriers in the U.S. that were on the brink of bankruptcy during the height of the pandemic. However, the tables have turned completely, with AAL benefitting from the massive pent-up demand for travel in the post-pandemic world. AAL recently reported its third-quarter results, where its revenues soared over 50%.
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American Airlines (AAL) Source: GagliardiPhotography / Shutterstock.com American Airlines (NASDAQ:AAL) is among the top legacy carriers in the U.S. that were on the brink of bankruptcy during the height of the pandemic. However, the tables have turned completely, with AAL benefitting from the massive pent-up demand for travel in the post-pandemic world. AAL recently reported its third-quarter results, where its revenues soared over 50%.
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AAL recently reported its third-quarter results, where its revenues soared over 50%. American Airlines (AAL) Source: GagliardiPhotography / Shutterstock.com American Airlines (NASDAQ:AAL) is among the top legacy carriers in the U.S. that were on the brink of bankruptcy during the height of the pandemic. However, the tables have turned completely, with AAL benefitting from the massive pent-up demand for travel in the post-pandemic world.
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Zacks.com featured highlights American Airlines, Delta Air Lines, CVR Energy, Covenant Logistics Group and Cross Country Healthcare
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AAL
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https://www.nasdaq.com/articles/zacks.com-featured-highlights-american-airlines-delta-air-lines-cvr-energy-covenant
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For Immediate Release
Chicago, IL – November 9, 2022 – Stocks in this week’s article are American Airlines AAL, Delta Air Lines DAL, CVR Energy CVI, Covenant Logistics Group CVLG and Cross Country Healthcare CCRN.
5 Broker-Favorite Stocks to Bank On as Market Unrest Continues
The US markets are hounded by volatility in the current year. The September reading on inflation was anything but encouraging. On a year-over-year basis, the headline Consumer Price Index (CPI) increased 8.2% compared with 8.3% in August. Again, year over year, the core CPI (excluding volatile food and energy items) increased 6.6% in September compared with the August reading of 6.5%.
To check the sky-high inflation, the Fed adopted a hawkish stance, having raised the benchmark lending rate 3% year to date. Fed chair Jerome Powell indicated categorically that the central bank will continue hiking interest rates as long as inflation remains elevated. Higher interest rates shoot up the cost of borrowing, escalating the chances of an economic slowdown. Underlining the sorry state of affairs, the S&P 500 Index posted the third straight quarter of losses for the first time since 2009.
Despite the current turmoil, evading equities is never advisable for investors. So what’s the way forward? One solution is to pay heed to broker advice while designing one’s portfolio in the current scenario of high-interest rates. Broker-friendly stocks like American Airlines, Delta Air Lines, CVR Energy, Covenant Logistics Group and Cross Country Healthcare are the only recourse for investors to net healthy returns amid this market bloodbath.
As brokers indulge in extensive research on stocks under their coverage, they have access to a much-detailed dope on a company. To this end, they attend company conference calls/presentations and scrutinize every piece of document available in the public domain before instructing investors.
Direction of Earnings Estimates: A Key Parameter
Since brokers follow the stocks under their coverage in great detail, they revise their earnings estimates after carefully examining the pros and cons of an event for the concerned company. The estimate revisions serve as an important yardstick regarding a stock price.
For example, a company’s earnings beat generally leads to upward estimate revisions with prices moving north. Similarly, lackluster earnings often cause stock price depreciation. Naturally, adhering to such well-researched information stands investors in good stead in their bid to glean attractive returns from their respective portfolios. Investors tend to be guided by the direction of estimate revisions and the stock price while formulating their investment strategy.
Making the Most of Broker Knowhow
The above write-up clearly suggests that by following broker actions, one can arrive at a promising basket of stocks. Keeping this in mind, we designed a screen to shortlist stocks based on improving analyst recommendations and upward earnings estimate revisions over the last four weeks.
Also, since the price/sales ratio is a strong complementary valuation metric in the presence of analyst information, it is considered in designing a winning portfolio of stocks. The price/sales ratio takes care of the company’s top line, making the strategy extremely effective.
Here are five of the 10 stocks that passed the screen test:
American Airlines is based in Fort Worth, TX. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. However, high fuel costs are hurting the bottom line.
Over the past 60 days, the stock has seen the Zacks Consensus Estimate for 2022 earnings being revised 69.6% upward. AAL currently carries a Zacks Rank #3 (Hold).
Delta, currently carrying a Zacks Rank of 3, is based in Atlanta, GA. DAL is being bolstered by the uptick in demand for air travel (particularly for leisure). High fuel costs are, however, a bane.
Delta’s earnings outshined the Zacks Consensus Estimate in two of the last four quarters (missing the mark in the remaining two quarters). The average beat is 7.9%.
CVR Energy is an independent refiner and marketer of high-value transportation fuels. CVI is also a producer of ammonia and urea ammonia nitrate fertilizers. CVI's petroleum business includes a full-coking sour crude refinery in Coffeyville, KS. Its efforts to reward its shareholders underline its strong financial position. The robust Nitrogen Fertilizer unit is supporting growth.
CVR Energy, currently carrying a Zacks Rank #3, has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 7.7% over the past 60 days.
Covenant Logistics offers a portfolio of transportation and logistics services, including asset-based expedited, dedicated and irregular route truckload capacity besides asset-light warehousing, transportation management and freight brokerage capability.
The gradually improving freight market scenario is a tailwind to Covenant. CVLG’s cost-control efforts are appreciative as well. CVLG currently flaunts a Zacks Rank of 1. The stock has witnessed the Zacks Consensus Estimate for 2022 earnings being revised 10.1% upward over the past 60 days.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Cross Country Healthcare is a national leader in providing innovative healthcare workforce solutions and staffing services. CCRN’s diverse client base includes both clinical and nonclinical settings, servicing acute care hospitals, physician practice groups, outpatient and ambulatory-care centers, nursing facilities, both public schools and charter schools, rehabilitation and sports medicine clinics, government facilities and homecare.
Cross Country Healthcare’s expected earnings growth rate for the current year is 64.1%. The Zacks Consensus Estimate for current-year earnings has improved 7.7% over the past 60 days. CCRN currently sports a Zacks Rank #1 (Strong Buy).
You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and backtest them first before taking the investment plunge.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
Click here to sign up for a free trial to the Research Wizard today.
For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/2015224/5-broker-favorite-stocks-to-bank-on-as-market-unrest-continues
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
About Screen of the Week
Zacks.com created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine. But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Delta Air Lines, Inc. (DAL): Free Stock Analysis Report
CVR Energy Inc. (CVI): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
Cross Country Healthcare, Inc. (CCRN): Free Stock Analysis Report
Covenant Logistics Group, Inc. (CVLG): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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For Immediate Release Chicago, IL – November 9, 2022 – Stocks in this week’s article are American Airlines AAL, Delta Air Lines DAL, CVR Energy CVI, Covenant Logistics Group CVLG and Cross Country Healthcare CCRN. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. AAL currently carries a Zacks Rank #3 (Hold).
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For Immediate Release Chicago, IL – November 9, 2022 – Stocks in this week’s article are American Airlines AAL, Delta Air Lines DAL, CVR Energy CVI, Covenant Logistics Group CVLG and Cross Country Healthcare CCRN. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. AAL currently carries a Zacks Rank #3 (Hold).
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For Immediate Release Chicago, IL – November 9, 2022 – Stocks in this week’s article are American Airlines AAL, Delta Air Lines DAL, CVR Energy CVI, Covenant Logistics Group CVLG and Cross Country Healthcare CCRN. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. AAL currently carries a Zacks Rank #3 (Hold).
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For Immediate Release Chicago, IL – November 9, 2022 – Stocks in this week’s article are American Airlines AAL, Delta Air Lines DAL, CVR Energy CVI, Covenant Logistics Group CVLG and Cross Country Healthcare CCRN. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. AAL currently carries a Zacks Rank #3 (Hold).
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2022-11-08 00:00:00 UTC
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5 Broker-Favorite Stocks to Bank on as Market Unrest Continues
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AAL
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https://www.nasdaq.com/articles/5-broker-favorite-stocks-to-bank-on-as-market-unrest-continues
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nan
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The US markets are hounded by volatility in the current year. The September reading on inflation was anything but encouraging. On a year-over-year basis, the headline Consumer Price Index (CPI) increased 8.2% compared with 8.3% in August. Again, year over year, the core CPI (excluding volatile food and energy items) increased 6.6% in September compared with the August reading of 6.5%.
To check the sky-high inflation, the Fed adopted a hawkish stance, having raised the benchmark lending rate 3% year to date. Fed chair Jerome Powell indicated categorically that the central bank will continue hiking interest rates as long as inflation remains elevated. Higher interest rates shoot up the cost of borrowing, escalating the chances of an economic slowdown. Underlining the sorry state of affairs, the S&P 500 Index posted the third straight quarter of losses for the first time since 2009.
Despite the current turmoil, evading equities is never advisable for investors. So what’s the way forward? One solution is to pay heed to broker advice while designing one’s portfolio in the current scenario of high-interest rates. Broker-friendly stocks like American Airlines AAL, Delta Air Lines DAL, CVR Energy CVI, Covenant Logistics Group CVLG and Cross Country Healthcare CCRN are the only recourse for investors to net healthy returns amid this market bloodbath.
As brokers indulge in extensive research on stocks under their coverage, they have access to a much-detailed dope on a company. To this end, they attend company conference calls/presentations and scrutinize every piece of document available in the public domain before instructing investors.
Direction of Earnings Estimates: A Key Parameter
Since brokers follow the stocks under their coverage in great detail, they revise their earnings estimates after carefully examining the pros and cons of an event for the concerned company. The estimate revisions serve as an important yardstick regarding a stock price.
For example, a company’s earnings beat generally leads to upward estimate revisions with prices moving north. Similarly, lackluster earnings often cause stock price depreciation. Naturally, adhering to such well-researched information stands investors in good stead in their bid to glean attractive returns from their respective portfolios. Investors tend to be guided by the direction of estimate revisions and the stock price while formulating their investment strategy.
Making the Most of Broker Knowhow
The above write-up clearly suggests that by following broker actions, one can arrive at a promising basket of stocks. Keeping this in mind, we designed a screen to shortlist stocks based on improving analyst recommendations and upward earnings estimate revisions over the last four weeks.
Also, since the price/sales ratio is a strong complementary valuation metric in the presence of analyst information, it is considered in designing a winning portfolio of stocks. The price/sales ratio takes care of the company’s top line, making the strategy extremely effective.
Screening Criteria
# (Up-Down Rating)/ Total (4 weeks) =Top #75: This gives the list of top 75 companies that have witnessed net upgrades over the last 4 weeks.
% change in Q (1) est. (4 weeks) = Top #10: This gives the top 10 stocks that have witnessed earnings estimate revisions over the past 4 weeks for the upcoming quarter.
Price-to-Sales = Bot%10: The lower the ratio, the better. Companies meeting this criterion are in the bottom 10% of our universe of over 7,700 stocks.
Price greater than 5: A stock trading below $5 will not likely be of significant interest to most investors.
Average Daily Volume greater than 100,000 shares over the last 20 trading days: Volume has to be significant to ensure that these are easily traded.
Market value ($ mil) = Top #3000: This gives us stocks that are the top 3000 in terms of market capitalization.
Com/ADR/Canadian= Com: This takes out the ADR and Canadian stocks.
Here are five of the 10 stocks that passed the screen test:
American Airlines is based in Fort Worth, TX. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. However, high fuel costs are hurting the bottom line.
Over the past 60 days, the stock has seen the Zacks Consensus Estimate for 2022 earnings being revised 69.6% upward. AAL currently carries a Zacks Rank #3 (Hold).
Delta, currently carrying a Zacks Rank of 3, is based in Atlanta, GA. DAL is being bolstered by the uptick in demand for air travel (particularly for leisure). High fuel costs are, however, a bane.
Delta’s earnings outshined the Zacks Consensus Estimate in two of the last four quarters (missing the mark in the remaining two quarters). The average beat is 7.9%.
CVR Energy is an independent refiner and marketer of high-value transportation fuels. CVI is also a producer of ammonia and urea ammonia nitrate fertilizers. CVI's petroleum business includes a full-coking sour crude refinery in Coffeyville, KS. Its efforts to reward its shareholders underline its strong financial position. The robust Nitrogen Fertilizer unit is supporting growth.
CVR Energy, currently carrying a Zacks Rank #3, has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 7.7% over the past 60 days.
Covenant Logistics offers a portfolio of transportation and logistics services, including asset-based expedited, dedicated and irregular route truckload capacity besides asset-light warehousing, transportation management and freight brokerage capability.
The gradually improving freight market scenario is a tailwind to Covenant. CVLG’s cost-control efforts are appreciative as well. CVLG currently flaunts a Zacks Rank of 1. The stock has witnessed the Zacks Consensus Estimate for 2022 earnings being revised 10.1% upward over the past 60 days.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Cross Country Healthcareis a national leader in providing innovative healthcare workforce solutions and staffing services. CCRN’s diverse client base includes both clinical and nonclinical settings, servicing acute care hospitals, physician practice groups, outpatient and ambulatory-care centers, nursing facilities, both public schools and charter schools, rehabilitation and sports medicine clinics, government facilities and homecare.
Cross Country Healthcare’s expected earnings growth rate for the current year is 64.1%. The Zacks Consensus Estimate for current-year earnings has improved 7.7% over the past 60 days. CCRN currently sports a Zacks Rank #1 (Strong Buy).
You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and backtest them first before taking the investment plunge.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
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Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
Disclosure: Performance information for Zacks’ portfolios and strategies are available at: https://www.zacks.com/performance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Delta Air Lines, Inc. (DAL): Free Stock Analysis Report
CVR Energy Inc. (CVI): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
Cross Country Healthcare, Inc. (CCRN): Free Stock Analysis Report
Covenant Logistics Group, Inc. (CVLG): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Broker-friendly stocks like American Airlines AAL, Delta Air Lines DAL, CVR Energy CVI, Covenant Logistics Group CVLG and Cross Country Healthcare CCRN are the only recourse for investors to net healthy returns amid this market bloodbath. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. AAL currently carries a Zacks Rank #3 (Hold).
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Broker-friendly stocks like American Airlines AAL, Delta Air Lines DAL, CVR Energy CVI, Covenant Logistics Group CVLG and Cross Country Healthcare CCRN are the only recourse for investors to net healthy returns amid this market bloodbath. American Airlines Group Inc. (AAL): Free Stock Analysis Report The gradual increase in air-travel demand (particularly for leisure) is aiding AAL.
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Broker-friendly stocks like American Airlines AAL, Delta Air Lines DAL, CVR Energy CVI, Covenant Logistics Group CVLG and Cross Country Healthcare CCRN are the only recourse for investors to net healthy returns amid this market bloodbath. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. AAL currently carries a Zacks Rank #3 (Hold).
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Broker-friendly stocks like American Airlines AAL, Delta Air Lines DAL, CVR Energy CVI, Covenant Logistics Group CVLG and Cross Country Healthcare CCRN are the only recourse for investors to net healthy returns amid this market bloodbath. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. AAL currently carries a Zacks Rank #3 (Hold).
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3129.0
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2022-11-04 00:00:00 UTC
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Why Boeing and the Airlines Are Flying Higher Today
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AAL
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https://www.nasdaq.com/articles/why-boeing-and-the-airlines-are-flying-higher-today
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nan
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nan
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What happened
Stocks were solidly higher on Friday, thanks to new data that suggests the economy remains strong, as well as talk of a potential China post-COVID reopening. Both pieces of news are positives for the airlines and their major suppliers, and the sector is outperforming the market as a result.
Shares of Boeing (NYSE: BA) traded up as much as 3% on Friday, while shares of United Airlines Holdings (NASDAQ: UAL) and American Airlines Group (NASDAQ: AAL) were up as much as 5% apiece.
So what
After a difficult few years, the airlines are on the upswing, but questions remain about how long the good times can last. Demand for air travel has come soaring back post-pandemic, putting the airlines in a position to begin rebuilding their balance sheets and thinking ahead to new aircraft orders.
The fear now is that inflation, and the Federal Reserve's campaign to keep it under control, will take the steam out of the economy and eat into future demand for plane tickets. The airlines have historically been a cyclical group, meaning they typically do not do well in times of economic distress.
With that in mind, the latest economic data was understandably treated as good news by airline investors. The U.S. economy added 261,000 jobs in October, well ahead of expectations. And the September reading was revised upward. The results suggest that the Fed's efforts to date have not hindered the economy to the point where potential travelers are feeling distress.
There is also talk that China might ease COVID restrictions that have kept large portions of the country on lockdown for weeks at a time over the past year and a half. China is a huge market for large airlines like United and American, as well as an important potential market for Boeing airplanes. The global travel and aerospace businesses are unlikely to fully recover until China normalizes.
For Boeing, which has had a strong week already thanks to encouraging comments by management during the company's annual investor day, the positive economic and China trends are adding to investor confidence that deliveries will hold up and the company will be able to hit its ambitious free cash flow targets.
Now what
Given how difficult the last few years have been for both airline and Boeing investors, you can't blame them for celebrating these positive trends. But there are still a lot of potential headwinds on the horizon.
For one, the Fed is still working to tame inflation. In addition, just because employment is holding up now doesn't mean it will continue to hold up in the months to come. United CEO Scott Kirby is optimistic that post-COVID hybrid work schedules should allow for travel demand to hold up even at times that have historically been slow, and the airline has a good outlook heading into 2023. But it is hard to predict a recession, and even harder to know how a potential recession will impact individual sectors.
China, too, remains a wild card due to rising geopolitical tensions with the U.S., COVID, and the country's hesitance to recertify Boeing's 737 MAX.
For now, long-term investors can take solace in knowing that all evidence suggests that Boeing and the airlines are on the rebound. But given the many unknowns, those going along for the ride should keep their seat belts fastened.
10 stocks we like better than American Airlines Group
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They just revealed what they believe are the ten best stocks for investors to buy right now… and American Airlines Group wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of September 30, 2022
Lou Whiteman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Shares of Boeing (NYSE: BA) traded up as much as 3% on Friday, while shares of United Airlines Holdings (NASDAQ: UAL) and American Airlines Group (NASDAQ: AAL) were up as much as 5% apiece. What happened Stocks were solidly higher on Friday, thanks to new data that suggests the economy remains strong, as well as talk of a potential China post-COVID reopening. Demand for air travel has come soaring back post-pandemic, putting the airlines in a position to begin rebuilding their balance sheets and thinking ahead to new aircraft orders.
|
Shares of Boeing (NYSE: BA) traded up as much as 3% on Friday, while shares of United Airlines Holdings (NASDAQ: UAL) and American Airlines Group (NASDAQ: AAL) were up as much as 5% apiece. What happened Stocks were solidly higher on Friday, thanks to new data that suggests the economy remains strong, as well as talk of a potential China post-COVID reopening. For Boeing, which has had a strong week already thanks to encouraging comments by management during the company's annual investor day, the positive economic and China trends are adding to investor confidence that deliveries will hold up and the company will be able to hit its ambitious free cash flow targets.
|
Shares of Boeing (NYSE: BA) traded up as much as 3% on Friday, while shares of United Airlines Holdings (NASDAQ: UAL) and American Airlines Group (NASDAQ: AAL) were up as much as 5% apiece. For Boeing, which has had a strong week already thanks to encouraging comments by management during the company's annual investor day, the positive economic and China trends are adding to investor confidence that deliveries will hold up and the company will be able to hit its ambitious free cash flow targets. See the 10 stocks *Stock Advisor returns as of September 30, 2022 Lou Whiteman has no position in any of the stocks mentioned.
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Shares of Boeing (NYSE: BA) traded up as much as 3% on Friday, while shares of United Airlines Holdings (NASDAQ: UAL) and American Airlines Group (NASDAQ: AAL) were up as much as 5% apiece. Now what Given how difficult the last few years have been for both airline and Boeing investors, you can't blame them for celebrating these positive trends. * They just revealed what they believe are the ten best stocks for investors to buy right now… and American Airlines Group wasn't one of them!
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3130.0
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2022-11-04 00:00:00 UTC
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China stocks notch trillion-dollar gain on hopes of reopening, better U.S. ties
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AAL
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https://www.nasdaq.com/articles/china-stocks-notch-trillion-dollar-gain-on-hopes-of-reopening-better-u.s.-ties-0
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nan
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nan
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By Rae Wee and Ankur Banerjee
SINGAPORE, Nov 4 (Reuters) - Chinese markets soared and the yuan rose on Friday, with about a trillion dollars added to the value of Chinese stocks in week, as rumours and news reports fed hopes for twin relief in U.S.-China tension and China's tough COVID rules.
The Hang Seng .HSI surged 5.3% and notched its biggest weekly gain in 11 years. The Shanghai Composite .SSEC rose 2.4% for a 5.3% weekly gain, the largest in more than two years and China-sensitive assets around the world rose sharply.
Bloomberg News reported initial U.S. inspections of audit papers at U.S.-listed Chinese companies - a long-running point of regulatory tension and risk - finished ahead of time, raising hopes that the U.S. officials were satisfied.
"The optimism right now is basically a removal of certain types of uncertainties that have been lingering ... but the outlook is really mixed," said Peiqian Liu, China economist at NatWest Markets in Singapore.
Gains were broad, defying a downbeat mood in global markets weighed by the prospect of U.S. interest rates rising further than previously expected. Property and tech shares led the way.
Shares in online giants Alibaba 9988.HK and JD.com 9618.HK each rose more than 10% and the Hang Seng Tech index .HSTECH rose 7.5%. Property manager Country Garden Services 6098.HK rose 15% and an index of mainland developers .HSMPI rose 9%.
Hedge fund manager Lei Ming said the re-opening rumour is just the trigger for a rebound in an oversold market.
"Such an expectation has been there for some time," Lei said.
"The main reason for the market jump is that selling pressure had been exhausted after the market fell so much."
Gains in value, across Hong Kong, Shenzhen and Shanghai over the week are approximately $1 trillion. However the Hang Seng remains down 30% this year against a 24% fall in world stocks .MIWD00000PUS. The Shanghai Composite is down 15% this year.
The rally extended to commodities markets with iron ore futures surging on Friday, and China-sensitive stocks listed in London and Europe.
Miners such Rio Tinto RIO.L and Anglo American AAL.L rose sharply along with luxury retails like LVMH LVMH.PA and Swiss jeweller Richemont CFR.S.
BUY THE RUMOUR
Changes to COVID policies have not been officially flagged. A foreign ministry spokesman said on Tuesday he was not aware of the situation, when asked about rumours on social media that China was planning a reopening from strict COVID curbs in March.
Bloomberg News also reported on Friday, citing unnamed people familiar with the matter, that China was working towards relaxing rules that penalise airlines for carrying COVID-positive passengers.
A foreign ministry spokesman later said he was and that China's COVID policies were consistent and clear.
"I do not see anything new that has changed the Hong Kong and China investment environment," said Frank Benzimra, head of Asia equity strategy at Societe Generale in Hong Kong.
"The only explanation I have is that the sell-off has been excessive post-Congress, valuation on some offshore names has been very distressed, and there is some bottom-fishing."
The currency joined in the rally, jumping more than 0.5% to touch a one-week high of 7.2340 per dollar.CNY/
China, HK stocks market caphttps://tmsnrt.rs/3hffBNi
(Additional reporting by Summer Zhen in Hong Kong. Writing by Tom Westbrook. Editing by Sam Holmes)
((tom.westbrook@tr.com; +65 6973 8284;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Miners such Rio Tinto RIO.L and Anglo American AAL.L rose sharply along with luxury retails like LVMH LVMH.PA and Swiss jeweller Richemont CFR.S. Bloomberg News reported initial U.S. inspections of audit papers at U.S.-listed Chinese companies - a long-running point of regulatory tension and risk - finished ahead of time, raising hopes that the U.S. officials were satisfied. Bloomberg News also reported on Friday, citing unnamed people familiar with the matter, that China was working towards relaxing rules that penalise airlines for carrying COVID-positive passengers.
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Miners such Rio Tinto RIO.L and Anglo American AAL.L rose sharply along with luxury retails like LVMH LVMH.PA and Swiss jeweller Richemont CFR.S. By Rae Wee and Ankur Banerjee SINGAPORE, Nov 4 (Reuters) - Chinese markets soared and the yuan rose on Friday, with about a trillion dollars added to the value of Chinese stocks in week, as rumours and news reports fed hopes for twin relief in U.S.-China tension and China's tough COVID rules. The Shanghai Composite .SSEC rose 2.4% for a 5.3% weekly gain, the largest in more than two years and China-sensitive assets around the world rose sharply.
|
Miners such Rio Tinto RIO.L and Anglo American AAL.L rose sharply along with luxury retails like LVMH LVMH.PA and Swiss jeweller Richemont CFR.S. By Rae Wee and Ankur Banerjee SINGAPORE, Nov 4 (Reuters) - Chinese markets soared and the yuan rose on Friday, with about a trillion dollars added to the value of Chinese stocks in week, as rumours and news reports fed hopes for twin relief in U.S.-China tension and China's tough COVID rules. The Shanghai Composite .SSEC rose 2.4% for a 5.3% weekly gain, the largest in more than two years and China-sensitive assets around the world rose sharply.
|
Miners such Rio Tinto RIO.L and Anglo American AAL.L rose sharply along with luxury retails like LVMH LVMH.PA and Swiss jeweller Richemont CFR.S. The Shanghai Composite .SSEC rose 2.4% for a 5.3% weekly gain, the largest in more than two years and China-sensitive assets around the world rose sharply. "Such an expectation has been there for some time," Lei said.
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3131.0
|
2022-11-04 00:00:00 UTC
|
China stocks notch trillion-dollar gain on hopes of reopening, better U.S. ties
|
AAL
|
https://www.nasdaq.com/articles/china-stocks-notch-trillion-dollar-gain-on-hopes-of-reopening-better-u.s.-ties
|
nan
|
nan
|
By Rae Wee and Ankur Banerjee
SINGAPORE, Nov 4 (Reuters) - Chinese markets soared and the yuan rose on Friday, with about a trillion dollars added to the value of Chinese stocks in week, as rumours and news reports fed hopes for twin relief in U.S.-China tension and China's tough COVID rules.
The Hang Seng .HSI surged 5.3% and notched its biggest weekly gain in 11 years. The Shanghai Composite .SSEC rose 2.4% for a 5.3% weekly gain, the largest in more than two years and China-sensitive assets around the world rose sharply.
Bloomberg News reported initial U.S. inspections of audit papers at U.S.-listed Chinese companies - a long-running point of regulatory tension and risk - finished ahead of time, raising hopes that the U.S. officials were satisfied.
"The optimism right now is basically a removal of certain types of uncertainties that have been lingering ... but the outlook is really mixed," said Peiqian Liu, China economist at NatWest Markets in Singapore.
Gains were broad, defying a downbeat mood in global markets weighed by the prospect of U.S. interest rates rising further than previously expected. Property and tech shares led the way.
Shares in online giants Alibaba 9988.HK and JD.com 9618.HK each rose more than 10% and the Hang Seng Tech index .HSTECH rose 7.5%. Property manager Country Garden Services 6098.HK rose 15% and an index of mainland developers .HSMPI rose 9%.
Technical factors, following months and months of relentless selling also helped the rebound, said Kenny Ng, a strategist at China Everbright Securities in Hong Kong.
Gains in value, across Hong Kong, Shenzhen and Shanghai over the week are approximately $1 trillion. However the Hang Seng remains down 30% this year against a 24% fall in world stocks .MIWD00000PUS. The Shanghai Composite is down 15% this year.
The rally extended to commodities markets with iron ore futures surging on Friday, and China-sensitive stocks listed in London and Europe.
Miners such Rio Tinto RIO.L and Anglo American AAL.L rose sharply along with luxury retails like LVMH LVMH.PA and Swiss jeweller Richemont CFR.S.
BUY THE RUMOUR
Changes to COVID policies have not been officially flagged. A foreign ministry spokesman said on Tuesday he was not aware of the situation, when asked about rumours on social media that China was planning a reopening from strict COVID curbs in March.
Bloomberg News also reported on Friday, citing unnamed people familiar with the matter, that China was working towards relaxing rules that penalise airlines for carrying COVID-positive passengers.
A foreign ministry spokesman later said he was and that China's COVID policies were consistent and clear.
"I do not see anything new that has changed the Hong Kong and China investment environment," said Frank Benzimra, head of Asia equity strategy at Societe Generale in Hong Kong.
"The only explanation I have is that the sell-off has been excessive post-Congress, valuation on some offshore names has been very distressed, and there is some bottom-fishing."
The currency joined in the rally, jumping more than 0.5% to touch a one-week high of 7.2340 per dollar.CNY/
(Additional reporting by Summer Zhen in Hong Kong. Writing by Tom Westbrook. Editing by Sam Holmes)
((tom.westbrook@tr.com; +65 6973 8284;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Miners such Rio Tinto RIO.L and Anglo American AAL.L rose sharply along with luxury retails like LVMH LVMH.PA and Swiss jeweller Richemont CFR.S. Bloomberg News reported initial U.S. inspections of audit papers at U.S.-listed Chinese companies - a long-running point of regulatory tension and risk - finished ahead of time, raising hopes that the U.S. officials were satisfied. A foreign ministry spokesman said on Tuesday he was not aware of the situation, when asked about rumours on social media that China was planning a reopening from strict COVID curbs in March.
|
Miners such Rio Tinto RIO.L and Anglo American AAL.L rose sharply along with luxury retails like LVMH LVMH.PA and Swiss jeweller Richemont CFR.S. By Rae Wee and Ankur Banerjee SINGAPORE, Nov 4 (Reuters) - Chinese markets soared and the yuan rose on Friday, with about a trillion dollars added to the value of Chinese stocks in week, as rumours and news reports fed hopes for twin relief in U.S.-China tension and China's tough COVID rules. The Shanghai Composite .SSEC rose 2.4% for a 5.3% weekly gain, the largest in more than two years and China-sensitive assets around the world rose sharply.
|
Miners such Rio Tinto RIO.L and Anglo American AAL.L rose sharply along with luxury retails like LVMH LVMH.PA and Swiss jeweller Richemont CFR.S. By Rae Wee and Ankur Banerjee SINGAPORE, Nov 4 (Reuters) - Chinese markets soared and the yuan rose on Friday, with about a trillion dollars added to the value of Chinese stocks in week, as rumours and news reports fed hopes for twin relief in U.S.-China tension and China's tough COVID rules. The Shanghai Composite .SSEC rose 2.4% for a 5.3% weekly gain, the largest in more than two years and China-sensitive assets around the world rose sharply.
|
Miners such Rio Tinto RIO.L and Anglo American AAL.L rose sharply along with luxury retails like LVMH LVMH.PA and Swiss jeweller Richemont CFR.S. By Rae Wee and Ankur Banerjee SINGAPORE, Nov 4 (Reuters) - Chinese markets soared and the yuan rose on Friday, with about a trillion dollars added to the value of Chinese stocks in week, as rumours and news reports fed hopes for twin relief in U.S.-China tension and China's tough COVID rules. The Shanghai Composite .SSEC rose 2.4% for a 5.3% weekly gain, the largest in more than two years and China-sensitive assets around the world rose sharply.
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3132.0
|
2022-11-03 00:00:00 UTC
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EMERGING MARKETS-Latam FX slip on firmer dollar as investors digest hawkish Fed
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AAL
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https://www.nasdaq.com/articles/emerging-markets-latam-fx-slip-on-firmer-dollar-as-investors-digest-hawkish-fed
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nan
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nan
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By Susan Mathew and Ankika Biswas
Nov 3 (Reuters) - Most Latin American currencies slipped on Thursday as the U.S. dollar continued to rallyon the back of a hawkish Federal Reserve and safe haven demand.
Chile's peso CLP=, Peru's sol PEN= and Colombia's peso COP= dipped as much as between 0.6% and 2%, before paring some declines.
The rush to safer assets such as the dollar =USD was bolstered after the Bank of England raised rates by the most since 1989 and warned that Britain faced a long recession. FRX/
"The Fed, along with other major central banks, looks likely to keep tightening rates until the first quarter of 2023," said strategists at the chief investment office at UBS Global Wealth Management.
"Economic growth will likely continue to slow into the start of the new year; and global financial markets are vulnerable to stress while monetary policy continues to tighten," UBS said.
Meanwhile, Brazil's real BRBY, BRL= traded slightly higher on optimism of easing political instability with the official transition to Luiz Inacio Lula da Silva about to begin. The leftist President-elect will take office on Jan. 1.
Meanwhile, Brazil's central bank highlighted its growing concern about the effects of lower economic activity on credit risks in the country, but its chief pledged to work with President-elect Luiz Inacio Lula da Silva in the "best way possible."
MSCI Latin American stock index .MILA00000PUS rose 0.3%, with Brazil's benchmark Bovespa .BVSP boosted by shares of retailers such as Magazine Luiza, as well as B3 and Petrobras offering a relevant support.
Petrobras PETR4.SA shares gained 1% after the company approved a dividend payout of 3.3489 reais ($0.6545) per share.
In Chile, President Gabriel Boric on Wednesday announced his long-awaited plan to reform the country's controversial private pension system.
"The news is mostly in line with previous proposals. As such it should not be overly market moving, though Chile bonds will be weaker on the back of the U.S. moves," Citi Research strategists said.
Further on the data front, Chile's copper output slipped 4.27% in September, due to a fall in production from state-owned giant Codelco and Collahuasi, a joint venture of Anglo American AAL.L and Glencore GLEN.N.
Key Latin American stock indexes and currencies at 1911 GMT:
Stock indexes
Latest
Daily % change
MSCI Emerging Markets .MSCIEF
861.20
-1.35
MSCI LatAm .MILA00000PUS
2310.36
0.26
Brazil Bovespa .BVSP
117244.08
0.27
Mexico IPC .MXX
50333.28
-1.05
Chile IPSA.SPIPSA
5182.61
-0.23
Argentina MerVal .MERV
149897.38
0.394
Colombia COLCAP .COLCAP
1224.11
-1.69
Currencies
Latest
Daily % change
Brazil real BRBY
5.1137
0.07
Mexico peso MXN=D2
19.6464
0.02
Chile peso CLP=CL
944.2
-0.03
Colombia peso COP=
5057.94
-1.18
Peru sol PEN=PE
3.9648
-0.71
Argentina peso (interbank) ARS=RASL
157.9200
-0.20
Argentina peso (parallel) ARSB=
283
2.83
(Reporting by Susan Mathew in Bengaluru; Editing by Elaine Hardcastle and Diane Craft)
((susan.mathew@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Further on the data front, Chile's copper output slipped 4.27% in September, due to a fall in production from state-owned giant Codelco and Collahuasi, a joint venture of Anglo American AAL.L and Glencore GLEN.N. By Susan Mathew and Ankika Biswas Nov 3 (Reuters) - Most Latin American currencies slipped on Thursday as the U.S. dollar continued to rallyon the back of a hawkish Federal Reserve and safe haven demand. Meanwhile, Brazil's central bank highlighted its growing concern about the effects of lower economic activity on credit risks in the country, but its chief pledged to work with President-elect Luiz Inacio Lula da Silva in the "best way possible."
|
Further on the data front, Chile's copper output slipped 4.27% in September, due to a fall in production from state-owned giant Codelco and Collahuasi, a joint venture of Anglo American AAL.L and Glencore GLEN.N. Chile's peso CLP=, Peru's sol PEN= and Colombia's peso COP= dipped as much as between 0.6% and 2%, before paring some declines. Meanwhile, Brazil's central bank highlighted its growing concern about the effects of lower economic activity on credit risks in the country, but its chief pledged to work with President-elect Luiz Inacio Lula da Silva in the "best way possible."
|
Further on the data front, Chile's copper output slipped 4.27% in September, due to a fall in production from state-owned giant Codelco and Collahuasi, a joint venture of Anglo American AAL.L and Glencore GLEN.N. FRX/ "The Fed, along with other major central banks, looks likely to keep tightening rates until the first quarter of 2023," said strategists at the chief investment office at UBS Global Wealth Management. Meanwhile, Brazil's central bank highlighted its growing concern about the effects of lower economic activity on credit risks in the country, but its chief pledged to work with President-elect Luiz Inacio Lula da Silva in the "best way possible."
|
Further on the data front, Chile's copper output slipped 4.27% in September, due to a fall in production from state-owned giant Codelco and Collahuasi, a joint venture of Anglo American AAL.L and Glencore GLEN.N. FRX/ "The Fed, along with other major central banks, looks likely to keep tightening rates until the first quarter of 2023," said strategists at the chief investment office at UBS Global Wealth Management. Meanwhile, Brazil's central bank highlighted its growing concern about the effects of lower economic activity on credit risks in the country, but its chief pledged to work with President-elect Luiz Inacio Lula da Silva in the "best way possible."
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3133.0
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2022-11-03 00:00:00 UTC
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Chile copper production down 4.27% in September - Cochilco
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AAL
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https://www.nasdaq.com/articles/chile-copper-production-down-4.27-in-september-cochilco
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nan
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nan
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SANTIAGO, Nov 3 (Reuters) - Chile's total copper production fell 4.27% in September to 428,300 tonnes, government body Cochilco said on Thursday.
Production from state-owned giant Codelco fell 7.92% on a year-on-year basis to 123,200 tonnes, while production at Collahuasi, a joint venture of Anglo American AAL.L and Glencore GLEN.N, fell 3.5% to 44,500 tonnes.
Copper output from Escondida, which is controlled by Australian mining giant BHP BHP.AX, rose 3.51% to 85,500 tonnes, Cochilco said.
(Reporting by Natalia Ramos; editing by Jonathan Oatis)
((Carolina.Pulice@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Production from state-owned giant Codelco fell 7.92% on a year-on-year basis to 123,200 tonnes, while production at Collahuasi, a joint venture of Anglo American AAL.L and Glencore GLEN.N, fell 3.5% to 44,500 tonnes. SANTIAGO, Nov 3 (Reuters) - Chile's total copper production fell 4.27% in September to 428,300 tonnes, government body Cochilco said on Thursday. Copper output from Escondida, which is controlled by Australian mining giant BHP BHP.AX, rose 3.51% to 85,500 tonnes, Cochilco said.
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Production from state-owned giant Codelco fell 7.92% on a year-on-year basis to 123,200 tonnes, while production at Collahuasi, a joint venture of Anglo American AAL.L and Glencore GLEN.N, fell 3.5% to 44,500 tonnes. SANTIAGO, Nov 3 (Reuters) - Chile's total copper production fell 4.27% in September to 428,300 tonnes, government body Cochilco said on Thursday. Copper output from Escondida, which is controlled by Australian mining giant BHP BHP.AX, rose 3.51% to 85,500 tonnes, Cochilco said.
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Production from state-owned giant Codelco fell 7.92% on a year-on-year basis to 123,200 tonnes, while production at Collahuasi, a joint venture of Anglo American AAL.L and Glencore GLEN.N, fell 3.5% to 44,500 tonnes. SANTIAGO, Nov 3 (Reuters) - Chile's total copper production fell 4.27% in September to 428,300 tonnes, government body Cochilco said on Thursday. (Reporting by Natalia Ramos; editing by Jonathan Oatis) ((Carolina.Pulice@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Production from state-owned giant Codelco fell 7.92% on a year-on-year basis to 123,200 tonnes, while production at Collahuasi, a joint venture of Anglo American AAL.L and Glencore GLEN.N, fell 3.5% to 44,500 tonnes. SANTIAGO, Nov 3 (Reuters) - Chile's total copper production fell 4.27% in September to 428,300 tonnes, government body Cochilco said on Thursday. Copper output from Escondida, which is controlled by Australian mining giant BHP BHP.AX, rose 3.51% to 85,500 tonnes, Cochilco said.
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3134.0
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2022-11-02 00:00:00 UTC
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American Airlines pilots' union rejects pay hike proposal
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AAL
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https://www.nasdaq.com/articles/american-airlines-pilots-union-rejects-pay-hike-proposal
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nan
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Nov 2 (Reuters) - American Airlines pilots' union on Wednesday said its board of directors has rejected a draft agreement that offered a 19% pay hike over two years, as the proposal failed to garner enough votes.
The Allied Pilots Association (APA) has been pushing for higher wages and improved schedules among other things, at a time when the air travel industry is facing a staff shortage, impacting the company's ability to meet robust air travel demand.
The APA in a tweet on Wednesday said the proposed agreement received 15 votes, with just five in its favour.
The company last month offered a 19% pay increase to its pilots over two years in a new contract, after proposing in June to hike the base pay by about 17% through 2024.
American Airlines shares were down 1.6% in afternoon trade.
(Reporting by Shivansh Tiwary in Bengaluru; Editing by Vinay Dwivedi)
((Shivansh.Tiwary@thomsonreuters.com; +91 9708363192;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Nov 2 (Reuters) - American Airlines pilots' union on Wednesday said its board of directors has rejected a draft agreement that offered a 19% pay hike over two years, as the proposal failed to garner enough votes. The Allied Pilots Association (APA) has been pushing for higher wages and improved schedules among other things, at a time when the air travel industry is facing a staff shortage, impacting the company's ability to meet robust air travel demand. The APA in a tweet on Wednesday said the proposed agreement received 15 votes, with just five in its favour.
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Nov 2 (Reuters) - American Airlines pilots' union on Wednesday said its board of directors has rejected a draft agreement that offered a 19% pay hike over two years, as the proposal failed to garner enough votes. The Allied Pilots Association (APA) has been pushing for higher wages and improved schedules among other things, at a time when the air travel industry is facing a staff shortage, impacting the company's ability to meet robust air travel demand. The APA in a tweet on Wednesday said the proposed agreement received 15 votes, with just five in its favour.
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Nov 2 (Reuters) - American Airlines pilots' union on Wednesday said its board of directors has rejected a draft agreement that offered a 19% pay hike over two years, as the proposal failed to garner enough votes. The Allied Pilots Association (APA) has been pushing for higher wages and improved schedules among other things, at a time when the air travel industry is facing a staff shortage, impacting the company's ability to meet robust air travel demand. The company last month offered a 19% pay increase to its pilots over two years in a new contract, after proposing in June to hike the base pay by about 17% through 2024.
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Nov 2 (Reuters) - American Airlines pilots' union on Wednesday said its board of directors has rejected a draft agreement that offered a 19% pay hike over two years, as the proposal failed to garner enough votes. The Allied Pilots Association (APA) has been pushing for higher wages and improved schedules among other things, at a time when the air travel industry is facing a staff shortage, impacting the company's ability to meet robust air travel demand. (Reporting by Shivansh Tiwary in Bengaluru; Editing by Vinay Dwivedi) ((Shivansh.Tiwary@thomsonreuters.com; +91 9708363192;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3135.0
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2022-11-01 00:00:00 UTC
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Is FlexShares High Yield ValueScored Bond ETF (HYGV) a Strong ETF Right Now?
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AAL
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https://www.nasdaq.com/articles/is-flexshares-high-yield-valuescored-bond-etf-hygv-a-strong-etf-right-now-4
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Making its debut on 07/17/2018, smart beta exchange traded fund FlexShares High Yield ValueScored Bond ETF (HYGV) provides investors broad exposure to the High-Yield/Junk Bond ETFs category of the market.
What Are Smart Beta ETFs?
The ETF industry has long been dominated by products based on market cap weighted indexes, a strategy created to reflect the market or a particular market segment.
Market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns, and are a good option for investors who believe in market efficiency.
There are some investors, though, who think it's possible to beat the market with great stock selection; this group likely invests in another class of funds known as smart beta, which track non-cap weighted strategies.
This kind of index follows this same mindset, as it attempts to pick stocks that have better chances of risk-return performance; non-cap weighted strategies base selection on certain fundamental characteristics, or a mix of such characteristics.
Methodologies like equal-weighting, one of the simplest options out there, fundamental weighting, and volatility/momentum based weighting are all choices offered to investors in this space, but not all of them can deliver superior returns.
Fund Sponsor & Index
The fund is sponsored by Flexshares. It has amassed assets over $879.72 million, making it one of the larger ETFs in the High-Yield/Junk Bond ETFs. Before fees and expenses, this particular fund seeks to match the performance of the NORTHERN TRUST HY VLU-SCRD US CORP BD ID.
The Northern Trust High Yield Value-Scored US Corporate Bond Index measures the performance of a diversified universe of high yield, US-dollar denominated bonds of companies exhibiting favorable fundamental qualities, market valuations and liquidity.
Cost & Other Expenses
For ETF investors, expense ratios are an important factor when considering a fund's return; in the long-term, cheaper funds actually have the ability to outperform their more expensive cousins if all other things remain the same.
With on par with most peer products in the space, this ETF has annual operating expenses of 0.37%.
It's 12-month trailing dividend yield comes in at 8.04%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure that minimizes single stock risk, investors should also look at the actual holdings inside the fund. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
Looking at individual holdings, Cash (INTEL) accounts for about 1.16% of total assets, followed by Intelsat Jackson Hldgs S A (MCFE) and Condor Merger Sub Inc Callable Notes Fixed 7.375% (AAL).
HYGV's top 10 holdings account for about 6.21% of its total assets under management.
Performance and Risk
The ETF has lost about -13.62% so far this year and is down about -12.06% in the last one year (as of 11/01/2022). In the past 52-week period, it has traded between $38.86 and $49.82.
The fund has a beta of 0.49 and standard deviation of 12.68% for the trailing three-year period. With about 981 holdings, it effectively diversifies company-specific risk.
Alternatives
FlexShares High Yield ValueScored Bond ETF is not a suitable option for investors seeking to outperform the High-Yield/Junk Bond ETFs segment of the market. Instead, there are other ETFs in the space which investors should consider.
IShares Broad USD High Yield Corporate Bond ETF (USHY) tracks BofA Merrill Lynch U.S. High Yield Constrained Index and the iShares iBoxx High Yield Corporate Bond ETF (HYG) tracks Markit iBoxx USD Liquid High Yield Index. IShares Broad USD High Yield Corporate Bond ETF has $8.05 billion in assets, iShares iBoxx High Yield Corporate Bond ETF has $14.07 billion. USHY has an expense ratio of 0.15% and HYG charges 0.48%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the High-Yield/Junk Bond ETFs.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
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Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.
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FlexShares High Yield ValueScored Bond ETF (HYGV): ETF Research Reports
American Airlines Group Inc. (AAL): Free Stock Analysis Report
iShares iBoxx High Yield Corporate Bond ETF (HYG): ETF Research Reports
iShares Broad USD High Yield Corporate Bond ETF (USHY): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking at individual holdings, Cash (INTEL) accounts for about 1.16% of total assets, followed by Intelsat Jackson Hldgs S A (MCFE) and Condor Merger Sub Inc Callable Notes Fixed 7.375% (AAL). American Airlines Group Inc. (AAL): Free Stock Analysis Report There are some investors, though, who think it's possible to beat the market with great stock selection; this group likely invests in another class of funds known as smart beta, which track non-cap weighted strategies.
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Looking at individual holdings, Cash (INTEL) accounts for about 1.16% of total assets, followed by Intelsat Jackson Hldgs S A (MCFE) and Condor Merger Sub Inc Callable Notes Fixed 7.375% (AAL). American Airlines Group Inc. (AAL): Free Stock Analysis Report IShares Broad USD High Yield Corporate Bond ETF (USHY) tracks BofA Merrill Lynch U.S. High Yield Constrained Index and the iShares iBoxx High Yield Corporate Bond ETF (HYG) tracks Markit iBoxx USD Liquid High Yield Index.
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Looking at individual holdings, Cash (INTEL) accounts for about 1.16% of total assets, followed by Intelsat Jackson Hldgs S A (MCFE) and Condor Merger Sub Inc Callable Notes Fixed 7.375% (AAL). American Airlines Group Inc. (AAL): Free Stock Analysis Report Making its debut on 07/17/2018, smart beta exchange traded fund FlexShares High Yield ValueScored Bond ETF (HYGV) provides investors broad exposure to the High-Yield/Junk Bond ETFs category of the market.
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Looking at individual holdings, Cash (INTEL) accounts for about 1.16% of total assets, followed by Intelsat Jackson Hldgs S A (MCFE) and Condor Merger Sub Inc Callable Notes Fixed 7.375% (AAL). American Airlines Group Inc. (AAL): Free Stock Analysis Report Making its debut on 07/17/2018, smart beta exchange traded fund FlexShares High Yield ValueScored Bond ETF (HYGV) provides investors broad exposure to the High-Yield/Junk Bond ETFs category of the market.
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3136.0
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2022-10-28 00:00:00 UTC
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Chile's copper production falls in September; industrial output also down
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AAL
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https://www.nasdaq.com/articles/chiles-copper-production-falls-in-september-industrial-output-also-down
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nan
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Adds details
SANTIAGO, Oct 28 (Reuters) - Copper output in Chile, the world's largest producer of the metal, fell 2.6% on a year-on-year basis to 439,277 tonnes in September, the country's statistics agency, INE, said on Friday.
INE said the drop was due to lower-grade ore and less processing during the period. Some copper deposits have also been impacted by less availability of water and operational problems.
Global mining giants like Glencore, BHP, Anglo American, Antofagasta and state-owned Codelco all operate in Chile.
Chile's non-metallic mining output rose 11.4% on a year-on-year basis in September due to higher production of lithium carbonate.
Manufacturing output in the country dropped 3.4% in the month, INE added, due to a drop in manufacturing of chemical products and substances.
The agency specifically noted a drop in potassium chloride production, which is used as a fertilizer, as being responsible for the result.
A drop in output of paper and paper products as well as wine from fresh fruits, except sparkling wine, also contributed to the drop in manufacturing, according to the agency.
(Reporting by Fabian Andres Cambero and Gabriel Araujo; Writing by Alexander Villegas; Editing by Steven Grattan and Paul Simao)
((Gabriel.Araujo2@thomsonreuters.com; +55 11 5644 7745;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds details SANTIAGO, Oct 28 (Reuters) - Copper output in Chile, the world's largest producer of the metal, fell 2.6% on a year-on-year basis to 439,277 tonnes in September, the country's statistics agency, INE, said on Friday. Global mining giants like Glencore, BHP, Anglo American, Antofagasta and state-owned Codelco all operate in Chile. Chile's non-metallic mining output rose 11.4% on a year-on-year basis in September due to higher production of lithium carbonate.
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Adds details SANTIAGO, Oct 28 (Reuters) - Copper output in Chile, the world's largest producer of the metal, fell 2.6% on a year-on-year basis to 439,277 tonnes in September, the country's statistics agency, INE, said on Friday. Chile's non-metallic mining output rose 11.4% on a year-on-year basis in September due to higher production of lithium carbonate. Manufacturing output in the country dropped 3.4% in the month, INE added, due to a drop in manufacturing of chemical products and substances.
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Adds details SANTIAGO, Oct 28 (Reuters) - Copper output in Chile, the world's largest producer of the metal, fell 2.6% on a year-on-year basis to 439,277 tonnes in September, the country's statistics agency, INE, said on Friday. Manufacturing output in the country dropped 3.4% in the month, INE added, due to a drop in manufacturing of chemical products and substances. A drop in output of paper and paper products as well as wine from fresh fruits, except sparkling wine, also contributed to the drop in manufacturing, according to the agency.
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Adds details SANTIAGO, Oct 28 (Reuters) - Copper output in Chile, the world's largest producer of the metal, fell 2.6% on a year-on-year basis to 439,277 tonnes in September, the country's statistics agency, INE, said on Friday. Some copper deposits have also been impacted by less availability of water and operational problems. Manufacturing output in the country dropped 3.4% in the month, INE added, due to a drop in manufacturing of chemical products and substances.
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3137.0
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2022-10-28 00:00:00 UTC
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Chile's Codelco profits slump 50% to September, cuts production target
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AAL
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https://www.nasdaq.com/articles/chiles-codelco-profits-slump-50-to-september-cuts-production-target
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nan
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Adds more information about result
SANTIAGO, Oct 28 (Reuters) - Top global copper producer Codelco reported on Friday a 50.4% drop in pre-tax profit to $2.606 billion for the period between January and September, hit by lower copper prices and decreased production in some of its mines.
The Chilean state-owned company said that a "significant drop of 12% in the price of copper sales" compared to the previous year explained almost half of the drop in profits.
Accumulated production totaled 1.06 million tonnes, down 10% from a year ago.
The drop was associated with a decrease in grade ore at the company's Ministro Hales division "due to a change in sequence and a lower recovery of copper", the company said in a statement.
It added that a lower grade ore and a drop in the "activity and recovery of copper in Chuquicamata division and El Teniente" also affected the firm's copper production as well as "operational difficulties" with the Chuquicamata refinery and smelter.
The smelter will undergo major maintenance in November, the company added, which will cause further operational problems.
The company, which gives all of its earnings to the state, faced challenges last quarter, with workers striking over safety conditions and environmental pressure growing over its operations in Chile.
Codelco also cut its copper production estimates for the year to between 1.465 and 1.435 million tonnes, a drop compared to the 1.49-1.51 million tonnes it had forecast in August.
The company said its cost rose 21.2% to $1.574 per pound, up from $1.299 the year before due to lower copper production and higher supply costs.
Adding production from Codelco's participation in the El Abra mine from Freeport McMoRan FCX.N and Anglo American Sur AAL.L, the company's copper production reached 1.136 million tonnes from January to September.
(Reporting by Fabian Cambero; editing by Diane Craft)
((Isabel.woodford@tr.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adding production from Codelco's participation in the El Abra mine from Freeport McMoRan FCX.N and Anglo American Sur AAL.L, the company's copper production reached 1.136 million tonnes from January to September. Adds more information about result SANTIAGO, Oct 28 (Reuters) - Top global copper producer Codelco reported on Friday a 50.4% drop in pre-tax profit to $2.606 billion for the period between January and September, hit by lower copper prices and decreased production in some of its mines. The smelter will undergo major maintenance in November, the company added, which will cause further operational problems.
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Adding production from Codelco's participation in the El Abra mine from Freeport McMoRan FCX.N and Anglo American Sur AAL.L, the company's copper production reached 1.136 million tonnes from January to September. Adds more information about result SANTIAGO, Oct 28 (Reuters) - Top global copper producer Codelco reported on Friday a 50.4% drop in pre-tax profit to $2.606 billion for the period between January and September, hit by lower copper prices and decreased production in some of its mines. Codelco also cut its copper production estimates for the year to between 1.465 and 1.435 million tonnes, a drop compared to the 1.49-1.51 million tonnes it had forecast in August.
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Adding production from Codelco's participation in the El Abra mine from Freeport McMoRan FCX.N and Anglo American Sur AAL.L, the company's copper production reached 1.136 million tonnes from January to September. Adds more information about result SANTIAGO, Oct 28 (Reuters) - Top global copper producer Codelco reported on Friday a 50.4% drop in pre-tax profit to $2.606 billion for the period between January and September, hit by lower copper prices and decreased production in some of its mines. It added that a lower grade ore and a drop in the "activity and recovery of copper in Chuquicamata division and El Teniente" also affected the firm's copper production as well as "operational difficulties" with the Chuquicamata refinery and smelter.
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Adding production from Codelco's participation in the El Abra mine from Freeport McMoRan FCX.N and Anglo American Sur AAL.L, the company's copper production reached 1.136 million tonnes from January to September. The drop was associated with a decrease in grade ore at the company's Ministro Hales division "due to a change in sequence and a lower recovery of copper", the company said in a statement. Codelco also cut its copper production estimates for the year to between 1.465 and 1.435 million tonnes, a drop compared to the 1.49-1.51 million tonnes it had forecast in August.
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3138.0
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2022-10-28 00:00:00 UTC
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How Much Upside is Left in American Airlines (AAL)? Wall Street Analysts Think 29%
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AAL
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https://www.nasdaq.com/articles/how-much-upside-is-left-in-american-airlines-aal-wall-street-analysts-think-29
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nan
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Shares of American Airlines (AAL) have gained 14% over the past four weeks to close the last trading session at $13.97, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $18 indicates a potential upside of 28.9%.
The average comprises 12 short-term price targets ranging from a low of $8 to a high of $28, with a standard deviation of $6.76. While the lowest estimate indicates a decline of 42.7% from the current price level, the most optimistic estimate points to a 100.4% upside. More than the range, one should note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is highly sought after by investors, the ability and unbiasedness of analysts in setting price targets have long been questionable. And investors making investment decisions solely based on this tool would arguably do themselves a disservice.
However, an impressive consensus price target is not the only factor that indicates a potential upside in AAL. This view is strengthened by the agreement among analysts that the company will report better earnings than what they estimated earlier. Though a positive trend in earnings estimate revisions doesn't give any idea as to how much the stock could surge, it has proven effective in predicting an upside.
Price, Consensus and EPS Surprise
Here's What You Should Know About Analysts' Price Targets
According to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Here's Why There Could be Plenty of Upside Left in AAL
Analysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. That's because empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For the current year, seven estimates have moved higher over the last 30 days compared to no negative revision. As a result, the Zacks Consensus Estimate has increased 63.7%.
Moreover, AAL currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Therefore, while the consensus price target may not be a reliable indicator of how much AAL could gain, the direction of price movement it implies does appear to be a good guide.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of American Airlines (AAL) have gained 14% over the past four weeks to close the last trading session at $13.97, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. However, an impressive consensus price target is not the only factor that indicates a potential upside in AAL. Here's Why There Could be Plenty of Upside Left in AAL Analysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock.
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Shares of American Airlines (AAL) have gained 14% over the past four weeks to close the last trading session at $13.97, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. However, an impressive consensus price target is not the only factor that indicates a potential upside in AAL. Here's Why There Could be Plenty of Upside Left in AAL Analysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock.
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You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Therefore, while the consensus price target may not be a reliable indicator of how much AAL could gain, the direction of price movement it implies does appear to be a good guide. Shares of American Airlines (AAL) have gained 14% over the past four weeks to close the last trading session at $13.97, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. However, an impressive consensus price target is not the only factor that indicates a potential upside in AAL.
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However, an impressive consensus price target is not the only factor that indicates a potential upside in AAL. Shares of American Airlines (AAL) have gained 14% over the past four weeks to close the last trading session at $13.97, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Here's Why There Could be Plenty of Upside Left in AAL Analysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock.
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3139.0
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2022-10-27 00:00:00 UTC
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American Airlines offers 19% pay hike to pilots in draft agreement
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AAL
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https://www.nasdaq.com/articles/american-airlines-offers-19-pay-hike-to-pilots-in-draft-agreement
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nan
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By Rajesh Kumar Singh
CHICAGO, Oct 27 (Reuters) - American Airlines AAL.O has offered a 19% pay increase to its pilots over two years in a new contract, according to a draft agreement.
American pilots will get a 12% raise on the date the contract is signed, with another 5% hike after a year and another 2% after two years.
The latest proposal compares with the company's June offer to hike base pay by about 17% through 2024, which was estimated would cost American more than $2 billion.
The draft agreement, however, is yet to be reviewed and approved by the board of American's pilot union. If approved, it is widely expected to act as a benchmark for contract negotiations at rivals United Airlines UAL.O and Delta Air Lines DAL.O.
American has also offered another up to 3% increase in pay rates to match any salary increases at United and Delta.
The offer comes at a time when the airline industry is grappling with staffing shortages after letting go of thousands of pilots during the coronavirus pandemic.
An industry-wide pilot shortage has made it tougher for carriers to ramp up capacity and capitalize on a booming travel demand.
Last week, American said it expects to operate next year at 95%-100% of the pre-pandemic capacity. Delta expects to restore its 2019 capacity only by summer next year.
(Reporting by Rajesh Kumar Singh; Editing by Chris Reese and Deepa Babington)
((rajeshkumar.singh@thomsonreuters.com; +1-312-408-8537; Reuters Messaging: rajeshkumar.singh.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Rajesh Kumar Singh CHICAGO, Oct 27 (Reuters) - American Airlines AAL.O has offered a 19% pay increase to its pilots over two years in a new contract, according to a draft agreement. The latest proposal compares with the company's June offer to hike base pay by about 17% through 2024, which was estimated would cost American more than $2 billion. If approved, it is widely expected to act as a benchmark for contract negotiations at rivals United Airlines UAL.O and Delta Air Lines DAL.O.
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By Rajesh Kumar Singh CHICAGO, Oct 27 (Reuters) - American Airlines AAL.O has offered a 19% pay increase to its pilots over two years in a new contract, according to a draft agreement. American pilots will get a 12% raise on the date the contract is signed, with another 5% hike after a year and another 2% after two years. (Reporting by Rajesh Kumar Singh; Editing by Chris Reese and Deepa Babington) ((rajeshkumar.singh@thomsonreuters.com; +1-312-408-8537; Reuters Messaging: rajeshkumar.singh.thomsonreuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Rajesh Kumar Singh CHICAGO, Oct 27 (Reuters) - American Airlines AAL.O has offered a 19% pay increase to its pilots over two years in a new contract, according to a draft agreement. American pilots will get a 12% raise on the date the contract is signed, with another 5% hike after a year and another 2% after two years. American has also offered another up to 3% increase in pay rates to match any salary increases at United and Delta.
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By Rajesh Kumar Singh CHICAGO, Oct 27 (Reuters) - American Airlines AAL.O has offered a 19% pay increase to its pilots over two years in a new contract, according to a draft agreement. American pilots will get a 12% raise on the date the contract is signed, with another 5% hike after a year and another 2% after two years. Delta expects to restore its 2019 capacity only by summer next year.
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3140.0
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2022-10-27 00:00:00 UTC
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Interesting AAL Put And Call Options For December 9th
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AAL
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https://www.nasdaq.com/articles/interesting-aal-put-and-call-options-for-december-9th
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nan
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nan
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Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading today, for the December 9th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new December 9th contracts and identified one put and one call contract of particular interest.
The put contract at the $13.50 strike price has a current bid of 67 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $13.50, but will also collect the premium, putting the cost basis of the shares at $12.83 (before broker commissions). To an investor already interested in purchasing shares of AAL, that could represent an attractive alternative to paying $14.20/share today.
Because the $13.50 strike represents an approximate 5% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 4.96% return on the cash commitment, or 42.09% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for American Airlines Group Inc, and highlighting in green where the $13.50 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $14.50 strike price has a current bid of 86 cents. If an investor was to purchase shares of AAL stock at the current price level of $14.20/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $14.50. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 8.17% if the stock gets called away at the December 9th expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if AAL shares really soar, which is why looking at the trailing twelve month trading history for American Airlines Group Inc, as well as studying the business fundamentals becomes important. Below is a chart showing AAL's trailing twelve month trading history, with the $14.50 strike highlighted in red:
Considering the fact that the $14.50 strike represents an approximate 2% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 6.06% boost of extra return to the investor, or 51.36% annualized, which we refer to as the YieldBoost.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 252 trading day closing values as well as today's price of $14.20) to be 58%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Of course, a lot of upside could potentially be left on the table if AAL shares really soar, which is why looking at the trailing twelve month trading history for American Airlines Group Inc, as well as studying the business fundamentals becomes important. Below is a chart showing AAL's trailing twelve month trading history, with the $14.50 strike highlighted in red: Considering the fact that the $14.50 strike represents an approximate 2% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading today, for the December 9th expiration.
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Below is a chart showing AAL's trailing twelve month trading history, with the $14.50 strike highlighted in red: Considering the fact that the $14.50 strike represents an approximate 2% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading today, for the December 9th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new December 9th contracts and identified one put and one call contract of particular interest.
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Below is a chart showing AAL's trailing twelve month trading history, with the $14.50 strike highlighted in red: Considering the fact that the $14.50 strike represents an approximate 2% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading today, for the December 9th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new December 9th contracts and identified one put and one call contract of particular interest.
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Below is a chart showing AAL's trailing twelve month trading history, with the $14.50 strike highlighted in red: Considering the fact that the $14.50 strike represents an approximate 2% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading today, for the December 9th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new December 9th contracts and identified one put and one call contract of particular interest.
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3141.0
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2022-10-27 00:00:00 UTC
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European stocks slip ahead of ECB rate decision, Credit Suisse tumbles
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AAL
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https://www.nasdaq.com/articles/european-stocks-slip-ahead-of-ecb-rate-decision-credit-suisse-tumbles
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nan
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nan
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By Sruthi Shankar and Anisha Sircar
Oct 27 (Reuters) - European shares fell on Thursday in cautious trading ahead of a widely expected interest rate hike from the European Central Bank, while Credit Suisse tumbled after unveiling restructuring plans.
The pan-European STOXX 600 index .STOXX slipped 0.5% after closing at a five-week high on Wednesday on expectations that major central banks will slow the pace of monetary policy tightening.
Credit Suisse CSGN.S fell 11.2% after the embattled lender said it planned to raise 4 billion Swiss francs ($4.05 billion), cut thousands of jobs and shift its focus towards its rich clients from investment banking, as it attempts to put years of scandals behind it.
Its shares hit a two-week low after slumping to record lows recently.
"The large Q3 net loss is a negative surprise and the capital raise is larger than we thought it would be," analysts at Jefferies said in a note. "Given the significant uncertainty & execution risk we continue to see a better risk/reward elsewhere, esp. as peers are also trading at low multiples."
All eyes are on the European Central Bank's announcement, due at 1215 GMT, with policymakers widely expected to hike interest rates by 75 basis points to 0.75%. The bank is also likely to take the first steps in reducing its 8.8 trillion euro balance sheet, bloated by years of debt purchases and ultra cheap loans extended to banks.
"We had warnings from the IFO about a contraction in German growth in Q4, so a recession does look inevitable," said Jane Foley, head of FX strategy at Rabobank, told the Reuters Global Markets Forum.
"Assuming that ECB hikes by 75 bps, it would be very hard to follow this up with a similar sized moved next time around. We expect the ECB to move to a 50 bps increment and then a 25 bps move early next year."
Boosting UK's FTSE 100, Shell SHEL.L rose 3.7% after the energy major posted a third-quarter profit of $9.45 billion and announced plans to sharply boost its dividend by year-end. France's TotalEnergies TTEF.PA gained 1.3% after posting a sharp jump in its third-quarter net profit.
The duo helped lift Europe's oil & gas sector .SXEP by 1.7%.
However, technology stocks .SX8P continued to remain under pressure as Franco-Italian chipmaker STMicroelectronics STM.PA slumped 7.9% after it forecast sales growth to slow in the latter part of the year.
Miners .SXPP also took a hit as Anglo American AAL.L fell 4.3% after a drop in copper production kept its third-quarter output broadly in line with last year.
($1 = 0.9873 Swiss francs)
(Reporting by Sruthi Shankar and Anisha Sircar in Bengaluru; Editing by Rashmi Aich and Vinay Dwivedi)
((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2787;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Miners .SXPP also took a hit as Anglo American AAL.L fell 4.3% after a drop in copper production kept its third-quarter output broadly in line with last year. The pan-European STOXX 600 index .STOXX slipped 0.5% after closing at a five-week high on Wednesday on expectations that major central banks will slow the pace of monetary policy tightening. All eyes are on the European Central Bank's announcement, due at 1215 GMT, with policymakers widely expected to hike interest rates by 75 basis points to 0.75%.
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Miners .SXPP also took a hit as Anglo American AAL.L fell 4.3% after a drop in copper production kept its third-quarter output broadly in line with last year. By Sruthi Shankar and Anisha Sircar Oct 27 (Reuters) - European shares fell on Thursday in cautious trading ahead of a widely expected interest rate hike from the European Central Bank, while Credit Suisse tumbled after unveiling restructuring plans. Credit Suisse CSGN.S fell 11.2% after the embattled lender said it planned to raise 4 billion Swiss francs ($4.05 billion), cut thousands of jobs and shift its focus towards its rich clients from investment banking, as it attempts to put years of scandals behind it.
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Miners .SXPP also took a hit as Anglo American AAL.L fell 4.3% after a drop in copper production kept its third-quarter output broadly in line with last year. By Sruthi Shankar and Anisha Sircar Oct 27 (Reuters) - European shares fell on Thursday in cautious trading ahead of a widely expected interest rate hike from the European Central Bank, while Credit Suisse tumbled after unveiling restructuring plans. Credit Suisse CSGN.S fell 11.2% after the embattled lender said it planned to raise 4 billion Swiss francs ($4.05 billion), cut thousands of jobs and shift its focus towards its rich clients from investment banking, as it attempts to put years of scandals behind it.
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Miners .SXPP also took a hit as Anglo American AAL.L fell 4.3% after a drop in copper production kept its third-quarter output broadly in line with last year. By Sruthi Shankar and Anisha Sircar Oct 27 (Reuters) - European shares fell on Thursday in cautious trading ahead of a widely expected interest rate hike from the European Central Bank, while Credit Suisse tumbled after unveiling restructuring plans. The pan-European STOXX 600 index .STOXX slipped 0.5% after closing at a five-week high on Wednesday on expectations that major central banks will slow the pace of monetary policy tightening.
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3142.0
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2022-10-27 00:00:00 UTC
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Anglo American Q3 production flat as copper's drop offsets upbeat coal output
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AAL
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https://www.nasdaq.com/articles/anglo-american-q3-production-flat-as-coppers-drop-offsets-upbeat-coal-output
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nan
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nan
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Adds detail, background
Oct 27 (Reuters) - Global miner Anglo American AAL.L said on Thursday its third-quarter output was broadly in line with last year, as a drop in copper production offset a ramp up in coal operations and strong performance at its De Beers diamond unit.
In the quarter ended Sept. 30, production of rough diamonds rose 4% year-on-year to 9.6 million carats, supported by higher grades in Botswana, while copper production dipped 6% on lower grades at the group's operations in Chile.
Steel-making coal production jumped 28% to 5.5 million tonnes as the group ramped up longwall operations at its underground mines in Grosvenor and Aquila.
Demand for rough diamonds has risen this year as gold and diamonds from Russia went off-limits due to western sanctions against Russian companies, including Alrosa ALRS.MM, the world's largest producer of rough diamonds that competes with Anglo American's unit De Beers.
Anglo American's quarterly output grew 16% from the previous three months led by the robust coal and diamond operations.
The group reiterated its annual production outlook for diamonds but flagged that sales in the fourth quarter could be hit by closure of cutting and polishing factories for holidays in India.
(Reporting by Muhammed Husain in Bengaluru; Editing by Sherry Jacob-Phillips and Dhanya Ann Thoppil)
((Muhammed.Husain@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds detail, background Oct 27 (Reuters) - Global miner Anglo American AAL.L said on Thursday its third-quarter output was broadly in line with last year, as a drop in copper production offset a ramp up in coal operations and strong performance at its De Beers diamond unit. Steel-making coal production jumped 28% to 5.5 million tonnes as the group ramped up longwall operations at its underground mines in Grosvenor and Aquila. The group reiterated its annual production outlook for diamonds but flagged that sales in the fourth quarter could be hit by closure of cutting and polishing factories for holidays in India.
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Adds detail, background Oct 27 (Reuters) - Global miner Anglo American AAL.L said on Thursday its third-quarter output was broadly in line with last year, as a drop in copper production offset a ramp up in coal operations and strong performance at its De Beers diamond unit. Demand for rough diamonds has risen this year as gold and diamonds from Russia went off-limits due to western sanctions against Russian companies, including Alrosa ALRS.MM, the world's largest producer of rough diamonds that competes with Anglo American's unit De Beers. Anglo American's quarterly output grew 16% from the previous three months led by the robust coal and diamond operations.
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Adds detail, background Oct 27 (Reuters) - Global miner Anglo American AAL.L said on Thursday its third-quarter output was broadly in line with last year, as a drop in copper production offset a ramp up in coal operations and strong performance at its De Beers diamond unit. In the quarter ended Sept. 30, production of rough diamonds rose 4% year-on-year to 9.6 million carats, supported by higher grades in Botswana, while copper production dipped 6% on lower grades at the group's operations in Chile. Demand for rough diamonds has risen this year as gold and diamonds from Russia went off-limits due to western sanctions against Russian companies, including Alrosa ALRS.MM, the world's largest producer of rough diamonds that competes with Anglo American's unit De Beers.
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Adds detail, background Oct 27 (Reuters) - Global miner Anglo American AAL.L said on Thursday its third-quarter output was broadly in line with last year, as a drop in copper production offset a ramp up in coal operations and strong performance at its De Beers diamond unit. In the quarter ended Sept. 30, production of rough diamonds rose 4% year-on-year to 9.6 million carats, supported by higher grades in Botswana, while copper production dipped 6% on lower grades at the group's operations in Chile. Steel-making coal production jumped 28% to 5.5 million tonnes as the group ramped up longwall operations at its underground mines in Grosvenor and Aquila.
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3143.0
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2022-10-26 00:00:00 UTC
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Chile's mining industry dissatisfied with mining royalty adjustments
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AAL
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https://www.nasdaq.com/articles/chiles-mining-industry-dissatisfied-with-mining-royalty-adjustments
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nan
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nan
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SANTIAGO, Oct 26 (Reuters) - Chile's mining industry said on Wednesday the sector is still dissatisfied with a proposed mining royalty bill, because despite recent adjustments the increased rates would hurt the country's competitiveness.
The government had on Tuesday announced modifications to a proposed mining royalty bill, lowering a variable "ad valorem" rate to a flat 1% for large producers and tying another rate to operating margins, instead of the price of copper as was originally proposed.
Jorge Riesco, president of Chile's National Mining Society (Sonami) which represents 76 medium and large companies including Anglo American AAL.L, BHP BHP.AX and Glencore GLEN.L, as well as associations representing more than 2,000 small-scale miners, said that while the adjustments benefited medium-sized miners, he believed the tax burden would still be too high.
"It is undeniable that this proposal still lacks if it wants to be at a level comparable to other countries for attracting investment in terms of total tax burden," Riesco said in a local radio interview.
He added that dialogue between the government and companies was frank "but not totally fruitful" and that according to Sonami's calculations, the tax burden on mining companies could be between 50% and 55%.
"We can reach 55% of the total tax burden for those times when higher prices allow higher margins and the truth is that this will leave us out of competition for investments in our industry," Riesco said.
Riesco argued that the government should consider promoting more mining production instead of increasing taxes, arguing this would make a greater contribution to the treasury.
"I don't understand the commitment to types of total contribution that leave us out of competition and can affect what's precisely our most valuable element, which are production increases," Riesco said.
(Report by Fabián Andrés Cambero; Writing by Alexander Villegas; Editing by David Holmes)
((fabian.cambero@thomsonreuters.com; twitter: @fab_reuters; +569 62479675;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Jorge Riesco, president of Chile's National Mining Society (Sonami) which represents 76 medium and large companies including Anglo American AAL.L, BHP BHP.AX and Glencore GLEN.L, as well as associations representing more than 2,000 small-scale miners, said that while the adjustments benefited medium-sized miners, he believed the tax burden would still be too high. "It is undeniable that this proposal still lacks if it wants to be at a level comparable to other countries for attracting investment in terms of total tax burden," Riesco said in a local radio interview. "I don't understand the commitment to types of total contribution that leave us out of competition and can affect what's precisely our most valuable element, which are production increases," Riesco said.
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Jorge Riesco, president of Chile's National Mining Society (Sonami) which represents 76 medium and large companies including Anglo American AAL.L, BHP BHP.AX and Glencore GLEN.L, as well as associations representing more than 2,000 small-scale miners, said that while the adjustments benefited medium-sized miners, he believed the tax burden would still be too high. SANTIAGO, Oct 26 (Reuters) - Chile's mining industry said on Wednesday the sector is still dissatisfied with a proposed mining royalty bill, because despite recent adjustments the increased rates would hurt the country's competitiveness. The government had on Tuesday announced modifications to a proposed mining royalty bill, lowering a variable "ad valorem" rate to a flat 1% for large producers and tying another rate to operating margins, instead of the price of copper as was originally proposed.
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Jorge Riesco, president of Chile's National Mining Society (Sonami) which represents 76 medium and large companies including Anglo American AAL.L, BHP BHP.AX and Glencore GLEN.L, as well as associations representing more than 2,000 small-scale miners, said that while the adjustments benefited medium-sized miners, he believed the tax burden would still be too high. SANTIAGO, Oct 26 (Reuters) - Chile's mining industry said on Wednesday the sector is still dissatisfied with a proposed mining royalty bill, because despite recent adjustments the increased rates would hurt the country's competitiveness. The government had on Tuesday announced modifications to a proposed mining royalty bill, lowering a variable "ad valorem" rate to a flat 1% for large producers and tying another rate to operating margins, instead of the price of copper as was originally proposed.
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Jorge Riesco, president of Chile's National Mining Society (Sonami) which represents 76 medium and large companies including Anglo American AAL.L, BHP BHP.AX and Glencore GLEN.L, as well as associations representing more than 2,000 small-scale miners, said that while the adjustments benefited medium-sized miners, he believed the tax burden would still be too high. SANTIAGO, Oct 26 (Reuters) - Chile's mining industry said on Wednesday the sector is still dissatisfied with a proposed mining royalty bill, because despite recent adjustments the increased rates would hurt the country's competitiveness. The government had on Tuesday announced modifications to a proposed mining royalty bill, lowering a variable "ad valorem" rate to a flat 1% for large producers and tying another rate to operating margins, instead of the price of copper as was originally proposed.
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3144.0
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2022-10-25 00:00:00 UTC
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Should You Invest in the U.S. Global Jets ETF (JETS)?
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AAL
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https://www.nasdaq.com/articles/should-you-invest-in-the-u.s.-global-jets-etf-jets-4
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nan
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nan
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The U.S. Global Jets ETF (JETS) was launched on 04/30/2015, and is a passively managed exchange traded fund designed to offer broad exposure to the Industrials - Transportation/Shipping segment of the equity market.
An increasingly popular option among retail and institutional investors, passively managed ETFs offer low costs, transparency, flexibility, and tax efficiency; they are also excellent vehicles for long term investors.
Additionally, sector ETFs offer convenient ways to gain low risk and diversified exposure to a broad group of companies in particular sectors. Industrials - Transportation/Shipping is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 6, placing it in top 38%.
Index Details
The fund is sponsored by U.S. Global Investors. It has amassed assets over $2.06 billion, making it one of the largest ETFs attempting to match the performance of the Industrials - Transportation/Shipping segment of the equity market. JETS seeks to match the performance of the U.S. Global Jets Index before fees and expenses.
The U.S. Global Jets Index tracks the performance of Airline Companies across the globe with an emphasis on domestic passenger airlines.
Costs
Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive counterparts if all other fundamentals are the same.
Annual operating expenses for this ETF are 0.60%, making it on par with most peer products in the space.
It has a 12-month trailing dividend yield of 0.83%.
Sector Exposure and Top Holdings
ETFs offer a diversified exposure and thus minimize single stock risk but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.
Looking at individual holdings, Southwest Airls Co (LUV) accounts for about 9.42% of total assets, followed by Delta Air Lines Inc Del (DAL) and American Airls Group Inc (AAL).
The top 10 holdings account for about 56.14% of total assets under management.
Performance and Risk
Year-to-date, the U.S. Global Jets ETF has lost about -22.14% so far, and is down about -24.37% over the last 12 months (as of 10/25/2022). JETS has traded between $15.01 and $24.79 in this past 52-week period.
The ETF has a beta of 1.30 and standard deviation of 48.08% for the trailing three-year period, making it a high risk choice in the space. With about 51 holdings, it effectively diversifies company-specific risk.
Alternatives
U.S. Global Jets ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, JETS is a reasonable option for those seeking exposure to the Industrials ETFs area of the market. Investors might also want to consider some other ETF options in the space.
SPDR S&P Transportation ETF (XTN) tracks S&P Transportation Select Industry Index and the iShares U.S. Transportation ETF (IYT) tracks Dow Jones Transportation Average Index. SPDR S&P Transportation ETF has $419.31 million in assets, iShares U.S. Transportation ETF has $735.03 million. XTN has an expense ratio of 0.35% and IYT charges 0.39%.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
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Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.
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U.S. Global Jets ETF (JETS): ETF Research Reports
Delta Air Lines, Inc. (DAL): Free Stock Analysis Report
Southwest Airlines Co. (LUV): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
iShares U.S. Transportation ETF (IYT): ETF Research Reports
SPDR S&P Transportation ETF (XTN): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking at individual holdings, Southwest Airls Co (LUV) accounts for about 9.42% of total assets, followed by Delta Air Lines Inc Del (DAL) and American Airls Group Inc (AAL). American Airlines Group Inc. (AAL): Free Stock Analysis Report It has amassed assets over $2.06 billion, making it one of the largest ETFs attempting to match the performance of the Industrials - Transportation/Shipping segment of the equity market.
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Looking at individual holdings, Southwest Airls Co (LUV) accounts for about 9.42% of total assets, followed by Delta Air Lines Inc Del (DAL) and American Airls Group Inc (AAL). American Airlines Group Inc. (AAL): Free Stock Analysis Report An increasingly popular option among retail and institutional investors, passively managed ETFs offer low costs, transparency, flexibility, and tax efficiency; they are also excellent vehicles for long term investors.
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Looking at individual holdings, Southwest Airls Co (LUV) accounts for about 9.42% of total assets, followed by Delta Air Lines Inc Del (DAL) and American Airls Group Inc (AAL). American Airlines Group Inc. (AAL): Free Stock Analysis Report SPDR S&P Transportation ETF (XTN) tracks S&P Transportation Select Industry Index and the iShares U.S. Transportation ETF (IYT) tracks Dow Jones Transportation Average Index.
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Looking at individual holdings, Southwest Airls Co (LUV) accounts for about 9.42% of total assets, followed by Delta Air Lines Inc Del (DAL) and American Airls Group Inc (AAL). American Airlines Group Inc. (AAL): Free Stock Analysis Report Global Jets ETF (JETS) was launched on 04/30/2015, and is a passively managed exchange traded fund designed to offer broad exposure to the Industrials - Transportation/Shipping segment of the equity market.
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3145.0
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2022-10-25 00:00:00 UTC
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EXCLUSIVE-FAA sees aviation safety risks without U.S. telecom agency mandate -- letter
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AAL
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https://www.nasdaq.com/articles/exclusive-faa-sees-aviation-safety-risks-without-u.s.-telecom-agency-mandate-letter
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nan
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nan
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Oct 25 (Reuters) - The Federal Aviation Administration (FAA) wants the U.S. telecommunications regulator agency to ensure a delay in some 5G C-Band transmissions from smaller operators.
Acting FAA Administrator Billy Nolen said the agency wants the Federal Communications Commission to mandate voluntary mitigations that AT&T T.N and Verizon VZ.N agreed to earlier this year mandated for 19 smaller telecoms and other spectrum holders. In a previously unreported letter dated Friday, Nolen cited industry data established "aviation safety would be compromised if the U.S. government does not codify certain additional operating limits in the 5G C-Band environment."
(Reporting by David Shepardson)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Oct 25 (Reuters) - The Federal Aviation Administration (FAA) wants the U.S. telecommunications regulator agency to ensure a delay in some 5G C-Band transmissions from smaller operators. Acting FAA Administrator Billy Nolen said the agency wants the Federal Communications Commission to mandate voluntary mitigations that AT&T T.N and Verizon VZ.N agreed to earlier this year mandated for 19 smaller telecoms and other spectrum holders. In a previously unreported letter dated Friday, Nolen cited industry data established "aviation safety would be compromised if the U.S. government does not codify certain additional operating limits in the 5G C-Band environment."
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Oct 25 (Reuters) - The Federal Aviation Administration (FAA) wants the U.S. telecommunications regulator agency to ensure a delay in some 5G C-Band transmissions from smaller operators. Acting FAA Administrator Billy Nolen said the agency wants the Federal Communications Commission to mandate voluntary mitigations that AT&T T.N and Verizon VZ.N agreed to earlier this year mandated for 19 smaller telecoms and other spectrum holders. (Reporting by David Shepardson) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Oct 25 (Reuters) - The Federal Aviation Administration (FAA) wants the U.S. telecommunications regulator agency to ensure a delay in some 5G C-Band transmissions from smaller operators. Acting FAA Administrator Billy Nolen said the agency wants the Federal Communications Commission to mandate voluntary mitigations that AT&T T.N and Verizon VZ.N agreed to earlier this year mandated for 19 smaller telecoms and other spectrum holders. (Reporting by David Shepardson) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Oct 25 (Reuters) - The Federal Aviation Administration (FAA) wants the U.S. telecommunications regulator agency to ensure a delay in some 5G C-Band transmissions from smaller operators. Acting FAA Administrator Billy Nolen said the agency wants the Federal Communications Commission to mandate voluntary mitigations that AT&T T.N and Verizon VZ.N agreed to earlier this year mandated for 19 smaller telecoms and other spectrum holders. In a previously unreported letter dated Friday, Nolen cited industry data established "aviation safety would be compromised if the U.S. government does not codify certain additional operating limits in the 5G C-Band environment."
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3 Airline Stocks To Watch Ahead Of November 2022
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AAL
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https://www.nasdaq.com/articles/3-airline-stocks-to-watch-ahead-of-november-2022
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Airline stocks have been on a roller coaster ride in recent years, buffeted by a series of challenges ranging from global lockdowns, and higher fuel prices to political instability. Nevertheless, the industry has shown resilience in the face of these difficulties, and many investors believe that now could be a good time to invest in airline stocks.
One key reason for this optimism is due to the growing demand for air travel and the increasing number of people who can afford to fly. Air travel is becoming more accessible to a wider range of people, and as the economy improves, more people are able to take advantage of this convenient and affordable form of transportation. This is expected to continue in the years ahead, providing a tailwind for airline stocks.
So, although there may be turbulence along the way, long-term investors could be rewarded for placing their faith in the airline industry. If this has you interested in investing in the airline sector, here are three top airline stocks to watch in the stock market today.
Airline Stocks To Buy [Or Sell] Right Now
American Airlines Group Inc. (NASDAQ: AAL)
Airport Transport Services Group Inc. (NASDAQ: ATSG)
Delta Air Lines, Inc. (NYSE: DAL)
1. American Airlines Group (AAL Stock)
Starting off the list today is American Airlines Group (AAL). For starters, American Airlines Group is one of the world’s largest airline conglomerates. In detail, the company operates a fleet of over 900 aircraft, serving 350 destinations in 50 countries. Moreover, American Airlines employs over 130,000 people and generates annual revenue of over $29 billion in 2021.
AAL Recent Stock News
Just last week, American Airlines Group reported better-than-expected third-quarter 2022 financial results. Diving in, the company reported 3rd quarter 2022 earnings of $0.69 per share, along with revenue of $13.5 billion. This was versus Wall Street’s consensus earnings estimates of $0.54 per share, with revenue of $13.3 billion.
Additionally, the airline company posted a 50.1% increase in revenue during the same period in 2021. What’s more, American Airlines also said it expects Q4 2022 earnings of $0.50 to $0.70 per share, with revenue estimates of $12.5 billion to $12.7 billion.
Furthermore, American Airlines Group’s CEO Robert Isom commented, “Demand remains strong, and it’s clear that customers in the U.S. and other parts of the world continue to value air travel and the ability to reconnect post-pandemic. American has the youngest, most fuel-efficient fleet among U.S. network carriers, and we are well-positioned for the future because of the incredible efforts of our team.”
AAL Stock Chart
In the last month of trading action, American Airlines Group stock has rebounded 19.31% as of Tuesday morning. Meanwhile, shares of AAL stock are up 0.35% during Tuesday morning’s trading session at $14.15 a share.
Source: TD Ameritrade TOS
[Read More] 3 Dow Jones Industrial Average Stocks To Watch Today
2. Airport Transport Services Group (ATSG Stock)
Next up, we have Airport Transport Services Group (ATSG). Air Transport Services Group Inc along with its subsidiaries operates within the airfreight and logistics industry. Specifically, the company leases aircraft and provides airline operations, ground services, aircraft modification and maintenance, and other support services. Additionally, ATSG mainly focuses on the cargo transportation and package delivery industries.
ATSG Recent Stock News
This month, the company announced that it will host its third quarter 2022 investor conference call on Friday, November 4, 2022, at 10 a.m EST. Meanwhile, the company will release its Q3 2022 financial results on Thursday, November 3, 2022, after the close of the U.S. stock market. To recap, in the second quarter of 2022, ATSG reported earnings of $0.59 a share, with revenue of $509.7 million.
ATSG Stock Chart
Over the last month of trading, ATSG stock has rebounded 14.51%. While, on Tuesday morning, shares of ATSG stock are up 1.52% trading at $27.43 a share.
Source: TD Ameritrade TOS
[Read More] What Happens To Stocks During A Recession?
3. Delta Air Lines (DAL Stock)
Lastly, let’s check out Delta Air Lines (DAL). In brief, Delta Air Lines is a major American airline, with its headquarters and largest hub at Hartsfield–Jackson Atlanta International Airport in Atlanta, Georgia. Delta operates an extensive domestic and international network, offering service to more than 275 destinations on six continents.
DAL Recent Stock News
Earlier this month, Delta reported a miss for its third-quarter 2022 earnings results. Getting straight to it, the company posted Q3 2022 earnings of $1.51 a share, along with revenue of $14 billion. For context, this is compared to analysts’ consensus estimates for Q3, which were earnings of $1.56 per share, and revenue of $12.9 billion. Though they missed on earnings, DAL reported a 52.7% increase in revenue during the same period, a year prior.
Moreover, Ed Bastian, Delta’s CEO said, “Thanks to the incredible work of our entire team, Delta delivered a strong September quarter with record quarterly revenues and a double-digit operating margin. The travel recovery continues as consumer spend shifts to experiences and demand improves in corporate and international.“
DAL Stock Chart
Similar to the names mentioned above, in the last month of trading, DAL stock recovered 19.31%. Though, shares of Delta stock are still down 17.03% year-to-date. Meanwhile, during Tuesday’s mid-morning trading session, DAL stock is trading modestly higher up 0.32% at $33.38 a share.
Source: TD Ameritrade TOS
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Airline Stocks To Buy [Or Sell] Right Now American Airlines Group Inc. (NASDAQ: AAL) Airport Transport Services Group Inc. (NASDAQ: ATSG) Delta Air Lines, Inc. (NYSE: DAL) 1. American Airlines Group (AAL Stock) Starting off the list today is American Airlines Group (AAL). AAL Recent Stock News Just last week, American Airlines Group reported better-than-expected third-quarter 2022 financial results.
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Airline Stocks To Buy [Or Sell] Right Now American Airlines Group Inc. (NASDAQ: AAL) Airport Transport Services Group Inc. (NASDAQ: ATSG) Delta Air Lines, Inc. (NYSE: DAL) 1. AAL Recent Stock News Just last week, American Airlines Group reported better-than-expected third-quarter 2022 financial results. American Airlines Group (AAL Stock) Starting off the list today is American Airlines Group (AAL).
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Airline Stocks To Buy [Or Sell] Right Now American Airlines Group Inc. (NASDAQ: AAL) Airport Transport Services Group Inc. (NASDAQ: ATSG) Delta Air Lines, Inc. (NYSE: DAL) 1. American Airlines Group (AAL Stock) Starting off the list today is American Airlines Group (AAL). American has the youngest, most fuel-efficient fleet among U.S. network carriers, and we are well-positioned for the future because of the incredible efforts of our team.” AAL Stock Chart In the last month of trading action, American Airlines Group stock has rebounded 19.31% as of Tuesday morning.
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Airline Stocks To Buy [Or Sell] Right Now American Airlines Group Inc. (NASDAQ: AAL) Airport Transport Services Group Inc. (NASDAQ: ATSG) Delta Air Lines, Inc. (NYSE: DAL) 1. American Airlines Group (AAL Stock) Starting off the list today is American Airlines Group (AAL). AAL Recent Stock News Just last week, American Airlines Group reported better-than-expected third-quarter 2022 financial results.
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2022-10-24 00:00:00 UTC
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Zacks.com featured highlights include American Airlines, Delta Air Lines, CVR Energy, Bunge Ltd. and Cardinal Health
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AAL
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https://www.nasdaq.com/articles/zacks.com-featured-highlights-include-american-airlines-delta-air-lines-cvr-energy-bunge
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For Immediate Release
Chicago, IL – October 24, 2022 – Stocks in this week’s article are American Airlines AAL, Delta Air Lines DAL, CVR Energy CVI, Bunge Ltd. BG and Cardinal Health CAH.
Check 5 Broker-Friendly Stocks for Returns Amid Market Chaos
With inflation remaining sky-high in the United States, markets have been gripped by extreme volatility this year so far. To combat the surging inflation in the country, the Fed adopted a hawkish stance. Per the latest available data, the Consumer Price Index (CPI) inflation for September 2022 was up 8.2% year over year. The core CPI (excluding volatile food and energy items) increased 6.6% year over year in September compared with 6.5% in August.
As a result of this high reading, the Fed, which has already raised its core interest rate of 3% year to date, is likely to continue its interest-raising policy. Higher interest rates flare up the cost of borrowing, thus increasing the possibility of an economic slowdown.
This gloomy scenario and the uncertain path ahead are well reflected in the double-digit year-to-date declines in the Dow Jones Industrial Average, Nasdaq composite and the S&P 500 indexes. Despite the current turmoil, turning one's back on equities is never advisable. So what's the way forward?
One way is to adhere to broker advice. Broker-friendly stocks like American Airlines, Delta Air Lines, CVR Energy, Bunge Ltd. and Cardinal Health are worth having a look at for healthy returns.
Why Broker Advice is the Need of the Hour
In the absence of proper guidance, individual investors may end up selecting wrong stocks for their portfolio. This might waste their hard-earned money, which they invested in the stock markets.
As brokers indulge in extensive research on stocks under their coverage, they have access to much detailed information on a company. To this end, they attend company conference calls/presentations and scrutinize every piece of document available in the public domain. After thorough research, brokers recommend (buy, sell or hold) a stock. Naturally, individual investors should avail of brokers' handy tips while designing a winning basket of stocks.
Winning Strategy
The above write-up clearly suggests that by following broker actions, one can arrive at a winning portfolio of stocks. Keeping this in mind, we designed a screen to shortlist stocks based on improving analyst recommendations and northward revisions of earnings estimates over the last four weeks.
Also, since the price/sales ratio is a strong complementary valuation metric in the presence of analyst information, it is included. The price/sales ratio takes care of a company's top line, making the strategy foolproof.
Here are five of the 10 stocks that passed the screen test:
American Airlines is based in Fort Worth, TX. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. However, high fuel costs are hurting the bottom line.
Over the past 60 days, the stock has seen the Zacks Consensus Estimate for 2022 earnings being revised 10.9% upward. AAL currently carries a Zacks Rank #3 (Hold).
Delta, currently carrying a Zacks Rank of 3, is based in Atlanta, GA. DAL is being bolstered by the uptick in demand for air travel (particularly for leisure). High fuel costs are, however, a bane.
Delta's earnings outshined the Zacks Consensus Estimate in two of the last four quarters (missing the mark in the remaining two quarters). The average beat is 7.9%.
CVR Energy is an independent refiner and marketer of high-value transportation fuels. CVI is also a producer of ammonia and urea ammonia nitrate fertilizers. CVI's petroleum business includes full-coking sour crude refinery in Coffeyville, KS. Its efforts to reward its shareholders underline its strong financial position. The robust Nitrogen Fertilizer unit is supporting growth.
CVR Energy, currently carrying a Zacks Rank #2 (Buy), has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 4.30% over the past 60 days.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Bunge : Headquartered in St. Louis, MO, Bunge operates as an agribusiness firm, delivering essential food, feed and fuel across the globe. BG is reportedly the world's leader in oilseed processing, and a leading producer and supplier of specialty plant-based oils and fats.
Bunge delivered a trailing four-quarter earnings surprise of 50.7%, on average. BG has a long-term earnings growth expectation of 6.7%. It currently carries a Zacks Rank of 3.
Cardinal Health is being well-served by its pharmaceutical segment. Its diversified product portfolio bodes well. CAH's acquisition-driven strategy is encouraging as well.
Cardinal Health is currently Zacks #3 Ranked. The Zacks Consensus Estimate for CAH's current-year earnings has risen 2.7% year over year from the 2021 actuals.
You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and backtest them first before taking the investment plunge.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
Click here to sign up for a free trial to the Research Wizard today.
this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/1995458/check-5-broker-friendly-stocks-for-returns-amid-market-chaos
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
About Screen of the Week
Zacks.com created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine. But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>.
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Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Delta Air Lines, Inc. (DAL): Free Stock Analysis Report
Cardinal Health, Inc. (CAH): Free Stock Analysis Report
Bunge Limited (BG): Free Stock Analysis Report
CVR Energy Inc. (CVI): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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For Immediate Release Chicago, IL – October 24, 2022 – Stocks in this week’s article are American Airlines AAL, Delta Air Lines DAL, CVR Energy CVI, Bunge Ltd. BG and Cardinal Health CAH. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. AAL currently carries a Zacks Rank #3 (Hold).
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For Immediate Release Chicago, IL – October 24, 2022 – Stocks in this week’s article are American Airlines AAL, Delta Air Lines DAL, CVR Energy CVI, Bunge Ltd. BG and Cardinal Health CAH. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. AAL currently carries a Zacks Rank #3 (Hold).
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For Immediate Release Chicago, IL – October 24, 2022 – Stocks in this week’s article are American Airlines AAL, Delta Air Lines DAL, CVR Energy CVI, Bunge Ltd. BG and Cardinal Health CAH. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. AAL currently carries a Zacks Rank #3 (Hold).
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For Immediate Release Chicago, IL – October 24, 2022 – Stocks in this week’s article are American Airlines AAL, Delta Air Lines DAL, CVR Energy CVI, Bunge Ltd. BG and Cardinal Health CAH. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. AAL currently carries a Zacks Rank #3 (Hold).
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2022-10-21 00:00:00 UTC
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Airlines oppose U.S. push on flight delay compensation
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https://www.nasdaq.com/articles/airlines-oppose-u.s.-push-on-flight-delay-compensation
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By David Shepardson
WASHINGTON, Oct 21 (Reuters) - Major U.S. airlines oppose U.S. Transportation Department (USDOT)plans to update a government dashboard to show if carriers will voluntarily compensate passengers for lengthy delays within airlines control, a trade group told Reuters on Friday.
This is the latest effort by the department to prod the airline industry into voluntarily committing to provide compensation and other benefits to passengers impacted by flight problems. Airlines and USDOT sparred over the summer about who was to blame for tens of thousands of flight delays and cancellations.
A senior USDOT attorney involved in aviation consumer protection issues asked major airlines in emails to answer by Monday whether they will commit to providing $100, frequent flyer miles or airline travel vouchers for delays of three hours or more when delays are the fault of the airline, according to three people briefed on the matter.
USDOT also wants airlines to commit to compensating consumers for canceled flights when it results in at least a three-hour delay. The department then plans to post the results on a government dashboard it released last month, according to the sources. USDOT also asked carriers to commit to rebooking passengers on non-partner airlines.
Airlines for America, a trade group representing United Airlines UAL.O, American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N and other major carriers, said on Friday it opposed the previously unreported plan.
USDOT's "request would simply raise the cost of travel for everyone and goes beyond the scope and intent of the Dashboard by proposing punitive measures rather than offering improvements to transparency that would benefit the consumer."
The group added USDOT's approach does not acknowledge airlines' significant progress, nor the impact of weaather and air traffic control on flight elays.
There is no legal requirement for airlines to compensate U.S. passengers for delayed flights but Transportation Secretary Pete Buttigieg told airlines in August USDOT is contemplating new rules to expand passenger rights. He has faced pressure from Congress and state attorneys general to do more to ensure airlines properly treat consumers.
Asked about the planned update to the dashboard, a USDOT spokesperson said "we'll continue to have the traveling public's back and work to increase transparency so Americans know exactly what the airlines are providing when they have a cancellation or delay."
In August after USDOT said it would grade airlines on the new dashboard, major airlines updated written customer service plans to say they would provide meals for three-hour delays and hotel rooms for stranded passengers if prompted by issues under the airlines' control. Many airlines previously offered meal vouchers or hotel rooms for delays they caused but did not spell out commitments in customer service plans.
President Joe Biden last month said his administration had cracked down on U.S. airlines to improve treatment of passengers citing the dashboard -- a claim rejected by carriers.
USDOT said the dashboard got 400,000 page views over Labor Day weekend.
(Reporting by David Shepardson Editing by Chris Reese and Josie Kao)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Airlines for America, a trade group representing United Airlines UAL.O, American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N and other major carriers, said on Friday it opposed the previously unreported plan. This is the latest effort by the department to prod the airline industry into voluntarily committing to provide compensation and other benefits to passengers impacted by flight problems. USDOT's "request would simply raise the cost of travel for everyone and goes beyond the scope and intent of the Dashboard by proposing punitive measures rather than offering improvements to transparency that would benefit the consumer."
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Airlines for America, a trade group representing United Airlines UAL.O, American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N and other major carriers, said on Friday it opposed the previously unreported plan. By David Shepardson WASHINGTON, Oct 21 (Reuters) - Major U.S. airlines oppose U.S. Transportation Department (USDOT)plans to update a government dashboard to show if carriers will voluntarily compensate passengers for lengthy delays within airlines control, a trade group told Reuters on Friday. Many airlines previously offered meal vouchers or hotel rooms for delays they caused but did not spell out commitments in customer service plans.
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Airlines for America, a trade group representing United Airlines UAL.O, American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N and other major carriers, said on Friday it opposed the previously unreported plan. By David Shepardson WASHINGTON, Oct 21 (Reuters) - Major U.S. airlines oppose U.S. Transportation Department (USDOT)plans to update a government dashboard to show if carriers will voluntarily compensate passengers for lengthy delays within airlines control, a trade group told Reuters on Friday. A senior USDOT attorney involved in aviation consumer protection issues asked major airlines in emails to answer by Monday whether they will commit to providing $100, frequent flyer miles or airline travel vouchers for delays of three hours or more when delays are the fault of the airline, according to three people briefed on the matter.
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Airlines for America, a trade group representing United Airlines UAL.O, American Airlines AAL.O, Delta Air Lines DAL.N, Southwest Airlines LUV.N and other major carriers, said on Friday it opposed the previously unreported plan. By David Shepardson WASHINGTON, Oct 21 (Reuters) - Major U.S. airlines oppose U.S. Transportation Department (USDOT)plans to update a government dashboard to show if carriers will voluntarily compensate passengers for lengthy delays within airlines control, a trade group told Reuters on Friday. USDOT also wants airlines to commit to compensating consumers for canceled flights when it results in at least a three-hour delay.
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Airline Stock Roundup: Q3 Earnings Beat at AAL, ALK & UAL, SAVE in Focus
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https://www.nasdaq.com/articles/airline-stock-roundup%3A-q3-earnings-beat-at-aal-alk-ual-save-in-focus
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In the past week, sectoral heavyweights like United Airlines UAL, American Airlines AAL and Alaska Air Group ALK reported earnings for third-quarter 2022. Even though robust air-travel demand boosted the top lines of these airline operators, high-fuel costs limited bottom-line growth. Meanwhile, Spirit Airlines’ SAVE shareholders approved the merger agreement with JetBlue Airways JBLU.
Recap of the Latest Top Stories
1 United Airlines, currently carrying a Zacks Rank #2 (Buy), reported third-quarter 2022 earnings (excluding 5 cents from non-recurring items) of $2.81 per share, beating the Zacks Consensus Estimate of $2.21. Upbeat air-travel demand aided results. The third quarter of 2022 was the second consecutive profitable quarter at UAL since the onset of the pandemic.
For the fourth quarter of 2022, United Airlines expects capacity to decline around 9-10% from the fourth-quarter level of 2019. Current-year capacity is likely to be 13% less than the 2019 actuals. CASM, excluding fuel, third-party business expenses, profit-sharing and special charges, is anticipated to increase 11-12% in the September quarter from the corresponding 2019 level. The metric is anticipated to increase approximately 15% from the 2019 actuals.
United Airlines was also in the news recently when it announced the decision to add flights to Australian cities with the relaxation of COVID-related travel restrictions and the surge in air-travel demand.. The story was reported in detail in the previous week’s write-up.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
2. American Airlines’ third-quarter 2022 earnings of 69 cents per share surpassed the Zacks Consensus Estimate of 54 cents despite higher costs. In the year-ago quarter, AAL incurred a loss of 99 cents per share. The third quarter of 2022 was the second consecutive profitable quarter, excluding net special items, at AAL since the onset of the pandemic. Operating revenues of $13,462 million skyrocketed 50.1% year over year and surpassed the Zacks Consensus Estimate of $13,457.5 million. Driven by soaring demand on healthy bookings, management expects total revenues in the fourth quarter of 2022 to be roughly 11-13% higher than the level recorded in fourth-quarter 2019. Management expects total revenue per available seat mile to be 18-20% higher than the fourth-quarter 2019 actuals. AAL expects the December-quarter earnings per share (excluding net special items) in the 50-70 cents band.
3. At Alaska Air, quarterly earnings of $2.53 per share beat the Zacks Consensus Estimate of $2.41. The bottom line surged 72.1% year over year. Operating revenues of $2,828 million outperformed the Zacks Consensus Estimate of $2,827.4 million. The top line jumped 45% year over year, with passenger revenues accounting for 92.5% of the top line and soaring 47% owing to continued recovery in air-travel demand. Alaska Air expects total revenues to increase 12-15% from the fourth-quarter 2019 actuals. ALK expects capacity to decline 7-10% in the fourth quarter from the comparable period’s level in 2019. Passenger load factor (% of seats filled with passengers) is expected to be in the range of 83-86%. CASM, excluding fuel and special items, is predicted to climb 20-23% in the fourth quarter from the 2019 level. Economic fuel cost per gallon is estimated in the band of $3.50-$3.70 for the fourth quarter.
4. At its special meeting on Oct 19, Spirit Airlines’ shareholders voted in favor of its impending takeover by JetBlue. The transaction is expected to close by the first half of 2024. Per Ted Christie, president and CEO, Spirit Airlines: "This is an important step forward on our path to closing a combination that will create the most compelling national low-fare challenger to the dominant U.S. carriers. We look forward to continuing our ongoing discussions with regulators as we work toward completing the transaction and delivering value to Team Members, Guests and stockholders."
Performance
The following table shows the price movement of the major airline players over the past week and during the last six months.
Image Source: Zacks Investment Research
The table above shows that almost all airline stocks traded in the green over the five trading days. The NYSE ARCA Airline Index increased 3.2% to $53.70 in the period. Over the course of the past six months, the NYSE ARCA Airline Index plummeted 34.1%.
What's Next in the Airline Space?
The third-quarter earnings reports of other carriers are scheduled to be out in the coming days.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
United Airlines Holdings Inc (UAL): Free Stock Analysis Report
JetBlue Airways Corporation (JBLU): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
Alaska Air Group, Inc. (ALK): Free Stock Analysis Report
Spirit Airlines, Inc. (SAVE): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In the past week, sectoral heavyweights like United Airlines UAL, American Airlines AAL and Alaska Air Group ALK reported earnings for third-quarter 2022. In the year-ago quarter, AAL incurred a loss of 99 cents per share. The third quarter of 2022 was the second consecutive profitable quarter, excluding net special items, at AAL since the onset of the pandemic.
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In the past week, sectoral heavyweights like United Airlines UAL, American Airlines AAL and Alaska Air Group ALK reported earnings for third-quarter 2022. In the year-ago quarter, AAL incurred a loss of 99 cents per share. The third quarter of 2022 was the second consecutive profitable quarter, excluding net special items, at AAL since the onset of the pandemic.
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In the past week, sectoral heavyweights like United Airlines UAL, American Airlines AAL and Alaska Air Group ALK reported earnings for third-quarter 2022. In the year-ago quarter, AAL incurred a loss of 99 cents per share. The third quarter of 2022 was the second consecutive profitable quarter, excluding net special items, at AAL since the onset of the pandemic.
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In the past week, sectoral heavyweights like United Airlines UAL, American Airlines AAL and Alaska Air Group ALK reported earnings for third-quarter 2022. In the year-ago quarter, AAL incurred a loss of 99 cents per share. The third quarter of 2022 was the second consecutive profitable quarter, excluding net special items, at AAL since the onset of the pandemic.
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3150.0
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2022-10-21 00:00:00 UTC
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Air Travel Rebounds; Should You Bet on Airline Stocks?
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AAL
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https://www.nasdaq.com/articles/air-travel-rebounds-should-you-bet-on-airline-stocks
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Despite macro uncertainty and higher fares, air travel demand remains strong, leading airline companies to post stellar financials for the September-ending quarter. American Airlines (NASDAQ:AAL), United Airlines (NASDAQ:UAL), and Delta Air Lines (NYSE:DAL) reported robust sales. Further, the ongoing momentum points to a further recovery in their stock price.
Let’s take a closer look to examine what’s on the horizon for these airline stocks.
Is American Airlines a Buy now?
Despite its strong performance, analysts remain sidelined on AAL stock due to the uncertain backdrop and pilot constraints. AAL stock has a Hold consensus rating on TipRanks based on one Buy, six Hold, and two Sell recommendations. Further, analysts’ average price target of $15.11 implies 12.26% upside potential.
TipRanks’ data shows that hedge funds bought 636K AAL stock last quarter. Meanwhile, insiders sold $189.9K shares last quarter. American Airlines stock has a Neutral Smart Score of six out of 10 on TipRanks.
Nevertheless, American Airlines delivered record third-quarter revenues that increased by about 13% from the same period in 2019 (pre-pandemic time). This growth comes despite having less capacity, which is encouraging.
Its CEO, Robert Isom, stated, “Demand remains strong, and it’s clear that customers in the U.S. and other parts of the world continue to value air travel and the ability to reconnect post-pandemic.” Thanks to the strong recovery in demand, American Airlines remains upbeat and expects to pay down $15 billion of its total debt by the end of 2025.
AAL expects its Q4 revenues to be 11% to 13% higher than in the same period in 2019. Further, it projects adjusted EPS to be between $0.50 and $0.70, much higher than the consensus estimate of $0.19.
Is Delta a Buy or Sell?
Delta Air Lines stock commands a Strong Buy rating consensus in TipRanks, reflecting 10 unanimous Buy recommendations. Further, DAL’s average price target of $45.20 implies 40.59% upside potential.
Besides analysts, DAL stock has a positive signal from hedge fund managers, who bought 4.7M shares last quarter. Further, DAL stock has an Outperform “Perfect 10” Smart Score on TipRanks.
In response to its September quarter performance, Delta’s president, Glen Hauenstein, said that Q3 marked “the highest revenue and unit revenue quarter in Delta’s history.”
With strong consumer demand, DAL expects its operating revenues to increase by 5-9% in Q4. Meanwhile, its EPS is projected to be in the range of $1.00 - $1.25, compared to the Street’s expectations of $1.08.
What is the Price Target for UAL Stock?
UAL stock has an average price target of $52.78 on TipRanks, implying 35.16% upside potential. Further, United Airlines stock has received six Buy, two Hold, and one Sell recommendations for a Moderate Buy consensus rating.
Insiders bought $1.2M worth of UAL stock last quarter. However, hedge funds sold 2.5M United Airlines stock during the same period. Overall, UAL stock has Outperform Smart Score of eight out of 10.
UAL delivered stellar Q3 financials that exceeded management’s revenues and adjusted operating margin expectations. Further, UAL’s management is upbeat and expects the recovery in travel demand to sustain in Q4 and overcome recessionary pressure.
Its Q4 operating margins are expected to exceed the pre-pandemic levels. Meanwhile, analysts expect the company to remain profitable in Q4 and deliver an EPS of 1.62.
Disclosure
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Despite its strong performance, analysts remain sidelined on AAL stock due to the uncertain backdrop and pilot constraints. American Airlines (NASDAQ:AAL), United Airlines (NASDAQ:UAL), and Delta Air Lines (NYSE:DAL) reported robust sales. AAL stock has a Hold consensus rating on TipRanks based on one Buy, six Hold, and two Sell recommendations.
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American Airlines (NASDAQ:AAL), United Airlines (NASDAQ:UAL), and Delta Air Lines (NYSE:DAL) reported robust sales. Despite its strong performance, analysts remain sidelined on AAL stock due to the uncertain backdrop and pilot constraints. AAL stock has a Hold consensus rating on TipRanks based on one Buy, six Hold, and two Sell recommendations.
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American Airlines (NASDAQ:AAL), United Airlines (NASDAQ:UAL), and Delta Air Lines (NYSE:DAL) reported robust sales. Despite its strong performance, analysts remain sidelined on AAL stock due to the uncertain backdrop and pilot constraints. AAL stock has a Hold consensus rating on TipRanks based on one Buy, six Hold, and two Sell recommendations.
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American Airlines (NASDAQ:AAL), United Airlines (NASDAQ:UAL), and Delta Air Lines (NYSE:DAL) reported robust sales. Despite its strong performance, analysts remain sidelined on AAL stock due to the uncertain backdrop and pilot constraints. AAL stock has a Hold consensus rating on TipRanks based on one Buy, six Hold, and two Sell recommendations.
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3151.0
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2022-10-21 00:00:00 UTC
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Check 5 Broker-Friendly Stocks for Returns Amid Market Chaos
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AAL
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https://www.nasdaq.com/articles/check-5-broker-friendly-stocks-for-returns-amid-market-chaos
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nan
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nan
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With inflation remaining sky-high in the United States, markets have been gripped by extreme volatility this year so far. To combat the surging inflation in the country, the Fed adopted a hawkish stance. Per the latest available data, the Consumer Price Index (CPI) inflation for September 2022 was up 8.2% year over year. The core CPI (excluding volatile food and energy items) increased 6.6% year over year in September compared with 6.5% in August.
As a result of this high reading, the Fed, which has already raised its core interest rate of 3% year to date, is likely to continue its interest-raising policy. Higher interest rates flare up the cost of borrowing, thus increasing the possibility of an economic slowdown.
This gloomy scenario and the uncertain path ahead are well reflected in the double-digit year-to-date declines in the Dow Jones Industrial Average, Nasdaq composite and the S&P 500 indexes. Despite the current turmoil, turning one’s back on equities is never advisable. So what’s the way forward?
One way is to adhere to broker advice. Broker-friendly stocks like American Airlines AAL, Delta Air Lines DAL, CVR Energy CVI, Bunge Limited BG and Cardinal Health CAH are worth having a look at for healthy returns.
Why Broker Advice is the Need of the Hour
In the absence of proper guidance, individual investors may end up selecting wrong stocks for their portfolio. This might waste their hard-earned money, which they invested in the stock markets.
As brokers indulge in extensive research on stocks under their coverage, they have access to much detailed information on a company. To this end, they attend company conference calls/presentations and scrutinize every piece of document available in the public domain. After thorough research, brokers recommend (buy, sell or hold) a stock. Naturally, individual investors should avail of brokers’ handy tips while designing a winning basket of stocks.
Winning Strategy
The above write-up clearly suggests that by following broker actions, one can arrive at a winning portfolio of stocks. Keeping this in mind, we designed a screen to shortlist stocks based on improving analyst recommendations and northward revisions of earnings estimates over the last four weeks.
Also, since the price/sales ratio is a strong complementary valuation metric in the presence of analyst information, it is included. The price/sales ratio takes care of a company’s top line, making the strategy foolproof.
Screening Criteria
# (Up- Down Rating)/ Total (4 weeks) =Top #75: This gives the list of top 75 companies that have witnessed net upgrades over the last 4 weeks.
% change in Q (1) est. (4 weeks) = Top #10: This gives the top 10 stocks that have witnessed earnings estimate revisions over the past 4 weeks for the upcoming quarter.
To ensure that the strategy is a winning one, covering all bases, we added the following screening parameters:
Price-to-Sales = Bot%10: The lower the ratio the better, companies meeting this criteria are in the bottom 10% of our universe of over 7,700 stocks with respect to this ratio.
Price greater than 5: A stock trading below $5 will not likely create significant interest for most investors.
Average Daily Volume greater than 100,000 shares over the last 20 trading days: Volume has to be significant to ensure that these are easily traded.
Market value ($ mil) = Top #3000: This gives us stocks that are the top 3000 if one judges by market capitalization.
Com/ADR/Canadian= Com: This eliminates the ADR and Canadian stocks.
Here are five of the 10 stocks that passed the screen test:
American Airlines is based in Fort Worth, TX. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. However, high fuel costs are hurting the bottom line.
Over the past 60 days, the stock has seen the Zacks Consensus Estimate for 2022 earnings being revised 10.9% upward. AAL currently carries a Zacks Rank #3 (Hold).
Delta, currently carrying a Zacks Rank of 3, is based in Atlanta, GA. DAL is being bolstered by the uptick in demand for air travel (particularly for leisure). High fuel costs are, however, a bane.
Delta’s earnings outshined the Zacks Consensus Estimate in two of the last four quarters (missing the mark in the remaining two quarters). The average beat is 7.9%.
CVR Energy is an independent refiner and marketer of high-value transportation fuels. CVI is also a producer of ammonia and urea ammonia nitrate fertilizers. CVI's petroleum business includes full-coking sour crude refinery in Coffeyville, KS. Its efforts to reward its shareholders underline its strong financial position. The robust Nitrogen Fertilizer unit is supporting growth.
CVR Energy, currently carrying a Zacks Rank #2 (Buy), has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 4.30% over the past 60 days.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Bunge : Headquartered in St. Louis, MO, Bunge operates as an agribusiness firm, delivering essential food, feed and fuel across the globe. BG is reportedly the world’s leader in oilseed processing, and a leading producer and supplier of specialty plant-based oils and fats.
Bunge delivered a trailing four-quarter earnings surprise of 50.7%, on average. BG has a long-term earnings growth expectation of 6.7%. It currently carries a Zacks Rank of 3.
Cardinal Health is being well-served by its pharmaceutical segment. Its diversified product portfolio bodes well. CAH’s acquisition-driven strategy is encouraging as well.
Cardinal Health is currently Zacks #3 Ranked. The Zacks Consensus Estimate for CAH’s current-year earnings has risen 2.7% year over year from the 2021 actuals.
You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and backtest them first before taking the investment plunge.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
Click here to sign up for a free trial to the Research Wizard today.
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
Disclosure: Performance information for Zacks’ portfolios and strategies are available at: https://www.zacks.com/performance.
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
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Delta Air Lines, Inc. (DAL): Free Stock Analysis Report
Cardinal Health, Inc. (CAH): Free Stock Analysis Report
Bunge Limited (BG): Free Stock Analysis Report
CVR Energy Inc. (CVI): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Broker-friendly stocks like American Airlines AAL, Delta Air Lines DAL, CVR Energy CVI, Bunge Limited BG and Cardinal Health CAH are worth having a look at for healthy returns. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. AAL currently carries a Zacks Rank #3 (Hold).
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Broker-friendly stocks like American Airlines AAL, Delta Air Lines DAL, CVR Energy CVI, Bunge Limited BG and Cardinal Health CAH are worth having a look at for healthy returns. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. AAL currently carries a Zacks Rank #3 (Hold).
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Broker-friendly stocks like American Airlines AAL, Delta Air Lines DAL, CVR Energy CVI, Bunge Limited BG and Cardinal Health CAH are worth having a look at for healthy returns. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. AAL currently carries a Zacks Rank #3 (Hold).
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Broker-friendly stocks like American Airlines AAL, Delta Air Lines DAL, CVR Energy CVI, Bunge Limited BG and Cardinal Health CAH are worth having a look at for healthy returns. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. AAL currently carries a Zacks Rank #3 (Hold).
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3152.0
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2022-10-20 00:00:00 UTC
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Pre-Market Most Active for Oct 20, 2022 : TQQQ, SQQQ, SGFY, TSLA, AAL, T, QQQ, NIO, LI, PHG, CCL, SNAP
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AAL
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https://www.nasdaq.com/articles/pre-market-most-active-for-oct-20-2022-%3A-tqqq-sqqq-sgfy-tsla-aal-t-qqq-nio-li-phg-ccl-snap
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The NASDAQ 100 Pre-Market Indicator is down -38.22 to 11,065.16. The total Pre-Market volume is currently 45,362,604 shares traded.
The following are the most active stocks for the pre-market session:
ProShares UltraPro QQQ (TQQQ) is +0.22 at $19.76, with 9,163,876 shares traded. This represents a 21.08% increase from its 52 Week Low.
ProShares UltraPro Short QQQ (SQQQ) is -0.58 at $56.58, with 4,267,902 shares traded. This represents a 100.99% increase from its 52 Week Low.
Signify Health, Inc. (SGFY) is -0.2 at $29.00, with 2,612,847 shares traded. SGFY's current last sale is 95.08% of the target price of $30.5.
Tesla, Inc. (TSLA) is -12.64 at $209.40, with 2,520,812 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2022. The consensus EPS forecast is $1.1. TSLA's current last sale is 62.88% of the target price of $333.
American Airlines Group, Inc. (AAL) is +0.37 at $14.36, with 1,633,719 shares traded. Over the last four weeks they have had 6 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2022. The consensus EPS forecast is $0.54. Smarter Analyst Reports: American Airlines Jumps 2% on Lower-than-Feared Quarterly Loss, Revenue Beats
AT&T Inc. (T) is +0.51 at $16.05, with 1,544,987 shares traded. Smarter Analyst Reports: AT&T Posts Strong Q3 Results on Customer Growth
Invesco QQQ Trust, Series 1 (QQQ) is +1.03 at $271.52, with 1,530,419 shares traded. This represents a 6.79% increase from its 52 Week Low.
NIO Inc. (NIO) is +0.1399 at $11.06, with 964,012 shares traded., following a 52-week high recorded in prior regular session.
Li Auto Inc. (LI) is +0.57 at $17.37, with 828,075 shares traded., following a 52-week high recorded in prior regular session.
Koninklijke Philips N.V. (PHG) is +0.02 at $13.23, with 627,892 shares traded.PHG is scheduled to provide an earnings report on 10/24/2022, for the fiscal quarter ending Sep2022.
Carnival Corporation (CCL) is +0.1 at $7.78, with 593,979 shares traded. CCL's current last sale is 84.11% of the target price of $9.25.
Snap Inc. (SNAP) is +0.27 at $11.13, with 588,257 shares traded. Smarter Analyst Reports: Snap Plunges 22% After-Hours on Disappointing Q3 Results
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group, Inc. (AAL) is +0.37 at $14.36, with 1,633,719 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2022. Smarter Analyst Reports: American Airlines Jumps 2% on Lower-than-Feared Quarterly Loss, Revenue Beats
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American Airlines Group, Inc. (AAL) is +0.37 at $14.36, with 1,633,719 shares traded. Smarter Analyst Reports: American Airlines Jumps 2% on Lower-than-Feared Quarterly Loss, Revenue Beats NIO Inc. (NIO) is +0.1399 at $11.06, with 964,012 shares traded., following a 52-week high recorded in prior regular session.
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American Airlines Group, Inc. (AAL) is +0.37 at $14.36, with 1,633,719 shares traded. The total Pre-Market volume is currently 45,362,604 shares traded. AT&T Inc. (T) is +0.51 at $16.05, with 1,544,987 shares traded.
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American Airlines Group, Inc. (AAL) is +0.37 at $14.36, with 1,633,719 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2022. Over the last four weeks they have had 6 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2022.
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3153.0
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2022-10-20 00:00:00 UTC
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Initial Jobless Claims Came In Lower Than Expected
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AAL
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https://www.nasdaq.com/articles/initial-jobless-claims-came-in-lower-than-expected
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nan
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nan
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Ahead of today’s opening bell, plenty of economic and political data has hit the tape, sending moderate gains in pre-market activity notably higher at this hour. The Dow is currently trading +200 points, the S&P 500 +20 and the Nasdaq +60 points. These immediately blossomed from +160, +10 and +25 points, respectively, an hour prior to this morning’s opening bell.
The first event was the stepping down of British Prime Minister Liz Truss — the Tory who (in)famously tried to instate massive tax cuts in the U.K. as global interest rates climb aggressively. The Bank of England stepped in to backstop the subsequent tumbling pound before the administration announced a reverse-course in policy, but the dye had already been cast; Truss lasted 44 days in office. I guess the lettuce won!
Initial Jobless Claims, as we see most every Thursday morning, came in at the lowest level for a month: 214K, well off the expected 230K, and -12K from the downwardly revised 228K the previous week. We’re back down among historically robust employment levels with new weekly jobless claims this close to 200K (instead of 250K, where these numbers were headed).
Continuing Claims, reporting a week in arrears from Initial Claims, came in a bit hotter than expected: 1.385K was above the downwardly revised 1.364 million. Anything under 1.4 million is another indication of a robust labor market, and we haven’t seen that level since September. More good news for employment, even if this will help keep the Fed fastidious in its aggressive interest rate hikes for the time being.
Also, the Philly Fed survey this morning for the month of October came in lower than expected: -8.7 versus -5.0 expected, although off the -9.9 posted for September -12.3 we saw back in July. This marks the fourth lower print in the past five months on Philly Fed manufacturing; over the past 12 months, Philly Fed is averaging +9.4.
We have another big earnings day today, with American Airline (AAL) beating earnings expectations — 69 cents per share versus 54 cents expected, and nicely rebounding from the year-ago -99 cents per share — on basically in-line revenues of $13.46 billion (technically a beat by 0.03%).
Zacks Names "Single Best Pick to Double"
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock And 4 Runners Up
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American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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We have another big earnings day today, with American Airline (AAL) beating earnings expectations — 69 cents per share versus 54 cents expected, and nicely rebounding from the year-ago -99 cents per share — on basically in-line revenues of $13.46 billion (technically a beat by 0.03%). American Airlines Group Inc. (AAL): Free Stock Analysis Report Ahead of today’s opening bell, plenty of economic and political data has hit the tape, sending moderate gains in pre-market activity notably higher at this hour.
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We have another big earnings day today, with American Airline (AAL) beating earnings expectations — 69 cents per share versus 54 cents expected, and nicely rebounding from the year-ago -99 cents per share — on basically in-line revenues of $13.46 billion (technically a beat by 0.03%). American Airlines Group Inc. (AAL): Free Stock Analysis Report This marks the fourth lower print in the past five months on Philly Fed manufacturing; over the past 12 months, Philly Fed is averaging +9.4.
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We have another big earnings day today, with American Airline (AAL) beating earnings expectations — 69 cents per share versus 54 cents expected, and nicely rebounding from the year-ago -99 cents per share — on basically in-line revenues of $13.46 billion (technically a beat by 0.03%). American Airlines Group Inc. (AAL): Free Stock Analysis Report Also, the Philly Fed survey this morning for the month of October came in lower than expected: -8.7 versus -5.0 expected, although off the -9.9 posted for September -12.3 we saw back in July.
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We have another big earnings day today, with American Airline (AAL) beating earnings expectations — 69 cents per share versus 54 cents expected, and nicely rebounding from the year-ago -99 cents per share — on basically in-line revenues of $13.46 billion (technically a beat by 0.03%). American Airlines Group Inc. (AAL): Free Stock Analysis Report Want the latest recommendations from Zacks Investment Research?
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3154.0
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2022-10-20 00:00:00 UTC
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Brazil mining group sees steady investment regardless of election result
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AAL
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https://www.nasdaq.com/articles/brazil-mining-group-sees-steady-investment-regardless-of-election-result
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nan
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RIO DE JANEIRO, Oct 20 (Reuters) - Brazilian miners do not expect changes in the level of investments in the sector regardless of the outcome of the country's fast-approaching presidential runoff, a leader of top industry association Ibram said on Thursday.
Brazil, Latin America's biggest economy, is nearing the end of campaigning ahead of a second-round runoff election between leftist former President Luiz Inacio Lula da Silva and far-right incumbent Jair Bolsonaro. The final vote will take place on Oct. 30.
Lula, who governed from 2003-2010, is slightly ahead in the polls, but the gap has been while many dismiss the surveys outright since nearly all significantly underestimated Bolsonaro's support in the first-round vote earlier this month.
"The two (candidates') stances, even though they are quite different, in one we would have a certain continuity of the current policy... and in the other it would be something that has already been observed," said Julio Nery, Ibram's sustainability and regulations director.
Nery stressed he does not foresee major policy deviations on mining from either Lula or Bolsonaro.
"That's why we don't expect there to be a flight of investments due to the election," said Nery.
Ibram has previously come out against a potential proposal from Lula that would raise royalties on certain mining projects.
The Ibram association includes major miners like Vale SA VALE3.SA, Anglo American PLC AAL.L and Rio Tinto Ltd RIO.AX.
Mining companies are seen investing about $40 billion in projects in the South American country through 2026, with 10% going to social and environmental projects, according to Ibram data.
(Reporting by Marta Nogueira; Writing by Peter Frontini; Editing by David Gregorio)
((Peter.Siqueira@thomsonreuters.com; +55 11 56447727;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Ibram association includes major miners like Vale SA VALE3.SA, Anglo American PLC AAL.L and Rio Tinto Ltd RIO.AX. RIO DE JANEIRO, Oct 20 (Reuters) - Brazilian miners do not expect changes in the level of investments in the sector regardless of the outcome of the country's fast-approaching presidential runoff, a leader of top industry association Ibram said on Thursday. Brazil, Latin America's biggest economy, is nearing the end of campaigning ahead of a second-round runoff election between leftist former President Luiz Inacio Lula da Silva and far-right incumbent Jair Bolsonaro.
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The Ibram association includes major miners like Vale SA VALE3.SA, Anglo American PLC AAL.L and Rio Tinto Ltd RIO.AX. RIO DE JANEIRO, Oct 20 (Reuters) - Brazilian miners do not expect changes in the level of investments in the sector regardless of the outcome of the country's fast-approaching presidential runoff, a leader of top industry association Ibram said on Thursday. Nery stressed he does not foresee major policy deviations on mining from either Lula or Bolsonaro.
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The Ibram association includes major miners like Vale SA VALE3.SA, Anglo American PLC AAL.L and Rio Tinto Ltd RIO.AX. RIO DE JANEIRO, Oct 20 (Reuters) - Brazilian miners do not expect changes in the level of investments in the sector regardless of the outcome of the country's fast-approaching presidential runoff, a leader of top industry association Ibram said on Thursday. Brazil, Latin America's biggest economy, is nearing the end of campaigning ahead of a second-round runoff election between leftist former President Luiz Inacio Lula da Silva and far-right incumbent Jair Bolsonaro.
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The Ibram association includes major miners like Vale SA VALE3.SA, Anglo American PLC AAL.L and Rio Tinto Ltd RIO.AX. RIO DE JANEIRO, Oct 20 (Reuters) - Brazilian miners do not expect changes in the level of investments in the sector regardless of the outcome of the country's fast-approaching presidential runoff, a leader of top industry association Ibram said on Thursday. Brazil, Latin America's biggest economy, is nearing the end of campaigning ahead of a second-round runoff election between leftist former President Luiz Inacio Lula da Silva and far-right incumbent Jair Bolsonaro.
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3155.0
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2022-10-20 00:00:00 UTC
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American Airlines (AAL) Q3 Earnings Top, Air Travel Surges
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AAL
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https://www.nasdaq.com/articles/american-airlines-aal-q3-earnings-top-air-travel-surges
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American Airlines’ AAL third-quarter 2022 earnings of 69 cents per share surpassed the Zacks Consensus Estimate of 54 cents despite higher costs. In the year-ago quarter, AAL incurred a loss of 99 cents per share when air-travel demand was not as bullish as in the present scenario. The third quarter of 2022 was the second consecutive profitable quarter, excluding net special items, at AAL since the onset of the pandemic.
Operating revenues of $13,462 million skyrocketed 50.1% year over year and surpassed the Zacks Consensus Estimate of $13,457.5 million. This year-over-year jump reflects upbeat air-travel demand. Buoyant air-travel demand is also reflected by the total operating revenue increase of 13% from the third-quarter 2019 (pre-coronavirus) levels despite operating at 9.6% lower capacity.
In the September quarter, passenger revenues, accounting for the bulk of the top line (92.1%), increased to $12,396 million from $7,957 million a year ago, driven by strong air-travel demand, mainly on the domestic front. Cargo revenues decreased 15.9% to $279 million. Other revenues climbed 15.8%.
Total revenue per available seat miles (a key measure of unit revenue: TRASM) increased to 19.63 cents from 14.68 cents a year ago. Passenger revenue per available seat miles (PRASM) surged 38.8% to 18.08 cents, driven by buoyant air-travel demand. Consolidated yield increased 28%.
Reflecting the uptick in air-travel demand, consolidated traffic (measured in revenue passenger miles) rose to 58,499 million from 48,069 million a year ago. To cater to this buoyant demand, capacity (measured in average seat miles) expanded to 68,567 million from 61,111 million. Consolidated load factor (percentage of seats filled by passengers) increased 6.6 percentage points to 85.3%. Our estimate for third-quarter 2022 load factor is pegged at 86.5%.
Total operating costs (on a reported basis) surged 49.7% year over year to $12,532 million with aircraft fuel expenses and related taxes skyrocketing to $3,847 million from $1,952 million a year ago. Average fuel price per gallon (including related taxes) climbed to $3.73 from $2.07 a year ago. Consolidated operating costs per available seat mile (CASM: excluding fuel and special items) inched up 3% to 12.61 cents. Fuel gallon consumption increased 9.5% to $1,031 million in third-quarter 2022. American Airlines, currently carrying a Zacks Rank #3 (Hold), exited the quarter with $14.3 billion of total available liquidity.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Outlook
Driven by soaring demand on healthy bookings, management expects total revenues in the fourth quarter of 2022 to be roughly 11-13% higher than the level recorded in fourth-quarter 2019. Management expects TRASM to be 18-20% higher than the fourth-quarter 2019 actuals.
American Airlines expects system capacity for the December quarter to decline in the 5-7% range from the figure reported in fourth-quarter 2019. Fuel cost per gallon in fourth-quarter 2022 is expected in the $3.51-$3.56 band. Fuel gallon consumption is expected to be $990 million. AAL expects its total non-operating expense to be approximately $335 million in the December quarter.
CASM, excluding fuel and special items, is expected to increase in the 8-10% range in the fourth quarter of 2022 from the number reported in fourth-quarter 2019. AAL expects the December-quarter earnings per share (excluding net special items) in the 50-70 cents band. The Zacks Consensus Estimate is currently pegged at 18 cents.
Effective tax rate is anticipated to be 20%. Operating margin (excluding net special items) is expected in the 5.5-7.5% range in the December quarter. in the December quarter.
American Airlines expects 2022 capacity to decline 8-10% from the 2019 levels. CASM, excluding fuel and special items, is expected to increase between 11% and 13% from the 2019 actuals. AAL still anticipates paying down approximately $15 billion of total debt by the end of 2025.
A Peek Into Other Notable Airline Results
Let’s look at the third-quarter 2022 results of American Airlines’ rivals, such as Delta Air Lines DAL and United Airlines UAL.
Delta's earnings (excluding 42 cents from non-recurring items) of $1.51 per share fell short of the Zacks Consensus Estimate of $1.56. Escalated operating expenses induced the earnings miss. Multiple flight cancellations and booking weakness due to Hurricane Ian also hurt results. Delta reported revenues of $13,975 million, which lagged the Zacks Consensus Estimate of $14,157.2 million. Driven by high air-travel demand, total revenues increased more than 52% on a year-over-year basis.
United Airlines’ third-quarter 2022 earnings (excluding 5 cents from non-recurring items) of $2.81 per share beat the Zacks Consensus Estimate of $2.21.
Upbeat air-travel demand aided results. In the year-ago quarter, UAL incurred a loss of $1.02 per share when air-travel demand was not as buoyant as in the current scenario.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines’ AAL third-quarter 2022 earnings of 69 cents per share surpassed the Zacks Consensus Estimate of 54 cents despite higher costs. In the year-ago quarter, AAL incurred a loss of 99 cents per share when air-travel demand was not as bullish as in the present scenario. The third quarter of 2022 was the second consecutive profitable quarter, excluding net special items, at AAL since the onset of the pandemic.
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American Airlines’ AAL third-quarter 2022 earnings of 69 cents per share surpassed the Zacks Consensus Estimate of 54 cents despite higher costs. In the year-ago quarter, AAL incurred a loss of 99 cents per share when air-travel demand was not as bullish as in the present scenario. The third quarter of 2022 was the second consecutive profitable quarter, excluding net special items, at AAL since the onset of the pandemic.
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American Airlines’ AAL third-quarter 2022 earnings of 69 cents per share surpassed the Zacks Consensus Estimate of 54 cents despite higher costs. In the year-ago quarter, AAL incurred a loss of 99 cents per share when air-travel demand was not as bullish as in the present scenario. The third quarter of 2022 was the second consecutive profitable quarter, excluding net special items, at AAL since the onset of the pandemic.
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American Airlines’ AAL third-quarter 2022 earnings of 69 cents per share surpassed the Zacks Consensus Estimate of 54 cents despite higher costs. AAL expects its total non-operating expense to be approximately $335 million in the December quarter. In the year-ago quarter, AAL incurred a loss of 99 cents per share when air-travel demand was not as bullish as in the present scenario.
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2022-10-20 00:00:00 UTC
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American Airlines Group (AAL) Q3 2022 Earnings Call Transcript
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AAL
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https://www.nasdaq.com/articles/american-airlines-group-aal-q3-2022-earnings-call-transcript
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Image source: The Motley Fool.
American Airlines Group (NASDAQ: AAL)
Q3 2022 Earnings Call
Oct 20, 2022, 8:30 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Thank you for standing by, and welcome to American Airlines Group's third quarter 2022earnings call Today's call is being recorded. [Operator instructions] And now I'd like to turn the call over to your moderator, head of investor relations. Mr.
Scott Long. Please go ahead.
Scott Long -- Head of Investor Relations
Thanks, Latif. Good morning, everyone, and welcome to the American Airlines Group third quarter 2022earnings conference call On the call this morning, we have our CEO, Robert Isom; and our vice chair and CFO, Derek Kerr. A number of our other senior executives are also on the call for the Q&A session.
Robert will start the call this morning with an overview of the third quarter, and Derek will follow with details on the quarter and our operating plans and outlook going forward. After Derek's comments, we'll open the call for analyst questions followed by questions from the media. [Operator instructions] And before we begin today, we must state that today's call contains forward-looking statements including statements concerning future revenues, costs, forecast of capacity, and fleet plans. These statements represent our predictions and expectations of future events, but numerous risks and uncertainties could cause actual results to differ from those projected.
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Information about some of these risks and uncertainties can be found in our earnings press release that was issued this morning as well as our Form 10-Q for the quarter ended September 30, 2022. In addition, we'll be discussing certain non-GAAP financial measures this morning, which exclude the impact of unusual items. A reconciliation of those numbers to the GAAP financial measures is included in the earnings press release, which can be found in the Investor Relations section of our website. A webcast of this call will also be archived on our website.
And the information we're giving you on this call this morning is as of today's date, and we undertake no obligation to update the information subsequently. Thank you for your interest and for joining us this morning. And with that, I'll turn the call over to our CEO, Robert Isom.
Robert Isom -- Chief Executive Officer and Chief Recruitment Officer
Thanks, Scott. Good morning, everybody. Thanks for joining us. This morning, American reported a third-quarter GAAP net income of $483 million.
Excluding net special items, a third-quarter net income of $478 million. We produced revenues of $13.5 billion, which sets a new record for any quarter in the history of American Airlines. When I took on the CEO role in March, I told you American was going to do two things this year: run a reliable operation and return to profitability. It's taken us a bit longer than we would have liked to get where we want on the operations side, but we're pleased with how the airline is performing today, and we know we're on the right trajectory.
As far as profitability, we have now delivered two profitable quarters in a row and we're forecasting a profitable fourth quarter with continued strength in demand. We could not have made either of those commitments or ensure we deliver that item if it weren't for the hard work of the American Airlines team. They do a phenomenal job every day taking care of our customers and each other. Their teamwork, resiliency, and determination allow us to continue our focus of running a reliable operation and sustaining profitability.
We keep that focus because in our business, reliability is everything. It's the foundation of the service we provide our customers. A predictable solid operation changes the entire work experience of our team. Reliability also enables our long-term profitability and achieving sustained profitability is how we will meet our debt reduction targets and continue to invest in our team and deliver the network products and services our customers want.
With that in mind, let's talk more about the third quarter specifically. Our record quarterly revenue of $13.5 billion is a 13% increase over 2019. Notably, we achieved this record revenue while flying nearly 10% less capacity than we did in the third quarter of 2019. And we're pleased to have exceeded our initial guidance on both revenue and pre-tax margin in the third quarter despite constraints still facing American and the rest of the industry.
America's third quarter results, including our record revenue performance are significant, considering their macroeconomic uncertainty facing so many people. Demand remains strong, and it's clear that our customers in the U.S. and other parts of the world continue to value air travel and the ability to reconnect post pandemic. Importantly, many of the demand trends we saw emerge during the pandemic are becoming more consistent and shaping our commercial focus for 2023 and beyond.
Leisure and business revenue remain incredibly strong, again, surpassing 2019 levels in the third quarter. Demand for small- and medium-sized businesses and customers traveling for a combination of business and leisure continue to outpace the recovery of managed corporate travel. As that revenue continues to build, it will be additive to an already strong base of business demand, led by small and medium business and blended trips. That as well as the return of long-haul international travel leaves us very bullish about overall demand even in an uncertain economic environment.
The changing nature demand provides an opportunity to rework our commercial offerings to better meet the needs of our customers and create a more resilient and profitable business. We continue to develop the most comprehensive airline network in the world. As we have shared on previous calls, over the past few years, we have made the decision to greatly simplify our fleet and network focusing on our flying on where we can create outsized customer value and working with our partners to create choices and value in areas where it's cost prohibitive to do so ourselves. This means prioritizing the flying that can best generate a return today, not bringing back flying it was only marginally profitable before the pandemic or that we had hoped would one day generate a return.
It also means using our partners to fill in the gaps and deliver a seamless network to our customers. That work continues, particularly with our Northeast alliance with JetBlue, our West Coast international alliance with Alaska and our Atlantic and Pacific joint businesses. To better match our product offering to customers and network, we recently announced in [Inaudible] our long-haul fleet that will give American an unrivaled premium experience among U.S. carriers.
Starting in 2024, customers will see new flagship suite seats on our Boeing 777-300ER aircraft as well as on our new Boeing 787-9 and Airbus A321 XLR deliveries. With these new interiors, premium seating on our long-haul aircraft will grow by more than 45% by 2026. We're working to give our customers better choices and more access to the world's largest and best travel rewards program, and that's AAdvantage. It's clear that customers want more when they shop for travel, more choices on ways to earn and use miles and more incentives to earn miles even when they don't travel.
So turning to our operations. As I mentioned at the asset, operating reliably is critical to everything we do. We have the youngest fleet and the best network and partners in the industry, but we can't take full advantage of those assets if we aren't running reliably. That's why we continue to invest in our operations with additional resources and new technology, and those efforts are paying off.
Despite a challenging operating environment with hurricanes in Florida and Caribbean, and flooding in Dallas Fort Worth region, we restored our operating reliability to pre-pandemic levels in the third quarter. And we did it while flying a schedule that was 25% larger than our closest competitor. We have delivered record on-time arrival rate and completion factor so far in October and expect to carry that momentum through the upcoming holiday season and beyond. Hurricane Fiona and Ian were devastating for so many, including the communities we serve in the places our team and customers call home.
The American Airlines team stepped up in amazing ways to take care of our customers and each other during the very challenging circumstances. Through our AAdvantage program and the partnership with the Red Cross, almost $4 million has been raised to support victims of the storms, and American continues to support our team through the American Airlines Family Fund. The storms moved through quickly, but they had an outsized impact on American given the size of our operation in Florida. We had to cancel more than 1,500 flights the last four days of September, given the impact of Hurricane Ian.
We estimate right now that these storms reduced revenue by about $40 million. As we close out the year and look to the first quarter, we continue to size the airline for the resources we have available and the operating conditions we face. This approach and our strong operational performance in September and so far in October give us a lot of confidence as we head into the busy travel holiday season. In closing, we remain very encouraged by the continued strength in demand and the trends we're seeing across the business.
American has the best team and most efficient assets in the industry, and we have built an airline that can be successful in many different demand and economic environments. Looking ahead, we're focused on investing in our operations, our network and our partnerships to ensure we can continue to deliver for our customers. And of course, we'll do so while remaining focused on achieving sustained profitability and reducing our debt. And with that, I'll hand it over to Derek.
Derek Kerr -- Vice Chairman, Chief Financial Officer
Thank you, Robert, and good morning, everyone. I want to start by thanking the American Airlines team for their efforts during the third quarter. Our airline success during the quarter was only possible because of the hard work of our team during a challenging summer. This morning, we reported a third-quarter GAAP net income of $483 million, excluding net special items, we reported a net income of $478 million, both equate to earnings of $0.69 per diluted share.
Since the beginning of the year, we have been focused on returning the airline to sustained profitability. We are pleased that our third quarter results build on that progress we made in the second quarter. We beat the high end of our initial earnings expectations due to the continuation of the strong demand environment. The third quarter was our highest quarterly revenue in company history, beating the second quarter of this year.
The domestic and short-haul international entities continue to lead the revenue recovery, and we expect further improvement in long-haul international as we continue to grow back our capacity. The investments we have made to renew and simplify our fleet position us well for the future. We continue to operate the youngest, most fuel-efficient fleet among U.S. network carriers.
In August, we began taking deliveries of new 788 aircraft from Boeing for the first time in 15 months. In the third quarter, we took delivery of four 788s, and we expect to receive five for the remainder of this year and four in the first half of 2023. Our Boeing 789s are still expected to be delivered starting in 2024. During the quarter, we also took delivery of 3 A321neos and reactivated 6 7378 from long-term storage.
In the fourth quarter, we now expect to take delivery of eight A320neos, three E175, in addition to the 5788 I mentioned previously. Based on our latest guidance from Boeing, we now expect to take delivery of 19737 MAX 8 in 2023 compared to the 27 deliveries that we were previously expected. This change in timing will shift planned capex out of 2023 into future years. Our 2023 aircraft capex net of leases is now expected to be $1.6 billion.
We ended the third quarter with $14.3 billion of total available liquidity, which is $700 million higher than our initial third-quarter forecast due to continued forward booking strength seen throughout the quarter. This level of liquidity is more than double the amount we had at the year end of 2019. Reducing total debt continues to be a top priority, and we remain on track with our target of reducing overall debt levels by $15 billion by the end of 2025. As of the end of the third quarter, we have reduced total debt by $5.6 billion versus the 2021 peak.
And as I mentioned last quarter, we expect further benefit from a reduction in our pension liability that will make -- reflected at the end of the year. In the fourth quarter, we expect to make approximately $540 million of scheduled debt and finance lease payments freeing up additional collateral in the process. We maintained our elevated liquidity position throughout the third quarter and continue to balance appropriate target liquidity levels with the expected recovery, debt reduction opportunities and investment in the business. We'll continue to target $10 billion to $12 billion in total liquidity in the medium term and intend to utilize excess liquidity above that level to accelerate our deleveraging initiative at the appropriate time.
Looking forward, our next term loan maturity is our $1.2 billion term loan, which does not mature until December of 2023. Looking to the fourth quarter, we expect to produce an operating margin of between 7.5% -- 5.5% and 7.5% based on the current demand and fuel price forecast. We currently expect to produce total revenues that are 11% to 13% higher than the fourth quarter of 2019 on capacity that is 5% to 7% lower than 2019 levels. This continued strength in demand is expected to result in total revenue per available seat mile that is 18% to 20% higher than 2019.
Our fourth quarter CASM, excluding fuel and net special items, is expected to be up between 8% and 10% compared to 2019. These higher unit costs versus 2019 are primarily driven by inflationary pressure and lower relative asset utilization. Our current forecast for the fourth quarter assumes fuel between $3.51 and $3.56, which is approximately 70% higher than 2019 levels. Finally, while we are still in the process of building our 2023 operating plans, I'd like to share a few thoughts on our approach.
We continue to believe that 2023 demand for air travel will be robust. We currently see no signs of demand slowing as we move into the new year. But as always, we will continue to keep a close eye on the macroeconomic environment and will adjust as plans, if necessary. Importantly, we will continue to size the airline for the resources we have with a focus on reliability and profitability.
As we move into 2023, the constraints facing our business today will remain. Those constraints are slower than planned aircraft deliveries and lower utilization of our fleet largely driven by regional pilot constraints. Therefore, based on our preliminary plans, we expect our 2023 capacity will be between 95% and 100% of 2019 levels. We believe this approach to capacity will produce strong profitability and free cash flow reliable operating performance and allow appropriate levels of flexibility in this very fluid environment.
In conclusion, demand for our product is strong and we remain nimble in our planning and execution to ensure we optimize for the environment we are operating in. As we close out 2022 and move into 2023, we're confident in our ability to continue to deliver on our stated objectives of operational reliability and sustained profitability because of our world-class network, efficient fleet, and incredible team. With that, I will open up the line for analyst questions.
Questions & Answers:
Operator
[Operator instructions] Our first question comes from the line of David Vernon of Bernstein.
David Vernon -- AllianceBernstein -- Analyst
I was wondering maybe if you could talk a little bit about how the fleet changes you guys have made through the pandemic are sort of impacting operational performance. Obviously, it's going to have an impact on reliability. But also when you think about sort of scheduling the network, maybe getting better utilization, maybe taking some peaks out of the schedule being unconstrained by the directionality of some of the equipment constraints that are in there. Can you just talk a little bit about how those fleet changes have impacted overall productivity and the early signs there?
Robert Isom -- Chief Executive Officer and Chief Recruitment Officer
David, thanks for the question, too. And we're really proud of what we were able to do over the pandemic. A bunch of different projects went into place. You know the story about rationalizing the fleet, getting down really from a mainline perspective, down to two types of narrow bodies and two types of wide bodies.
We did the same thing in our regional fleet as well. But during the pandemic as well, we accelerated our cabin consistency project that was a project where we were able to upsize the 737 and then also make sure that our A320 family were consistent in terms of seating as well. All that work is done. So it's freed up a tremendous amount of resources.
But then just in terms of operating, think about everything from not having to carry as many park pools in inventory. Think about pilot training and what's required from going from an FO on one equipment type to another and the simulators that are required for that, the training that's required for that. So look, as we get back to full utilization of our resources that's going to be something that I think pays dividends. You'll start to see it as we get back really to full utilization.
And I think that that's something that plays well long into the future. We see it already. I know it's producing better reliability. It's easier for our team.
And from a revenue perspective, I'll hand it off to Vasu. I can tell you it's making his job easier.
Vasu Raja -- Senior Vice President, Chief Commercial Officer
Yes. I'll pick up right there, David. I think it's a great question. As we went through the pandemic, a major principle in how we've been planning the airline is to build it in a way where it is as nimble and responsive to demand and is resilient base crisis.
And as you look at that over time, really the wide-body fleet for American Airlines was a strange kind of liability because that's the most volatile part of our business. It's part of our business that our customers have just valued a lot less than our short-haul network. And so for us, as you look out there, we took jets out. And so look at the fourth quarter schedule, we are 15% smaller long-haul airline.
But very importantly, what we've also done right is when we have such a big fleet of narrowbodies, we have a lot more flexibility in how we send them. So we've changed our capacity mix pretty materially from pre-pandemic. As we were entering the fourth quarter in 2019, we were about a 70-30 short-haul, long-haul airline. As we enter the fourth quarter now, we're something a lot closer to an 80-20 short-haul, long-haul airline.
And that airline that we have is something which is a lot more dynamic. There's fewer fleet types like Robert said, if demand changes, we're much more able to adjust. And quite frankly, the short-haul business is and has been for the last 20 years, a much more durable part of it. And frankly, you see it right now.
Right now, long haul is doing well. At some point in time, it will come down, but short haul remains pretty consistently strong across the business cycle.
David Vernon -- AllianceBernstein -- Analyst
And as you think about that plan to get back to 95% to 100% next year, is that going to get you the full benefit of utilizing the new fleet? Or are we still going to be carrying some additional sort of productivity headwinds from training or resourcing or just underutilization from an hours per aircraft per day kind of thing.
Robert Isom -- Chief Executive Officer and Chief Recruitment Officer
David, I'll start. Derek can chime in here, too. It's a good question, but we look at it as upside for the airline. We know that we can find more out of the assets that we have.
There are constraints out there, notably pilot constraints, both for the regional side and just the massive amount of training that we have to do on the mainline side. Those constraints are going to be out there. Over time, they'll break free. But we're confident that we can actually get more utilization out of the current fleet to actually get us beyond flying at 100% of 2019 levels.
And that's where I think the cost story as the airline gets really interesting. But it's going to take a little bit of time to get to that point.
Operator
Our next question comes from the line of Savi Syth of Raymond James.
Savi Syth -- Raymond James -- Analyst
Could you please talk about a little bit more on the hiring and kind of training side on the mainline, where you are on that and kind of expectations as you head into 2023?
Robert Isom -- Chief Executive Officer and Chief Recruitment Officer
Sure, Savi. I appreciate the question. Look, we're hiring more pilots this year than we ever have in our history in a given year. So we're looking at hiring almost 2,000 pilots.
We're on track to actually accomplish that from a mainline perspective. So I feel really great about that. But let's face it. Training that many pilots is something we've never done before coming out of the pandemic.
We've had to make sure that resources are all in the right spot whether that's additional simulators, resources like that or even things like instructors. So that's all working its way through, and we feel very confident that over time, that our pilot pipeline for the mainline is very strong and our training resources are absolutely going to match the needs that we have going forward. The regional side of the business is a little bit different. We didn't hire and let's face it, well, we didn't hire for two years during the pandemic at all.
And then not only that, people didn't come into the business. And so we've got to work our way through that. And you got a supply issue that I think is coming back online. I feel really confident about it.
We're facilitating that through things like our cadet program and creating financing vehicles for people that want to get into the business. That's all going well. But then the other issue is what's your run short, you actually have issues of getting kind of pilots from the right seat to the left seat and there are hours requirements that have to -- that you have to fulfill. We're working our way through that.
That's going to take a little bit longer by opinion. That's maybe two, three years to work out versus the mainline side, which I think is something from a training perspective, we really get fully caught up over the course of the next year.
Savi Syth -- Raymond James -- Analyst
That's helpful. If I might, just following up on that. So I appreciate the kind of the thoughts on where capacity could be next year. Any way you could help us think about the cost side of things and how much of the headwinds that you're seeing today, we might see kind of go away as you kind of get through next year?
Derek Kerr -- Vice Chairman, Chief Financial Officer
Well, Savi, I mean we're still going through our planning process. So we gave the guide for the ASMs, but we're not ready to guide costs yet. We will in the January call. We're working through our budget.
We're in that today. So the CASM will depend on what we fly, but we will go through that on the January call.
Operator
Our next question comes from the line of Jamie Baker of J.P. Morgan.
Jamie Baker -- JPMorgan Chase and Company -- Analyst
Two quick questions for Derek and then a follow-up for Vasu. Derek, why the pivot from pre-tax to operating margin guidance? And second, what's the increase in interest expense year on year at the current forward curve for your floating rate debt?
Derek Kerr -- Vice Chairman, Chief Financial Officer
OK. Just no reason for the pivot. I mean we're just -- could be inconsistent with the rest of the airlines from an operating perspective. That's what we're focusing on.
And then on the interest rate, I mean, our cost of debt has gone probably from about 4% to 5% and our fixed floating is 70-30. So as we look into next year, our interest expense is -- this quarter was around $494 million. So that go up in the fourth quarter to about $530 million. So it's probably about $40 million from the third to fourth quarter on an interest expense basis.
But that's totally offset right now with the cash levels we have on interest income. So it was offset in the third quarter interest income depends on where cash is in the fourth quarter. And you can see that our guide for non-op is pretty even quarter over quarter.
Jamie Baker -- JPMorgan Chase and Company -- Analyst
Yes. OK. That's why -- I appreciate that. So Vasu, as I continue to think through how American needs to adapt to new travel patterns.
And look, maybe you don't aside from just shifting some capacity to certain days of the week, maybe Thanksgiving return peak shifts a bit. But I keep thinking there's more that can be done fair fences, promotions, advantage. Just to better capture these new travel patterns out there or is it just as simple as adjusting the day-ality of schedules? Not sure if day-ality is an American term, but I trust you know what I mean.
Vasu Raja -- Senior Vice President, Chief Commercial Officer
I think you just made a term, Jamie. That's fine. Keep going.
Jamie Baker -- JPMorgan Chase and Company -- Analyst
Well, we use it at Air Mike. But that was a long time ago. Just really wondering if there's more than just pure scheduling nuances to best monetizing all these new travel patterns that are emerging, certainly much to my personal post-COVID surprise?
Vasu Raja -- Senior Vice President, Chief Commercial Officer
Yes. That's a great question, Jamie. And let me start with just some context setting for just how indeed the world has changed. First of all, we are, in general, really encouraged by what is happening with aggregate demand.
As we say, the demand for travel and for air travel, in particular, has never been higher and remains strong in the kind of all future periods. But the shape of that, the composition has changed a lot. Now we're in a place for the quarter where 45% of our revenue came from blended trips, about 30% from discretionary or what we historically called leisure trip. And the remaining 25% from nondiscretionary that we've historically called business trips.
Importantly, within business, about 17 to 20 points of that is coming actually from noncontracted unmanaged businesses. The remaining kind of five to eight points are from contracted corporations. That's meaningfully small, call it, four, five points smaller than historic. And that is the thing that is actually really encouraging for us for a couple of reasons that that big category of blended demand, which is growing.
First and foremost, that unmanaged business is coming in at yield values where their gross yields are similar to the corporate contracted transactions that are not there. But very importantly, they're net yields, not of their cost of sale is actually very often higher than what we spilled off. But two, and kind of more directly related to your question, what we find is that indeed, this blended demand uses our airline network in a very economical way. Almost half of that demand is using O&D markets in our system where American's network is uniquely advantaged.
But additionally, we've seen across our system, not just for blended demand, two points of traffic shift from what we'll call the peak business periods in the day. That's pre-0800 and post 1600 and into the body of the day, the 800 to 1600 window. So if you think about that, historically, we've done a lot to kind of peak our schedules for the ends of the day, but now we're seeing a lot of really high-yielding demand in the places where it's most economical to frankly go and run the airline. And that takes me to the third point, which is where you're starting to go.
But as we start to contract, and we've done a lot of this, when you don't look at the transaction, look at the customer behind it, what we're finding is that a customer who has a blended trip in their profile is twice as likely to go and enroll in the Advantage program. They are three times more likely to sign up for one of our co-branded credit cards, they don't already have it. Those who have a credit card spend 40% more than a typical business customer. And these customers are overwhelmingly going to aa.com because it's frankly the only place where you can go and price and shop for a blended trip.
So that is very much influencing how we're thinking in a couple of meaningful ways, as you say, that first and foremost, the value that we can deliver to these customers through our loyalty program, as we call them, our currency partnerships with people such as Citi are paramount importance to our customers, and therefore, to us. And then there's a lot about the selling and distribution model that the airlines have operated on certainly that we've operated under that warrant some change that we can go in certain customer demand.
Jamie Baker -- JPMorgan Chase and Company -- Analyst
That's super helpful. My risk is acing the right thing down at both the type and I hadn't thought about the loyalty angle. I appreciate it.
Operator
Our next question comes from the line of Duane Pfennigwerth of Evercore ISI.
Duane Pfennigwerth -- Evercore ISI -- Analyst
And my compliments on that pronunciation, better than many earnings calls. On the $95 million to $100 million for next year, I wanted to ask you how that might compare to a theoretical upper limit. How much of this is conservatism just given fuel and kind of macro uncertainty versus just your modeling of the staffing constraints. So if you really wanted to step on the gas, if the environment warranted, how much higher could you push than that 100%?
Robert Isom -- Chief Executive Officer and Chief Recruitment Officer
Duane, thanks for the question. Look, for us right now, we're going to size the airline for the resources that we have and the demand environment that we face. There's a lot of variability in just about everything that we deal with right now. But the thing that I think that Vasu will tell you, Derek, and our finance team will tell you, the best thing we could do is make sure that we have a predictable, stable airline, something that we can point to in the future.
That's what we're trying to do, given all the constraints that we face right now. So from the perspective of what is a limiting factor, probably try to fly a little bit more, you know what, we've got pilot constraints that are going to take a while to work their way through. Notably, we talked about what's happening on the regional side of things. So in terms of an upper bound, I don't have a number there.
I don't know if we've actually gone out and calculated the max level.
Derek Kerr -- Vice Chairman, Chief Financial Officer
No. I think, Duane, as we talked about on the last call, we do have some unsupportable aircraft at this point in time. as things change on the regional side, it's all dependent on pilot hiring and how much the main line hired from the regionals. And so we're trying to be prudent in what we do as we saw in the summer, making some of those kinds of assumptions was not easy.
So I think we're being prudent on it. If there is more capability for us to fly from a regional perspective and a mainline perspective, because those constraints come down, then we'll be able to -- we could fly more with the fleet that we have, put it that way. So is that a couple of percent Probably. If we flew the whole thing, we could get somewhere in the 5% to 10% range from the fleet that we have.
But I think those constraints are going to be there. As Robert said, the regional constraints are going to be there for a longer period of time. We're working through them, and hopefully, there's other options that we have to bring that flying back up.
Duane Pfennigwerth -- Evercore ISI -- Analyst
That's helpful perspective. And then just for a quick follow-up on ops. Can you quantify the savings or the assumed savings from running a better operation in your 4Q guide? And it's an American question, frankly, it's an industry question. What have we learned or institutionalized from this summer that gives you confidence that sort of these better ops will sustain? Maybe in fourth quarter, frankly, it's less peak.
It's fewer ASMs, maybe that's the driver and the confidence. But if you can help us understand what's been institutionalized from this summer. That would be helpful.
Robert Isom -- Chief Executive Officer and Chief Recruitment Officer
Yes. Duane, that's something we talk a lot about. And look, we talk about utilization and getting more out of it, but there's always an offset to that utilization with running an airline that is potentially less reliable. So what we've done right now is we've taken a look at and given that the pandemic brought so much variability in just about every input to the business, OK? Everything from partners, at airports to aerospace limitations to Boeing and Airbus, delivering aircraft, our pilots, and flight attendants.
What we're trying to do is build in at least a little buffer in a number of areas right now. And that is absolutely something that we're carrying on into the fourth quarter. Where does it show up? It shows up in higher reserve levels for pilots and flight attendants. Or does it show up? It shows up in terms of maybe not running even some of the aircraft that we have is hardest hard as you would.
It shows up in terms of making sure that we're trying to take into account restrictions that we have in the airports and with aerospace as well. So we're putting that all in. My hope is that as the airline gets up to speed and our other partners and vendors get up to speed, but that's something that we can slowly take a look at. But to the point that you brought up, this airline, American Airlines, the industry as a whole, we need to get back to reliability levels that we have pre pandemic and even higher.
That's the focus, and you're going to see us success in that, whether it's through putting in degrees of safety factor and things or just making sure that we fly the outer line appropriate for demand and operating conditions.
Operator
Our next question comes from the line of Michael Linenberg of Deutsche Bank.
Michael Linenberg -- Deutsche Bank -- Analyst
I want to kind of touch on this as sort of a follow-on on Jamie's question about sort of structural change here. And I don't know if it's to Robert or Vasu. Robert, you talked about 45% more premium seating in your fleet. And when I look at some of the numbers, you can correct me if I'm wrong, but it looks like you're like 7879, the premium seats are going to go up by 60%.
And when I look at where you will be on an absolute basis post this new product rollout, you'll be pretty well ahead of United and Delta. And I'm just -- it feels like it's a bit of a bet and it is maybe more of a secular shift to have that much premium seating. And I'm just -- I'm thinking what is the potential downside risk, sort of how you think about that? And it also looks like, I guess, we're going to see the retirement of the first class on the 777s. Is that right?
Robert Isom -- Chief Executive Officer and Chief Recruitment Officer
Yes. Vasu, go ahead to start this one.
Vasu Raja -- Senior Vice President, Chief Commercial Officer
Yes. Mike, thanks for the question. It's a very good one. I'll answer your second one first.
Yes, the first class will not exist on the 777 or for that matter, at American Airlines for the simple reason that our customers aren't buying it. The quality of the business class C has improved so much. And frankly, by removing it, we can go provide more business class seats, which is what our customers most want or most willing to pay for. But look, a really important thing to your first question, starts actually with the structure of the network that's here now versus what was their pre-pandemic.
And though we've talked about it on a lot of calls, it probably can't be emphasized enough. And it's something which you can see through all the successive schedules -- on the quarterly schedules through COVID and even into what we published through the rest of this year and early next. But again, remember, for us, we're running a long-haul business now that is 15% smaller than what existed pre-COVID. And furthermore, of that, about 70-ish percent of our -- presume we're an 80-20 short-haul, long-haul split.
But for us, very importantly, 70% of our capacity almost 70% is in our core hubs. What's not there is really in some really strong international markets that are very premium-heavy. Heathrow long-haul South America, eventually Tokyo, places like that or else in really long-haul markets where, frankly, through the strength of our partnerships, we're able to go and make a larger premium cabin work. So because of that, we -- the airline has actually arced itself to a place where there's a lot more demand for its premium seats.
The last thing I'll say and this actually picks up right where my answer to Jamie left off, too. And what we're really encouraged by right now is actually long-haul profitability for American Airlines is better than what has historically been pre 2019 on a margin basis, in some cases, on an absolute basis. What it's being driven by is not just the premium cabin. But interestingly, it's being driven by blended customer demand there.
I mean it used to be that large contract in corporations were as much as 50% of what filled those seats. Now between 40% and 50% of it is blended demand, and the rest of it is actually leisure demand that is willing to go and pay more for the quality of the business class seat. All of that is coming at a higher net yield values than what was there before. So we're really encouraged about what the future holds.
And that's a lot of the context behind some of these bets we're making with the long-haul configuration.
Michael Linenberg -- Deutsche Bank -- Analyst
Very helpful, Vasu. If I can just sneak in one other one. And just on the regional side. You guys seem to be doubling down on adding more regional service, including 50 seaters.
And I know in the past, you've talked about how that historically has been -- those markets have been fairly high yield. But how does that square with just the rising costs that we're seeing on regional labor, other input costs for the regionals? And is maybe the offset that you have this sort of unique from a network perspective, you among all the carriers may be the only game in town in so many of these markets that you're still able to make it up in revenue. How do you square that?
Robert Isom -- Chief Executive Officer and Chief Recruitment Officer
Vasu, let me start and then you jump in. First off, look, just in terms of the 50 seaters that we have, we've reduced the number of 50-seaters that we've had in place over time. I don't have the exact number hand. But what we have is a network that's ideally suited for servicing a number of regional markets.
And you know what, 50 seaters is going to have in place in our system. But right now, the big focus is getting the aircraft that we have back up in the air. There's not a doubling count it say, "Hey, this made sense before. It makes a lot of sense now.
Especially given what we're seeing with the rest of the marketplace." Vasu, go ahead.
Vasu Raja -- Senior Vice President, Chief Commercial Officer
Yes, that's right. I'll add a couple of doses of back to that too especially that I was really encouraged by is when we crossed over from the summer into September, which is historically a weaker demand time for the airlines. What we found is that historically, in, let's call it, September of 2019, only about 20% to 25% of our revenue was coming from places where our O&D markets where our network was advantaged. When we got in September of this year, it was somewhere between 30% to 33% coming from places where our network was advantaged.
And indeed, we see this over and over again, that we make 30% more O&Ds than our competitors, 30% more O&Ds and markets that where we consider them to be advantaged. And by that, I mean either O&Ds, we're the only ones who serve it or we serve it with the most convenient schedule. And so for us, we see that very much. I mean, the way our network is just structurally built we are the very best at serving all of the small cities of the Western Hemisphere and connecting customers there to the global marketplace.
Others are a whole lot better at flying long haul to Asia, or whatever the case might be. But for that reason, there are some really unique things to American Airlines, where we have a lot of value in a range of equipment types from the smallest 50- or 75-seat RJs to a 200-seat narrow-body, whereas for a lot of others, a lot more of their value may be and having multiple flavors of a 300 feet wide line.
Robert Isom -- Chief Executive Officer and Chief Recruitment Officer
Go ahead, Derek.
Derek Kerr -- Vice Chairman, Chief Financial Officer
Mike, the only thing I was going to add is we have three wholly owns, Piedmont is going to fly 50, 50 seaters. That's what they have today. We're growing those back for sure. In boys getting out of the 50 seaters over time, we'll fly some next year.
They're going to move. But I know you're referring probably to the Air Wisconsin transaction. in a market where there's difficulty in pilot supply, Air Wisconsin has a great network. We've worked with them before.
They have a very good pilot supply and comply out of Chicago. And so I think it's an opportunistic transaction to do that in an environment where there's a pilot constraint on the regional side.
Operator
Our next question comes from the line of Conor Cunningham of Melius Research.
Conor Cunningham -- Melius Research -- Analyst
Just on Savi's question from a hiring standpoint. I don't think you actually gave a number on 2023. Is there a stated goal from a pilot standpoint. The only reason why I asked as your headcount, I think, is down 2%, you're talking about capacity being flat to down 5%.
So basically, you're there from a hiring from an employee standpoint. So I'm just trying to figure out what we're talking about until into next year.
Robert Isom -- Chief Executive Officer and Chief Recruitment Officer
Derek, go ahead.
Derek Kerr -- Vice Chairman, Chief Financial Officer
Yes. I think, Conor, we're going to have the schoolhouse pull all next year. So my assumption is if we hired 2,000 this year, we'll be hiring the same amount next year as we bring back the mainline fleet. So I would expect the school has to be full and us to train as about as many pilots in 2023 as we are in 2022.
Robert Isom -- Chief Executive Officer and Chief Recruitment Officer
And, Conor, I'd just add that some of that as well. We still have considerable retirements due to age 65. We're at the peak levels. So while we're hiring 2,000, it doesn't mean that there's a net incremental of 2,000 pilots by any means.
Derek Kerr -- Vice Chairman, Chief Financial Officer
Yes, I think we retired somewhere in the neighborhood of 700, 750 pilots next year. So a lot of that's retirement.
Conor Cunningham -- Melius Research -- Analyst
OK. And then the progress being made on profitability is obviously great to see. But I think the question a lot of folks have is just around profitability with new labor deals. I'm not trying to get you guys to cost me that publicly, but just how do you think about profitability into '23? Is it just more of like the demand picture is just so much better that we can absorb a lot of the pilot pay increases or labor deals and all that stuff? Just any high-level thoughts that you may have, that would be great.
Robert Isom -- Chief Executive Officer and Chief Recruitment Officer
Well, I'll start like certainly, anything that we do with our pilots or flight attendants or any of the other team members that we're currently negotiating with, we negotiate with a mine to making sure we take care of our team that we take of the company as well. When we think about the deals that we have, we're going to make sure that they fit with an economic perspective of making money. And I'm confident we can do that. And it's the best interest of our pilots and flight attendance and mechanics and everybody in this company.
So there's win-win deals that will be had out there. I'm confident that we can do it. And it's in an environment where, yes -- we take a look at travel coming back, being something that just in terms of where people want to spend money is a change from prior to the pandemic. We take a look at the amount of growth that the general economy has had and yet the airline business is still -- American Airlines 10% smaller.
And then on top of that, we know that travel is a bargain still general inflation is running about 5% and ticket prices are up since 2019, about 3% -- or less than 3% on an annual basis. So I look at all that and think that the kind of momentum that we have experienced in the third and fourth quarter carry in. And certainly, they're offsetting costs that are built in, in terms of redundancies that we have in place. But as we get the fleet back up and as Derek mentioned a little bit earlier, it may take us a while to get the regionals back up and maybe through 2023 to get the mainline fully back up as well.
But we will have efficiencies that come with up-gauging that we did -- we've done and will come with the incremental utilization that we can get out of our aircraft -- and quite frankly, some of the things that Vasu's talked about in terms of network, in terms of marketing and then also in terms of engaging our customers in a way that they will pay us for things like credit cards. The relationship is deepening. So on all those fronts, I feel really confident that we can put together an airline that can cover increased labor expenses and still make margins that we think are appropriate positive for the airline.
Operator
Our next question comes from the line of Helane Becker of Cowen.
Robert Isom -- Chief Executive Officer and Chief Recruitment Officer
Helane?
Helane Becker -- Cowen and Company -- Analyst
Can you hear me now?
Robert Isom -- Chief Executive Officer and Chief Recruitment Officer
Yes. We can hear you now.
Helane Becker -- Cowen and Company -- Analyst
I'm not sure exactly what happened there because I was not on mute. So one question for clarification. What's the paid load factor in business versus upgrades in business class?
Vasu Raja -- Senior Vice President, Chief Commercial Officer
Helane, this is Vasu. Look, off the top of my head, I don't know well enough to go and tell you, but I will say this that our payloads in business are growing as a percentage of what they've been historically, but it changed a lot between July and September, as being shifted over. But a major part for that simply changes that we've made with our upgrade program that we used to have a lot of different, what I'll call cottage upgrade concepts that could be had through different certificates through our loyalty program, do things like that. We've been trying to go and simplify that for our customers, digitize a whole lot more of it and frankly, offer more fair products to customers.
So we're now getting to a place where it's probably our lowest of time as little as 60% could have been paid. Now we're in a place where, indeed, like in the domestic system, something closer to 80 or so.
Helane Becker -- Cowen and Company -- Analyst
OK. That's very helpful. And then if I could follow up a question on the aircraft deliveries and the schedule. So, Derek, you talked about the under on the number of aircraft you actually have on for delivery schedule for next year.
So how are you scheduling the airline? Are you assuming, I suppose, a lower level of deliveries? Or could you just walk me through how you plan the network, not knowing how many aircraft you're actually going to have available to fly?
Derek Kerr -- Vice Chairman, Chief Financial Officer
Yes. I think as we look into 2023, we didn't have a lot of deliveries anyway. We probably had 32 deliveries. What we've done is we know the four 788s are coming in.
We know what those dates are, so we can plan that. And the one neo coming in, we know that. The MAXs, we've worked with Boeing to put our level of ops together. We were supposed to get 27 aircraft.
We've now taken that down to 19, and we have the delivery schedule that we believe that Boeing will meet. They need to meet those dates for us to hit the level of apps, but that's the way we're planning it. The good news for us is that we don't have a lot of deliveries next year. Our capex is way down.
We know what our fleet is. The uncertainty for us from a level of operations perspective is probably more on the regional side. And what we're doing is being conservative on the regional side to plan three months out. We'll put a level of ops together for the full year of what we -- where we think we are.
And if the constraints fall off. We have more ability to fly. We'll add those back into the schedule as we move throughout the year. But we'll plan at the level that we gave you, which is the 100.
That assumes the push in the MAXs to only 19 aircraft and that they come in a little bit later. And we'll plan to schedule that way. We do have capabilities of putting the schedule out, and we can change it every three months and things like that. So you may see an adjustment to our plans as we go forward.
but we were sticking the stake in the ground with this level, with this aircraft, a lot easier to do this year than it has in the past, not knowing when they are coming, but still just the murkiest part for us is really the regional side and making sure that we can do the regionals at the levels we have them today.
Vasu Raja -- Senior Vice President, Chief Commercial Officer
I'll just add to something that Derek said there, really consistent with our principle of just making the airline as nimble and resilient as possible. One of the things that -- and a huge credit to Brian's Newtons and Aaron many people in our network and operations team. But we figured out ways where effectively, instead of building to a fictitious delivery plan. We can build what we know and add, as we call them lines of flying and on top of it, whether that is for regional jets for main lines.
And if you go out and look at schedules at a time when so many airlines cut capacity closed in probably at least the only one that I've seen in published schedules being able to add capacity back as American Airlines. And so we're finding more ways to do it. It's doing that puts us in a much better place to go manage the airline operationally and financially. It makes it a little bit harder to go and manage things like the peak days after Thanksgiving, but it's a much more practical way to go manage through some of these infrastructure uncertainties that we've got.
Operator
Our next question comes from the line of Stephen Trent of Citi.
Stephen Trent -- Citi -- Analyst
Most of my questions have been answered. I just had one quick question about fleet. I know you guys have gone through all of that operational dislocation with the next grounded in 2019. And as you think about longer term, any high-level view sort of what's optimal for American Airlines with respect to owning versus leasing versus sale leaseback, an ideal mix when you consider what's happening with interest rates and aircraft residual values, we just love to hear some color on that.
Derek Kerr -- Vice Chairman, Chief Financial Officer
Yes, Stephen, I mean, the one thing I will say is we are very happy that we did our fleet replacement program at a time where we could finance aircraft at 3% level. So as we look back at what we've done and where others have to go in this 6% to 7% range, we're very happy where we're at with the financing of our aircraft. As we look forward, we don't have many aircraft in 2023. So that's good news.
We only have about 32 aircraft. We already have five of them financed. We look at all markets. We look at the WTC market, the sale-leaseback market, the mortgage market, and we are getting attractive pricing in those markets today.
So our focus will be on the back half of 2023 and to finance those aircraft. We're all good through 2022. We're all good through the first half of 2023 with very attractive financing. And hopefully, as we go forward, we don't have a significant amount of aircraft.
We have 24 next year, and then we go into 50 and 50 to two years after that. So we've done our fleet replacement program. under really, really good rates that are going to be with us for a long time. So we're very happy where we're positioned now from an aircraft financing perspective.
Operator
Our next question comes from Sheila Kahyaoglu of Jefferies.
Sheila Kahyaoglu -- Jefferies -- Analyst
Maybe if we could talk about just revenue trends to start. Q3 was the first quarter where international passenger revenue outperformed domestic. Any color on how you could how you think about that trend going forward and potentially the impact on the U.S. dollar strength.
Robert Isom -- Chief Executive Officer and Chief Recruitment Officer
Vasu, go ahead and start, and I want to add something at the end, too, OK?
Vasu Raja -- Senior Vice President, Chief Commercial Officer
Yes, absolutely. Absolutely. Well, look, as mentioned before, the long-haul business is -- if you look back at over any time period you want, it's a much more volatile line of business to be than the short-haul business. We think that's absolutely the case.
That said, we're really encouraged where things are right now. there is clearly demand that's out there for the long-haul product. That too is taking shape in a very different way than what was there before the pandemic but coming in at levels that are far greater than what was there before the pandemic. What's less known is that we're still in a place where so many markets are still opening up.
As a practical matter, Japan really only opened up last week. So there's some major parts of the international systems that are coming back yet. They're still any number of inefficiencies there, which I know Robert can talk to a lot more that are going to yet be a bit of a drag. But over the long run, we're really excited for it, so much so that even though I've said that the airline is going to be an 80-20 short-haul, long-haul carrier.
Nonetheless, we're taking 787s steps. We still have an order for XLRs and things like that out there because we do think that the long-haul business will come back and come back in a way, which can be really beneficial certainly to us and our customers.
Robert Isom -- Chief Executive Officer and Chief Recruitment Officer
There's things that we're doing as a country that are actually hindering the recovery of demand internationally. It could be stronger, a lot stronger. And I want to make sure that people are aware of that. Right now -- in the past, in 2019, 43% of international visitation into the U.S.
that came from countries where you had to have a Visa to come into the United States. And back then in 2019, for people that wanted to come in for a first-time Visa to attend a big event meeting or kind of a convention. You maybe had to go and spend a few weeks to get a visa. So you can actually buy a ticket with some reasonable assurance that you'd actually be able to travel.
Well, now that process of getting a Visa is -- can be over a year, well over a year and really important big travel markets like countries like Brazil and Mexico and India. And when I talk about that 43% of inbound travel of international visitation, it's not like they're just -- it's not like we're limiting ourselves just on airfares and ticket prices and airline revenue, those people spent $120 billion when they came into the United States. So the country as a whole is hard. Here's what we're trying to do about it because we need to get at this.
You just -- the international recovery would be so much stronger if we got this out of the way. We're working with the state department. We've got to make sure that we respond to the situation to do so quickly. And it really comes in to making sure that B1 and B2 applicants, why come the United States participating in meetings that they're eligible to do so instead of taking their travel someplace else, which is what they're doing right now.
So anyway, I just want to make that point, Vasu, that international travel could be stronger.
Sheila Kahyaoglu -- Jefferies -- Analyst
No, that's great color, guys. And maybe just one follow-up for Vasu and his comments earlier on the loyalty program and credit card spend. How are you thinking about the loyalty program? Has there been a change in how America is viewing it and it's important to the operation relative to 2019?
Vasu Raja -- Senior Vice President, Chief Commercial Officer
Short answer, yes. Absolutely. We've seen it in any number of ways that -- look, so much of the marketplace has changed. Maybe the simplest way to think of it is this, those customers who are blending travel value travel, whereas for a lot of our customers prior to the pandemic, they might have traveled because their employer made them or they had to go and do it.
So we're seeing people travel with a lot more intentionality. And when that happens, those same customers are much more willing to go and earn miles so that they can go and take their family on vacation, for example. So that's where we see like Advantage enrollments are growing record levels everywhere. As our partnerships expand, we're seeing growth in places like the West Coast and the Northeast.
Levels that we've never seen before. But importantly, people are doing things like spending on their credit card. We did something where we counted credit card spending toward status, and that's been something really, really well received by our customers, too. And the last thing I'll say to this is we just see a lot of upside here.
If you compare our print out there in the sort of traditional network business, we're in a place where domestically in Latin America, we can be 10% to 20% larger than our competitors and produce unit revenues that are 5% to 10% larger than what they are. And that's a really good place to be in. But even still, compared to one of our largest network competitors, they run 90% the airline that we do, but they produce $1 billion more to their co-brand credit card program. So we're really focused on that because we think it's a huge value driver for our customers, a very obvious one for us.
We're really encouraged by the progress we've made with our partner in Citi. But as we look forward, we see that as a really key place where we need to have a strategic partnership in order to really create the value that's there.
Operator
That concludes the analyst Q&A. We will now take questions from the media. [Operator instructions] Our first question from the media comes from Alison Sider of Wall Street Journal.
Alison Sider -- Air Travel Reporter
Curious, you ever has been talking about sort of these different travel patterns or blended travel, you have different types of leisure trips. And I'm just curious, do those trends -- do they kind of fully offset the loss of managed corporate travel that you're still seeing? Like if there was sort of a stall in the corporate recovery with these kinds of new leisure type or blended type bookings to make up for it?
Vasu Raja -- Senior Vice President, Chief Commercial Officer
Absolutely. It has way more than offset it. And then you can see it in the results, right? The contracted corporations are 80% recovered, but this is the second quarter in a row where revenues have never been higher in our history. And indeed, that's on the strength of this blended demand that's there and unmanaged business-related demand, all of which is coming in at higher yield values, all of which tends to attach itself to really high-margin ancillary products like premium cabin seats, the credit card, loyalty programs, things like that.
So we're very much seeing a shift that's there and one that's really encouraging. All the more encouraging because as we look forward, really the airline revenue -- or airline revenues haven't totally recovered to their historical level. Historically, they would be about 1% of GDP. We're still not all the way there.
And so we think there's yet a lot of headroom that's there. We are really encouraged and absolutely, Ali, we are very much seeing that the managed corporate hasn't come back yet. It's more than being offset. And the last thing I'll say to you is, though managed corporate hasn't come back, the really critical word in that sentence is the word yet.
As more countries open up, as the visa inefficiencies that Robert talked about get rectified, that can really unlock yet a lot of demand that's out there, which is kind of what are the upside for the travel business.
Alison Sider -- Air Travel Reporter
Got it. And I guess, you mentioned the GDP relationship, so maybe that's part of the answer, but what gives you the confidence that these are real permanent shifts and not just spill over for the summer and eventually, just the inflationary pressures will get speed too much and people will just travel spending will fall by the late side just like other spending categories are seeing?
Vasu Raja -- Senior Vice President, Chief Commercial Officer
Yes. Ali, look, it's a great question, and there's probably maybe three parts to the answer. First, it's not a thing that we've just observed recently. We've been seeing this and talking about this probably for a couple of quarters now, and it is a real and a meaningful shift.
Two, it's not that we see the data in aggregate. We get the luxury of seeing it in particular. So for example, in 2021 and 2022, those customers on a blended trip who enrolled in our advantage program in 2022 are producing our revenue -- their revenues to us are about 10% higher than customers who traveled in '21 and '22 but didn't enroll the program. We see meaningful shifts.
When people actually go and spend on the credit card, they are more likely to go and fly on the airline and vice versa. So there's a lot of things out there which are quite striking in the data that we see and are very consistent. Then the last thing that I'll mention is yes, even though other consumer -- demand for other consumer products is changing. -- just never forget for us, in real dollars, the price of airfares are less now than what they were in 2019.
So you can still go out there and now it's not like the depth of the pandemic where there were 29 one-way fares but now they're $49 one-way fares. So air travel has never been the bargain that it is today. And we -- that's going to be a thing that lasts for quite a while going forward. Frankly, to the good of our customers and our business.
Operator
Our next question comes from Leslie Josephs of CNBC.
Leslie Josephs -- Airline Reporter
I was just wondering if -- how you're thinking about the Advantage program and with so many people getting cards, lots of sign-ups, very high spend and accruing loss of miles. How you're thinking about just the sheer number of people that have so many miles and whether you can deliver a product that entices more people to remain in the program and to keep using it. And I'm thinking like competition for upgrades and things like that? And then my second question, in 2023, you said 95% to 100% back to 2019 levels. If you do have the aircraft, do you want to fly more? Or is there a concern that that would drive down fares in revenue?
Vasu Raja -- Senior Vice President, Chief Commercial Officer
Leslie, this is Vasu. I can start into that and others may want to join in for the second part of your question. So look, as we like to say it, burn begets burn. And the most important thing is people are earning more miles, we want to keep continuing to do it.
It's valuable to them. They want to be able to unlock future travel opportunities. And the really important thing is for that to happen, they need to be able to burn their miles. So stay tuned for more, but we're looking at a lot of ways where we can make status more rewarding and more meaningful and also where we can do more things where people can use their miles more.
We were really encouraged this summer. We actually experimented with a lot of ways where we went and expanded availability for award redemption and things like that. And we found the take rates among our customers to be really promising. And so we see a lot of opportunities for that, both within AA, but also in conjunction with many of our partners.
So more on that soon. And if you could just repeat your second question.
Robert Isom -- Chief Executive Officer and Chief Recruitment Officer
Vasu, this is me, I'll add into that. Look, whether or not we're -- the AAdvantage members are outpacing the growth in advanced members that are outpacing our ability to service them. Leslie, that's where we talk about what we're doing with our premium seats and making sure that we have the ability to serve customers but -- as well, we're creating world-class product as well in so many different places. Take our LaGuardia labs.
If you haven't been there, please go see it. best domestic lounge in the country. And it's only going to be beaten when we open up our new DCA lounge. And you'll see that we're doing this kind of thing to make sure that we can accommodate a much broader group.
And we're going to spend for it. It's worthwhile to do that, and we're tracking the right customers. So then the last thing is, would we be flying more right now if we -- if these constraints weren't out there, we'd find a little bit more we'll take a look at that for next year. But as I said before, the biggest thing for us is making sure that we have certainty in terms of our schedule.
And so we're going to make sure that we don't outpace what we have either in terms of aircraft deliveries if that's the constraint or if it's pilots at a regional level or our ability to train pilots from a mainline perspective.
Operator
Our next question comes from the line of Mary Schlangenstein of Bloomberg.
Mary Schlangenstein -- Airline Reporter
Yes. I'm not muted. Can you hear me?
Robert Isom -- Chief Executive Officer and Chief Recruitment Officer
Yes.
Mary Schlangenstein -- Airline Reporter
Excellent. Great. Vasu, for a long time, the thinking in the industry was that the domestic market was mature. And so the best opportunities for growth were outside of the U.S., and that seems to be the exact opposite of what you're doing now.
And I wanted to see if you could comment on whether there was some sort of change, whether that belief across the industry was just an error or a misreading of the industry? And then the second question was on the 80/20 short-haul, long-haul mix. Is that 20 a base for you in terms of long haul? Or could we see that potentially fall further going forward?
Vasu Raja -- Senior Vice President, Chief Commercial Officer
Thanks, Mary. The second of your question, it's pretty unlikely that it falls further going forward. How we build it back over time kind of remains to be seen. That's a big part of our 2023 and beyond planning.
But it will be pretty surprising at this point about anything materially lower than that. And indeed, through so many of these partnerships, we probably see more ways to grow it than any desire to shrink it. Then to the first of your question that, yes, look, what I'd say is that North America, as an originating market, is a very mature market, but it's also the highest area of airline demand, the highest yielding marketplace that's anywhere in the world. And what we find is, indeed, so much of what's happened, especially post pandemic across the U.S.
is there's a significant amount of demand growth and economic growth outside of the historically large big coastal cities that are there, places like Phoenix Arizona, Austin, Texas, Oklahoma City, places like that are growing at a pretty meaningful level. And with that, there's just a lot of people who want to be able to come in and travel. And what we do great is we connect them into the global marketplace. Whether that is New York or Heathrow or whatever the case might be.
Maybe to put a bit of an example on that, like take a market like New York City, New York City is a place where there's more flights a day to Paris than there are at Little Rock, Arkansas. Well, American Airlines out of the first flight from Little Rock to New York. And it was made possible through our partnership with JetBlue and the -- but by having that, we've created opportunities for customers that they wouldn't have had before. So we see yet a lot of opportunities to do that.
And indeed, the results kind of speak for it, the more that we do, the more encouraged we are that our customers value and are willing to pay for it.
Operator
Our next question comes from the line of Kyle Arnold of Dallas News.
Kyle Arnold -- Aviation Writer
Can you guys talk a little bit about how the blended travel trend is going to play into the holidays, whether you're seeing more people shift into earlier in the week outside of that, maybe pre-Thanksgiving day? And is there a different kind of cadence to that? In the summer versus the winter or maybe the winter where those peak days are a little tighter?
Vasu Raja -- Senior Vice President, Chief Commercial Officer
Kyle, this is Vasu. And yes, we do see a little bit of that day of week shift. Not only do we see it just in general, a time of day ship for people who are coming out of what we call the peak business travel time channels and into the body of the airline Day. We're seeing more growth happening on things like Wednesday evenings or Thursday morning, places where -- while there was demand, it was traditionally not as great as what it would be on a Thursday evening at 6:00.
And so with that in mind, yes, we are indeed anticipating that it's not just that the Thanksgiving weekend, for example, will be peak, but even the days around it, we'll have a level of demand. In fact, if you go look at our Thanksgiving schedule right now, there's less peak-to-trough variability there than certainly I've seen in the schedule for a number of years.
Robert Isom -- Chief Executive Officer and Chief Recruitment Officer
So, Kyle, I'll add. Vasu's organization has our revenue management team in it. They -- every now they take me through the worm charts that show us how we're booking at various points in the year. And I'll tell you this, what I saw earlier this week is compared to 2019 and the prior years, look, the holidays are booking really well.
And so I think that that bodes well. But what I think Vasu, you also probably note is that getting the seat is something that's going to be hard. So it's going to place it there's going to be a move in terms of where people can fly just based on availability.
Vasu Raja -- Senior Vice President, Chief Commercial Officer
Absolutely right.
Robert Isom -- Chief Executive Officer and Chief Recruitment Officer
Which is a good thing. And Scott, is that on the last question? Is that right? So I'll just close with this, which is, if you can't tell, we're pleased with our results. It's been a heck of a few years in the pandemic. And it's great to be at a point where -- not only are we reporting profits on a quarterly basis, but looking at into the future as well.
Demand remains strong. We're very optimistic. And American is really in a position to taking full advantage of the recovery. It's because of the things that we've done with our network, with our partnerships, with our fleet, getting the airline really situated to fly what we can do best.
We are focused on reliability. And that is something that everybody in the company has top of mind. I'm really pleased with how we're performing here in October and in September and as we closed out August as well. And my confidence is bolstered by a number of things.
Just first, I look at the metrics that we run every day. So things like aircraft out of service at the start of the morning, we're running record all-time lows. I got to give a shout-out to our technical operations team for having our aircraft in better shape than they've ever been in but as well as things like reserve levels for our pilots and flight attendants and just making sure things are ready to go, I feel really confident the way that we recovered post the horrific hurricanes in the flooding that was here in DFW back in August. It gives me great confidence that even when you throw enormous disruption that we can get back on our feet really quickly.
that reliability translates into profitability. And yes, we said it over and over again. We have to be profitable in order to really serve the needs of our communities, our customers and the shareholders of this company. We're intent on doing it, and we're going to make sure that this airline is one that you can count on in terms of producing profits, ultimately reducing debt over time and being sustainable from a profitability perspective.
So we're hard at work. We're going to get back to it as soon as we get off this call. And I appreciate everybody spending time with us, and thanks.
Operator
[Operator signoff]
Duration: 0 minutes
Call participants:
Scott Long -- Head of Investor Relations
Robert Isom -- Chief Executive Officer and Chief Recruitment Officer
Derek Kerr -- Vice Chairman, Chief Financial Officer
David Vernon -- AllianceBernstein -- Analyst
Vasu Raja -- Senior Vice President, Chief Commercial Officer
Savi Syth -- Raymond James -- Analyst
Jamie Baker -- JPMorgan Chase and Company -- Analyst
Duane Pfennigwerth -- Evercore ISI -- Analyst
Michael Linenberg -- Deutsche Bank -- Analyst
Conor Cunningham -- Melius Research -- Analyst
Helane Becker -- Cowen and Company -- Analyst
Stephen Trent -- Citi -- Analyst
Sheila Kahyaoglu -- Jefferies -- Analyst
Alison Sider -- Air Travel Reporter
Leslie Josephs -- Airline Reporter
Mary Schlangenstein -- Airline Reporter
Kyle Arnold -- Aviation Writer
More AAL analysis
All earnings call transcripts
This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.
The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group (NASDAQ: AAL) Q3 2022 Earnings Call Oct 20, 2022, 8:30 a.m. Operator [Operator signoff] Duration: 0 minutes Call participants: Scott Long -- Head of Investor Relations Robert Isom -- Chief Executive Officer and Chief Recruitment Officer Derek Kerr -- Vice Chairman, Chief Financial Officer David Vernon -- AllianceBernstein -- Analyst Vasu Raja -- Senior Vice President, Chief Commercial Officer Savi Syth -- Raymond James -- Analyst Jamie Baker -- JPMorgan Chase and Company -- Analyst Duane Pfennigwerth -- Evercore ISI -- Analyst Michael Linenberg -- Deutsche Bank -- Analyst Conor Cunningham -- Melius Research -- Analyst Helane Becker -- Cowen and Company -- Analyst Stephen Trent -- Citi -- Analyst Sheila Kahyaoglu -- Jefferies -- Analyst Alison Sider -- Air Travel Reporter Leslie Josephs -- Airline Reporter Mary Schlangenstein -- Airline Reporter Kyle Arnold -- Aviation Writer More AAL analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. As we close out 2022 and move into 2023, we're confident in our ability to continue to deliver on our stated objectives of operational reliability and sustained profitability because of our world-class network, efficient fleet, and incredible team.
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Operator [Operator signoff] Duration: 0 minutes Call participants: Scott Long -- Head of Investor Relations Robert Isom -- Chief Executive Officer and Chief Recruitment Officer Derek Kerr -- Vice Chairman, Chief Financial Officer David Vernon -- AllianceBernstein -- Analyst Vasu Raja -- Senior Vice President, Chief Commercial Officer Savi Syth -- Raymond James -- Analyst Jamie Baker -- JPMorgan Chase and Company -- Analyst Duane Pfennigwerth -- Evercore ISI -- Analyst Michael Linenberg -- Deutsche Bank -- Analyst Conor Cunningham -- Melius Research -- Analyst Helane Becker -- Cowen and Company -- Analyst Stephen Trent -- Citi -- Analyst Sheila Kahyaoglu -- Jefferies -- Analyst Alison Sider -- Air Travel Reporter Leslie Josephs -- Airline Reporter Mary Schlangenstein -- Airline Reporter Kyle Arnold -- Aviation Writer More AAL analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. American Airlines Group (NASDAQ: AAL) Q3 2022 Earnings Call Oct 20, 2022, 8:30 a.m. [Operator instructions] And before we begin today, we must state that today's call contains forward-looking statements including statements concerning future revenues, costs, forecast of capacity, and fleet plans.
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Operator [Operator signoff] Duration: 0 minutes Call participants: Scott Long -- Head of Investor Relations Robert Isom -- Chief Executive Officer and Chief Recruitment Officer Derek Kerr -- Vice Chairman, Chief Financial Officer David Vernon -- AllianceBernstein -- Analyst Vasu Raja -- Senior Vice President, Chief Commercial Officer Savi Syth -- Raymond James -- Analyst Jamie Baker -- JPMorgan Chase and Company -- Analyst Duane Pfennigwerth -- Evercore ISI -- Analyst Michael Linenberg -- Deutsche Bank -- Analyst Conor Cunningham -- Melius Research -- Analyst Helane Becker -- Cowen and Company -- Analyst Stephen Trent -- Citi -- Analyst Sheila Kahyaoglu -- Jefferies -- Analyst Alison Sider -- Air Travel Reporter Leslie Josephs -- Airline Reporter Mary Schlangenstein -- Airline Reporter Kyle Arnold -- Aviation Writer More AAL analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. American Airlines Group (NASDAQ: AAL) Q3 2022 Earnings Call Oct 20, 2022, 8:30 a.m. But we will have efficiencies that come with up-gauging that we did -- we've done and will come with the incremental utilization that we can get out of our aircraft -- and quite frankly, some of the things that Vasu's talked about in terms of network, in terms of marketing and then also in terms of engaging our customers in a way that they will pay us for things like credit cards.
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Operator [Operator signoff] Duration: 0 minutes Call participants: Scott Long -- Head of Investor Relations Robert Isom -- Chief Executive Officer and Chief Recruitment Officer Derek Kerr -- Vice Chairman, Chief Financial Officer David Vernon -- AllianceBernstein -- Analyst Vasu Raja -- Senior Vice President, Chief Commercial Officer Savi Syth -- Raymond James -- Analyst Jamie Baker -- JPMorgan Chase and Company -- Analyst Duane Pfennigwerth -- Evercore ISI -- Analyst Michael Linenberg -- Deutsche Bank -- Analyst Conor Cunningham -- Melius Research -- Analyst Helane Becker -- Cowen and Company -- Analyst Stephen Trent -- Citi -- Analyst Sheila Kahyaoglu -- Jefferies -- Analyst Alison Sider -- Air Travel Reporter Leslie Josephs -- Airline Reporter Mary Schlangenstein -- Airline Reporter Kyle Arnold -- Aviation Writer More AAL analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. American Airlines Group (NASDAQ: AAL) Q3 2022 Earnings Call Oct 20, 2022, 8:30 a.m. So, Derek, you talked about the under on the number of aircraft you actually have on for delivery schedule for next year.
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3157.0
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2022-10-20 00:00:00 UTC
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PREVIEW-Visa, Mastercard profits expected to jump as travel rebounds
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AAL
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https://www.nasdaq.com/articles/preview-visa-mastercard-profits-expected-to-jump-as-travel-rebounds
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By Niket Nishant
Oct 20 (Reuters) - U.S. card companies are expected to benefit as pandemic-weary consumers continue to fuel demand for travel, one of the biggest contributors to revenue, despite rising inflation.
With more companies resuming business travel and people planning vacations, Visa Inc V.N, Mastercard MA.N and American Express AXP.N are likely to see a jump in cross border volume, according to analysts.
"So far, despite the macro, you continue to see a somewhat stable consumer," Wedbush Securities analyst Moshe Katri said, adding that monthly data from Visa and Mastercard showed no hit to payments or cross-border volumes.
"Bottom line, the sky isn't falling, at least yet."
Cross border volumes are a measure of travel demand reflecting spending on cards outside the country they were issued.
Pent-up demand for travel, coupled with inflation, was making U.S. travelers spend 35% more in the fall this year compared with 2021, according to a report from travel insurance aggregator Squaremouth.com.
American Airlines AAL.O, United Airlines Holdings UAL.O and Delta Air Lines DAL.N have also forecast strong profits for the rest of the year, in a sign that travel demand was offsetting concerns about expensive air fares.
THE CONTEXT
Card companies tend to make more money when prices surge as they typically charge a percentage of the dollar value of transactions.
But high inflation can weigh on consumer spending if it is accompanied by rising interest rates, like in the United States, that could tip the economy into recession.
A darkening economic outlook has not yet crimped spending by consumers who remain in good financial health, according to U.S. banking giants that reported earnings earlier this month.
American Express, which is more sensitive to interest rate increases as credit cards comprise a large part of the company's business, remains well-positioned.
"AmEx's (credit) loss rates have stayed firmly in check. Its core customers are likely to have higher incomes, who are expected to be less impacted by inflation," BofA Securities analyst Mihir Bhatia said.
American Express will report its quarterly earnings on Friday, followed by Visa and Mastercard next week.
AmEx shares have dropped 12%, while Mastercard and Visa are down 17% and 14% this year, respectively.
THE FUNDAMENTALS
Company
Refinitiv revenue estimate
Refinitiv EPS estimate
American Express
$13.50 bln (up 24% y-o-y)
$2.41
Visa
$7.55 bln (up 23% y-o-y)
$1.87
Mastercard
$5.65 bln (up 13% y-o-y)
$2.56
WALL STREET SENTIMENT
** American Express - 15 of 28 brokerages rate the stock "buy" or higher, 11 "hold" and 2 "sell"; median PT $170 - Refinitiv data
** Visa - 36 of 40 brokerages rate the stock "buy" or higher and 4 "hold"; median PT $257
** Mastercard - 35 of 39 brokerages rate the stock "buy" or higher, 4 "hold" and 2 "sell"; median PT $405
U.S. card issuers stock performance YTDhttps://tmsnrt.rs/3eN5iQ0
Change in profit for H1 2022https://tmsnrt.rs/3godtmk
(Reporting by Niket Nishant in Bengaluru; Editing by Lananh Nguyen and Shounak Dasgupta)
((Niket.Nishant@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines AAL.O, United Airlines Holdings UAL.O and Delta Air Lines DAL.N have also forecast strong profits for the rest of the year, in a sign that travel demand was offsetting concerns about expensive air fares. By Niket Nishant Oct 20 (Reuters) - U.S. card companies are expected to benefit as pandemic-weary consumers continue to fuel demand for travel, one of the biggest contributors to revenue, despite rising inflation. "So far, despite the macro, you continue to see a somewhat stable consumer," Wedbush Securities analyst Moshe Katri said, adding that monthly data from Visa and Mastercard showed no hit to payments or cross-border volumes.
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American Airlines AAL.O, United Airlines Holdings UAL.O and Delta Air Lines DAL.N have also forecast strong profits for the rest of the year, in a sign that travel demand was offsetting concerns about expensive air fares. Company Refinitiv revenue estimate Refinitiv EPS estimate American Express $13.50 bln (up 24% y-o-y) $2.41 Visa $7.55 bln (up 23% y-o-y) $1.87 Mastercard $5.65 bln (up 13% y-o-y) $2.56 ** American Express - 15 of 28 brokerages rate the stock "buy" or higher, 11 "hold" and 2 "sell"; median PT $170 - Refinitiv data ** Visa - 36 of 40 brokerages rate the stock "buy" or higher and 4 "hold"; median PT $257 ** Mastercard - 35 of 39 brokerages rate the stock "buy" or higher, 4 "hold" and 2 "sell"; median PT $405 U.S. card issuers stock performance YTDhttps://tmsnrt.rs/3eN5iQ0 Change in profit for H1 2022https://tmsnrt.rs/3godtmk (Reporting by Niket Nishant in Bengaluru; Editing by Lananh Nguyen and Shounak Dasgupta) ((Niket.Nishant@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines AAL.O, United Airlines Holdings UAL.O and Delta Air Lines DAL.N have also forecast strong profits for the rest of the year, in a sign that travel demand was offsetting concerns about expensive air fares. Pent-up demand for travel, coupled with inflation, was making U.S. travelers spend 35% more in the fall this year compared with 2021, according to a report from travel insurance aggregator Squaremouth.com. Company Refinitiv revenue estimate Refinitiv EPS estimate American Express $13.50 bln (up 24% y-o-y) $2.41 Visa $7.55 bln (up 23% y-o-y) $1.87 Mastercard $5.65 bln (up 13% y-o-y) $2.56
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American Airlines AAL.O, United Airlines Holdings UAL.O and Delta Air Lines DAL.N have also forecast strong profits for the rest of the year, in a sign that travel demand was offsetting concerns about expensive air fares. With more companies resuming business travel and people planning vacations, Visa Inc V.N, Mastercard MA.N and American Express AXP.N are likely to see a jump in cross border volume, according to analysts. Pent-up demand for travel, coupled with inflation, was making U.S. travelers spend 35% more in the fall this year compared with 2021, according to a report from travel insurance aggregator Squaremouth.com.
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3158.0
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2022-10-20 00:00:00 UTC
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American Airlines Q3 Results Top Estimates; Guides Q4 Adj. EPS Well Above View
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AAL
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https://www.nasdaq.com/articles/american-airlines-q3-results-top-estimates-guides-q4-adj.-eps-well-above-view
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(RTTNews) - American Airlines Group, Inc. (AAL) reported Thursday that net income for the third quarter soared to $483 million or $0.69 per share from $169 million or $0.25 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter was $0.69 per share, compared to adjusted loss of $0.99 per share last year.
On average, 14 analysts polled by Thomson Reuters expected the company to report earnings of $0.56 per share for the quarter. Analysts' estimates typically exclude special items.
Operating revenues for the quarter surged 50.1 percent to $13.46 billion from $8.97 billion in the same quarter last year. It increased only 13 percent over the same period in 2019. Analysts expected revenues of $13.42 billion for the quarter.
Looking ahead, the company expects adjusted earnings for the fourth quarter in a range of $0.50 to $0.70 per share, while the Street is looking for $0.22 per share.
Based on current trends, the company also expects its fourth-quarter total revenue to be 11% to 13% higher versus the fourth quarter of 2019 on 5% to 7% lower capacity.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - American Airlines Group, Inc. (AAL) reported Thursday that net income for the third quarter soared to $483 million or $0.69 per share from $169 million or $0.25 per share in the prior-year quarter. On average, 14 analysts polled by Thomson Reuters expected the company to report earnings of $0.56 per share for the quarter. Based on current trends, the company also expects its fourth-quarter total revenue to be 11% to 13% higher versus the fourth quarter of 2019 on 5% to 7% lower capacity.
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(RTTNews) - American Airlines Group, Inc. (AAL) reported Thursday that net income for the third quarter soared to $483 million or $0.69 per share from $169 million or $0.25 per share in the prior-year quarter. Excluding items, adjusted earnings for the quarter was $0.69 per share, compared to adjusted loss of $0.99 per share last year. Analysts expected revenues of $13.42 billion for the quarter.
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(RTTNews) - American Airlines Group, Inc. (AAL) reported Thursday that net income for the third quarter soared to $483 million or $0.69 per share from $169 million or $0.25 per share in the prior-year quarter. Excluding items, adjusted earnings for the quarter was $0.69 per share, compared to adjusted loss of $0.99 per share last year. Looking ahead, the company expects adjusted earnings for the fourth quarter in a range of $0.50 to $0.70 per share, while the Street is looking for $0.22 per share.
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(RTTNews) - American Airlines Group, Inc. (AAL) reported Thursday that net income for the third quarter soared to $483 million or $0.69 per share from $169 million or $0.25 per share in the prior-year quarter. On average, 14 analysts polled by Thomson Reuters expected the company to report earnings of $0.56 per share for the quarter. Analysts expected revenues of $13.42 billion for the quarter.
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3159.0
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2022-10-20 00:00:00 UTC
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American Airlines forecasts strong profit for December quarter
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AAL
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https://www.nasdaq.com/articles/american-airlines-forecasts-strong-profit-for-december-quarter
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Adds Q4 guidance, shares
Oct 20 (Reuters) - American Airlines Group Inc AAL.O expects to report a profit in the December quarter above Wall Street estimates, the company said on Thursday, helped by a strong rebound in travel as the demand shows no signs of cooling despite high airfare.
Major U.S. carriers are optimistic that the recovery trends will continue as the reopening of borders and strengthening of the dollar has encouraged Americans to travel oversees. Corporate travel, that has been the slowest to recover, was also boosted due to office reopenings.
Shares of American Airlines were up about 3% at $14.43 in premarket trade.
The carrier said it expects adjusted profit between 50 and 70 cents per share for the fourth quarter ending December, compared with analysts' estimate of 22 cents per share, according to Refinitiv IBES data.
American Airlines reported an adjusted profit of $478 million, or 69 cents per share, for the quarter ended Sept. 30, compared with an adjusted loss of $641 million, or 99 cents per share, a year earlier.
The Fort Worth, Texas-based airline's operating revenue rose to about $13.46 billion from about $8.97 billion a year earlier.
(Reporting by Aishwarya Nair in Bengaluru; Editing by Shailesh Kuber)
((Aishwarya.Nair@thomsonreuters.com; +91-9167838937 Twitter: https://twitter.com/Aishwaryartrs ;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds Q4 guidance, shares Oct 20 (Reuters) - American Airlines Group Inc AAL.O expects to report a profit in the December quarter above Wall Street estimates, the company said on Thursday, helped by a strong rebound in travel as the demand shows no signs of cooling despite high airfare. Major U.S. carriers are optimistic that the recovery trends will continue as the reopening of borders and strengthening of the dollar has encouraged Americans to travel oversees. Corporate travel, that has been the slowest to recover, was also boosted due to office reopenings.
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Adds Q4 guidance, shares Oct 20 (Reuters) - American Airlines Group Inc AAL.O expects to report a profit in the December quarter above Wall Street estimates, the company said on Thursday, helped by a strong rebound in travel as the demand shows no signs of cooling despite high airfare. The carrier said it expects adjusted profit between 50 and 70 cents per share for the fourth quarter ending December, compared with analysts' estimate of 22 cents per share, according to Refinitiv IBES data. American Airlines reported an adjusted profit of $478 million, or 69 cents per share, for the quarter ended Sept. 30, compared with an adjusted loss of $641 million, or 99 cents per share, a year earlier.
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Adds Q4 guidance, shares Oct 20 (Reuters) - American Airlines Group Inc AAL.O expects to report a profit in the December quarter above Wall Street estimates, the company said on Thursday, helped by a strong rebound in travel as the demand shows no signs of cooling despite high airfare. The carrier said it expects adjusted profit between 50 and 70 cents per share for the fourth quarter ending December, compared with analysts' estimate of 22 cents per share, according to Refinitiv IBES data. American Airlines reported an adjusted profit of $478 million, or 69 cents per share, for the quarter ended Sept. 30, compared with an adjusted loss of $641 million, or 99 cents per share, a year earlier.
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Adds Q4 guidance, shares Oct 20 (Reuters) - American Airlines Group Inc AAL.O expects to report a profit in the December quarter above Wall Street estimates, the company said on Thursday, helped by a strong rebound in travel as the demand shows no signs of cooling despite high airfare. Major U.S. carriers are optimistic that the recovery trends will continue as the reopening of borders and strengthening of the dollar has encouraged Americans to travel oversees. Corporate travel, that has been the slowest to recover, was also boosted due to office reopenings.
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3160.0
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2022-10-20 00:00:00 UTC
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American Airlines Group Q3 22 Earnings Conference Call At 8:30 AM ET
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AAL
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https://www.nasdaq.com/articles/american-airlines-group-q3-22-earnings-conference-call-at-8%3A30-am-et
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(RTTNews) - American Airlines Group Inc. (AAL) will host a conference call at 8:30 AM ET on October 20, 2022, to discuss Q3 22 earnings results.
To access the live webcast, log on to https://americanairlines.gcs-web.com/events/event-details/q3-2022-american-airlines-group-inc-earnings-conference-call
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - American Airlines Group Inc. (AAL) will host a conference call at 8:30 AM ET on October 20, 2022, to discuss Q3 22 earnings results. To access the live webcast, log on to https://americanairlines.gcs-web.com/events/event-details/q3-2022-american-airlines-group-inc-earnings-conference-call The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - American Airlines Group Inc. (AAL) will host a conference call at 8:30 AM ET on October 20, 2022, to discuss Q3 22 earnings results. To access the live webcast, log on to https://americanairlines.gcs-web.com/events/event-details/q3-2022-american-airlines-group-inc-earnings-conference-call The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - American Airlines Group Inc. (AAL) will host a conference call at 8:30 AM ET on October 20, 2022, to discuss Q3 22 earnings results. To access the live webcast, log on to https://americanairlines.gcs-web.com/events/event-details/q3-2022-american-airlines-group-inc-earnings-conference-call The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - American Airlines Group Inc. (AAL) will host a conference call at 8:30 AM ET on October 20, 2022, to discuss Q3 22 earnings results. To access the live webcast, log on to https://americanairlines.gcs-web.com/events/event-details/q3-2022-american-airlines-group-inc-earnings-conference-call The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3161.0
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2022-10-20 00:00:00 UTC
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American Airlines Set For Mixed Earnings Performance?
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AAL
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https://www.nasdaq.com/articles/american-airlines-set-for-mixed-earnings-performance
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nan
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nan
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American Airlines Group (NASDAQ: AAL) is scheduled to report its fiscal Q3 2022 results on Thursday, October 20, 2022. We expect American Airlines to narrowly beat the consensus estimates for revenues, while missing on earnings. The airline company reported strong results in the last quarter, with the total operating revenues jumping almost 80% y-o-y to $13.4 billion, driven primarily by a strong recovery in passenger segment revenue. Sales from the company’s passenger segment rose from $6.55 billion in Q2 2021, to $12.2 billion in Q2 2022. Cargo & Other sales also witnessed steady growth over this period. Going forward, we expect the passenger segment to continue its growth trajectory in Q3, with another strong YoY sales performance.
Our forecast indicates that American Airlines’ valuation is $17 per share, which is 30% above the current market price of around $13. Our interactive dashboard analysis on American Airlines’ Earnings Preview has more details.
(1) Revenues expected to remain slightly above the consensus estimates
American Airlines’ revenues improved nearly 80% y-o-y to $13.4 billion in the Q2 2022, primarily driven by the continued recovery in passenger segment sales since the pandemic.
Sales from the passenger segment rose strongly from $6.55 billion in Q2 2021 to $12.2 billion in Q2 2022, as air travel picked up, combined with a rise in prices.
Cargo sales remained roughly flat over this period, but other revenue (related to loyalty programs) rose from $607 million to $871 million over this period.
Overall, we estimate this sales growth to persist over the remaining two quarters of 2022.
Trefis estimates AAL’s fiscal Q3 2022 net revenues to be around $8.85 billion, marginally above the $8.82 billion consensus estimate.
2) EPS is likely to miss the consensus estimates
American Airlines Q3 2022 adjusted earnings per share (EPS) is expected to be -$2.55 per Trefis analysis, below the consensus estimate of -$2.40. While the stellar sales growth in Q2 2022, helped offset the 2.5x YoY rise in fuel expenses, an income tax benefit further helped support net income. However, with the persistence in high crude oil prices, we expect fuel expenses to continue pulling on profitability, and with rising inflation, we expect a jump in other operating heads as well.
(3) Stock price estimate is 29% above the current market price
We arrive at American Airlines’ valuation, using an RPS estimate of around $71.63 and a P/S multiple of just above 0.2x in fiscal 2022. This translates into a price of $17, which is 29% more than the current market price of close to $13.
Note: P/S Multiples are based on Share Price at the end of the year and reported (or expected) Revenues for the full year
What if you’re looking for a more balanced portfolio instead? Our high-quality portfolio and multi-strategy portfolio have beaten the market consistently since the end of 2016.
Returns Oct 2022
MTD [1] 2022
YTD [1] 2017-22
Total [2]
AAL Return 10% -27% -72%
S&P 500 Return 3% -23% 64%
Trefis Multi-Strategy Portfolio 2% -25% 196%
[1] Month-to-date and year-to-date as of 10/18/2022
[2] Cumulative total returns since the end of 2016
Invest with Trefis Market Beating Portfolios
See all Trefis Price Estimates
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group (NASDAQ: AAL) is scheduled to report its fiscal Q3 2022 results on Thursday, October 20, 2022. Trefis estimates AAL’s fiscal Q3 2022 net revenues to be around $8.85 billion, marginally above the $8.82 billion consensus estimate. Total [2] AAL Return 10% -27% -72% S&P 500 Return 3% -23% 64% Trefis Multi-Strategy Portfolio 2% -25% 196% [1] Month-to-date and year-to-date as of 10/18/2022 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group (NASDAQ: AAL) is scheduled to report its fiscal Q3 2022 results on Thursday, October 20, 2022. Trefis estimates AAL’s fiscal Q3 2022 net revenues to be around $8.85 billion, marginally above the $8.82 billion consensus estimate. Total [2] AAL Return 10% -27% -72% S&P 500 Return 3% -23% 64% Trefis Multi-Strategy Portfolio 2% -25% 196% [1] Month-to-date and year-to-date as of 10/18/2022 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Total [2] AAL Return 10% -27% -72% S&P 500 Return 3% -23% 64% Trefis Multi-Strategy Portfolio 2% -25% 196% [1] Month-to-date and year-to-date as of 10/18/2022 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. American Airlines Group (NASDAQ: AAL) is scheduled to report its fiscal Q3 2022 results on Thursday, October 20, 2022. Trefis estimates AAL’s fiscal Q3 2022 net revenues to be around $8.85 billion, marginally above the $8.82 billion consensus estimate.
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Trefis estimates AAL’s fiscal Q3 2022 net revenues to be around $8.85 billion, marginally above the $8.82 billion consensus estimate. American Airlines Group (NASDAQ: AAL) is scheduled to report its fiscal Q3 2022 results on Thursday, October 20, 2022. Total [2] AAL Return 10% -27% -72% S&P 500 Return 3% -23% 64% Trefis Multi-Strategy Portfolio 2% -25% 196% [1] Month-to-date and year-to-date as of 10/18/2022 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3162.0
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2022-10-20 00:00:00 UTC
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American Airlines (AAL) Q3 Earnings and Revenues Beat Estimates
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AAL
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https://www.nasdaq.com/articles/american-airlines-aal-q3-earnings-and-revenues-beat-estimates
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nan
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nan
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American Airlines (AAL) came out with quarterly earnings of $0.69 per share, beating the Zacks Consensus Estimate of $0.54 per share. This compares to loss of $0.99 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 27.78%. A quarter ago, it was expected that this world's largest airline would post earnings of $0.79 per share when it actually produced earnings of $0.76, delivering a surprise of -3.80%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
American Airlines, which belongs to the Zacks Transportation - Airline industry, posted revenues of $13.46 billion for the quarter ended September 2022, surpassing the Zacks Consensus Estimate by 0.03%. This compares to year-ago revenues of $8.97 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
American Airlines shares have lost about 22.1% since the beginning of the year versus the S&P 500's decline of -22.5%.
What's Next for American Airlines?
While American Airlines has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for American Airlines: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.18 on $12.46 billion in revenues for the coming quarter and -$0.82 on $48.15 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Transportation - Airline is currently in the bottom 49% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Southwest Airlines (LUV), has yet to report results for the quarter ended September 2022. The results are expected to be released on October 27.
This airline is expected to post quarterly earnings of $0.41 per share in its upcoming report, which represents a year-over-year change of +278.3%. The consensus EPS estimate for the quarter has been revised 1.3% higher over the last 30 days to the current level.
Southwest Airlines' revenues are expected to be $6.23 billion, up 33.1% from the year-ago quarter.
Zacks Names "Single Best Pick to Double"
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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American Airlines Group Inc. (AAL): Free Stock Analysis Report
Southwest Airlines Co. (LUV): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines (AAL) came out with quarterly earnings of $0.69 per share, beating the Zacks Consensus Estimate of $0.54 per share. American Airlines Group Inc. (AAL): Free Stock Analysis Report Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions.
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American Airlines (AAL) came out with quarterly earnings of $0.69 per share, beating the Zacks Consensus Estimate of $0.54 per share. American Airlines Group Inc. (AAL): Free Stock Analysis Report American Airlines, which belongs to the Zacks Transportation - Airline industry, posted revenues of $13.46 billion for the quarter ended September 2022, surpassing the Zacks Consensus Estimate by 0.03%.
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American Airlines (AAL) came out with quarterly earnings of $0.69 per share, beating the Zacks Consensus Estimate of $0.54 per share. American Airlines Group Inc. (AAL): Free Stock Analysis Report American Airlines, which belongs to the Zacks Transportation - Airline industry, posted revenues of $13.46 billion for the quarter ended September 2022, surpassing the Zacks Consensus Estimate by 0.03%.
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American Airlines (AAL) came out with quarterly earnings of $0.69 per share, beating the Zacks Consensus Estimate of $0.54 per share. American Airlines Group Inc. (AAL): Free Stock Analysis Report The company has topped consensus revenue estimates four times over the last four quarters.
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3163.0
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2022-10-20 00:00:00 UTC
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US STOCKS-S&P 500, Dow futures up after positive forecasts from IBM, AT&T
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AAL
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https://www.nasdaq.com/articles/us-stocks-sp-500-dow-futures-up-after-positive-forecasts-from-ibm-att
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nan
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By Shreyashi Sanyal
Oct 20 (Reuters) - Futures tracking the Dow and S&P 500 gained on Thursday as positive forecasts from IBM and AT&T helped offset declines from Tesla after it warned of missing its vehicle delivery target this year.
IBM Corp IBM.N rose 3.3% in premarket trading, leading the advance among Dow components after the software and IT services company beat quarterly earnings estimates on Wednesday and said it expects to exceed full-year revenue growth targets.
Fellow blue-chip stock Verizon Communications Inc VZ.N shares added 0.6% after peer wireless carrier AT&T Inc T.N added 2.5% upon raising its annual profit forecast.
American Airlines Group Inc AAL.O also expects to report a profit in the December quarter above Wall Street estimates, pushing its shares up 2.9%.
The positive forecasts arrive after upbeat results by big U.S. banks, Netflix Inc NFLX.O, Procter & Gamble Co PG.N and Travelers Companies Inc TRV.N, prompted analysts to raise third-quarter profit growth expectations for S&P 500 companies to 3% from 2.8%, according to Refinitiv data.
However, the estimate is still sharply lower than an 11.1% increase forecast at the start of July.
Shares of electric-vehicle maker Tesla Inc TSLA.O dropped 5.1% as the company flagged persistent logistics challenges, with fourth-quarter deliveries growing by less than the aimed 50%.
The main U.S. indexes have in the last two months been hammered by fears of aggressive interest rate hikes by the Federal Reserve, that have pushed Treasury yields to multi-year highs amid no real signs of U.S. inflation slowing.
The U.S. central bank is expected to deliver its fourth straight 75 basis-point hike in its November meeting, with some even pricing in a full percentage point raise.
Snap Inc SNAP.N rose 1.3% as it is seen kicking off earnings season for tech and social media companies later in the day, with expectations of modest revenue growth across most of the sector as results will be compared with a difficult 2021 when Apple Inc's AAPL.O privacy changes began to upend the advertising industry.
Alphabet Inc GOOGL.O and Meta Platforms Inc META.O, which make majority of their revenues from digital ad sales, edged higher ahead of results next week.
At 7:40 a.m. ET, Dow e-minis 1YMcv1 were up 117 points, or 0.38%, S&P 500 e-minis EScv1 were up 6 points, or 0.16%, and Nasdaq 100 e-minis NQcv1 were down 8.5 points, or 0.08%.
(Reporting by Ankika Biswas & Shreyashi Sanyal; Editing by Anil D'Silva and Arun Koyyur)
((Ankika.Biswas@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group Inc AAL.O also expects to report a profit in the December quarter above Wall Street estimates, pushing its shares up 2.9%. By Shreyashi Sanyal Oct 20 (Reuters) - Futures tracking the Dow and S&P 500 gained on Thursday as positive forecasts from IBM and AT&T helped offset declines from Tesla after it warned of missing its vehicle delivery target this year. IBM Corp IBM.N rose 3.3% in premarket trading, leading the advance among Dow components after the software and IT services company beat quarterly earnings estimates on Wednesday and said it expects to exceed full-year revenue growth targets.
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American Airlines Group Inc AAL.O also expects to report a profit in the December quarter above Wall Street estimates, pushing its shares up 2.9%. IBM Corp IBM.N rose 3.3% in premarket trading, leading the advance among Dow components after the software and IT services company beat quarterly earnings estimates on Wednesday and said it expects to exceed full-year revenue growth targets. ET, Dow e-minis 1YMcv1 were up 117 points, or 0.38%, S&P 500 e-minis EScv1 were up 6 points, or 0.16%, and Nasdaq 100 e-minis NQcv1 were down 8.5 points, or 0.08%.
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American Airlines Group Inc AAL.O also expects to report a profit in the December quarter above Wall Street estimates, pushing its shares up 2.9%. IBM Corp IBM.N rose 3.3% in premarket trading, leading the advance among Dow components after the software and IT services company beat quarterly earnings estimates on Wednesday and said it expects to exceed full-year revenue growth targets. The positive forecasts arrive after upbeat results by big U.S. banks, Netflix Inc NFLX.O, Procter & Gamble Co PG.N and Travelers Companies Inc TRV.N, prompted analysts to raise third-quarter profit growth expectations for S&P 500 companies to 3% from 2.8%, according to Refinitiv data.
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American Airlines Group Inc AAL.O also expects to report a profit in the December quarter above Wall Street estimates, pushing its shares up 2.9%. By Shreyashi Sanyal Oct 20 (Reuters) - Futures tracking the Dow and S&P 500 gained on Thursday as positive forecasts from IBM and AT&T helped offset declines from Tesla after it warned of missing its vehicle delivery target this year. IBM Corp IBM.N rose 3.3% in premarket trading, leading the advance among Dow components after the software and IT services company beat quarterly earnings estimates on Wednesday and said it expects to exceed full-year revenue growth targets.
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3164.0
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2022-10-19 00:00:00 UTC
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Noteworthy Wednesday Option Activity: SLB, MNST, AAL
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AAL
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https://www.nasdaq.com/articles/noteworthy-wednesday-option-activity%3A-slb-mnst-aal
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nan
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nan
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Schlumberger Ltd (Symbol: SLB), where a total volume of 77,518 contracts has been traded thus far today, a contract volume which is representative of approximately 7.8 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 56.4% of SLB's average daily trading volume over the past month, of 13.7 million shares. Particularly high volume was seen for the $46 strike call option expiring October 21, 2022, with 11,441 contracts trading so far today, representing approximately 1.1 million underlying shares of SLB. Below is a chart showing SLB's trailing twelve month trading history, with the $46 strike highlighted in orange:
Monster Beverage Corp (Symbol: MNST) saw options trading volume of 14,669 contracts, representing approximately 1.5 million underlying shares or approximately 55.1% of MNST's average daily trading volume over the past month, of 2.7 million shares. Particularly high volume was seen for the $110 strike call option expiring December 16, 2022, with 2,250 contracts trading so far today, representing approximately 225,000 underlying shares of MNST. Below is a chart showing MNST's trailing twelve month trading history, with the $110 strike highlighted in orange:
And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 221,979 contracts, representing approximately 22.2 million underlying shares or approximately 55.1% of AAL's average daily trading volume over the past month, of 40.3 million shares. Particularly high volume was seen for the $14.50 strike call option expiring October 21, 2022, with 28,579 contracts trading so far today, representing approximately 2.9 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $14.50 strike highlighted in orange:
For the various different available expirations for SLB options, MNST options, or AAL options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Particularly high volume was seen for the $14.50 strike call option expiring October 21, 2022, with 28,579 contracts trading so far today, representing approximately 2.9 million underlying shares of AAL. Below is a chart showing MNST's trailing twelve month trading history, with the $110 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 221,979 contracts, representing approximately 22.2 million underlying shares or approximately 55.1% of AAL's average daily trading volume over the past month, of 40.3 million shares. Below is a chart showing AAL's trailing twelve month trading history, with the $14.50 strike highlighted in orange: For the various different available expirations for SLB options, MNST options, or AAL options, visit StockOptionsChannel.com.
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Below is a chart showing MNST's trailing twelve month trading history, with the $110 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 221,979 contracts, representing approximately 22.2 million underlying shares or approximately 55.1% of AAL's average daily trading volume over the past month, of 40.3 million shares. Particularly high volume was seen for the $14.50 strike call option expiring October 21, 2022, with 28,579 contracts trading so far today, representing approximately 2.9 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $14.50 strike highlighted in orange: For the various different available expirations for SLB options, MNST options, or AAL options, visit StockOptionsChannel.com.
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Below is a chart showing MNST's trailing twelve month trading history, with the $110 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 221,979 contracts, representing approximately 22.2 million underlying shares or approximately 55.1% of AAL's average daily trading volume over the past month, of 40.3 million shares. Particularly high volume was seen for the $14.50 strike call option expiring October 21, 2022, with 28,579 contracts trading so far today, representing approximately 2.9 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $14.50 strike highlighted in orange: For the various different available expirations for SLB options, MNST options, or AAL options, visit StockOptionsChannel.com.
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Particularly high volume was seen for the $14.50 strike call option expiring October 21, 2022, with 28,579 contracts trading so far today, representing approximately 2.9 million underlying shares of AAL. Below is a chart showing MNST's trailing twelve month trading history, with the $110 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 221,979 contracts, representing approximately 22.2 million underlying shares or approximately 55.1% of AAL's average daily trading volume over the past month, of 40.3 million shares. Below is a chart showing AAL's trailing twelve month trading history, with the $14.50 strike highlighted in orange: For the various different available expirations for SLB options, MNST options, or AAL options, visit StockOptionsChannel.com.
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3165.0
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2022-10-19 00:00:00 UTC
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Mining giants warn Chile mining royalty would impact investment
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AAL
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https://www.nasdaq.com/articles/mining-giants-warn-chile-mining-royalty-would-impact-investment
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nan
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nan
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SANTIAGO, Oct 19 (Reuters) - Mining giants BHP BHP.AX and Antofagasta Minerals said on Wednesday that a mining royalty bill in Chile would affect competitiveness and encourage miners to reevaluate investments.
Chile is the world's top copper producing nation and the government has proposed a royalty with a portion based on sales and the other subject to profitability, which progresses as the price of copper increases.
Speaking to Chile's Congress, BHP's vice president of corporate affairs for the Americas, Rene Muga, said the current bill would impact the company's competitiveness abroad and negatively impact its own operations in other countries.
"It is our duty to warn that in a highly competitive global world, Chile cannot disproportionately increase its taxes without significantly affecting investment levels," Muga said.
He added that the initiative would lead the mining company to reconsider an announced investment portfolio of $10 billion, since it was designed "without considering such an excessive tax burden increase."
For his part, the vice president of corporate affairs of Antofagasta Minerals ANTO.L , Rene Aguilar, pointed out that with the proposed changes, total taxation would exceed 48%, putting it on par with high-tax countries such as Congo, Mongolia and Zambia.
"It is essential to consider the depreciation of investments in the calculation of mining income," Aguilar said. "This is a very relevant point, especially for groups like Antofagasta, which has a potential investment portfolio of close to $5 billion for the coming years."
Both company representatives acknowledged that there's room for more contribution from the mining sector, but pushed for collaborative agreements that maintain business sustainability.
Other global mining giants like state-owned Codelco, Glencore GLEN.L, Anglo American AAL.L and Freeport-McMoRan FCX.N also operate in Chile.
Chile propone subir impuestos a grandes mineras de cobre en plan de reforma tributaria
Mineras en Chile esperan se recupere confianza tras referendo sobre nueva constitución
Aumento de impuestos propuesto para las mineras chilenas dañaría competitividad y crecimiento: Fitch
(Report by Fabian Cambero; Writing by Alexander Villegas Editing by Alistair Bell)
((fabian.cambero@thomsonreuters.com; twitter: @fab_reuters; +569 62479675;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Other global mining giants like state-owned Codelco, Glencore GLEN.L, Anglo American AAL.L and Freeport-McMoRan FCX.N also operate in Chile. "It is our duty to warn that in a highly competitive global world, Chile cannot disproportionately increase its taxes without significantly affecting investment levels," Muga said. He added that the initiative would lead the mining company to reconsider an announced investment portfolio of $10 billion, since it was designed "without considering such an excessive tax burden increase."
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Other global mining giants like state-owned Codelco, Glencore GLEN.L, Anglo American AAL.L and Freeport-McMoRan FCX.N also operate in Chile. Speaking to Chile's Congress, BHP's vice president of corporate affairs for the Americas, Rene Muga, said the current bill would impact the company's competitiveness abroad and negatively impact its own operations in other countries. "It is our duty to warn that in a highly competitive global world, Chile cannot disproportionately increase its taxes without significantly affecting investment levels," Muga said.
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Other global mining giants like state-owned Codelco, Glencore GLEN.L, Anglo American AAL.L and Freeport-McMoRan FCX.N also operate in Chile. SANTIAGO, Oct 19 (Reuters) - Mining giants BHP BHP.AX and Antofagasta Minerals said on Wednesday that a mining royalty bill in Chile would affect competitiveness and encourage miners to reevaluate investments. Speaking to Chile's Congress, BHP's vice president of corporate affairs for the Americas, Rene Muga, said the current bill would impact the company's competitiveness abroad and negatively impact its own operations in other countries.
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Other global mining giants like state-owned Codelco, Glencore GLEN.L, Anglo American AAL.L and Freeport-McMoRan FCX.N also operate in Chile. SANTIAGO, Oct 19 (Reuters) - Mining giants BHP BHP.AX and Antofagasta Minerals said on Wednesday that a mining royalty bill in Chile would affect competitiveness and encourage miners to reevaluate investments. Chile is the world's top copper producing nation and the government has proposed a royalty with a portion based on sales and the other subject to profitability, which progresses as the price of copper increases.
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3166.0
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2022-10-19 00:00:00 UTC
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The Zacks Analyst Blog Highlights Delta Air Lines, Alaska Air Group, American Airlines and Union Pacific
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AAL
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https://www.nasdaq.com/articles/the-zacks-analyst-blog-highlights-delta-air-lines-alaska-air-group-american-airlines-and
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nan
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For Immediate Release
Chicago, IL – October 19, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Delta Air Lines, Inc. DAL, Alaska Air Group ALK, American Airlines AAL and Union Pacific Corp. UNP.
Here are highlights from Tuesday’s Analyst Blog:
Transportation Stocks Q3 Earnings Roster: ALK, AAL and UNP
The Zacks Transportation sector is widely diversified in nature. It houses airlines, railroads, shipping and trucking companies to name a few.
Only one S&P 500 transportation company, namely Delta Air Lines, Inc. has reported third-quarter 2022 numbers so far. Delta’s revenues of $13,975 million lagged the Zacks Consensus Estimate of $14,157.2 million but increased more than 52% year over year on the back of high air-travel demand. The buoyant air-travel demand scenario is also evident from the total operating revenue increase of 11% from third-quarter 2019 (pre-coronavirus) levels.
Despite headwinds like inflation-induced market volatility, supply-chain woes and high-fuel costs, which have dented the prospects of the Transportation sector, the sector players have been aided by some positives. Owing to the uptick in economic activities, freight demand has been strong despite minor hiccups. This supported growth of transportation players like railroad operators. Following the relaxation of COVID-related restrictions, people resumed their daily activities and air-travel demand rebounded very strongly. This was a major tailwind for the airline companies in the sector. Even though economies have reopened, consumers’ urge for online shopping remains. This continued strength in e-commerce demand also bodes well.
The positivity surrounding the sector is evident from the latest Earnings Preview report, which indicates that stocks in the Transportation sector are expected to report year-over-year growth of 48.4% earnings and 20.6% revenues in third-quarter 2022.
Given this encouraging backdrop, let’s discuss three Transportation sector stocks —Alaska Air Group, American Airlines and Union Pacific Corp., which are scheduled to release their third-quarter 2022 earnings reports on Oct 20.
Our quantitative model suggests that the combination of the following two key ingredients — a positive Earnings ESP and a Zacks Rank #3 (Hold) or better — increases the odds of a positive earnings surprise. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Let’s delve deeper.
Alaska Air’s results are likely to reflect a continued recovery in air-travel demand and an improvement in passenger revenues. Moreover, its top-line guidance is encouraging. ALK expects total revenues to increase 16-19% from the third quarter of 2019 actuals. The passenger load factor is expected to be in the range of 85-88%.
However, high fuel costs are likely to remain an overhang on Alaska Air’s bottom line. The carrier expects its third-quarter economic fuel cost to be in the $3.79-$3.89 range. The Zacks Consensus Estimate for economic fuel cost per gallon is pegged at $3.81, indicating 85.8% growth year over year.
Our proven model does not conclusively predict an earnings beat for Alaska Air this season as ALK has an Earnings ESP of -0.73% and a Zacks Rank #3 at present.
Alaska Air Group, Inc. price-eps-surprise | Alaska Air Group, Inc. Quote
American Airlines revenues are likely to have been aided by buoyant air-travel demand and an improvement in passenger revenues. Moreover, AAL’s bullish top-line guidance is also encouraging. Total revenues in the third quarter of 2022 are anticipated to be roughly 10-12%, higher than the level recorded in third-quarter 2019. Management expects TRASM to be 20-24% higher than third-quarter 2019 actuals.
On the flip side, an increase in oil prices continues to remain an overhang on AAL’s bottom line. The fuel cost per gallon in third-quarter 2022 is expected in the $3.73-$3.78 band.
Our proven model does not conclusively predict a beat for American Airlines this earnings season as AAL has an Earnings ESP of -1.79% and a Zacks Rank #3 at present. At the time, the third-quarter earnings preview article was issued, AAL had an Earnings ESP of -12.16% and a Zacks Rank #3.
American Airlines Group Inc. price-eps-surprise | American Airlines Group Inc. Quote
Strong freight demand is expected to have boosted Union Pacific’s freight revenues in the third quarter. On the flip side, escalating operating expenses, primarily due to rising fuel prices, remain an overhang on Union Pacific’s bottom line. The Zacks Consensus Estimate for average fuel price per gallon consumed is pegged at $4.09, indicating growth of 72.5% from the year-ago reported figure.
Despite high fuel price concerns, our proven model predicts an earnings beat for Union Pacific this earnings season as UNP has an Earnings ESP of +0.67% and a Zacks Rank #3 at present.
Earlier, the third-quarter earnings preview article showed that Union Pacific was unlikely to beat on earnings this quarter. At that time, UNP had an Earnings ESP of -0.86% and a Zacks Rank #3. However, estimates changed thereafter and we are more certain of a beat now.
Union Pacific Corporation price-eps-surprise | Union Pacific Corporation Quote
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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Delta Air Lines, Inc. (DAL): Free Stock Analysis Report
Union Pacific Corporation (UNP): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
Alaska Air Group, Inc. (ALK): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Stocks recently featured in the blog include: Delta Air Lines, Inc. DAL, Alaska Air Group ALK, American Airlines AAL and Union Pacific Corp. UNP. Here are highlights from Tuesday’s Analyst Blog: Transportation Stocks Q3 Earnings Roster: ALK, AAL and UNP The Zacks Transportation sector is widely diversified in nature. Moreover, AAL’s bullish top-line guidance is also encouraging.
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Stocks recently featured in the blog include: Delta Air Lines, Inc. DAL, Alaska Air Group ALK, American Airlines AAL and Union Pacific Corp. UNP. Here are highlights from Tuesday’s Analyst Blog: Transportation Stocks Q3 Earnings Roster: ALK, AAL and UNP The Zacks Transportation sector is widely diversified in nature. Moreover, AAL’s bullish top-line guidance is also encouraging.
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Stocks recently featured in the blog include: Delta Air Lines, Inc. DAL, Alaska Air Group ALK, American Airlines AAL and Union Pacific Corp. UNP. Here are highlights from Tuesday’s Analyst Blog: Transportation Stocks Q3 Earnings Roster: ALK, AAL and UNP The Zacks Transportation sector is widely diversified in nature. Moreover, AAL’s bullish top-line guidance is also encouraging.
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Stocks recently featured in the blog include: Delta Air Lines, Inc. DAL, Alaska Air Group ALK, American Airlines AAL and Union Pacific Corp. UNP. Here are highlights from Tuesday’s Analyst Blog: Transportation Stocks Q3 Earnings Roster: ALK, AAL and UNP The Zacks Transportation sector is widely diversified in nature. Moreover, AAL’s bullish top-line guidance is also encouraging.
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3167.0
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2022-10-18 00:00:00 UTC
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U.S. approves Delta, United bids to delay restart of Havana flights
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AAL
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https://www.nasdaq.com/articles/u.s.-approves-delta-united-bids-to-delay-restart-of-havana-flights
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nan
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nan
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By David Shepardson
WASHINGTON, Oct 18 (Reuters) - The U.S. Transportation Department (USDOT) on Tuesday said it would allow Delta Air Lines DAL.N and United Airlines UAL.O to temporarily delay resuming flights to Cuba as they work to address logistical issues.
United last month said it has been working for months to relaunch Havana service but faces hurdles, while Delta also said it was facing issues in reestablishing service.
USDOT said it would require United to resume service no later than Dec. 1 and Delta no later than March 26.
United previously flew seven flights weekly to Havana from its Houston and Newark hubs. It said in September it needs to "undertake significant work including re-negotiating multiple contracts with service providers that have lapsed, building out necessary infrastructure in Terminal 3 at Havana’s airport where United is being relocated."
Delta has the right to fly 21 weekly flights between the United States and Cuba, made up of 14 for Miami and 7 Atlanta flights. Delta suspended the flights during the COVID-19 pandemic and initially plans to resume Miami flights.
Delta said it is working to relaunch flights but "needs additional time to ensure reintroduction of safe, efficient, and sustainable service to Havana."
Delta expects it could take up to six months to re-establish necessary IT infrastructure to handle passenger needs in Havana and faces "ongoing challenges in securing visas for personnel to travel to Cuba" for both pre and post launch staffing.
Last month the Biden administration agreed to expand U.S. flights to Havana, adding 13 weekly American Airlines AAL.O departures from Miami and a weekly JetBlue Airways JBLU.O departure from Fort Lauderdale, on top of the typical six daily American Airlines flights and three JetBlue flights weekdays to Havana from the Florida airports.
In June, USDOT lifted restrictions on flights to Cuba imposed under former President Donald Trump, including ending a prohibition on U.S. airline flights to smaller Cuban airports.
In July, American Airlines received permission to resume service to some smaller Cuban airports.
(Reporting by David Shepardson; Editing by Mark Porter and Chris Reese)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Last month the Biden administration agreed to expand U.S. flights to Havana, adding 13 weekly American Airlines AAL.O departures from Miami and a weekly JetBlue Airways JBLU.O departure from Fort Lauderdale, on top of the typical six daily American Airlines flights and three JetBlue flights weekdays to Havana from the Florida airports. By David Shepardson WASHINGTON, Oct 18 (Reuters) - The U.S. Transportation Department (USDOT) on Tuesday said it would allow Delta Air Lines DAL.N and United Airlines UAL.O to temporarily delay resuming flights to Cuba as they work to address logistical issues. It said in September it needs to "undertake significant work including re-negotiating multiple contracts with service providers that have lapsed, building out necessary infrastructure in Terminal 3 at Havana’s airport where United is being relocated."
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Last month the Biden administration agreed to expand U.S. flights to Havana, adding 13 weekly American Airlines AAL.O departures from Miami and a weekly JetBlue Airways JBLU.O departure from Fort Lauderdale, on top of the typical six daily American Airlines flights and three JetBlue flights weekdays to Havana from the Florida airports. United last month said it has been working for months to relaunch Havana service but faces hurdles, while Delta also said it was facing issues in reestablishing service. In June, USDOT lifted restrictions on flights to Cuba imposed under former President Donald Trump, including ending a prohibition on U.S. airline flights to smaller Cuban airports.
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Last month the Biden administration agreed to expand U.S. flights to Havana, adding 13 weekly American Airlines AAL.O departures from Miami and a weekly JetBlue Airways JBLU.O departure from Fort Lauderdale, on top of the typical six daily American Airlines flights and three JetBlue flights weekdays to Havana from the Florida airports. By David Shepardson WASHINGTON, Oct 18 (Reuters) - The U.S. Transportation Department (USDOT) on Tuesday said it would allow Delta Air Lines DAL.N and United Airlines UAL.O to temporarily delay resuming flights to Cuba as they work to address logistical issues. United last month said it has been working for months to relaunch Havana service but faces hurdles, while Delta also said it was facing issues in reestablishing service.
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Last month the Biden administration agreed to expand U.S. flights to Havana, adding 13 weekly American Airlines AAL.O departures from Miami and a weekly JetBlue Airways JBLU.O departure from Fort Lauderdale, on top of the typical six daily American Airlines flights and three JetBlue flights weekdays to Havana from the Florida airports. United last month said it has been working for months to relaunch Havana service but faces hurdles, while Delta also said it was facing issues in reestablishing service. Delta has the right to fly 21 weekly flights between the United States and Cuba, made up of 14 for Miami and 7 Atlanta flights.
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2022-10-18 00:00:00 UTC
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Transportation Stocks' Oct 20 Q3 Earnings Roster: ALK, AAL, UNP
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AAL
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https://www.nasdaq.com/articles/transportation-stocks-oct-20-q3-earnings-roster%3A-alk-aal-unp
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The Zacks Transportation sector is widely diversified in nature. It houses airlines, railroads, shipping and trucking companies to name a few.
Only one S&P 500 transportation company, namely Delta Air Lines, Inc. DAL has reported third-quarter 2022 numbers so far. Delta’s revenues of $13,975 million lagged the Zacks Consensus Estimate of $14,157.2 million but increased more than 52% year over year on the back of high air-travel demand. The buoyant air-travel demand scenario is also evident from the total operating revenue increase of 11% from third-quarter 2019 (pre-coronavirus) levels.
Despite headwinds like inflation-induced market volatility, supply-chain woes and high-fuel costs, which have dented the prospects of the Transportation sector, the sector players have been aided by some positives. Owing to the uptick in economic activities, freight demand has been strong despite minor hiccups. This supported growth of transportation players like railroad operators. Following the relaxation of COVID-related restrictions, people resumed their daily activities and air-travel demand rebounded very strongly. This was a major tailwind for the airline companies in the sector. Even though economies have reopened, consumers’ urge for online shopping remains. This continued strength in e-commerce demand also bodes well.
The positivity surrounding the sector is evident from the latest Earnings Preview report, which indicates that stocks in the Transportation sector are expected to report year-over-year growth of 48.4% earnings and 20.6% revenues in third-quarter 2022.
Given this encouraging backdrop, let’s discuss three Transportation sector stocks —Alaska Air Group ALK, American Airlines AAL and Union Pacific Corporation UNP, which are scheduled to release their third-quarter 2022 earnings reports on Oct 20.
Our quantitative model suggests that the combination of the following two key ingredients — a positive Earnings ESP and a Zacks Rank #3 (Hold) or better — increases the odds of a positive earnings surprise. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Let’s delve deeper.
Alaska Air’s results are likely to reflect a continued recovery in air-travel demand and an improvement in passenger revenues. Moreover, its top-line guidance is encouraging. ALK expects total revenues to increase 16-19% from the third quarter of 2019 actuals. The passenger load factor is expected to be in the range of 85-88%.
However, high fuel costs are likely to remain an overhang on Alaska Air’s bottom line. The carrier expects its third-quarter economic fuel cost to be in the $3.79-$3.89 range. The Zacks Consensus Estimate for economic fuel cost per gallon is pegged at $3.81, indicating 85.8% growth year over year.
Our proven model does not conclusively predict an earnings beat for Alaska Air this season as ALK has an Earnings ESP of -0.73% and a Zacks Rank #3 at present.
Alaska Air Group, Inc. Price and EPS Surprise
Alaska Air Group, Inc. price-eps-surprise | Alaska Air Group, Inc. Quote
American Airlines revenues are likely to have been aided by buoyant air-travel demand and an improvement in passenger revenues. Moreover, AAL’s bullish top-line guidance is also encouraging. Total revenues in the third quarter of 2022 are anticipated to be roughly 10-12%, higher than the level recorded in third-quarter 2019. Management expects TRASM to be 20-24% higher than third-quarter 2019 actuals.
On the flip side, an increase in oil prices continues to remain an overhang on AAL’s bottom line. The fuel cost per gallon in third-quarter 2022 is expected in the $3.73-$3.78 band.
Our proven model does not conclusively predict a beat for American Airlines this earnings season as AAL has an Earnings ESP of -1.79% and a Zacks Rank #3 at present. At the time, the third-quarter earnings preview article was issued, AAL had an Earnings ESP of -12.16% and a Zacks Rank #3.
American Airlines Group Inc. Price and EPS Surprise
American Airlines Group Inc. price-eps-surprise | American Airlines Group Inc. Quote
Strong freight demand is expected to have boosted Union Pacific’s freight revenues in the third quarter. On the flip side, escalating operating expenses, primarily due to rising fuel prices, remain an overhang on Union Pacific’s bottom line. The Zacks Consensus Estimate for average fuel price per gallon consumed is pegged at $4.09, indicating growth of 72.5% from the year-ago reported figure.
Despite high fuel price concerns, our proven model predicts an earnings beat for Union Pacific this earnings season as UNP has an Earnings ESP of +0.67% and a Zacks Rank #3 at present.
Earlier, the third-quarter earnings preview article showed that Union Pacific was unlikely to beat on earnings this quarter. At that time, UNP had an Earnings ESP of -0.86% and a Zacks Rank #3. However, estimates changed thereafter and we are more certain of a beat now.
Union Pacific Corporation Price and EPS Surprise
Union Pacific Corporation price-eps-surprise | Union Pacific Corporation Quote
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Just Released: Zacks Unveils the Top 5 EV Stocks for 2022
For several months now, electric vehicles have been disrupting the $82 billion automotive industry. And that disruption is only getting bigger thanks to sky-high gas prices. Even titans in the financial industry including George Soros, Jeff Bezos, and Ray Dalio have invested in this unstoppable wave. You don't want to be sitting on your hands while EV stocks break out and climb to new highs. In a new free report, Zacks is revealing the top 5 EV stocks for investors. Next year, don't look back on today wishing you had taken advantage of this opportunity.
>>Send me my free report revealing the top 5 EV stocks
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Delta Air Lines, Inc. (DAL): Free Stock Analysis Report
Union Pacific Corporation (UNP): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
Alaska Air Group, Inc. (ALK): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Given this encouraging backdrop, let’s discuss three Transportation sector stocks —Alaska Air Group ALK, American Airlines AAL and Union Pacific Corporation UNP, which are scheduled to release their third-quarter 2022 earnings reports on Oct 20. Moreover, AAL’s bullish top-line guidance is also encouraging. On the flip side, an increase in oil prices continues to remain an overhang on AAL’s bottom line.
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Given this encouraging backdrop, let’s discuss three Transportation sector stocks —Alaska Air Group ALK, American Airlines AAL and Union Pacific Corporation UNP, which are scheduled to release their third-quarter 2022 earnings reports on Oct 20. Moreover, AAL’s bullish top-line guidance is also encouraging. On the flip side, an increase in oil prices continues to remain an overhang on AAL’s bottom line.
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Given this encouraging backdrop, let’s discuss three Transportation sector stocks —Alaska Air Group ALK, American Airlines AAL and Union Pacific Corporation UNP, which are scheduled to release their third-quarter 2022 earnings reports on Oct 20. Moreover, AAL’s bullish top-line guidance is also encouraging. On the flip side, an increase in oil prices continues to remain an overhang on AAL’s bottom line.
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Given this encouraging backdrop, let’s discuss three Transportation sector stocks —Alaska Air Group ALK, American Airlines AAL and Union Pacific Corporation UNP, which are scheduled to release their third-quarter 2022 earnings reports on Oct 20. Moreover, AAL’s bullish top-line guidance is also encouraging. On the flip side, an increase in oil prices continues to remain an overhang on AAL’s bottom line.
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3169.0
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2022-10-18 00:00:00 UTC
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JetBlue Airways (JBLU) Reports Next Week: Wall Street Expects Earnings Growth
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AAL
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https://www.nasdaq.com/articles/jetblue-airways-jblu-reports-next-week%3A-wall-street-expects-earnings-growth
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nan
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Wall Street expects a year-over-year increase in earnings on higher revenues when JetBlue Airways (JBLU) reports results for the quarter ended September 2022. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
The earnings report, which is expected to be released on October 25, 2022, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on theearnings callwill mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus Estimate
This airline is expected to post quarterly earnings of $0.24 per share in its upcoming report, which represents a year-over-year change of +300%.
Revenues are expected to be $2.56 billion, up 29.8% from the year-ago quarter.
Estimate Revisions Trend
The consensus EPS estimate for the quarter has been revised 86.96% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Earnings Whisper
Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for JetBlue?
For JetBlue, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +1.67%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination indicates that JetBlue will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?
While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that JetBlue would post a loss of $0.11 per share when it actually produced a loss of $0.47, delivering a surprise of -327.27%.
Over the last four quarters, the company has beaten consensus EPS estimates three times.
Bottom Line
An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
JetBlue appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
An Industry Player's Expected Results
Among the stocks in the Zacks Transportation - Airline industry, American Airlines (AAL) is soon expected to post earnings of $0.53 per share for the quarter ended September 2022. This estimate indicates a year-over-year change of +153.5%. This quarter's revenue is expected to be $13.28 billion, up 48.1% from the year-ago quarter.
The consensus EPS estimate for American Airlines has been revised 108% higher over the last 30 days to the current level. However, a lower Most Accurate Estimate has resulted in an Earnings ESP of -1.79%.
This Earnings ESP, combined with its Zacks Rank #3 (Hold), makes it difficult to conclusively predict that American Airlines will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Just Released: Zacks Unveils the Top 5 EV Stocks for 2022
For several months now, electric vehicles have been disrupting the $82 billion automotive industry. And that disruption is only getting bigger thanks to sky-high gas prices. Even titans in the financial industry including George Soros, Jeff Bezos, and Ray Dalio have invested in this unstoppable wave. You don't want to be sitting on your hands while EV stocks break out and climb to new highs. In a new free report, Zacks is revealing the top 5 EV stocks for investors. Next year, don't look back on today wishing you had taken advantage of this opportunity.
>>Send me my free report revealing the top 5 EV stocks
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
JetBlue Airways Corporation (JBLU): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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An Industry Player's Expected Results Among the stocks in the Zacks Transportation - Airline industry, American Airlines (AAL) is soon expected to post earnings of $0.53 per share for the quarter ended September 2022. American Airlines Group Inc. (AAL): Free Stock Analysis Report While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
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An Industry Player's Expected Results Among the stocks in the Zacks Transportation - Airline industry, American Airlines (AAL) is soon expected to post earnings of $0.53 per share for the quarter ended September 2022. American Airlines Group Inc. (AAL): Free Stock Analysis Report Wall Street expects a year-over-year increase in earnings on higher revenues when JetBlue Airways (JBLU) reports results for the quarter ended September 2022.
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An Industry Player's Expected Results Among the stocks in the Zacks Transportation - Airline industry, American Airlines (AAL) is soon expected to post earnings of $0.53 per share for the quarter ended September 2022. American Airlines Group Inc. (AAL): Free Stock Analysis Report The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate.
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An Industry Player's Expected Results Among the stocks in the Zacks Transportation - Airline industry, American Airlines (AAL) is soon expected to post earnings of $0.53 per share for the quarter ended September 2022. American Airlines Group Inc. (AAL): Free Stock Analysis Report Zacks Consensus Estimate This airline is expected to post quarterly earnings of $0.24 per share in its upcoming report, which represents a year-over-year change of +300%.
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2022-10-18 00:00:00 UTC
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What Are The Best Stocks To Invest In? 3 Growth Stocks For Your List
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AAL
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https://www.nasdaq.com/articles/what-are-the-best-stocks-to-invest-in-3-growth-stocks-for-your-list
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nan
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Growth stocks are a type of equity investment that refers to stocks of companies that are projected to experience high rates of growth. Growth stocks typically have a higher price-to-earnings (P/E) ratio than the market average, as investors are willing to pay more for shares in a company with strong growth prospects.
While growth stocks can offer the potential for large returns, they also tend to be more volatile than other types of stocks and may be more vulnerable to economic downturns. As a result, investors should carefully research any growth stock before making an investment.
Growth Stocks vs Value Stocks
When it comes to stock investing, there are two main camps: growth investors and value investors. Growth investors focus on stocks that have the potential for high capital appreciation, while value investors seek out stocks that they believe are underpriced relative to their intrinsic value. Both approaches can be successful, but they tend to produce different results over time.
Growth stocks tend to outperform during bull markets, while value stocks have a tendency to fare better during periods of market uncertainty. As a result, savvy investors typically maintain a portfolio that includes both growth and value stocks in order to maximize returns and minimize risk. With this in mind, let’s dive into three top growth stocks to watch in the stock market this week.
Growth Stocks To Invest In [Or Avoid] Right Now
Amazon.com Inc. (NASDAQ: AMZN)
American Airlines Group Inc. (NASDAQ: AAL)
Netflix Inc. (NASDAQ: NFLX)
1. Amazon (AMZN Stock)
Leading off today, Amazon.com, Inc. (AMZN) is an American multinational technology company. In detail, the company focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. Moreover, Amazon is considered one of the Big Four tech companies, alongside Google (NASDAQ: GOOGL), Apple (NASDAQ: AAPL), and Meta Platforms (NASDAQ: META). For a sense of scale, Amazon is the world’s largest online retailer, as well as a leading provider of cloud computing services.
AMZN Recent Stock News
Last week, Amazon announced it will be releasing its third-quarter 2022 financial results on Thursday, October 27, 2022, after the close of the U.S. market. While we wait, let’s take a look back at how Amazon did in the 2nd quarter of 2022. Back in July, the company reported second-quarter 2022 earnings of $0.10 per share on revenue of $121.1 billion.
What’s more, in the news release, the company also said it expects upbeat guidance for Q3 2022. Specifically, Amazon said that it is estimating third quarter 2022 revenue to come in between $125 billion to $130 billion.
AMZN Stock Chart
So far in 2022, shares of Amazon have dropped over 33%. Meanwhile, on Tuesday early morning AMZN stock is up over 4% pre-market at $119.05 per share.
Source: TD Ameritrade TOS
[Read More] 3 Fertilizer Stocks To Watch In The Stock Market Today
2. American Airlines (AAL Stock)
Next, American Airlines Group Inc. (AAL) is one of the largest airlines in the world, with a fleet of over 900 aircraft. For a sense of scale, the company operates an average of 6,700 flights daily to more than 350 destinations across 50 countries.
AAL Recent Stock News
Earlier this month, American Airlines Group announced it will report its 3rd quarter 2022 financial results on Thursday, October 20, 2022. In other news, just last week the company also announced it has made an equity investment in the green hydrogen company Universal Hydrogen Co.
In detail, Universal Hydrogen Co is building a green hydrogen distribution and logistics network for the aviation industry. As a result, this investment endorses American Airlines’ mission to shrink greenhouse gas (GHG) emissions by 2035 and achieve net zero GHG by 2050.
Furthermore, American’s Chief Financial Officer Derek Kerr commented, “This technology has the potential to be a game-changer on the industry’s path to zero-emission flight. As the world’s largest airline, American has a responsibility to exercise leadership in making aviation sustainable. Our investment in Universal Hydrogen represents a vote of confidence for green hydrogen as a key element of a sustainable future for our industry.“
AAL Stock Chart
Meanwhile, during Tuesday morning’s trading action, shares of AAL are up over 4% at $13.79 a share.
Source: TD Ameritrade TOS
[Read More] Best Lithium Battery Stocks To Buy Now? 4 To Know
3. Netflix (NFLX Stock)
Last but least, we have streaming giant Netflix Inc. (NFLX). For starters, Netflix is a subscription-based streaming service that offers online streaming from a library of films and television series. This includes those produced in-house. Moreover, Netflix has over 222 million paid subscribers throughout 190 countries worldwide. Additionally, the company continues to invest heavily in original content. Also, they are now one of the largest producers of original programming.
NFLX Recent Stock News
In recent news, Netflix is set to announce its third-quarter 2022 financial results and business outlook today, Tuesday, October 18, 2022, after the close of the U.S. Market. For a refresher, in the second quarter of 2022 NFLX reported earnings of $3.20 a share, along with revenue of $7.97 billion.
NFLX Stock Chart
Continuing on, over the last 5 trading days, shares of NFLX stock have begun to rebound 14.67%. Aside from that, on Tuesday morning, Netflix stock is up another 1.21% at $248.08 per share.
Source: TD Ameritrade TOS
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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AAL Recent Stock News Earlier this month, American Airlines Group announced it will report its 3rd quarter 2022 financial results on Thursday, October 20, 2022. Growth Stocks To Invest In [Or Avoid] Right Now Amazon.com Inc. (NASDAQ: AMZN) American Airlines Group Inc. (NASDAQ: AAL) Netflix Inc. (NASDAQ: NFLX) 1. American Airlines (AAL Stock) Next, American Airlines Group Inc. (AAL) is one of the largest airlines in the world, with a fleet of over 900 aircraft.
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Growth Stocks To Invest In [Or Avoid] Right Now Amazon.com Inc. (NASDAQ: AMZN) American Airlines Group Inc. (NASDAQ: AAL) Netflix Inc. (NASDAQ: NFLX) 1. AAL Recent Stock News Earlier this month, American Airlines Group announced it will report its 3rd quarter 2022 financial results on Thursday, October 20, 2022. American Airlines (AAL Stock) Next, American Airlines Group Inc. (AAL) is one of the largest airlines in the world, with a fleet of over 900 aircraft.
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Growth Stocks To Invest In [Or Avoid] Right Now Amazon.com Inc. (NASDAQ: AMZN) American Airlines Group Inc. (NASDAQ: AAL) Netflix Inc. (NASDAQ: NFLX) 1. American Airlines (AAL Stock) Next, American Airlines Group Inc. (AAL) is one of the largest airlines in the world, with a fleet of over 900 aircraft. AAL Recent Stock News Earlier this month, American Airlines Group announced it will report its 3rd quarter 2022 financial results on Thursday, October 20, 2022.
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Growth Stocks To Invest In [Or Avoid] Right Now Amazon.com Inc. (NASDAQ: AMZN) American Airlines Group Inc. (NASDAQ: AAL) Netflix Inc. (NASDAQ: NFLX) 1. American Airlines (AAL Stock) Next, American Airlines Group Inc. (AAL) is one of the largest airlines in the world, with a fleet of over 900 aircraft. AAL Recent Stock News Earlier this month, American Airlines Group announced it will report its 3rd quarter 2022 financial results on Thursday, October 20, 2022.
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2022-10-17 00:00:00 UTC
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The Zacks Analyst Blog Highlights Delta Air Lines, American Airlines, United Airlines, Gol Linhas and Copa Holdings
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AAL
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https://www.nasdaq.com/articles/the-zacks-analyst-blog-highlights-delta-air-lines-american-airlines-united-airlines-gol
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For Immediate Release
Chicago, IL – October 17, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Delta Air Lines DAL, American Airlines AAL, United Airlines UAL, Gol Linhas GOL and Copa Holdings CPA.
Here are highlights from Friday’s Analyst Blog:
Airline Stock Outlook: Delta's Q3 Earnings & More
On Oct 13, Delta Air Lines kick-started the third-quarter 2022 earnings season in the airline space. This Atlanta-based carrier reported lower-than-expected earnings per share due to high costs and Hurricane Ian–induced disruptions. American Airlines was also in the news when its management upped the revenue growth forecast for the September quarter owing to strong air-travel demand. An expansion update from United Airlines was also available in the past week.
However, Latin American carrier Gol Linhas expects to incur a loss in the third quarter due to high fuel costs even though air-travel demand remains strong. Another Latin American carrier Copa Holdings’ traffic increased in September from the comparable period’s level in 2019 (pre-coronavirus), again reflecting upbeat air-travel demand.
Recap of the Latest Top Stories
1. Delta’s third-quarter 2022 earnings (excluding 42 cents from non-recurring items) of $1.51 per share fell short of the Zacks Consensus Estimate of $1.56. DAL reported earnings of 30 cents per share a year ago, dull in comparison to the current scenario, as air-travel demand was not so buoyant then. In the third quarter of 2022, total revenues increased more than 52% on a year-over-year basis. The same increased 11% from third-quarter 2019 actuals.
The fourth-quarter 2022 adjusted revenue guidance is encouraging and expected to increase in the 5-9% band from the fourth-quarter 2019 actuals, driven by strength in domestic air-travel demand and fast-recovering international travel demand. While air-travel demand is very strong for leisure, business travel is also bouncing back. Operating margin for the fourth quarter is expected in the 9-11% range.
2. American Airlines, currently carrying a Zacks Rank #3 (Hold), expects total revenues for third-quarter 2022 to rise approximately 13% from the third-quarter 2019 actuals (earlier expectation: increase 10-12%). Total revenue per available seat miles (TRASM: a measure of unit revenue) is now anticipated to be 25% higher than the third-quarter 2019 reading (earlier estimate was a 20-24% rise).
Driven by upbeat demand, the pre-tax margin, excluding net special items, is anticipated to be 4.5% compared with the 2-4% band expected earlier. The third-quarter operating margin (excluding net special items) is expected to be roughly 7%. The average fuel cost per gallon forecast is maintained in the $3.73-$3.78 range. However, the guidance for fuel gallons consumed is decreased to 1,031 million from 1,040 million.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
3. For the third quarter of 2022 (detailed results of which will be out on Oct 27), Gol Linhas anticipates EBITDA margin to be approximately 15% and the EBIT margin to be roughly 5%. GOL estimates an average fuel price per liter to be R$ 6.62. Management anticipates a loss per share of R$1.8, indicating a loss Per American Depositary Shares of 70 cents for the third quarter.
Fuel unit costs are anticipated to grow almost 87% from the prior-year actuals, backed by an 89% increase in the average jet fuel price. Passenger unit revenues for the to-be-reported quarter are expected to increase roughly 45% from the year-ago reported figure, driven by upbeat domestic air-travel demand (mainly for leisure) and the gradual recovery in international travel.
Reflecting bullish air-travel demand, GOL’s consolidated traffic in September increased 41.4% from the year-ago level. That story was covered in detail in the previous week’s write-up.
4. In September 2022, Copa Holdings’ traffic, measured in revenue passenger miles (RPMs), increased 3.5% to 1.75 billion from the comparable period’s level in 2019. Increased passenger volume led to this upside. To match upbeat demand, CPA is increasing capacity — measured in available seat miles (ASMs) — which inched up 1.2% from the 2019 level to 2 billion. With traffic growth outpacing capacity expansion, load factor (% of seats filled by passengers) improved 200 basis points (bps) to 86.9% in the last month.
5. United Airlines reportedly decided to add flights to Australian cities with the relaxation of COVID-related travel restrictions and the surge in air-travel demand. UAL plans to fly nonstop from San Francisco International Airport to Brisbane, Melbourne and Sydney; from Los Angeles International Airport to Melbourne and Sydney; and from Houston to Sydney.
Performance
The table above shows that all airline stocks, apart from Gol Linhas, have traded in the green over the five trading days. Gol’s forecast of a third-quarter loss might have induced the southward movement of the stock. The NYSE ARCA Airline Index has inched up 0.4% to $52.88 over the past five trading days. Over the past six months, the NYSE ARCA Airline Index has plummeted 34.3%.
What's Next in the Airline Space?
Investors will keenly await the third-quarter 2022 results of United Airlines and American Airlines, scheduled to be out on Oct 18 and Oct 20, respectively. We expect strong air-travel demand to have aided the top-line performances of both UAL and AAL. However, high fuel costs are likely to have dented their bottom-line performances.
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Media Contact
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Delta Air Lines, Inc. (DAL): Free Stock Analysis Report
United Airlines Holdings Inc (UAL): Free Stock Analysis Report
Gol Linhas Aereas Inteligentes S.A. (GOL): Free Stock Analysis Report
Copa Holdings, S.A. (CPA): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Stocks recently featured in the blog include: Delta Air Lines DAL, American Airlines AAL, United Airlines UAL, Gol Linhas GOL and Copa Holdings CPA. We expect strong air-travel demand to have aided the top-line performances of both UAL and AAL. American Airlines Group Inc. (AAL): Free Stock Analysis Report
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Stocks recently featured in the blog include: Delta Air Lines DAL, American Airlines AAL, United Airlines UAL, Gol Linhas GOL and Copa Holdings CPA. We expect strong air-travel demand to have aided the top-line performances of both UAL and AAL. American Airlines Group Inc. (AAL): Free Stock Analysis Report
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Stocks recently featured in the blog include: Delta Air Lines DAL, American Airlines AAL, United Airlines UAL, Gol Linhas GOL and Copa Holdings CPA. We expect strong air-travel demand to have aided the top-line performances of both UAL and AAL. American Airlines Group Inc. (AAL): Free Stock Analysis Report
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Stocks recently featured in the blog include: Delta Air Lines DAL, American Airlines AAL, United Airlines UAL, Gol Linhas GOL and Copa Holdings CPA. We expect strong air-travel demand to have aided the top-line performances of both UAL and AAL. American Airlines Group Inc. (AAL): Free Stock Analysis Report
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2022-10-17 00:00:00 UTC
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Pre-Markets Up to Start a New Week
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AAL
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https://www.nasdaq.com/articles/pre-markets-up-to-start-a-new-week
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Monday, October 17, 2022
Ahead of this holiday season, market participants gather for a long feast — Q3 earnings season is now underway, with a full compliment of industries represented by some key publicly traded leaders. Aside from the Wall Street banks we’re seeing report this morning, this week brings us results from Netflix NFLX, Johnson & Johnson JNJ, Tesla TSLA, IBM IBM, American Airlines AAL, American Express AXP and Verizon VZ.
This morning, we also see a new Empire State Manufacturing Survey for October, which brings us the seventh down month in the first 10 of the year: -9.1 is below the -5.0 expected and the -1.5 posted for September. While not good if we’re looking for productivity growth in New York state, it’s well off the pace of -31.3 we saw just in August, which was the deepest sink on this data since the early months of the pandemic. Then again, for most of 2021, we were between +20 and +40 on the Empire State Index.
In other economic data, Tuesday brings us Industrial Production and Capacity Utilization for September, Wednesday is Housing Starts and Building Permits, as well as a new Beige Book. Thursday offers weekly Jobless Claims, the Philly Fed survey and Existing Home Sales. None of these reports in and of themselves will have a chance to change the Fed’s notion that another 75 basis-point (bps) interest rate hike is in the cards for November 2nd (the next Fed meeting), but cumulatively they may add a new angle to the discussion.
Bank of America BAC reported Q3 earnings ahead of today’s opening bell, beating on earnings by 2 cents per share to 81 cents, while revenues of $24.61 billion surpassed expectations by a cool billion dollars. Net interest income gained +24% in the quarter, while Fixed Income was +27%. Shares are up +3% on the news.
Bank of New York - Mellon BK also reported positive surprises for its Q3 this morning, with earnings of $1.21 per share beating the +1.10 expected, +11% year over year. Revenues in the quarter of $4.28 billion improved over the Zacks consensus of $4.18 billion, +6% from this quarter a year ago. Net interest revenues grew +44% year over year, and shares are up +5% in early trading.
The big banks are benefiting from the higher interest rates from the Fed, and quarter over quarter there has been a big difference in how much banks find themselves able to charge. The Fed funds rate, after all, was 100 bps lower at the start of Q3 than it was at the end; apparently, we can expect similar innate gains in banking business in Q4 for precisely the same reason.
This is not to say Q3 earnings season is going to be a raging success, however; more industries feel the brunt of these interest rate hikes than benefit from them. But so far, so good: Pepsi PEP and Delta Air Lines DAL posted good reports last week. And the markets reflect this — at least to this early point in the day and week: the Dow is +350 points ahead of the open, the S&P is +50 and the Nasdaq is +160 points.
Questions or comments about this article and/or its author? Click here>>
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Bank of America Corporation (BAC): Free Stock Analysis Report
International Business Machines Corporation (IBM): Free Stock Analysis Report
The Bank of New York Mellon Corporation (BK): Free Stock Analysis Report
Johnson & Johnson (JNJ): Free Stock Analysis Report
Verizon Communications Inc. (VZ): Free Stock Analysis Report
Delta Air Lines, Inc. (DAL): Free Stock Analysis Report
Netflix, Inc. (NFLX): Free Stock Analysis Report
American Express Company (AXP): Free Stock Analysis Report
PepsiCo, Inc. (PEP): Free Stock Analysis Report
Tesla, Inc. (TSLA): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Aside from the Wall Street banks we’re seeing report this morning, this week brings us results from Netflix NFLX, Johnson & Johnson JNJ, Tesla TSLA, IBM IBM, American Airlines AAL, American Express AXP and Verizon VZ. American Airlines Group Inc. (AAL): Free Stock Analysis Report This morning, we also see a new Empire State Manufacturing Survey for October, which brings us the seventh down month in the first 10 of the year: -9.1 is below the -5.0 expected and the -1.5 posted for September.
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Aside from the Wall Street banks we’re seeing report this morning, this week brings us results from Netflix NFLX, Johnson & Johnson JNJ, Tesla TSLA, IBM IBM, American Airlines AAL, American Express AXP and Verizon VZ. American Airlines Group Inc. (AAL): Free Stock Analysis Report Bank of America BAC reported Q3 earnings ahead of today’s opening bell, beating on earnings by 2 cents per share to 81 cents, while revenues of $24.61 billion surpassed expectations by a cool billion dollars.
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Aside from the Wall Street banks we’re seeing report this morning, this week brings us results from Netflix NFLX, Johnson & Johnson JNJ, Tesla TSLA, IBM IBM, American Airlines AAL, American Express AXP and Verizon VZ. American Airlines Group Inc. (AAL): Free Stock Analysis Report Bank of America BAC reported Q3 earnings ahead of today’s opening bell, beating on earnings by 2 cents per share to 81 cents, while revenues of $24.61 billion surpassed expectations by a cool billion dollars.
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Aside from the Wall Street banks we’re seeing report this morning, this week brings us results from Netflix NFLX, Johnson & Johnson JNJ, Tesla TSLA, IBM IBM, American Airlines AAL, American Express AXP and Verizon VZ. American Airlines Group Inc. (AAL): Free Stock Analysis Report This morning, we also see a new Empire State Manufacturing Survey for October, which brings us the seventh down month in the first 10 of the year: -9.1 is below the -5.0 expected and the -1.5 posted for September.
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2022-10-14 00:00:00 UTC
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American Airlines (AAL) Gains As Market Dips: What You Should Know
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AAL
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https://www.nasdaq.com/articles/american-airlines-aal-gains-as-market-dips%3A-what-you-should-know-5
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American Airlines (AAL) closed the most recent trading day at $13.11, moving +0.46% from the previous trading session. This move outpaced the S&P 500's daily loss of 2.37%. Meanwhile, the Dow lost 1.35%, and the Nasdaq, a tech-heavy index, lost 0.24%.
Heading into today, shares of the world's largest airline had lost 8.55% over the past month, outpacing the Transportation sector's loss of 10.84% and lagging the S&P 500's loss of 6.51% in that time.
American Airlines will be looking to display strength as it nears its next earnings release, which is expected to be October 20, 2022. In that report, analysts expect American Airlines to post earnings of $0.50 per share. This would mark year-over-year growth of 150.51%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.26 billion, up 47.83% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.84 per share and revenue of $47.8 billion. These totals would mark changes of +89.98% and +59.96%, respectively, from last year.
Any recent changes to analyst estimates for American Airlines should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 9.21% higher. American Airlines is holding a Zacks Rank of #3 (Hold) right now.
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 157, which puts it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AAL in the coming trading sessions, be sure to utilize Zacks.com.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines (AAL) closed the most recent trading day at $13.11, moving +0.46% from the previous trading session. To follow AAL in the coming trading sessions, be sure to utilize Zacks.com. American Airlines Group Inc. (AAL): Free Stock Analysis Report
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American Airlines (AAL) closed the most recent trading day at $13.11, moving +0.46% from the previous trading session. To follow AAL in the coming trading sessions, be sure to utilize Zacks.com. American Airlines Group Inc. (AAL): Free Stock Analysis Report
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American Airlines (AAL) closed the most recent trading day at $13.11, moving +0.46% from the previous trading session. To follow AAL in the coming trading sessions, be sure to utilize Zacks.com. American Airlines Group Inc. (AAL): Free Stock Analysis Report
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American Airlines (AAL) closed the most recent trading day at $13.11, moving +0.46% from the previous trading session. To follow AAL in the coming trading sessions, be sure to utilize Zacks.com. American Airlines Group Inc. (AAL): Free Stock Analysis Report
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2022-10-14 00:00:00 UTC
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Airline Stock Roundup: DAL's Q3 Earnings, GOL, AAL's Forecasts & More
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AAL
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https://www.nasdaq.com/articles/airline-stock-roundup%3A-dals-q3-earnings-gol-aals-forecasts-more
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On Oct 13, Delta Air Lines DAL kick-started the third-quarter 2022 earnings season in the airline space. This Atlanta-based carrier reported lower-than-expected earnings per share due to high costs and Hurricane Ian–induced disruptions.American Airlines AAL was also in the news when its management upped the revenue growth forecast for the September quarter owing to strong air-travel demand. An expansion update from United Airlines UAL was also available in the past week.
However, Latin American carrier Gol Linhas GOL expects to incur a loss in the third quarter due to high fuel costs even though air-travel demand remains strong. Another Latin American carrier Copa Holdings’ CPA traffic increased in September from the comparable period’s level in 2019 (pre-coronavirus), again reflecting upbeat air-travel demand.
Recap of the Latest Top Stories
1. Delta’s third-quarter 2022 earnings (excluding 42 cents from non-recurring items) of $1.51 per share fell short of the Zacks Consensus Estimate of $1.56. DAL reported earnings of 30 cents per share a year ago, dull in comparison to the current scenario, as air-travel demand was not so buoyant then. In the third quarter of 2022, total revenues increased more than 52% on a year-over-year basis. The same increased 11% from third-quarter 2019 actuals. The fourth-quarter 2022 adjusted revenue guidance is encouraging and expected to increase in the 5-9% band from the fourth-quarter 2019 actuals, driven by strength in domestic air-travel demand and fast-recovering international travel demand. While air-travel demand is very strong for leisure, business travel is also bouncing back. Operating margin for the fourth quarter is expected in the 9-11% range.
2. American Airlines, currently carrying a Zacks Rank #3 (Hold), expects total revenues for third-quarter 2022 to rise approximately 13% from the third-quarter 2019 actuals (earlier expectation: increase 10-12%). Total revenue per available seat miles (TRASM: a measure of unit revenue) is now anticipated to be 25% higher than the third-quarter 2019 reading (earlier estimate was a 20-24% rise). Driven by upbeat demand, the pre-tax margin, excluding net special items, is anticipated to be 4.5% compared with the 2-4% band expected earlier. The third-quarter operating margin (excluding net special items) is expected to be roughly 7%. The average fuel cost per gallon forecast is maintained in the $3.73-$3.78 range. However, the guidance for fuel gallons consumed is decreased to 1,031 million from 1,040 million.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
3. For the third quarter of 2022 (detailed results of which will be out on Oct 27), Gol Linhas anticipates EBITDA margin to be approximately 15% and the EBIT margin to be roughly 5%. GOL estimates an average fuel price per liter to be R$ 6.62. Management anticipates a loss per share of R$1.8, indicating a loss Per American Depositary Shares of 70 cents for the third quarter. Fuel unit costs are anticipated to grow almost 87% from the prior-year actuals, backed by an 89% increase in the average jet fuel price. Passenger unit revenues for the to-be-reported quarter are expected to increase roughly 45% from the year-ago reported figure, driven by upbeat domestic air-travel demand (mainly for leisure) and the gradual recovery in international travel.
Reflecting bullish air-travel demand, GOL’s consolidated traffic in September increased 41.4% from the year-ago level. That story was covered in detail in the previous week’s write-up.
4. In September 2022, Copa Holdings’ traffic, measured in revenue passenger miles (RPMs), increased 3.5% to 1.75 billion from the comparable period’s level in 2019. Increased passenger volume led to this upside. To match upbeat demand, CPA is increasing capacity — measured in available seat miles (ASMs) — which inched up 1.2% from the 2019 level to 2 billion. With traffic growth outpacing capacity expansion, load factor (% of seats filled by passengers) improved 200 basis points (bps) to 86.9% in the last month.
5. United Airlines reportedly decided to add flights to Australian cities with the relaxation of COVID-related travel restrictions and the surge in air-travel demand. UAL plans to fly nonstop from San Francisco International Airport to Brisbane, Melbourne and Sydney; from Los Angeles International Airport to Melbourne and Sydney; and from Houston to Sydney.
Performance
The following table shows the price movement of the major airline players over the past week and during the last six months.
Image Source: Zacks Investment Research
The table above shows that all airline stocks, apart from Gol Linhas, have traded in the green over the five trading days. Gol’s forecast of a third-quarter loss might have induced the southward movement of the stock. The NYSE ARCA Airline Index has inched up 0.4% to $52.88 over the past five trading days. Over the past six months, the NYSE ARCA Airline Index has plummeted 34.3%.
What's Next in the Airline Space?
Investors will keenly await the third-quarter 2022 results of United Airlines and American Airlines, scheduled to be out on Oct 18 and Oct 20, respectively. We expect strong air-travel demand to have aided the top-line performances of both UAL and AAL. However, high fuel costs are likely to have dented their bottom-line performances.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Delta Air Lines, Inc. (DAL): Free Stock Analysis Report
United Airlines Holdings Inc (UAL): Free Stock Analysis Report
Gol Linhas Aereas Inteligentes S.A. (GOL): Free Stock Analysis Report
Copa Holdings, S.A. (CPA): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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This Atlanta-based carrier reported lower-than-expected earnings per share due to high costs and Hurricane Ian–induced disruptions.American Airlines AAL was also in the news when its management upped the revenue growth forecast for the September quarter owing to strong air-travel demand. We expect strong air-travel demand to have aided the top-line performances of both UAL and AAL. American Airlines Group Inc. (AAL): Free Stock Analysis Report
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This Atlanta-based carrier reported lower-than-expected earnings per share due to high costs and Hurricane Ian–induced disruptions.American Airlines AAL was also in the news when its management upped the revenue growth forecast for the September quarter owing to strong air-travel demand. We expect strong air-travel demand to have aided the top-line performances of both UAL and AAL. American Airlines Group Inc. (AAL): Free Stock Analysis Report
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This Atlanta-based carrier reported lower-than-expected earnings per share due to high costs and Hurricane Ian–induced disruptions.American Airlines AAL was also in the news when its management upped the revenue growth forecast for the September quarter owing to strong air-travel demand. We expect strong air-travel demand to have aided the top-line performances of both UAL and AAL. American Airlines Group Inc. (AAL): Free Stock Analysis Report
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This Atlanta-based carrier reported lower-than-expected earnings per share due to high costs and Hurricane Ian–induced disruptions.American Airlines AAL was also in the news when its management upped the revenue growth forecast for the September quarter owing to strong air-travel demand. We expect strong air-travel demand to have aided the top-line performances of both UAL and AAL. American Airlines Group Inc. (AAL): Free Stock Analysis Report
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3175.0
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2022-10-14 00:00:00 UTC
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A American Airlines Group Inc. (NASDAQ:AAL) insider lowered their holding by 13% earlier this year
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AAL
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https://www.nasdaq.com/articles/a-american-airlines-group-inc.-nasdaq%3Aaal-insider-lowered-their-holding-by-13-earlier-this
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nan
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Looking at American Airlines Group Inc.'s (NASDAQ:AAL ) insider transactions over the last year, we can see that insiders were net sellers. That is, there were more number of shares sold by insiders than there were purchased.
While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, we would consider it foolish to ignore insider transactions altogether.
The Last 12 Months Of Insider Transactions At American Airlines Group
The insider, Vasu Raja, made the biggest insider sale in the last 12 months. That single transaction was for US$190k worth of shares at a price of US$14.98 each. While we don't usually like to see insider selling, it's more concerning if the sales take place at a lower price. The silver lining is that this sell-down took place above the latest price (US$13.05). So it is hard to draw any strong conclusion from it. Vasu Raja was the only individual insider to sell shares in the last twelve months.
You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
NasdaqGS:AAL Insider Trading Volume October 14th 2022
If you like to buy stocks that insiders are buying, rather than selling, then you might just love this free list of companies. (Hint: insiders have been buying them).
Insiders At American Airlines Group Have Sold Stock Recently
The last three months saw significant insider selling at American Airlines Group. In total, insider Vasu Raja sold US$190k worth of shares in that time, and we didn't record any purchases whatsoever. This may suggest that some insiders think that the shares are not cheap.
Insider Ownership Of American Airlines Group
For a common shareholder, it is worth checking how many shares are held by company insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. American Airlines Group insiders own about US$88m worth of shares. That equates to 1.0% of the company. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.
So What Does This Data Suggest About American Airlines Group Insiders?
An insider hasn't bought American Airlines Group stock in the last three months, but there was some selling. Looking to the last twelve months, our data doesn't show any insider buying. Insider ownership isn't particularly high, so this analysis makes us cautious about the company. We'd practice some caution before buying! While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. Be aware that American Airlines Group is showing 3 warning signs in our investment analysis, and 2 of those are a bit concerning...
Of course American Airlines Group may not be the best stock to buy. So you may wish to see this free collection of high quality companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking at American Airlines Group Inc.'s (NASDAQ:AAL ) insider transactions over the last year, we can see that insiders were net sellers. NasdaqGS:AAL Insider Trading Volume October 14th 2022 If you like to buy stocks that insiders are buying, rather than selling, then you might just love this free list of companies. While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, we would consider it foolish to ignore insider transactions altogether.
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Looking at American Airlines Group Inc.'s (NASDAQ:AAL ) insider transactions over the last year, we can see that insiders were net sellers. NasdaqGS:AAL Insider Trading Volume October 14th 2022 If you like to buy stocks that insiders are buying, rather than selling, then you might just love this free list of companies. The Last 12 Months Of Insider Transactions At American Airlines Group The insider, Vasu Raja, made the biggest insider sale in the last 12 months.
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Looking at American Airlines Group Inc.'s (NASDAQ:AAL ) insider transactions over the last year, we can see that insiders were net sellers. NasdaqGS:AAL Insider Trading Volume October 14th 2022 If you like to buy stocks that insiders are buying, rather than selling, then you might just love this free list of companies. The Last 12 Months Of Insider Transactions At American Airlines Group The insider, Vasu Raja, made the biggest insider sale in the last 12 months.
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Looking at American Airlines Group Inc.'s (NASDAQ:AAL ) insider transactions over the last year, we can see that insiders were net sellers. NasdaqGS:AAL Insider Trading Volume October 14th 2022 If you like to buy stocks that insiders are buying, rather than selling, then you might just love this free list of companies. So What Does This Data Suggest About American Airlines Group Insiders?
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3176.0
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2022-10-13 00:00:00 UTC
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What's in the Cards for American Airlines (AAL) in Q3 Earnings?
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AAL
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https://www.nasdaq.com/articles/whats-in-the-cards-for-american-airlines-aal-in-q3-earnings
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nan
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nan
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American Airlines AAL is scheduled to report third-quarter 2022 results on Oct 20, before market open.
The Zacks Consensus Estimate for AAL’s third-quarter 2022 earnings has been revised upward by 10% in the past 90 days. The company also has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in three of the preceding four quarters, the average beat being 2.9%.
American Airlines Group Inc. Price and EPS Surprise
American Airlines Group Inc. price-eps-surprise | American Airlines Group Inc. Quote
Let’s see how things are shaping up for American Airlines this earnings season.
Q3 Expectations
The Zacks Consensus Estimate for American Airlines’ third-quarter 2022 revenues is pegged at $13.23 billion, indicating 47.6% growth year over year. The top line is likely to have been aided by a solid recovery of air-travel demand and an improvement in passenger revenues.
Moreover, AAL’s bullish top-line guidance is also encouraging. Total revenues in the third quarter of 2022 are anticipated to be roughly 10-12% higher than the level recorded in third-quarter 2019. Management expects TRASM to be 20-24% higher than third-quarter 2019 actuals.
On the flip side, an increase in oil prices continues to bother AAL’s bottom line. The fuel cost per gallon in third-quarter 2022 is expected in the $3.73-$3.78 band. The Zacks Consensus Estimate for average fuel price per gallon (including related taxes) is pegged at $3.85, indicating growth of 85.9% from the year-ago reported figure.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for American Airlines this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
American Airlines has an Earnings ESP of -12.16% and a Zacks Rank #3.
Highlights of Q2
American Airlines’ second-quarter 2022 earnings (excluding 8 cents from non-recurring items) of 76 cents per share fell short of the Zacks Consensus Estimate of 79 cents. Escalated operating expenses induced the earnings miss. In the year-ago quarter, AAL incurred a loss of $1.69 per share when air-travel demand was not as buoyant as in the current scenario.
Operating revenues of $13,422 million skyrocketed 79.5% year over year and surpassed the Zacks Consensus Estimate of $13,409.8 million.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that these have the right combination of elements to beat on third-quarter 2022 earnings:
Canadian National Railway Company CNI has an Earnings ESP of +0.74% and a Zacks Rank #3. CNI will release results on Oct 25. You can see the complete list of today’s Zacks #1 Rank stocks here.
Canadian National has an expected earnings growth rate of 20.7% for the current year. CNI delivered a trailing four-quarter earnings surprise of 6.7%, on average.
Canadian National has a long-term earnings growth rate of 11.4%.
Canadian Pacific Railway Limited CP has an Earnings ESP of +3.81% and a Zacks Rank #3. CP will release results on Oct 26.
Canadian Pacific has an expected earnings growth rate of 12% for the current year.
Canadian Pacific has a long-term earnings growth rate of 9.89%.
United Airlines UAL has an Earnings ESP of +5.29% and a Zacks Rank #3. UAL will release results on Oct 18.
UAL has an expected earnings growth rate of 103.3% for the current year. UAL delivered a trailing four-quarter earnings surprise of 10.53%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
United Airlines Holdings Inc (UAL): Free Stock Analysis Report
Canadian National Railway Company (CNI): Free Stock Analysis Report
Canadian Pacific Railway Limited (CP): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines AAL is scheduled to report third-quarter 2022 results on Oct 20, before market open. The Zacks Consensus Estimate for AAL’s third-quarter 2022 earnings has been revised upward by 10% in the past 90 days. Moreover, AAL’s bullish top-line guidance is also encouraging.
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American Airlines AAL is scheduled to report third-quarter 2022 results on Oct 20, before market open. The Zacks Consensus Estimate for AAL’s third-quarter 2022 earnings has been revised upward by 10% in the past 90 days. Moreover, AAL’s bullish top-line guidance is also encouraging.
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American Airlines AAL is scheduled to report third-quarter 2022 results on Oct 20, before market open. The Zacks Consensus Estimate for AAL’s third-quarter 2022 earnings has been revised upward by 10% in the past 90 days. Moreover, AAL’s bullish top-line guidance is also encouraging.
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American Airlines AAL is scheduled to report third-quarter 2022 results on Oct 20, before market open. The Zacks Consensus Estimate for AAL’s third-quarter 2022 earnings has been revised upward by 10% in the past 90 days. Moreover, AAL’s bullish top-line guidance is also encouraging.
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3177.0
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2022-10-13 00:00:00 UTC
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American Airlines (AAL) Reports Next Week: Wall Street Expects Earnings Growth
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AAL
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https://www.nasdaq.com/articles/american-airlines-aal-reports-next-week%3A-wall-street-expects-earnings-growth
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nan
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nan
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American Airlines (AAL) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2022. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 20. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on theearnings callwill mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus Estimate
This world's largest airline is expected to post quarterly earnings of $0.44 per share in its upcoming report, which represents a year-over-year change of +144.4%.
Revenues are expected to be $13.24 billion, up 47.6% from the year-ago quarter.
Estimate Revisions Trend
The consensus EPS estimate for the quarter has been revised 107.98% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Earnings Whisper
Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for American Airlines?
For American Airlines, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -12.16%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination makes it difficult to conclusively predict that American Airlines will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?
Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that American Airlines would post earnings of $0.79 per share when it actually produced earnings of $0.76, delivering a surprise of -3.80%.
Over the last four quarters, the company has beaten consensus EPS estimates three times.
Bottom Line
An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
American Airlines doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines (AAL) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2022. American Airlines Group Inc. (AAL): Free Stock Analysis Report This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
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American Airlines (AAL) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2022. American Airlines Group Inc. (AAL): Free Stock Analysis Report The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate.
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American Airlines (AAL) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2022. American Airlines Group Inc. (AAL): Free Stock Analysis Report The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate.
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American Airlines (AAL) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2022. American Airlines Group Inc. (AAL): Free Stock Analysis Report The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 20.
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3178.0
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2022-10-13 00:00:00 UTC
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Despite Not Liking Airline Stocks, I'm Buying This One Now; Here's Why
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AAL
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https://www.nasdaq.com/articles/despite-not-liking-airline-stocks-im-buying-this-one-now-heres-why
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nan
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nan
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I
am not a big fan of airlines. My problem with the stocks in the big carriers is not based on my personal experience of flying; instead, it's based on the business and economic history of the industry. The big, international, U.S. based carriers have had a tendency in the past to be profligate during good times and either declare bankruptcy or go cap in hand to the government during bad. They have been the ultimate example of privatizing profits and socializing losses, and that, apart from being morally questionable, is something that distorts markets.
That doesn’t mean, though, that I never buy airline stocks. There are times when they can offer a chance of market-beating returns and for all my moral indignation and frustration at their history, that is what matters to me most as an investor. It looks like now is one of those times.
When Delta (DAL) reported Q3 earnings this morning, the results were nothing special. After an adjustment for Hurricane Ian, they basically matched expectations in terms of EPS and were a little short on revenue. The stock, however, jumped following the release. That was caused not by last quarter’s numbers, but by the guidance offered for Q4. Delta is saying that they expect to make between $1 and $1.25 nest quarter, significantly more than analysts were expecting before the release.
Because that positive guidance was based on industry trends towards increased air travel rather than internal factors, the other major U.S. international airlines -- American (AAL) and United (UAL) -- also saw their stocks rise in the early premarket after DAL reported. However, after September CPI showed inflation still running hot, they gave back those gains.
The fundamental situation for airlines, however, haven’t changed as a result of that inflationary pressure, nor will they any time soon. Of course, if the Fed continues to raise rates in response to the point where they seriously harm the economy then airlines will suffer along with everyone else. Delta’s earnings clearly indicate that until we reach that point, if we ever do, demand for air travel is high. That has led to high ticket prices, but even that hasn’t dampened the enthusiasm for travel. Delta expects that to continue, even as they and their competitors increase capacity in Q4.
Put simply, airline profits are growing and have, so far, proven to be inflation-proof. In the current environment, inflation-proof growth is at a premium and yet airline stocks are available at a discount. The next question, then, is how best to play that.
International travel is key here. That is where the numbers have increased the most, and where airlines typically make the most money. It therefore makes sense to concentrate on that, and that makes American Airlines the obvious choice as they are the largest international carrier of the big three. It also helps that AAL sets up nicely from a technical perspective too.
The stock closed yesterday just above the 52-week low and will probably get even closer to that level today, as traders react to the scary CPI print. Anywhere near there is a good entry point. Just how good can be seen when you consider that the low of AAL in the spring of 2020, when all planes were grounded and the future looked very bleak, was $8.25. The fact that AAL is trading less than 50% above that point now, as airlines are experiencing growth in their most profitable routes, makes so little sense that even I, who typically avoids airline stocks, will be looking to buy AAL in front of their earnings next week.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Because that positive guidance was based on industry trends towards increased air travel rather than internal factors, the other major U.S. international airlines -- American (AAL) and United (UAL) -- also saw their stocks rise in the early premarket after DAL reported. It also helps that AAL sets up nicely from a technical perspective too. Just how good can be seen when you consider that the low of AAL in the spring of 2020, when all planes were grounded and the future looked very bleak, was $8.25.
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Because that positive guidance was based on industry trends towards increased air travel rather than internal factors, the other major U.S. international airlines -- American (AAL) and United (UAL) -- also saw their stocks rise in the early premarket after DAL reported. It also helps that AAL sets up nicely from a technical perspective too. Just how good can be seen when you consider that the low of AAL in the spring of 2020, when all planes were grounded and the future looked very bleak, was $8.25.
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Because that positive guidance was based on industry trends towards increased air travel rather than internal factors, the other major U.S. international airlines -- American (AAL) and United (UAL) -- also saw their stocks rise in the early premarket after DAL reported. The fact that AAL is trading less than 50% above that point now, as airlines are experiencing growth in their most profitable routes, makes so little sense that even I, who typically avoids airline stocks, will be looking to buy AAL in front of their earnings next week. It also helps that AAL sets up nicely from a technical perspective too.
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Because that positive guidance was based on industry trends towards increased air travel rather than internal factors, the other major U.S. international airlines -- American (AAL) and United (UAL) -- also saw their stocks rise in the early premarket after DAL reported. It also helps that AAL sets up nicely from a technical perspective too. Just how good can be seen when you consider that the low of AAL in the spring of 2020, when all planes were grounded and the future looked very bleak, was $8.25.
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3179.0
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2022-10-12 00:00:00 UTC
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United Airlines Earnings Preview: Can UAL Stock Take Off?
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AAL
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https://www.nasdaq.com/articles/united-airlines-earnings-preview%3A-can-ual-stock-take-off
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nan
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Airline earnings are expected to be solid, but guidance is more important with an economic downturn, rising rates, and climbing operating costs. Demand for travel is high right now but investors will want to see the outlook in terms of bookings and reservations for Q4 and fiscal 2023.
The Transportation sector’s Q3 earnings are expected to be up +48.1% from the year earlier level, as the sector’s profitability picture has notably improved. This is a good sign for the Transportation-Airline Industry.
Image Source: Zacks Investment Research
United Airlines UAL will release its Q3 earnings on October 18th.
United Airlines is the second-biggest airline in the U.S. in terms of passengers carried with destinations in Asia, Europe, the Middle East, and Latin America.
UAL’s outlook will help investors get a better gauge on the global economic slowdown and how much inflation is impacting travel. More importantly, trading 38% off its 52-week highs investors will want to see how any rising operating costs will affect the company’s earnings.
Image Source: Zacks Investment Research
United returned to profitability in Q2. But CEO Scott Kirby said it was focused on confronting three risks that could grow over the next 6-18 months: industry-wide operational challenges, record fuel prices, and the increasing possibility of a global recession.
This will certainly need to be monitored by investors as despite TPI inflation (Travel Price Index) being down 1.8% in August, airline fares were up 33% year over year. While the Transportation sector’s earnings are expected to be up in Q3, inflated prices could start to weigh on consumer demand and is an indicator of rising operating costs for airlines.
Performance
UAL is down -22% year to date, with much of the fall coming during the second quarter as inflation concerns began taking their toll on the stock. The decline is not as steep as the S&P 500’s -25% YTD drop but United has underperformed its peer group’s -13%.
Image Source: Zacks Investment Research
Despite the large decline over the last year, UAL is still up +68% over the last decade to outperform its peer group’s +57%.
Image Source: Zacks Investment Research
Outpacing competitors such as American Airlines AAL and Delta Airlines DAL could also be key for UAL stock. As we can see form the above chart, UAL’s price performance is in the middle of the pack over the last two years, outperforming DAL but underperforming AAL.
Outlook
The Zacks Consensus Estimate for UAL’s Q3 earnings is $2.21 per share, expected to climb swing from a loss in Q3 2021 and rise 316%. Sales for Q3 are also expected to be up 64% at $12.70 billion. Estimates for the period have gone up significantly over the last 90 days. Earnings expectations have increased 37% from $1.61 at the beginning of the quarter.
Year over year, UAL’s earnings are expected to be back in the black, swinging from an adjusted loss of -$13.94 per share in FY21 to +$0.45 in 2022. FY23 earnings are set to rebound another 1,189% to hit $5.80 per share. While this is not back to pre-pandemic levels, the large earnings climb is certainly a step in the right direction.
Solid top line growth is also expected, with FY22 sales projected to climb 78% and another 15% in FY23 to $50.56 billion. UAL’s fiscal 2022 and FY23 revenue is expected to exceed pre-pandemic levels at $40.80 billion in 2019.
Valuation
Currently trading around $34 a share, UAL has a P/E of 74.8X. This is much higher than the industry average of 12.3X. However, UAL’s high valuation is leveling off quickly with its earnings rebound. UAL is trading much lower than the 747.2X high it saw earlier in the year. And looking at the forward 12 months, UAL’s 7.3X is close to its median over the last decade of 8.8X.
Bottom Line
UAL currently lands a Zacks Rank #3 (Hold) and its Transportation-Airline Industry is in the bottom 32% of over 250 Zacks Industries. However, with earnings on a post-pandemic rebound, a Q3 beat and positive guidance could help UAL stock start to take off.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
United Airlines Holdings Inc (UAL): Free Stock Analysis Report
Delta Air Lines, Inc. (DAL): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Image Source: Zacks Investment Research Outpacing competitors such as American Airlines AAL and Delta Airlines DAL could also be key for UAL stock. As we can see form the above chart, UAL’s price performance is in the middle of the pack over the last two years, outperforming DAL but underperforming AAL. American Airlines Group Inc. (AAL): Free Stock Analysis Report
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American Airlines Group Inc. (AAL): Free Stock Analysis Report Image Source: Zacks Investment Research Outpacing competitors such as American Airlines AAL and Delta Airlines DAL could also be key for UAL stock. As we can see form the above chart, UAL’s price performance is in the middle of the pack over the last two years, outperforming DAL but underperforming AAL.
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Image Source: Zacks Investment Research Outpacing competitors such as American Airlines AAL and Delta Airlines DAL could also be key for UAL stock. As we can see form the above chart, UAL’s price performance is in the middle of the pack over the last two years, outperforming DAL but underperforming AAL. American Airlines Group Inc. (AAL): Free Stock Analysis Report
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Image Source: Zacks Investment Research Outpacing competitors such as American Airlines AAL and Delta Airlines DAL could also be key for UAL stock. As we can see form the above chart, UAL’s price performance is in the middle of the pack over the last two years, outperforming DAL but underperforming AAL. American Airlines Group Inc. (AAL): Free Stock Analysis Report
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3180.0
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2022-10-12 00:00:00 UTC
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American Airlines (AAL) Up 1.74% on Bright Q3 Revenue Guidance
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AAL
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https://www.nasdaq.com/articles/american-airlines-aal-up-1.74-on-bright-q3-revenue-guidance
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Shares of American Airlines AAL gained 1.74% on Oct 11, ending the trading session at $12.26 per share. The uptick followed management’s decision to increase its revenue forecast for third-quarter 2022. AAL will announce third-quarter results on Oct 20.
Air-travel demand recovered from the pandemic-induced lows. We expect upbeat air-travel demand, following the relaxation of COVID-related restrictions, to have aided American Airlines’ top-line performance in the September quarter. Observance of the Labor Day holiday period during the third quarter is likely to have boosted the air traffic further. Evidently, the decision to hike the revenue guidance comes as no surprise.
Revised Guidance
American Airlines, currently carrying a Zacks Rank #3 (Hold), expects total revenues to rise approximately 13% from the third-quarter 2019 actuals (earlier expectation: increase 10-12%). Total revenue per available seat miles (TRASM: a measure of unit revenue) is now anticipated to be 25% higher than the third-quarter 2019 reading (earlier estimate was a 20-24% rise).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Driven by upbeat demand, the pre-tax margin, excluding net special items, is anticipated to be roughly 4.5% compared with the 2-4% band expected earlier. The third-quarter operating margin (excluding net special items) is expected to be roughly 7%. The average fuel cost per gallon forecast is maintained in the $3.73-$3.78 range. However, the guidance for fuel gallons consumed is decreased to 1,031 million from 1,040 million.
American Airlines now expects third-quarter 2022 capacity to decline 9.6% from the third-quarter 2019 actuals (earlier guidance was a decline in the 8-10% range). Due to low capacity, cost per available seat miles or CASM, excluding fuel and special items, is high and expected to increase roughly 14% in third-quarter 2022 from the third-quarter 2019 actuals (earlier guidance was a 12-14% increase).
Upbeat Passenger Revenues Likely to Aid Airlines’ Q3 Results
Delta Air Lines DAL will kick-start the third-quarter 2022 earnings season for airlines on Oct 13. Like AAL, we expect DAL’s results to reflect upbeat passenger revenues owing to buoyant passenger volumes.
DAL expects September-quarter revenues to increase in the 1-5% band from the third-quarter 2019 actuals. CASM, excluding fuel and special items, in third-quarter 2022is expected to increase 22% from the third-quarter 2019 actuals.
Like AAL, United Airlines UAL lifted its revenue guidance for third-quarter 2022. UAL is scheduled to announce results on Oct 18. Like AAL and DAL, we also expect UAL’s results to reflect upbeat passenger revenues owing to buoyant passenger volumes.
UAL now expects operating revenues to grow 12% from the September-quarter level of 2019 (previous guidance was 11%). United Airlines expects TRASM to increase around 25% in the third quarter of 2022 from the third-quarter 2019 actuals (previous view: up in 24-26% band). Adjusted operating margin is expected to be 10.5% in the September quarter.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
Delta Air Lines, Inc. (DAL): Free Stock Analysis Report
United Airlines Holdings Inc (UAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of American Airlines AAL gained 1.74% on Oct 11, ending the trading session at $12.26 per share. AAL will announce third-quarter results on Oct 20. Like AAL, we expect DAL’s results to reflect upbeat passenger revenues owing to buoyant passenger volumes.
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Like AAL, we expect DAL’s results to reflect upbeat passenger revenues owing to buoyant passenger volumes. Shares of American Airlines AAL gained 1.74% on Oct 11, ending the trading session at $12.26 per share. AAL will announce third-quarter results on Oct 20.
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Shares of American Airlines AAL gained 1.74% on Oct 11, ending the trading session at $12.26 per share. AAL will announce third-quarter results on Oct 20. Like AAL, we expect DAL’s results to reflect upbeat passenger revenues owing to buoyant passenger volumes.
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Like AAL, United Airlines UAL lifted its revenue guidance for third-quarter 2022. American Airlines Group Inc. (AAL): Free Stock Analysis Report Shares of American Airlines AAL gained 1.74% on Oct 11, ending the trading session at $12.26 per share.
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3181.0
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2022-10-12 00:00:00 UTC
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Company News for Oct 12, 2022
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AAL
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https://www.nasdaq.com/articles/company-news-for-oct-12-2022
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nan
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nan
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Shares of American Airlines Group Inc. AAL gained 1.7% after the company raised its third-quarter 2022 revenue guidance.
Shares of Credit Suisse Group AG CS tumbled 5.4% following news that the U.S. Department of Justice is investigating its role in asset hiding.
Walgreens Boots Alliance Inc.’s WBA shares rose 2.4% after the company accelerated the process to buy the remaining 45% stake of CareCentrix for $392 million.
Uber Technologies Inc.’s UBER shares plunged 10.4% after the U.S. Labor Department proposed a new rule to reclassify gig workers as employees instead of independent contractors.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Credit Suisse Group (CS): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
Walgreens Boots Alliance, Inc. (WBA): Free Stock Analysis Report
Uber Technologies, Inc. (UBER): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of American Airlines Group Inc. AAL gained 1.7% after the company raised its third-quarter 2022 revenue guidance. American Airlines Group Inc. (AAL): Free Stock Analysis Report Shares of Credit Suisse Group AG CS tumbled 5.4% following news that the U.S. Department of Justice is investigating its role in asset hiding.
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American Airlines Group Inc. (AAL): Free Stock Analysis Report Shares of American Airlines Group Inc. AAL gained 1.7% after the company raised its third-quarter 2022 revenue guidance. Credit Suisse Group (CS): Free Stock Analysis Report
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American Airlines Group Inc. (AAL): Free Stock Analysis Report Shares of American Airlines Group Inc. AAL gained 1.7% after the company raised its third-quarter 2022 revenue guidance. Credit Suisse Group (CS): Free Stock Analysis Report
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Shares of American Airlines Group Inc. AAL gained 1.7% after the company raised its third-quarter 2022 revenue guidance. American Airlines Group Inc. (AAL): Free Stock Analysis Report Want the latest recommendations from Zacks Investment Research?
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3182.0
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2022-10-12 00:00:00 UTC
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PREVIEW-Economic worries loom over U.S. airline earnings
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AAL
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https://www.nasdaq.com/articles/preview-economic-worries-loom-over-u.s.-airline-earnings
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nan
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nan
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By Rajesh Kumar Singh
CHICAGO, Oct 12 (Reuters) - U.S. carriers including American Airlines Group Inc AAL.O and United Airlines Holdings Inc UAL.O are enjoying the strongest consumer demand in three years, but analysts and investors question how soon the good times might end as the growing risk of economic recession sparks worries about travel spending.
As earnings season starts on Thursday, investors are looking to find out how carriers plan to offset higher costs and protect profit once consumer demand softens.
The airline industry, which is facing higher fuel and wage bills, has been relying on robust demand to mitigate inflationary pressure with higher fares.
American Airlines on Tuesday forecast stronger profit in the third quarter as it expects higher ticket prices to offset a run-up in operating costs. The Texas-based carrier, however, did not provide any commentary on the booking trends.
Airline fares were up 33% year-on-year in August and have been one of the biggest contributors to a jump in U.S. consumer prices.
With the Federal Reserve aggressively raising interest rates to tame inflation by lowering demand and slowing economic growth, the industry's pricing power is under threat.
Analysts at Jefferies expect a sharp slowdown in the industry's revenue next year.
"We struggle to get positive on a pricing story when the Fed is actively targeting airline fares as a component of inflation," they said in a note.
Those worries have led to a 38% decline in the NYSE Arca Airline index .XAL this year, taking the focus away from what is shaping up to be the industry's best earnings performance in three years.
Daniel McKenzie, an analyst at Seaport Research Partners, last month cut 2023 earnings estimates for major carriers after the Fed delivered a third straight 75 basis-point interest rate hike.
Carriers have been playing down demand concerns, saying there has been no slowdown in post-summer travel bookings.
Travel demand tends to cool after Labor Day, which marks the unofficial end of the U.S. summer season. But airlines say travel bookings, thus far, have been resilient.
After surpassing 2019 levels during last month's Labor Day holiday weekend, U.S. passenger traffic has been averaging about 92% of the pre-pandemic levels since the first week of September, according to Transportation Security Administration (TSA) data.
Reopening of borders as well as a strong U.S. dollar are encouraging more Americans to travel overseas, driving up the demand for international flights.
Delta Air Lines Inc DAL.N, which is due to report earnings on Thursday, has plans to operate more transatlantic flights this month than in October 2019.
It is not clear, however, if the demand will sustain. Britain's biggest airport, Heathrow, on Tuesday warned of a possible slowdown in travel demand this winter.
As companies call their employees back to office, business travel demand has received a boost. Still, a full-scale recovery in corporate travel - the industry's cash cow - is not in sight.
The Global Business Travel Association does not expect corporate spending to rebound to pre-pandemic levels before 2026 due to macroeconomic concerns.
Prior to the pandemic, business travel accounted for up to 50% of the U.S airline industry's passenger revenue, according to trade group Airlines for America.
"We're looking at business travel," Christopher Raite, senior analyst at Third Bridge, said. "That's really the key."
(Reporting by Rajesh Kumar Singh in Chicago Editing by Anna Driver and Matthew Lewis)
((rajeshkumar.singh@thomsonreuters.com; +1-313-484-5370; Reuters Messaging: rajeshkumar.singh.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Rajesh Kumar Singh CHICAGO, Oct 12 (Reuters) - U.S. carriers including American Airlines Group Inc AAL.O and United Airlines Holdings Inc UAL.O are enjoying the strongest consumer demand in three years, but analysts and investors question how soon the good times might end as the growing risk of economic recession sparks worries about travel spending. As earnings season starts on Thursday, investors are looking to find out how carriers plan to offset higher costs and protect profit once consumer demand softens. With the Federal Reserve aggressively raising interest rates to tame inflation by lowering demand and slowing economic growth, the industry's pricing power is under threat.
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By Rajesh Kumar Singh CHICAGO, Oct 12 (Reuters) - U.S. carriers including American Airlines Group Inc AAL.O and United Airlines Holdings Inc UAL.O are enjoying the strongest consumer demand in three years, but analysts and investors question how soon the good times might end as the growing risk of economic recession sparks worries about travel spending. As earnings season starts on Thursday, investors are looking to find out how carriers plan to offset higher costs and protect profit once consumer demand softens. The Global Business Travel Association does not expect corporate spending to rebound to pre-pandemic levels before 2026 due to macroeconomic concerns.
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By Rajesh Kumar Singh CHICAGO, Oct 12 (Reuters) - U.S. carriers including American Airlines Group Inc AAL.O and United Airlines Holdings Inc UAL.O are enjoying the strongest consumer demand in three years, but analysts and investors question how soon the good times might end as the growing risk of economic recession sparks worries about travel spending. The airline industry, which is facing higher fuel and wage bills, has been relying on robust demand to mitigate inflationary pressure with higher fares. Prior to the pandemic, business travel accounted for up to 50% of the U.S airline industry's passenger revenue, according to trade group Airlines for America.
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By Rajesh Kumar Singh CHICAGO, Oct 12 (Reuters) - U.S. carriers including American Airlines Group Inc AAL.O and United Airlines Holdings Inc UAL.O are enjoying the strongest consumer demand in three years, but analysts and investors question how soon the good times might end as the growing risk of economic recession sparks worries about travel spending. As earnings season starts on Thursday, investors are looking to find out how carriers plan to offset higher costs and protect profit once consumer demand softens. Carriers have been playing down demand concerns, saying there has been no slowdown in post-summer travel bookings.
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3183.0
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2022-10-11 00:00:00 UTC
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Boeing orders, deliveries rise in September
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AAL
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https://www.nasdaq.com/articles/boeing-orders-deliveries-rise-in-september
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nan
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By David Shepardson
WASHINGTON, Oct 11 (Reuters) - Boeing Co BA.N said Tuesday deliveries rose in September to 51 airplanes, while orders rose by 90 as the planemaker continues to see strong demand for new aircraft.
Boeing deliveries last month tied its 51 deliveries in June, when it exceeded the 50-plane threshold for the first time since March 2019.
In August, Boeing deliveries rose to 35 airplanes after it resumed handovers of its 787 Dreamliner after a 15-month delay.
Last month, Boeing had 51 new 737 MAX airplane orders and 45 widebody airplanes, including 14 777s.
In September, Boeing delivered 14 widebody planes, including 7 787s, including three 787-8s to American Airlines AAL.O.
American Airlines told Reuters Friday that since August it has received four 787s from Boeing and all are in service.
Boeing's commercial order backlog now stands at 4,354 planes. Boeing has delivered 328 airplanes in the first nine months of 2022, including 267 737 MAXs.
Boeing faces a December deadline to win regulatory approval for the MAX 10, which is slightly larger than current 737 MAXs in service, as well as for a smaller variant, the MAX 7. Unless it gains an extension from Congress, Boeing must meet new modern cockpit-alerting requirements that could significantly delay the planes' entry into service.
Last week, regulators told Congress that Boeing does not anticipate winning approval for the 737 MAX 10 before next summer.
(Reporting by David Shepardson and Tim Hepher)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In September, Boeing delivered 14 widebody planes, including 7 787s, including three 787-8s to American Airlines AAL.O. In August, Boeing deliveries rose to 35 airplanes after it resumed handovers of its 787 Dreamliner after a 15-month delay. Unless it gains an extension from Congress, Boeing must meet new modern cockpit-alerting requirements that could significantly delay the planes' entry into service.
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In September, Boeing delivered 14 widebody planes, including 7 787s, including three 787-8s to American Airlines AAL.O. By David Shepardson WASHINGTON, Oct 11 (Reuters) - Boeing Co BA.N said Tuesday deliveries rose in September to 51 airplanes, while orders rose by 90 as the planemaker continues to see strong demand for new aircraft. Last month, Boeing had 51 new 737 MAX airplane orders and 45 widebody airplanes, including 14 777s.
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In September, Boeing delivered 14 widebody planes, including 7 787s, including three 787-8s to American Airlines AAL.O. By David Shepardson WASHINGTON, Oct 11 (Reuters) - Boeing Co BA.N said Tuesday deliveries rose in September to 51 airplanes, while orders rose by 90 as the planemaker continues to see strong demand for new aircraft. Last month, Boeing had 51 new 737 MAX airplane orders and 45 widebody airplanes, including 14 777s.
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In September, Boeing delivered 14 widebody planes, including 7 787s, including three 787-8s to American Airlines AAL.O. In August, Boeing deliveries rose to 35 airplanes after it resumed handovers of its 787 Dreamliner after a 15-month delay. Last month, Boeing had 51 new 737 MAX airplane orders and 45 widebody airplanes, including 14 777s.
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3184.0
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2022-10-11 00:00:00 UTC
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U.S. Senate defense bill does not extend Boeing 737 MAX certification -sources
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AAL
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https://www.nasdaq.com/articles/u.s.-senate-defense-bill-does-not-extend-boeing-737-max-certification-sources
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nan
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By David Shepardson
WASHINGTON, Oct 11 (Reuters) - The latest version of the U.S. Senate's defense bill does not contain an amendment to extend a December deadline for Boeing Co BA.N to win regulatory approval for the 737 MAX 7 and MAX 10 jetliners, according to sources and documents seen by Reuters.
Late last month, Republican Senator Roger Wicker proposed extending until September 2024 the deadline for the U.S. planemaker to win approval for the two new 737 variants.
Unless it gains an extension from Congress, Boeing must meet new modern cockpit-alerting requirements that could significantly delay the planes' entry into service. Wicker had sought to attach the measure to the version of the defense bill that was filed on Tuesday.
Boeing shares, which were trading around $135 a share before Reuters reported the news, fell to $131.57 at the close, down 33 cents from the previous session's close.
The requirements were adopted by Congress as part of certification reform passed after two fatal 737 MAX crashes killed 346 people and led to the bestselling plane's 20-month grounding.
Wicker, top Republican on the Senate Commerce Committee, did not immediately comment.
There are other opportunities to make changes to the defense bill and an extension could be attached to other measures Congress will consider before year end.
On Friday, the union representing about 10,000 Southwest Airlines LUV.N pilots told Reuters it supports the extension, while the Allied Pilots Association representing 15,000 American Airlines AAL.O pilots said it opposes it.
Both American and Southwest fly the MAX 8. Southwest has ordered 192 MAX 7 planes. Boeing has an estimated 1,000 orders and commitments for MAX 7 and 10s.
Boeing declined to comment. In the past, it has said it is safer to have one common 737 cockpit alerting system.
Reuters reported last week Boeing does not anticipate winning regulatory approval for the MAX 10 before next summer, according to a Federal Aviation Administration letter.
(Reporting by David Shepardson; editing by Jonathan Oatis, Nick Zieminski and David Gregorio)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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On Friday, the union representing about 10,000 Southwest Airlines LUV.N pilots told Reuters it supports the extension, while the Allied Pilots Association representing 15,000 American Airlines AAL.O pilots said it opposes it. Late last month, Republican Senator Roger Wicker proposed extending until September 2024 the deadline for the U.S. planemaker to win approval for the two new 737 variants. The requirements were adopted by Congress as part of certification reform passed after two fatal 737 MAX crashes killed 346 people and led to the bestselling plane's 20-month grounding.
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On Friday, the union representing about 10,000 Southwest Airlines LUV.N pilots told Reuters it supports the extension, while the Allied Pilots Association representing 15,000 American Airlines AAL.O pilots said it opposes it. By David Shepardson WASHINGTON, Oct 11 (Reuters) - The latest version of the U.S. Senate's defense bill does not contain an amendment to extend a December deadline for Boeing Co BA.N to win regulatory approval for the 737 MAX 7 and MAX 10 jetliners, according to sources and documents seen by Reuters. Reuters reported last week Boeing does not anticipate winning regulatory approval for the MAX 10 before next summer, according to a Federal Aviation Administration letter.
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On Friday, the union representing about 10,000 Southwest Airlines LUV.N pilots told Reuters it supports the extension, while the Allied Pilots Association representing 15,000 American Airlines AAL.O pilots said it opposes it. By David Shepardson WASHINGTON, Oct 11 (Reuters) - The latest version of the U.S. Senate's defense bill does not contain an amendment to extend a December deadline for Boeing Co BA.N to win regulatory approval for the 737 MAX 7 and MAX 10 jetliners, according to sources and documents seen by Reuters. Reuters reported last week Boeing does not anticipate winning regulatory approval for the MAX 10 before next summer, according to a Federal Aviation Administration letter.
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On Friday, the union representing about 10,000 Southwest Airlines LUV.N pilots told Reuters it supports the extension, while the Allied Pilots Association representing 15,000 American Airlines AAL.O pilots said it opposes it. By David Shepardson WASHINGTON, Oct 11 (Reuters) - The latest version of the U.S. Senate's defense bill does not contain an amendment to extend a December deadline for Boeing Co BA.N to win regulatory approval for the 737 MAX 7 and MAX 10 jetliners, according to sources and documents seen by Reuters. Wicker, top Republican on the Senate Commerce Committee, did not immediately comment.
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3185.0
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2022-10-11 00:00:00 UTC
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Noteworthy Tuesday Option Activity: ACN, MARA, AAL
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AAL
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https://www.nasdaq.com/articles/noteworthy-tuesday-option-activity%3A-acn-mara-aal
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nan
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nan
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Accenture plc (Symbol: ACN), where a total volume of 10,165 contracts has been traded thus far today, a contract volume which is representative of approximately 1.0 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 40.9% of ACN's average daily trading volume over the past month, of 2.5 million shares. Especially high volume was seen for the $155 strike put option expiring June 16, 2023, with 2,000 contracts trading so far today, representing approximately 200,000 underlying shares of ACN. Below is a chart showing ACN's trailing twelve month trading history, with the $155 strike highlighted in orange:
Marathon Digital Holdings Inc (Symbol: MARA) saw options trading volume of 61,900 contracts, representing approximately 6.2 million underlying shares or approximately 40.5% of MARA's average daily trading volume over the past month, of 15.3 million shares. Particularly high volume was seen for the $25 strike call option expiring October 21, 2022, with 17,419 contracts trading so far today, representing approximately 1.7 million underlying shares of MARA. Below is a chart showing MARA's trailing twelve month trading history, with the $25 strike highlighted in orange:
And American Airlines Group Inc (Symbol: AAL) options are showing a volume of 142,989 contracts thus far today. That number of contracts represents approximately 14.3 million underlying shares, working out to a sizeable 40.3% of AAL's average daily trading volume over the past month, of 35.5 million shares. Particularly high volume was seen for the $12 strike put option expiring January 20, 2023, with 25,276 contracts trading so far today, representing approximately 2.5 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $12 strike highlighted in orange:
For the various different available expirations for ACN options, MARA options, or AAL options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Particularly high volume was seen for the $12 strike put option expiring January 20, 2023, with 25,276 contracts trading so far today, representing approximately 2.5 million underlying shares of AAL. Below is a chart showing MARA's trailing twelve month trading history, with the $25 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) options are showing a volume of 142,989 contracts thus far today. That number of contracts represents approximately 14.3 million underlying shares, working out to a sizeable 40.3% of AAL's average daily trading volume over the past month, of 35.5 million shares.
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Below is a chart showing MARA's trailing twelve month trading history, with the $25 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) options are showing a volume of 142,989 contracts thus far today. That number of contracts represents approximately 14.3 million underlying shares, working out to a sizeable 40.3% of AAL's average daily trading volume over the past month, of 35.5 million shares. Particularly high volume was seen for the $12 strike put option expiring January 20, 2023, with 25,276 contracts trading so far today, representing approximately 2.5 million underlying shares of AAL.
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That number of contracts represents approximately 14.3 million underlying shares, working out to a sizeable 40.3% of AAL's average daily trading volume over the past month, of 35.5 million shares. Below is a chart showing MARA's trailing twelve month trading history, with the $25 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) options are showing a volume of 142,989 contracts thus far today. Particularly high volume was seen for the $12 strike put option expiring January 20, 2023, with 25,276 contracts trading so far today, representing approximately 2.5 million underlying shares of AAL.
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Particularly high volume was seen for the $12 strike put option expiring January 20, 2023, with 25,276 contracts trading so far today, representing approximately 2.5 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $12 strike highlighted in orange: For the various different available expirations for ACN options, MARA options, or AAL options, visit StockOptionsChannel.com. Below is a chart showing MARA's trailing twelve month trading history, with the $25 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) options are showing a volume of 142,989 contracts thus far today.
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3186.0
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2022-10-11 00:00:00 UTC
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American Airlines Now Sees Q3 Total Revenue Higher Than Prior Guidance - Quick Facts
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AAL
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https://www.nasdaq.com/articles/american-airlines-now-sees-q3-total-revenue-higher-than-prior-guidance-quick-facts
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nan
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nan
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(RTTNews) - American Airlines Group Inc. (AAL) said, during the third quarter, the company flew 68.6 billion total available seat miles, down 9.6% versus the third quarter of 2019, compared to its prior guidance of down 8% to 10%. The company expects third-quarter total revenue to be up approximately 13% versus the third quarter of 2019, which is higher than its prior guidance of up 10% to 12%. American Airlines expects to report a pre-tax margin excluding net special items of approximately 4.5% in the third quarter, higher than the previous guidance of 2% to 4%. The company expects to report an operating margin of approximately 7% in the quarter.
American Airlines expects pretax income excluding net special items of $606 million, for the third quarter. Total revenue is expected to be $13.46 billion.
The company expects to end the third quarter with approximately $14.3 billion in total available liquidity.
Shares of American Airlines Group are up 5% in pre-market trade on Tuesday.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - American Airlines Group Inc. (AAL) said, during the third quarter, the company flew 68.6 billion total available seat miles, down 9.6% versus the third quarter of 2019, compared to its prior guidance of down 8% to 10%. The company expects third-quarter total revenue to be up approximately 13% versus the third quarter of 2019, which is higher than its prior guidance of up 10% to 12%. American Airlines expects to report a pre-tax margin excluding net special items of approximately 4.5% in the third quarter, higher than the previous guidance of 2% to 4%.
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(RTTNews) - American Airlines Group Inc. (AAL) said, during the third quarter, the company flew 68.6 billion total available seat miles, down 9.6% versus the third quarter of 2019, compared to its prior guidance of down 8% to 10%. The company expects third-quarter total revenue to be up approximately 13% versus the third quarter of 2019, which is higher than its prior guidance of up 10% to 12%. American Airlines expects to report a pre-tax margin excluding net special items of approximately 4.5% in the third quarter, higher than the previous guidance of 2% to 4%.
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(RTTNews) - American Airlines Group Inc. (AAL) said, during the third quarter, the company flew 68.6 billion total available seat miles, down 9.6% versus the third quarter of 2019, compared to its prior guidance of down 8% to 10%. The company expects third-quarter total revenue to be up approximately 13% versus the third quarter of 2019, which is higher than its prior guidance of up 10% to 12%. American Airlines expects to report a pre-tax margin excluding net special items of approximately 4.5% in the third quarter, higher than the previous guidance of 2% to 4%.
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(RTTNews) - American Airlines Group Inc. (AAL) said, during the third quarter, the company flew 68.6 billion total available seat miles, down 9.6% versus the third quarter of 2019, compared to its prior guidance of down 8% to 10%. The company expects third-quarter total revenue to be up approximately 13% versus the third quarter of 2019, which is higher than its prior guidance of up 10% to 12%. American Airlines expects to report a pre-tax margin excluding net special items of approximately 4.5% in the third quarter, higher than the previous guidance of 2% to 4%.
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3187.0
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2022-10-11 00:00:00 UTC
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Pre-Market Most Active for Oct 11, 2022 : TQQQ, SQQQ, DICE, AAL, APRN, QQQ, JOBY, TSLA, CCL, HZON, NKE, F
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AAL
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https://www.nasdaq.com/articles/pre-market-most-active-for-oct-11-2022-%3A-tqqq-sqqq-dice-aal-aprn-qqq-joby-tsla-ccl-hzon
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The NASDAQ 100 Pre-Market Indicator is down -24.51 to 10,902.46. The total Pre-Market volume is currently 35,685,250 shares traded.
The following are the most active stocks for the pre-market session:
ProShares UltraPro QQQ (TQQQ) is -0.09 at $18.80, with 9,019,672 shares traded., following a 52-week high recorded in prior regular session.
ProShares UltraPro Short QQQ (SQQQ) is +0.17 at $61.10, with 4,394,554 shares traded. This represents a 117.05% increase from its 52 Week Low.
DICE Therapeutics, Inc. (DICE) is +21.6 at $46.25, with 1,901,562 shares traded. As reported in the last short interest update the days to cover for DICE is 7.390758; this calculation is based on the average trading volume of the stock.
American Airlines Group, Inc. (AAL) is +0.5501 at $12.60, with 1,742,028 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2022. The consensus EPS forecast is $0.49. AAL's current last sale is 76.36% of the target price of $16.5.
Blue Apron Holdings, Inc. (APRN) is +0.39 at $2.75, with 1,351,052 shares traded. As reported by Zacks, the current mean recommendation for APRN is in the "strong buy range".
Invesco QQQ Trust, Series 1 (QQQ) is -0.41 at $266.00, with 1,210,150 shares traded., following a 52-week high recorded in prior regular session.
Joby Aviation, Inc. (JOBY) is +0.64 at $4.49, with 1,171,165 shares traded. JOBY's current last sale is 56.13% of the target price of $8.
Tesla, Inc. (TSLA) is -0.4647 at $222.50, with 815,422 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2022. The consensus EPS forecast is $1.11. TSLA's current last sale is 66.82% of the target price of $333.
Carnival Corporation (CCL) is +0.03 at $6.41, with 742,145 shares traded., following a 52-week high recorded in prior regular session.
Horizon Acquisition Corporation II (HZON) is +0.01 at $10.03, with 677,931 shares traded.
Nike, Inc. (NKE) is -0.09 at $86.60, with 596,264 shares traded. As reported by Zacks, the current mean recommendation for NKE is in the "buy range".
Ford Motor Company (F) is +0.01 at $11.37, with 393,065 shares traded. F's current last sale is 71.06% of the target price of $16.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group, Inc. (AAL) is +0.5501 at $12.60, with 1,742,028 shares traded. AAL's current last sale is 76.36% of the target price of $16.5. ProShares UltraPro QQQ (TQQQ) is -0.09 at $18.80, with 9,019,672 shares traded., following a 52-week high recorded in prior regular session.
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American Airlines Group, Inc. (AAL) is +0.5501 at $12.60, with 1,742,028 shares traded. AAL's current last sale is 76.36% of the target price of $16.5. The total Pre-Market volume is currently 35,685,250 shares traded.
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American Airlines Group, Inc. (AAL) is +0.5501 at $12.60, with 1,742,028 shares traded. AAL's current last sale is 76.36% of the target price of $16.5. The total Pre-Market volume is currently 35,685,250 shares traded.
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AAL's current last sale is 76.36% of the target price of $16.5. American Airlines Group, Inc. (AAL) is +0.5501 at $12.60, with 1,742,028 shares traded. As reported in the last short interest update the days to cover for DICE is 7.390758; this calculation is based on the average trading volume of the stock.
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3188.0
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2022-10-11 00:00:00 UTC
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Delta Air invests $60 mln, takes stake in air taxi startup Joby Aviation
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AAL
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https://www.nasdaq.com/articles/delta-air-invests-%2460-mln-takes-stake-in-air-taxi-startup-joby-aviation
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nan
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By David Shepardson
WASHINGTON, Oct 11 (Reuters) - Delta Air Lines DAL.N said Tuesday it invested $60 million in air taxi startup Joby Aviation JOBY.N for a 2% equity stake, in a partnership that will initially offer passengers air taxi transport to and from airports in New York and Los Angeles.
Delta Chief Executive Ed Bastian told reporters the airline will also receive a board seat and the total investment could be increased to as much as $200 million.
Airlines and others are looking at developing transport services using battery-powered aircraft that can take off and land vertically to ferry travelers to airports or on short trips between cities, allowing them to beat traffic.
The companies plan to integrate a Joby-operated service into Delta's customer-facing channels to provide short-range airport transport, which Bastian said would save passengers time and distraction.
Joby has said it plans to launch air taxi service in 2024. Asked if the companies anticipated beginning service by then, Bastian did not commit to a precise date, but said: "We do have a couple years to go in terms of figuring out how to start the journey."
Joby in May received its Part 135 Air Carrier Certification from the Federal Aviation Administration, but before it can begin service will need additional regulatory approvals for its electric vertical take-off and landing (eVTOL) aircraft, as well as for building airport infrastructure and so-called "Vertiports" in neighborhoods for takeoffs and landings.
Joby CEO JoeBen Bevirt told reporters that routes to and from airports will be the "cornerstone" of Joby's service.
The companies declined to say how much the service will cost or how they will split revenue, but Bevirt said a hypothetical trip to New York's JFK airport could be shrunk from an hour or more to less than 10 minutes by air.
Several eVTOL startups are backed by major airlines or other large companies in the transporation sector.
Toyota Motor 7203.T has invested $394 million in Joby. Archer Aviation ACHR.N is backed by United Airlines UAL.O and Stellantis NV STLA.MI, while Vertical Aerospace's investors include American Airlines Inc AAL.O and Honeywell International HON.O.
As part of its investment in Vertical, American agreed to pre-order up to 250 aircraft potentially worth $1 billion and to make some pre-delivery payments.
American and United in August made a $10 million pre-delivery payment for 100 Archer eVTOL aircraft.
Delta does not plan, however, to operate Joby aircraft, Bastian said.
He said he hopes at some point the air taxis will be able to land on the tarmac to speed journeys.
(Reporting by David Shepardson; Editing by Edmund Klamann)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Archer Aviation ACHR.N is backed by United Airlines UAL.O and Stellantis NV STLA.MI, while Vertical Aerospace's investors include American Airlines Inc AAL.O and Honeywell International HON.O. Airlines and others are looking at developing transport services using battery-powered aircraft that can take off and land vertically to ferry travelers to airports or on short trips between cities, allowing them to beat traffic. The companies plan to integrate a Joby-operated service into Delta's customer-facing channels to provide short-range airport transport, which Bastian said would save passengers time and distraction.
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Archer Aviation ACHR.N is backed by United Airlines UAL.O and Stellantis NV STLA.MI, while Vertical Aerospace's investors include American Airlines Inc AAL.O and Honeywell International HON.O. By David Shepardson WASHINGTON, Oct 11 (Reuters) - Delta Air Lines DAL.N said Tuesday it invested $60 million in air taxi startup Joby Aviation JOBY.N for a 2% equity stake, in a partnership that will initially offer passengers air taxi transport to and from airports in New York and Los Angeles. American and United in August made a $10 million pre-delivery payment for 100 Archer eVTOL aircraft.
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Archer Aviation ACHR.N is backed by United Airlines UAL.O and Stellantis NV STLA.MI, while Vertical Aerospace's investors include American Airlines Inc AAL.O and Honeywell International HON.O. By David Shepardson WASHINGTON, Oct 11 (Reuters) - Delta Air Lines DAL.N said Tuesday it invested $60 million in air taxi startup Joby Aviation JOBY.N for a 2% equity stake, in a partnership that will initially offer passengers air taxi transport to and from airports in New York and Los Angeles. Airlines and others are looking at developing transport services using battery-powered aircraft that can take off and land vertically to ferry travelers to airports or on short trips between cities, allowing them to beat traffic.
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Archer Aviation ACHR.N is backed by United Airlines UAL.O and Stellantis NV STLA.MI, while Vertical Aerospace's investors include American Airlines Inc AAL.O and Honeywell International HON.O. By David Shepardson WASHINGTON, Oct 11 (Reuters) - Delta Air Lines DAL.N said Tuesday it invested $60 million in air taxi startup Joby Aviation JOBY.N for a 2% equity stake, in a partnership that will initially offer passengers air taxi transport to and from airports in New York and Los Angeles. Joby has said it plans to launch air taxi service in 2024.
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3189.0
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2022-10-10 00:00:00 UTC
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American Airlines (AAL) Dips More Than Broader Markets: What You Should Know
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AAL
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https://www.nasdaq.com/articles/american-airlines-aal-dips-more-than-broader-markets%3A-what-you-should-know-5
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American Airlines (AAL) closed at $12.05 in the latest trading session, marking a -1.07% move from the prior day. This move lagged the S&P 500's daily loss of 0.75%. Meanwhile, the Dow lost 0.32%, and the Nasdaq, a tech-heavy index, lost 0.11%.
Prior to today's trading, shares of the world's largest airline had lost 14.17% over the past month. This has lagged the Transportation sector's loss of 12.09% and the S&P 500's loss of 8.4% in that time.
American Airlines will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.49, up 149.49% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.32 billion, up 48.48% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.78 per share and revenue of $47.89 billion, which would represent changes of +90.69% and +60.28%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for American Airlines. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.76% higher within the past month. American Airlines is currently sporting a Zacks Rank of #3 (Hold).
The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 177, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.8% per year. So be sure to give these hand-picked 7 your immediate attention.
See them now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines (AAL) closed at $12.05 in the latest trading session, marking a -1.07% move from the prior day. American Airlines Group Inc. (AAL): Free Stock Analysis Report Prior to today's trading, shares of the world's largest airline had lost 14.17% over the past month.
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American Airlines Group Inc. (AAL): Free Stock Analysis Report American Airlines (AAL) closed at $12.05 in the latest trading session, marking a -1.07% move from the prior day. For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.78 per share and revenue of $47.89 billion, which would represent changes of +90.69% and +60.28%, respectively, from the prior year.
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American Airlines (AAL) closed at $12.05 in the latest trading session, marking a -1.07% move from the prior day. American Airlines Group Inc. (AAL): Free Stock Analysis Report For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.78 per share and revenue of $47.89 billion, which would represent changes of +90.69% and +60.28%, respectively, from the prior year.
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American Airlines Group Inc. (AAL): Free Stock Analysis Report American Airlines (AAL) closed at $12.05 in the latest trading session, marking a -1.07% move from the prior day. The Zacks Consensus EPS estimate has moved 4.76% higher within the past month.
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3190.0
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2022-10-10 00:00:00 UTC
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American Airlines Announces Strategic Investment In Universal Hydrogen
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AAL
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https://www.nasdaq.com/articles/american-airlines-announces-strategic-investment-in-universal-hydrogen
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nan
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(RTTNews) - American Airlines Group Inc. (AAL) Monday announced a strategic equity investment in Universal Hydrogen Co. The investment will help the development of both hydrogen-electric propulsion technology and the future of hydrogen distribution logistics.
Universal Hydrogen's fuel distribution network uses modular hydrogen capsules, eliminating the need for new fueling infrastructure at airports and speeding up fuel-loading operations.
Universal Hydrogen plans to start hydrogen deliveries for regional aircraft in 2025. The company said green hydrogen is a true zero-carbon fuel and that will put aviation on a path to zero-emission flight and to meet Paris Agreement emissions targets.
Earlier Airbus Ventures, GE Aviation, and Toyota Ventures, major hydrogen producers and aircraft lessors have done strategic investment in Universal Hydrogen.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - American Airlines Group Inc. (AAL) Monday announced a strategic equity investment in Universal Hydrogen Co. The investment will help the development of both hydrogen-electric propulsion technology and the future of hydrogen distribution logistics. The company said green hydrogen is a true zero-carbon fuel and that will put aviation on a path to zero-emission flight and to meet Paris Agreement emissions targets.
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(RTTNews) - American Airlines Group Inc. (AAL) Monday announced a strategic equity investment in Universal Hydrogen Co. Universal Hydrogen's fuel distribution network uses modular hydrogen capsules, eliminating the need for new fueling infrastructure at airports and speeding up fuel-loading operations. Earlier Airbus Ventures, GE Aviation, and Toyota Ventures, major hydrogen producers and aircraft lessors have done strategic investment in Universal Hydrogen.
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(RTTNews) - American Airlines Group Inc. (AAL) Monday announced a strategic equity investment in Universal Hydrogen Co. Universal Hydrogen's fuel distribution network uses modular hydrogen capsules, eliminating the need for new fueling infrastructure at airports and speeding up fuel-loading operations. Universal Hydrogen plans to start hydrogen deliveries for regional aircraft in 2025.
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(RTTNews) - American Airlines Group Inc. (AAL) Monday announced a strategic equity investment in Universal Hydrogen Co. The investment will help the development of both hydrogen-electric propulsion technology and the future of hydrogen distribution logistics. Universal Hydrogen's fuel distribution network uses modular hydrogen capsules, eliminating the need for new fueling infrastructure at airports and speeding up fuel-loading operations.
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3191.0
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2022-10-10 00:00:00 UTC
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Is the Options Market Predicting a Spike in American Airlines (AAL) Stock?
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AAL
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https://www.nasdaq.com/articles/is-the-options-market-predicting-a-spike-in-american-airlines-aal-stock-0
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Investors in American Airlines Group Inc AAL need to pay close attention to the stock based on moves in the options market lately. That is because the Oct 14, 2022 $1 Call had some of the highest implied volatility of all equity options today.
What is Implied Volatility?
Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
What do the Analysts Think?
Clearly, options traders are pricing in a big move for American Airlines shares, but what is the fundamental picture for the company? Currently, American Airlines is a Zacks Rank #3 (Hold) in the Transportation - Airline industry that ranks in the Bottom 27% of our Zacks Industry Rank. Over the last 60 days, three analysts have increased their earnings estimates for the current quarter, while one analyst has revised the estimate downward. The net effect has taken our Zacks Consensus Estimate for the current quarter from 43 cents per share to 48 cents in that period.
Given the way analysts feel about American Airlines right now, this huge implied volatility could mean there’s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.
Looking to Trade Options?
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7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.8% per year. So be sure to give these hand-picked 7 your immediate attention.
See them now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Investors in American Airlines Group Inc AAL need to pay close attention to the stock based on moves in the options market lately. American Airlines Group Inc. (AAL): Free Stock Analysis Report Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other.
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Investors in American Airlines Group Inc AAL need to pay close attention to the stock based on moves in the options market lately. American Airlines Group Inc. (AAL): Free Stock Analysis Report Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other.
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Investors in American Airlines Group Inc AAL need to pay close attention to the stock based on moves in the options market lately. American Airlines Group Inc. (AAL): Free Stock Analysis Report Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other.
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Investors in American Airlines Group Inc AAL need to pay close attention to the stock based on moves in the options market lately. American Airlines Group Inc. (AAL): Free Stock Analysis Report However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
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3192.0
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2022-10-10 00:00:00 UTC
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S.Africa's Kumba Iron Ore says Transnet strike will hit exports
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AAL
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https://www.nasdaq.com/articles/s.africas-kumba-iron-ore-says-transnet-strike-will-hit-exports
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nan
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Oct 10 (Reuters) - South Africa's Kumba Iron Ore's KIOJ.J production and exports will be hampered by a strike at state-owned logistics company Transnet, the miner said on Monday.
Transnet, which operates South Africa's freight rail network and all of the country's ports, declared force majeure at its ports on Thursday after some workers began a strike over wages.
"As a result of the disruption to Transnet’s rail and port services, the estimated impact on production is approximately 50,000 tonnes per day for the first seven days and thereafter approximately 90,000 tonnes per day. Export sales will be impacted by approximately 120,000 tonnes per day," Kumba said in a statement.
Kumba, which exports the bulk of its iron ore to China, Europe, Japan and South Korea, expects to produce and export between 38 million and 40 million tonnes of the mineral this year.
The company's production and exports were 40.9 million tonnes and 40.2 million tonnes respectively in 2021.
The United National Transport Union (UNTU) and the South African Transport and Allied Workers' Union (SATAWU), which together represent most Transnet workers, last week turned down Transnet's offer of a 3% to 4% wage rise, saying it was below South Africa's annual inflation rate, which was 7.6% in August.
(Reporting by Nelson Banya Editing by David Goodman )
((Nelson.Banya@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Oct 10 (Reuters) - South Africa's Kumba Iron Ore's KIOJ.J production and exports will be hampered by a strike at state-owned logistics company Transnet, the miner said on Monday. Export sales will be impacted by approximately 120,000 tonnes per day," Kumba said in a statement. The United National Transport Union (UNTU) and the South African Transport and Allied Workers' Union (SATAWU), which together represent most Transnet workers, last week turned down Transnet's offer of a 3% to 4% wage rise, saying it was below South Africa's annual inflation rate, which was 7.6% in August.
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Oct 10 (Reuters) - South Africa's Kumba Iron Ore's KIOJ.J production and exports will be hampered by a strike at state-owned logistics company Transnet, the miner said on Monday. "As a result of the disruption to Transnet’s rail and port services, the estimated impact on production is approximately 50,000 tonnes per day for the first seven days and thereafter approximately 90,000 tonnes per day. The company's production and exports were 40.9 million tonnes and 40.2 million tonnes respectively in 2021.
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"As a result of the disruption to Transnet’s rail and port services, the estimated impact on production is approximately 50,000 tonnes per day for the first seven days and thereafter approximately 90,000 tonnes per day. Kumba, which exports the bulk of its iron ore to China, Europe, Japan and South Korea, expects to produce and export between 38 million and 40 million tonnes of the mineral this year. The United National Transport Union (UNTU) and the South African Transport and Allied Workers' Union (SATAWU), which together represent most Transnet workers, last week turned down Transnet's offer of a 3% to 4% wage rise, saying it was below South Africa's annual inflation rate, which was 7.6% in August.
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Transnet, which operates South Africa's freight rail network and all of the country's ports, declared force majeure at its ports on Thursday after some workers began a strike over wages. "As a result of the disruption to Transnet’s rail and port services, the estimated impact on production is approximately 50,000 tonnes per day for the first seven days and thereafter approximately 90,000 tonnes per day. The company's production and exports were 40.9 million tonnes and 40.2 million tonnes respectively in 2021.
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3193.0
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2022-10-09 00:00:00 UTC
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Peru won't cancel Quellaveco copper mine permits, says prime minister
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AAL
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https://www.nasdaq.com/articles/peru-wont-cancel-quellaveco-copper-mine-permits-says-prime-minister
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nan
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MEXICO CITY, Oct 9 (Reuters) - Peru will maintain licenses for the Quellaveco copper mine owned by Anglo American AAL.L and Mitsubishi Corp 8058.T companies, Prime Minister Anibal Torres said on Sunday on social media.
The remarks come two days after global miner Anglo American expressed concern that the Peruvian government might be reconsidering the company's license to use water for its copper mine in southern Peru.
"The government has not talked about canceling Quellaveco's licenses," Torres said, adding that private investment in Peru is fully guaranteed, as long as it meets contractual obligations and respects the country's environmental and labor standards.
Previously, the Peruvian Ministry of Agrarian Development and Irrigation said it was evaluating the use of 22 million cubic meters of water from two rivers near Quellaveco, due to comments submitted by agricultural producers.
Anglo American maintains that its activities will not affect water availability in the area and that the authorities granted the water license in a legal and transparent manner.
Peru is the world's second-largest producer of copper, but the sector has struggled, particularly with an increase in protests by impoverished indigenous communities against mining companies in the past year.
Mining is vital for the economy of the South American country, responsible for 60% of all national exports. In late September, the government proposed a "new approach" to close social gaps and avoid conflicts in the sector.
The Quellaveco mine, which has received $5.5 billion in investment, began pilot production of copper concentrate last July, and is owned by Anglo American and Japan's Mitsubishi Corp, holding 60% and 40% of capital, respectively.
Anglo American estimates that the Quellaveco project, located in the southern region of Moquegua, will have a production of 300,000 tons per year in its first 10 years, a figure that could be affected or postponed if it runs into trouble with government licenses.
(Reporting by Aida Peláez-Fernández; Translation by Jackie Botts; Editing by Jacqueline Wong)
((jackie.botts@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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MEXICO CITY, Oct 9 (Reuters) - Peru will maintain licenses for the Quellaveco copper mine owned by Anglo American AAL.L and Mitsubishi Corp 8058.T companies, Prime Minister Anibal Torres said on Sunday on social media. "The government has not talked about canceling Quellaveco's licenses," Torres said, adding that private investment in Peru is fully guaranteed, as long as it meets contractual obligations and respects the country's environmental and labor standards. The Quellaveco mine, which has received $5.5 billion in investment, began pilot production of copper concentrate last July, and is owned by Anglo American and Japan's Mitsubishi Corp, holding 60% and 40% of capital, respectively.
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MEXICO CITY, Oct 9 (Reuters) - Peru will maintain licenses for the Quellaveco copper mine owned by Anglo American AAL.L and Mitsubishi Corp 8058.T companies, Prime Minister Anibal Torres said on Sunday on social media. The remarks come two days after global miner Anglo American expressed concern that the Peruvian government might be reconsidering the company's license to use water for its copper mine in southern Peru. The Quellaveco mine, which has received $5.5 billion in investment, began pilot production of copper concentrate last July, and is owned by Anglo American and Japan's Mitsubishi Corp, holding 60% and 40% of capital, respectively.
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MEXICO CITY, Oct 9 (Reuters) - Peru will maintain licenses for the Quellaveco copper mine owned by Anglo American AAL.L and Mitsubishi Corp 8058.T companies, Prime Minister Anibal Torres said on Sunday on social media. The remarks come two days after global miner Anglo American expressed concern that the Peruvian government might be reconsidering the company's license to use water for its copper mine in southern Peru. Anglo American estimates that the Quellaveco project, located in the southern region of Moquegua, will have a production of 300,000 tons per year in its first 10 years, a figure that could be affected or postponed if it runs into trouble with government licenses.
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MEXICO CITY, Oct 9 (Reuters) - Peru will maintain licenses for the Quellaveco copper mine owned by Anglo American AAL.L and Mitsubishi Corp 8058.T companies, Prime Minister Anibal Torres said on Sunday on social media. The remarks come two days after global miner Anglo American expressed concern that the Peruvian government might be reconsidering the company's license to use water for its copper mine in southern Peru. "The government has not talked about canceling Quellaveco's licenses," Torres said, adding that private investment in Peru is fully guaranteed, as long as it meets contractual obligations and respects the country's environmental and labor standards.
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3194.0
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2022-10-08 00:00:00 UTC
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UAL, DAL, or AAL: Which Airline Stock is Wall Street’s Top Pick Ahead of Q3 Results?
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AAL
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https://www.nasdaq.com/articles/ual-dal-or-aal%3A-which-airline-stock-is-wall-streets-top-pick-ahead-of-q3-results
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nan
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nan
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Airlines witnessed strong traffic following the reopening of the economy and easing of restrictions, thanks to pent-up travel demand. However, rise in fuel costs and severe staffing shortages impacted the pace of recovery. Staffing issues have caused massive cancellations, delays, and capacity cuts over recent months. While airlines have hiked fares to capitalize on the strong travel demand, elevated fuel costs and higher wages are expected to be drag on near-term earnings. With major airlines set to announce their third-quarter results soon, we will discuss here the prospects of three stocks – United Airlines (NASDAQ:UAL), Delta Air Lines (NYSE:DAL), and American Airlines (NASDAQ:AAL). Using TipRanks’ Stock Comparison Tool, let’s pick the airline stock that Wall Street favors the most.
United Airlines (UAL) Stock
After being crushed by COVID-related travel disruptions, United Airlines returned to profitability in the second quarter of 2022. Revenue grew 6.2% to $12.1 billion compared to 2019 levels and helped the company post adjusted earnings per share (EPS) of $1.43. However, Q2 earnings were still below the comparable period of 2019 and also lagged analysts’ expectations by a big margin.
Last month, much to the delight of investors, United slightly raised its Q3 estimates, citing continued strong demand following a robust summer and better-than-anticipated capacity trends. The carrier expects its operating revenue to grow 12% compared to 2019 levels, up from its previous estimate of 11%. Also, it anticipates adjusted operating margin to come in at 10.5% in Q3, compared to the prior forecast of 10%.
Is UAL a Good Stock to Buy?
Ahead of the Q3 earnings season, Raymond James analyst Savanthi Syth revised her forecasts to reflect lower estimates for fuel price, solid demand, increased pilot costs, the effect of Hurricane Ian, and some easing of capacity constraints.
Syth feels that the rebound in the travel demand from large companies and the Northeast region, as well as the gradual reopening of long-haul international routes puts United and Delta in “relatively stronger position” when it comes to top line recovery compared to their peers. Syth reiterated a Buy rating and a price target of $48 for UAL stock.
All in all, United scores a Moderate Buy consensus rating based on six Buys, four Holds, and one Sell. The average United Airlines stock price target of $47.45 implies 40.1% upside potential from current levels.
Delta Air Lines (DAL)
Strong demand fueled Q2 revenue growth of 10% to $13.8 billion for Delta. While the top line exceeded expectations, the company’s adjusted EPS of $1.44 significantly lagged the Street’s consensus estimate and was 39% below 2019 levels. The Q2 bottom line was hit by staff-related operational disruptions and increased costs.
Delta expects its Q3 revenue growth in the range of 1% to 5% compared to pre-pandemic levels, although it guided for a capacity that is 15% to 17% below 2019 levels. Moreover, the company reassured investors that it expects “meaningful profitability in 2022.”
Is Delta a Good Investment?
We previously mentioned Raymond James analyst Syth’s optimism about Delta. The analyst highlighted Delta’s key strengths relative to its rivals, including comparatively lower debt levels, lack of a massive aircraft order book, and its solid track record of capital deployment. In line with her investment thesis, Syth raised the price target for Delta stock to $52 from $50 and maintained a Buy rating.
Overall, the Street’s Strong Buy rating for Delta Airlines stock is based on 10 Buys and one Hold. The average DAL stock price target of $45.95 implies 56.4% upside potential.
American Airlines (AAL)
American Airlines is currently in the news due to an antitrust trial, alleging that the carrier’s Northeast alliance with JetBlue hinders competition and allows them to charge higher prices.
Meanwhile, back in July, the company stated that it expects to continue to be profitable in the third quarter, driven by revenue growth in the range of 10% to 12% compared to 2019 levels. American Airlines guided for higher Q3 revenue despite lower capacity, thus reflecting the impact of increased fares. The company’s Q2 revenue increased 12.2% (compared to Q2 2019) to $13.4 billion and was ahead of expectations. Meanwhile, Q2 adjusted EPS of $0.76 was in line with expectations, and marked the carrier’s return to profitability.
Is American Airlines a Buy or Sell?
Bank of America analyst Andrew Didora trimmed his price target for AAL stock to $7 from $8 and reiterated a Sell rating as part of his Q3 earnings preview for the airlines sector.
Earlier this week, Bank of America had highlighted its top ten ideas for the fourth quarter, which included nine Buys across various sectors and one Sell recommendation for American Airlines stock. As per the investment bank, American Airlines’ profitability is under pressure due to rising interest rates. Moreover, the analyst noted that AAL stock trades at a 34% premium to the airlines group and a 26% premium to rivals United and Delta, which exposes it to earnings multiple risk.
All in all, Wall Street is sidelined on American Airlines stock with seven Holds and one Sell. At $15.38, the average AAL stock price prediction implies 26.3% upside potential from current levels.
Conclusion
Airlines are already under pressure due to staffing challenges and high fuel costs. A potential recession might impact the recovery in travel demand and airlines' ability to bring down debt, which mounted due to the pandemic. For now, Q3 outlook reflects strong demand and higher fares. Currently, Wall Street analysts are very bullish on Delta Air Lines and also project a higher upside in DAL stock compared to United Airlines and American Airlines.
At the Morgan Stanley 10th Annual Laguna Conference held in September, Delta sounded optimistic about achieving its 2024 target of more than $7 of EPS, mid-teen margins, mid-teens return on capital.
As per TipRanks Smart Score System, Delta scores a “Perfect 10”, implying the stock could outperform the market averages over the long term.
Disclosure
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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With major airlines set to announce their third-quarter results soon, we will discuss here the prospects of three stocks – United Airlines (NASDAQ:UAL), Delta Air Lines (NYSE:DAL), and American Airlines (NASDAQ:AAL). American Airlines (AAL) American Airlines is currently in the news due to an antitrust trial, alleging that the carrier’s Northeast alliance with JetBlue hinders competition and allows them to charge higher prices. Bank of America analyst Andrew Didora trimmed his price target for AAL stock to $7 from $8 and reiterated a Sell rating as part of his Q3 earnings preview for the airlines sector.
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With major airlines set to announce their third-quarter results soon, we will discuss here the prospects of three stocks – United Airlines (NASDAQ:UAL), Delta Air Lines (NYSE:DAL), and American Airlines (NASDAQ:AAL). American Airlines (AAL) American Airlines is currently in the news due to an antitrust trial, alleging that the carrier’s Northeast alliance with JetBlue hinders competition and allows them to charge higher prices. Bank of America analyst Andrew Didora trimmed his price target for AAL stock to $7 from $8 and reiterated a Sell rating as part of his Q3 earnings preview for the airlines sector.
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With major airlines set to announce their third-quarter results soon, we will discuss here the prospects of three stocks – United Airlines (NASDAQ:UAL), Delta Air Lines (NYSE:DAL), and American Airlines (NASDAQ:AAL). American Airlines (AAL) American Airlines is currently in the news due to an antitrust trial, alleging that the carrier’s Northeast alliance with JetBlue hinders competition and allows them to charge higher prices. Bank of America analyst Andrew Didora trimmed his price target for AAL stock to $7 from $8 and reiterated a Sell rating as part of his Q3 earnings preview for the airlines sector.
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With major airlines set to announce their third-quarter results soon, we will discuss here the prospects of three stocks – United Airlines (NASDAQ:UAL), Delta Air Lines (NYSE:DAL), and American Airlines (NASDAQ:AAL). American Airlines (AAL) American Airlines is currently in the news due to an antitrust trial, alleging that the carrier’s Northeast alliance with JetBlue hinders competition and allows them to charge higher prices. Bank of America analyst Andrew Didora trimmed his price target for AAL stock to $7 from $8 and reiterated a Sell rating as part of his Q3 earnings preview for the airlines sector.
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3195.0
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2022-10-07 00:00:00 UTC
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Southwest pilots union backs Boeing on MAX 7, 10 certification extension
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AAL
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https://www.nasdaq.com/articles/southwest-pilots-union-backs-boeing-on-max-7-10-certification-extension
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nan
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nan
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By David Shepardson
WASHINGTON, Oct 7 (Reuters) - The union representing about 10,000 Southwest Airlines LUV.N pilots told Reuters on Friday it supports an effort in Congress to extend an exemption from modern cockpit alerting requirements for the Boeing BA.N 737 MAX 7 and MAX 10 airplanes.
Boeing faces a December deadline to win approval from the Federal Aviation Administration (FAA) of the 737 MAX 7 and 10 variants, or it must meet new modern cockpit-alerting requirements that could significantly delay the plane's entry into service.
Southwest Airlines Pilots Association President Capt. Casey Murray said in an interview Friday it made sense to have common alerts through the 737 family of airplanes.
"We believe in the interest of safety and commonality that it should be certified under the same rules," Murray said, adding he supports the legislation's goal to require future planes to have modern cockpit alerting systems.
On Wednesday, the Allied Pilots Association representing 15,000 American Airlines AAL.O pilots said it opposes the extension for the Boeing MAX airplanes.
Both American and Southwest fly the MAX 8. Southwest has ordered MAX 7 planes.
Boeing argues it is safer to have one common 737 cockpit alerting system. "A consistent operational experience across an airplane family is an industry best practice that benefits flight crews and the flying public by enhancing safety and reducing risk," Boeing said.
The requirements were adopted by Congress as part of certification reform passed after two fatal 737 MAX crashes killed 346 people and led to the bestselling plane's 20-month grounding.
Reuters reported on Monday that Boeing does not anticipate winning regulatory approval for the MAX 10 before next summer, according to an FAA letter.
The Air Line Pilots Association, representing 65,000 airline pilots in North America, did not say Friday if it supports or opposes the extension.
(Reporting by David Shepardson Editing by Chris Reese and Nick Zieminski)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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On Wednesday, the Allied Pilots Association representing 15,000 American Airlines AAL.O pilots said it opposes the extension for the Boeing MAX airplanes. Boeing faces a December deadline to win approval from the Federal Aviation Administration (FAA) of the 737 MAX 7 and 10 variants, or it must meet new modern cockpit-alerting requirements that could significantly delay the plane's entry into service. "We believe in the interest of safety and commonality that it should be certified under the same rules," Murray said, adding he supports the legislation's goal to require future planes to have modern cockpit alerting systems.
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On Wednesday, the Allied Pilots Association representing 15,000 American Airlines AAL.O pilots said it opposes the extension for the Boeing MAX airplanes. By David Shepardson WASHINGTON, Oct 7 (Reuters) - The union representing about 10,000 Southwest Airlines LUV.N pilots told Reuters on Friday it supports an effort in Congress to extend an exemption from modern cockpit alerting requirements for the Boeing BA.N 737 MAX 7 and MAX 10 airplanes. The Air Line Pilots Association, representing 65,000 airline pilots in North America, did not say Friday if it supports or opposes the extension.
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On Wednesday, the Allied Pilots Association representing 15,000 American Airlines AAL.O pilots said it opposes the extension for the Boeing MAX airplanes. By David Shepardson WASHINGTON, Oct 7 (Reuters) - The union representing about 10,000 Southwest Airlines LUV.N pilots told Reuters on Friday it supports an effort in Congress to extend an exemption from modern cockpit alerting requirements for the Boeing BA.N 737 MAX 7 and MAX 10 airplanes. Boeing faces a December deadline to win approval from the Federal Aviation Administration (FAA) of the 737 MAX 7 and 10 variants, or it must meet new modern cockpit-alerting requirements that could significantly delay the plane's entry into service.
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On Wednesday, the Allied Pilots Association representing 15,000 American Airlines AAL.O pilots said it opposes the extension for the Boeing MAX airplanes. By David Shepardson WASHINGTON, Oct 7 (Reuters) - The union representing about 10,000 Southwest Airlines LUV.N pilots told Reuters on Friday it supports an effort in Congress to extend an exemption from modern cockpit alerting requirements for the Boeing BA.N 737 MAX 7 and MAX 10 airplanes. Southwest Airlines Pilots Association President Capt.
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3196.0
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2022-10-07 00:00:00 UTC
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Anglo American says it is worried about delays at new Peru copper mine
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AAL
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https://www.nasdaq.com/articles/anglo-american-says-it-is-worried-about-delays-at-new-peru-copper-mine
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nan
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nan
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By Marco Aquino
LIMA, Oct 7 (Reuters) - Global miner Anglo American AAL.L said on Friday it was worried about potential delays at its new Quellaveco mine in the Peruvian Andes, after the government signaled it might take a second look at its water permits.
"Some of the positions we have heard from the government regarding the issuance of water licenses for Quellaveco, they obviously generate worry," Claudia Vivanco, Anglo American’s corporate manager in Peru told Reuters.
Peru is the world's No. 2 copper producer and Anglo American's Quellaveco mine is the largest new project set to start commercial operations this year, with an investment of $5.5 billion. Once operational, it will produce around 300,000 tonnes of copper annually.
But Anglo American and Peru's mining sector are worried that a start of commercial operations will be delayed after Peru's ministry of agriculture said it would review Quellaveco's water permits, over concerns from local farmers that it may deprive them of water.
"The government cannot chance technical decisions based on political pressure," Peru's mining chamber SNMPE said in a statement.
Vivanco said Quellaveco had already obtained its water licenses based on a process that was "technical, transparent and public" and that the questions now raised were not sustained by facts. Large-scale mining generally requires significant amounts of water.
"We are looking for a balance between responsible extraction and the continuity of (local) farming," the agriculture ministry said in a statement on Friday, adding it was respectful of private investment.
The water permit, the ministry said, allows Quellaveco to use 22 million cubic meters of water from two rivers that also flow onto Peru's Tambo Valley, where farmers have expressed worry.
Anglo American said worries were unfounded and that its principal source of water is not suitable for agriculture.
"We trust that the government will make the best decisions to benefit the country's development and within the rule of law," Vivanco added.
(Reporting by Marco Aquino Editing by Marguerita Choy)
((marcelo.rochabrun@thomsonreuters.com; +55 11 5644 7768;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Marco Aquino LIMA, Oct 7 (Reuters) - Global miner Anglo American AAL.L said on Friday it was worried about potential delays at its new Quellaveco mine in the Peruvian Andes, after the government signaled it might take a second look at its water permits. "Some of the positions we have heard from the government regarding the issuance of water licenses for Quellaveco, they obviously generate worry," Claudia Vivanco, Anglo American’s corporate manager in Peru told Reuters. 2 copper producer and Anglo American's Quellaveco mine is the largest new project set to start commercial operations this year, with an investment of $5.5 billion.
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By Marco Aquino LIMA, Oct 7 (Reuters) - Global miner Anglo American AAL.L said on Friday it was worried about potential delays at its new Quellaveco mine in the Peruvian Andes, after the government signaled it might take a second look at its water permits. 2 copper producer and Anglo American's Quellaveco mine is the largest new project set to start commercial operations this year, with an investment of $5.5 billion. But Anglo American and Peru's mining sector are worried that a start of commercial operations will be delayed after Peru's ministry of agriculture said it would review Quellaveco's water permits, over concerns from local farmers that it may deprive them of water.
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By Marco Aquino LIMA, Oct 7 (Reuters) - Global miner Anglo American AAL.L said on Friday it was worried about potential delays at its new Quellaveco mine in the Peruvian Andes, after the government signaled it might take a second look at its water permits. "Some of the positions we have heard from the government regarding the issuance of water licenses for Quellaveco, they obviously generate worry," Claudia Vivanco, Anglo American’s corporate manager in Peru told Reuters. But Anglo American and Peru's mining sector are worried that a start of commercial operations will be delayed after Peru's ministry of agriculture said it would review Quellaveco's water permits, over concerns from local farmers that it may deprive them of water.
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By Marco Aquino LIMA, Oct 7 (Reuters) - Global miner Anglo American AAL.L said on Friday it was worried about potential delays at its new Quellaveco mine in the Peruvian Andes, after the government signaled it might take a second look at its water permits. "Some of the positions we have heard from the government regarding the issuance of water licenses for Quellaveco, they obviously generate worry," Claudia Vivanco, Anglo American’s corporate manager in Peru told Reuters. 2 copper producer and Anglo American's Quellaveco mine is the largest new project set to start commercial operations this year, with an investment of $5.5 billion.
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3197.0
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2022-10-07 00:00:00 UTC
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Zacks.com featured highlights include American Airlines, CVR Energy, C.H. Robinson, Ford Motor and DISH Network
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AAL
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https://www.nasdaq.com/articles/zacks.com-featured-highlights-include-american-airlines-cvr-energy-c.h.-robinson-ford
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For Immediate Release
Chicago, IL – October 7, 2022 – Stocks in this week’s article are American Airlines AAL, CVR Energy CVI, C.H. Robinson CHRW, Ford Motor Co. F and DISH Network Corp. DISH.
5 Broker-Friendly Stocks to Watch Despite Market Mayhem
Mounting inflation in the United States is a key concern, implying that market volatility is still rampant. To tame the red-hot inflation, the Fed has hiked interest rates 300 basis points so far this year. The central bank further vowed to raise interest rates to drag down inflation to its 2% target at best by 2025. Soaring interest rates will continue to increase the cost of borrowing, which in turn, will persistently affect consumer spending. In fact, the Fed also warned of economic hardship going forward.
Rising energy and food prices apart, supply-chain disruptions and the resultant supply-demand imbalance are aggravating the stock market volatility. This uncertainty caused the three major stock indexes — the Dow, the S&P 500 and the Nasdaq composite — to shed 8.8%, 9.3% and 10.5% of their value, respectively, in September.
However, this gloomy scenario does not mean that investors should dodge stocks. In fact, broker-friendly stocks like American Airlines, CVR Energy, C.H. Robinson, Ford Motor Co. and DISH Network Corp. are worth keeping on one's radar for healthy returns despite this market bloodbath.
Why Broker Advice is the Need of the Hour
Brokers, irrespective of their types (sell-side, buy-side or independent), embark on thorough research of the stocks under their coverage. They go through minute details of the publicly available financial documents apart from attending company conference calls and other presentations. Since brokers indulge in extensive research, the question of their actions being arbitrary does not arise.
Therefore, the brokers' opinion can be a valuable guide for investors. Thus, adhering to brokers' well-researched information is of paramount importance, particularly in uncertain times such as the present scenario. This is because it is next to impossible for individual investors to keep track of the market nuances amid such economic upheavals and design a winning basket of stocks.
One of the well-accepted investment strategies is to maintain a diversified portfolio to generate handsome returns, irrespective of the market conditions. For instance, in the face of extremely low oil prices, analysts adopt a bullish stance on airline stocks and raise estimates. Naturally, adding such stocks to one's portfolio amid an unpredictable situation might prove to be a winning strategy.
To take care of the earnings performance, we designed a screen based on improving broker recommendations and upward estimate revisions over the last four weeks.
Do Not Ignore the Top Line
However, designing a strategy based solely on the bottom line is unlikely to lead to a winning approach. Actually, according to many market watchers, a revenue beat is more creditable for a company than a mere earnings outperformance. To address top-line concerns, we included in our screen the price/sales ratio, which serves as a strong complementary valuation metric.
Here are five of the 10 stocks that made it through the screen:
American Airlines is based in Fort Worth, TX. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. However, high fuel costs are hurting the bottom line.
Over the past 60 days, the stock has seen the Zacks Consensus Estimate for 2022 earnings being revised 8.42% upward. AAL currently carries a Zacks Rank #3 (Hold).
CVR Energy is an independent refiner and marketer of high-value transportation fuels. CVI is also a producer of ammonia and urea ammonia nitrate fertilizers. CVI's petroleum business includes full-coking sour crude refinery in Coffeyville, KS. Its efforts to reward its shareholders underline its strong financial position. The robust Nitrogen Fertilizer unit is supporting growth.
CVR Energy, currently sporting a Zacks Rank #1 (Strong Buy), has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 20.21% over the past 60 days. You can see the complete list of today's Zacks #1 Rank stocks here.
C.H. Robinson Worldwide, currently carrying a Zacks Rank of 3, operates as an asset-light logistics player. The improving freight scenario in the United States is aiding this Minnesota-based freight broker. Efforts to control costs also bode well. Measures to reward CHRW's shareholders instill further confidence in the stock.
C.H. Robinson has an encouraging earnings track record. The bottom line surpassed the Zacks Consensus Estimate in three of the trailing four quarters (missing the mark in the remaining one). CHRW has witnessed the Zacks Consensus Estimate for 2022 earnings being revised 2.09% upward over the past 60 days.
Ford's vehicle line-up, supported by F-series trucks, Maverick pickup and SUV models, including Escape, Explorer, Expedition, EcoSport and Edge is impressive. F's North America market, which accounts for the bulk of total automotive revenues, is set to drive solid results.
Ford currently carries a Zacks Rank #3. F has witnessed the Zacks Consensus Estimate for 2022 earnings being revised 0.5% upward over the past 60 days.
DISH Network's focus on acquiring and retaining subscribers, who will be profitable in the long term, is commendable and is expected to drive growth. DISH created an extensive portfolio of spectrum, the most important component of wireless networks.
At DISH, earnings surpassed the Zacks Consensus Estimate in two of the trailing four quarters (missing the mark in the remaining two). The average beat is 6%. DISH currently carries a Zacks Rank #3.
You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and backtest them first before taking the investment plunge.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
Click here to sign up for a free trial to the Research Wizard today.
For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/1988550/5-broker-friendly-stocks-to-watch-despite-market-mayhem
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
About Screen of the Week
Zacks.com created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine. But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Ford Motor Company (F): Free Stock Analysis Report
DISH Network Corporation (DISH): Free Stock Analysis Report
C.H. Robinson Worldwide, Inc. (CHRW): Free Stock Analysis Report
CVR Energy Inc. (CVI): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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For Immediate Release Chicago, IL – October 7, 2022 – Stocks in this week’s article are American Airlines AAL, CVR Energy CVI, C.H. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. AAL currently carries a Zacks Rank #3 (Hold).
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For Immediate Release Chicago, IL – October 7, 2022 – Stocks in this week’s article are American Airlines AAL, CVR Energy CVI, C.H. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. AAL currently carries a Zacks Rank #3 (Hold).
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For Immediate Release Chicago, IL – October 7, 2022 – Stocks in this week’s article are American Airlines AAL, CVR Energy CVI, C.H. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. AAL currently carries a Zacks Rank #3 (Hold).
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For Immediate Release Chicago, IL – October 7, 2022 – Stocks in this week’s article are American Airlines AAL, CVR Energy CVI, C.H. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. AAL currently carries a Zacks Rank #3 (Hold).
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3198.0
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2022-10-06 00:00:00 UTC
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5 Broker-Friendly Stocks to Watch Despite Market Mayhem
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AAL
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https://www.nasdaq.com/articles/5-broker-friendly-stocks-to-watch-despite-market-mayhem
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nan
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nan
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Mounting inflation in the United States is a key concern, implying that market volatility is still rampant. To tame the red-hot inflation, the Fed has hiked interest rates 300 basis points so far this year. The central bank further vowed to raise interest rates to drag down inflation to its 2% target at best by 2025. Soaring interest rates will continue to increase the cost of borrowing, which in turn, will persistently affect consumer spending. In fact, the Fed also warned of economic hardship going forward.
Rising energy and food prices apart, supply-chain disruptions and the resultant supply-demand imbalance are aggravating the stock market volatility. This uncertainty caused the three major stock indexes — the Dow, the S&P 500 and the Nasdaq composite — to shed 8.8%, 9.3% and 10.5% of their value, respectively, in September.
However, this gloomy scenario does not mean that investors should dodge stocks. In fact, broker-friendly stocks like American Airlines AAL, CVR Energy CVI, C.H. Robinson CHRW, Ford Motor Company F and DISH Network Corporation DISH are worth keeping on one’s radar for healthy returns despite this market bloodbath.
Why Broker Advice is the Need of the Hour
Brokers, irrespective of their types (sell-side, buy-side or independent), embark on thorough research of the stocks under their coverage. They go through minute details of the publicly available financial documents apart from attending company conference calls and other presentations. Since brokers indulge in extensive research, the question of their actions being arbitrary does not arise.
Therefore, the brokers’ opinion can be a valuable guide for investors. Thus, adhering to brokers’ well-researched information is of paramount importance, particularly in uncertain times such as the present scenario. This is because it is next to impossible for individual investors to keep track of the market nuances amid such economic upheavals and design a winning basket of stocks.
One of the well-accepted investment strategies is to maintain a diversified portfolio to generate handsome returns, irrespective of the market conditions. For instance, in the face of extremely low oil prices, analysts adopt a bullish stance on airline stocks and raise estimates. Naturally, adding such stocks to one’s portfolio amid an unpredictable situation might prove to be a winning strategy.
To take care of the earnings performance, we designed a screen based on improving broker recommendations and upward estimate revisions over the last four weeks.
Do Not Ignore the Top Line
However, designing a strategy based solely on the bottom line is unlikely to lead to a winning approach. Actually, according to many market watchers, a revenue beat is more creditable for a company than a mere earnings outperformance. To address top-line concerns, we included in our screen the price/sales ratio, which serves as a strong complementary valuation metric.
Screening Criteria
# (Up- Down Rating)/ Total (4 weeks) =Top #75(This gives the list of top 75 companies that have witnessed net upgrades over the last 4 weeks).
% change in Q (1) est. (4 weeks) = Top #10(This gives the top 10 stocks that have witnessed earnings estimate revisions over the past 4 weeks for the upcoming quarter).
We have also added the following screening parameters to ensure that the strategy is a winning one:
Price-to-Sales = Bot%10(The lower the ratio the better, companies meeting this criteria are in bottom 10% of our universe of over 7,700 stocks with respect to this ratio).
Price greater than 5(as a stock trading below $5 will not likely create significant interest for most of the investors).
Average Daily Volume greater than 100,000 shares over the last 20 trading days(Volume has to be significant to ensure that these are easily traded).
Market value ($ mil) = Top #3000(This gives us stocks that are the top 3000 in terms of market capitalization).
Com/ADR/Canadian= Com(This takes out the ADR and Canadian stocks).
Here are five of the 10 stocks that made it through the screen:
American Airlines is based in Fort Worth, TX. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. However, high fuel costs are hurting the bottom line.
Over the past 60 days, the stock has seen the Zacks Consensus Estimate for 2022 earnings being revised 8.42% upward. AAL currently carries a Zacks Rank #3 (Hold).
CVR Energy is an independent refiner and marketer of high-value transportation fuels. CVI is also a producer of ammonia and urea ammonia nitrate fertilizers. CVI's petroleum business includes full-coking sour crude refinery in Coffeyville, KS. Its efforts to reward its shareholders underline its strong financial position. The robust Nitrogen Fertilizer unit is supporting growth.
CVR Energy, currently sporting a Zacks Rank #1 (Strong Buy), has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 20.21% over the past 60 days. You can see the complete list of today’s Zacks #1 Rank stocks here.
C.H. Robinson Worldwide, currently carrying a Zacks Rank of 3, operates as an asset-light logistics player. The improving freight scenario in the United States is aiding this Minnesota-based freight broker. Efforts to control costs also bode well. Measures to reward CHRW's shareholders instill further confidence in the stock.
C.H. Robinson has an encouraging earnings track record. The bottom line surpassed the Zacks Consensus Estimate in three of the trailing four quarters (missing the mark in the remaining one). CHRW has witnessed the Zacks Consensus Estimate for 2022 earnings being revised 2.09% upward over the past 60 days.
Ford’s vehicle line-up, supported by F-series trucks, Maverick pickup and SUV models, including Escape, Explorer, Expedition, EcoSport and Edge is impressive. F’s North America market, which accounts for the bulk of total automotive revenues, is set to drive solid results.
Ford currently carries a Zacks Rank #3. F has witnessed the Zacks Consensus Estimate for 2022 earnings being revised 0.5% upward over the past 60 days.
DISH Network’s focus on acquiring and retaining subscribers, who will be profitable in the long term, is commendable and is expected to drive growth. DISH created an extensive portfolio of spectrum, the most important component of wireless networks.
At DISH, earnings surpassed the Zacks Consensus Estimate in two of the trailing four quarters (missing the mark in the remaining two). The average beat is 6%. DISH currently carries a Zacks Rank #3.
You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and backtest them first before taking the investment plunge.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
Click here to sign up for a free trial to the Research Wizard today.
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
Disclosure: Performance information for Zacks’ portfolios and strategies are available at: https://www.zacks.com/performance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
DISH Network Corporation (DISH): Free Stock Analysis Report
C.H. Robinson Worldwide, Inc. (CHRW): Free Stock Analysis Report
CVR Energy Inc. (CVI): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In fact, broker-friendly stocks like American Airlines AAL, CVR Energy CVI, C.H. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. AAL currently carries a Zacks Rank #3 (Hold).
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In fact, broker-friendly stocks like American Airlines AAL, CVR Energy CVI, C.H. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. AAL currently carries a Zacks Rank #3 (Hold).
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In fact, broker-friendly stocks like American Airlines AAL, CVR Energy CVI, C.H. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. AAL currently carries a Zacks Rank #3 (Hold).
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AAL currently carries a Zacks Rank #3 (Hold). In fact, broker-friendly stocks like American Airlines AAL, CVR Energy CVI, C.H. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL.
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3199.0
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2022-10-05 00:00:00 UTC
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Pilots union opposes granting Boeing 737 MAX 7, 10 cockpit alerting extension
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AAL
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https://www.nasdaq.com/articles/pilots-union-opposes-granting-boeing-737-max-7-10-cockpit-alerting-extension
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nan
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nan
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By David Shepardson
WASHINGTON, Oct 5 (Reuters) - The union representing 15,000 American Airlines AAL.O pilots said on Wednesday it strongly opposes an effort in Congress to extend an exemption from modern cockpit alerting requirements for the Boeing 737 MAX 7 and 10.
Boeing BA.N faces a December deadline to win approval from the Federal Aviation Administration (FAA) of the 737 MAX 7 and 10 variants, or it must meet new modern cockpit-alerting requirements that could significantly delay the plane's entry into service.
Allied Pilots Association President Capt. Edward Sicher said "Boeing needs to proceed with installing modern crew alerting systems on these aircraft to mitigate pilot startle-effect and confusion during complex, compound system malfunctions."
The FAA declined to comment. Boeing, which did not immediately respond to a request for comment, has said it is safer to have one common cockpit alerting system for all versions of the 737.
Reuters reported on Monday that Boeing does not anticipate winning regulatory approval for its 737 MAX 10 before next summer, according to an FAA letter to Congress.
There is no indication yet if Wicker's proposal has the support of other key lawmakers including committee chair Senator Maria Cantwell, a Democrat. Cantwell's office did not immediately comment.
The requirements were adopted as part of a certification reform bill passed after two fatal 737 MAX crashes killed 346 people and led to the best-selling plane's 20-month grounding.
Relatives of many of those killed in the MAX crashes also oppose giving Boeing an extension. They wrote a letter in July opposing the extension and suggest Boeing had resorted "to bullying Congress."
Sicher said the pilots union did not agree "with Boeing’s claim that pilots could become confused when moving from an airplane without the modern alert system to one that is equipped with it. Nothing could be further from our flight deck reality."
(Reporting by David Shepardson Editing by Chris Reese and Marguerita Choy)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson WASHINGTON, Oct 5 (Reuters) - The union representing 15,000 American Airlines AAL.O pilots said on Wednesday it strongly opposes an effort in Congress to extend an exemption from modern cockpit alerting requirements for the Boeing 737 MAX 7 and 10. Boeing BA.N faces a December deadline to win approval from the Federal Aviation Administration (FAA) of the 737 MAX 7 and 10 variants, or it must meet new modern cockpit-alerting requirements that could significantly delay the plane's entry into service. The requirements were adopted as part of a certification reform bill passed after two fatal 737 MAX crashes killed 346 people and led to the best-selling plane's 20-month grounding.
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By David Shepardson WASHINGTON, Oct 5 (Reuters) - The union representing 15,000 American Airlines AAL.O pilots said on Wednesday it strongly opposes an effort in Congress to extend an exemption from modern cockpit alerting requirements for the Boeing 737 MAX 7 and 10. Boeing, which did not immediately respond to a request for comment, has said it is safer to have one common cockpit alerting system for all versions of the 737. Relatives of many of those killed in the MAX crashes also oppose giving Boeing an extension.
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By David Shepardson WASHINGTON, Oct 5 (Reuters) - The union representing 15,000 American Airlines AAL.O pilots said on Wednesday it strongly opposes an effort in Congress to extend an exemption from modern cockpit alerting requirements for the Boeing 737 MAX 7 and 10. Edward Sicher said "Boeing needs to proceed with installing modern crew alerting systems on these aircraft to mitigate pilot startle-effect and confusion during complex, compound system malfunctions." Sicher said the pilots union did not agree "with Boeing’s claim that pilots could become confused when moving from an airplane without the modern alert system to one that is equipped with it.
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By David Shepardson WASHINGTON, Oct 5 (Reuters) - The union representing 15,000 American Airlines AAL.O pilots said on Wednesday it strongly opposes an effort in Congress to extend an exemption from modern cockpit alerting requirements for the Boeing 737 MAX 7 and 10. Reuters reported on Monday that Boeing does not anticipate winning regulatory approval for its 737 MAX 10 before next summer, according to an FAA letter to Congress. Cantwell's office did not immediately comment.
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