Delta shares soar on September, post-hurricane operating results
NEW YORK (Reuters) – Airline shares were up overall on Tuesday and Delta Air Lines Inc (DAL.N) by as much as 6.62 percent on its monthly traffic results, as the Atlanta-based carrier reported a softer-than-expected impact from powerful and disruptive hurricanes last month.
Delta’s shares soared 6.62 percent in afternoon trading after the carrier reported its September operational performance. In its report, Delta lowered its third quarter operating margin guidance to between 15.5 percent and 16.5 percent, from between 16.5 and 17.5 percent.
Why Delta Airlines Stock Jumped 6.6% Today
Shares of Delta Air Lines (NYSE:DAL) stock closed up 6.6% on Tuesday, after the company reported respectable performance on its operating statistics for September, despite a weather-plagued month.Delta noted that in September, “Hurricanes Irma and Maria impacted [its] operations across the Caribbean and Southeastern United States,” and added: “
Hurricane Irma significantly impacted operations with 2,200 flights cancelled from Sept. 7-12 at airports in Florida, the Caribbean, and Georgia, including the company’s Atlanta hub.”
Despite these headwinds, Delta said it grew revenue passenger miles 0.3% year over year in September, and available seat miles 0.6%, with its load factor — the percentage of those seats flying with passengers sitting in them — declining only 0.2%.
Here’s Why Delta, JetBlue And Other Airlines Are Surging Today
Delta Air Lines (DAL) jumped on Tuesday after the carrier forecast third-quarter unit revenue that, when factoring out Hurricane Irma, was better than feared.
The forecast appeared to offer some relief to other airlines — including American Airlines (AAL), JetBlue (JBLU) and Spirit Airlines (SAVE) — that send a lot of planes to and from Florida and other areas in the storm’s path. “Excluding the hurricane, overall guidance is positive and likely speaks to stabilizing pricing trends for Delta,” Cowen said in a research note.
Today's Trading Lesson
Sector Rotation | Stock Picking Strategies
The fact we keep going higher or the fact that there’s lighter volume?
You aren’t going to take the volume into the bank.
We’ve been harping on this now for three months but I think it’s still important, it is finding the individual stocks.
We’re not really trading the markets, it’s really hard to trade the market as a whole with choppy light volume. You get stopped out a lot if you’re trading the indices.
If we can find the strong sectors or the weak sectors we can trade them, those are the easier trades. Find where the institutions are active.
Watch the video and continue reading…
Today's Trade of the Day | 10-4-17
PM-Philip Morris traded into minor support but sets up a solid swing trade, short sale. And in the spirit of today's trading lesson on sector rotation, we began the day looking for stocks showing relative weakness to a strong stock market. Game planning for the stock to pause for a day or two and then resume the bearish order flow with an ultimate target of $100 to cover the short.
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Stock Market Sector Performance
Stocks to Trade | Wednesday Edition 10-4-17
Airline stocks surge on traffic results…
Bullish Momentum: DAL, UAL, AAL, LUV
Bearish Momentum: bzun
Bullish Order Flow: AAL, LUV, YELP, AA, PSX, HFC, XLNX, MU, HD, LOW, VLO, DE, JPM, COF, C, DLTR, GS, ROST, TXN, LLY, ADI, AMGN, CELG, HON, KITE, BA, UNP, AMAT, COST, LRCX, BIDU, PNC, LYB, UPS
Bearish Order Flow: k, gis, pm, khc, pep, wba, momo
Double Normal Volume: DAL, EFX, SLCA
Inside Days: m, nvda, fb, hpq, apc, pg, mdt, nbl, coh, v, gsk, azn, nflx, gis, bbby, cog, mos, k, unp, kss, pgr, khc, mnk, lly, celg, esrx, bidu, clr, juno
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