Airline stocks are on the rise Thursday and investors can thank Delta Air Lines (NYSE:DAL) for the recent boost in attention.
That’s due to Delta announcing a travel boom that has resulted in strong earnings for the second quarter of 2023. This resulted in a record EPS of $2.68 per share alongside record operating revenue of $15.6 billion. Wall Street was only expecting $2.40 per share on revenue of $14.49 billion for the period.
Considering the positive earnings in its latest report, it makes sense that Delta also increased its outlook for 2023. This now has it expecting EPS for the year to range from $6 to $7 per share. For the record, Wall Street expects revenue of $6.17 per share for the year.
Citi analyst Stephen Trent also said the following about DAL stock in a note to clients obtained by Barron’s:
“Overall, the carrier’s results and guide look very encouraging […] Citi continues to identify Buy-rated Delta as its favorite U.S. carrier.”
With this news, other airline stocks got an initial increase this morning. Let’s get into that below!
Airline Stocks Moving on Thursday
- DAL starts us off with the company’s shares slipping slightly since its earlier gains.
- United Airlines (NASDAQ:UAL) stock is getting a slight boost as of Thursday morning.
- American Airlines (NASDAQ:AAL) shares saw gains earlier today but are down slightly as of this writing.
- Southwest Airlines (NYSE:LUV) stock is another that started off strong this morning before giving up its rally.
Investors can find more of the most recent stock market news down below!
We’ve got all of the latest stock market coverage ready to go for Thursday! Among that is why shares of The Trade Desk (NASDAQ:TTD), Mullen Automotive (NASDAQ:MULN) and Cirrus Logic (NASDAQ:CRUS) stock are moving today. All of that is ready to go with the following links!
More Thursday Stock Market News
- Dear TTD Stock Fans, Mark Your Calendars for July 17
- MULN Stock Alert: Mullen Testing EV in New York
- Cirrus Logic Layoffs 2023: What to Know About the Latest CRUS Job Cuts
On the date of publication, William White did not hold (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.
