Delta Air Lines Inc (NYSE:DAL) led a soaring airline sector after it revised guidance for its upcoming first-quarter results. The company projects earnings between $0.85 and $0.95 per share, up from prior guidance and ahead of Street expectations of $0.81 EPS. Revenue is expected to grow 7% to $10.4 billion, up from a previous growth range between 4% and 6%, per Investor’s Business Daily, and out in front of analysts’ $10.3 billion expectations. The company also extended its agreement with American Express Company (NYSE:AXP) through 2029, a deal which will pay more than in previous years.
Delta shares flew 6% higher to close at $55.33.
United Continental Holdings (NASDAQ:UAL), American Airlines Group (NASDAQ:AAL) and Southwest Airlines Co. (NYSE:LUV) were all boosted by declining fuel cost projections and increasing passenger demand, according to Zacks. United expects first-quarter fuels costs between $1.97 and $2.02 per gallon, compared to $2.10 in the previous year. American anticipates costs between $2 and $2.05 per gallon for its fiscal fourth quarter, well below the $2.30 a year ago. Southwest expects the same after paying $20.9 per gallon in the year-ago quarter.
United shares grew 2.4% to $82.77, American increased 2% to $32.99 and Southwest advanced 0.6% to $52.71.
Walgreens Boots Alliance Inc (NASDAQ:WBA) stock fell hard after the company posted fiscal second-quarter results that missed on earnings and announced cuts to its future guidance. The drugstore giant brought in adjusted earnings of $1.64 on revenue of $34.6 billion, compared with Street expectations of $1.74 EPS on revenue $34.6 billion. The Deerfield, Illinois-based company now expects fiscal 2019 EPS growth to be flat, down from anticipated growth of between 7% and 12%.
The share price dried up 12.8% to $55.36.
Lyft Inc (NASDAQ:LYFT) stock skidded slightly Tuesday after quickly giving back the gains of its red-hot IPO. The ride-sharing company set its IPO price at $72, and trading opened at $87.24, the biggest American IPO in five years. Now, the stock is down nearly $20 from its debut price. Meanwhile, Cboe Global Markets Inc (BATS:CBOE) announced it plans to list options on the San Francisco company’s stock on Thursday, per MarketWatch.
Invetors are tapping the brakes, sending shares down less than 0.1% to $68.97.
Bitcoin USD (CCC:BTC-USD) crossed the $5,000 threshold before the open Tuesday, hitting its highest value since November’s major selloff. It had been a bearish few months for the cryptocurrency darling, but the transition to a bull market is well underway. In order for the trend to solidify, the coin needs to rise above its 21-month exponential moving average of $5,200, according to CoinDesk.
The cryptocurrency's value grew 16% to $4,830.58.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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