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Stock Market & Financial Investment News

News Breaks
February 26, 2014
08:02 EDTDALDelta Air Lines changing its frequent flier rules, WSJ reports
Beginning next year, Delta Air Lines is switching its SkyMiles program frequent flier plan so passengers earn miles based on the purchased ticket prices and not the distances flown, reports the Wall Street Journal. That approach is similar to loyalty programs offered by smaller U.S. carriers.Reference Link
News For DAL From The Last 14 Days
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July 2, 2015
11:07 EDTDALDelta Air Lines guidance a non-event, says JPMorgan
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09:03 EDTDALDelta Air Lines reports June PRASM down 4.5%
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July 1, 2015
16:28 EDTDALOn The Fly: Top stock stories for Wednesday
Stocks on Wall Street opened higher amid hopes for a resolution to the Greek debt crisis. The market also received help from positive reports from the ISM on manufacturing and ADP on the labor market. The averages saw their highs shortly after the open and then gradually drifted off those highs, while moving in a fairly narrow range. Investors will now be looking to the release of tomorrow’s nonfarm payrolls report, which will be out a day earlier than normal due to the Independence Day holiday. ECONOMIC EVENTS: In the U.S., ADP reported the private sector added 237,000 jobs in June, versus expectations for 218,000 job additions. Markit's manufacturing purchasing managers' index for June came in at 53.6, narrowly above the 53.4 forecast. ISM's manufacturing index rose to 53.5 in June, topping May's 52.8 reading and the 53.2 consensus forecast. Construction spending rose 0.8% in May, versus the expected growth of 0.5%. In China, manufacturing PMIs came in short of expectations. The HSBC/Markit PMI slipped to a final 49.4 in June from the flash reading of 49.6, while the government's official manufacturing PMI fell to 50.1 in June from 50.9 in May. In Europe, Greece officially missed its $1.7B payment to the International Monetary Fund last night. Reports then indicated that Greece's government was willing to make concessions that get it much closer to creditor demands. The new proposal for budget cuts and policy overhauls from Prime Minister Alexis Tsipras was dismissed by European officials, however, and Eurogroup president Jeroen Dijsselbloem said that he sees no need for further talks on Greece at this point and that he awaits the result of this Sunday's scheduled referendum. COMPANY NEWS: In a blockbuster deal in the insurance industry, ACE Limited (ACE) agreed to acquire Chubb (CB) in a cash and stock transaction valued in excess of $28B that will create the number one global Property and Casualty insurance company by P&C underwriting income and the number two U.S. public P&C insurer by market cap. ACE shares advanced 77c, or 0.76%, to $102.45 following the deal announcement, while Chubb surged $25.63, or 26.94%, to $120.77... U.S. airline stocks dropped after the Associated Press reported that the Justice Department is investigating potential "unlawful coordination" between companies attempting to artificially limit growth to keep fares high. Shares of American Airlines (AAL), Delta Air Lines (DAL), Southwest (LUV), United Continental (UAL) and JetBlue (JBLU) all closed lower by between 1.4% to 3.4% following the report. MAJOR MOVERS: Among the notable gainers was Schnitzer Steel (SCHN), which advanced 13.45% to $19.82 after BofA Merrill Lynch upgraded the shares two notches to Buy from Underperform and raised its price target to $21, saying scrap pricing should be nearing a trough with stability expected ahead. Also higher were shares of Dycom (DY), which gained 7.87% to $63.48 following a fourth quarter guidance hike, an announcement of a $40M repurchase plan and an upgrade to Buy at DA Davidson. Among the noteworthy losers was Baxter (BAX), which fell 44.43% to $38.86 after its spin-off of Baxalta (BXLT), whose shares fell 1.38% to $31.50. Baxter was downgraded to Neutral from Outperform at Credit Suisse after the research firm updated its valuation of Baxter to reflect the split. Also lower was Graham Holdings (GHC), which fell 35.48% to $693.63 after the company completed its spin-off of Cable ONE (CABO), whose shares lost 6.23% to $399. Additionally, shares of General Motors (GM) fell 0.87% to $33.04 after the company halted production at its Russian plant and reported June U.S. sales dropped 3%. INDEXES: The Dow rose 138.40, or 0.79%, to 17,757.91, the Nasdaq gained 26.26, or 0.53%, to 5,013.12, and the S&P 500 advanced 14.31, or 0.69%, to 2,077.42.
14:48 EDTDALDelta options active after Justice Department said to probe possible collusion
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14:28 EDTDALAirlines fall after Justice Department said to probe possible collusion
Major U.S. airline stocks are dropping precipitously in intraday trading following a report of a Justice Department investigation into potential "unlawful coordination" between companies attempting to artificially limit growth to keep fares high. WHAT'S NEW: The Associated Press has obtained a document showing that the U.S. Justice Department is investigating whether major airlines might be colluding to slow their growth in order to maintain high airfares. A spokesperson for the Department confirmed that it is probing airlines over possible "unlawful coordination," though she did not name specific companies in the sector. WHAT'S NOTABLE: Today's report of possible collusion within the industry follows a period of volatility among airline stocks in late May and early June on concerns over undisciplined capacity growth and price competition. Following some recovery in the stocks, a Barron's cover story on June 20 predicated a potential 15%-50% upside in airlines and specifically cited high fares. PRICE ACTION: Shares of American Airlines (AAL), Delta Air Lines (DAL), Southwest (LUV), United Continental (UAL) and JetBlue (JBLU) are all down over 4.5% in afternoon trading and continue to drop.
13:57 EDTDALDOJ investigating whether airlines colluding on fares, AP reports
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11:37 EDTDALStocks with call strike movement; TSLA DAL
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June 25, 2015
07:00 EDTDALDelta granted temporary space at Dallas airport by Southwest, Reuters reports
While Southwest Airlines (LUV) and Delta Air Lines (DAL) await a resolution of their dispute in court, Southwest is allowing Delta to continue operating five daily flights between Dallas Love Field Airport and Atlanta, reported Reuters, citing a Delta spokeswoman. A gate-sharing pact between the two is set to expire on July 6, the report noted. Reference Link
June 24, 2015
08:05 EDTDALDelta Air Lines signs sponsorship deal with the U.K.'s Chelsea Football Club
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June 23, 2015
09:36 EDTDALActive equity options trading on open
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07:56 EDTDALDetroit Economic Club to hold a meeting
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07:11 EDTDALDelta Air Lines coverage assumed with an Overweight at Morgan Stanley
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June 22, 2015
09:42 EDTDALDelta Air Lines $2 fare increase failed, says JPMorgan
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07:19 EDTDALAirlines focusing on upgraded in-flight web services, WSJ reports
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June 21, 2015
13:03 EDTDALU.S. airline stocks may rise 15%-50% in one year, Barron's says
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June 19, 2015
16:59 EDTDALBuckeye, airlines agree to settle FERC disputes
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11:09 EDTDALDelta climbs following upgrade, reported fare hike
The shares of Delta Air Lines (DAL) are rising after research firm Wolfe Research upgraded the stock to Outperform from Peer Perform in a note to investors earlier today. Additionally, JPMorgan says Delta appears to have instituted a domestic fare increase yesterday. WHAT'S NEW: Delta's new deal with its pilots on profit sharing removes an unknown that had been facing the company, Wolfe wrote. Additionally, the airlines seems to be implementing additional domestic capacity cuts, the firm stated. As a result, Wolfe slightly increased its passenger revenue per available seat mile, or PRASM, estimate for the company. Furthermore, expectations for Delta's Q3 PRASM have dropped significantly, even though the airlines recently said that its PRASM should turn positive in Q4. Consensus estimates for Delta now look "reasonable" for this year and beatable in 2016, according to Wolfe, which set a $62 price target on the shares. WHAT'S NOTABLE: JPMorgan said Delta appears to have instituted an additional, $2 one-way across-the-board domestic fare increase yesterday, following last week's industry-wide increase. The firm sees "no harm" in Delta trying, but adds it would be surprised to see material support from the discounters. JPMorgan said it remains "puzzled" as to why airline industry stock sentiment is so negative since discipline among the companies is "alive and kicking." The firm has an Overweight rating on Delta. OTHERS TO WATCH: Other publicly traded airline operators include American Airlines (AAL), JetBlue (JBLU), Southwest (LUV) and United Continental (UAL). PRICE ACTIOn: In late morning trading, Delta rose 2.5% to $42.38.
10:00 EDTDALOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Aerie Pharmaceuticals (AERI) upgraded to Buy from Hold at Canaccord... Amedisys (AMED) upgraded to Buy from Hold at Jefferies... Consolidated Edison (ED) upgraded to Hold from Sell at Evercore ISI... Delta Air Lines (DAL) upgraded to Outperform from Peer Perform at Wolfe Research... Deutsche Bank (DB) upgraded to Neutral from Underperform at Exane BNP Paribas... EP Energy (EPE) upgraded on better than expected well economics at SunTrust... Encana (ECA) upgraded to Outperform from Market Perform at BMO Capital... Energy Transfer Partners (ETP) upgraded to Buy at BofA/Merrill... Erickson (EAC) upgraded to Outperform from In-Line at Imperial Capital... Fiserv (FISV) upgraded on growth opportunities, margin outlook at Oppenheimer... IPC Healthcare (IPCM) upgraded to Buy from Hold at Jefferies... Mack-Cali Realty (CLI) upgraded on valuation at Stifel... Micron (MU) upgraded to Buy on sustainable margins and capex at Topeka... NuStar Energy (NS) upgraded to Buy from Neutral at BofA/Merrill... NuStar GP Holdings (NSH) upgraded to Buy from Neutral at BofA/Merrill... Ramco-Gershenson (RPT) upgraded to Outperform from Neutral at Baird... Retail Opportunity (ROIC) upgraded to Outperform from Market Perform at Raymond James... Royal Dutch Shell (RDS.A) upgraded to Outperform from Sector Perform at RBC Capital... Smith & Wesson (SWHC) upgraded to Outperform from Sector Perform at RBC Capital... Sovran Self Storage (SSS) upgraded to Buy from Hold at Cantor... Springleaf (LEAF) upgraded to Outperform from Neutral at Macquarie.
09:08 EDTDALDelta Air Lines upgraded to Outperform from Peer Perform at Wolfe Research
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07:43 EDTDALDelta instituted $2 domestic fare increase yesterday, says JPMorgan
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