DIRS.INFO The most relevant business & tech news

☆ Spirit Airlines furloughs 260 pilots to save money
▼ + stars: | 2024-04-08 | by ( ) edition.cnn.com time to read: +2 min

CNN —Spirit Airlines said on Monday it has reached a deal with Airbus to delay all aircraft deliveries scheduled from the second quarter of 2025 through 2026 and intends to furlough about 260 pilots, as the company looks to save cash. As a result of the deferrals, along with quality issues with engines made by supplier Pratt & Whitney, Spirit is furloughing pilots effective Sept. 1. “[The] aircraft deferrals and pilot furloughs look positive, in terms of helping the carrier to reduce [or] defer some costs. Spirit, which has been losing money for several quarters despite strong travel demand, operates an all-Airbus fleet. Spirit now expects to end 2025 with a total of 219 jets in its fleet, with no additions of the A320neo aircraft.

Persons: Stephen Trent, ”, Ryan Muller, Muller Organizations: CNN — Spirit Airlines, Airbus, Pratt, Whitney, Pratt & Whitney, Citi Research, Air Line Pilots Association

Investors can still find discounts even as stocks climb to fresh all-time highs . Both the S & P 500 and the Dow Jones Industrial Average reach new records on Friday, surpassing previous highs notched just a day earlier. The stock has about 12% over the past month and nearly 11% from the start of the year. American Airlines stock currently trades at a forward price-to-earnings (P/E) multiple of 5.8 overall, slightly lower than the industry average. AAL YTD mountain American Airlines stock.

Persons: Stephen Trent Organizations: Dow Jones, Nvidia, CNBC, Airlines, American Airlines, FactSet, Citi, Exxon Mobil, Wall, Exxon, Resources, General Motors, CVS Health

☆ Stocks making the biggest moves premarket: Dollar Tree, American Airlines, ZoomInfo Technologies and more
▼ + stars: | 2024-01-29 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

American Airlines — The airline stock added 1.5% following an upgrade to buy from neutral at Citi. "North America's network carriers' diversified revenue streams and solid demand for premium cabin offerings appear to provide them with superior positioning in this post-pandemic environment," wrote analyst Stephen Trent. Builders FirstSource — The building materials manufacturer edged 2% higher following an upgrade to buy from neutral at Bank of America. ZoomInfo Technologies — The software stock popped 5.5% after Bank of America analyst Koji Ikeda upgraded it to buy from neutral. "We believe it is a classic self-help story that is set to outperform," the analyst wrote, underscoring the company's revenue growth reacceleration and new AI products as potential catalysts.

Persons: Stephen Trent, Flywire, Morgan Stanley, Omar Nokta, Hershey, Wells, Steven Cahall, —, Cowen, Rafe Jadrosich, Julien Dumoulin, Smith, FactSet, Koji Ikeda, McGrath RentCorp — McGrath RentCorp, CNBC's Michelle Fox, Alexander Harring, Sarah Min, Jesse Pound Organizations: JPMorgan, American Airlines —, Citi, Zim Integrated Shipping Services —, Jefferies, Warner Bros, Bank of America, Bloom Energy, Koninklijke Philips —, Food and Drug Administration, Technologies, WillScot Mobile Locations: Albemarle, Netherlands

Some of the biggest analyst calls on Monday focused on a dollar store stock and a major U.S. airline. She assigned a $235 price target, which suggests shares could climb about 23.5%. The analyst maintained his buy rating and raised his price target by $30 to $455, which implies 15.4% potential upside from Friday's close. His $175 price target — down from $185 — implies 25.3% downside for the stock from Friday's close. The bank upgraded the airline to buy from neutral, raising its price target to $20 from $14.

Persons: Bernstein, Hershey, Alexia Howard, Howard, —, — Pia Singh, Jefferies, Brent Thill, Morgan Stanley, Norfolk, Ravi Shanker, Shanker, Raymond James Raymond James, Olivia Tong, Tong, Matthew Boss, Said, ̇, Boss, Stephen Trent, Fred Imbert Organizations: CNBC, JPMorgan, Citi, American Airlines, Hershey, Meta, Norfolk, Colgate, Palmolive, CL, American Airlines American Airlines Locations: U.S, Norfolk Southern

☆ We're more constructive on large airline stocks compared to others, says Citi's Stephen Trent
▼ + stars: | 2024-01-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're more constructive on large airline stocks compared to others, says Citi's Stephen TrentStephen Trent, Airline Analyst at Citigroup, discusses United Airlines' earnings and the overall sector's recent turbulence.

Persons: Citi's Stephen Trent Stephen Trent Organizations: Citigroup, United Airlines

Thursday's analyst calls featured an upgrade to a car rental stock and a big downgrade to an airline. The bank also hiked his price target on the tech giant to $225 per share, implying upside of 23%. — Pia Singh 5:36 a.m.: Citi downgrades Spirit Airlines to sell Citi is throwing in the towel on Spirit Airlines . Week to date, Spirit shares are down nearly 60%. Spirit shares were down more than 4% in the premarket.

Persons: Morgan Stanley, Hertz, Andrew Percoco, Percoco, — Pia Singh, Wamsi Mohan, Fred Imbert, Kirk Materne, Materne, Dan Dolev, Dolev, he's, CFRA, Kenneth Leon, Berkshire Hathaway, Leon, Ranjan Sharma, Sharma, bode, Adam Jonas, Jonas, Morgan, Stephen Trent, Trent Organizations: CNBC, flipside, Citi, Spirit Airlines, JetBlue, Bank of America, Apple Bank of America, Apple, Microsoft, ISI, Activision, Activision Blizzard, Mizuho, Fidelity National Information Services, Paramount Global, RedBird Capital, Warner Bros ., Comcast, Paramount's, Showtime, Paramount, JPMorgan, Grab Holdings, Hertz Global Holdings, Jan, Citi downgrades Spirit Airlines, Spirit, Airlines Locations: Berkshire, 1H24, Wednesday's

☆ Delta's quarterly profit tops estimates on booming international travel
▼ + stars: | 2023-10-12 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +3 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsCHICAGO, Oct 12 (Reuters) - Delta Air Lines (DAL.N) on Thursday reported stronger-than-expected quarterly profit on strong international travel, but trimmed its full-year outlook due to higher fuel costs. In an interview, he said the demand for Delta's products remain "high" as its customers are in "a very healthy condition." Delta now expects adjusted earnings of $6 to $6.25 per share this year, compared with $6 to $7 per share estimated in July. In the December quarter, the airline expects adjusted earnings in the range of $1.05 to $1.30 per share. Ultra-low-cost carrier Spirit Airlines (SAVE.N) last month cut its profit outlook for the third quarter, citing "heightened promotional activity with steep discounting."

Persons: John F, Andrew Kelly, Ed Bastian, Delta, Stephen Trent, Hopper, airfare, Bastian, Rajesh Kumar Singh, Mehr Bedi, Jamie Freed, Arun Koyyur, Nick Zieminski Organizations: Delta Air Lines, Kennedy International Airport, REUTERS, Rights, Delta, U.S, Wall Street, Citi Research, Spirit Airlines, Frontier Airlines, Thomson Locations: Queens , New York City, U.S

☆ Performance of international long haul flights is beating domestic, says Citi's Stephen Trent
▼ + stars: | 2023-10-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPerformance of international long haul flights is beating domestic, says Citi's Stephen TrentStephen Trent, Citigroup airline analyst and managing director, joins 'The Exchange' to discuss bifurcation in the airline sector's performance, consumer preference for international long-haul flights over domestic, and hybrid work policies shifting airline ticker purchasing trends.

Persons: Citi's Stephen Trent Stephen Trent Organizations: Citigroup

☆ Demand trends for airlines in domestic and international markets have bifurcated, says Citi's Trent
▼ + stars: | 2023-09-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDemand trends for airlines in domestic and international markets have bifurcated, says Citi's TrentStephen Trent, Citigroup airline analyst, joins 'Squawk Box' to discuss the demand side of the equation for airlines, how consumers can afford to pay more for an airline seat, and Trent's favorite stocks in the space.

Persons: Citi's Trent Stephen Trent Organizations: Citigroup

☆ U.S. airlines flag high fuel costs, Southwest's August bookings disappoint
▼ + stars: | 2023-09-06 | by ( Mehr Bedi | ) www.reuters.com time to read: +2 min

[1/2] A Southwest Airlines aircraft flies past the U.S. Capitol before landing at Reagan National Airport in Arlington, Virginia, U.S., January 24, 2022. REUTERS/Joshua Roberts/File Photo Acquire Licensing RightsSept 6 (Reuters) - Southwest Airlines (LUV.N) on Wednesday flagged softer August leisure bookings and joined two other U.S. airlines in warning of higher fuel costs in the third quarter due to a jump in crude prices. United Airlines (UAL.O) and Alaska Air Group (ALK.N) also warned of higher fuel costs in the current quarter as crude oil prices rose for a third straight month in August, amid signs of tightening supply. In a regulatory filing, United said jet fuel prices have climbed over 20% since mid-July. U.S. airlines do not generally hedge against fuel costs, making them vulnerable to price swings.

Persons: Joshua Roberts, Gerald Laderman, Stephen Trent, Mehr Bedi, Abhijith, Aishwarya Jain, Pooja Desai Organizations: Southwest Airlines, U.S, Capitol, Reagan National Airport, REUTERS, United Airlines, Alaska Air Group, United, Cowen Transportation Conference, Alaska Air, Citi Research, Thomson Locations: Arlington , Virginia, U.S, Denver, Chicago, Southwest, Bengaluru

☆ Airlines shares hit turbulence on Alaska's dour forecast, RTX engine problem
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +2 min

[1/2] An Alaska Airlines Boeing 737-900ER airplane prepares to land at Vancouver's international airport in Richmond, British Columbia, Canada, February 5, 2019. REUTERS/Ben Nelms/File PhotoJuly 25 (Reuters) - U.S. airlines stocks tumbled on Tuesday as investors were spooked by downbeat forecasts from Alaska Air Group (ALK.N) and a warning on jet engines by aerospace giant RTX (RTX.N). Alaska's shares plunged 11.2% in morning trade, dragging United Airlines (UAL.O), American Airlines (AAL.O), Southwest Airlines (LUV.N) and Delta Air (DAL.N) down between 2.5% and 5%. Jetblue's shares fell about 5%, while those of ultra-low-cost carrier Spirit Airlines declined about 3%. Paris-listed shares of Airbus (AIR.PA) fell 2%.

Persons: Ben Nelms, Stephen Trent, Whitney, Art Hogan, You've, Shivansh, Johann M Cherian, Tim Hepher Organizations: Alaska Airlines Boeing, REUTERS, Alaska Air Group, Investors, Citi, United Airlines, American Airlines, Southwest Airlines, Delta Air, Raytheon, Pratt, Airbus, Riley Wealth, Spirit Airlines, Jetblue Airways, Thomson Locations: Richmond , British Columbia, Canada, Alaska, Boston, Paris, Bengaluru

☆ American Airlines earnings outlook disappoints, shares fall
▼ + stars: | 2023-07-20 | by ( Shivansh Tiwary | ) www.reuters.com time to read: +1 min

July 20 (Reuters) - Shares of American Airlines (AAL.O) fell on Thursday as its outlook for the second half of the year disappointed investors even as the company lifted its full-year profit forecast and posted higher-than-expected quarterly earnings. American forecast adjusted profit of $3.00 to $3.75 per share for 2023 compared with its prior outlook of $2.50 to $3.50 per share. But some analysts said the outlook suggested a slowdown in the company's earnings in the second half compared with the first six months of the year. American's revenue forecast also suggested airline ticket prices for domestic travel have peaked, fueling worries about the company's ability to offset cost pressure. Adjusted earnings for the second quarter came in at $1.92 per share, above analysts' consensus earnings estimate of $1.59, according to a Refinitiv survey.

Persons: Stephen Trent, American's, Robert Isom, Shivansh, Arun Koyyur, Stephen Coates Organizations: American Airlines, Citi, United Airlines, Thomson Locations: Bengaluru

☆ International long-haul and transpacific are expected to be hot markets for airlines, says Citi
▼ + stars: | 2023-07-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInternational long-haul and transpacific are expected to be hot markets for airlines, says CitiStephen Trent, managing director at Citi, discusses areas where travel numbers are "spooling up to pre-pandemic levels."

Persons: Citi Stephen Trent Organizations: Citi

☆ Delta lifts profit view on strong travel demand, lower fuel costs
▼ + stars: | 2023-06-27 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +2 min

CHICAGO, June 27 (Reuters) - Delta Air Lines (DAL.N) said on Tuesday it expects full-year profit per share at the high-end of its prior forecast on sustained travel demand. Shares rose about 1% in premarket trading as the Atlanta-based carrier also lifted its expectation for annual free cash flow ahead of its investor day. But with no let-up in travel demand, mainly for overseas trips and a moderation in fuel costs, analysts have revised upwards Delta's profit estimates. In a sign of growing confidence in its ability to generate free cash flow, Delta this month reinstated its quarterly dividend, which it had suspended in March 2020 during the pandemic. The company raised its free cash flow outlook for 2023 to $3 billion compared to more than $2 billion that it had forecast earlier.

Persons: Daniel McKenzie, Stephen Trent, Rajesh Kumar Singh, Shivansh, Jamie Freed, Arun Koyyur Organizations: Delta Air Lines, Delta, Seaport Research Partners, Citi, Thomson Locations: Atlanta, U.S, North America

☆ US airlines thrown a curveball as consumer habits change post-pandemic
▼ + stars: | 2023-05-10 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +5 min

Even as the thirst for travel remains strong, the changing trends are driving up airlines' operating costs and hurting revenue. Travel demand has also softened on days in the middle of the week, but has strengthened on peak days. Frontier Airlines (ULCC.O) decided to slash flights on Tuesdays and Wednesdays by about 20%, citing weak demand. Delta Airlines (DAL.N) reported that bookings for trips inside 30 days were declining, while those outside 30 days were stronger. Last year, it denied boarding to more customers than American Airlines (AAL.O) and United, U.S. Transportation Department data shows.

☆ FT: First Republic's ongoing issues are an increasing concern for other banks
▼ + stars: | 2023-04-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFT: First Republic's ongoing issues are an increasing concern for other banksStephen Trent of the Financial Times discusses the latest with First Republic.

☆ Delta Air Lines' profit miss on higher fuel costs clouds strong forecast
▼ + stars: | 2023-04-13 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +3 min

CHICAGO, April 13 (Reuters) - Delta Air Lines (DAL.N) on Thursday forecast higher-than-expected profit for the current quarter, citing "record" bookings for summer travel, even as the carrier missed first-quarter profit estimates due to higher fuel and labor costs. Rivals American Airlines and United Airlines were down about 1%. American Airlines (AAL.O) on Wednesday forecast first-quarter profit below market expectations, joining rival United Airlines (UAL.O) in signaling a hit from higher costs. U.S. carriers have tried to leverage travel demand with higher ticket prices to offset rising labor and fuel bills. For the June quarter, Delta expects its revenue to rise 15% to 17% from a year earlier on capacity growth of 17%.

☆ Transatlantic flights see revenue growth despite cost headwinds, says Citigroup's Stephen Trent
▼ + stars: | 2023-04-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTransatlantic flights see revenue growth despite cost headwinds, says Citigroup's Stephen TrentStephen Trent, Citigroup airline analyst and managing director, joins 'Closing Bell Overtime' to discuss airlines rising oil prices hurting airline stocks, economic downturns impacting airline sales, and two names in the airline business to look out for.

Search resuls for: "Stephen Trent"

18 mentions found