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Investors are turning their attention to inflation data in the week ahead, following this week's hot jobs data, to further clarify the path of future monetary policy. Market participants are hoping next week's release of the June consumer price index on Wednesday, as well as last month's producer price index on Thursday, will show a downward trajectory in inflation after this week's strong ADP data spurred investor fears of further rate hikes ahead. Broadly speaking, investors are pricing in another quarter point rate hike at the July meeting. Of note, stocks tumbled Thursday after hotter-than-expected ADP data suggested the Federal Reserve has further to go in its tightening campaign. FactSet data shows analysts expect S & P 500 earnings fell 7% in the second quarter against the same quarter a year ago.
Persons: James Ragan, Davidson, Hogan, Rhys Williams, Williams, you've, Davidson's Ragan, Citigroup startegists, Wells, UnitedHealth, Michael Barr Organizations: Traders, Federal Reserve, Riley, Dow Jones Industrial, Treasury, Asset Management, JPMorgan, Citigroup, JPMorgan Chase, BlackRock, Dow, PepsiCo, Delta Air, Conagra, Delta Air Lines, Fastenal Locations: Wells Fargo, Cintas, UnitedHealth
WASHINGTON, July 6 (Reuters) - A U.S. government watchdog will review Federal Aviation Administration (FAA) efforts to prevent airport runway incursions after a series of incidents where airplanes came dangerously close to each other. The U.S. Transportation Department Office of Inspector General (OIG) said it was opening its audit to assess FAA processes for analyzing data, identifying risks and preventing and mitigating runway incursions. The National Transportation Safety Board (NTSB) is investigating six runway incursion events since January including some near catastrophes. In March, the FAA said it was taking steps to improve air traffic control, convening a safety summit and issuing a safety alert. In April, it named an independent safety review team and in June announced $100 million for 12 airports to make improvements to taxiways and lighting to reduce runway incursions.
Persons: Jennifer Homendy, OIG, David Shepardson, David Gregorio Our Organizations: U.S, Federal Aviation Administration, FAA, U.S . Transportation Department, National Transportation Safety Board, OIG, FedEx, Southwest Airlines, Boeing, FedEx plane's, Delta Air Lines, American Airlines, Thomson Locations: Austin , Texas, Boston , Florida, New, JFK
Representative Blake D. Moore, Republican of Utah, is pushing for changes to federal law that would allow more nonstop flights between Ronald Reagan Washington National Airport and Salt Lake City. Those flights, he said, would increase tourism between Utah and the nation’s capital. They would also offer Mr. Moore a more efficient commute. “We need more direct flights out of DCA,” he said. In recent weeks, dozens of lawmakers have joined the push for 28 new round-trip flights per day at Reagan National.
Persons: Blake D, Moore, Ronald Reagan, Organizations: Republican, Ronald Reagan Washington National Airport, Capitol, Delta Air, Reagan National, Little League, Reagan Locations: Utah, Ronald Reagan Washington, Salt Lake City, Washington
Travelers are seen ahead of the fourth of July holiday weekend at Hartsfield-Jackson Atlanta International Airport on June 30, 2023, in Atlanta, Georgia. Flight disruptions piled up at airports around the country ahead of the July Fourth weekend, but airline investors have largely shrugged them off. More than 63,000 flights operated by U.S. airlines, or 30% of their schedules, were delayed between June 24 through July 2. But sky-high travel demand continues to keep airline stocks aloft, with several reaching multi-year highs. American Airlines and Delta Air Lines have recently raised their profit outlooks thanks to strong bookings.
Organizations: Hartsfield, Jackson Atlanta International Airport, U.S, Transportation Security Administration, American Airlines, Delta Air Lines, Airlines Locations: Atlanta , Georgia, New York
Americans are heading into the Fourth of July holiday with an economy that has been nothing short of resilient. Given this backdrop, CNBC Pro set out to find the stocks that can capitalize the most from a strong U.S. economy. Solar energy stock Sunrun also made the list. "The company is experiencing strong momentum across all its sales channels," he said in a note last month. Other stocks that made the cut include Frontier Communications , Marriott Vacations , Marathon Oil , Scotts Miracle-Gro and energy company PPL .
Persons: James West Organizations: Commerce Department, Delta Air Lines, AAA, Federal Reserve, Wall Street, CNBC Pro, U.S, Caesars Entertainment, Analysts, Financial, Frontier Communications, Marriott, Oil, Miracle, Gro, PPL Locations: U.S, Puerto Rico
June 30 (Reuters) - U.S. airline stocks on Friday were set to record their strongest monthly performance since 2021, helped by easing fuel prices and signs of robust travel demand during the summer season. The outlook for the rest of summer months is also bright. The S&P 1500 airlines (.SPCOMAIR) has jumped 21.3% so far in June, the highest since February 2021 and far ahead of the S&P 500's (.SPX) 5.2% rise. However, Raymond James analyst Savanthi Syth expects air travel demand to moderate in the second half, given the high level of uncertainty and limited visibility into the fall. Shares of United Airlines and Delta trade 5.2 and 7.0 times forward profit estimates, respectively, well below S&P 500's (.SPX) multiple at 19.1.
Persons: Russ Mould, Raymond James and, Raymond James, Savanthi Syth, Matthew Tuttle, Joby, Morgan, Medha Singh, Arun Koyyur Organizations: U.S, Airlines, America, Bell, Delta Air Lines, United Airlines, Raymond James and Bank of America, Delta, Tuttle Capital Management, Joby Aviation, Thomson Locations: United States, Bengaluru
A Delta Air Lines plane carrying 96 passengers made an emergency landing in North Carolina on Wednesday. A Delta Air Lines flight made an emergency landing in North Carolina on Wednesday after its front landing gears failed to deploy. The Boeing 717, which departed from Atlanta, was approaching Charlotte Douglas International Airport when it experienced an issue with its landing gears, WCNC Charlotte reported. A Delta Air Lines plane landed nose-first at Charlotte Douglas International Airport in Charlotte, NC on Wednesday, June 28, 2023 because of missing front landing gear. The cause of the landing gear failure is still under investigation, WCNC Charlotte reported.
Persons: Charlotte, WCNC Charlotte, WCNC, Jeff Siner, Chris Skotarczak, Skotarczak, I've, we've, Ed Bastian, Bastian Organizations: Delta Air Lines, Boeing, Charlotte Douglas International, Charlotte Observer, Tribune, Service, Getty, AP News, Twitter, Breaking Aviation, Air Lines Locations: North Carolina, Atlanta, Charlotte , NC
Deadline for airline retrofits could impact
  + stars: | 2023-06-29 | by ( Brian Fung | ) edition.cnn.com   time to read: +4 min
Multiple US air carriers told CNN Thursday that they will be able to meet the deadline. It added that all of its widebody aircraft will have the upgraded equipment by the deadline. The Regional Airline Association, meanwhile, said that most of its members’ planes were retrofitted ahead of a deadline last fall, and that they have plans to retrofit the remaining planes. That delay followed an even earlier postponement negotiated by the wireless carriers and the aviation industry, which had raised broad concerns that 5G signals might affect air travel. The deadline comes after a week of heavy flight disruptions linked to weather that are beginning to subside, with the exception of United.
Persons: Pete Buttigieg, ” Buttigieg, Buttigieg, CNN’s Gregory Wallace Organizations: New, New York CNN, Verizon, Transportation, Airlines for America, CNN, American Airlines, Southwest Airlines, United Airlines, Delta Air Lines, Delta, Regional Airline Association Locations: New York, Delta
Passengers aboard a Delta flight had to disembark using the jet slide Wednesday after their plane landed at Charlotte Douglas International Airport without part of its landing gear extended. An inflatable slide extends from a door of the plane and firefighters appear to be helping passengers disembark on the slide. "While this is a rare occurrence, Delta flight crews train extensively to safely manage through many scenarios and flight 1092 landed safely without reported injuries." Controllers saw that the nose landing gear doors were open, but the gear hadn't descended and the pilots landed the plane without the nose gear. Less than four hours after the landing, Skotarczak, the passenger from Buffalo, was at work, but only with his cellphone and a bottle of water.
Persons: I've, Chris Skotarczak, Charlotte, Skotarczak, Delta, Gregory A, Zahornacky Organizations: Charlotte Douglas International, Associated Press, Boeing, Air Lines, Federal Aviation Administration, National Transportation Safety, Embry, Riddle Aeronautical University, DC Locations: Buffalo , New York, Atlanta, Charlotte, Buffalo, Europe, U.S
Joby Aviation stock soared as much as 44% on Wednesday after the company received a permit to begin flight testing. The company launched its production line and expects to deliver the first ever eVTOL aircraft. Joby has received investments from Toyota and Delta Air Lines, among others. Joby received a Special Airworthiness Certificate for the first aircraft it built at its production line in Marina, California, according to a Wednesday press release from the company. Toyota president and CEO of Toyota Motor North America Tetsuo Ogawa will join Joby's board of directors, according to Joby.
Persons: Joby, , Tetsuo Ogawa Organizations: Joby Aviation, Toyota, Delta Air Lines, Service, Toyota Motors, Toyota Motor, Edwards Air Force Base, US Air Force Locations: Marina , California, Manhattan, JFK
Delta Air Lines could be in for big gains going forward, according to Morgan Stanley. The bank listed Delta as a top pick Wednesday, reiterating an overweight rating and a $70 per share price target. Analyst Ravi Shanker highlighted Delta's investor day on Tuesday, which underpinned the bank's bullish outlook on the stock. DAL YTD mountain Delta has added more than more than 40% from the start of the year. For the second quarter, Delta executives now expect year-over-year revenue to climb 17% to 18%, Shanker said.
Persons: Morgan Stanley, Morgan Stanley's, Ravi Shanker, financials, Shanker, — CNBC's Michael Bloom Organizations: Delta Air, Delta Locations: DAL, Delta
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
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDelta CEO forecasting highest 2Q earnings ever. Here's what the pros are sayingSheila Kahyaoglu of Jefferies, Josh Brown of Ritholtz Wealth Management, and Jenny Harrington of Gilman Hill Asset Management discuss Delta Air Lines after its CEO predicts the company could see its highest second-quarter earnings ever.
Persons: Sheila Kahyaoglu, Jefferies, Josh Brown, Jenny Harrington Organizations: Email Delta, Ritholtz Wealth Management, Management, Delta Air Lines
Market Movers rounded up the best reactions from investors and analysts on Delta Air Lines . The pros discussed the airline after CEO Ed Bastian told CNBC he is raising his profit forecast for the second quarter. Bastian is also predicting Delta's second-quarter earnings could be the highest ever for the company's April to June period due to strong demand and premium ticket purchases. Delta is forecasting adjusted earnings per share of $2.25 to $2.50, up from a previous range of $2 to $2.25 a share. Sheila Kahyaoglu of Jefferies said on CNBC on Tuesday her firm is raising the stock's price target to $50.
Persons: Ed Bastian, Bastian, Sheila Kahyaoglu, Jefferies Organizations: Delta Air Lines, CNBC, Delta
Delta Air Lines on Tuesday raised its second-quarter forecast and estimated full-year adjusted earnings of $6 a share, at the high end of estimates it gave last April as strong travel demand and trade-ups to more expensive fare classes continue to drive growth. Delta forecast adjusted earnings per share of $2.25 to $2.50 for the second quarter, up from a previous range of $2 to $2.25 a share. CEO Ed Bastian said that the company's second-quarter earnings, which it will report next month, could be its highest ever for the April-June period. In a presentation ahead of its investor day later Tuesday, the airline also raised its estimate for free cash generation this year to $3 billion from $2 billion. "The demand as you know, as anyone that's traveling knows, is off the chain," Delta CEO Ed Bastian said in an interview with CNBC's "Squawk Box."
Persons: Ed Bastian, that's, CNBC's Organizations: Delta Air Lines, Delta
It also reported adjusted earnings per share for its fiscal third quarter of $1, missing a Refinitiv forecast of $1.07. Kellogg — Shares added 2.5% in premarket trading after an upgrade from Goldman Sachs to buy. Delta Air Lines — The travel stock added about 1% in premarket trading after Delta forecast full-year adjusted earnings of $6 per share, at the high end of previous guidance. American Equity Investment Life — The stock jumped 15% in premarket trading after Bloomberg reported Canadian investment firm Brookfield was close to making a deal to buy the insurance firm for approximately $4.3 billion. The Wall Street firm said it expects deteriorating trends in key markets and higher competitive supply versus its peer group.
Persons: Kellogg —, Goldman Sachs, Kellogg, Taiwan's Foxconn, Eli Lilly —, Eli Lilly, retatrutide, Morgan Stanley, , Sarah Min, Brian Evans, Jesse Pound, Michael Bloom Organizations: Walgreens, Alliance, Lordstown Motors, Motors, U.S, Delta Air Lines, Delta, Equity Investment, Bloomberg, Resorts Locations: New York City, Brookfield
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDelta Air Lines CEO Ed Bastian: Second quarter will be the 'highest Q2 earnings in our history'Delta Air Lines CEO Ed Bastian joins 'Squawk Box' to discuss the airline raising its Q2 guidance, post-pandemic demand surge, and more.
Persons: Ed Bastian Organizations: Air, Delta Air
Walgreens also reported adjusted earnings per share for its fiscal third quarter of $1, missing a Refinitiv forecast of $1.07. Roblox — The gaming platform popped 5.8% after Bank of America reiterated its buy rating, saying the stock is a leader in the Metaverse category. Meta Platforms — The big technology stock added 2% after Citi reiterated its buy rating. Frontier Communications — Shares rose 4.1% on the back of Wolfe Research initiating coverage of the stock at outperform. Saia — The transportation stock rose 6.7% on the back of Evercore ISI upgrade to outperform from in line.
Persons: Steve Burns, Lordstown, Generac, Aaron Jadgfeld, Kellogg — Kellogg, Goldman Sachs, Oppenheimer, Wolfe, Wells, Wells Fargo, Saia, Northcoast, Cars.com, Jesse Pound, Michelle Fox Organizations: Lordstown Motors Corp, Lordstown Motors, Walgreens, Delta Air Lines, Equity Investment, Bloomberg News, Investment, Royal, Bank of America, Citi, Nike, Frontier Communications, Wolfe Research, Energy, JPMorgan, Unity Software, ISI Locations: Lordstown , Ohio, U.S, Brookfield, Royal Caribbean, Texas
Pete Buttigieg warned of "a real risk of delays or cancellations" as a 5G deadline approaches, per the WSJ. Hundreds of planes won't be fitted with updated equipment in time, so they could be banned from landing in low-visibility. Therefore any planes which haven't yet been fitted with the updated equipment won't be cleared to land in weather which produces low visibility, from July 1. The updated equipment is being installed at the expense of airlines, and estimates say it will cost more than $638 million in total, IATA said in its annual review. "While we expect minimal operational impact, we continue to work with our supplier to see that every Delta aircraft is equipped with updated radio altimeters."
Persons: Pete Buttigieg, Buttigieg, Biden Organizations: WSJ . Telecom, Street, Airlines, International Air Transport Association, Reuters, Delta Air Lines, Airbus, Delta, JetBlue
ET, the FAA issued ground stops for Baltimore/Washington International Thurgood Marshall Airport, Ronald Reagan Washington National Airport and Dulles International Airport, preventing aircraft from taking off for those destinations. "Departures to D.C.-area airports have resumed and repairs to the communications power panel are complete," the FAA said in a statement. More than 440 flights to and from Newark Liberty International Airport were delayed. The airport is a major hub of United Airlines , which had more than 840 delayed flights Sunday, according to FlightAware. American Airlines posted 938 delayed flights, 27% of its mainline schedule, Delta Air Lines had 716, or 20% of its schedule, and New York-based JetBlue Airways had 472 delays, or 45% of its planned schedule.
Persons: Ronald Reagan Organizations: Boeing, Ronald Reagan Washington National Airport, Federal Aviation Administration, Washington D.C, FAA, Baltimore, Washington International Thurgood Marshall Airport, Dulles International, Washington Dulles, Newark Liberty International Airport, United Airlines, American Airlines, Delta Air Lines, JetBlue Airways Locations: Ronald Reagan Washington, Arlington , Virginia, Canada, U.S, Washington, Miami, Boston, Detroit, United, New York
CNN —Authorities are investigating the death of a ground worker at San Antonio International Airport who was “ingested into” a plane’s engine Friday. “On Friday, June 23, Delta Flight 1111 had arrived at San Antonio International Airport from Los Angeles and was taxiing to the gate on one engine when a worker was ingested into that engine at about 10:25 p.m.,” the National Transportation Safety Board said in a statement to CNN Sunday evening. An airport spokesperson said San Antonio International is working with authorities on their investigation. “An accident occurred on the ground at San Antonio International Airport (SAT) Friday night that resulted in the fatality of an airline ground crew member,” spokesperson Erin Rodriguez said in a statement. “We are heartbroken and grieving the loss of an aviation family member’s life in San Antonio.
Persons: , Erin Rodriguez, Organizations: CNN — Authorities, San Antonio International, Delta, San Antonio International Airport, National Transportation Safety, CNN, San Antonio, Delta Air Lines Locations: Los Angeles, San Antonio
Los Angeles, CA - March 29: Delta Air Lines unveils a new $1.9-billion Terminal 3 at Los Angeles International Airport on Tuesday, March 29, 2022 in Los Angeles, CA. An airport employee died on Friday night in what appears to be a freak accident at the San Antonio International Airport, authorities said. The worker, who was not identified, was "ingested" into an airplane engine at 10:25 p.m. Friday night, the National Transportation Safety Board said in a statement. A Delta Air Lines flight arriving from Los Angeles was taxiing to the gate on one engine. The San Antonio International Airport also confirmed an employee's death on Friday in a statement, according to NBC affiliate WOAI.
Persons: Delta Organizations: Delta Air Lines, Los Angeles International Airport, San Antonio International Airport, National Transportation Safety, NTSB, Federal Aviation Administration, San Antonio International, NBC Locations: Los Angeles , CA, Los Angeles
An airline worker was sucked into the engine of a Delta plane at San Antonio International Airport in Texas. A ground crew worker at San Antonio International Airport, Texas, was killed after being sucked into an engine on the tarmac. The board confirmed that the ground crew employee died after being "ingested" into the engine of the Airbus A319, the outlet reported. "An accident occurred on the ground at San Antonio International Airport (SAT) tonight that resulted in the fatality of an airline ground crew member," the airport said in a statement, per DailyMail.com. Airline worker Courtney Edwards, a mother of three, was similarly "ingested" into the engine of a plane in Alabama earlier this year.
Persons: Unifi, Courtney Edwards Organizations: San Antonio International Airport, Authorities, Morning, San Antonio International Airport ,, Delta, National Transportation Safety Board, Airbus, NTSB, Delta Air Lines, Aviation Locations: Texas, San Antonio International Airport , Texas, Los Angeles, Alabama
WASHINGTON, June 23 (Reuters) - Critical U.S. air traffic control (ATC) facilities face staffing challenges and the Federal Aviation Administration "lacks a plan to address them," a government audit released on Friday found. The Transportation Department Office of Inspector General said the staffing issues pose risks to the continuity of air traffic operations. The report said the FAA has made limited efforts to ensure adequate controller staffing at the busiest air traffic control facilities, adding that 77% of critical ATC facilities are staffed below the FAA's 85% threshold. The center in busy Florida has had 300 staffing triggers - events when workforce issues require reducing air traffic, the report said. The Transportation Department in May sought $117 million to hire 1,800 air traffic controllers next year, in addition to 1,500 being hired this year.
Persons: General, York TRACON, David Shepardson, Chizu Nomiyama, Matthew Lewis Organizations: Federal Aviation Administration, Transportation Department, FAA, National, Jacksonville, The Transportation Department, Delta Air Lines, United Airlines, Washington National, New, ., Thomson Locations: U.S, Florida, New York JFK, LaGuardia, Newark, New York, York, Miami, Washington
Last year, Verizon VZ.N and AT&T T.N voluntarily agreed to delay some C-Band 5G usage until July as air carriers worked to retrofit airplane altimeters. Delta Air Lines (DAL.N) said Friday its supplier told the airline it would not have enough radio altimeters for Delta’s entire fleet by July 1. Approximately 190 Delta narrowbody aircraft are not yet equipped with updated radio altimeters including all A220s, most A319s and A320s, and some A321s. All Delta widebody aircraft will be equipped with updated radio altimeters prior to July 1, the airline said. Reuters first reported in March that major U.S. wireless carriers agreed to some voluntary actions to address aviation safety concerns.
Persons: Robert Bryan, Read, Pete Buttigieg, Buttigieg, T.N, David Shepardson, Chizu Organizations: Eagle Aviation, Columbia Metro, . Transportation, Airlines for, Verizon, Carriers, Air Lines, Delta, Reuters, Mobile, Federal Aviation Administration, FAA, Thomson Locations: West Columbia, South Carolina, U.S, WASHINGTON, Airlines for America
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