Delta Air Lines (NYSE:DAL) reported a wider first quarter loss today, of $318 million, or $0.38 per share, compared to $256 million, or $0.31 per share, in the same quarter last year. The loss was still narrower than analysts expected. Revenue was better than expected, as well, rising 13%, to $7.7 billion.
Delta shares are trading up over 7.3% Tuesday.
The Guggenheim Airline ETF (FAA), in which it is a top holding, is trading up over 2.2%.
Also today, Lockheed Martin (NYSE:LMT) said first quarter earnings dipped to $530 million, or $1.50 per share, from $533 million, or $1.41 per share, last year. Earnings from continuing operations of $1.55 per share beat analyst estimates. Revenue rose about 3%, to $10.6 billion. Lockheed hiked its full-year forecast to earnings of $6.95 to $7.25 per share, $0.25 higher on each end.
Shares are trading up nearly 1.4% Tuesday.
Lockheed Martin is the fifth-largest holding in the iShares Dow Jones U.S. Aerospace & Defense Index Fund (AMEX:ITA), trading up almost 1.2% today, behind rival stocks including United Technologies (NYSE:UTX) and Boeing (NYSE:BA).
And, United Parcel Service (NYSE:UPS) reported a surge in first-quarter earnings, to $885 million, or $0.88 per share, from $533 million, or $0.53 per share, last year. Earnings beat forecasts, although a 7% increase in revenue, to $12.58 billion, fell short of analyst estimates. UPS hiked its full-year forecast to earnings per share of $4.15 to $4.40 per share, well ahead of analyst estimates at the high end.
UPS shares are trading up over .9% Tuesday.
UPS is the fourth-largest holding in the iShares Dow Jones Transportation Average Index Fund (AMEX:IYT), trading up over 1% Tuesday. Union Pacific (NYSE:UNP), rival FedEx (NYSE:FDX) and C.H. Robinson (NASDAQ:CHRW) are ahead of UPS in the holdings.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.