NewsFeeder
04-02-2019, 08:20 AM
Delta's stock surges after AmEx credit card pact extended, March performance metrics
Shares of Delta Air Lines Inc. surged 4.6% toward a 3 1/2-month high in premarket trade Tuesday, after the air carrier announced an 11-year renewal of its credit card pact with American Express Co. . Delta said the benefit from the extension of the companies' Delta SkyMiles credit cards is expected to double to nearly $7 billion a year by 2023, up from $3.4 billion in 2018. American Express affirmed its 2019 revenue growth guidance of 8% to 10% and adjusted EPS outlook of $7.85 to $8.35. AmEx shares fell 1.7% ahead of the open. Separately, Delta said March load factor slipped to 86.7% from 86.9% a yaer ago, as 5.4% growth in capacity outpaced the 5.3% rise in traffic. Year to date, load factor eased to 82.7% from 82.9%; the FactSet consensus for first-quarter load factor was 82.8%. Delta's stock has gained 4.6% year to date through Monday, while the NYSE Arca Airline Index has advanced 9.0% and the S&P 500 has climbed 14.4%.
https://finance.yahoo.com/m/15fb3d47-6609-377a-9dce-fd89fce6e81b/delta%26apos%3Bs-stock-surges.html?.tsrc=rss
Shares of Delta Air Lines Inc. surged 4.6% toward a 3 1/2-month high in premarket trade Tuesday, after the air carrier announced an 11-year renewal of its credit card pact with American Express Co. . Delta said the benefit from the extension of the companies' Delta SkyMiles credit cards is expected to double to nearly $7 billion a year by 2023, up from $3.4 billion in 2018. American Express affirmed its 2019 revenue growth guidance of 8% to 10% and adjusted EPS outlook of $7.85 to $8.35. AmEx shares fell 1.7% ahead of the open. Separately, Delta said March load factor slipped to 86.7% from 86.9% a yaer ago, as 5.4% growth in capacity outpaced the 5.3% rise in traffic. Year to date, load factor eased to 82.7% from 82.9%; the FactSet consensus for first-quarter load factor was 82.8%. Delta's stock has gained 4.6% year to date through Monday, while the NYSE Arca Airline Index has advanced 9.0% and the S&P 500 has climbed 14.4%.
https://finance.yahoo.com/m/15fb3d47-6609-377a-9dce-fd89fce6e81b/delta%26apos%3Bs-stock-surges.html?.tsrc=rss