Delta hits record profits and airline stocks bounce
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Delta, Wall Street
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The carrier will report earnings Thursday, providing an update on the health of the travel sector and the U.S. economy.
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Stocktwits on MSNDelta Stock Falls On Reports Of Airline Stripping Its Airbus Fleet In Europe To Power Grounded Aircraft In USDelta Air Lines Inc. (DAL) is reportedly cannibalizing its Airbus SE (EADSY) jets in Europe for engines to fit them onto its grounded aircraft in the U.S. According to a Bloomberg report, Delta Air Lines is stripping its European aircraft to overcome a shortage of engines as well as uncertainty resulting from President Donald Trump’s tariffs.
Delta Air Lines regains momentum with raised guidance, dividend hike, and strong premium, loyalty growth. See why DAL stock is upgraded to buy.
U.S. and overseas mining stocks rallied about 3% or more after President Trump confirmed copper tariffs will [take effect Aug. 1](
Trump the tariff man has returned in force. The president slapped a 50% tariff on copper imports, powering shares of metals play Freeport-McMoRan ( FCX) up almost 5% on the week. Copper ( HG=F) prices have surged 10% since Monday.
The airline reported better earnings than expected for its latest quarter, and restored its forecast for the rest of the year.
U.S. mining stocks rallied after President Trump confirmed copper tariffs will [take effect Aug. 1](
Delta Air Lines, the world’s largest carrier by revenue, reported upbeat second quarter results and reinstated its guidance as growing economic clarity deflects headwinds resulting from a global trade war.
Delta Air Lines executives say they believe the current slump in domestic air travel will pass soon, prompting the carrier to restore a full-year earnings forecast that it scrapped this spring amid market volatility.