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DAL

Delta Air Lines

$52.95

0.14 (0.27%)

15:03
06/23/17
06/23
15:03
06/23/17
15:03

Delta Air Lines, Korean Air create leading trans-Pacific joint venture

Delta Air Lines and Korean Air have reached an agreement to create a leading trans-Pacific joint venture in both scope and service, offering an enhanced and expanded network, industry-leading products and service and a seamless customer experience between the U.S. and Asia. The agreement, signed today, deepens their historic partnership, which spans nearly two decades. The agreement is the latest expansion of the longstanding partnership between Delta and Korean Air, which began in 2000 when both carriers became co-founders of the SkyTeam global airline alliance. This agreement follows the airlines' signing of a memorandum of understanding in March announcing the intention to form a joint venture. The joint venture will create a combined network serving more than 290 destinations in the Americas and more than 80 in Asia, providing customers of both airlines with more travel choices than ever before. The joint venture will augment the two airlines' capabilities in the trans-Pacific market and provide the necessary scale and scope to compete in this market. Delta and Korean Air will lay the groundwork for implementing all aspects of the joint venture, subject to regulatory approvals, including: Expanded codesharing in the trans-Pacific market; Joint sales and marketing initiatives in Asia and the United States; Colocation at key hubs with seamless passenger and baggage transit experience; Enhanced frequent flyer benefits, providing customers of both airlines the ability to earn and redeem miles on Delta's SkyMiles and Korean Air's SKYPASS programs; Increased belly cargo cooperation across the trans-Pacific. Under the agreement, the airlines will also share costs and revenues on flights within the scope of the joint venture as they work to expand service options for travelers. In anticipation of the joint venture, Delta recently launched new nonstop service between Atlanta and Seoul. This flight complements Korean Air's existing service and provides customers in the U.S. with greater access to destinations across Asia. At the same time Korean Air will continue to expand its U.S. - Korea network in summer 2017 with the introduction of a third roundtrip flight between Los Angeles and Seoul, as well as a second flight between San Francisco and Seoul.

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DAL Delta Air Lines
$52.95

0.14 (0.27%)

06/22/17
DBAB
06/22/17
NO CHANGE
DBAB
Buy
Deutsche sees Qatar interest in American as positive for U.S. airline stocks
Deutsche Bank analyst Michael Linenberg notes that several U.S. air carriers have made cross-border investments over the past several years and he saw it as "only a matter of time" before a non-US carrier would consider buying into an attractively valued U.S. airline. He views Qatar Airways' interest in acquiring an approximately 10% stake in American (AAL) as a positive for U.S. airline stocks that reinforces their relative "cheapness." The analyst, who thinks the fact that the U.S. airline industry is on track to account for more than 50% of global airline profits again in 2017 does not appear to be fully appreciated, has Buy ratings on American, Delta (DAL), Southwest (LUV) and United (UAL).
06/20/17
06/20/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Delta Air Lines (DAL) was initiated with an Overweight and a top pick at Atlantic Equities, while United Continental (UAL) was initiated with an Overweight, Southwest (LUV) was initiated with a Neutral, and American Airlines (AAL) was initiated with an Underweight. 2. Zoetis (ZTS) reinstated with a Buy at Hilliard Lyons. 3. Algonquin Power (AQN) initiated with a Market Perform at Wells Fargo. 4. Merit Medical (MMSI) initiated with a Buy at SunTrust. 5. Plymouth Industrial REIT (PLYM) initiated with a Buy at DA Davidson. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/20/17
ATLE
06/20/17
INITIATION
Target $68
ATLE
Overweight
Delta Air Lines initiated with an Overweight and a top pick at Atlantic Equities
Atlantic Equities analyst Lindsay Bettiol initiated Delta Air Lines with an Overweight, a $68 price target, and named its a top pick. The analyst likes the company's dominate position at its major hubs, flexible cost structure, strong balance sheet, and above peer free cash flow. Bettiol believes Delta provides exposure to improving margins while protection to the downside, should macroeconomic conditions worsen.
04/27/17
JPMS
04/27/17
DOWNGRADE
Target $52
JPMS
Neutral
American Airlines downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Jamie Baker downgraded American Airlines (AAL) to Neutral saying he's troubled by the company's $1B wealth transfer to labor groups. American disclosed yesterday that it chose to harmonize its flight attendant and pilot wage rates with those of Delta (DAL) and United (UAL), driving increases of roughly 5% and 8%, respectively, over the remainder of current contracts, Baker tells investors in a research note. This will drive an estimated $230M in increased 2017 labor expense, followed by increases of $350M in both 2018 and 2019, the analyst adds. The agreement "establishes a worrying precedent" both for American and the industry, Baker tells investors. The analyst cut his price target for American shares to $52 from $59. The stock closed yesterday down 21c to $46.40.

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ATU

Actuant

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NVO

Novo Nordisk

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GOOG

Alphabet

$926.96

4.74 (0.51%)

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Alphabet Class A

$944.27

6.19 (0.66%)

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GOOG

Alphabet

$926.96

4.74 (0.51%)

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Alphabet Class A

$944.27

6.19 (0.66%)

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SRUN

Silver Run

$10.19

0.01 (0.10%)

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HEI

Heico

$85.55

-0.87 (-1.01%)

18:37
08/16/17
08/16
18:37
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18:37
Downgrade
Heico rating change at Deutsche Bank »

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GPRK

GeoPark

$8.61

-0.13 (-1.49%)

18:36
08/16/17
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Earnings
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  • 17

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MEDP

Medpace

$31.21

-0.16 (-0.51%)

18:14
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  • 06

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TOUR

Tuniu

$7.76

-0.18 (-2.27%)

18:04
08/16/17
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18:04
Earnings
Tuniu reports Q2 EPS (11c), consensus (26c) »

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  • 16

    Aug

GLDD

Great Lakes Dredge

$3.85

-0.15 (-3.75%)

18:03
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Great Lakes Dredge CEO acquires 42,610 common shares »

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TISI

Team

$11.10

-0.25 (-2.20%)

18:00
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Team director Lois Waters purchases 17,500 shares of company stock »

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NTAP

NetApp

$42.41

0.44 (1.05%)

17:59
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Breaking Hot Stocks news story on NetApp »

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NTAP

NetApp

$42.41

0.44 (1.05%)

17:58
08/16/17
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Hot Stocks
Breaking Hot Stocks news story on NetApp »

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NTAP

NetApp

$42.42

0.44 (1.05%)

17:52
08/16/17
08/16
17:52
08/16/17
17:52
Earnings
NetApp sees low double digit EPS growth for FY18, consensus $3.03 »

Sees FY18 adjusted gross…

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SFST

Southern First Bancshares

$36.00

0.05 (0.14%)

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Southern First Bancshares CFO Michael Dowling sells 5,850 shares »

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  • 16

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BXE

Bellatrix Exploration

$2.40

-0.03 (-1.23%)

17:49
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NTAP

NetApp

$42.41

0.44 (1.05%)

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ACHN

Achillion

$4.88

-0.12 (-2.40%)

17:45
08/16/17
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Conference/Events
Achillion management to meet with William Blair »

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  • 16

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BCOR

Blucora

$23.35

0.1 (0.43%)

, BBOX

Black Box

$3.75

-0.25 (-6.25%)

17:35
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On The Fly: After Hours Movers »

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Blucora

$23.35

0.1 (0.43%)

BBOX

Black Box

$3.75

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BGG

Briggs & Stratton

$24.09

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LB

L Brands

$39.55

0.5 (1.28%)

VIPS

Vipshop

$11.10

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SPTN

SpartanNash

$25.96

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SNPS

Synopsys

$79.09

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CSCO

Cisco

$32.34

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NTAP

NetApp

$42.41

0.44 (1.05%)

LAKE

Lakeland Industries

$15.65

-0.25 (-1.57%)

GCP

GCP Applied Technologies

$28.75

0.1 (0.35%)

FNGN

Financial Engines

$34.35

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ACHC

Acadia

$51.68

-0.33 (-0.63%)

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ANDX

Andeavor Logistics

$46.94

0.12 (0.26%)

, WNRL

Western Refining Logistics

$24.25

0.1 (0.41%)

17:26
08/16/17
08/16
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Upgrade
Andeavor Logistics, Western Refining Logistics rating change at MUFG »

Andeavor Logistics…

ANDX

Andeavor Logistics

$46.94

0.12 (0.26%)

WNRL

Western Refining Logistics

$24.25

0.1 (0.41%)

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GD

General Dynamics

$200.61

1.12 (0.56%)

17:22
08/16/17
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Hot Stocks
General Dynamics awarded $115.3M government contract modification »

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  • 23

    Aug

BLVD

Boulevard Acquisition

$10.04

-0.01 (-0.10%)

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Breaking Hot Stocks news story on Boulevard Acquisition »

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FMBH

First Mid-Illinois Bancshares

$34.85

-0.33 (-0.94%)

17:17
08/16/17
08/16
17:17
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17:17
Syndicate
First Mid-Illinois Bancshares files to sell $20M of common stock 'at-the-market' »

First Mid-Illinois…

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  • 18

    Sep

NCOM

National Commerce

$39.55

0.1 (0.25%)

17:16
08/16/17
08/16
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Hot Stocks
National Commerce, FirstAtlantic Financial sign definitive merger agreement »

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  • 18

    Sep

AMGN

Amgen

$171.39

1.35 (0.79%)

17:13
08/16/17
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Hot Stocks
Amgen: NEJM publishes results from Repatha cognitive function trial »

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