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LUV

Southwest

$55.88

0.16 (0.29%)

, JBLU

JetBlue

$18.55

-0.15 (-0.80%)

07:59
09/28/17
09/28
07:59
09/28/17
07:59

Southwest cuts capacity guidance due to recent natural disasters

Shares of Southwest Airlines (LUV) are in focus in premarket trading after the company cut its capacity and other guidance for the third quarter to reflect the impacts from the recent hurricanes and earthquakes. OPERATIONAL UPDATE: Southwest Airlines said in a regulatory filing this morning that it has canceled about 5,000 flights through September 27 due to the impacts from recent natural disasters, which includes hurricanes Harvey, Irma and Maria, as well as the earthquake in Mexico. The carrier currently expects a negative impact to its Q3 operating revenues of approximately $100M as a result. UPDATED GUIDANCE: Southwest expects Q3 available seat miles, or capacity, to increase about 3% from the year-ago period. The company expects Q3 operating revenue per available seat mile, or RASM, to be flat to down 1%. Operating expense per available seat mile, or CASM, is expected to be up 3%-4%. The company is still expecting fuel costs of $2.00 to $2.05 a gallon, based on derivative contracts and market prices as of September 22. WHAT'S NOTABLE: At the Cowen and Company's 10th Annual Global Transportation Conference on September 6, Southwest executive vice president and chief financial officer Tammy Romo estimated a $40M-$60M negative impact from Hurricane Harvey. She forecast Q3 RASM down 1% to up "slightly" year-over-year, CASM up 2%-3% from the year-ago period and capacity growth of 3.5%-4.5% year-over-year. Two days later, Southwest reported August traffic up 5.3% and reiterated that it expected Q3 RASM to be down 1% to slightly up from the year-ago period. PRICE ACTION: Southwest Airlines is fractionally lower in premarket trading. OTHERS TO WATCH: Peers in the space include JetBlue (JBLU), Delta (DAL), American Airlines (AAL) and United (UAL).

LUV

Southwest

$55.88

0.16 (0.29%)

JBLU

JetBlue

$18.55

-0.15 (-0.80%)

DAL

Delta Air Lines

$47.72

-0.78 (-1.61%)

AAL

American Airlines

$46.85

-0.73 (-1.53%)

UAL

United Continental

$60.92

1.24 (2.08%)

  • 28

    Sep

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    Sep

  • 29

    Sep

  • 02

    Oct

LUV Southwest
$55.88

0.16 (0.29%)

09/27/17
STFL
09/27/17
NO CHANGE
STFL
Big 4 airlines' exposure to Spirit lower than thought, says Stifel
Stifel analyst Joseph DeNardi believes that sell side analysts at other firms may be overstating the degree of overlap that the "Big 4" airlines - American Airlines (AAL), Delta (DAL), Southwest (LUV) and United Continental (UAL) - have with Spirit (SAVE) by not accurately adjusting to include only routes operated within the same time period as competitors. Adjusting to within a 2 hour time channel, he estimates only 5% of United's and Delta's total ASMs are directly exposed to Spirit, while 8% of American's ASMs and 11% of Southwest's are exposed, he tells investors. If United is hoping to influence Spirit's growth, it may choose to continue to compete aggressively, but if its goal is to improve margins, he would expect pricing to stabilize, DeNardi tells investors.
09/21/17
UBSW
09/21/17
NO CHANGE
UBSW
Recent correction in airline stocks overdone, says UBS
UBS analyst Darryl Genovesi noted that United Continental (UAL) and Alaska Air (ALK) are down about 20% while Delta (DAL) and American (AAL) have fallen about 10% so far in Q3 as the fare-matching narrative has re-surfaced and estimates for fuel costs have risen. However, he views the recent correction as overdone and thinks the airline group as a whole, which was cheap before, is cheaper now without the forward earnings growth outlook being any worse. Genovesi, who doesn't see evidence of a demand drop off in the travel agency data he tracks, thinks Q3 RASM weakness is predominantly "self-inflicted" by oversupply. Other publicly traded companies in the space include JetBlue (JBLU) and Southwest (LUV).
09/25/17
MACQ
09/25/17
INITIATION
Target $62
MACQ
Outperform
Southwest initiated with an Outperform at Macquarie
Macquarie analyst Susan Donofrio Southwest with an Outperform and a $62 price target saying its well positioned to succeed given its focus on fare segmentation and a new reservation system amid an industry backdrop of widespread fare discounting.
09/25/17
MACQ
09/25/17
INITIATION
Target $62
MACQ
Outperform
Southwest initiated with an Outperform at Macquarie
Macquarie analyst Susan Donofrio initiated Southwest with an Outperform and $62 price target saying its well positioned to succeed given its focus on fare segmentation and a new reservation system amid an industry backdrop of widespread fare discounting.
JBLU JetBlue
$18.55

-0.15 (-0.80%)

09/25/17
MACQ
09/25/17
INITIATION
Target $21
MACQ
Neutral
JetBlue initiated with a Neutral at Macquarie
Macquarie analyst Susan Donofrio initiated JetBlue with a Neutral and $21 price target saying it current network leaves it vulnerable to fare "skirmishes" between United and Spirit and demand remains soft due to recent Hurricane activity in its markets.
09/01/17
STPT
09/01/17
INITIATION
Target $26
STPT
Buy
JetBlue initiated with a Accumulate at Standpoint Research
Standpoint initiated JetBlue with an Accumulate and a $26 price target.
07/26/17
BUCK
07/26/17
DOWNGRADE
Target $24
BUCK
Neutral
JetBlue downgraded to Neutral from Buy at Buckingham
Buckingham downgraded JetBlue to Neutral and cut its price target to $24 from $28 based on a reduced 2018 outlook following the Q2 report. The firm's analyst now incorporates a pillot deal and said multiple expansion is unlikely given ongoing negotiations and increasing competitor capacity at the end of the year.
DAL Delta Air Lines
$47.72

-0.78 (-1.61%)

09/27/17
JPMS
09/27/17
NO CHANGE
Target $63
JPMS
Overweight
Delta price target lowered to $63 on revised profit sharing plan at JPMorgan
JPMorgan analyst Jamie Baker noted that Delta will harmonize its two existing profit sharing agreements to follow the higher, more expensive plan as of October 1, which prompted him to raise his estimated 2018 profit share expense by $416M to $1.3B and his 2019 expense estimate by $377M to about $1.5B. He lowered his price target on Delta to $63 from $67 to account for the higher expense estimates, but said the news does not change his thesis and he keeps an Overweight rating on the stock.
09/25/17
MACQ
09/25/17
INITIATION
Target $61
MACQ
Outperform
Delta Air Lines initiated with an Outperform at Macquarie
Macquarie analyst Susan Donofrio initiated Delta Air Lines with an Outperform and $61 price target based on expectations it will maintain its leadership position in setting new standards for initiatives, such as its Branded Fair product, and shareholder returns. Donofrio notes Delta has shown disciplined capacity growth and cost constraints.
AAL American Airlines
$46.85

-0.73 (-1.53%)

09/22/17
09/22/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. American Airlines (AAL) upgraded to Overweight from Equal Weight at Barclays with analyst Brandon Oglenski saying the company appears to have all the attributes of a "value compounding opportunity" for equity investors. 2. Mindbody (MB) upgraded to Overweight from Sector Weight at KeyBanc with analyst Brent Bracelin saying elevated churn risk from the company's model transition to higher-value subscribers is now discounted into the valuation. 3. Enviva (EVA) upgraded to Buy from Neutral at Citi with analyst Ryan Levine saying he likes the risk/reward at current levels and believes Enviva is well positioned in the next 12-18 months. 4. PSEG (PEG) upgraded to Overweight from Equal Weight at Barclays with analyst Gregg Orrill saying the company could be the industry's largest beneficiary of potential near-term policy initiatives. 5. AstraZeneca (AZN) upgraded to Outperform from Market Perform at Bernstein with analyst Tim Anderson saying that the outlook of its current products has improved, leaving it well-positioned to grow even if its pipeline does not yield any new drugs through 2025. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/22/17
LEHM
09/22/17
UPGRADE
Target $65
LEHM
Overweight
American Airlines upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Brandon Oglenski upgraded American Airlines Group to Overweight and raised his price target for the shares to $65 from $55. The shares closed yesterday up 87c to $46.29. The analyst makes American his new "Top Pick" in Airlines. The company appears to have all the attributes of a "value compounding opportunity" for equity investors, Oglenski tells investors in a research note. The shares "more than reflect headwinds" at less than nine times earnings, and its cash flow profile is improving, the analyst contends. He sees the company's revenue initiatives driving yield outperformance.
09/25/17
MACQ
09/25/17
INITIATION
Target $47
MACQ
Neutral
American Airlines initiated with a Neutral at Macquarie
Macquarie analyst Susan Donofrio initiated American Airlines with Neutral and $47 price target telling investors the company's financial performance could be pressured given its exposure to current price "skirmishes" between Spirit and United.
UAL United Continental
$60.92

1.24 (2.08%)

09/20/17
09/20/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Johnson & Johnson (JNJ) downgraded to Sell from Neutral at Goldman Sachs with analyst Jami Rubin saying pressure on key products combined with still-slow MD&D growth and continued strains on the consumer will leave the company with below average, long-term growth. 2. United Continental (UAL) downgraded to Market Perform at Raymond James with analyst Savanthi Syth saying an improvement in relative profitability versus legacy peers is likely to take longer than previously expected. 3. Ingersoll-Rand (IR) downgraded to Neutral from Overweight at JPMorgan with analyst C. Stephen Tusa saying he sees more relative upside and better risk/rewards elsewhere in the Electrical Equipment and Multi Industry sector. The analyst expects the company's solid execution to continue and raised his price target for the shares to $98 from $96. 4. L Brands (LB) downgraded to Market Perform from Outperform at Cowen with analyst Oliver Chen saying he sees risk to its comparable sales growth and margins if the company can not achieve elevated pricing. 5. Yahoo Japan (YAHOY) downgraded to Hold from Buy at Jefferies with analyst Hiroko Sato citing a lack of catalysts. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/25/17
MACQ
09/25/17
INITIATION
Target $64
MACQ
Neutral
United Continental initiated with a Neutral at Macquarie
Macquarie analyst Susan Donofrio initiated American Airlines with a Neutral and $64 price target. The analyst believes management's focus on regaining lost domestic market share will likely lead to financial underperformance.

TODAY'S FREE FLY STORIES

WAC

Walter Investment

$0.51

-0.0056 (-1.09%)

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TMST

TimkenSteel

$17.57

0.19 (1.09%)

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AGEN

Agenus

$4.33

-0.14 (-3.13%)

, GSK

GlaxoSmithKline

$40.84

-0.26 (-0.63%)

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Agenus

$4.33

-0.14 (-3.13%)

GSK

GlaxoSmithKline

$40.84

-0.26 (-0.63%)

03/08/13
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MS

Morgan Stanley

$50.68

0.89 (1.79%)

10:06
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10/21
10:06
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10:06
Periodicals
Another 20% gain in Morgan Stanley stock likely, Barron's says »

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  • 22

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SSNLF

Samsung

10:02
10/21/17
10/21
10:02
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10:02
Periodicals
Samsung has lots of upside driven by chips/screens, Barron's says »

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  • 21

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    Oct

DLAKY

Lufthansa

$30.28

0.2 (0.66%)

09:56
10/21/17
10/21
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09:56
Periodicals
Lufthansa has more room to climb, Barron's says »

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UAL

United Continental

$59.90

0.12 (0.20%)

, DAL

Delta Air Lines

$53.27

1 (1.91%)

09:51
10/21/17
10/21
09:51
10/21/17
09:51
Periodicals
Market pounds United, sees American/Delta as possibly safe bets, Barron's says »

United Continental's…

UAL

United Continental

$59.90

0.12 (0.20%)

DAL

Delta Air Lines

$53.27

1 (1.91%)

AAL

American Airlines

$51.93

0.42 (0.82%)

03/08/13
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Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 22

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  • 01

    Nov

CZR

Caesars

$12.20

0.15 (1.24%)

09:45
10/21/17
10/21
09:45
10/21/17
09:45
Periodicals
Caesars looks ready to grow again, Barron's says »

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  • 24

    Oct

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    Nov

DWDP

DowDuPont

$71.18

0.29 (0.41%)

09:40
10/21/17
10/21
09:40
10/21/17
09:40
Periodicals
DowDuPont shares likely to return as much as 30% over next year, Barron's says »

If DowDuPont can cut $3B…

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COH

Coach

$40.35

0.88 (2.23%)

09:29
10/21/17
10/21
09:29
10/21/17
09:29
Periodicals
Coach shares look undervalued, could rise nearly 30%, Barron's says »

Coach, which has…

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CNC

Centene

$96.50

1.8 (1.90%)

, MOH

Molina Healthcare

$64.40

0.76 (1.19%)

09:24
10/21/17
10/21
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09:24
Hot Stocks
Week in review: How Trump's policies moved stocks »

Catch up on the top…

CNC

Centene

$96.50

1.8 (1.90%)

MOH

Molina Healthcare

$64.40

0.76 (1.19%)

CI

Cigna

$191.42

3.2 (1.70%)

ANTM

Anthem

$194.69

1.49 (0.77%)

AET

Aetna

$160.84

3.2 (2.03%)

HNT

Health Net

HUM

Humana

$245.81

3.12 (1.29%)

UNH

UnitedHealth

$207.49

4.24 (2.09%)

WCG

WellCare

$180.52

3.28 (1.85%)

CYH

Community Health

$6.44

0.24 (3.87%)

HCA

HCA Healthcare

$81.05

1.26 (1.58%)

LPNT

LifePoint

$58.35

0.5 (0.86%)

THC

Tenet

$14.66

1.31 (9.81%)

UHS

Universal Health

$112.85

2.31 (2.09%)

GOOG

Alphabet

$988.20

3.75 (0.38%)

GOOGL

Alphabet Class A

$1,005.07

3.23 (0.32%)

MSFT

Microsoft

$78.81

0.9 (1.16%)

FB

Facebook

$174.98

0.42 (0.24%)

INTC

Intel

$40.43

0.34 (0.85%)

IBM

IBM

$162.07

1.17 (0.73%)

MAR

Marriott

$115.02

-0.18 (-0.16%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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    Nov

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    Mar

ETFC

E-Trade

$43.20

-0.49 (-1.12%)

08:55
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10/21
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08:45
10/21/17
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General news
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FB

Facebook

$174.98

0.42 (0.24%)

, AMZN

Amazon.com

$982.91

-3.7 (-0.38%)

08:25
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Periodicals
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Facebook (FB), Amazon…

FB

Facebook

$174.98

0.42 (0.24%)

AMZN

Amazon.com

$982.91

-3.7 (-0.38%)

GOOG

Alphabet

$988.20

3.75 (0.38%)

GOOGL

Alphabet Class A

$1,005.07

3.23 (0.32%)

03/08/13
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    Nov

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    Mar

DBVT

DBV Technologies

$48.07

0.92 (1.95%)

, AIMT

Aimmune

$25.66

-0.06 (-0.23%)

07:58
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10/21
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07:58
Hot Stocks
DBV believes FDA suggested continue moving forward with Viaskin »

DBV Technologies (DBVT)…

DBVT

DBV Technologies

$48.07

0.92 (1.95%)

AIMT

Aimmune

$25.66

-0.06 (-0.23%)

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  • 06

    Nov

04:55
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10/21
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General news
Breaking General news story  »

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ETFC

E-Trade

$43.20

-0.49 (-1.12%)

04:55
10/21/17
10/21
04:55
10/21/17
04:55
Conference/Events
E-Trade to hold an education day »

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  • 21

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  • 07

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19:15
10/20/17
10/20
19:15
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19:15
General news
Breaking General news story  »

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ATRS

Antares Pharma

$2.18

0.06 (2.83%)

18:59
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  • 20

    Oct

18:55
10/20/17
10/20
18:55
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18:55
Conference/Events
Federal Reserve Chairperson delivers a lecture at NEC Dinner »

Federal Reserve…

SHIP

Seanergy Marine

$1.24

0.0199 (1.63%)

17:50
10/20/17
10/20
17:50
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17:50
Syndicate
Breaking Syndicate news story on Seanergy Marine »

Seanergy Marine files to…

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HLI

Houlihan Lokey

$41.56

0.18 (0.43%)

17:49
10/20/17
10/20
17:49
10/20/17
17:49
Syndicate
Breaking Syndicate news story on Houlihan Lokey »

Houlihan Lokey files to…

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  • 24

    Oct

GEO

Geo Group

$26.20

0.2 (0.77%)

17:48
10/20/17
10/20
17:48
10/20/17
17:48
Syndicate
Breaking Syndicate news story on Geo Group »

Geo Group files automatic…

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  • 14

    Dec

DBVT

DBV Technologies

$48.07

0.92 (1.95%)

, AIMT

Aimmune

$25.66

-0.06 (-0.23%)

17:37
10/20/17
10/20
17:37
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17:37
Hot Stocks
DBV sinks following peanut allergy trial miss, Aimmune soars »

Shares of DBV…

DBVT

DBV Technologies

$48.07

0.92 (1.95%)

AIMT

Aimmune

$25.66

-0.06 (-0.23%)

03/08/13
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03/06/13
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03/06/13
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  • 06

    Nov

KALV

KalVista

$11.26

1.99 (21.47%)

, DBVT

DBV Technologies

$48.07

0.92 (1.95%)

17:24
10/20/17
10/20
17:24
10/20/17
17:24
Hot Stocks
On The Fly: After Hours Movers »

HIGHER: KalVista (KALV),…

KALV

KalVista

$11.26

1.99 (21.47%)

DBVT

DBV Technologies

$48.07

0.92 (1.95%)

03/08/13
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