Airlines Soar on Earnings Today
PUBLISHED ON: Aug 3, 2015
Airlines Up on Lower Fuel Prices, Higher Demand for Air TravelThe embattled airline industry saw some progress today, as three major carriers released positive earnings reports.
American Airlines (AAL), Southwest Airlines (LUV), and Delta Airlines (DAL) all saw share prices rise more than 3.5% on the day, thanks mostly to their earnings reports. All three major carriers are busier than they have been in years, as consumer spending increases and the economy continues to find its footing.
It's not just air travel that is making thee businesses money, though. Each one also operates a major cargo component to their businesses, and things are booming there as well. Cargo and B2B shipping are both on the rise, as companies enjoy the strengthening economy.
Tyson Foods (TSN) Down on EarningsPoultry packager and distributor Tyson Foods (TSN) had a tough trailing quarter, according to the latest earnings report. Although profits were up, the company didn't make as much money as expected. Tyson Foods is lowering guidance slightly in the face of its Q2 earnings. In trading today, Tyson Foods sank nearly 10%, losing 4.39 points to close out the trading day at $39.96 per share.
Frontier Communications (FTR) Continues its 5-Day SurgeIt's been a good week for Frontier Communications (FTR), and that continued into today's earnings report. Frontier is on a 5-day, 12% surge in share price thanks to some contracts they recently signed and the successes of the trailing quarter.
Analysts saw this move coming, by and large, and have been buying shares of Frontier all week long. In trading today, Frontier Communications gained another 9.11%. They added a scant 0.43 points to take their share prices up to $5.15. Frontier has a market capitalization of $5.5 billion and employs over 17,000 people nationwide.