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Delta's stock surges after AmEx credit card pact extended, March performance met
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/15fb3d4...e81b/delta's-stock-surges.html?.tsrc=rss
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/15fb3d4...e81b/delta's-stock-surges.html?.tsrc=rss
