Why Delta Air Lines, Manhattan Associates, and Diana Shipping Jumped Today
The stock market continued to gain ground on Tuesday, with major benchmarks finishing the day with modest advances. Wall Street got a lift from positive comments from billionaire investor Warren Buffett, who said that as long as interest rates remain at relatively low levels, current valuations across the broader stock market "make sense." In addition, positive news from several companies helped improve the mood among investors. Delta Air Lines (NYSE: DAL), Manhattan Associates (NASDAQ: MANH), and Diana Shipping (NYSE: DSX) were among the best performers on the day. Below, we'll look more closely at these stocks to tell you why they did so well.
Shares of Delta Air Lines gained almost 7% after the airline giant gave its latest performance numbers for September. Delta said that Hurricane Irma led to the cancellation of 2,200 flights across the Southeast, costing the company about $120 million. Yet the airline still believes that operating margin will come in between 15.5% and 16.5% for the September quarter. That's worse than Delta anticipated early last month before Irma hit, but investors were generally pleased with how well Delta managed to weather the storm. Moreover, with prospects for fare increases being able to hold due to industrywide negative impacts from recent hurricanes, Delta is taking the long view that overall profitability should benefit.
Image source: Delta Air Lines.
Source: Fool.com
Delta Air Lines Inc. Stock
Delta Air Lines Inc. is currently one of the favorites of our community with 16 Buy predictions and no Sell predictions.
As a result the target price of 53 € shows a slightly positive potential of 13.65% compared to the current price of 46.64 € for Delta Air Lines Inc..
