Market Currents

• Thursday, October 30, 2008

• 08:58 AM Delta (DAL) completes its purchase of Northwest Airlines (NWA) to form the world's largest airline. The new company will have $35B in annual sales, 75,000 employees and provide $2B in new revenue and cost savings. DAL +8.9% premarket. Comment!

• Wednesday, October 22, 2008

• 08:49 AM Northwest Airlines (NWA): Q3 EPS of $0.35 beats by $0.10. Revenue of $3.8B (+12.4%) in-line. Shares +1%. (PR) Comment!
• 00:05 AM Notable earnings before Wednesday's open: ABFS, ABI, APD, ARW, ATI, BA, BHI, COP, DOV, EMC, FCL, GD, GENZ, GSK, KCI, KMB, MCD, MRK, NFX, NITE, NOC, NTRS, NWA, PM, R, RAI, ROH, RYN, SEIC, T, TCB, TRV, WB, WLP, WYE Comment!

• Thursday, September 25, 2008

• 15:39 PM Delta Air Lines (DAL +2.7%) shareholders approve Northwest Airlines (NWA +0.7%) merger by a ratio of 99:1. Comment!
• 09:46 AM Shareholders of Delta (DAL) and Northwest (NWA) will vote today on the proposed merger of the two airliners. A merger, which would create the world's second-largest airline, would still need Department of Justice approval. DAL +3.6%, NWA +0.1%. Comment!

• Tuesday, September 2, 2008

• 08:02 AM Airlines soaring premarket on oil's big drop. UAUA +17%. LCC +14%. DAL +14%. NWA +12%. AMR +12%. CAL +10%. RYAAY +10%. JBLU +9%. Crude -5.9% to $108.62. Comment!

• Wednesday, July 23, 2008

• 13:17 PM Northwest Airlines (NWA): EPS of $-1.43 misses by $0.91. Revenue of $3.58B (+12.4%) vs. $3.44B. Shares +7.3%. [PR] Comment!
• 00:05 AM Notable earnings before Wednesday's open: ABFS, APD, ARW, ATI, ATMI, BA, BTU, COP, CVG, DOV, EMC, EXC, GD, GENZ, GSK, HSY, MCD, NIHD, NWA, NYB, NYT, PEP, PFE, PM, PX, R, SEIC, SLM, SOV, SY, T, TCB, TNB, TRV, UIS, WHR, WLP, WYE Comment!

• Thursday, July 17, 2008

• 14:40 PM Car rental stocks like drop in crude: HTZ +22%. DTG +21.5%. CAR +12.3%. So do airlines: AMR +16.7%. LCC +18.75%. DAL +14.2%. NWA +11.7%. Comment!

• Wednesday, July 9, 2008

• 15:45 PM Northwest Airlines (NWA -16.6%), being bought by Delta (DAL -10.1%), is cutting 2,500 jobs and will join AMR and UAUA in charging $15 for the first checked bag. Carriers are slashing 20K jobs and parking 400 jets after fuel surged 87%. Comment!

• Wednesday, June 11, 2008

• 09:06 AM Pratt & Whitney (UTX) earns $3,000-5,000 per airplane engine wash. Northwest's (NWA) Tim McGraw says it saves $440,000/year for each 25 pounds it scrubs off. Comment!

• Friday, May 30, 2008

• 10:15 AM The AMEX Airline Index is down 2% now that it looks like airline consolidation is frozen. AMR -1.7%. DAL -2.6%. CAL -2.7%. NWA -3.2%. Comment!

• Wednesday, May 28, 2008

• 09:58 AM Airline stocks are falling as oil rises from pre-market lows. CAL +2.1%. UAUA -2.9%. LUV +0.8%. NWA +0.3%. LCC -3.6%. Comment!