The airline stocks are strong performers after United Airlines (UAL) gained 12.44% on Wednesday. Airline stocks are at a one-year high, buoyed by United Airlines posting strong Q3 results.
In the last quarter, United reported revenue rising by 2.5% Y/Y to $14.84 billion. The results represent a milestone for the firm. UAL’s guidance for $2.50 to $3.00 per share demonstrates that the pandemic drag is in the past.
Delta Airlines (DAL) added 6.79%. Expect new highs in the coming weeks as investors bet that holiday travel volumes will increase this year.
In the banking sector, Morgan Stanley (MS) jumped by 6.5% yesterday after posting Q3 revenue growth of 20% Y/Y. The firm reported Q3 GAAP EPS of $1.88. It added net revenue of $1.5 billion, driven primarily by asset management revenue. MS stock will offset investor losses in the semiconductor sector.
The bottom stocks are in the tech sector.
ASML (ASML) continued to fall on Wednesday and may underperform today. ASML will also pull KLA Corp. (KLAC) lower after it accidentally posted its financial results a day early. ASML’s CEO, Christophe Fouquet, said that the recovery will extend well into 2025.
Customers are cautious, delaying their investments. This hurts ASML’s orders.
UnitedHealth (UNH) will try to bounce back today. It lost nearly $30 in its stock price this past week.
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