Whilst the broader market was struggling for much of the day, there was notable strength in the airlines, with Delta (DAL) and United (UAL) settling net higher by 2.0% and 1.5% respectively. Near term outlook is a little shaky, as the main market has broken recent key lows.
*very strong reversals were seen in the airline stocks today. DAL held support and reversed, whilst UAL broke support, but then battled strongly upward.
Suffice to add... DAL earnings were a touch mixed, with EPS coming in at $1.47, but revenue a touch under expectations at $10.45bn.
Broadly, I favour DAL over UAL, which is arguably a far more stable company, as also reflected in its stock price action.
*UAL, earnings due, Mon' Oct 17th, AH.