Consumer Discretionary

Delta Air Lines’ Growth Boosted By Demand For Premium Seats

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Delta Air Lines’ 3Q growth was lifted by sustained demand for the airline’s premium seats, including first class and business. Premium revenue grew 17% to $5.11 billion, outpacing the 12% revenue growth from Delta’s main-cabin ticket sales, which came to $6.62 billion for the quarter. The readout from Delta comes after several budget airlines warned of deteriorating demand for low-cost fares.

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Disney 4Q Looks to Be Continuation of Recent Trends

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Disney’s performance in 4Q appears to be a continuation of recent trends, say analysts at BofA Securities in a research note. Advertising is improving sequentially but not necessarily rebounding, while theme park trends overall remain healthy. The entertainment giant’s short dispute with Charter Communications should have a minimal impact. “FY24 outlook is clearly more positive as it will reflect solid underlying momentum at parks and continued improvement in losses at DTC, ” say the analysts. CEO Bob Iger has made a lot of progress in his first year back, but more is needed in the second year. The analysts believe the near-term strategic priorities include NBA contract renewal, bringing in a strategic partner or partners for ESPN, settling streaming service Hulu’s ownership and any potential asset sales or restructuring.

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Tesla Likely to Report Lower-Than-Expected Deliveries in Q3 Due to Factory Downtime, Wedbush Securities Says

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Tesla (TSLA) is likely to report lower Q3 deliveries than previously expected due to the impact of factory downtime, with more downtime likely to come next year, Wedbush Securities said in a note on Friday. The electric vehicle maker is now anticipated to report Q3 deliveries of 440,000 to 445,000 vehicles, down from the previously expected 460,000 to 465,000 vehicles, the investment firm said. Tesla, however, should still see a strong end to the year after a relatively strong China quarter stemming from rising demand, price cuts, and a Model 3 refresh, the investment firm said. Wedbush Securities reiterated an outperform rating, with a price target of $350.

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