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The Turbulent Skies: Delta Air Lines’ Q4 Results Send Shockwaves Through the Market

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U.S. stocks traded mostly lower, with the Dow Jones index falling around 150 points on Friday.

Shares of Delta Air Lines, Inc. DAL took a nosedive during Friday’s session after the company released its fourth-quarter financial results and issued guidance.

Delta Air reported a fourth-quarter FY23 operating revenue growth of 5.9% year-over-year to $14.22 billion and adjusted operating revenue of $13.66 billion (+11.1% Y/Y), exceeding the consensus of $13.52 billion. The adjusted EPS came in at $1.28, surpassing the consensus of $1.17.

Delta Air Lines shares plummeted 7.9% to $38.92 on Friday.

Several other big stocks also recorded losses in today’s session.

  • Nukkleus Inc. NUKK shares tumbled 22.4% to $1.6604.
  • Bitdeer Technologies Group BTDR fell 13.7% to $6.20.
  • TeraWulf Inc. WULF shares fell 12.2% to $1.68.
  • Hut 8 Corp. HUT dipped 11.2% to $9.98. Hut 8 unveiled a $65 million amended and restated credit facility with Coinbase.
  • Iris Energy Limited IREN fell 10.9% to $5.38.
  • Jin Medical International Ltd. ZJYL shares dropped 10.6% to $69.13.
  • Marathon Digital Holdings, Inc.MARA fell 10.3% to $20.08.
  • Cognyte Software Ltd. CGNT fell 8.6% to $5.87.
  • CleanSpark, Inc. CLSK declined 8.6% to $8.47.
  • United Airlines Holdings, Inc. UAL dropped 8.6% to $40.70 in sympathy with Delta, which stumbled after reporting quarterly results and issuing 2024 guidance.
  • American Airlines Group Inc. AAL tumbled 8% to $13.42 in sympathy with Delta, which slipped after reporting quarterly results and issuing 2024 guidance.
  • Riot Platforms, Inc. RIOT fell 7.7% to $12.09.
  • Wheels Up Experience Inc. UP fell 7.4% to $4.0550.
  • QuantumScape Corporation QS declined 7.3% to $7.51.
  • Grifols, S.A. GRFS shares declined 6.7% to $7.43 following a decrease of around 14% on Thursday.
  • Alaska Air Group, Inc. ALK fell 5.4% to $34.99.
  • Southwest Airlines Co. LUV dipped 5.1% to $28.32 in sympathy with Delta, which stumbled after reporting quarterly results and issuing 2024 guidance.
  • Bank of America Corporation BAC fell 1.6% to $32.60 following quarterly results.

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