An impressive round of morning earnings has the market
advancing for a third straight day.
Stocks were up close to a percent this morning as several
companies exceeded their quarterly expectations. Those earnings
reports are a mere appetizer for this afternoon's
main course. For now, though, they are giving stocks an extra
jolt of energy.
Here's who reported earnings this morning - and how they
Delta Air Lines (
January through March is traditionally the weakest season for
airlines, but Delta filled more seats than expected in the
first quarter. The Atlanta-based airline earned 10 cents a
share, excluding items - ahead of Street estimates of 6 cents a
share. The earnings beat is sending Delta shares sky-high - the
stock is up 9% as of 11:25 ET this morning.
US Airways' (
earnings also came in higher than expected. The company
reported a profit of 31 cents a share vs. analyst estimates of
28 cents a share. The earnings beat has US Air shares up 5.3%
in early trading.
Shares of the insurance giant are getting a double boost after
the company not only topped earnings expectations but also
increased its dividend. First-quarter profits improved 11% over
a year ago and outpaced analyst estimates by 14%. A dividend
increase from 46 cents a share to 50 cents a share also
appealed to investors, pushing the stock up 2.4% today.