AAL, DAL, and UAL are all substantially higher today
Airline stocks are taking off today, as Southwest Airlines (LUV) soars towards its best day since 2020 after hiking its third-quarter revenue forecast and authorizing a $2.5 billion stock buyback program. In response, three major sector players, American Airlines Group Inc (NASDAQ:AAL), Delta Air Lines, Inc. (NYSE:DAL), and United Airlines Holdings Inc (NASDAQ:UAL), are seeing big tailwinds.
American Airlines stock was last seen 7.1% higher at $11.78. A familiar ceiling at the $12 level that has provided resistance since the stock's mid-May bear gap is keeping today's gains in check. However, any upward movement is good, as AAL continues to try and distance itself from its Aug. 5, roughly four-year low of $9.07. While on track for its best single-session percentage gain since January, the equity remains down 14.5% in 2024.
Meanwhile, Delta Air Lines stock is up 6% at $51.66 at last glance. On the charts, DAL has consistently moved higher since nearing its January annual lows in early August, now sporting a one-month lead of 26.1% with help from its 10-day moving average. Still sitting beneath its mid-May year-to-date high of $53.86, the shares sport a 28% lead since the start of the year.
Finally, United Airlines stock sports a 7.8% midday gain, last seen trading at $58.34 -- its highest level since July 21, 2023. Today's bounce marks the security's biggest single-day percentage gain since early 2023. What's also impressive is the fact that so far in September, UAL has had just four negative performances, all of which were less than 1% daily drops. For the year, United Airlines stock is the best of the bunch, up nearly 41%.