Delta Air Lines shares experienced a 0.8% decline following a concerning incident. A Delta flight from Minnesota to Toronto crashed upon landing, leaving at least 18 passengers injured. The airline industry is closely monitoring the situation as investigations unfold to determine the cause of the crash.
Meanwhile, Bath & Body Works shares surged nearly 4% after JPMorgan upgraded its rating to overweight from neutral. This positive assessment reflects increased investor confidence in the retail chain's future prospects.
Fluor Corporation faced a challenging day as its shares dropped 5.5% due to disappointing fourth-quarter results and a cautious outlook for full-year earnings. The company reported earnings of 48 cents per share, excluding items, on $4.26 billion in revenue, falling short of analysts' expectations. FactSet analysts had anticipated earnings of $1.36 per share on revenue of $8.33 billion. Despite this setback, Fluor received a boost from Goldman Sachs and Bank of America, both of which initiated coverage with buy ratings. JPMorgan also expressed optimism about the company with an overweight rating.
In the medical sector, Medtronic shares fell 2.5% after reporting lower-than-expected quarterly revenue. However, the company exceeded earnings estimates due to strong demand for its heart and diabetes products. Medtronic posted adjusted earnings of $1.39 per share on revenue of $8.29 billion for the third quarter.
Altice USA saw its shares rise by 5% following an upgrade by Raymond James to outperform from market perform. This positive shift signals potential growth for the telecommunications company.
Southwest Airlines witnessed a 2.4% increase in its share value after announcing plans to reduce its corporate workforce by 15%. Analysts surveyed by FactSet had projected earnings of 78 cents per share and $4.42 billion in revenue for the airline, which has shown resilience in a challenging market environment.
Tapestry, the luxury fashion house, enjoyed a share price increase of over 2% after receiving an upgrade to buy from Redburn Atlantic. This reflects growing confidence in the company's ability to navigate the competitive luxury market.
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