- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Delta predicts 90% revenue decline; Berkshire Hathaway sells nearly 13 million shares
Posted on 4/4/20 at 12:05 am
Posted on 4/4/20 at 12:05 am
quote:
Delta CEO Ed Bastian says his company has not yet hit bottom as it is ravaged by fallout from the novel coronavirus pandemic. What's more, billionaire Warren Buffett has parted with nearly 13 million shares of Delta stock.
In a memo to Delta Air Lines Inc. employees Friday, which was released as a filing with the Securities and Exchange Commission, Bastian said he expects second quarter year-over-year revenue to fall by 90%. Passenger volume has sharply declined. On Saturday, March 28, roughly 38,000 commercial customers flew on Delta planes, according to Bastian, whereas a typical late March Saturday would see 600,000 travelers in the air.
"Unfortunately, even as Delta is burning more than $60 million in cash every day, we know we still haven’t seen the bottom," Bastian said in the memo.
A separate Securities and Exchange Commission filing from Friday afternoon reveals Buffett's Berkshire Hathaway Inc. sold 12,986,204 shares of Delta stock over the course of April 1 and April 2. Berkshire Hathaway still owns 58,900,759 shares and is classified as a 10% owner of the company. (Berkshire Hathaway also sold 2,307,749 shares of Southwest Airlines stock over the same period and now owns 51,334,964 shares in the Dallas-based carrier.)
LINK
4
Posted on 4/4/20 at 4:09 am to rickgrimes
AAL is trading under $9/share after hours. Might take a flyer on a 1000 shares if it gets to $6
Posted on 4/4/20 at 6:51 am to rickgrimes
My luck, this news drops the day after I pick up DAL and LUV.
Posted on 4/4/20 at 7:37 am to GREENHEAD22
quote:
My luck, this news drops the day after I pick up DAL and LUV.
I’ve got my eye on all airline stocks... SW just passed 52 week lows. American and Southwest are only two to break that point thus far.
The question is, how low do all go? Def will go under 52 week lows, but how much further?
This post was edited on 4/4/20 at 7:42 am
Posted on 4/4/20 at 7:40 am to GREENHEAD22
I just sold my DAL put Fri afternoon...
Posted on 4/4/20 at 7:44 am to GREENHEAD22
quote:
My luck, this news drops the day after I pick up DAL and LUV.
This is a lesson. Don’t pick winners / losers of individual stocks. Buy the entire market and enjoy the returns of the entire market. ITOT or VTI.
Posted on 4/4/20 at 8:52 am to OleWarSkuleAlum
quote:
This is a lesson. Don’t pick winners / losers of individual stocks. Buy the entire market and enjoy the returns of the entire market. ITOT or VTI.
IMO i would say that is probably smart. But if I was playing airlines I would avoid airline sector funds, I'm worried that most of these funds are mostly just the 4 majors.
I would look at the airlines that have the strongest balance sheets. Give me Southwest, Alaska, and JetBlue that even have cash reserves. Especially Southwest that still have tons of debt they can tap. Plus no exposure to Asia it Europe.
This post was edited on 4/4/20 at 8:53 am
Posted on 4/4/20 at 1:07 pm to Lsut81
quote:
American and Southwest are only two to break that point thus far. The question is, how low do all go? Def will go under 52 week lows, but how much further?
There's a really good chance that American goes to $0.00. It was a dumpster fire when the economy was good, and despite using 90%+ of its profits to support the share price through buybacks.
This post was edited on 4/4/20 at 1:08 pm
Posted on 4/4/20 at 1:47 pm to rickgrimes
So I bought $250 worth of DAL on March 13th. Obviously it’s lost money since then.
With the continued downward progression of Delta as a business, would it be advisable to cut losses now and pull out, or is there hope of DAL coming back in the next five or so years?
With the continued downward progression of Delta as a business, would it be advisable to cut losses now and pull out, or is there hope of DAL coming back in the next five or so years?
Posted on 4/4/20 at 1:52 pm to StringedInstruments
Just my opinion which isn't worth much according to my recent returns. I'd take your losses now if you want to reinvest it elsewhere. DAL is certainly going to go down some more or at least stay at this level for quite a while. Or it may not. No telling with this market.
Posted on 4/4/20 at 2:33 pm to OleWarSkuleAlum
quote:
This is a lesson. Don’t pick winners / losers of individual stocks. Buy the entire market and enjoy the returns of the entire market. ITOT or VTI.
Returns of the entire market are relatively small compared to the returns of one of these airlines getting back to where they were in December. Risk/reward. Most people know to balance. You don’t. You also went balls deep in the market with a lump sum and now you’re down 25% on that lump sum. You aren’t credible
Posted on 4/4/20 at 5:53 pm to StringedInstruments
quote:
With the continued downward progression of Delta as a business, would it be advisable to cut losses now and pull out, or is there hope of DAL coming back in the next five or so years?
I bought a few shares of DAL at $23. I feel OK hanging on to them. That should be one of the airlines that survives.
Posted on 4/4/20 at 9:45 pm to Boatshoes
Nm
This post was edited on 4/4/20 at 9:47 pm
Posted on 4/5/20 at 5:17 pm to StringedInstruments
With $250 in, ride it out. Worst case scenario is you are out a few drinks and appetizers at Trader Vic's.
Posted on 4/5/20 at 5:27 pm to deeprig9
Bought at $24 a few weeks ago and sold for $34.50
Bought back in at $22.50 on Thursday. Dammit.
Will probably end up buying more if it goes under previous lows of $19.
Bought back in at $22.50 on Thursday. Dammit.
Will probably end up buying more if it goes under previous lows of $19.
Posted on 4/6/20 at 8:21 am to rickgrimes
Could still open in the green after all the terrible news Friday. Made a huge comeback in futures this morning. I expected it to tank even in the midst of a huge broader market open today.
This post was edited on 4/6/20 at 8:24 am
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News