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SkyWest

SkyWest Inc offers commercial air services in the United States, Canada, Mexico, and the Caribbean. Additionally, it leases aircraft to capable users to help generate revenue. Generally, SkyWest provides regional flights, and utilizes its smaller, lower-cost aircraft to carry passengers that booked tickets through airlines. It partners with carriers across the world to fly and operate aircraft for a fee. SkyWest may use the carriers brand and ground support to coordinate marketing and easily transport passengers. The company has two reportable segments: SkyWest Airlines and SkyWest Leasing.

SkyWest Inc

SKYWORKS SOLUTIONS ORD

SkyWater Technology Inc

Skyward Specialty Insurance Group, Inc. - Common Stock

Skyward Specialty Insurance Group Inc

SKYWEALTH GROUP INC by Skywealth Group Inc.

Skywealth Group Inc

Skyworks Solutions Inc

SKYWORTH GROUP LTD by Skyworth Group Limited

Skyworth Group Ltd

SKYWORTH GRP LTD UNSP/ADR by Skyworth Group Limited

As of Oct. 11, 2024, two stocks in the industrials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Uber Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>)</h3>
<ul>
<li>Uber will hold its quarterly conference call to discuss its third quarter financial results on Thursday, Oct. 31. The company's stock gained around 11% over the past month and has a <a href="https://www.benzinga.com/quote/UBER">52-week high of $82.14</a>.</li>
<li>RSI Value: 72.91&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>UBER Price Action: Shares of Uber closed at $77.92 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">SkyWest Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYW#NASDAQ">SKYW</a>)</h3>
<ul>
<li>SkyWest will host a live conference call and webcast after the closing bell on Thursday, Oct. 31 to discuss third quarter 2024 results. The company's stock gained around 19% over the past month and <a href="https://www.benzinga.com/quote/SKYW">has a 52-week high</a> of $88.89.</li>
<li>RSI Value: 74.68</li>
<li>SKYW Price Action: Shares of SkyWest rose 1.5% to close at $88.68 on Thursday.</li>
</ul>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/10/41286575/s-p-pulls-back-from-record-high-as-inflation-data-dents-investor-optimism-fear-index-remains-in-gre">S&amp;P Pulls Back From Record High As Inflation Data Dents Investor Optimism: Fear Index Remains In &#8216;Greed&#8217; Zone</a></li>
</ul>

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UBER

Top 2 Industrials Stocks That May Crash In Q4

SkyWest's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKYW#NYSE">SKYW</a>) short percent of float has risen 4.49% since its last report. The company recently reported that it has 1.54 million shares sold short, which is 5.58% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.61 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>SkyWest Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727721918_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for SkyWest has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing SkyWest's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, SkyWest's peer group average for short interest as a percentage of float is 11.96%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

How Is The Market Feeling About SkyWest?

SkyWest&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/skyw#NASDAQ">SKYW</a>) top line is boosted by an uptick in air travel demand. The company&#39;s proactive measures to expand and upgrade its fleet are commendable. Shareholder-friendly actions also bode well for SkyWest. However, high operating expenses are a major headwind.
<h3>Factors Favoring SKYW</h3>
SKYW is being well-served by the increase in flight volume and passenger loads, which is boosting charter revenues. Currently, SkyWest operates 16 aircraft at SkyWest Charter or SWC and anticipates robust expansion in on-demand charters through sports teams and various corporate opportunities, which are expected to boost the company&#39;s top line.
In the second quarter of 2024, pro-rate and charter revenues reached $107 million, reflecting a 6% increase from the first quarter of 2024 and a 30% rise from the second quarter of 2023, driven by higher flight volume and passenger loads.
SkyWest&#39;s fleet modernization and expansion efforts are commendable. In the second quarter of 2024, the company launched its first CRJ550 and Delta prorate operation. It received eight of the 20 United Finance E175s during the quarter and plans to continue enhancing its partnerships and increasing its regional market share.
By the end of 2026, management expects its E175 fleet to reach 278 aircraft, solidifying SkyWest as the largest Embraer operator in the world.
SKYW&#39;s commitment to rewarding its shareholders through share repurchase is noteworthy. Under the previously announced share repurchase program authorized by SkyWest&#39;s board of directors in May 2023, the company repurchased 177,000 shares of common stock for $13.3 million during the second quarter of 2024 at an average price per share of $75.23. As of Jun 30, 2024, SkyWest had $69 million of remaining availability under its current share repurchase program.
Shares of SKYW have surged 77.2% in the past year compared with its industry&#39;s growth of 15.2% in the same period.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/2b/74300.jpg?v=654559250" />
Image Source: Zacks Investment Research
<h3>Key Risks</h3>
SkyWest&#39;s financial stability is challenged by its increasing operating expenses and weak liquidity. In the second quarter of 2024, operating expenses surged by 8% year over year to $747 million. This increase in operating expenses was primarily driven by the 12% rise in block hour production year over year.
Maintenance expenses, accounting for 25% of the total operating expenses, rose by 12.8% year over year. For the second half of 2024, the company anticipates a $40 million increase in maintenance expenses compared to the first half of 2024 and, on average, $200 million a quarter during 2025. The labor costs comprising salaries and benefits were up by 9% year over year.
SkyWest exited the second quarter of 2024 with a current ratio (a measure of liquidity) of 0.84. A current ratio of less than 1 indicates that the company is likely to struggle to meet its short-term obligations. Reduced pricing power is another concern.
Zacks Rank
SKYW currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked stocks for investors&#39; consideration in the Zacks Transportation&nbsp;sector include C.H. Robinson Worldwide (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/chrw#NASDAQ">CHRW</a>) and Kirby Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kex#NYSE">KEX</a>).
C.H. Robinson Worldwide currently sports a Zacks Rank #1 (Strong Buy).
CHRW has an expected earnings growth rate of 27.4% for the current year.
The company has an impressive earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in three of the trailing four quarters and missed once, delivering an average surprise of 7.3%. Shares of CHRW have risen 3.9% in the past year.
KEX holds a Zacks Rank #2 (Buy) at present andhas an expected earnings growth rate of 40% for the current year.
The company has an encouraging track record with respect to the earnings surprise, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. The average beat is 8.7%. Shares of Kirby have climbed 44.7% in the past year.
<a href="https://www.zacks.com/stock/news/2321890/here-s-why-you-should-retain-skywest-skyw-stock-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2321890">To read this article on Zacks.com click here.</a>

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Here's Why You Should Retain SkyWest Stock Now

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Shares of airline companies are trading lower amid overall market weakness following weak US data.

After a turbulent week in the markets, the bulls reclaimed dominance on Wall Street during Friday&#8217;s session, with indices and sectors trading in positive territory as investors welcomed the latest corporate earnings results and further confirmation of inflation progressing toward <a href="https://www.benzinga.com/topic/interest-rates">the Fed&#8217;s 2% target.</a>
In June, the Personal Consumption Expenditure price index – the Fed&#8217;s preferred measure of inflation – dropped to 2.5% year-on-year, as anticipated, marking the lowest level since February 2021. The core component slightly exceeded expectations, remaining <a href="https://www.benzinga.com/top-stories/24/07/39987142/feds-favorite-inflation-gauge-keeps-falling-but-fed-wants-durable-downward-trend-economist-says">steady at 2.6% annually.</a>
Investors are unwavering in their expectations for a Fed interest rate cut in September, assigning it a 100% probability and factoring in nearly three cumulative rate cuts by year-end.
The Dow Jones Industrial Average led the charge on Friday, with the blue-chip index surging 1.9%, setting the stage for its strongest session this year. The tech-heavy Nasdaq 100 rebounded significantly, climbing 1.6%, which halted the tech sector&#8217;s decline but wasn&#8217;t enough to reverse a negative weekly close. 
The Russell 2000, as tracked by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), also posted a solid gain of 1.3%.
Rate-sensitive sectors continued their rally, with homebuilders, as tracked by the SPDR Homebuilders ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XHB#NYSE">XHB</a>), rising over 3% for the day, reaching all-time highs and marking their third <a href="https://www.benzinga.com/markets/equities/24/07/39988310/homebuilder-stocks-rally-to-record-highs-on-rate-cut-frenzy-but-housing-sales-still-struggle">consecutive positive weekly close.</a>
In the bond market, Treasuries rose as yields dipped slightly, especially in longer-dated maturities.
Gold also rallied, increasing by 1%, while oil prices dropped by 1%. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose 2.5%, marking its second consecutive positive session after three negative ones.
<h3 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,712.07</td>
<td>1.9%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,483.84</td>
<td>1.6%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,116.90</td>
<td>1.5%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,252.38</td>
<td>1.3%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:00 p.m. ET</figcaption></figure>
According to <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072524&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 1.5% higher to $546.75.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 2% to $407.34.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA:&nbsp;<a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) rose 1.5% to $465.21.</li>
<li>Sector-wise, the Industrials Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>)&nbsp;outperformed, up by 2.3%, while the&nbsp;Energy Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, up 0.5%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
Stocks moving on earnings were:
<ul>
<li>3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), up 19%. </li>
<li>Aon plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AON#NYSE">AON</a>) up 6.4%. </li>
<li>Avantor Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVTR#NYSE">AVTR</a>) up 12%.</li>
<li>Barnes Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>), down 3%.</li>
<li>BJ&#8217;s Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>), down 12%.</li>
<li>Booz Allen Hamilton Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAH#NYSE">BAH</a>) down 10%. </li>
<li>Boyd Gaming Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>), up 5.4%.</li>
<li>Bristol-Myers Squibb Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>), up 9.7%. </li>
<li>Centene Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNC#NYSE">CNC</a>) up 9.8%. </li>
<li>Charter Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) up 16.2%.</li>
<li>Colgate-Palmolive Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CL#NYSE">CL</a>) up 3.7%. </li>
<li>Deckers Outdoor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) up 7.9%.</li>
<li>DexCom, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXCM#NASDAQ">DXCM</a>) down 42%. </li>
<li>Franklin Resources Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEN#NYSE">BEN</a>) up 1.9%.</li>
<li> Juniper Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>) flat. </li>
<li>Mohawk Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHK#NYSE">MHK</a>) up 19%. </li>
<li>Newell Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWL#NASDAQ">NWL</a>) up 39%. </li>
<li>Saia Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAIA#NASDAQ">SAIA</a>) down 20%. </li>
<li>SkyWest, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYW#NASDAQ">SKYW</a>) down 6.5%. </li>
<li>T. Rowe Price Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TROW#NASDAQ">TROW</a>) down 2.8%. </li>
<li>VeriSign, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRSN#NASDAQ">VRSN</a>) up 3.3%. </li>
</ul>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39970069/investors-go-all-in-on-small-caps-pour-over-6-billion-into-russell-2000-etf-this-month-they-will">Investors Go All In On Small Caps, Pour Over $6 Billion Into Russell 2000 ETF This Month: They &#8216;Will Return To Larger-Cap Alternatives,&#8217; Veteran Analyst Says</a></li>
</ul>
Illustration via Shutterstock.

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Wall Street Enjoys Late-Week Rally On Benign Inflation Data, Dow Jones Eyes Best Session Of 2024, Tech Unwinding Stalls: What's Driving Markets Friday?

SkyWest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYW#NASDAQ">SKYW</a>) reported quarterly earnings of $1.82 per share which beat the analyst consensus estimate of $1.74 by 4.6 percent. The company reported quarterly sales of $867.118 million which beat the analyst consensus estimate of $826.623 million by 4.90 percent. This is a 19.50 percent increase over sales of $725.643 million the same period last year.

Earnings Beats

SkyWest Q2 2024 GAAP EPS $1.82 Beats $1.74 Estimate, Sales $867.118M Beat $826.623M Estimate

Wall Street strongly rebounded Thursday after Wednesday&#8217;s slump, driven by stronger-than-expected economic growth in the last quarter, countering <a href="https://www.benzinga.com/economics/macro-economic-events/24/07/39957034/us-economy-expands-2-8-in-q2-tops-estimates-weekly-jobless-claim-fall">concerns of a slowdown.</a>
The U.S. economy posted a notable 2.8% real growth in the second quarter, doubling the first quarter&#8217;s pace and exceeding the 2% growth estimate.
Adding to the positive outlook, the Personal Consumption Expenditure (PCE) price index showed cooling price pressures, dropping from 3.4% to 2.6%, signaling progress toward the 2% target.
At midday, major U.S. averages traded positively, with all eleven sectors of the S&amp;P 500 posting gains. The S&amp;P 500 index was up 1%, and the Dow gained a robust 1.3%. The tech-heavy Nasdaq 100 inched 0.9% higher, while small caps, tracked by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), rallied 2.4%.
Treasury yields fell significantly, with the 30-year yield down 6 basis points to 4.48%, boosting the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) by 1.8%.
Gold fell 1.6%, likely impacted by the rebound in riskier assets, silver plummeted 3.7%, while oil prices rose 0.7% to $77.80.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 1% to $64,750, marking its fourth straight session of losses.
<h3 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,252.16</td>
<td>2.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,361.96</td>
<td>1.3%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,480.26</td>
<td>1.0%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,202.70</td>
<td>0.9%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:30 p.m. ET</figcaption></figure>
According to <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072524&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.7% higher to $545.24.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 1.1% to $403.20.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA:&nbsp;<a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) rose 0.5% to $465.53.</li>
<li>Sector-wise, the Industrials Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>)&nbsp;outperformed, up by 1.9%, while the&nbsp;Communication Services Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) and the Utilities Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, both up 0.6%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
Stocks moving on earnings were:
<ul>
<li>Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>), down 2%.</li>
<li>Edwards Lifesciences Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EW#NYSE">EW</a>) down over 29%.</li>
<li>Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) down over 16%.</li>
<li>International Business Machines Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) up nearly 6%.</li>
<li>Las Vegas Sands Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LVS#NYSE">LVS</a>) down over 1%. </li>
<li>ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) ORLY), up over 15%. </li>
<li>Kla Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>) up 3.2%. </li>
<li>Teradyne Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TER#NASDAQ">TER</a>) down over 11%.</li>
<li>Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) down nearly 3%. </li>
<li>STMicroelectronics N.V. down over 11%. </li>
<li>O&#8217;Reilly Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORLY#NASDAQ">ORLY</a>) up over 4%.</li>
<li>AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) up nearly 4%. </li>
<li>American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) up over 6%. </li>
<li>AstraZeneca PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>) down 2.8%. </li>
<li>Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) up 1.9%. </li>
<li>Dow Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>) down 0.6%. </li>
<li>Hasbro, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>) up 3.8%. </li>
<li>Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>) down over 4%. </li>
<li>Sanofi (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) up 3.9%</li>
<li>Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) up 6.8%</li>
<li>RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) up over 8%. </li>
<li>Union Pacific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>) up 0.1%.</li>
<li>Valero Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>). </li>
<li>Xerox Holdings Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XRX#NASDAQ">XRX</a>) down over 7%. </li>
</ul>
Those reporting after the close include: SkyWest, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYW#NASDAQ">SKYW</a>), Juniper Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>), Deckers Outdoor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>), Boyd Gaming Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>), BJ&#8217;s Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>) and VeriSign, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRSN#NASDAQ">VRSN</a>).
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39963781/feds-favorite-inflation-gauge-set-to-drop-to-lowest-level-in-over-3-years-is-july-rate-cut-possi">Fed&#8217;s Favorite Inflation Gauge Set To Drop To Lowest Level In Over 3 Years: Is July Rate Cut Possible?</a></li>
</ul>
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Stocks Rebound As US Economy Flexes Muscles, Small Caps Rally, Gold Falls: What's Driving Markets Thursday?

Sentiment continues to be jittery, with the major index futures priming for a lower opening on Thursday as traders look ahead to the first read of second-quarter GDP data and more earnings. The tech space could once again drag the broader market after a few disappointing earnings reports from the likes of Franco-Italian chipmaker STMicroelectronics N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>), which predominantly supplies to the automotive end market, and semiconductor test-equipment company Teradyne, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TER#NASDAQ">TER</a>).
Traders may also stay glued to second-quarter GDP data to confirm the slowdown suggested by some recent data does not point to a hard landing. That said, bond yields are dipping as the market, factoring in not-so-positive economic data, and commodities are moving to the downside.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.50%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.29%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.10%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.07%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Thursday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) moved down 0.24% to $539.94, while the Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.43% to $461.40, according to <a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>. Cues From Last Session:
Mega-cap earnings proved to be the undoing of the market on Wednesday, triggering an across-the-board sell-off. The major indices opened lower, with the sell-off intensifying in early trading after S&amp;P Global&#8217;s manufacturing purchasing managers&#8217; index unexpectedly fell into contraction territory and new home sales for June unexpectedly declined.
The key averages declined steadily through the session before closing the day notably lower. The S&amp;P 500 Index and the Nasdaq pulled back to their lowest closes since June 12 and June 11, respectively, while the 30-stock Dow Jones Industrial Average fell to a nearly two-week low. 
On a percentage basis, the S&amp;P 500 and the Nasdaq Composite indices posted their worst performances since Dec. 15, 2022 and Oct. 7, 2000, respectively, <a href="https://www.marketwatch.com/livecoverage/stock-market-today-dow-futures-retreat-as-big-tech-earnings-disappoint/card/nasdaq-s-p-500-end-with-worst-days-since-2022-after-sharp-selloff-in-stocks-51c9PsIEmZRNo2D3h3Jc?mod=bnbh">according</a> to MarketWatch. 
Defensive utility, healthcare and consumer staple stocks escaped the brunt of the selling pressure, which was manifested more acutely in IT, communication services and consumer discretionary stocks. Energy stocks also posted modest gains.
Small-caps also joined their large-cap counterparts in the sell-off, with the Russell 2,000 slipping over 2%.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-3.64%</td>
<td>17,342.41</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-2.31%</td>
<td>5,427.13</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-1.25%</td>
<td>39,853.87</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-2.14%</td>
<td>2,195.37</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Morgan Stanley Chief U.S. Equity Strategist Mike Wilson in a podcast on Monday said the perceived underperformers under a Donald Trump presidency are alternative energy stocks and stocks of companies likely to be affected the most by increased tariffs. He noted that it is a widely-held view that Trump&#8217;s win in conjunction with a Republican sweep could be particularly beneficial for banks, small-caps, energy infrastructure and even industrials.
These cyclical areas that are perceived to outperform under a Trump Presidency did work in 2016 and through part of 2017, but they did even better during Biden&#8217;s first year, Wilson said. &#8220;Our rationale on this front is that the cycle plays a larger role in how stocks trade broadly and at the sector level than who is in the White House,&#8221; he said.
These cyclicals show &#8220;strong, but often not quite as strong performance in mid-cycle periods like 2016-17. They tend to show less strong returns later in the cycle like the current period,&#8221; he said.
Wilson also delved into the lower-quality, small-cap rally, attributing it to the combination of softer consumer price inflation data and hopes for an earlier Fed cut combined with dealer demand and short covering from investors on the back of Trump's improving odds.
&#8220;For those looking to the 2016 playbook,  we would point out that relative earnings revisions for small-cap cyclicals are much weaker today than they were during that period,&#8221; he said.
&#8220;Based on the evidence to date, we  would resist the urge to chase this cohort and lean back into large-cap quality and defensives.&#8221;
Charlie Bilello, chief market strategist at Creative Planning Investor, shared a graphic that showed the spread between the small and large caps, suggesting the &#8220;largest 10-day Small Cap outperformance ever.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">US Small Caps are up 7% over the last 10 trading days while US Large Caps are down 4%. The 11% spread is the largest 10-day Small Cap outperformance ever. <a href="https://twitter.com/search?q=%24IWM&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$IWM</a> <a href="https://twitter.com/search?q=%24SPY&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SPY</a> Chart of the Day: <a href="https://t.co/JHO611M8Fh">https://t.co/JHO611M8Fh</a> <a href="https://t.co/0kQXFzjpkD">pic.twitter.com/0kQXFzjpkD</a>
&mdash; Charlie Bilello (@charliebilello) <a href="https://twitter.com/charliebilello/status/1816234621165518911?ref_src=twsrc%5Etfw">July 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Upcoming Economic Data:
<ul>
<li>The Bureau of Economic Analysis is due to release the first estimate of second-quarter GDP at 8:30 a.m. EDT. Economists, on average, expect annualized quarterly GDP growth of 2.1% compared to the 1.4% growth in the first quarter. Traders may also keep an eye on the inflation components of the report, namely the annual rate of personal consumption expenditure and the GDP deflator.</li>
<li>The Labor Department will release its weekly jobless claims report at 8:30 a.m. EDT. The number of individuals claiming unemployment benefits may have come in at 235,000 in the week ended July 20 compared to 243,000 in the previous week.</li>
<li>The Commerce Department is scheduled to release the durables goods orders report for June at 8:30 a.m. EDT. The consensus estimate calls for a 0.3% month-over-month increase in orders for durable goods, faster than the 0.1% growth in May. Excluding the volatile transportation orders, that may have increased 0.2%, reversing part of the 0.1% drop in May.</li>
<li>The Treasury will auction four- and eight-week bills at 11:30 a.m. EDT and seven-year notes at 1 p.m. EDT.</li>
</ul>
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Stocks In Focus:
<ul>
<li>Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) rose over 3% <a href="https://www.benzinga.com/premarket">in premarket trading </a>following the quarterly results announcement from the fast-food chain.</li>
<li>The other stocks moving on earnings are Edwards Lifesciences Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EW#NYSE">EW</a>) (down over 22%), Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) (down over 13.6%), International Business Machines Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) (up over 4%), Las Vegas Sands Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LVS#NYSE">LVS</a>) (down over 3%), ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) ORLY) (up about 6.50%), Teradyne (down over 8%), STMicroelectronics (down over 12.50%) and O&#8217;Reilly Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORLY#NASDAQ">ORLY</a>) (down over 5%).</li>
<li>AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>), American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>), AstraZeneca PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>), Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>), Dow Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>), Hasbro, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>), Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>), Sanofi (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>), Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>), STMicroelectronics N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>), Union Pacific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>) and Xerox Holdings Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XRX#NASDAQ">XRX</a>) are among the<a href="https://www.benzinga.com/calendars/earnings"> notable companies reporting ahead of the market open.</a></li>
<li>Those reporting after the close include SkyWest, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYW#NASDAQ">SKYW</a>), Juniper Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>), Deckers Outdoor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>), Boyd Gaming Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>), BJ&#8217;s Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>) and VeriSign, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRSN#NASDAQ">VRSN</a>)</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures fell sharply, dropping to the lowest since June 10 intraday, and gold futures also fell, retreating below the $2,400 mark. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell toward the $64K level. The yield on the 10-year benchmark Treasury note was down 6.5 basis points to 4.22%. 
The major global equity markets were swathed in a sea of red, with the Asian markets, led lower by the Japanese markets, as traders in the regional markets fretted about the losses on Wall Street and expressed apprehensions ahead of key U.S. data. European stocks were deep in negative territory, stung by the negative global market sentiment and some disappointing earnings.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39874391/tesla-alphabet-gm-ford-lead-earnings-parade-this-week-as-market-struggles-to-sustain-the-summer-">Tesla, Alphabet, GM, Ford Lead Earnings Parade This Week As Market Struggles To Sustain The Summer Rally</a></li>
</ul>
Photo Via Shutterstock

Futures

Previews

Movers

Nasdaq, S&P Futures Slide On More Negative Tech Tidings As Focus Shifts To Q2 GDP Data: Strategist Says Trump Trades May Not Work Even If Ex-President Retakes White House

About <a href="https://www.benzinga.com/news/earnings/24/07/39769910/goldman-sachs-q2-earnings-revenue-and-eps-beat-investment-banking-fees-up-21-hikes-dividend">14% of the S&amp;P 500 companies have reported their June quarter earnings</a> and the blended earnings growth rate for the companies constituting the broader index remains healthy. The coming week will see the official start of the tech reporting season, which could potentially decide the fate of the market, which has seen a steep pullback in the recent week.
The Week That Was: The tech earnings season had a modest start last week with the earnings report from chip-equipment maker ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>). The stock slumped about 16%, dragged by its weak third-quarter outlook and geopolitical concerns surrounding the China chip ban. Netflix, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) guidance disappointed investors, but with sell-side analysts raving over the results, the stock did not get hammered.
Investors cheered earnings reports from the remaining big banks, namely Bank of America Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) and Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>). A rebound in investment banking business and strong trading revenue helped the banks shore up their topline.
Of these companies, 80% reported earnings per share above estimates compared to the five-year average of 77%, said FactSet in its latest earnings insight <a href="https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_071924.pdf">report.</a> The average upside is about 5.5%, which, however, is below the five-year average of 8.6%.
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks Right Now</a>
Earnings Trend: The blended earnings growth rate for the S&amp;P 500 companies for the second quarter is currently estimated at 9.7%, up from 9.1% in the previous week, FactSet noted. If the estimate is hit, the actual growth rate for the quarter will mark the highest year-over-year rate reported since the fourth quarter of 2021, it added. The second quarter will also likely mark the fourth consecutive quarter of growth.
Eight of the qq S&amp;P 500 sectors are expected to report year-over-year earnings growth, with four, namely communication services, healthcare, IT, and financials, likely reporting double-digit earnings growth. On the other hand, three sectors will likely report earnings declines, led by the materials sector.
The Week Ahead: The unfolding week will see earnings reports from 138 S&amp;P 500 companies, including seven Dow 30 components, Factset report said. The earnings slate for the week includes companies from the telecom, auto, steel, chip, homebuilding, defense, airline and tech industries.
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) are among the closely watched copmanies, given their heavy weightings in the S&amp;P 500 and the Nasdaq indices. Tesla is widely expected to report a sharp year-over-year decline in its earnings per share from 91 cents to 62 cents, while revenue may have seen a much more modest 0.80% decline to $24.73 billion. The greater impact on the bottom line comes from the price cuts that Elon Musk&#8216;s company has relied on to push volume in a challenging demand environment.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39810457/as-tesla-stock-bounces-back-fund-manager-says-elon-musk-led-company-offers-good-set">Analysts and fund managers are optimistic</a> after the company reported a deliveries beat for the quarter. They also expect an inflection in the second-half of the year.
Alphabet&#8217;s earnings are important because it is the first among the AI-levered mega-cap companies to release its quarterly results, which might set the tempo for the earnings from the rest in the space. 
The stock market took a hit last week as major indices retreated from their record highs.The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), an index that tracks the performance of the Nasdaq 100 Index, ended Friday&#8217;s session down 0.89% to $475.24, according to Benzinga Pro data. The ETF is trading off its record close of $502.96 reached on July 10. The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.66% on Friday before closing at $548.99.
Notable among the companies reporting this week are:
Monday
Before market open:
<ul>
<li>Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>)</li>
</ul>
After close:
<ul>
<li>Agilysys, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGYS#NASDAQ">AGYS</a>)</li>
<li>Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>)</li>
<li>Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>)</li>
<li>NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>)</li>
</ul>
Tuesday
Before market open:
<ul>
<li>&nbsp;Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>)</li>
<li>Freeport-McMoRan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>)</li>
<li>GATX Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GATX#NYSE">GATX</a>)</li>
<li>GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>)</li>
<li>General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>)</li>
<li>Kimberly-Clark Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMB#NYSE">KMB</a>)</li>
<li>Lockheed Martin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>)</li>
<li>Philip Morris International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PM#NYSE">PM</a>)</li>
<li>PulteGroup, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>)</li>
<li>Quest Diagnostics Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>)</li>
<li>Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>)</li>
<li>United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>)</li>
</ul>
After close:
<ul>
<li>Alphabet</li>
<li>Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>)</li>
<li>Chubb Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>)</li>
<li>Mattel, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>)</li>
<li>Packaging Corporation of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKG#NYSE">PKG</a>)</li>
<li>Seagate Technology Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>)</li>
<li>Tesla</li>
<li>Texas Instruments, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>)</li>
<li>Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>)</li>
</ul>
Wednesday
Before market open:
<ul>
<li>AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>)</li>
<li>Check Point Software Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHKP#NASDAQ">CHKP</a>)</li>
<li>Boston Scientific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>)</li>
<li>CME Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CME#NASDAQ">CME</a>)</li>
<li>General Dynamics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>)</li>
<li>Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>)</li>
<li>GE Vernova Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>)</li>
<li>Thermo Fisher Scientific Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>)</li>
</ul>
After close:
<ul>
<li>Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>)</li>
<li>Edwards Lifesciences Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EW#NYSE">EW</a>)</li>
<li>Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>)</li>
<li>International Business Machines Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>)</li>
<li>Knight-Swift Transportation Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>)</li>
<li>Las Vegas Sands Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LVS#NYSE">LVS</a>)</li>
<li>Meritage Homes Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTH#NYSE">MTH</a>)</li>
<li>Whirlpool Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>)</li>
<li> ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) ORLY</li>
<li>O&#8217;Reilly Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORLY#NASDAQ">ORLY</a>)</li>
</ul>
Thursday
Before market open:
<ul>
<li>AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>)</li>
<li>American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) </li>
<li>AstraZeneca PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>)</li>
<li>Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>)</li>
<li>Dow Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>)</li>
<li>Hasbro, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>)</li>
<li>Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>)</li>
<li>Sanofi (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>)</li>
<li>Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>)</li>
<li>STMicroelectronics N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>)</li>
<li>Union Pacific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>)</li>
<li> Xerox Holdings Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XRX#NASDAQ">XRX</a>)</li>
</ul>
After close:
<ul>
<li>SkyWest, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYW#NASDAQ">SKYW</a>)</li>
<li>Juniper Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>)</li>
<li>Deckers Outdoor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>)</li>
<li>Boyd Gaming Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>)</li>
<li>BJ&#8217;s Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>)</li>
<li>VeriSign, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRSN#NASDAQ">VRSN</a>)</li>
</ul>
Friday
Before market open:
<ul>
<li>3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>)</li>
<li>Barnes Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>)</li>
<li>Bristol-Myers Squibb Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>)</li>
<li>Newell Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWL#NASDAQ">NWL</a>)</li>
<li>Colgate-Palmolive Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CL#NYSE">CL</a>)</li>
<li>Charter Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>)</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/39857569/american-express-q2-earnings-ceo-raises-annual-profit-and-marketing-spend-outlook-after-q2-profit-b">American Express Q2 Earnings: CEO Raises Annual Profit And Marketing Spend Outlook After Q2 Profit Beat</a></li>
</ul>
Photo: Shutterstock

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GATX

GOOG

GOOGL

NFLX

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ODFL

SPOT

TSLA

Tesla, Alphabet, GM, Ford Lead Earnings Parade This Week As Market Struggles To Sustain The Summer Rally

Hawaiian Holdings&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ha#NASDAQ">HA</a>) is riding on its continued healthy demand scenario. The company&#39;s efforts to expand are commendable. However, a surge in operating expenses and weak liquidity does not bode well for the company.
<h3>Factors Favoring HA</h3>
The uptick in air travel demand bodes well for Hawaiian Holdings. In the first quarter of 2024, scheduled airline traffic (measured by revenue passenger miles) increased 5.9% year over year. Scheduled capacity (measured in available seat miles or ASM) rose 2.7% year over year. Passenger load factor (percentage of seats filled by passengers) improved by 2.4 pts to 80.6% year over year.
For the second quarter of 2024, the company expects a 3.5%-6.5% year-over-year increase in ASM. Meanwhile, for the full year, the company expects the metrics to improve 4.5%-7.5% year over year.
HA&#39;s expansion efforts are praiseworthy. On Apr 15, 2024, Hawaiian Holdings began Boeing 787-9 Dreamliner revenue service, a move expected to double premium seating on key routes while maintaining competitive operating costs. The airline also announced new flights from Salt Lake City to Honolulu and from Sacramento to Lihu&#39;e and Kona. &nbsp;
The impending merger with Alaska Air Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/alk#NYSE">ALK</a>) is another tailwind for HA, under which Alaska will acquire Hawaiian for $18.00 per share in cash with a transaction value of approximately $1.9 billion. This merger is expected to provide a substantial boost for Hawaiian, enhancing its ability to execute its business plan, strengthen its liquidity and manage its debts effectively.
Shares of Hawaiian Holdings have rallied 24% over the past year compared to a 1.5% decline of the&nbsp;industry.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/e3/71312.jpg?v=1960393177" />
Image Source: Zacks Investment Research
<h3>Key Risks</h3>
Rising fuel costs are hurting Hawaiian Holdings&#39; bottom line. This trend is primarily due to the ongoing production cuts adopted by Saudi Arabia and Russia. The fuel price per gallon is anticipated to be $2.85 for the second quarter of 2024 and&nbsp;$2.83 for the full year of 2024.
The elevated labor expenses are also severely impacting the company&#39;s bottom line by pushing up operating costs.The company expects costs per available seat mile (excluding fuel &amp; non-recurring items) in the second quarter of 2024 to increase 5-8% from the second-quarter 2023 actuals.
Hawaiian Holdings ended the first quarter of 2024 with a current ratio (a measure of liquidity) of 0.89. A current ratio of less than 1 implies that the company does not have enough cash to meet its debt burden, raising liquidity concerns.
<h3>Zacks Rank</h3>
HA currently carries a Zacks Rank #3 (Hold).
<h3>Stocks to Consider</h3>
Some better-ranked stocks for investors&#39; consideration in the Zacks Transportation sector include SkyWest (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/skyw#NASDAQ">SKYW</a>) and Air Lease (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/al#NYSE">AL</a>).
SKYW currently sports a Zacks Rank #1 (Strong Buy) and has an expected earnings growth rate of 787% for the current year.
The company has an impressive earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 128%. Shares of SkyWest have jumped 101% in the past year.
AL sports a Zacks Rank #1. Air Lease has an expected earnings growth rate of 31.1% for the current year.
The company has an encouraging track record with respect to the earnings surprise, having surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missing once. The average beat is 15.6%. Shares of AL have climbed 11% in the past year.
<a href="https://www.zacks.com/stock/news/2301676/here-s-why-you-should-retain-hawaiian-holdings-ha-stock?cid=CS-BENZ-FT-analyst_blog|rank_focused-2301676">To read this article on Zacks.com click here.</a>

Here's Why You Should Retain Hawaiian Holdings Stock

SkyWest Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYW#NASDAQ">SKYW</a>) shares are trading lower by 2.4% to $81.73 during Thursday&#8217;s session. Shares of airline stocks are trading lower in sympathy with Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), which fell after reporting <a href="https://www.benzinga.com/news/earnings/24/07/39726801/delta-air-lines-q2-earnings-eps-miss-revenue-beat-underwhelming-q3-eps-outlook-and-more">mixed second-quarter earnings</a>.
SkyWest operates a substantial number of regional flights for Delta, using aircraft branded with Delta's livery. These flights are typically shorter routes that feed into Delta's larger network, allowing Delta to serve smaller markets efficiently.
When Delta's stock falls due to mixed earnings, broader industry challenges or operational issues, investors might anticipate that these issues will trickle down to its regional partners like SkyWest. This perceived risk can lead to a decline in SkyWest's stock price as well.
Read Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/07/39728268/inflation-slows-more-expected-to-3-in-june-heightens-expectations-for-rate-cuts-t">Inflation Slows More Expected To 3% In June, Heightens Expectations For Rate Cuts: Treasury Yields Tumble</a>
<h2 class="wp-block-heading">Is SKYW A Good Stock To Buy?</h2>
An investor or trader's decision to buy or sell a stock is unique to their time horizon and risk tolerance. Many typical investors evaluate earnings growth and valuation on a particular stock before making a decision. 
For example, for SkyWest, you'll notice that earnings in its <a href="https://www.benzinga.com/quote/SKYW/earnings">last quarter grew 17.89%</a>. As an investor, you'll want to decide whether that's better or worse than what you'd like to see among stocks in your portfolio.
On the valuation side, SkyWest's price to earnings ratio &#8211; a measure of how much an investor pays for the company's earnings &#8211; is projected to compress 68.42% in the current quarter when compared with last year. That places it above similar businesses Delta Air Lines, Ryanair Hldgs, Southwest Airlines in its sector. You'll need to decide whether that makes it more or less attractive based on how you think the company will perform over time.
There are many different valuation metrics that may help you make a decision. Find more on <a href="https://www.benzinga.com/quote/SKYW">SkyWest's quote page</a>, or if you'd like a deeper dive in an advanced program, try <a href="https://pro.benzinga.com">Benzinga PRO</a> for free.
According to data from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, SKYW has a 52-week high of $84.68 and a 52-week low of $36.91.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/07/39728268/inflation-slows-more-expected-to-3-in-june-heightens-expectations-for-rate-cuts-t">Inflation Slows More Expected To 3% In June, Heightens Expectations For Rate Cuts: Treasury Yields Tumble</a></li>
</ul>

Why SkyWest (SKYW) Stock Is Falling

Airline stocks have been flying high, primarily owing to strong passenger revenues. Air travel demand has roared back from the pandemic lows and is particularly strong on the leisure front. Demand for business travel is also bouncing back nicely. Driven by upbeat passenger volumes, stocks in the airline industry have performed well in the first half of 2024.
With passenger traffic anticipated to remain high throughout the year, airline stocks are expected to perform strongly in the latter half of 2024 as well. Passenger volumes are likely to move further northward in the ongoing summer season. Per Airlines for America, U.S. airlines are anticipated to carry 271 million passengers from Jun 1 to Aug 31, 2024.
The projection marks an all-time high. Air travel is expected to soar over the Labor Day holiday period later this year as well. It is also anticipated to be high during winter, thereby keeping airlines in good shape. Moreover, efforts to reward shareholders by the industry players indicate financial strength.
This optimism regarding air travel is not limited to the United States only. In June, the International Air Transport Association, or IATA, increased its current-year global profitability (net) forecast for the industry to $30.5 billion from $25.7 billion estimated in December last year. Net profit in 2023 was $27.4 billion. The top line in 2024 is now anticipated to be $996 billion compared with the previous estimate of $964 billion. The revised revenue forecast, a record high, indicates a 9.7% increase from the 2023 actuals driven by upbeat passenger volumes.
Given this encouraging backdrop, we have highlighted three airline stocks that investors should keep a tab on as they are anticipated to perform well going forward. Additionally, the companies have witnessed favorable earnings estimate revisions for the current year.
<h3>Our Choices</h3>
SkyWest (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/skyw#NASDAQ">SKYW</a>) carries a Zacks Rank #2 (Buy) at present. The upbeat air travel demand bodes well for this St. George, UT-based regional carrier. SkyWest&#39;s fleet modernization efforts are commendable. The Zacks Consensus Estimate for SKYW&#39;s 2024 earnings has improved 6.9% over the past 90 days.
SKYW has an expected earnings growth rate of more than 100% for 2024. The company delivered a trailing four-quarter earnings surprise of 128.09%, on average. The Zacks Consensus Estimate for SKYW&#39;s 2025 earnings has improved 7.4% over the past 90 days.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/9f/70068.jpg?v=1648088446" />
Image Source: Zacks Investment Research
United Airlines&nbsp;is based in Chicago. The gradual increase in air travel demand (particularly for leisure) is aiding UAL. However, high operating costs are hurting the bottom line.
Over the past 60 days, the stock has seen the Zacks Consensus Estimate for 2024 earnings being revised 0.2% upward. The Zacks Consensus Estimate for 2025 earnings has been revised 0.4% upward over the past 60 days. UAL currently carries a Zacks Rank #3 (Hold).
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/65/70077.jpg?v=1665825479" />
Image Source: Zacks Investment Research
Alaska Air (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/alk#NYSE">ALK</a>):&nbsp;The company, based in Seattle, WA, is being aided by the uptick in air travel demand. The carrier&#39;s shareholder-friendly attitude also bodes well.
Over the past 60 days, the Zacks Consensus Estimate for 2024 earnings has been revised 2% upward. The Zacks Consensus Estimate for 2025 earnings has been revised 5.1% upward over the past 60 days. ALK currently carries a Zacks Rank #3.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/3f/70072.jpg?v=2028586156" />
Image Source: Zacks Investment Research
<a href="https://www.zacks.com/stock/news/2296202/3-airline-stocks-you-should-keep-an-eye-on-in-2h24?cid=CS-BENZ-FT-analyst_blog|industry_focus-2296202">To read this article on Zacks.com click here.</a>

3 Airline Stocks You Should Keep an Eye on in 2H24

Ryanair Holdings (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ryaay#NASDAQ">RYAAY</a>) reported solid traffic numbers for June 2024, driven by upbeat air-travel demand.
The number of passengers transported on Ryanair flights was 19.3 million in June 2024, reflecting an 11% year-over-year increase. RYAAY&#39;s traffic in June was much more than the May reading of 18.9 million, April reading of 17.3 million and March reading of 13.6 million.
The June load factor (percentage of seats filled by passengers) of 95% remained flat sequentially as well as on a year-over-year basis. The figure was higher than the load factor of 92% reported in April 2024 and 93% reported in March 2024.
Notably, RYAAY operated more than 106,000 flights in June 2024. This marks an improvement from 105,000 operated flights in May 2024, 98,400 flights operated in April 2024 and 77,000 flights operated in March 2024. However, almost 400 flights got canceled due to the ATC (air traffic control) delays.
Ryanair continues to benefit from improved traffic growth. Traffic increased 9% in fiscal 2024. Management expects fiscal 2025 traffic to grow 8%, subject to Boeing deliveries returning to contracted levels before the year-end.
<h3>Zacks Rank and Stocks to Consider</h3>
RYAAY currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks for investors&#39; consideration in the Zacks Transportation sector include SkyWest, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/skyw#NASDAQ">SKYW</a>) and Trinity Industries, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/trn#NYSE">TRN</a>). Each stock currently carries a Zacks Rank #2 (Buy).
SKYW flaunts a VGM Score of A and has a market capitalization of $3.28 billion. The Zacks Consensus Estimate for SKYW&#39;s 2024 earnings per share has moved up 6.9% in the past 90 days.
SKYW&#39;s expected growth rate for 2024 is more than 100%. SKYW has a trailing four-quarter earnings surprise of 128.09%, on average.&nbsp;
TRN raised 2024 earnings per share guidance to the range of $1.35 to $1.55 (which excludes items outside of the company&#39;s core business operations) from $1.30 to $1.50 guided previously.
Over the past 30 days, the Zacks Consensus Estimate for TRN&#39;s 2024 earnings has been revised 2.7% upward. For 2024, TRN&#39;s earnings are expected to grow 8.70% year over year.
<a href="https://www.zacks.com/stock/news/2296268/ryanair-ryaay-posts-impressive-june-2024-traffic-numbers?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2296268">To read this article on Zacks.com click here.</a>

RYAAY

Ryanair Posts Impressive June 2024 Traffic Numbers

SkyWest (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/skyw#NASDAQ">SKYW</a>) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock&#39;s performance in the near term.
Over the past month, shares of this regional airline have returned +11.3%, compared to the Zacks S&amp;P 500 composite&#39;s +3.4% change. During this period, the Zacks Transportation - Airline industry, which SkyWest falls in, has lost 4.8%. The key question now is: What could be the stock&#39;s future direction?
While media releases or rumors about a substantial change in a company&#39;s business prospects usually make its stock &#39;trending&#39; and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Earnings Estimate Revisions
Rather than focusing on anything else, we at Zacks prioritize evaluating the change in a company&#39;s earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors&#39; interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For the current quarter, SkyWest is expected to post earnings of $1.73 per share, indicating a change of +394.3% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.
For the current fiscal year, the consensus earnings estimate of $6.83 points to a change of +787% from the prior year. Over the last 30 days, this estimate has changed +0.2%.
For the next fiscal year, the consensus earnings estimate of $8 indicates a change of +17.2% from what SkyWest is expected to report a year ago. Over the past month, the estimate has changed +0.3%.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock&#39;s near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #2 (Buy) for SkyWest.
The chart below shows the evolution of the company&#39;s forward 12-month consensus EPS estimate:
12 Month EPS
<img alt="12-month consensus EPS estimate for SKYW _12MonthEPSChartUrl" class="chart" src="https://chart-service.zacks.com/images/weekly/yesop_12_month_eps/SKYW.png" style="height:auto; width:100%" title="" />
Revenue Growth Forecast
While earnings growth is arguably the most superior indicator of a company&#39;s financial health, nothing happens as such if a business isn&#39;t able to grow its revenues. After all, it&#39;s nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it&#39;s important to know a company&#39;s potential revenue growth.
For SkyWest, the consensus sales estimate for the current quarter of $814.4 million indicates a year-over-year change of +12.2%. For the current and next fiscal years, $3.36 billion and $3.7 billion estimates indicate +14.6% and +9.9% changes, respectively.
Last Reported Results and Surprise History
SkyWest reported revenues of $803.61 million in the last reported quarter, representing a year-over-year change of +16.2%. EPS of $1.45 for the same period compares with -$0.45 a year ago.
Compared to the Zacks Consensus Estimate of $781.19 million, the reported revenues represent a surprise of +2.87%. The EPS surprise was +16.94%.
The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates three times over this period.
Valuation
Without considering a stock&#39;s valuation, no investment decision can be efficient. In predicting a stock&#39;s future price performance, it&#39;s crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company&#39;s growth prospects.
While comparing the current values of a company&#39;s valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock&#39;s price.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
SkyWest is graded A on this front, indicating that it is trading at a discount to its peers.
<a href="https://www.zacks.com/stock/news/2294185/skywest-inc-skyw-is-attracting-investor-attention-here-is-what-you-should-know?cid=CS-BENZ-FT-tale_of_the_tape|most_searched_stocks_v1-2294185">To read this article on Zacks.com click here.</a>

SkyWest, Inc. is Attracting Investor Attention: Here is What You Should Know

For most investors, how much a stock&#39;s price changes over time is important. Not only can it impact your investment portfolio, but it can also help you compare investment results across sectors and industries.
Another thing that can drive investing is the fear of missing out, or FOMO. This particularly applies to tech giants and popular consumer-facing stocks.
What if you&#39;d invested in SkyWest (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/skyw#NASDAQ">SKYW</a>) ten years ago? It may not have been easy to hold on to SKYW for all that time, but if you did, how much would your investment be worth today?
SkyWest&#39;s Business In-Depth
With that in mind, let&#39;s take a look at SkyWest&#39;s main business drivers.
SkyWest, founded in 1972, is based in St. George, UT and operates as a regional airline in the United States through its subsidiary SkyWest Airlines. 
SkyWest is also the holding company of an aircraft leasing company. In January 2019, SkyWest completed the sale of its erstwhile subsidiary, ExpressJet Airlines, to United Airlines joint venture &mdash; ManaAir LLC.
SkyWest Airlines offers high-quality regional service to airports located primarily in the Midwestern and Western United States as well as Mexico and Canada. The carrier primarily operates from Chicago (O&#39;Hare), Denver, Houston, Los Angeles, Minneapolis, Phoenix, Salt Lake City, San Francisco and Seattle airports. 
Offering scheduled regional airline service under code-share agreements (a deal between airlines allowing them to use each other&#39;s codes on flights among other things) with its airline partners, forms the basis of the company&#39;s operating model. On a daily basis, SkyWest is responsible for operating more than 2,100 flights to multiple destinations in North America.
SkyWest provides regional operations to its major airline partners under long-term, fixed-fee, code-share agreements. The company has codeshare agreements with key airline players like Delta Air Lines (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dal#NYSE">DAL</a>), American Airlines (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aal#NASDAQ">AAL</a>), United and Alaska Airlines. 
The fixed-fee agreement with these companies obligate the respective major airline partner to refund the amount of fuel costs SkyWest incurs under those agreements. 
Under the prorate agreements with Delta, United Airlines, and American Airlines, SkyWest is liable to cover the costs including fuel expenses of operating the concerned flights. Going by historical evidence, these multiple agreements consisting of a mix of fixed-fee and prorate flying arrangements should bolster the company&#39;s operating results.
In 2023, 96.5% of the company&#39;s operating revenues of $3 billion came from flying agreements. The rest came from airport customer services and others.&nbsp; As of December 31, 2023, SKYW had a total of 485 aircraft in scheduled service or under contract (which includes 237 E175s, 41 CRJ900s, 118 CRJ700s and 89 CRJ200s in its fleet).
Bottom Line
Putting together a successful investment portfolio takes a combination of research, patience, and a little bit of risk. For SkyWest, if you bought shares a decade ago, you&#39;re likely feeling really good about your investment today.
A $1000 investment made in June 2014 would be worth $6,923.47, or a 592.35% gain, as of June 19, 2024, according to our calculations. Investors should note that this return excludes dividends but includes price increases.
In comparison, the S&amp;P 500 gained 180.38% and the price of gold went up 69.74% over the same time frame.
Looking ahead, analysts are expecting more upside for SKYW.
SkyWest&#39;s fleet-modernization efforts are commendable. In February, SKYW announced that it has acquired a 25% ownership stake in Contour Airlines, a regional carrier. The Contour deal includes an asset provisioning agreement, per which SKYW will offer CRJ airframes, engines and rotable parts to Contour. By 2026-end, SKYW is scheduled to operate 278 E175 aircraft. SKYW&#39;s shareholder-friendly approach is commendable. SKYW repurchased 10.6 million shares for $289 million in 2023. The positive sentiment surrounding the stock is evident from the fact that the Zacks Consensus Estimate for current-year earnings has been revised upwards over the past 60 days. On the flip side, rising operating expenses owing to an increase in employee compensation is likely to weigh on the company&#39;s bottom line.
The stock is up 7.08% over the past four weeks, and no earnings estimate has gone lower in the past two months, compared to 3 higher, for fiscal 2024. The consensus estimate has moved up as well.
<a href="https://www.zacks.com/stock/news/2290244/here-s-how-much-a-1000-investment-in-skywest-made-10-years-ago-would-be-worth-today?cid=CS-BENZ-FT-tale_of_the_tape|investing_$1000-2290244">To read this article on Zacks.com click here.</a>

Here's How Much a $1000 Investment in SkyWest Made 10 Years Ago Would Be Worth Today

Canadian National&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cni#NYSE">CNI</a>) efforts to reward its shareholders through dividends and buybacks despite the ongoing economic uncertainty are commendable. However, the freight market downturn is severely impacting the company&#39;s performance.
<h3>Factors Favoring CNI</h3>
Canadian National increased its quarterly dividend by 7% in January. This is the 28th consecutive year when the company announced a dividend hike.
CNI paid quarterly dividends of $0.85 per share, amounting to $540 million in the first quarter of 2024. As of Mar 31, 2024, the company repurchased 3.5 million common shares for $597 million under its current Normal Course Issuer Bid (&quot;NCIB&quot;). Canadian National may repurchase up to 32.0 million common shares between Feb 1, 2024 and Jan 31, 2025 under its current NCIB.
The stock prices of railroad operators tend to be stable, making CNI shares appealing to investors who prefer to avoid significant day-to-day volatility. With a beta of 0.90, CNI is less volatile than the overall market.
Long-haul shipments of refined petroleum products and natural gas liquids drove a 4% year-over-year increase in Petroleum and chemicals freight revenues.Revenues from the Metals and minerals, Grain and fertilizers and Automotive segments were in line with the 2023 figures.
<h3>Key Risks</h3>
Supply-chain disruptions, network fluidity challenges and a weak intermodal scenario are hurting Canadian National&#39;s performance. As a result, the Intermodal segment&#39;s revenues declined 5% year over year in the first quarter of 2024.
CNI is grappling with a freight market downturn due to excess capacity exceeding freight volumes. As a result, freight revenues (C$4.14 billion), which accounted for 97.6% of the top line, decreased by 2% year over year in the first quarter of 2024. Revenues in the Forest Products, Coal and Intermodal segments fell 3%, 16% and 5%, respectively.
Operating expenses for the first quarter of 2024 were $2.7 billion compared to $2.6 billion for the same period in 2023. The increase of $52 million, or 2%, was mainly due to higher labor and fringe benefits expenses, driven by general wage increases and a higher average headcount, partly offset by lower fuel prices.
At the end of the first quarter of 2024, CNI&#39;s&nbsp;current ratio&nbsp;(a measure of liquidity) was pegged at 0.60. A current ratio of less than 1 is not desirable as it indicates that the company may have problems meeting its short-term obligations.
A glimpse at Canadian National&#39;s price trend reveals that its shares have risen 2.4% in the past year compared with its industry&#39;s&nbsp; 2.6% appreciation.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/ab/68947.jpg?v=565414160" /> 
Image Source: Zacks Investment Research
<h3>Zacks Rank</h3>
CNI currently carries a Zacks Rank #3 (Hold).
<h3>Stocks to Consider</h3>
Some better-ranked stocks for investors&#39; consideration in the Zacks Transportation sector include SkyWest (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/skyw#NASDAQ">SKYW</a>) and Kirby Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kex#NYSE">KEX</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
SkyWest has an expected earnings growth rate of 787% for the current year.
SKYW has an impressive earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 128%. Shares of SkyWest have jumped 98.4% in the past year.
KEX has an expected earnings growth rate of 42.2% for the current year.
The company has an encouraging track record with respect to the earnings surprise, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. The average beat is 10.3%. Shares of Kirby have climbed 55.7% in the past year.
<a href="https://www.zacks.com/stock/news/2288959/here-s-why-you-should-retain-canadian-national-cni-stock?cid=CS-BENZ-FT-analyst_blog|rank_focused-2288959">To read this article on Zacks.com click here.</a>

Here's Why You Should Retain Canadian National Stock

Alaska Air Group&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/alk#NYSE">ALK</a>) robust air travel demand is boosting its top line. Shareholder-friendly actions and fleet upgrade efforts are praiseworthy. However, high operating costs are hindering the company&#39;s bottom line.
<h3>Factors Favoring ALK</h3>
Buoyed by strong air travel demand, Alaska Air issued optimistic earnings per share guidance for the second quarter of 2024 between $2.20 and $2.40 and for the full-year 2024 between $3.25 and $5.25. ALK is boosting capacity and expects available seat miles (a measure of capacity) to increase in the range of 5-7% in the second quarter of 2024 to meet the upbeat demand. Our estimate hints at an increase of 5.5%.
The company implemented an enhanced quality oversight program to validate aircraft work and quality during production. ALK&#39;s shareholder-friendly actions bode well. Resuming share buybacks last year, ALK repurchased shares worth $21 million in the first quarter of 2024.
A glimpse at the company&#39;s price trend reveals that its shares have risen 5% year to date, surpassing the&nbsp;industry&#39;s decline of 4.6%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/3b/68865.jpg?v=1757589887" /> 
Image Source: Zacks Investment Research
<h3>Key Risks</h3>
Rising fuel costs are hindering ALK&#39;s bottom line. This trend is primarily due to the ongoing production cuts adopted by major oil-producing nations and geopolitical tensions. In the first quarter of 2024, oil prices increased 16%. Expectations for the second quarter of 2024 place fuel prices between $3.00 and $3.20 per gallon. Our estimate is currently pegged at $3.08 per gallon.
The northward movement in expenses on labor is also hurting ALK&#39;s bottom line by pushing up operating costs.Total non-fuel operating expenses, excluding special items, increased 9% to $1.8 billion in the first quarter of 2024. Wages and benefits rose by $0.08 billion, or 11%, in the first quarter of 2024.
<h3>Zacks Risk</h3>
ALK currently carries a Zacks Rank #3 (Hold).
<h3>Stocks to Consider</h3>
Some better-ranked stocks for investors&#39; consideration in the Zacks Transportation&nbsp;sector include SkyWest (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/skyw#NASDAQ">SKYW</a>) and Kirby Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kex#NYSE">KEX</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
SkyWest has an expected earnings growth rate of 787% for the current year.
SKYW has an impressive earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 128%. Shares of SkyWest have jumped 102.2% in the past year.
KEX has an expected earnings growth rate of 42.2% for the current year.
The company has an encouraging track record with respect to the earnings surprise, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. The average beat is 10.3%. Shares of Kirby have climbed 59.9% in the past year.
<a href="https://www.zacks.com/stock/news/2288371/here-s-why-you-should-retain-alaska-air-alk-stock-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2288371">To read this article on Zacks.com click here.</a>

Here's Why You Should Retain Alaska Air Stock Now

Wabtec Corporation&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wab#NYSE">WAB</a>) is launching its Green Friction braking solution on the RER A line in Paris, collaborating with &Icirc;le-de-France Mobilit&eacute;s (&quot;IDFM&quot;) and RATP. Notably, RATP operates both the Paris metro and suburban trains, such as the RER lines. This innovative brake friction material will fight air pollution by significantly reducing particle emissions from train braking within the metropolitan area&#39;s tunnels and underground network.
Wabtec will deploy its Green Friction brake linings for all MI09 trains on the Paris RER A line, aiding in excess of a million daily passengers. Extensive testing with RATP and IDFM for over a year, covering a million kilometers, has confirmed its effectiveness with a 70% (up to 90%) reduction in braking emissions without impacting safety, performance, or costs significantly.
Philippe Nogues-Cubelles, vice president of friction at Wabtec, stated, &quot;Particulate matter emissions from train braking are a worldwide challenge, Green Friction tackles the source of the fine particle problem. Today, Wabtec is the only company in the rail industry offering operational, rapidly deployable and cost-effective equipment to reduce pollution levels linked to braking.&quot;
<div class="chart_embed">
<h3>Westinghouse Air Brake Technologies Corporation Price</h3>
<img alt="Westinghouse Air Brake Technologies Corporation Price" src="https://staticx-tuner.zacks.com/images/charts/ec/1718200806.png" style="height:254px; width:543px" title="" />
Westinghouse Air Brake Technologies Corporation price | Westinghouse Air Brake Technologies Corporation Quote
</div>
Wabtec leveraged its expertise in friction materials and made significant investments in measuring braking emissions to develop Green Friction, a unique range of materials designed to eliminate fine particles during braking. Developed in 2019, the Green Friction product portfolio targets meeting current and future air pollution and friction performance regulations.
Metro networks across France, Europe and Asia are lining up to adopt Wabtec&#39;s innovative Green Friction technology for their fleets.
<h3>Zacks Rank</h3>
WAB currently sports a Zack Rank #1 (Strong Buy).
<h3>Other Stocks to Consider</h3>
Some other top-ranked stocks for investors&#39; consideration in the Zacks Transportation sector include SkyWest (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/skyw#NASDAQ">SKYW</a>) and Kirby Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kex#NYSE">KEX</a>), each flaunting a Zacks Rank #1 at present.
SkyWest has an expected earnings growth rate of 787% for the current year.
SKYW has an impressive earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 128%. Shares of SkyWest have jumped 59.4% in the past year.
KEX has an expected earnings growth rate of 42.2% for the current year.&nbsp;
The company has an encouraging track record with respect to earnings surprise, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. The average beat is 10.3%. Shares of Kirby have climbed 57.8% in the past year.
<a href="https://www.zacks.com/stock/news/2287395/wabtec-s-wab-technology-to-boost-paris-rail-operations?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2287395">To read this article on Zacks.com click here.</a>

Wabtec's Technology to Boost Paris' Rail Operations

The Nasdaq 100 closed higher by more than 100 points on Tuesday. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">General Motors</h3>
<ul>
<li>The Trade: General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) President Mark L Reuss <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 50,000 shares</a> at an average price of $46.24. The insider received around $2.3 million from selling those shares.</li>
<li>What's Happening: In a press release, the company said it approved a new share repurchase authorization to repurchase up to $6 billion of its outstanding common stock.</li>
<li>What General Motors Does: General Motors Co. emerged from the bankruptcy of General Motors Corp. (old GM) in July 2009. GM has eight brands and operates under four segments: GM North America, GM International, Cruise, and GM Financial.</li>
</ul>
Have a look at our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<h3 class="wp-block-heading">SkyWest</h3>
<ul>
<li>The Trade: SkyWest, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYW#NASDAQ">SKYW</a>) Director James L Welch <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 7,605 shares</a> at an average price of $78.68. The insider received around $598,361 from selling those shares.</li>
<li>What's Happening: On June 4, TD Cowen analyst Helane Becker maintained SkyWest with a Buy and raised the price target from $85 to $95.</li>
<li>What SkyWest Does: SkyWest Inc offers commercial air services in the United States, Canada, Mexico, and the Caribbean.</li>
</ul>
<h3 class="wp-block-heading">Toll Brothers</h3>
<ul>
<li>The Trade: Toll Brothers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) CFO Martin P. Connor <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 16,194 shares</a> at an average price of $ $118.74. The insider received around $1.92 million from selling those shares.</li>
<li>What's Happening: On June 6, Argus Research analyst Chris Graja maintained Toll Brothers with a Buy and raised the price target from $135 to $140.</li>
<li>What Toll Brothers Does: Toll Brothers is the leading luxury homebuilder in the United States with an average sale price well above public competitors.</li>
</ul>
<h3 class="wp-block-heading">Paycom Software</h3>
<ul>
<li>The Trade: Paycom Software, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAYC#NYSE">PAYC</a>) Director, CEO, President and Chairman Chad R. Richison s<a href="https://www.benzinga.com/sec/insider-trades/">old a total of 3,900 shares</a> at an average price of $144.42. The insider received around $563,250 from selling those shares.</li>
<li>What's Happening: On May 31, Paycom Software announced significant leadership changes. Randy Peck, a 20-year Paycom veteran, has been appointed as the new Chief Operating Officer (COO). Concurrently, Matt Paque has been promoted to Chief Legal Officer (CLO).</li>
<li>What Paycom Software Does: Paycom is a fast-growing provider of payroll and human capital management software primarily targeting clients with 50-10,000 employees in the United States.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/06/39269583/top-4-health-care-stocks-that-may-keep-you-up-at-night-this-month">Top 4 Health Care Stocks That May Keep You Up At Night This Month</a>

Insider Trades

PAYC

General Motors, Toll Brothers And 2 Other Stocks Insiders Are Selling

On June 4, a recent SEC filing unveiled that Eric Woodward, Chief Accounting Officer at SkyWest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYW#NASDAQ">SKYW</a>) made an insider sell.
What Happened: Woodward's recent Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000793733/000141588924015446//Archives/edgar/data/793733/000141588924015446/0001415889-24-015446-index.htm">U.S. Securities and Exchange Commission</a> on Tuesday unveiled the sale of 5,000 shares of SkyWest. The total transaction value is $402,800.
The latest update on Wednesday morning shows SkyWest shares up by 1.83%, trading at $80.07.
<h3>Unveiling the Story Behind SkyWest</h3>
SkyWest Inc offers commercial air services in the United States, Canada, Mexico, and the Caribbean. Additionally, it leases aircraft to capable users to help generate revenue. Generally, SkyWest provides regional flights, and utilizes its smaller, lower-cost aircraft to carry passengers that booked tickets through airlines. It partners with carriers across the world to fly and operate aircraft for a fee. SkyWest may use the carriers brand and ground support to coordinate marketing and easily transport passengers. The company has two reportable segments: SkyWest Airlines and SkyWest Leasing.
<h3>Unraveling the Financial Story of SkyWest</h3>
Revenue Growth: SkyWest's revenue growth over a period of 3 months has been noteworthy. As of 31 March, 2024, the company achieved a revenue growth rate of approximately 16.16%. This indicates a substantial increase in the company's top-line earnings. When compared to others in the Industrials sector, the company excelled with a growth rate higher than the average among peers.
Analyzing Profitability Metrics:
<ul>
<li>
Gross Margin: Achieving a high gross margin of 20.91%, the company performs well in terms of cost management and profitability within its sector.
</li>
<li>
Earnings per Share (EPS): SkyWest's EPS is a standout, portraying a positive bottom-line trend that exceeds the industry average with a current EPS of 1.5.
</li>
</ul>
Debt Management: With a below-average debt-to-equity ratio of 1.38, SkyWest adopts a prudent financial strategy, indicating a balanced approach to debt management.
In-Depth Valuation Examination:
<ul>
<li>
Price to Earnings (P/E) Ratio: SkyWest's current Price to Earnings (P/E) ratio of 29.45 is higher than the industry average, indicating that the stock may be overvalued according to market sentiment.
</li>
<li>
Price to Sales (P/S) Ratio: A higher-than-average P/S ratio of 1.1 suggests overvaluation in the eyes of investors, considering sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): With an impressive EV/EBITDA ratio of 19.46, SkyWest demonstrates exemplary market valuation, surpassing industry averages.
</li>
</ul>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
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<h3>The Impact of Insider Transactions on Investments</h3>
Insightful as they may be, insider transactions should be considered alongside a thorough examination of other investment criteria.
Considering the legal perspective, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, according to Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are mandated to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
Pointing towards optimism, a company insider's new purchase signals their positive anticipation for the stock to rise.
Nevertheless, insider sells may not necessarily indicate a bearish view and can be influenced by various factors.
<h3>Understanding Crucial Transaction Codes</h3>
In the domain of transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> frequently turn their focus to those taking place in the open market, as meticulously outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000793733">Check Out The Full List Of SkyWest's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

SkyWest Insider Trades Send A Signal

Airlines are expected to benefit from lower jet fuel prices to different degrees

28 Top rated U.S. growth stocks month-to-date in anticipation of Fed cuts

The travel sector shows promise due to rising demand for air travel and hospitality, robust spending growth, competitive pricing, and enhanced guest experiences, fueling optimism for future tourism expansion. Ahead of the next tourism boom, it could be wise to consider investing in strong travel stocks: SkyWest (SKYW), Travel + Leisure (TNL), and Tripadvisor (TRIP). Read more... The travel industry is set for significant growth, driven by rising demand for air travel, hospitality services, and travel products, as well as the increasing need for online travel platforms. The next tourism surge is expected during the holiday season, particularly around Thanksgiving, Christmas, and New Year's.
Therefore, investors may want to consider strong travel stocks like SkyWest, Inc. (<a href="https://stocknews.com/stock/SKYW/">SKYW</a>), Travel + Leisure Co. (<a href="https://stocknews.com/stock/TNL/">TNL</a>), and Tripadvisor, Inc. (<a href="https://stocknews.com/stock/TRIP/">TRIP</a>) ahead of this boom.
The <a href="https://www.reuters.com/world/us/us-travelers-set-end-summer-high-note-with-record-labor-day-air-travel-2024-08-28/">summer travel season</a> saw strong passenger volumes, with the TSA screening an average of 2.70 million travelers daily since Memorial Day. The next opportunity for lower travel prices arrives in <a href="https://www.cnbc.com/2024/09/14/when-to-book-your-holiday-travel-and-flights-in-2024.html">early October</a>, just before holiday flights peak. Global travel spending is projected to surpass <a href="https://www.forrester.com/blogs/travel-spending-on-track-to-return-to-pre-pandemic-levels-by-end-of-2024/#:~:text=Global%20travel%20spending%20is%20roaring,Europe%20will%20power%20this%20growth.">$2 trillion</a> by the end of 2024, fueled by robust leisure travel in North America, and Europe, and rising demand in Asia-Pacific.
Meanwhile, the travel sector is gaining momentum, boosted by high-speed internet that enables seamless connections to flight, hotel, and dining platforms. Looking ahead, ACI projects global passenger volume to reach <a href="https://aci.aero/2024/09/18/the-trusted-source-for-air-travel-demand-updates-2/#:~:text=Passenger%20traffic%202023%E2%80%932024&amp;text=The%20current%20projection%20for%202024,(YoY)%20growth%20from%202023.">9.50 billion in 2024</a>, reflecting a 10% year-on-year growth from 2023, underscoring the optimism surrounding air travel's continued recovery.
Furthermore, as the season approaches, hotels are focusing on competitive pricing and enhancing guest experiences with perks like room upgrades, complimentary breakfasts, and loyalty discounts. The U.S. hotel market is projected to grow to $110.60 billion by 2024, with a <a href="https://www.statista.com/outlook/mmo/travel-tourism/hotels/united-states">3.8% CAGR</a> expected through 2029, reaching $133.30 billion and further boosting the tourism sector.
Considering these conducive trends, let's analyze the fundamental aspects of the three travel picks.
SkyWest, Inc. (<a href="https://stocknews.com/stock/SKYW/">SKYW</a>)
SKYW and its subsidiaries engage in the operation of a regional airline in the United States. It operates through two segments, SkyWest Airlines and SWC, as well as SkyWest Leasing. The company also leases regional jet aircraft and spare engines to third parties and provides on-demand charter, airport customer, and ground handling services.
In terms of the trailing-12-month EBITDA margin, SKYW's 21.41% is 54.3% higher than the 13.88% industry average. Its 7.51% trailing-12-month Capex / Sales is 157.4% higher than the industry average of 2.92%. Also, SKYW's 13.05% trailing-12-month <a href="https://www.investopedia.com/terms/l/levered-free-cash-flow.asp">levered FCF margin</a> is 103.2% higher than the industry average of 6.42%.
During the fiscal second quarter that ended June 30, 2024, SKYW's total operating revenues increased 19.5% year-over-year to $867.12 million. Its operating income was $119.64 million, up 275.5% from the prior year's quarter. Moreover, the company's net income and EPS rose 390.2% and 420% year-over-year, respectively, to $75.58 million and $1.82.
For the quarter ending September 30, 2024, SKYW's revenue is expected to increase 16.5% year-over-year to $892.62 million. Its EPS for the same quarter is expected to increase 255.2% year-over-year to $1.95. It surpassed consensus EPS estimates in each of the trailing four quarters. SKYW's stock has gained 99.4% over the past year to close the last trading session at $83.59.
SKYW's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect strong prospects. It has an overall rating of B, translating to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
It has an A grade for Growth and a B for Quality. It is ranked #5 out of 26 stocks in the <a href="https://stocknews.com/category/airlines/">Airlines</a> industry. Beyond what we stated above, we have also rated SKYW for Value, Momentum, Stability, and Sentiment. Get all ratings of SKYW <a href="https://stocknews.com/stock/SKYW/">here</a>.
Travel + Leisure Co. (<a href="https://stocknews.com/stock/TNL/">TNL</a>)
TNL and its subsidiaries provide hospitality services and travel products in the United States and internationally. The company operates through two segments: Vacation Ownership and Travel and Membership.
In terms of the trailing-12-month net income margin, TNL's 11.36% is 148.4% higher than the 4.57% industry average. Likewise, its 19.71% trailing-12-month EBIT margin is 150.5% higher than the 7.87% industry average. Moreover, its 6.48% trailing-12-month Return on Total Assets is 57.5% higher than the industry average of 4.12%.
TNL's net revenues for the second quarter that ended June 30, 2024, increased 3.8% year-over-year to $985 million. Similarly, its adjusted EBITDA grew 3.4% from the year-ago value to $244 million. The company's adjusted net income and adjusted EPS came in at $108 million and $1.52, respectively, up 8% and 14.3% over the prior-year quarter.
Street expects TNL's revenue for the quarter ending September 30, 2024, to increase 2.5% year-over-year to $1.01 billion. Its EPS for the quarter ending March 31, 2025, is expected to rise 14.9% year-over-year to $1.11. It surpassed the Street EPS estimates in each of the trailing four quarters. Over the past year, the stock has gained 25.6%, closing the last trading session at $45.91.
It's no surprise that TNL has an overall rating of B, which translates to a Buy in our proprietary POWR Ratings system.
TNL has a B grade for Value and Quality. Within the <a href="https://stocknews.com/category/travel-hotels-resorts/">Travel - Hotels/Resorts</a> industry, it is ranked #5 out of 20 stocks. To access the other ratings of TNL for Growth, Momentum, Stability, and Sentiment, <a href="https://stocknews.com/stock/TNL/">click here</a>.
Tripadvisor, Inc. (<a href="https://stocknews.com/stock/TRIP/">TRIP</a>)
TRIP operates as an online travel company and primarily engages in providing travel guidance products and services worldwide. The company operates through three segments: Brand Tripadvisor, Viator, and TheFork.
In terms of the trailing-12-month gross profit margin, TRIP's 91.18% is 78.5% higher than the 51.09% industry average. Its 0.66x asset turnover ratio is 32.2% higher than the 0.50x industry average. Also, its 12.95% trailing-12-month levered FCF margin is 62.1% higher than the industry average of 7.99%.
For the second fourth quarter that ended June 30, 2024, TRIP's revenue rose marginally year-over-year to $497 million. Its adjusted EBITDA stood at $97 million, up 7.8% year-over-year. For the same quarter, its non-GAAP net income and non-GAAP earnings per share as adjusted increased 16.3% and 14.7% over the prior-year quarter to $57 million and $0.39, respectively.
Analysts expect TRIP's revenue for the quarter ending December 31, 2024, to increase 1.9% year-over-year to $397.53 million. Its EPS for fiscal 2025 is expected to grow 16.9% year-over-year to $1.41. It surpassed the Street EPS estimates in each of the trailing four quarters. Over the past month, TRIP's stock has gained 1.6% to close the last trading session at $14.83.
TRIP's POWR Ratings reflect a bright outlook. It has an overall rating of B, translating to a Buy in our proprietary rating system.
It has an A grade for Quality and a B for Value. It is ranked #15 out of 52 stocks in the B-rated <a href="https://stocknews.com/category/internet/">Internet</a> industry. To see TRIP's Growth, Momentum, Stability, and Sentiment ratings, <a href="https://stocknews.com/stock/TRIP/">click here</a>.
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SKYW shares were trading at $82.62 per share on Wednesday afternoon, down $0.97 (-1.16%). Year-to-date, SKYW has gained 58.28%, versus a 21.06% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Abhishek Bhuyan</h2> <img src='https:/wp-content/uploads/2023/07/ABhuyan.jpg' style="float:left; padding:5px;width:125px;">Abhishek embarked on his professional journey as a financial journalist due to his keen interest in discerning the fundamental factors that influence the future performance of financial instruments.<a href="https://stocknews.com/authors/?author=abhishek-bhuyan">More...</a>The post <a href=https://stocknews.com/news/skyw-tnl-trip-3-travel-stocks-to-buy-before-the-next-tourism-boom/>3 Travel Stocks to Buy Before the Next Tourism Boom</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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