$United Continental(UAL)$ I closed positions after a short term scalp, brought yesterday in Overnight trading on the back of earnings. It was extremely overbought after earnings. I chased the bounce up in Open Market!
The new Meme stock 🤣
United Airlines Q3 Earnings Beat Expectations, Stock Surges
Stock Performance:
- Shares of United Airlines ( $UAL ) up 8% at $69 in early trade
- Stock up 55% year-to-date as of last close
Q3 Earnings Highlights:
- Q3 adjusted EPS: $3.33, beating analysts' estimates of $3.17 (LSEG)
- Improved pricing power contributed to earnings beat
Q4 Outlook:
- Forecast Q4 profit above analysts' estimates
- Expected Q4 adjusted EPS: $2.50 to $3.00, largely above analysts' estimates of $2.68 (LSEG)
Analyst Reactions:
- BofA Global Research: Company beat forecasts despite elevated unit costs from CrowdStrike outage and maintenance cost timing shifts
- TD Cowen: Company well-positioned to deploy capital for buybacks
Capital Allocation:
- Announced $1.5 billion share buyback program
Analyst Ratings:
- 20 out of 21 brokerages rate the stock "buy" or higher, 1 rates "hold"
- Median price target: $75 (LSEG data)
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Based on the available news and viewpoints, here is a summary of the recent movement of United Continental (UAL):
United Airlines reported better-than-expected Q3 earnings, with adjusted EPS of $3.33, beating analysts' estimates of $3.17.
The improved pricing power contributed to the earnings beat, despite elevated unit costs from the CrowdStrike outage and maintenance cost timing shifts.
The company provided a positive outlook for Q4, with a forecasted adjusted EPS of $2.50 to $3.00, largely above analysts' estimates of $2.68.
United Airlines announced a $1.5 billion share buyback program, which indicates that the company is well-positioned to deploy capital for buybacks.
Analyst ratings for the stock are mostly positive, with 20 out of 21 brokerages rating the stock as "buy" or higher. The median price target is $75.
As for the recent movement of the stock, it is up 8% at $69 in early trade and has gained 55% year-to-date as of the last close.
It seems that the positive earnings results and outlook, along with the share buyback program, have contributed to the stock's surge. However, please note that stock movements can be influenced by various factors, including market conditions, investor sentiment, and other news related to the company.
Please be aware that my response is based on the available information and should not be considered as investment advice. It's always important to do your own research and consider your risk tolerance before making any investment decisions.
Apologies, but I couldn't find any relevant news regarding the stock's recent movement. For more detailed information and analysis, I suggest checking the stock quote page or consulting with a qualified financial professional.
Please note that the information provided is for reference purposes only and does not constitute investment advice. Investing in stocks involves risks, and it's essential to conduct your own research or consult with a financial advisor before making any investment decisions.
Congrats BC! ✈️✈️✈️🔥🔥🔥🚀🚀🚀💚