From Dow Jones & Company:

Delta Airlines Inc. reported a fourth-quarter beat with its results, but shares dropped 5.6% after lower earnings guidance. Delta said it expects March quarter unit revenues to be flat to down 3 percent over 2023. The company expects 2024 earnings of $6 to $7 a share, below its target of over $7 a share outlined in December 2022. Delta also announced it was ordering 20 Airbus A350-1000 aircraft for its long-distance fleet. This news caused shares of American Airlines, United Airlines, and JetBlue Airways to fall. Alaska Air Group, dealing with the fallout from an incident with a 737-9 Max plane, also saw shares drop. The U.S. Global Jets ETF is also down 2.8% in premarket trades.



Read more: Airline stocks slide after Delta lowers 2024 earnings guidance