Diamonds and Dogs

4/13/23

DraftKings (DKNG) creeps higher on upgrades. The betting website is up 3% today and up over 50% year to date as the company fundamentals slowly improve. JMP Securities analyst Jordan Bender reiterated a Buy rating on DraftKings with a price target of $26.00. Argus Research's John Eade upgraded DraftKings to a Hold with a $17 price target. DraftKings has announced a DK Horse app in 12 states with additional launches expected ahead of the Kentucky Derby on May 6 2023.

Delta Air Lines (DAL) is lower by a percent as the company reported a first-quarter loss, but said strong summer bookings are expected to boost profits in the coming months. Delta reported a net loss of $363 million during the first three months of the year. On an adjusted basis, excluding what Delta said were one-time costs associated with a new pilot contract and other items.