Diamonds and Dogs

10/16/24

The airlines are getting a lift as United Airlines (UAL) beats estimates as sales rose 2.4% to $14.84 billion. United was able to dodge a number of problems in the industry with plenty of Boeing planes limiting the impact of the strike while Delta had issues during the summer with software outages. United reiterated guidance and expects earnings to improve as a glut of cheap flights subside.

Tech rebounding except for semiconductor equipment makers. ASML (ASML) is down 6% after dropping 16% yesterday on negative preannouncement. The rest of the sector is lower as well like Applied Materials (AMAT), Lam Research (LRCX) and KLA Tencor (KLAC) all down 3%. Chip space is faring much better.

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