Delta Pulls a Profit, BHP Reports Strong Iron Production, and 3 More Hot Stocks
Delta Air Lines (NYSE:DAL): Delta has reported earnings per share of $1.41, beating projections by 5 cents, as net income weighed in at $1.4 billion. Delta paid out $100 million in share repurchases and another $51 million in dividend payments during the period; passenger revenue grew by 6.7 percent, compared to the prior-year quarter, while passenger unit revenue (PRASM) rose 4 percent over last year, with a 4.5 percent improvement in yield.
BHP Billiton (NYSE:BHP): BHP Billiton shares are up as the miner reported a 23 percent rise in iron ore output, leading gains that also saw a 6 percent increase in copper, a 2 percent increase in petroleum, and a 15 percent increase in aluminum. Manganese ore was the standalone segment that didn’t experience growth, falling 5 percent. BHP Billiton has raised its 2014 output estimates to 212 million metric tons of iron ore, up from a previous target of 207 million.
Lockheed Martin (NYSE:LMT): Shares of Lockheed Martin are up over 3 percent as the company reports EPS of $2.57, beating estimates by 30 cents. Revenue of $11.35 billion also beat, by $0.2 billion, despite Aeronautics falling 1.7 percent, Information Systems & Global Solutions sliding 10 percent, Mission Systems and Training dropping 8.8 percent, and Space Systems slumping 5.3 percent. Missiles and Fire Control picked up, gaining 2.6 percent over the same quarter last year. For 2013, Lockheed Martin sees revenue of $45 billion (the previous guidance said $44.5 billion to $46 billion) and EPS of $9.40 to $9.70 (with a previous guidance of $9.20 to $9.50).
Goldman Sachs Group (NYSE:GS): Goldman Sachs (along with Perry Capital) is cutting its stake in the German property firm LEG Immobilien after the latter launched its IPO earlier this year. Goldman will be selling a block of shares worth 289 million euros; it is the first sale by the major shareholders since the company went public.
Berkshire Hathaway (NYSE:BRKA): Berkshire has reduced its holding in the U.K.’s Tesco retailer, shedding its stake by $485 million, just a couple of weeks after the retailer reported softer-than-expected results. Berkshire Hathaway’s stake now sits at 3.98 percent, down from 4.98 percent; it originally bought into the company in 2006.