UAL - 6 stocks to watch on Tuesday: United Airlines gig economy stocks and more

2023-03-14 07:50:55 ET

Wall Street trading will center around the latest consumer price data on Tuesday, as investors gauge what the Federal Reserve is likely to do at its next policy meeting. The recent high-profile failures in the banking industry have moderated expectations for the central bank's next move, with some betting that the Fed will now pause its rate increases. Here are some stocks to watch on Tuesday:

• United Airlines ( NASDAQ: UAL ) lost ground in premarket trading, dropping 5% after issuing a disappointing Q1 forecast . The company predicted a Q1 adjusted loss of $0.60 to $1.00 per share. This came as the airline will recognize expenses related to a collective bargaining agreement with its pilots' union, which it previously had expected to accrue in Q2.
• Delta Air Lines ( DAL ) reaffirmed its Q1 outlook , saying it expects revenue growth of between 14% and 17% compared to pre-COVID times in 2019. The firm projected EPS of $0.15-$0.40 for the quarter. The reiterated forecast came ahead of DAL's appearance at the J.P. Morgan Industrials Conference.
• Honeywell ( HON ) revealed that it has named company veteran Vimal Kapur as its next CEO , succeeding Darius Adamczyk. The transition is slated to become effective on June 1, with Adamczyk continuing to serve as executive chairman.
• A ruling in a California appeals court is giving a boost to gig-economy stalwarts Uber ( UBER ), Lyft ( LYFT ) and DASH ( DASH ). The court determined that the companies can continue to classify their drivers as independent contractors rather than employees. DASH jumped 7% in premarket trading, with UBER and LYFT advancing about 6%.

Bank stocks will also remain a focus on Tuesday, as Wall Street continues to deal with the fallout of recent failures in the industry. See why Seeking Alpha contributor Harry Mamaysky believes the Silicon Valley Bank failure is likely to be contained .

For further details see: