SNCY - Delta earnings tip off potential boom in summer travel
The travel and leisure sector got a jolt early on Wednesday when Delta Air Lines (NYSE:DAL +5.4%) disclosed that its had the highest bookings ever over a five-week period. That has investors looking at a summer travel trade across multiple discretionary categories. Airline stocks that broke higher included American Airlines Group (NASDAQ:AAL +9.7%), Southwest Airlines (NYSE:LUV +6.6%), Allegiant Travel Company (NASDAQ:ALGT +5.3%), United Airline (NASDAQ:UAL +4.8%) and Sun Country Airlines (SNCY +5.7%). Lodging stocks Hyatt Hotels (H +3.4%), Marriott International (MAR +3.5%), Marriott Vacations Worldwide (VAC +2.0%) and Hilton Worldwide (HLT +2.4%) also gained. Casino stocks Caesars Entertainment (CZR +3.5%) and MGM Resorts (MGM +2.4%) rallied, while incrementally better COVID news from Shanghai also helped push Las Vegas Sands (LVS +2.9%) up. In the theme park sector, SeaWorld Entertainment (SEAS +5.1%) pushed higher following a price target boost from Stifel and Six Flags Entertainment (SIX +2.2%) was also in positive
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Delta earnings tip off potential boom in summer travel