Delta Air Lines stock up after reporting strong Q3 revenue

Shares of Delta Air Lines are moving higher after the the company reported record revenue in its third quarter

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- All right, my pick today is Delta, the stock jumping after reporting a profit, $695 million for the third quarter, higher fares helping to offset those rising jet fuel prices. Now, the carrier also offered upbeat fourth quarter guidance, noting a resurgence in corporate travel and signs of a big holiday rush as two of those driving factors.

Now, CEO Ed Bastian telling Yahoo Finance earlier that he doesn't see consumers pulling back on spending in terms of travel because of inflation. Rather, he says that they are, quote, "prioritizing investing in themselves, experiences, and services, rather than buying things." Despite the near term positive momentum, though, Raymond James did caution that the lack of detailed 2023 guidance is, quote, "unlikely to assuage any investor cost concerns amid labor, fuel, and broader macro concerns."

Dave, when you take a look at the numbers initially looking very positive here for Delta, I thought that that point from Raymond James was pretty important here, as we go into this uncertain time, a potential pullback here in 2023, too much uncertainty to give that detailed guidance. It does make you, I guess, wonder a bit.

- There's just no pullback in sight. We also saw in the inflation print today, up 8%, airfares month to month and up 43% year over year, when you combine the inflation report with the Delta earnings, and they're showing no demand destruction. I don't know, man. This is a lot like Pepsi. We just don't see people stopping traveling, stopping buying some of these consumer staples. The airfares, United was up on this. JetBlue was up on this. American was up on this, all 3 plus percent on the day, so good news for the entire sector.