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Delta cruises to all-time high

April 23, 2014: 12:22 PM ET

Delta stock shot up to a record high after an impressive earnings report.

The winter blues didn't get Delta down.

Shares of the airline soared to a record high Wednesday after the company reported a 5% increase in passenger revenue in the first quarter despite a $90 million loss related to weather cancellations.

The unusually severe winter weather was expected to cause more headaches for Delta, like it did for legions of passengers. The company said it cancelled more than 17,000 flights in January and February for weather reasons, twice as many as the same period in 2013.

But Delta, like other airlines, benefited from healthy demand in the U.S., said Joseph DeNardi, an airlines analyst with Stifel Nicolaus. And some of its hubs didn't get hit as hard by the weather as those of its competitors.

Delta's earnings come on the heels of an already remarkable turnaround run. The stock has skyrocketed 118% in the past year, lifted by higher fares, good relationships with airline unions, and overall consolidation in the industry.

Related: Delta takes off

"They did a great job, they delivered a great product, and they're getting paid for it," said Helane Becker of Cowen and Company.

Delta shares traded for less than $10 for much of 2012. They're now above $36.

As for Delta's high-flying stock price , Becker said she's not surprised. She predicts it will climb even higher.

"People forget how much money airlines can make," she said.

  • Harley-Davidson stock is as hot as the bikes

    America's most iconic motorcycle brand is revving its engines -- and profits.

    Harley-Davidson (HOG) shareholders are loving it.

    Shares spiked 7% Tuesday after the Milwaukee, Wisconsin-based hog maker reported a 19% jump in first quarter profit.

    The growth was driven by what Harley-Davidson does best...selling big, powerful motorbikes.

    "They're producing some of the best motorcycles they've ever produced," said Gerrick Johnson, an analyst with BMO Capital Markets in New York. "The brand is resonating."

    Johnson said the company has MORE

    - Apr 22, 2014 2:07 PM ET
  • Manchester United: Losing games and money

    By Mark Thompson, CNNMoney International Editor

    Manchester United have sacked their coach after a disastrous season, which means they'll miss out on Europe's lucrative Champions League next season.

    David Moyes was appointed less than a year ago, when the club's most successful manager -- Alex Ferguson -- retired after 26 years.

    Under Ferguson, the team had won the richest national soccer league for 13 of the last 21 years, and used the steady MORE

    - Apr 22, 2014 12:40 PM ET
  • Pope Francis challenges the free market

    Pope Francis was not as overt in calling out the greedy in his 2014 Easter message as he was last year.

    He focused mainly on calls for peace and an end to pressing conflicts in Syria, Ukraine and elsewhere. But even this year, he wove in some commentary on the world economy.

    "Help us to overcome the scourge of hunger, aggravated by conflicts and by the immense wastefulness for which we are MORE

    - Apr 19, 2014 10:21 AM ET
  • Wall Street's spring break reading list

    Spring break means different things to different people.

    For kids, it's the Easter Bunny. For college students, a Mexican booze cruise.

    But for many overworked Wall Streeters, it may just be a good book.

    "I'm sitting here reading about finance 12 hours a day, so that's the last thing I want to pick up when I go home," said David Lutz, head of exchange traded fund trading at Stifel Nicolaus in Baltimore, Maryland.

    About three years ago, Lutz was MORE

    - Apr 18, 2014 7:00 AM ET
  • Chipotle's 'Burrito boom' continues, but prices are going up

    The burrito business is booming, but rising commodities prices are taking a bigger bite.

    Chipotle Mexican Grill (CMG) is proving to be one of the best at bringing Tex-Mex to the masses.

    The fast food restaurant chain earned $83.1 million, or $2.64 per share, in the first quarter.

    That fell short of analysts' expectations, but the restaurant touted its strong sales. Even the winter weather didn't hurt demand for burritos and tacos.

    Chipotle shares MORE

    - Apr 17, 2014 9:40 AM ET
  • Markets dig Janet Yellen's 'loose language'

    The scene at the Economic Club of New York meeting today had the feel of a rock concert, but instead of T-shirts and sneakers, it was blue pin-stripes and brown wing-tips.

    The mood in the lobby outside the room at the Marriott Marquis where Janet Yellen would speak seemed downright giddy.

    Blackstone Chairman & CEO Steve Schwarzman was smiling and shaking hands with old friends.

    The grin on Former SEC Chief William Donaldson's MORE

    - Apr 16, 2014 2:07 PM ET
  • Is Tesla's downshift for real?

    The break lights are finally coming on for investors' favorite auto stock.

    Shares of Tesla Motors (TSLA) fell over 2% Tuesday after reports surfaced that Arizona failed to pass a bill to allow the company to sell cars directly to consumers.

    It marks the fourth straight day of losses for Tesla's stock.

    It's unclear what effect the Arizona bill actually had today. The automaker has long sought to bypass dealerships because it says MORE

    - Apr 15, 2014 3:49 PM ET
  • Tweet this: Twitter insiders aren't cashing out yet

    Twitter's founding fathers became billionaires on paper when the social media company went public in November.

    But Jack Dorsey and Evan Williams say they have no immediate plans to turn those paper gains in to cold, hard cash once they have the opportunity in May.

    Under federal securities law, company insiders must wait six months before selling any shares following an initial public offering.

    The so-called "lock up period" is designed to discourage MORE

    - Apr 14, 2014 12:01 PM ET
  • ETrade's new ad campaign: worse than the baby?

    Apparently, babies do get old.

    ETrade (ETFC) recently retired its long-running ad campaign featuring a talking baby boy telling people how easy it is to invest.

    The company's official line is that the child star quit.

    There's even a web site marking the milestone, babyquits.com, which redirects you to a Facebook page showing an out of office sign on the baby's crib.

    Over the years, the baby, who was never given an official name, MORE

    - Apr 12, 2014 1:00 PM ET
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