Shares of the big four airlines take off on news of 90-day tariff pause

Delta, American, United, and Southwest all surged following President Trump’s announcement.

4/9/25 1:44PM

Well that was quick. Shares of the big four US airlines all surged by double digits following the news that the White House will slash reciprocal tariffs for 90 days.

Since the announcement dropped at 1:18 p.m. ET, Delta Air Lines, United Airlines, and American Airlines shares are all up over 20%, and Southwest Airlines has risen over 16%. For Delta, which is up more than 24% as of 2:40 p.m. ET, it marks the biggest daily stock price jump since July 16, 2008, when it was up 26.6%, according to FactSet.

From the market close yesterday, the four carriers have clawed back more than $13 billion in market cap.

Earlier on Wednesday, Delta’s CEO warned that the US could be headed for a recession thanks to uncertainty around trade policy. The airline, which reported earnings today, pulled its full-year guidance; in January, it had said 2025 was shaping up to be its best fiscal year in a century.

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eBay stock slumps on gloomy Q4 outlook despite solid Q3 earnings

Shares of eBay fell as much as 10.5% in premarket trading on Thursday morning after the company gave a lower-than-expected profit forecast for the important holiday shopping season.

The e-commerce giant reported solid numbers for the third quarter on Wednesday, with revenue up 9% as reported to $2.8 billion and gross merchandise volume rising 10% to $20.1 billion, topping the average analyst forecast of $19.4 billion, per Bloomberg.

However, concerns about the future somewhat overshadowed these results.

eBay outlined its profit outlook for the period ending in December to $1.31 to $1.36 a share, with revenue at $2.83 billion to $2.89 billion. According to Bloomberg-compiled data, this broadly matches Wall Street’s estimates for the top line, but misses on the bottom line, with analysts forecasting EPS to come in at $1.39 — suggesting the company expects some further margin pressure.

The company has been facing macroeconomic challenges since the US ended the de minimis tariff exemption in late August, with the online marketplace reliant on shipments. One small silver lining? CFO Peggy Alford highlighted a “less durable trend” on a post-earnings call: that as commodity prices for precious metals boomed, demand for bullion and collectible coins on eBay spiked.