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United Airlines earnings results
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United Airlines falls on mixed Q2 numbers and lowered full-year outlook

You might want to buckle your safety belt.

United Airlines shares fell 1.5% in after-hours trading Wednesday, after the second-largest US airline topped Q2 earnings estimates but fell short on revenue and slashed its full-year guidance.

The company posted adjusted Q2 earnings per share of $3.87, beating forecasts for $3.81. Quarterly revenue came in at $15.2 billion, below the FactSet consensus view for $15.36 billion. Importantly, United Airlines lowered its previous full-year EPS guidance of between $11.50 and $13.50 to a new range of $9.00 to $11.00. (It had also given a “recessionary environment” guidance last quarter of $7.00 to $9.00.)

United had been one of the hardest-hit companies in an airline sector that got battered early in the year as investors weighed the impact of trade uncertainty on consumer sentiment. As of early April, the stock was down more than 40% for the year. But the economy has proven resilient, and airline stocks have rallied significantly. United was down about 9% on the year before this afternoon’s report.

The company has even been able to fly past turmoil related to the short-staffing of air traffic controllers at its Newark hub in May.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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