A series of updates in the airline sector spotlight Southwest Airlines Co. (LUV) . Reports indicate a decrease in Provident Trust Co.'s stake in the company, and a purchase of 5,000 shares by Olstein Capital Management L.P. Amidst investor pressures, questions arise on whether Southwest Airlines' run is over. Despite expecting higher revenue in Q4 2024, Southwest Airlines’ profits fell short by 46%. Goldman Sachs speaks positively of Southwest Airlines, noting high consensus ROE. Jim Cramer criticizes Southwest Airlines for their unwillingness to satisfy Elliott Management's demands after a proxy fight hint. Moreover, Southwest announced Rakesh Gangwal as the new independent chair of the board and the appointment of six new independent directors as part of its comprehensive board refreshment. They also revealed plans to slash annual single-use plastics by 1.5 million pounds. Elliott Management, in response to Southwest's moves, made known their upcoming settlement discussions. Yet, their high costs are predicted to continue impacting their bottom line in Q4. Southwest Airlines also revealed a stock buyback plan and a positive revenue outlook.
Southwest Airlines LUV News Analytics from Mon, 10 Jun 2024 07:00:00 GMT to Sat, 09 Nov 2024 20:29:43 GMT -
Rating 3
- Innovation 4
- Information 5
- Rumor -1
