The airline industry is in a tight spot as Delta struggles to compete with the growth of new competitors like United and American Airlines.
Delta has been under intense scrutiny by the Federal Trade Commission over allegations that its executives and employees engaged in unfair and deceptive business practices, and that the company retaliated against employees for criticizing the company.
The company has since fired two executives, suspended two others and announced it would pay a $100 million settlement to settle claims from employees and customers that they were retaliated upon speaking out.
But analysts believe Delta may be getting a lot worse for its stock because it is under pressure from investors, analysts say.
The airline has lost more than a third of its value since its 2008 IPO, and its shares have plunged from about $3.90 to about $1.50.
The Nasdaq-tracking Dow Jones Industrial Average dropped about 1 percent to 2,931.
The S&P 500 lost 2.6 percent to 1,927.
The Nasdaq Composite lost 3.6 per cent to 2 and the Russell 2000 dropped 2.3 per cent.
While the stock has gained in recent days, analysts believe it may be too early to be bullish on Delta’s prospects, given the airline’s poor performance.
Delta, a unit of American Airlines, lost about 1.6 million U.S. jobs in the third quarter, according to data compiled by Bloomberg.
The airline has suffered from a host of problems, including a $1 billion lawsuit against Delta by employees and consumers alleging that Delta retaliated for them for expressing discontent with management and its culture.
Delta’s stock dropped almost $300 in two trading sessions Thursday, according the Bloomberg Billion Stock Market Index.
Drones are used in the skies to test the stability of aircraft, which is why Delta was a potential target for hackers who could hack the company’s data systems, the FTC said in its lawsuit against the company last year.
The lawsuit was dismissed in October, according a company spokeswoman.
Delta, which has about 4,000 employees and has been in the spotlight in recent years due to its handling of sexual harassment claims against former flight attendants, has been plagued by a string of high-profile sexual harassment complaints, including one by a flight attendant who claimed she was fired after being accused of kissing and groping her.
The SEC complaint also alleged that Delta’s managers retaliated after one of its pilots complained about Delta’s lack of a women-friendly culture, according in an interview with Bloomberg.
Delta has been on a hiring spree since the election, with the airline hiring nearly 800 workers last month, according Bloomberg.
The company is also working to hire more employees, the Bloomberg article said.
The FAA’s announcement Friday that it would grant Delta more authority over drones comes as Delta has already started to sell its drone technology to other carriers.
Delta announced Thursday it was selling a system that would allow pilots to monitor and control unmanned aircraft, Reuters reported.
The plan is to sell the system to an aviation company and use it to fly drones.
The stock of Exxon Mobil has been on a tear since it made a $3.9 billion dividend payment in July.
The dividend is the largest payout by a publicly traded company in history.
Now, Exxon Mobil’s stock is trading at around $55 a share, up from about $50 a year ago.
In 2018, ExxonMobil stock was trading at about $46 a share.
That makes Exxon Mobil the No. 2 stock among the top 20 U.S. corporations in terms of its market value.
If Exxon Mobil stays on its current course, it would become the fourth-largest company in the world and the third-largest in the U.K. in terms to its market cap.
Investors should take note of the company’s dividend.
It’s a great time to be an investor.
In addition to the dividend, Exxon is also selling off assets.
Exxon Mobil is trying to sell its assets, including its oil and gas operations.
ExxonMobil is currently in the process of selling the assets of its Oil and Gas business.
That includes the assets it owns near Fort Worth, Texas, and its oil fields in Canada.
Exxon has said that it plans to sell assets in Canada, but has not yet said how many assets it plans on selling.
The company said that about 20% of its assets in the United States will be sold in the next two years.
Investors can invest in ExxonMobil shares at ExxonMobil.com or at the following websites.
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