The CNBC’s “Squawk on the Street” crew provided a preview on the ensuing corporate earnings season and flagged out Guess, Inc. (NYSE:GES) and Delta Air Lines, Inc. (NYSE:DAL) for their respective stellar and disappointing performances.
The CNBC team slotted Guess, Inc. (NYSE:GES) stock as one of today’s market movers and pointed out that Piper Jaffray has upgraded the stock to ‘Overweight’ rating with price target of $32. The CNBC presenters pointed out that research analysts at Piper had cited “signs of European stabilization and improvements in the company’s wholesale order flows for spring of 2015” as reasons for the positive outlook on Guess, Inc. (NYSE:GES).
The Squawk team also said that Guess, Inc. (NYSE:GES) was one of the day’s early movers and “big gainers” as it has advanced by 4%, in comparison to previous day close. The CNBC team also pointed out Guess, Inc. (NYSE:GES) “it’s great ads benefits more than most when you see signs of stabilization, a big tail wind for a lot of American companies in earnings.”
The Squawk team further singled out Delta Air Lines, Inc. (NYSE:DAL) as one of the day’s weak performers. They pointed out that Delta Air Lines, Inc. (NYSE:DAL) had “cuts flights to Venezuela because of disputes there” and had struggled to build momentum in its operations “despite what has been moderating oil prices” that have prevailed in the international markets.
The commentary by the CNBC team, then went on to explain that there was expectation in the market that the stock of Delta Air Lines, Inc. (NYSE:DAL) would rebound and recover from the lows which were triggered by the increase in oil price recently when the unrest in Iraq hit the headlines.