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Tesla, Wells Fargo, and Delta Air Lines Among 5 Stocks Grabbing Morning Headlines

Although the VIX might be below 14, many stocks will likely show more volatility than usual as earnings season kicks into high gear. In this article, we’ll take a closer look at some companies that have just reported earnings, as well as a few other companies that are trending for various reasons.

Without further ado, let’s analyze the latest concerning Delta Air Lines, Inc. (NYSE:DAL), Tesla Motors Inc (NASDAQ:TSLA), Devon Energy Corp (NYSE:DVN), JPMorgan Chase & Co. (NYSE:JPM), and Wells Fargo & Co (NYSE:WFC) and see why investors are closely monitoring these stocks this morning. Let’s also see what the world’s greatest investors think of each stock.

Our backtests that covered the period between 1999 and 2012, showed that following the 15 most popular small-caps among hedge funds can help a retail investor beat the market by an average of 95 basis points per month (see the details here).

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Delta Reports Earnings

Delta Air Lines, Inc. (NYSE:DAL) earned $1.47 per share on revenue of $10.45 billion for the second quarter, beating profit estimates by $0.05 per share but missing the sales consensus by $40 million. Passenger revenue per available seat mile inched lower by 4.9%, while consolidated capacity rose by 3.2% year-over-year. The passenger load factor declined a tick, to 85.5% from last year’s 85.6%. In terms of guidance, management expects passenger unit revenue to fall between 4% and 6% year-over-year and for operating margin to be between 19% and 21%. Of the 766 active funds that we track, 97 funds owned $6.93 billion of Delta Air Lines, Inc. (NYSE:DAL) shares on March 31, which accounted for 18.30% of the float.

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Tesla Discontinues Vehicle Buyback

In its effort to make cars more affordable, Tesla Motors Inc (NASDAQ:TSLA) has discontinued a program begun in 2013 that guaranteed a certain resale value on its vehicles. In conjunction with ending its vehicle buyback program, Tesla has also lowered the price of the 60D Model X crossover to $74,000, or over 10% less than the Model X 75D. The ending of the buyback program will improve Tesla’s usable cash flow and make Tesla cars more mainstream by lowering vehicle prices. Tesla will need to keep lowering the price of its vehicles if the company is to meet its ambitious 500,000-vehicle production target by 2018. 39 top funds in our system owned shares of Tesla Motors Inc (NASDAQ:TSLA) at the end of the first quarter, up by ten from the end of the prior quarter.

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On the next page we’ll take a closer look at why Devon Energy, JP Morgan, and Wells Fargo are drawing interest today.

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