Roth/MKM Comments on Alaska Air Group (ALK) and Hawaiian Holdings (HA)

Midday movers: Uber, Spotify and more

(Updated - December 4, 2023 12:11 PM EST)

Investing.com -- Main U.S. indexes were lower on Monday, with Nasdaq leading the Dow and the S&P 500 amid broad weakness in megacap tech. Investors were cautious ahead of economic data later this week, including the November payroll report on Friday.

Here are some of the biggest U.S. stock movers today:

Alaska Air (NYSE: ALK) stock slumped 15% after the carrier agreed to acquire... More

Hawaiian Airlines' parent surges on $1.9 billion buyout deal with Alaska Air

By Ananta Agarwal

(Reuters) -Shares of Hawaiian Holdings, the parent of Hawaiian Airlines, nearly tripled on Monday after Alaska Air Group agreed to acquire it for $1.9 billion, including debt.

Hawaiian shares were trading at $13.40 in morning trade, below Alaska's offer price of $18 per share made public on Sunday, with some analysts saying regulatory approval was far from certain.

The company's shares had taken a beating in recent months due to the impact of the Maui wildfires,... More

Analyst says it's time for Uber to announce share buybacks after S&P 500 inclusion

S&P Dow Jones Indices is set to implement changes to the S&P 500 effective prior to the open of trading on Monday, December 18, as part of the quarterly rebalance.

Uber Technologies Inc. (NYSE: UBER), Jabil Inc (NYSE:... More

Stocks expected to have increasing option volume: HA ALK UAL AAL DAL GME AZO TOL UBER JBL BLDR

Stocks expected to have increasing option volume: HA ALK UAL AAL DAL GME AZO TOL UBER JBL BLDR

Alaska Air (ALK) drops 9% on $1.9 billion deal to buy Hawaiian (HA)

Hawaiian Holdings (NASDAQ: HA) shares rose nearly 200% in premarket trading following the announcement that rival Alaska Air (NYSE: ALK) has agreed to acquire the carrier for $1.9 billion.

Alaska Air agreed to pay $18 per share in cash. The transaction value incorporates $0.9 billion of net debt held by Hawaiian Airlines.

The companies anticipate approximately $235 million in expected run-rate synergies, representing a... More

Alaska Air Group (ALK) option implied volatility into acquiring Hawaiian Airlines (HA)

Alaska Air Group (NYSE: ALK) December option implied volatility is at 36, January is at 34; compared to its 52-week range of 25 to 204 into acquiring Hawaiian Airlines (HA) for a transaction value of approximately $1.9B.

Raymond James Downgrades Alaska Air (ALK) to Market Perform

Raymond James analyst Savanthi Syth downgraded Alaska Air (NYSE: ALK) from Strong Buy to Market Perform.

The analyst comments "We are downgrading ALK from Strong Buy to Market Perform following the announcement of the planned acquisition of Hawaiian. Admittedly, with the acquisition... More

Deutsche Bank Upgrades Hawaiian Holdings (HA) to Buy, 'swapping ratings'

(Updated - December 4, 2023 4:28 AM EST)

Deutsche Bank analyst Michael Linenberg upgraded Hawaiian Holdings (NASDAQ: HA) from Hold to Buy with a price target of $16.00 (from $4.00).

The analyst comments "On the surface, the equity premium is significant, although Hawaiians equity value traded at a level that... More

Deutsche Bank Downgrades Alaska Air (ALK) to Hold, 'swapping ratings'

(Updated - December 4, 2023 4:28 AM EST)

Deutsche Bank analyst Michael Linenberg downgraded Alaska Air (NYSE: ALK) from Buy to Hold with a price target of $44.00 (from $55.00).

The analyst comments "This afternoon Alaska Airlines announced it will acquire Hawaiian Airlines in an all-cash... More

Alaska Air to buy peer Hawaiian for $1.9 billion

By Rajesh Kumar Singh, Akanksha Khushi and Anirban Sen

(Reuters) -Alaska Air Group Inc said on Sunday it would acquire Hawaiian Holdings Inc for $1.9 billion, including debt, placing a bet on a troubled airline with lucrative routes as U.S. antitrust regulators fight consolidation in the sector.

Alaska Air said it would pay $18 per share in cash, close to four times Hawaiian's closing price on Friday. The whopping premium reflected how battered Hawaiian's shares were. The Maui wildfires, high fuel costs and jet engine recall issues at some of Hawaiian's Airbus SE planes contributed to heavy... More

Alaska Airlines (ALK) to acquire Hawaiian Holdings (HA)

Alaska Air Group, Inc. (NYSE: ALK), and Hawaiian Holdings, Inc. (NASDAQ: HA) today announced that they have entered into a definitive agreement under which Alaska Airlines will acquire Hawaiian Airlines for $18.00 per share in cash, for a transaction value of approximately $1.9 billion, inclusive of $0.9 billion of Hawaiian Airlines net debt. The combined company will unlock more destinations for... More

Uber, Jabil And Builders Firstsource Set To Join S&P 500

(Updated - December 1, 2023 5:45 PM EST)

S&P Dow Jones Indices (S&P DJI) will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices effective prior to the open of trading on Monday, December 18, to coincide with the quarterly rebalance. The changes ensure each index is more representative of its market capitalization range. All companies being added to the S&P 500 are more representative of the large-cap market space, all companies being added... More