Stock Movers: Delta, L3Harris, Travere Therapeutics Discussed by Bloomberg

Delta Air Lines (DAL) Stock Performance

• ✈️ Delta Air Lines shares are lower despite reporting fourth-quarter earnings that beat analyst estimates and record annual revenue of $58.3 billion.
• 💡 The decline is attributed to an underwhelming annual profit outlook and a predicted free cash flow of $3 billion to $4 billion, down from $4.6 billion last year.
• 🚀 The company is ordering 30 Boeing 787 Dreamliner jets, marking its first purchase of this model, signaling optimism for international travel demand.
• 📉 Delta's stock drop is also dragging down shares of American Airlines and United.

L3Harris Technologies (LHX) Gains

• 🛡️ L3Harris Technologies shares are up 13% following a significant investment from the Department of Defense.
• 💰 The DoD will invest $1 billion in the company's Missile Solutions business through a convertible preferred security, which will convert to common equity upon the unit's IPO.
• 🏭 This investment aims to increase capacity for building solid rocket motors for US missiles, described as a first-of-its-kind partnership.
• ⚡ The move aligns with the defense secretary's push for speed and innovation in defense.

Travere Therapeutics (TVTX) Stock Slump

• 📉 Travere Therapeutics shares have slumped as much as 28% after the biotech firm received a request from the FDA.
• ❓ The FDA is seeking clarification on the clinical benefit of its therapy for a rare kidney disease.
• ⏳ Analysts suggest this FDA request could delay the approval of the therapy by the agency.