Hawaiian Holdings Inc Com Stock (NASDAQ: HA)

Hawaiian Holdings Inc Com (NASDAQ:HA) Stock, Quote.Headers.trade-ideas

Hawaiian Holdings

Menlo,Park,,Ca,,Usa,-,Feb,29,,2020:,The,Boeing

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An Alaska Airlines flight returned to Seattle due to engine trouble. The Boeing 737-700 plane left for Oakland but had to turn around after an hour.

Boeing 737 Aircraft Experiences Engine Trouble During Alaska Airlines Flight, Forced To Turn Around

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Fabrinet Posts Strong Earnings, Joins Amer Sports, Hawaiian Holdings And Other Big Stocks Moving Higher On Tuesday

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Why Bit Digital Shares Are Trading Higher By Around 11%; Here Are 20 Stocks Moving Premarket

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Shares of companies in the broader industrial space are trading higher following the Fed's announcement to cut rates by 50 basis points yesterday, which could support investment and economic growth.

Alaska Airlines CEO Says Boeing Strike Unlikely To Significantly Impact Carrier Unless Prolonged; Notes Significant Improvement At Boeing, Expects 737 MAX 10 Deliveries By Mid-2026

Alaska Airlines Completes Acquisition Of Hawaiian Airlines, Expanding Access To 141 Direct Destinations And Over 1,200 Global Destinations, While Maintaining Both Brands And Offering Free Mile Transfers Between Loyalty Programs

Hawaiian Holdings shares are trading higher after the U.S. Department of Transportation granted the company and Alaska Air Group temporary exemption for common ownership under Alaska Air Group, pending a final decision on the route authority transfer.

<a href="https://www.regulations.gov/document/DOT-OST-2024-0084-0005" title="https://www.regulations.gov/document/DOT-OST-2024-0084-0005">https://www.regulations.gov/document/DOT-OST-2024-0084-0005</a>
<a href="https://www.regulations.gov/document/DOT-OST-2024-0084-0005" title="https://www.regulations.gov/document/DOT-OST-2024-0084-0005">https://www.regulations.gov/document/DOT-OST-2024-0084-0005</a>

U.S. Department Of Transportation Grants Alaska Airlines And Hawaiian Airlines Temporary Exemption For Common Ownership Under Alaska Air Group, Pending Final Decision On Route Authority Transfer

"On August 27, 2024, Robert Rivkin, Senior Vice President and Chief Legal Officer of United Airlines (United), spoke with Deputy General Counsel Brian Stansbury. Mr. Rivkin expressed concerns regarding the potential impact of a merger between Alaska Airlines and Hawaiian Airlines on the cooperation agreements between United and Hawaiian Airlines. He noted that United has interline, codeshare, special prorate, and loyalty agreements with Hawaiian Airlines."
<a href="https://www.regulations.gov/document/DOT-OST-2024-0084-0003" title="https://www.regulations.gov/document/DOT-OST-2024-0084-0003">https://www.regulations.gov/document/DOT-OST-2024-0084-0003</a>

Legal

United Airlines Petitioning Department Of Transportation To Block Alaska Air/ Hawaiian Deal

An Alaska Air Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) flight headed for Oakland, California, from Seattle was forced<a href="https://www.benzinga.com/markets/equities/24/08/40571260/boeing-sees-strong-demand-for-planes-in-china-expects-fleet-to-double-by-2043"> to turn around </a>Sunday afternoon after the aircraft — made by The Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) — reportedly experienced engine trouble.
What Happened: The Boeing 737-700 airplane left Seattle-Tacoma International Airport at 12:24 Pacific Day Light Time for Alaska Airlines Flight 1240 but flew back to the airport in just over an hour due to the #1 engine on the plane&#8217;s left side shutting down, Fox Business News <a href="https://www.foxbusiness.com/economy/alaska-airlines-boeing-flight-returns-airport-following-engine-issue">reported</a>.
&nbsp;&#8220;We worked to take care of our guests and accommodate their travel to Oakland yesterday afternoon, and we apologize for the inconvenience,&#8221; Alaska Airlines statement read.
Boeing did not immediately respond to Benzinga&#8217;s request for further comment.
Read Also: <a href="https://feeds2.benzinga.com/markets/equities/24/08/40504636/federal-judge-who-overturned-boeings-72m-verdict-over-stealing-trade-secrets-admits-trading-up-t">Federal Judge Who Overturned Boeing&#8217;s $72M Verdict Over Stealing Trade Secrets Admits Trading Up To $15K In Airplane Maker&#8217;s Stock While Overseeing The Case: &#8216;Could Be Some Market Movement, But It&#8217;s Not Going To Influence My Decision&#8217;</a>
A different aircraft got passengers to Oakland later in the evening, according to flight tracking website FlightAware.&nbsp;
Why It Matters: Boeing has been under intense scrutiny <a href="https://www.benzinga.com/markets/equities/24/05/39009464/boeings-employee-speak-up-on-safety-quality-soar-500-after-737-max-incident-whats-the-benefit">over the safety of its aircraft</a>.
The company is also <a href="https://www.benzinga.com/markets/equities/24/06/39470596/boeing-offers-to-acquire-spirit-aerosystems-in-35-per-share-deal-funded-mostly-by-stock-report">seeking to acquire</a> Spirit AeroSystems (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPR#NYSE">SPR</a>).
Alaska Airlines, meanwhile, is in the process of trying to merge with Hawaiian Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HA#NASDAQ">HA</a>).
Alaska Airlines was in the news earlier this year when a Boeing 737-9 MAX door plug blowout occurred during one of their flights in January.&nbsp;
Earlier this summer, the National Traffic Safety Board criticized Boeing for sharing details of the probe into the plug malfunction during a press conference by Elizabeth Lund, senior vice president of quality for Boeing commercial airplanes. 
Price Action: Boeing declined 0.37% to $172.84 by Tuesday&#8217;s mid-afternoon trading, while exchange-traded funds that hold the stock went up for the most part.
<ul>
<li>IShares U.S. Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPA#NYSE">PPA</a>) gained 0.18%</li>
<li>Direxion Daily Aerospace &amp; Defense Bull 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEFN#NYSE">DEFN</a>) rose 0.58%</li>
<li>Gabelli Commercial Aerospace and Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCAD#NYSE">GCAD</a>) slid 0.09%</li>
<li>First Trust Indxx Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MISL#NYSE">MISL</a>) went up 0.13%</li>
<li>Invesco Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPA#NYSE">PPA</a>) edged up 0.18%</li>
</ul>
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Emles Trust Emles Protective Allocation ETF

TD Cowen analyst Helane Becker maintains Hawaiian Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HA#NASDAQ">HA</a>) with a Hold and raises the price target from $13 to $18.

Price Target

Analyst Ratings

TD Cowen Maintains Hold on Hawaiian Holdings, Raises Price Target to $18

U.S. stocks were mixed, with the Dow Jones index falling around 0.1% on Tuesday.
Shares of Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) rose sharply in today's session as the company reported better-than-expected fourth-quarter financial results and issued <a href="https://www.benzinga.com/news/earnings/24/08/40459483/fabrinet-analysts-boost-their-forecasts-after-upbeat-earnings">strong guidance on Monday.</a>
Fabrinet reported quarterly earnings of $2.41 per share, which beat the analyst consensus estimate of $2.24 per share. Quarterly sales clocked in at $753.261 million, which beat the analyst consensus estimate.
Fabrinet expects first-quarter revenue to be in the range of $760 million to $780 million and earnings to be in the range of $2.33 to $2.40 per share.
Fabrinet shares jumped 18.2% to $273.76 on Tuesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Bit Digital, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTBT#NASDAQ">BTBT</a>) shares jumped 19.7% to $3.5702 after the company reported better-than-expected second-quarter sales results. Also, the company announced a binding term sheet with Boosteroid.</li>
<li>NANO Nuclear Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNE#NASDAQ">NNE</a>) gained 16.3% to $12.87. NANO Nuclear Energy announced the purchase of 14,000 sq. ft. facility for $1.71 million.</li>
<li>Tempus AI, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>) climbed 15.7% to $66.65 following last week&#8217;s expanded collaboration and investment in Personalis.</li>
<li>Amer Sports, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AS#NYSE">AS</a>) gained 12.2% to $13.87 after the company reported better-than-expected second-quarter financial results and raised FY24 earnings outlook.</li>
<li>Acelyrin, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLRN#NASDAQ">SLRN</a>) gained 11.9% to $4.89.</li>
<li>Hawaiian Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HA#NASDAQ">HA</a>) rose 11.4% to $17.69 following a report suggesting that the period for the Department of Justice to complete its regulatory investigation of the merger proposal with Alaska Airlines has expired. The two companies are now one step closer to completing the deal and will now require approval from the U.S. Department of Transportation.</li>
<li>Navios Maritime Partners L.P. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NMM#NYSE">NMM</a>) gained 10% to $52.10 following upbeat quarterly earnings.</li>
<li>ZKH Group Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZKH#NYSE">ZKH</a>) gained 9.2% to $3.93. ZKH Group will release its unaudited financial results for the second quarter on Thursday, Aug. 22.</li>
<li>Redfin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDFN#NASDAQ">RDFN</a>) shares climbed 9.2% to $9.61.</li>
<li>ARS Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPRY#NASDAQ">SPRY</a>) rose 9% to $15.52. Cantor Fitzgerald analyst Josh Schimmer initiated coverage on ARS Pharmaceuticals with an Overweight rating and announced a price target of $30.</li>
<li>Palo Alto Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NYSE">PANW</a>) gained 6.7% to $366.34 following better-than-expected fourth-quarter financial results, issued strong guidance and authorized an additional $500 million for repurchase. Multiple analysts raised their price targets on the stock following the report.</li>
<li>Lumentum Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LITE#NASDAQ">LITE</a>) rose 6.1% to $56.04.</li>
<li>Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) gained 4.7% to $965.10. On Tuesday, Eli Lilly released topline results from the SURMOUNT-1 three-year study (176-week treatment period) evaluating tirzepatide once weekly for long-term weight management and delay in progression to diabetes in adults with pre-diabetes and obesity or overweight.</li>
</ul>
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U.S. Transportation Department Spokesman Says Reviewing Alaska Airlines, Hawaiian Airlines Application To Operate Jointly

Hawaiian Holdings shares are trading higher following a report suggesting that the period for the Department of Justice to complete its regulatory investigation of the merger proposal with Alaska Airlines has expired. The two companies are now one step closer to completing the deal and will now require approval from the U.S. Department of Transportation.

Shares of Bit Digital, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTBT#NASDAQ">BTBT</a>) rose sharply in today's pre-market trading after the company reported better-than-expected second-quarter sales results. Also, the company announced a binding <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40450880/bit-digital-reports-mixed-q2-results-eps-miss-revenue-up-80">term sheet with Boosteroid.</a>
Bit Digital reported quarterly losses of nine cents per share, which missed the analyst consensus estimate of losses of three cents per share. Quarterly revenue came in at $29 million, beating the analyst consensus estimate of $26.09 million by 11.16% and representing a 220.87% increase year-over-year.
Bit Digital shares jumped 11% to $3.32 in pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Treasure Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TGL#NASDAQ">TGL</a>) rose 122.4% to $1.29 in today's pre-market trading. Treasure Global recently submitted request to withdraw S-1 registration statement.</li>
<li>Heramba Electric plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PITA#NASDAQ">PITA</a>) gained 127% to $4.76 in pre-market trading after jumping around 10% on Monday.</li>
<li>Titan Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTNP#NASDAQ">TTNP</a>) gained 105.6% to $10.25 in pre-market trading. Titan Pharmaceuticals entered into merger and contribution and share exchange agreement regarding a business combination with KE Sdn. Bhd.</li>
<li>Tantech Holdings Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TANH#NASDAQ">TANH</a>) shares rose 60.1% to $0.2036 in pre-market trading.</li>
<li>MicroAlgo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLGO#NASDAQ">MLGO</a>) gained 30.5% to $0.7180 in pre-market trading after gaining around 12% on Monday.</li>
<li>MicroCloud Hologram Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLO#NASDAQ">HOLO</a>) gained 28.1% to $0.5340 in pre-market trading after climbing 43% on Monday.</li>
<li>Actelis Networks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASNS#NASDAQ">ASNS</a>) gained 22.3% to $1.59 in pre-market trading after the company announced a strategic partnership with an advanced cybersecurity provider to develop and deliver a novel, AI-Powered SaaS offering, under Actelis&#8217; &#8216;Cyber Aware Networking&#8217; initiative.</li>
<li>Golden Sun Health Technology Group Limited  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSUN#NASDAQ">GSUN</a>) gained 19.1% to $6.62 in pre-market trading after dipping 25% on Monday.</li>
<li>Hawaiian Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HA#NASDAQ">HA</a>) shares gained 10.1% to $17.48 in pre-market trading. The proposed $1.9 billion merger between Alaska Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) and Hawaiian Airlines by Hawaiian Holdings has received clearance from the U.S. Justice Department, marking a significant step forward in the deal announced eight months ago. The merger is now pending approval from the U.S. Transportation Department.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Alzamend Neuro, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALZN#NASDAQ">ALZN</a>) shares fell 29.1% to $4.15 in pre-market trading. Alzamend Neuro shares jumped 188% on Monday after the company announced that it is partnering with Massachusetts General Hospital as its contract research organization to conduct first of its kind Phase II clinical study of AL001 for treatment of patients with PTSD.</li>
<li>Cingulate Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CING#NASDAQ">CING</a>) shares declined 25.6% to $9.52 in pre-market trading. Cingulate shares dipped 28% on Monday after the company increased the maximum offering price for common stock under its sales agreement from $8.47 million to $11.33 million.</li>
<li>Sidus Space, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIDU#NASDAQ">SIDU</a>) declined 22.1% to $2.97 in pre-market trading. Sidus Space reported quarterly losses of 99 cents per share and $927,570 in revenue for the second quarter.</li>
<li>NuCana plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCNA#NASDAQ">NCNA</a>) shares fell 20.5% to $7.69 in pre-market trading. NuCana shares surged 181% on Monday after Oppenheimer reiterated an outperform rating on the stock and maintained a $150 price target, citing the company&#8217;s randomized Phase 2 trial in metastatic colorectal cancer as a key catalyst.</li>
<li>GeoVax Labs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOVX#NASDAQ">GOVX</a>) fell 18.8% to $5.80 in today's pre-market trading. On Monday, Noble Capital Markets maintained an Outperform rating on the stock and raised its price target from $6 to $10.</li>
<li>Sonder Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOND#NASDAQ">SOND</a>) fell 16.6% to $5.04 in pre-market trading. Sonder shares surged over 130% on Monday after the company announced a long-term licensing agreement with Marriott. Additionally, the company secured $146 million in additional liquidity.</li>
<li>Fluent Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLNT#NASDAQ">FLNT</a>) fell 16.3% to $2.51 in pre-market trading as the company reported worse-than-expected second-quarter financial results on Monday.</li>
<li>Electra Battery Materials Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ELBM#NASDAQ">ELBM</a>) shares dipped 14.2% to $0.4797 in pre-market trading. Electra Battery Materials shares surged 50% on Monday after the Department of Defense announced it awarded the company a $20 million contract to complete an industrial scale hydrometallurgical plant and establish production of cobalt sulfate.</li>
<li>Vipshop Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>) shares declined 7.2% to $13.00 in pre-market trading after reporting second-quarter results.</li>
<li>ATRenew Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RERE#NYSE">RERE</a>) shares fell 6.7% to $2.65 in pre-market trading following second-quarter results.</li>
</ul>
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The proposed $1.9 billion merger between Alaska Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) and Hawaiian Airlines by Hawaiian Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HA#NASDAQ">HA</a>) has received clearance from the U.S. Justice Department, marking a significant step forward in the deal announced eight months ago. The merger is now pending approval from the U.S. Transportation Department.
What Happened: The Justice Department&#8217;s period for antitrust investigation concluded without any lawsuit to halt the merger, CNBC<a href="https://www.cnbc.com/2024/08/20/alaska-airlines-hawaiian-airlines-merger.html"> reported</a> on Tuesday. This comes on the heels of the DOJ&#8217;s January victory in court, blocking JetBlue Airways&#8217; acquisition of Spirit Airlines. The DOJ also won a lawsuit last year that dissolved a partnership between JetBlue and American Airlines in the Northeast.
If the Transportation Department gives its nod, this merger will be the biggest among U.S. carriers since Alaska Airlines&#8217; merger with Virgin America eight years prior. The merged entity would operate as a single platform, boasting a fleet of over 360 airplanes and covering more than 130 destinations.
See Also: <a href="https://www.benzinga.com/news/24/08/40429962/mary-trump-donalds-narcissistic-injury-is-so-great-that-he-has-essentially-stopped-campaigning?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mary Trump: &#8216;Donald&#8217;s Narcissistic Injury Is So Great That He Has Essentially Stopped Campaigning&#8217;</a>
Despite facing numerous challenges such as the Maui wildfires, increased competition from Southwest Airlines, and a slower recovery of travel to and from Asia post-Covid-19, Hawaiian Airlines has seen its shares surge by nearly 12% this quarter.
Why It Matters: The merger, first announced in December 2023,<a href="https://www.benzinga.com/m-a/23/12/36061992/alaska-air-set-to-acquire-hawaiian-airlines-in-a-1-9b-deal"> is expected to offer </a>customers a wider range of domestic and international options, while both airlines will retain their individual brands, a decision influenced by their nearly century-long history and the communities they serve.
The development comes amid Alaska Airlines&#8217; financial health which has been under scrutiny. In August, Alaska Air&#8217;s stock hit a technical milestone <a href="https://www.benzinga.com/trading-ideas/technicals/24/08/40415812/alaska-air-stock-forms-death-cross-is-turbulence-ahead-for-alk">known as a Death Cross</a>, indicating a potential continuation of the stock&#8217;s downward trajectory. The stock was already down 7.93% year-to-date and 20.83% over the past year.
Price Action: On Monday, Hawaiian Holdings, Inc. stock fell and closed 4.39% lower at $15.88 while Alaska Airlines saw a slight increase of 0.52% at its close of $34.96, according to<a href="https://pro.benzinga.com"> Benzinga Pro.</a>
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Photo via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

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