DELTA AIRLINES IS A NAME WE FEEL IS ALSO KIND OF, YOU KNOW, FRONT AND CENTER IN THE AIRLINE INDUSTRY AS FAR AS INNOVATION IN A WAY THAT REALLY MAKES THEIR BUSINESS MODEL INFALLIBLE.
Contexte
"SURE. LOOK, DELTA AIRLINES IS A NAME WE FEEL IS ALSO KIND OF, YOU KNOW, FRONT AND CENTER IN THE AIRLINE INDUSTRY AS FAR AS INNOVATION..."
AND YOU LIKE DELTA AIRLINES AND COSTCO, SO YOU'RE BETTING ON THE CONSUMER.
Contexte
"CHERYL: AND YOU LIKE DELTA AIRLINES AND COSTCO, SO YOU'RE BETTING ON THE CONSUMER."
Transcription Complète
FOR THE EARN EARNINGS SEASON. JOINING ME NOW WITH $3 BILLION IN ASSETS UNDER MANAGEMENT, SENIOR PORTFOLIO MANAGER KEITH BUCHANAN. LET'S TEE IT UP FOR NEXT WEEK. WE HEARD FROM A LOT OF THE TECH NAMES THIS WEEK. WHAT IS THE MAIN FOCUS FOR YOU COME MONDAY? >> THANKS AGAIN FOR HAVING ME. WE'RE LOOKING AT THIS EARNINGS SEASON AS SOMEWHAT OF A FORK IN THE ROAD WHERE COMPANIES AND INDUSTRIES HAVE TO MOVE THEIR METTLE. THEY'VE BEEN WANTING THESE VALUATIONS THE LAST COUPLE OF YEARS, AND NOW THEY HAVE TO PROVE THAT THEY HAVE BUSINESS MODELS THAT CAN SUSTAIN THEMSELF CANS AND PROVE THEY HAVE VALUATION CORRECT. WE'RE NOT IN A POSITION NECESSARILY WHERE WE'RE STILL GOING OFF OF HOPE OR HYPE. NOW IT HAS TO BE PROVEN ON A QUARTER ON QUARTER BASIS WITH HIGH EXECUTION, AND EARNINGS GUIDANCE THAT PROVES THAT'S CONTINUOUS AT LEAST OVER THE NEXT COUPLE OF YEARS AS WE KIND OF PARSE THROUGH THE RETURNS AND EARNINGS GROWTH THAT THIS MARKET IS PAYING FOR AND WHETHER THEY CAN DELIVER THOSE FOR INVESTORS RIGHT NOW. CHERYL: YOU ALSO MENTIONED, I THINK, THAT THE BOND MARKET IS TIGHTENING EVEN IF THE FED ISN'T. WE'VE HAD SEVERAL OF OUR GUESTS ECHO THE SENTIMENTS FROM YOU. LET'S TALK ABOUT WE JUST HAD OR CORRESPONDENT, LAUREN SIMONETTI, AT THE NEW TEXY EXCHANGE DOWN IN DALLAS BACKED BY A PROFIT THE MAJOR BANKS. JPMORGAN IS ONE OF THEM OR, A COMPANY THAT IS BUILDING A MULTIBILLION DOLLAR CAMPUS IN THE STATE OF TEXAS, IN DALLAS. SO TALK TO US ABOUT JPMORGAN, BECAUSE YOU LIKE THIS NAME. >> WE REALLY LIKE J, MORGAN RIGHT NOW. -- JPMORGANMENT BEST IN BREED IN THE INDUSTRY THAT IS CLICKING ON ALL CYLINDERS. REALLY CONTRIBUTING IN HISTORIC FASHION TO EARNINGS GROWTH AND ALSO COMING TO A PERIOD WHERE LONGER IN, AS YOU MENTIONED, AFTER -- HAS PROPPED UP SOME AND THEIR SHORTER END HAS REMAINED SOMEWHAT NEUTRAL IF NOT TRENDED DOWNWARD, THAT STEEPENING ADDINGS MORE LURE TO THE TRADITIONAL BANKING MISS. -- BUSINESS. AND IF TRADING AND ALL THOSE CAN CONTINUE THE KICK IN, DRAMATIC EARNINGS GROWTH ON A YEAR OVER YEAR A BASIS, IT'S ONE OF THOSE NAMES THAT CONTINUES TO PROVE GOING FORWARD FROM AN EARNINGS PERSPECTIVE. CHERYL: AND YOU LIKE DELTA AIRLINES AND COSTCO, SO YOU'RE BETTING ON THE CONSUMER. WE HAD CONSUMER CONFIDENCE TODAY ACTUALLY BOOSTED. SO WE SAW A STRONG REPORT THERE. THAT KIND OF GIVES ME A SENSE THAT MAYBE YOU'RE BANKING ON THE CONSUMER IN THOSE STOCKS AS WELL. >> SURE. LOOK, DELTA AIRLINES IS A NAME WE FEEL IS ALSO KIND OF, YOU KNOW, FRONT AND CENTER IN THE AIRLINE INDUSTRY AS FAR AS INNOVATION IN A WAY THAT REALLY MAKES THEIR BUSINESS MODEL INFALLIBLE. AND THE VALUATION DOESN'T REALLY REFLECT THAT JUST YET BECAUSE WE ARE, THE AIRLINE INDUSTRY HAS BEEN A BOOM-BEST OVER A GENERATION. WE FEEL LIKE IT'S DIFFERENT NOW AS A FEW PLAYERS IN THE SPACE, THERE ARE FEWER, FRANKLY, RATIONAL CAPACITY, ADDITIONS IN DIFFERENT PARTS OF THE CYCLE WE'VE SEEP OVER THE PAST YEAR. AND WITH THE MARGINS THEY'VE BEEN ABLE TO BUILD AND CASH FLOW GENERATION, AND NOW THEY'RE BAYING A DIVIDEND, WE FEEL LIK
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