IT Glitches and Disappointing Results Weigh on Alaska Air (ALK)

2 days ago

Nora Melinda

"Let's go to the air and see what's going on. Yeah, not a pretty picture here, at least for Alaska Air. That's ticker Alk. We're seeing shares falling for the lowest level since April, down as much as 6.7%. And this is after it reported a worse than expected third quarter results. But not only that, they also cancelled hundreds of flights due to an IT outage. And we know that this is the second outage that the company has dealt with in terms of an IT glitch in the past 3 months. So of course you are seeing the street really reacting to this. Shares down about 5.8% right now as we speak. But year-to-date stock is down about 32%."

The speaker outlines negative developments at Alaska Air, highlighting IT outages and poor quarterly results that have pushed the share price to its lowest level since April and a 32% drop YTD. These operational issues and disappointing performance are causing strong market reaction.

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