Delta Air Lines (-9%) leading airlines lower (JETS -5%) after preannouncing fourth quarter results with soft unit revenue
* Delta raised Q4 EPS guidance to $1.25-1.30 from $1.10-1.30, pre-tax margin to 10-11% from 9-11%, but total unit revenue excluding refinery sales grew 3% versus +3-5% guidance.
* The company noted that overall demand remains healthy in business and leisure; while close-in yield momentum continues, the pace of improvement in late December was more modest than anticipated.
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