Delta Air Lines falls in weak trading with rising open interest

STOCKS

Delta Air Lines, Inc. (DAL.N) fell for a second day on Thursday bringing its two-day fall to 19.0c or 1.6%. The stock price decreased 14.0c (or 1.2%) to close at US$11.61. Compared with the S&P 500 index, which fell 3.0 points (or 0.2%) on the day, this was a relative price change of -1.0%.

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RELATIVE VALUATION INDICATORS [RVI] FUNDAMENTALS

Bullish Signals:

Valuation

- Price/Earnings of 7.6 versus sector average of 11.4 and market average of 12.5.

- Price/Sales of 0.31 versus sector average of 0.4 and market average of 1.0. We estimate the shares are trading at a current year Price/Sales of 0.3 and a forward year Price/Sales of 0.3.

- The company is cash rich with Cash to Market Capitalisation at 29.4%.

Bearish Signals:

Performance

- Return on Assets of 1.4% versus sector average of 2.6% and market average of 2.0%.

- Return on Capital Employed of 5.1% versus sector average of 7.0% and market average of 11.5%.

Description Value Rank In Market Price to Sales 0.3 In Top Quartile Cash To Mcap 29.4 In Top Quartile Price Earnings 7.6 In Top Quartile EBITDA Margin % 10.5 In Bottom Quartile Return on Assets [ROA] % 1.4 In Bottom Quartile Return on Capital Employed [ROCE] % 5.1 In Bottom Quartile Interest Cover 1.6 In Bottom 7%

RELATIVE VALUATION INDICATORS [RVI] TECHNICALS

- In the global market of top 5000 stocks by MCap, the stock has a 6-month relative strength of 97 which means it is beating 97% of its global peers.

- There were 2,292,187 shares worth US$26.8 million traded. The volume was 0.2 times average trading of 13,315,436 shares.

- The last price is at a discount of 3.2% to the 12-month high of US$12.0 one-day ago on 30 May, 2012.

- The Beta of this stock is 1.05. A Beta greater than 1 suggests this is a high risk, high return stock with volatility greater than that of the market.

Description Value Rank In Market PMAP200 1.3 In Top 4% PMAP50 1.1 In Top 5% Relative Strength (6M) 96.9 In Top 6% Premium To VWP 5 In Top Quartile Stochastic -9 Bearish

DOWNTREND

- The stock decreased on high volume falling for a second consecutive day. Its a two day fall of 1.6%

- Open interest advanced for a seventh straight day; the stock fell for a second day. Open interest rose 1.3% from 309,720 to 313,829. Combined with the price falling 1.2% this suggests the market is weak.

COMPANY ANNOUNCEMENTS

May 30, 2012: Delta Fare Sale Celebrates Latest LaGuardia Expansion

[News Story] NEW YORK, May 30, 2012 Delta Air Lines (NYSE: DAL) today unveiled sale fares between New York's LaGuardia Airport and select destinations nationwide as it marks the second phase of its historic expansion at the airport. (Logo: http://photos.prnewswire.com/prnh/20090202/DELTALOGO ) This summer, Delta is adding 100 new daily flights and 26 new destinations at New York's preferred airport for business travelers.

May 28, 2012: Southwest Airlines and Delta Air Lines Look to Benefit From Lower Fuel Costs Prior to Peak Flying Season

[News Story] NEW YORK, NY -- 05/28/12 -- Airline stocks posted some impressive gains recently. The Bloomberg U.S. Airlines Index (BUSAIRL) of 10 carriers on Thursday jumped as high 6 percent, the largest gain since Jan. 25. During the first quarter, historically the slowest of the year, collectively the top seven U.S.

May 25, 2012: Delta Releases 2011 Corporate Responsibility Report

[News Story] ATLANTA, May 25, 2012 -- Delta Air Lines (NYSE: DAL) today released its 2011 Corporate Responsibility Report, which details the airline's financial, safety, community and environmental performance. The report documents Delta's progress since its 2010 report that was published last June. "We continue to 'raise the bar' with respect to external reporting but recognize that there is still more to be done," said Helen Howes, Delta's managing director - Safety, Health and Environment.

May 23, 2012: Delta Expands Economy Comfort Seating to More Markets

[News Story] ATLANTA, May 23, 2012 Delta Air Lines (NYSE: DAL) will build on the success of its Economy Comfort seating on long-haul international flights by selling the premium Economy Class product on all flights longer than 750 miles. This expansion puts Economy Comfort on all of Delta's dual-class aircraft and is now available for purchase on all mainline domestic and international flights departing on or after June 7. (Logo: http://photos.prnewswire.com/prnh/20090202/DELTALOGO ) "Our expansion of Economy Comfort gives customers more premium seats to choose from no matter where they fly on Delta," said Glen Hauenstein, Delta's executive vice president - Network Planning, Revenue Management and Marketing. Customers seated in Economy Comfort enjoy three to four inches of additional leg room as well as Priority Boarding.

May 22, 2012: Delta to Take Delivery of Boeing 717 Aircraft Upon Ratification of Pilot Tentative Agreement

[News Story] ATLANTA, May 22, 2012 Delta Air Lines (NYSE: DAL) will begin taking delivery of Boeing 717 aircraft as early as 2013 upon ratification of a new tentative agreement covering Delta's more than 12,000 pilots. The tentative agreement was approved on May 21 by the Master Executive Council (MEC) of the Delta Air Line Pilots Association (ALPA), and now will be presented to pilots for review and ratification through June 30. (Logo: http://photos.prnewswire.com/prnh/20090202/DELTALOGO ) The tentative agreement provides career growth opportunities as well as pay and benefits improvements for Delta pilots, while providing Delta productivity gains and additional aircraft flexibility, including an opportunity to accelerate its domestic fleet restructuring to provide a better customer travel experience. If ratified, the agreement will accelerate Delta's domestic fleet restructuring strategy.