Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon. Today is Thursday, December 5th, and I'm your host, Kim Con. Our top story so far.

Airlines stocks are heading higher on bullish comments from Southwest about travel trends and increased

guidance from American Airlines. Southwest raised its unit revenue per available seat mile

for the current quarter. Unit revenue is now expected to increase by five and a half to seven

percent from initial estimates of three and a half to five and a half percent. The carrier said

it is encouraged by recent revenue trends and forward bookings,

including fourth quarter holiday travel, and currently expect strong revenue trends and

tactical initiative performance to carry into 2025. The American is now looking for adjusted

Q4 EPS of 55 to 75 cents, more than double the low end of its previous range of 25 to 50 cents.

The consensus is 39 cents.

It sees total revenue per available seat mile to be about flat to up 1% versus the same period

in 2023, and costs per available seat mile to be between 5 and 6% versus prior guide of 4 to 6%.

AAL is up 15% today, while Southwest, United, and Delta are all up around 5%.

Among other active stocks, Kroger's Q3 revenue was impacted by lower fuel prices and the sale of

its specialty pharmacy business. The effect was offset by a slight improvement in profits

and a marginal increase in expectations for full year 2024 sales.

The company now expects identical sales exfuel

to increase by 1.2 to 1.5% from prior guidance of up 0.75 to 1.75%.

Kroger also narrowed its EPS guidance to a range of 435 to 445 per share, from 430 to 450

per share, versus the consensus estimate of 444.

It's Walt Disney's birthday today, but investors get the present.

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