저자: StephanieLink · 외국인
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버핏의 버크셔해서웨이가 델타·사우스웨스트 항공주 지분을 일부 매도했다는 소식으로 시작한다. 매도 배경: 지분이 10% 이상이어서 10% 미만으로 내려가려면 공시가 필요했고, 이 과정에서 매도 사실이 드러났다. 버크셔는 매도 이유를 밝히지 않았으며, 다른 항공주 거래 여부는 확인되지 않았다. 업계 상황: 주요 항공사들이 연방정부의 250억 달러 현금 지원금을 신청했다. 델타는 하루 약 6천만 달러, 제트블루는 하루 약 1천만 달러의 현금이 빠져나가고 있다고 밝혔다. 유나이티드는 4분기 매출이 30% 감소할 것으로 예상했다. 출연자 견해: 항공주는 연초 대비 60% 하락했고 실적의 3배 수준에서 거래되지만, 가시성이 전혀 없어 버핏의 매도를 이해할 수 있다고 봤다. 팬데믹 상황이 다음 주 시장의 핵심 변수이며, 연준의 QE가 유동성을 충분히 공급하는지 지켜봐야 한다고 했다. 신용 스프레드가 다소 완화된 점은 긍정적으로 평가했고, 채권시장 안정이 확인되어야 한다고 강조했다. 변동성은 바이러스 확산 정점이 확인될 때까지 이어질 것이라는 입장이다. 결론: 항공주는 단기적으로 불확실성이 크며, 시장 전반의 방향은 팬데믹 데이터와 채권시장 안정에 달려 있다.
다듬은 글
Scot this news came out late this afternoon and here's what Berkshire Hathaway did they sold some of their position with Delta and Southwest and the reason they had to disclose this in an FEC filing is because they had above 10% of the shares and they had to go below 10% which required them to announce that they were selling now we don't know their final position in terms of what any other stock moves they may have made with other airline stocks that they own we have reached out to Berkshire health either way we have not heard a response from them which is not uncommon whenever they make a move regarding particular stock they never say why they decided to either buy or sell that stock but this move comes on a day when the big six airlines and other airlines as well have all applied to the federal government for a piece of the 25 billion dollars in cash grants that will be awarded to them sometime over the next week to week and a half from the federal government they have all filed those applications we're not sure who's going to end up with how much or what the the position will be from the federal government in terms of taking stock warrants or some kind of a stake in each of the airlines but what's noteworthy is two announcements today one from Delta CEO Ed Bastian where he announced that they have applied for this application they filed the application for grants and yet at the same time he says look we're still bleeding cash they're going through 60 million dollars a day and it's not much better at the other airlines JetBlue CEO Robin Hayes also announcing that they've applied for the federal cash grants they're going through ten million dollars in cash per day and to give you some sense God that things may not improve in the future today United filed an SEC 8k and in it they said that their fourth-quarter projection fourth quarter is that revenue will be down 30% that's with the recovery that's the kind of recovery they're looking at Scott 30% drop in revenue as of right now that's what they're expecting in the fourth quarter just incredible fill the boat thank you so much you have a good weekend as we did for more on the markets and a look ahead to next week let's get to Stephanie link joining us now steps good to see you we have heard from mr.
Buffett recently now we do and it's about selling millions of shares is that a sign of his belief do you think of the market at large and where it may be going well I think it's really airline specific because this industry this is just a Travis tragedy in terms of what they're going through and what kind of help they need Scott just back in January January 14th Delta reported they blew away numbers they said leisure and corporate travel were at all-time highs they talked about their Amex partnership and how much revenue that was generating they have very they have very little exposure to the Mac so they were viewed as one of the best and how the mighty have fallen just in a couple of months time this is one of the reasons why it's so hard to actually invest in the airlines because they are so cyclical they are so macro dependent but this is really incredible these stocks are down 60% they trade it three times earnings obviously people don't believe those earnings but this is like there's no visibility in sight so I can completely understand why you walk away even down this much even if you're Warren Buffett Steph take a look towards next week tell us what you're gonna be looking for oh gosh I mean next week it's all gonna be about progress on the pandemic right and to continue to see if the feds QE is providing enough liquidity I was really encouraged by credit spreads this week thawing out a little bit but we do need better data on the pandemic and I don't think we're gonna get it next week I think we're gonna get it in the coming weeks because we do have more tests and social distancing and now the CDC recommendations on the masks so I do think eventually this is going to stabilize Scott but I've said all along the volatility continues until we see a peak in virus sales so the next thing I'm watching though is that bond market we have to see continued stabilization I'm encouraged by that alone this week you
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