Delta Air Lines Stock Slides Despite Upbeat Q2

Delta Air Lines Inc (NYSE:DAL) stock is down 2.2% to trade at $87.09 this morning, reversing earlier gains despite posting a top- and bottom-line beat for the second quarter. The company also vocalized intentions to beat rising crude prices and forecast its third-quarter profits above analysts estimates. Within the past 12 months the airliner has added 40%, tapping a fresh record high of $95.68 on July 2. Yesterday the stock snapped a five-day losing streak, pivoting higher at the 20-day moving average with gains capped by the $90 ceiling. Analysts have yet to chime in on today's report, heading into the session extremely bullish toward DAL. Specifically, 22 of the 23 brokerages in coverage sport a "buy" or "strong buy" recommendation. Short sellers seem to have been retreating, off 9.6% during the past two reporting periods. This accounts for 3.8% of the stock's available float, or nearly three days' worth of pent-up buying power.