What to know in markets Wednesday

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Earnings from Delta Air Lines (DAL) and AT&T (T) will take center stage Wednesday.

The airline industry has been one of the hardest hit amid the COVID-19 pandemic. Travel demand got hammered over recent months and major U.S. airlines have had to slash capacity in an attempt to preserve cash. Investors will be focusing on commentary from Delta’s management Wednesday morning for any updates on how the company is dealing with the ongoing pandemic.

Delta is expected to report an adjusted loss per share of 87 cents on $9.19 billion in revenue during Q1. On April 4, Delta said that it was burning through $60 million of cash per day and expected second-quarter revenue to fall 90%. Much like the rest of the companies reporting this earnings season, Delta’s big picture and guidance will matter more much than the company’s financial results during the previous quarter.

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