Afternoon Market Update (DAL, PNCL, FOE, HD, LOW)

Delta Air Lines DAL has planned to sell its two regional subsidiaries for a total value of $82.5 million. It has made this decision to get rid of the less profitable routes. The company would sell Mesaba to Pinnacle Airlines Corp PNCL for $62 million and Compass Airlines to Trans States Holdings for $20.5 million. Ferro Corporation FOE has appointed Thomas Miklich as its new Vice President and Chief Financial Officer (CFO) in place of Sallie Bailey, who is stepping down on July 2. Miklich had earlier held the CFO posts in Titan Technology Partners, OM Group Inc, Invacare Corporation, Van Dorn Company and Sherwin-Williams Co. Sallie Bailey will leave her post on July 2. Analysts at BMO Capital Markets upgraded home-improvement retailers Home Depot Inc HD and Lowe's Cos LOW from “underperform” to “market perform.” Home Depot stock is down 24% from its 52-week high, while LOW has dipped 28% from its 52-week highs. Analyst Wayne Hood said the stocks have a "more favorable balance of upside to downside risk." Read more from Benzinga's Company news.