United Airlines Holdings, Inc. premarket drops 1.15% due to Q3 profit forecast miss and excess capacity concerns.

United Airlines Holdings, Inc. experienced a premarket decline of 1.15% due to the airline's lower-than-expected Q3 profit outlook. United Airlines projected an adjusted profit of $2.75 to $3.25 per share for the quarter, which fell short of Wall Street's expectations of $3.44. The weak profit outlook was attributed to excess seat capacity in the domestic market, reducing pricing power, and rival airlines like Delta also reporting lower Q3 forecasts. This comes amidst a rotation out of tech-related stocks and concerns over trade tensions with China affecting the broader market, including the airline industry.