neg datapts from companies today re: deteriorating econ:

• DAL -7% said: "outlook impacted by recent reduction in consumer/corporate confidence caused by increased macro uncertainty, driving softness in Domestic demand. Premium, Int'l & loyalty revs growth trends are consistent w/expectations." Feb saw shift in GDP sentiment/output and consumer confidence coming down a bit, corp & consumer spending started to stall....

• TER -17% after warning that tariff and trade uncertainty is negatively impacting its business causing pushouts and capital budget reviews at customers - Q2 sales now seen flat to down 10% vs Q1 (street was at +7.5% growth) and 2025 revs +5-10% vs street at 14%.

• VZ -7% warned that gross adds in Q1 would be soft as industry competitive intensity remains elevated. T -5% also didn’t sound great at DB’s TMT conference.

• HelloFresh (HFG) -18% guided 2025 down -3-8% y/y vs street +3% y/y citing “weakening consumer confidence in North America” alongside uncertain impact of “potential prolonged tariffs on agricultural and packaging products”