American Airlines stock dives after profit outlook raised, but disappoints Wall Street

Shares of American Airlines Group Inc. were rocked Wednesday, after the air carrier raised its profit outlook, but not by enough to match Wall Street expectations.

The company said before the open that it expects first-quarter adjusted earnings per share of 1 cent to 5 cents, compared with a per-share loss of $2.32 a year ago. While that’s better than previous guidance for an “approximately breakeven” quarter, the average EPS estimate of analysts surveyed by FactSet was 5 cents.

The…