|Bid||12.40 x 1000|
|Ask||12.38 x 2900|
|Day's Range||12.00 - 12.85|
|52 Week Range||7.01 - 55.21|
|Beta (5Y Monthly)||1.33|
|PE Ratio (TTM)||3.46|
|Earnings Date||Jul 22, 2020 - Jul 27, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||21.00|
Yahoo Finance’s Sibile Marcellus joins Akiko Fujita to break down how companies like Delta Airlines are changing the flight experience for travelers amid the coronavirus.
Airline shares were flying higher again on Wednesday, the sector's second straight day of posting double-digit gains on improving optimism that the U.S. economy is in the early stages of a recovery. Shares of Spirit Airlines (NYSE: SAVE) led the way at the open, jumping 18%, while shares of American Airlines Group (NASDAQ: AAL), United Airlines Holdings (NASDAQ: UAL), JetBlue Airways (NASDAQ: JBLU), Alaska Air Group (NYSE: ALK), Hawaiian Holdings (NASDAQ: HA), and Allegiant Travel (NASDAQ: ALGT) were all up double digits.
Shares of airlines pulled back Thursday, after a big rally over the previous two sessions, but continue to outperform the broader stock market over the past month as government data on airport travelers continues to show steady improvement. The Transportation Security Administration said the number of travelers going through TSA checkpoints was 261,170 on Wednesday, down 88.5% from a year ago. That marked the seventh-straight day that the number of travelers were down less than 90%, after a 56-day run of being down over 90% was snapped on May 21. The daily average for the first four days of the week starting Sunday was 283,558, up from 262,732 the previous week ended Saturday, and is set to increase for the seventh-straight week, since hitting a low of 95,674 travelers a day during the week ended Saturday, April 18. Meanwhile, the U.S. Global Jets ETF fell 1.6% in midday trading, after soaring 14.9% over the past two days. Among the ETF's most active U.S.-based components, shares of American Airlines Group Inc. fell 4.9%, United Airlines Holdings Inc. declined 4.2%, Delta Air Lines Inc. dropped 2.4%, Spirit Airlines Inc. shed 2.4% and Southwest Airlines Co. slipped 0.1%. The Jets ETF has now gained 9.6% since the daily average of travelers per week bottomed, while the S&P 500 has gained 6.2%.
Boeing is laying off over 6,700 of its U.S. workers, with "several thousand” more layoffs planned. Yahoo Finance’s Emily McCormick and Akiko Fujita discuss.
After losing over 80% of its value in three months, Spirit Airlines stock has surged more than 50% over the past week-and-a-half. However, investors should expect some bumps on the road to an eventual recovery.
Yahoo Finance’s Emily McCormick joins Akiko Fujita to discuss the outlook on air travel as states begin to reopen.
Airline stocks are rocketing higher on Tuesday morning, joining in a broader market rally as investors celebrate signs economic activity is returning to normal and promising developments in the race for the COVID-19 vaccine. Shares of Spirit Airlines (NYSE: SAVE) led the way, up more than 14% as of 10 a.m. EDT, with shares of Southwest Airlines (NYSE: LUV), United Airlines Holdings (NASDAQ: UAL), Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), Alaska Air Group (NYSE: ALK), JetBlue Airways (NASDAQ: JBLU), and Hawaiian Holdings (NASDAQ: HA) all up double digits.
Signs that air travel is rebounding could lift shares of low-cost carriers focused on the domestic market, notably Southwest Airlines and Spirit Airlines.
What happened We've been saying for weeks now that airlines, thanks in part to a government cash infusion, are in no immediate danger of liquidity issues, but the industry needs traffic to normalize in the months to come to avoid dire consequences.
Investors appear optimistic on budget carriers because their operating models seem more adaptable to travel in a post-Covid world.
Airlines have been hit hard by the COVID-19 pandemic, sending stocks crashing down and causing Warren Buffett to run for the emergency exits. During a May 12 television interview, CEO David Calhoun said a "major U.S. carrier" will "most likely" go out of business this year, predicting an extended decline in travel.
Over the past decade, this budget airline's stock price soared from $12 to $85, then sank back below $10. Yet while its near-term outlook is bleak, its long-term potential is substantial.
Shares of United Airlines Holdings (NASDAQ: UAL) closed down more than 3% on Thursday and were down 12% earlier in the trading session, as the carrier's troubles continue to mount. It was a down day for most of the airlines, but United continues to underperform. It's been a rough week for United shareholders.
Airline shares were under pressure again on Wednesday following comments from Federal Reserve Chairman Jerome Powell forecasting a long post-COVID-19 recovery that could "leave behind lasting damage" to the economy. The airlines need a quick economic rebound to avoid financial distress, and Powell's comments provided new reason for investors to worry about the viability of airline shares. As of 12:30 p.m. EDT, shares of Spirit Airlines (NYSE: SAVE) were down 14%, shares of United Airlines Holdings (NASDAQ: UAL) were off 9.8%, and shares of Delta Air Lines (NYSE: DAL), American Airlines Group (NASDAQ: AAL), and Southwest Airlines (NYSE: LUV) were all down more than 5% apiece.
Airlines that took bailout funds will now have more flexibility to cancel routes, according to new rules issued by the Transportation Department. The market seems to think it’s too little, too late.
Spirit Airlines Inc. was downgraded by Raymond James analyst Savanthi Syth, who said that while she believes the discount air carrier is set up well in the current environment, given its low-cost structure, she sees "more compelling risk-reward elsewhere." Syth cut her rating to market perform, after being at outperform since September 2019, and at strong buy before that since at least June 2017. Meanwhile, the stock rose 2.0% in premarket trading, after tumbling 7.3% on Tuesday in the wake of downbeat comments about the industry from Boeing Co. Chief Executive David Calhoun. "We continue to expect a slightly slower earnings recovery at Spirit relative to other domestic peers due to its role as a 'spill' airline and still believe, in contrast to some investors, that Spirit will be able to maintain its cost advantage even if it has to pair back operations," Syth wrote in a note to clients. The stock has tumbled 78.8% over the past three months through Tuesday, while the U.S. Global Jets ETF has tumbled 60.0% and the S&P 500 has lost 14.9%.
The coronavirus pandemic has made air travel far less appealing, which is pushing airlines to the edge of bankruptcy.
The analysts covering Spirit Airlines, Inc. (NYSE:SAVE) delivered a dose of negativity to shareholders today, by...
Investors need to pay close attention to Spirit Airlines (SAVE) stock based on the movements in the options market lately.
Despite another disappointing jobless claims report, stocks found a way to rally on Thursday. That said, here's a look at a few top stock trades for Friday. Top Stock Trades for Tomorrow No. 1: Square (SQ) Click to Enlarge Source: Chart courtesy of StockCharts.comAt first, Square (NYSE:SQ) dipped on earnings. However, bulls have reversed their fortunes, with shares ending the day on Thursday up nearly 10%.With the move, Square is likely to put in its fifth-straight week of gains. It's also reclaiming its 20-week and 50-week moving averages with the rally, and the next stop may very well be the $82.50 area.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThere it finds multi-year resistance and a level that has been relevant for nearly two years. Above that will put the $100 level on investors' radar, which was approximately the high from 2018.On the downside, though, it would be encouraging to see the 20-week and 50-week moving averages act as support. Top Stock Trades for Tomorrow No. 2: Spirit Airlines (SAVE) Click to Enlarge Source: Chart courtesy of StockCharts.comSpirit Airlines (NYSE:SAVE) is not having a favorable post-earnings reaction, ending Thursday down 9%. However, there is a bright side here, which is that shares are clinging to this $10 area.Above it now, bulls want to see shares hold the $10 area as support. That's not much of a silver lining, but it beats the alternative. Should Spirit fail to do this, it keeps a test of the lows near $7.50 in play.Personally, there's nothing here that looks attractive on the long side yet -- it's too early. Investors can either way for a dip down to lower prices or wait for SAVE to rotate over Thursday's high. Above puts a gap-fill up toward $11.50 in play.Ultimately, airlines are not the easiest group to trade at the moment. Top Stock Trades for Tomorrow No. 3: Lyft (LYFT) Click to Enlarge Source: Chart courtesy of StockCharts.comLyft (NASDAQ:LYFT) shares are surging on Thursday, climbing more than 20% on better-than-expected earnings. That's even as shares pull back significantly off the session high.For now, the $32.50 to $35 area is acting as resistance, which comes as little surprise to those who follow the charts. However, that's good for traders, because it lays out a clear roadmap.If Lyft can clear $32.50, it puts $35 in play. Above $35 puts $40 in play, along with the 200-day moving average.If it can't push through $32.50, however, then the 20-day and 50-day moving averages are on the table near $29. Below puts uptrend support (blue line) in play. Top Stock Trades for Tomorrow No. 4: Uber (UBER) Click to Enlarge Source: Chart courtesy of StockCharts.comLyft's report gave Uber (NYSE:UBER) a bounce on the day, with shares rising more than 11%. However, it's getting a fierce rejection from the 200-day moving average.On a bullish reaction, let's see if Uber can reclaim the 200-day moving average and rally up to $34. Over $34 puts the $36 to $38 zone in play, followed by a gap-fill up to $40.On the downside, though, I really want to see the $27 to $28 area hold. There Uber finds prior multi-month resistance, the 20-day and 50-day moving averages and uptrend support (blue line).A break below puts $24 on the table.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * America's 1 Stock Picker Reveals Next 1,000% Winner * 25 Stocks You Should Sell Immediately * 1 Under-the-Radar 5G Stock to Buy Now * The 1 Stock All Retirees Must Own The post 4 Top Stock Trades for Friday: SQ, SAVE, LYFT, UBER appeared first on InvestorPlace.