Airline Stocks The Only Bright Spot In Transport Sector -- MarketWatch
Dow Jones Newswires | July 08, 2019 01:17:00 PM ET
The Dow Jones Transportation Average slumped 98 points, or 0.9%, with 15 of 20 components trading higher, with all 5 gainers the shares of airline companies. The biggest gainer was Delta Air Lines Inc.'s stock (DAL), which rose 1.0% in afternoon trading. Cowen analyst Helane Becker reiterated her bullish outperform rating on Delta, saying her research indicates the air carrier is tracking toward the high end of earnings-per-share expectations, due to strong demand, pricing, moderate fuel costs and cost controls. Delta is scheduled to report second-quarter results on Thursday. Of the Dow transports other 5 airline components, shares of JetBlue Airways Corp. (JBLU) rose 0.8%, Alaska Air Group Inc. (ALK) gained 0.4%, American Airlines Group Inc. (AAL) edged up 0.2% and United Airlines Holdings Inc. (UAL) tacked on 0.1%, while Southwest Airlines Co. shares (LUV) slipped less than 0.1%. The NYSE Arca Airline Index gained 0.1%, while the Dow Jones Industrial Average fell 121 points, or 0.5%.
-Tomi Kilgore For more from MarketWatch: marketwatch.com