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An assertive set of recommendation downgrades of airline stocks by a researcher was a major factor in the decline of Southwest Airlines (LUV -5.96%) stock on Tuesday. Of the four carriers that received a chop, Southwest was one of only two that was demoted to underperform, or sell.
On Tuesday investment banking company Jefferies downgraded its rankings on Delta, American Airlines, Southwest Airlines, and Air Canada. This has caused airline stocks to trade significantly lower today with Delta down over 3%, Southwest Airlines down over 5%, and American Airlines down around 2.9%.
Airline stocks slumped Tuesday after Jefferies analysts lowered their ratings for three of the four major U.S. carriers, writing “consumer sentiment continues to disappoint.”
Airline stocks traded lower Tuesday. Concerns are growing about travel demand, with a decline in spending and consumer confidence.
It was a turbulent and ultimately terrible first quarter for airline stocks. The second quarter may not be much better for the industry.
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As shares slipped lower early Friday following hotter-than-expected PCE data, Alex Coffey looks at two airlines stocks. For Southwest Airlines (LUV), Alex uses an example options trade that skews more bullish.
Southwest Airlines is undergoing significant changes, including product reconfiguration, charging for more checked bags, and adding red-eye flights to boost revenue and schedule competitiveness. Operational reliability is strong, and the company expects $1.5 billion in EBIT improvements by 2025, despite employee and customer adaptation challenges. Southwest's strong balance sheet and Boeing 737 MAX order book are key assets, with potential cost savings from ending fuel hedging and fleet modernization.
Here is how Southwest Airlines (LUV) and Grupo Aeroportuario del Centro Norte (OMAB) have performed compared to their sector so far this year.