Airline Stocks in Focus After J.P. Morgan Upgraded LCC, UAUA, Downgraded JBLU, AAI
Today, Airline stocks started the day with handsome gains and all the major stocks are trading with a gain of 6%-20% after J.P. Morgan raised its ratings on UAL and US Airways, saying better-than-expected passenger demand, cooperating with lower jet fuel prices and mild weather, has helped to vanquish a lot of the anxiety over potential bankruptcies among the legacy carriers.
UAL Corporation (NASDAQ: UAUA) gains the most and jumped up $1.31 or 20.31% to $7.77 on huge volume of 14.25 million shares. US Airways Group, Inc. (NYSE: LCC) surged 13.41% and trading at $4.06 with a volume of 15.78 million shares. Other movers includes Delta Air Lines, Inc. (NYSE: DAL) soared 10.23% to $8.08, Continental Airlines, Inc. (NYSE: CAL) increased 8.02% to $14.77.
However, JetBlue Airways Corporation (NASDAQ: JBLU) and AirTran Holdings, Inc. (NYSE: AAI) are trading marginally up after J.P. Morgan downgraded neutral from underweight and both these stocks.
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Posted-In: Movers