What's Going On With Southwest Airlines Stock?

Southwest Airlines Company LUV shares are moving lower on above-average volume Tuesday. Here's a look at what's going on.

What To Know: Southwest appears to be trading lower in sympathy with Alaska Air Group Inc ALK, which reported second-quarter earnings results Tuesday morning.  

Southwest is also working to stave off a potential strike with its pilots’ labor union. The two sides have not yet reached an agreement, but talks are scheduled to continue.

On a more positive note, Southwest Airlines was awarded a government contract from the General Services Administration valued at more than $200 million for scheduled passenger air transportation last week.

According to data from Benzinga Pro, more than 9.2 million shares have been traded in Tuesday's session, compared to the stock's 100-day average of 7.2 million. LUV is trading more than 4% lower on Tuesday, but the stock remains up nearly 10% over the last three months.

Southwest Airlines will report its second-quarter 2023 financial results on Thursday before the market open and will host a conference call to discuss its results at 12:30 p.m. ET the same day. 

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LUV Price Action: According to Benzinga Pro, Southwest Airlines shares were down 4.21% at $35.64 at the time of publication.

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