Stock Market Today, June 15: JetBlue Airways Rises After Raising Second-Quarter Unit-Revenue Outlook
JetBlue’s upgraded outlook gives the rally a clearer catalyst, but investors still need evidence that the turnaround can hold beyond stronger unit revenue.
Stock Market Today, June 15: JetBlue Airways Rises After Raising Second-Quarter Unit-Revenue Outlook
Overview
JetBlue Airways (NASDAQ:JBLU), a carrier providing air transportation across the U.S. Caribbean, Latin America, Canada, and Europe, closed Monday at $5.36, up 6.99%. The stock moved higher as sector optimism and upgraded second-quarter revenue guidance boosted sentiment, and investors are watching how stronger RASM growth and capacity expansion sustain the turnaround narrative.
The company’s trading volume reached 44.5 million shares, which is about 56% above compared with its three-month average of 28.5 million shares. JetBlue Airways went public in 2002 and has fallen 60% since its IPO.
Details
S&P 500 (SNPINDEX:^GSPC) gained 1.65% to finish Monday at 7,554.29, while the Nasdaq Composite (NASDAQINDEX:^IXIC) advanced 3.07% to close at 26,684. Within airlines, industry peer Southwest Airlines (NYSE:LUV) closed at $46.08, up 1.34%, as carriers tracked improving demand and lower fuel-price expectations.
Source
Originally published at www.fool.com.
