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Alaska Air Group latest news:
Airline stocks fall after J.P. Morgan downgraded United Continental, American and Spirit
The airline sector took a hit Friday, after J.P. Morgan downgraded some key players on concerns that rising fuel prices and continued pricing weakness make current earnings expectations unachievable. Shares of United Continental Holdings Inc. dropped 3.0%, Spirit Airlines Inc. fell 2.4% and American Airlines Group Inc. shed 0.8%, after analyst Jamie Baker downgraded all three air carriers to neutral from overweight. Elsewhere, shares of Alaska Air Group Inc. lost 2.7% and Delta Air Lines Inc. eased 0.2%. Bucking the trend, Southwest Airlines Co.'s stock , inched up less than 0.1%, after Baker upgraded the carrier to overweight from neutral, saying the recent selloff--down 15% over the past two months--makes the risk-versus-reward profile attractive for investors. JetBlue Airways Corp.'s stock tacked on 0.1%, after Baker raised his price target to $29 from $26, citing easier unit revenue comparisons and moderated capacity growth. The NYSE Arca Airline Index fell 0.7%. The sector tracker has shed 6.1% over the past three months, while the S&P 500 has gained 2.7%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
UPDATE 2-Alaska Air quarterly profit jumps 13.8 pct, but shares fall
July 26 (Reuters) - Alaska Air Group Inc on
Wednesday posted a 13.8 percent rise in quarterly profit, helped
in part by the December 2016 acquisition of former rival Virgin
Dow transports dragged down by Norfolk Southern, Alaska Air stocks
The Dow Jones Transportation Average slumped 46 points, or 0.5%, in midday trade Wednesday, to take some of the shine of the Dow Jones Industrial Average's triple-digit point rally to record highs, following disappointing results from Norfolk Southern Corp. and Alaska Air Group Inc. . Shares of Alaska Air slumped $2.74, or 3.1%, after the air carrier missed earnings expectations while was roughly in line, according to FactSet. The stock's price decline was shaving about 17 points off the Dow transports' price. Meanwhile, Norfolk Southern shares shed $3.47, or 2.9%, after the railroad company beat profit expectations but just matched on sales. The price drop was reducing the Dow transports by about 21 points. The Dow transports have gained 4.4% year to date, while the Dow industrials have rallied 9.9%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Seattle turf war: Delta expands on more Alaska Air routes
The pace of the Seattle showdown between Delta and Alaska Airlines appears to have slowed since this winter, but the turf war is not over.
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