We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
JetBlue Sees Uptick in Revenue & Booking Trends, Shares Up
Read MoreHide Full Article
Shares of JetBlue Airways Corporation (JBLU - Free Report) gained 2.3% at the close of business on Sep 22, following an upbeat update on its third-quarter 2020 performance.
In a SEC filing, the airline revealed that the company “has seen modest improvement in revenue and booking trends, driven by visiting friends and relatives and leisure demand” since August. Owing to this tailwind as well as cost-reduction measures and capacity cuts, the carrier anticipates average daily cash burn to be at the low end of the guided range of $7-$9 million for the third quarter.
Meanwhile, JetBlue expects scheduled capacity to decline approximately 55% year over year in the current quarter. Previously, the company had planned for a decrease of at least 45% year over year in the same period. The carrier expects to continue managing capacity on a rolling basis as coronavirus keeps air-travel demand suppressed.
Although travel demand is significantly below year-ago levels, to take advantage of the gradually improving leisure-travel demand, JetBlue recently announced 24 new non-stop services. From Nov 19, 2020, JetBlue will initiate services connecting Newark Liberty International Airport, Aruba Queen Beatrix International Airport, Cancún International Airport, Jamaica Sangster International Airport, Bahamas Lynden Pindling International Airport, Caicos Providenciales International Airport, Punta Cana International Airport and Saint Maarten Princess Juliana International Airport.
Shares of ArcBest, JB Hunt and Knight-Swift have rallied 6.1%, 10.4% and 14%, respectively, so far this year.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
JetBlue Sees Uptick in Revenue & Booking Trends, Shares Up
Shares of JetBlue Airways Corporation (JBLU - Free Report) gained 2.3% at the close of business on Sep 22, following an upbeat update on its third-quarter 2020 performance.
In a SEC filing, the airline revealed that the company “has seen modest improvement in revenue and booking trends, driven by visiting friends and relatives and leisure demand” since August. Owing to this tailwind as well as cost-reduction measures and capacity cuts, the carrier anticipates average daily cash burn to be at the low end of the guided range of $7-$9 million for the third quarter.
Meanwhile, JetBlue expects scheduled capacity to decline approximately 55% year over year in the current quarter. Previously, the company had planned for a decrease of at least 45% year over year in the same period. The carrier expects to continue managing capacity on a rolling basis as coronavirus keeps air-travel demand suppressed.
JetBlue Airways Corporation Price
JetBlue Airways Corporation price | JetBlue Airways Corporation Quote
Although travel demand is significantly below year-ago levels, to take advantage of the gradually improving leisure-travel demand, JetBlue recently announced 24 new non-stop services. From Nov 19, 2020, JetBlue will initiate services connecting Newark Liberty International Airport, Aruba Queen Beatrix International Airport, Cancún International Airport, Jamaica Sangster International Airport, Bahamas Lynden Pindling International Airport, Caicos Providenciales International Airport, Punta Cana International Airport and Saint Maarten Princess Juliana International Airport.
Zacks Rank & Key Picks
JetBlue carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader Transportation sector are ArcBest Corporation (ARCB - Free Report) , JB Hunt Transport Services Inc (JBHT - Free Report) and Knight-Swift Transportation Holdings Inc (KNX - Free Report) . While ArcBest sports a Zacks Rank #1 (Strong Buy), JB Hunt and Knight-Swift carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of ArcBest, JB Hunt and Knight-Swift have rallied 6.1%, 10.4% and 14%, respectively, so far this year.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>