Stock Market Today, Oct. 27: JetBlue Surges 19% on Stronger Q4 Revenue Guidance and Margin Improvement
JetBlue Airways (NASDAQ:JBLU) , a U.S. low-cost passenger airline focused on East Coast leisure and transatlantic routes, closed at $2.82, up 18.99%. Shares rose after third-quarter results and forward guidance showed stronger fourth-quarter unit revenue and margin improvement. Trading volume reached 69.8M shares, coming in about 152% above its three-month average of 27.7M shares. JetBlue Airways IPO'd in 2002 and has fallen 79% since going public. S&P 500 (SNPINDEX:^GSPC) closed at 7,723, up 0.60%, while the Nasdaq Composite (NASDAQINDEX:^IXIC) finished at 26,478, up 1.18%. Among passenger airlines , Delta Air Lines (NYSE:DAL) closed at $81.45, up 2.90%, and United Airlines Holdings (NASDAQ:UAL) closed at $104.71, up 3.99%, as investors weighed airline earnings, margin guidance, and balance-sheet relief. JetBlue needed a solid quarter after its stock had declined 43% over the last year, and the company seemed to deliver with: Continue reading