Big smash going on this AM in the homebuilders, mortgage companies.
AA (Alcoa) earnings after close will be illustrative in terms of input costs. Top line growth will be fine, but what's it going to cost?
Airlines impacted by aviation fuel costs, duh!
Frontier, JetBlue down as sector sinks
By August Cole, CBS.MarketWatch.com
Last Update: 10:18 AM ET Jan. 8, 2004
SAN FRANCISCO (CBS.MW) -- Airline stocks retreated Thursday, with JetBlue Airways and Frontier Airlines both down sharply after the latest monthly traffic reports.
The Amex Airline Index (XX:$XAL: news, chart, profile) lost 1.7 percent.
JetBlue (JBLU: news, chart, profile) fell $2.10, or 7.2 percent, to $26.85. JetBlue's December traffic rose 43.6 percent while its load factor fell from last year, down 2.7 percentage points to 82.2 percent.
Frontier Airlines (FRNT: news, chart, profile) fell $1.37, or 9.4 percent, to $13.28. The airline reported December traffic Wednesday, with an increase of 37 percent, while its load factor rose 7.5 points from last year to 74 percent. The company said, however, that higher aviation fuel prices had a negative impact during the fiscal third quarter.
US Airways (UAIR: news, chart, profile) fell 36 cents to $6.38 after the New York Times reported that the company plans to sell some of its assets, like the US Airways Express service.
Other early decliners included Delta Air Lines (DAL: news, chart, profile), down 20 cents to $12.83. Northwest Airlines (NWAC: news, chart, profile) fell 42 cents to $13.69.
AMR (AMR: news, chart, profile) fell 26 cents to $13.69.
America West Airlines (AWA: news, chart, profile) fell 17 cents to $12.96. |
