Why JetBlue and United Stocks Were Ascending Today
In any tight industry grouping, stocks can benefit handsomely when one of their own does well.
That was the dynamic at play on Wednesday, when both JetBlue Airways (NASDAQ: JBLU) and United Airlines Holdings (NASDAQ: UAL) rose at market-beating rates. The former's share price increased by over 4%, while the latter's enjoyed a nearly 6% gain. This was due in no small part to a rival's encouraging quarterly results.
That rival is industry veteran Delta Air Lines, which reported its first-quarter earnings on Wednesday. Yes, the company reported a loss but it was narrower than expected by analysts, while revenue was significantly higher.
Source Fool.com
