Why JetBlue Stock Is Flying High Today
A day after shares of JetBlue Airways (NASDAQ: JBLU) fell following disappointing earnings and guidance, the stock is bouncing back nicely on some positive analyst commentary, up 6% as of 3:11 p.m. ET on hopes that continued strong demand for air travel can offset a tricky cost environment.
JetBlue's second quarter gave little reason for investors to get excited. The company lost more money than analysts had expected on revenue that came in slightly under expectations, and JetBlue warned that cost pressures are likely to continue through the rest of the year.
But it is notable that the revenue, though below expectations, was still up 16% compared to the same three months of 2019. And strong demand for air travel seems to be holding steady despite inflation fears, giving airlines pricing power heading into the remainder of the year.
Source Fool.com
