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April 28, 2020, 3:22 p.m. EDT

Airline stocks see sharp gains, after Southwest's results and capital raise, gradual state reopenings

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By Tomi Kilgore

Share of airline companies soared Tuesday, as Southwest Airlines Co.'s /zigman2/quotes/201071949/composite LUV +0.65% not-to-bad results and capital raise, and gradual reopenings by states helped provide a tailwind. The U.S. Global Jets ETF /zigman2/quotes/207744796/composite JETS +1.21% shot up 7.8% in afternoon trading, with 28 of 33 components gaining ground. Among the most-active components, shares of American Airlines Group Inc. /zigman2/quotes/209207041/composite AAL +4.42% ran up 13%, Delta Air Lines Inc. /zigman2/quotes/200327741/composite DAL +2.65% hiked up 9.8%, and United Airlines Holdings Inc. /zigman2/quotes/205037281/composite UAL +4.46% ran up 10.0%. Southwest's stock rallied 2.3%, to reverse earlier losses of as much as 3.0%. Earlier, Southwest reported a narrower-than-expected loss but revenue that missed expectations, and also announced a public offering of 55 million shares and $1 billion worth of convertible debt. Elsewhere, shares of Hawaiian Airlines parent Hawaiian Holdings Inc. /zigman2/quotes/203188135/composite HA +3.23% climbed 16% after the company disclosed details of the government aid it received and was still expecting to receive. Shares of Jetblue Airways Corp. /zigman2/quotes/207639051/composite JBLU +2.04% gained 11% and Spirit Airlines Inc. /zigman2/quotes/205782179/composite SAVE +3.12% advanced 16%. The Jets ETF has lost 53% over the past three months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.60% has declined 12%.

/zigman2/quotes/201071949/composite
US : U.S.: NYSE
$ 37.10
+0.24 +0.65%
Volume: 9.30M
Sept. 25, 2020 4:00p
P/E Ratio
92.36
Dividend Yield
0.00%
Market Cap
$21.88 billion
Rev. per Employee
$373,554
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/zigman2/quotes/207744796/composite
US : U.S.: NYSE Arca
$ 16.76
+0.20 +1.21%
Volume: 2.85M
Sept. 25, 2020 4:00p
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/zigman2/quotes/209207041/composite
US : U.S.: Nasdaq
$ 12.29
+0.52 +4.42%
Volume: 43.76M
Sept. 25, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$6.25 billion
Rev. per Employee
$345,547
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/zigman2/quotes/200327741/composite
US : U.S.: NYSE
$ 29.78
+0.77 +2.65%
Volume: 21.83M
Sept. 25, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$19.00 billion
Rev. per Employee
$499,337
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/zigman2/quotes/205037281/composite
US : U.S.: Nasdaq
$ 34.20
+1.46 +4.46%
Volume: 21.46M
Sept. 25, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$9.95 billion
Rev. per Employee
$448,946
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/zigman2/quotes/203188135/composite
US : U.S.: Nasdaq
$ 12.80
+0.40 +3.23%
Volume: 923,389
Sept. 25, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$588.76 million
Rev. per Employee
$391,501
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/zigman2/quotes/207639051/composite
US : U.S.: Nasdaq
$ 11.53
+0.23 +2.04%
Volume: 9.35M
Sept. 25, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$3.14 billion
Rev. per Employee
N/A
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/zigman2/quotes/205782179/composite
US : U.S.: NYSE
$ 16.20
+0.49 +3.12%
Volume: 5.32M
Sept. 25, 2020 4:00p
P/E Ratio
89.11
Dividend Yield
N/A
Market Cap
$1.44 billion
Rev. per Employee
$431,115
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/zigman2/quotes/210599714/realtime
US : S&P US
3,298.46
+51.87 +1.60%
Volume: 0.00
Sept. 25, 2020 5:06p
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