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July 8, 2020, 12:38 p.m. EDT

Dow transports falls to buck broader market rally, led by United Airlines' stock selloff

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By Tomi Kilgore

The Dow Jones Transportation Average /zigman2/quotes/210598063/realtime DJT +0.88% fell 0.2% in midday trading Wednesday, to buck the gains in the broader stock market, as the shares of all six of the index's airline components fell after United Airlines Holdings Inc. /zigman2/quotes/205037281/composite UAL -1.13% reportedly warned it could furlough more than a third of its workforce. While the Dow transports fell, with 12 of 20 components losing ground, the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.44% rose 34 points, or 0.1%, with 17 of 30 components gaining. United Airlines' stock fell 2.8%, after The Wall Street Journal reported that the airline warned its employees that it could furlough 36,000 of them, and likely make them permanent job cuts, as the COVID-19 pandemic continues to weigh on travel demand. United had about 96,000 employees at the end of 2019. Among the Dow transports' other airline components, shares of American Airlines Group Inc. /zigman2/quotes/209207041/composite AAL -0.54% shed 2.4%, Delta Air Lines Inc. /zigman2/quotes/200327741/composite DAL +0.12% dropped 2.4%, Southwest Airlines Co. /zigman2/quotes/201071949/composite LUV -0.23% lost 2.2%, JetBlue Airways Corp. /zigman2/quotes/201071949/composite LUV -0.23% declined 2.0% and Alaska Air Group Inc. /zigman2/quotes/200972303/composite ALK -0.63% gave up 1.7%.

/zigman2/quotes/210598063/realtime
US : Dow Jones Indices
9,994.81
+87.33 +0.88%
Volume: 159.96M
July 31, 2020 5:07p
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/zigman2/quotes/205037281/composite
US : U.S.: Nasdaq
$ 31.38
-0.36 -1.13%
Volume: 29.61M
July 31, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$9.13 billion
Rev. per Employee
$448,946
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
26,428.32
+114.67 +0.44%
Volume: 491.37M
July 31, 2020 5:07p
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/zigman2/quotes/209207041/composite
US : U.S.: Nasdaq
$ 11.12
-0.06 -0.54%
Volume: 51.84M
July 31, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$5.66 billion
Rev. per Employee
$345,547
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/zigman2/quotes/200327741/composite
US : U.S.: NYSE
$ 24.97
+0.03 +0.12%
Volume: 17.12M
July 31, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$15.93 billion
Rev. per Employee
$499,337
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/zigman2/quotes/201071949/composite
US : U.S.: NYSE
$ 30.89
-0.07 -0.23%
Volume: 11.13M
July 31, 2020 4:00p
P/E Ratio
76.90
Dividend Yield
0.00%
Market Cap
$18.22 billion
Rev. per Employee
$373,554
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/zigman2/quotes/201071949/composite
US : U.S.: NYSE
$ 30.89
-0.07 -0.23%
Volume: 11.13M
July 31, 2020 4:00p
P/E Ratio
76.90
Dividend Yield
0.00%
Market Cap
$18.22 billion
Rev. per Employee
$373,554
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/zigman2/quotes/200972303/composite
US : U.S.: NYSE
$ 34.44
-0.22 -0.63%
Volume: 2.23M
July 31, 2020 4:00p
P/E Ratio
80.56
Dividend Yield
0.00%
Market Cap
$4.26 billion
Rev. per Employee
$353,525
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