Earlier today we pondered on just how low airline stocks were going to go today.
Well, now we know the answer and it’s not pretty.
First, to give you a hint of the extent of the carnage, the price of oil was up more than $4 a barrel today. Yep, that’s what happens when the Fed turns on the easy money spigot.
Crude closed today at 94.39.
If you think that’s bad, take a look at these stock performance numbers for the day.
US Airways — Down 13%. Closed: 15.31
American Airlines — Down 7%. Closed: 16.63
Continental Airlines — Down 10%. Closed: 24.23
Northwest Airlines — Down 9%. Closed: 16.20
JetBlue — Down 6%. Closed: 6.25
Alaska Airlines — Down 4%. Closed: 25.46
United Airlines — Down 6.5%. Closed: 36.48
Delta Air Lines — Down 8%. Closed: 15.74.
Frontier Airlines — Down 3%. Closed: 5.66.
Only a few airline stocks posted a gain today, with ABX Air taking the top honors. The beleaguered cargo carrier picked up a cool 8% today, closing at 5.11.
Ticker: (NYSE:LCC); (NYSE:AMR); (NYSE:NWA); (Nasdaq:UAUA), (Nasdaq: JBLU), (Nasdaq: FRNT); (NYSE: ALK); (NYSE: DAL);(NYSE:CAL)
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