Airline Stocks Crater
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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