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10.09.26 - 17:54
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Macy′s and American Eagle Drop, JetBlue Dips | Stock Movers (Bloomberg)
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On this episode of Stock Movers:
- Macy's (M) shares are lower, erasing an earlier advance, as investors weigh much better-than-expected comparable sales and adjusted EPS in the second quarter against a less robust third-quarter guidance. The full magnitude of the 2Q beat is not reflected in the annual guidance boost.
- American Eagle (AEO) is falling after the apparel firm's second-quarter total comparable sales fell short of the average analyst estimate.
- JetBlue (JBLU) shares are falling after the airline slashed its available seat miles forecast for the third quarter. (Source: Bloomberg)...
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27.08.26 - 22:48
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JetBlue Announces Board Changes (Business Wire)
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NEW YORK--(BUSINESS WIRE)--JetBlue (NASDAQ: JBLU) today announced that two members of its board of directors, Jesse Lynn and Steven Miller, will be departing the board. The departures, which are effective immediately, are according to the terms of the agreement with Icahn Enterprises L.P. disclosed in 2024, which requires a minimum beneficial ownership of the company's outstanding shares to maintain representation on the board.
“We appreciate the constructive contributions of Jesse and Steven as we established and began to execute our JetForward strategy,” said Joanna Geraghty, chief executive officer, JetBlue. “Two years into JetForward, we're encouraged by the progress we're making and the results we're driving across the business, and we have demonstrated our confidence in our value creation opportunity through our 2028 EPS target.”
Carl C. Icahn said: “We appreciate the constructive partnership with JetBlue over the years as they have reshaped the airline and we look forward to seeing th...
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25.08.26 - 02:00
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Jet-Fuel Price Shock Hits Airlines As Raymond James Cuts Estimate Across Coverage, Warns Of JetBlue Bankruptcy Risk (ZeroHedge)
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Jet-Fuel Price Shock Hits Airlines As Raymond James Cuts Estimate Across Coverage, Warns Of JetBlue Bankruptcy Risk
As we've told readers, and as former Goldman commodities guru Jeff Currie explained last week, the energy crisis is not necessarily in Brent or WTI supplies, but in refined-product markets, given the diesel crack spread's jump above $100 a barrel last week. Early Monday, the spread was trading around $94.
The secondary effects of a global refined-products crisis are beginning to hit airline earnings, according to Raymond James analyst Savanthi Syth, who wrote in a note Monday morning that she is cutting estimates across her airline coverage universe as jet-fuel prices surge.
US Gulf Coast jet fuel prices have soared 39% quarter-to-date through Aug. 19, outpacing gains of 26% in Brent and 21% in WTI. The divergence reflects yet another rising cost for airlines already confronting higher labor costs, aircraft shortages, and operational disruptions.
"We are lowering estimates...
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