: Hawaiian Airlines stock tumbles, while shares of its airline peers rally
Shares of Hawaiian Holdings Inc. HA, the parent of Hawaiian Airlines, dove 9.3% in afternoon trading Monday, to buck the rally in its air-carrier peers. The company has not released any news Monday, or filed anything with the Securities and Exchange Commission. The company did not immediately respond to a request for comment. Meanwhile, the U.S. Global Jets exchange-traded fund JETS rose 0.1% in afternoon trading, and the Dow Jones Transportation Average DJT climbed 1.7%, with shares of all six of its airline components trading higher. Among Hawaiian’s more-active peers, shares of American Airlines Group Inc. AAL rose 0.9%, JetBlue Airways Corp. JBLU climbed 2.2%, Delta Air Lines Inc. DAL tacked on 0.5%, United Airlines Holdings Inc. UAL advanced 1.7% and Southwest Airlines Co. LUV gained 0.4%. Raymond James analyst Savanthi Syth said Monday that while she expects travel demand to moderate in the second half of the year, that will likely be partially offset by lower fuel costs. “We continue to believe airline stocks would perform well in a shorter and/or shallow downturn (albeit, perhaps not in the very [near term]),” Syth wrote in a note to clients.
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