JetBlue extends rally; airlines gain
By Shawn Langlois, MarketWatch
Last Update: 4:11 PM ET Apr 26, 2006
SAN FRANCISCO (MarketWatch) — JetBlue Airways' shares clawed back to finish in positive territory on Wednesday, extending the prior session's gains and helping the sector finish higher.
The Amex Airline Index moved up fractionally to close at 51.1 points, as the price of crude oil backed away from last week's record levels. See full story.
JetBlue (JBLU: 0.00, 0.00, 0.0% ) stood out among decliners early, but ended up 8 cents at $10.72. The low-cost carrier's first-quarter results, which came out on Tuesday, surpassed Wall Street targets.
Also, JetBlue's plans to curtail growth gave rise to hopes it can make money even as fuel prices escalate. See full story.
Unable to breach positive ground, UAL Corp. (UAUA: 35.76, -0.14, -0.4% ) , ExpressJet Holdings (XJT: 5.76, -0.09, -1.5% ) Southwest Airlines (LUV: 0.00%, 0.00%, 0.00%) and Alaska Air Group all closed lower.
Frontier Airlines (FRNT: 6.92, +0.12, +1.8% ) , and Mesa Air Group (MESA: 0.00, 0.00, 0.0% ) paced advancers, up 1.8% and 1%, respectively
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