Oil prices are now 50 percent below their July high. Now that is not by any stretch the only big factor that affects airline stocks, but it is a biggie. All other things being equal, airline stocks — where I’ve put a bulk of my trading nut — are still doing crappy. They should be way up, and then I could sell and use the proceeds for all the other fire sales on the Street this week. But noooooo. I, for one, blame all of you people.
Try Southwest Airlines. Earnings release via webcast this a.m. at 10:30 CST. http://www.southwest.com.
“DALLAS, Oct. 16 /PRNewswire-FirstCall/ — Southwest Airlines (NYSE: LUV) today reported its 70th consecutive quarterly operating profit.”
“Our third quarter 2008 operating revenues of $2.9 billion were a record performance, increasing a strong 11.7 percent, or 9.3 percent per available seat mile (ASM)” -Gary Kelly, President and CEO.
If you were a Hummer, smiling.
Except you’d be discontinued.
Never mind.