Shares of airline companies jumped in premarket trading Wednesday, after President Trump said he would immediately sign individual stimulus measures (American Airlines Group Inc. (AAL) rallied 4.0%, United Airlines Holdings Inc. (UAL) climbed 4.6%, Delta Air Lines Inc. (DAL) hiked up 3.5%, Spirit Airlines Inc. (SAVE) rose 4.1% and Southwest Airlines Co. (LUV) gained 2.5%. Shares of JetBlue Airways Corp. (JBLU) ran up 6.0%, as they got a further boost from a double upgrade from J.P. Morgan, as analyst Jamie Baker swung to an overweight rating from underweight, saying "risk/reward if favorable at current valuation levels." The U.S. Global Jets ETF (JETS), which advanced 2.5% in the premarket, has tumbled 45.5% year to date through Tuesday, while the S&P 500 has gained 4.0%.) sent to him, including $25 billion in airline payroll support. Among the most active airline stocks ahead of the open,
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
October 07, 2020 08:40 ET (12:40 GMT)
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