Steel companies such as United States Steel (X) and AK Steel (AKS) are trading with massive year-to-date losses. Both of these stocks more than quadrupled last year.
Five (38.5%) of the analysts tracking Spirit Airlines (SAVE) right now have issued a “strong buy” rating. Three (23.1%) of the analysts have issued a “buy” rating.
Spirit Airlines’ (SAVE) capacity growth has outpaced traffic growth for the past eight months, and during the same period, its utilization has declined.
Early in May 2017, Spirit Airlines (SAVE) ended up canceling more than 300 flights due to a pilot strike.
Spirit Airlines’ (SAVE) traffic grew 6.6% YoY (year-over-year) in May 2017—much slower than its 9.0% YoY capacity growth for the same month.
In May 2017, Spirit Airlines’ (SAVE) capacity grew 9.0% YoY, which was slower than its 12.9% YoY growth in April 2017.
These factors likely contributed to the early exit of Immelt, who will retire from the company entirely on December 31, 2017.
On June 12, General Electric (GE) announced the stepping down of its chairman and CEO, Jeff Immelt, effective August 1, 2017.
In May 2017, China’s manufacturing PMI (Purchasing Managers’ Index) was 51.2, which was higher than the expectation of 51.0.
In May 2017, auto sales in China fell 0.10% year-over-year to 2.1 million. Automobile sales are a key indicator of China’s economic health.
China’s total exports rose 8.7% YoY (year-over-year) in May 2017, which was higher than April’s rise of 8.0%.
In this series, we’ll look at important Chinese economic data that impact the crude oil tanker industry. China imports most of its oil through crude oil tankers.
Although global steel prices have weakened this year, steel bulls expect the probe into steel imports to provide some sort of relief for US steel plays.
Based on current consensus estimates, analysts expect U.S. Steel Corporation to post EBITDA of $957 million this year.
During its 1Q17 earnings call, U.S. Steel Corporation downwardly revised its 2017 EBITDA guidance to $1.1 billion from $1.3 billion.
There’s a lot of divergence in analysts’ opinions about U.S. Steel Corporation. J.P. Morgan has been bullish and Axiom Capital has been leading the bears.
Since its traffic release on June 12, 2017, JetBlue Airways (JBLU) is the only major airline to record a gain. The stock has risen 1.2%.
Currently, 13.3% (or two) of the analysts tracking JetBlue Airways (JBLU) stock have a “strong buy” rating. About 40.0% (or six) of them have a “buy” rating.
JetBlue Airways’ traffic growth has lagged its capacity growth in two of the five months of 2017. So its utilizations have also fallen.
Year-to-date as of April 2017, JetBlue’s global passenger travel demand has grown 10.7% YoY. That’s the highest growth for the past six years.