Southwest Airlines expects to add red-eye flights in about two years
Seeking Alpha News (Mon, 25-Mar 1:22 PM ET)
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SOUTHWEST AIRLINES ANNOUNCES TENTATIVE AGREEMENT WITH TWU 555
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Southwest Airlines is the largest domestic air carrier in the United States by passengers boarded. Southwest operates over 700 aircraft in an all-Boeing 737 fleet. Despite offering some longer routes and a few perks for business travelers, the airline predominantly specializes in short-haul, leisure flights, using a point-to-point network. Southwest operates a low-cost carrier business model.
Southwest Airlines Company trades on the NYSE stock market under the symbol LUV.
As of March 28, 2024, LUV stock price climbed to $29.33 with 992,805 million shares trading.
LUV has a beta of 1.45, meaning it tends to be more sensitive to market movements. LUV has a correlation of 0.21 to the broad based SPY ETF.
LUV has a market cap of $17.48 billion. This is considered a Large Cap stock.
Last quarter Southwest Airlines Company reported $7 billion in Revenue and $.37 earnings per share. This beat revenue expectation by $82 million and exceeded earnings estimates by $.26.
In the last 3 years, LUV stock traded as high as $64.75 and as low as $21.91.
The top ETF exchange traded funds that LUV belongs to (by Net Assets): VTI, VOO, VO, SPY, IVV.
LUV has underperformed the market in the last year with a return of -0.3%, while the SPY ETF gained +33.7%. In the last 3 month period, LUV fell short of the market, returning +1.0%, while SPY returned +10.2%. However, in the most recent 2 weeks LUV has outperformed the stock market by returning +3.7%, while SPY returned +1.7%.
LUV support price is $28.79 and resistance is $29.75 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that LUV stock will trade within this expected range on the day.