NIO - Why Hawaiian Holdings NIO and Allegiance Bancshares Jumped Today
Tuesday wasn't a great day for the stock market, as investors got nervous about the latest news from Washington. The Trump administration fired another salvo in the trade war against China, prohibiting U.S. companies from doing business with more than two dozen named Chinese companies. That move raised concerns that no resolution is likely in the two countries' trade dispute in the immediate future. Yet some stocks managed to overcome negative pressure to post solid gains. Hawaiian Holdings (NASDAQ: HA), NIO (NYSE: NIO), and Allegiance Bancshares (NASDAQ: ABTX) were among the top performers. Here's why they did so well.
Shares of Hawaiian Holdings rose 7% after the airline reported its latest traffic statistics and updated some key financial metrics. Hawaiian said it served 3.07 million passengers in the third quarter, up 1% from the year-ago period, and revenue passenger miles climbed almost 3% year over year. The company's load factor for the quarter was 87.8%, up 2.7 percentage points from the third quarter of 2018. What really made shareholders happy, though, was the boost to guidance for key third-quarter financial measures, including calls for roughly break-even operating revenue per available seat mile. As key competitors face challenges of their own, Hawaiian hopes to take advantage of strong conditions in the industry in order to maximize its success for the foreseeable future.
Image source: Hawaiian Holdings.