In any tight industry grouping, stocks can benefit handsomely when one of their own does well.
That was the dynamic at play on Wednesday, when both JetBlue Airways (NASDAQ: JBLU) and United Airlines Holdings (NASDAQ: UAL) rose at market-beating rates. The former's share price increased by over 4%, while the latter's enjoyed a nearly 6% gain. This was due in no small part to a rival's encouraging quarterly results.
That rival is industry veteran Delta Air Lines , which reported its first-quarter earnings on Wednesday. Yes, the company reported a loss but it was narrower than expected by analysts, while revenue was significantly higher.
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Why JetBlue and United Stocks Were Ascending Today