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Winter Storm Stella, better yet known as that blizzard you can’t believe is hitting in mid-March, crashed into the East Coast on Tuesday, giving much of the region all of the snow it had missed in the prior months. With weather conditions like this, it’s no surprise that over 8,000 flights have been canceled since Sunday.
Almost all flights were canceled at the three main airports that service New York City: JFK, La Guardia, and Newark Liberty. Similar disruptions affected airports in Boston, Baltimore, Philadelphia, Washington Dulles, and Washington Reagan National. Even Chicago was seeing storm-related cancellations continue for a second consecutive day at both O’Hare and Midway.
As a result, the airline industry has taken a hit, with each of the legacy carriers seeing their stocks fall in morning trading. United Continental (UAL - Free Report) is down about 3.5%, American Airlines (AAL - Free Report) is down 3%, and Delta Airlines (DAL - Free Report) is down 2.4% so far Tuesday, while discount airliners Southwest (LUV - Free Report) is down 2.22%, JetBlue (JBLU - Free Report) is down 1.6%, and Spirit (SAVE - Free Report) is down 2.36%. Even the U.S. Global Jets ETF (JETS - Free Report) , which tracks the performance of airline companies around the globe, has slid about 2% today.
Recovery speed at airports all depend on whether Stella is as bad as forecasts. Initially, up to 18 inches were predicted across much of the region, but some forecasts are now suggesting rain and sleet may mix in, which will lower snow totals.
Blizzard warnings and winter storm warnings remain in effect from the northern Mid-Atlantic all the way through the Northeastern U.S., though a blizzard warning has been lifted in New York.
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
Image: Bigstock
Winter Storm Stella Blasts Airline Industry, Sending Stocks Tumbling
Winter Storm Stella, better yet known as that blizzard you can’t believe is hitting in mid-March, crashed into the East Coast on Tuesday, giving much of the region all of the snow it had missed in the prior months. With weather conditions like this, it’s no surprise that over 8,000 flights have been canceled since Sunday.
Almost all flights were canceled at the three main airports that service New York City: JFK, La Guardia, and Newark Liberty. Similar disruptions affected airports in Boston, Baltimore, Philadelphia, Washington Dulles, and Washington Reagan National. Even Chicago was seeing storm-related cancellations continue for a second consecutive day at both O’Hare and Midway.
As a result, the airline industry has taken a hit, with each of the legacy carriers seeing their stocks fall in morning trading. United Continental (UAL - Free Report) is down about 3.5%, American Airlines (AAL - Free Report) is down 3%, and Delta Airlines (DAL - Free Report) is down 2.4% so far Tuesday, while discount airliners Southwest (LUV - Free Report) is down 2.22%, JetBlue (JBLU - Free Report) is down 1.6%, and Spirit (SAVE - Free Report) is down 2.36%. Even the U.S. Global Jets ETF (JETS - Free Report) , which tracks the performance of airline companies around the globe, has slid about 2% today.
Recovery speed at airports all depend on whether Stella is as bad as forecasts. Initially, up to 18 inches were predicted across much of the region, but some forecasts are now suggesting rain and sleet may mix in, which will lower snow totals.
Blizzard warnings and winter storm warnings remain in effect from the northern Mid-Atlantic all the way through the Northeastern U.S., though a blizzard warning has been lifted in New York.
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
One has driven from 0 to a $68 billion valuation in 8 years. Four others are a little less obvious but already show jaw-dropping growth.Download this IPO Watch List today for free >>