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JBLU trading at $5.81 is within striking distance of its 52-week high. |
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Released on Friday, January 27, 2012, 8:00 PM ET
Pittsburgh, PA (SpeculatingStocks) - JetBlue Airways Corporation (NASDAQ:JBLU) is ready to reach a new 52-week high after reporting net income of $23 million for the quarter ended Dec. 31, 2011. This is compared to net income of $8 million for the same quarter a year earlier. Revenue rose 22 percent to $1.15 billion.
JBLU credits milder weather in driving up passenger numbers and decreasing scheduling issues. The winter in the Northeast has been unseasonably mild with significant less snowfall and cold than last year. This is the stroke of luck that JetBlue and the airlines have needed. It also looks like the trend of an unseasonably mild winter will continue for the Northeast and could have a benefit to JBLU's Q1 numbers as well.
The company commented that its Q1 capacity will increase between 9.5% and 11.5% as well, another good sign.
JBLU was listed as one of the airlines that could benefit from the American Airlines bankruptcy in an article we released last November titled "Airlines Benefiting from American Airlines."
JBLU now trading at $5.81 is within striking distance of its 52-week high of $6.45. There is major resistance at points slightly below its 52-week high. If JBLU manages to breakthrough, it could see blue sky.
We believe that JBLU could have the legs to see multi-year highs.
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