Airline stocks have taken off after strong earnings guidance from Delta, and some market watchers see more runway ahead of the group.
div > div.group > p:first-child"> High-profile names including American Airlines, United Continental and JetBlue Airways are rallying this week, with the NYSE Airline Index up about 2.5 percent since Monday. They moved higher again Tuesday after an upbeat earnings pre-announcement from Delta Air Lines, which told investors that healthy demand and lower costs would contribute to higher-than-expected first-quarter results.
"One of the things that has happened within the industry as a whole is they've been able to reduce capacity, so airlines actually have a little pricing power. So we're starting to see increased revenue per passenger as well as increased ticket lines, and just a growing demand in the economy and growing airline demand," she said."And ... it's not just one company."
"It's maybe getting a little overbought," he said on"Trading Nation.""It looks good, it's broken out of a sideways range that it had been in for about two months, and it's broken back above its multiyear trend line. But it's getting overbought on a near-term basis, so even though it looks pretty good, it may need to take a bit of a breather."
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