American Airlines, Host Hotels and Southwest Airlines were the top three S&P 500 index gainers on the stock market today. AbbVie, JPMorgan Chase and PayPal were the S&P 500's biggest losers on Wednesday.
AAL stock surged 10.6% to 18.95, back above its 200-day line for the first time in five months. American Airlines and other airline stocks soared Wednesday on Delta Air Lines earnings and guidance. DAL stock popped 6.2%. On Tuesday, American Airlines slightly raised Q1 revenue guidance, with earnings due next week.
HST stock leapt 8.1% to 19.70, vaulting back above its 50-day line and close to a recent three-year high. Host Hotels & Resorts is a hotel-based REIT with properties in North America, Brazil and Australia. Hotel stocks also rallied on Delta's results and comments.
LUV stock popped 7.5% to 46.05, gapping above its 50-day line but below its 200-day.
S&P 500 Losers
ABBV stock fell 4.2% to 158.95. AbbVie President and Vice Chairman Mike Severino will depart at the end of May to join Flagship Pioneering, which helped create several notable biotechs, including Moderna. ABBV stock has tumbled 9.2% so far this week after hitting a record high on Friday.
JPM stock slid 3.2% to 127.30, hitting its lowest level since January 2021. JPMorgan earnings missed views as the Dow Jones component set aside reserves due to Russia's Ukraine invasion and other factors.
PYPL stock lost 2.85% to 105.17. PayPal CFO John Rainey will leave to become chief financial officer at Walmart.
Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.
