Advertisement
Canada markets open in 2 hours 10 minutes
  • S&P/TSX

    21,837.18
    -12.02 (-0.06%)
     
  • S&P 500

    5,149.42
    +32.33 (+0.63%)
     
  • DOW

    38,790.43
    +75.63 (+0.20%)
     
  • CAD/USD

    0.7371
    -0.0018 (-0.24%)
     
  • CRUDE OIL

    82.75
    +0.03 (+0.04%)
     
  • Bitcoin CAD

    85,076.78
    -7,411.91 (-8.01%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • GOLD FUTURES

    2,157.80
    -6.50 (-0.30%)
     
  • RUSSELL 2000

    2,024.74
    -14.58 (-0.72%)
     
  • 10-Yr Bond

    4.3400
    0.0000 (0.00%)
     
  • NASDAQ futures

    18,151.50
    -80.00 (-0.44%)
     
  • VOLATILITY

    14.76
    +0.43 (+3.00%)
     
  • FTSE

    7,704.29
    -18.26 (-0.24%)
     
  • NIKKEI 225

    40,003.60
    +263.20 (+0.66%)
     
  • CAD/EUR

    0.6793
    +0.0001 (+0.01%)
     

Traders say Southwest struggles don't doom airlines — here's where they're looking

Traders say Southwest struggles don't doom airlines — here's where they're looking

The " Fast Money " traders picked stocks they liked in the airline sector amid a pullback.

A key airlines ETF (NYSE Arca: .XAL) dropped nearly 2 percent on Wednesday, after Southwest Airlines (NYSE: LUV) reported a quarterly profit drop of 33.6 percent .

Southwest's Wednesday decline isn't necessarily bad news for all airlines, trader Tim Seymour said.

"They are a mass market and low-priced carrier. That's not the same business as American (NASDAQ: AAL) or Delta (NYSE: DAL)," Seymour said, adding that he still likes the airlines and thinks they have attractive valuations.

ADVERTISEMENT

Trader Karen Finerman agreed and said she also likes American and Delta.

Trader Steve Grasso said he likes Spirit Airlines (NASDAQ: SAVE), which he said rebounds faster than other airlines when the sector gets hit.

Disclosures:

PETE NAJARIAN

Pete Najarian is long stock: AAPL, BAC, DIS, DISCA, GE, KMI, KMI.A, KO, LUX, MRK, P, PEP, PFE, calls: ABT, AMD, ATVI, BABA, BAC, BBY, CNX, COP, CS, DISH, ECA, ETP, GM, GRPN, GS, INTC, JBLU, JCP, KGC, LLY, LOW, M, MOS, MRO, MRVL, MT, MUR, NAV, NBR, PBR, RIO, SCTY, SBUX, TTS, TV, TWTR, VRX, WFT, WLL, X, XLF and puts: TWTR.

STEVE GRASSO

Steve Grasso is long: BA, CC, CHK, EVGN, KBH, MJNA, MON, MU, OLN, PFE, PHM, T, TWTR, GDX. Grasso's children own: EFA, EFG, EWJ, IJR, SPY. No shorts. Grasso's firm is long: VIRT, DVN, LDP, WDR, AVP, CVX, FCX, ICE, KDUS, KO, MAT, MCD, MJNA, NE, NEM, OLN, OXY, RIG, STAG, TAXI, TEX, TITXF, URI, ,WDR, WYNN, ZNGA, CUBA, HSPO, ICE, AMZN, MJNA, TITXF, SPY, QQQ, DIA, XLI, BGCP, VIRT, GE, AIR FP

KAREN FINERMAN

Karen Finerman is long AAL, BAC, C, DAL, long DB calls, FB, FL, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, M, MA, SEDG, SPY puts, UAL, URI, WIFI long call spreads. Her firm is long ANTM, AAPL, BAC, C, C calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, WIFI, and short IWM, MDY. Finerman is on the board of GrafTech International.

TIM SEYMOUR

Tim Seymour is long ABX, APC, AVP, BAC, BBRY, CLF, CVX, DO, DVYE, EDC, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD,MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, T, TWTR, VALE, VZ, XOM and short: SPY, XRT. His firm is long ABX, BABA, BIDU, CBD, CLF, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM.




More From CNBC

  • Top News and Analysis

  • Latest News Video

  • Personal Finance