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Jet Blue: Setting The Record Straight

Shares of JetBlue tumbled over 10% Wednesday after the company surprised the Street with a loss.


The company said winter storms cut revenue by $15 million and its transition to a new customer service and reservation system increased expenses by about the same amount.

Higher fuel costs also eroded the carrier's bottom line, a volatile scenario that affected all major airlines in the January-to-March period.

JetBlue reported a net loss of $1 million, or a penny per share, compared with net income of $12 million, or 5 cents a share for the year-ago period.

The consensus Wall Street per-share forecast for the quarter was a profit of 3 cents, according to Reuters I/B/E/S.

But before you write off this stock entirely it’s worth noting higher fares helped push revenue to $870 million, about $10 million shy of analysts' expectations.

Also traffic was up and planes flew more than three-quarters full on average.

Was the sell-off warranted or was it overdone? Before you place your bets check out our interview with CEO Dave Barger. Watch the video now!




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Trader disclosure: On Apr 28, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Kelly Owns (FXE) Puts; Kelly Owns (AUY) Calls; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Finerman's Firm Is Short (IWM), (MDY), (IJR); Finerman's Firm Is Long S&P Puts; Finerman Owns (AAPL); Finerman's Firm Owns (BAC), (BAC) Leap; Finerman Owns (BAC), (BAC) Preferred; Finerman Owns (GOOG); Finerman's Firm And Finerman Own (JPM); Finerman's Firm Owns (MHK); Finerman's Firm And Finerman Own (WFC) Preferred; Finerman's Firm Owns (GLW); Seymour Owns (AAPL), (BAC), (POT); Scaramucci Owns (PFE), Skybridge Owns (PFE)

For Tim Seymour:
Seygem Asset Management Owns (POT)

For Dennis Gartman
Funds Managed By Dennis Gartman Own Gold
Funds Managed By Dennis Gartman Own (FXI)
Funds Managed By Dennis Gartman Are Short Sterling
Funds Managed By Dennis Gartman Are Short Yen
Funds Managed By Dennis Gartman Are Short Euro

For Brian Kelly
Kanundrum Capital Is Long U.S. Dollar
Kanundrum Capital Owns (TLT)
Kanundrum Capital Owns (NTES)
Kanundrum Capital Owns (AWI)
Kanundrum Capital Is Short (FDX)
Kanundrum Capital Is Short (CLF)
Kanundrum Capital Is Short (BCS)
Kanundrum Capital Is Short (DB)
Kanundrum Capital Is Short (MCO)
Kanundrum Capital Is Short (STT)
Kanundrum Capital Is Short (IVZ)
Kanundrum Capital Is Short (USO)
Kanundrum Capital Is Short (RSX)
Kanundrum Capital Is Short (EWH)
Kanundrum Capital Is Short (EWY)
Kanundrum Capital Is Short (FXI)

For Patty Edwards
Edwards Owns (DOW) For Clients
Edwards Owns (C) For Clients
Edwards Owns (BAC) For Clients
Edwards Owns (MS) For Clients
Edwards Owns (JPM) For Clients
Edwards Owns (WFC) For Clients
Edwards Owns (V) For Clients
Edwards Owns (GOOG) For Clients
Edwards Owns (YHOO) For Clients
Edwards Owns (MSFT) For Clients
Edwards Owns (INTC) For Clients
Edwards Owns (SPY) For Clients
Edwards Owns (QQQQ) For Clients
Edwards Owns (GLD) For Clients
Edwards Owns (PGM) For Clients
Edwards Owns (HD) For Clients
Edwards Owns (PCL) For Clients
Edwards Owns (AAPL) For Clients
Edwards Owns (MCD) For Clients

For Jared Levy
Peak6 Investments Owns And Has An Options Position In (DOW)
Peak6 Investments Owns And Has An Options Position In (CMCSA)
Peak6 Investments Owns And Has An Options Position In (GLW)
Peak6 Investments Owns And Has An Options Position In (S)
Peak6 Investments Owns And Has An Options Position In (TLT)
Peak6 Investments Owns And Has An Options Position In (C)
Peak6 Investments Owns And Has An Options Position In (BAC)
Peak6 Investments Owns And Has An Options Position In (GS)
Peak6 Investments Owns And Has An Options Position In (JPM)
Peak6 Investments Owns And Has An Options Position In (WFC)
Peak6 Investments Owns And Has An Options Position In (V)
Peak6 Investments Owns And Has An Options Position In (COF)
Peak6 Investments Owns And Has An Options Position In (YHOO)
Peak6 Investments Owns And Has An Options Position In (MSFT)
Peak6 Investments Owns And Has An Options Position In (LOW)
Peak6 Investments Owns And Has An Options Position In (WY)
Peak6 Investments Owns And Has An Options Position In (AAPL)
Peak6 Investments Is Short And Has An Options Position In (CMCSK)

Peak6 Investments Is Short And Has An Options Position In (XLF)
Peak6 Investments Is Short And Has An Options Position In (MS)
Peak6 Investments Is Short And Has An Options Position In (MA)
Peak6 Investments Is Short And Has An Options Position In (BIDU)
Peak6 Investments Is Short And Has An Options Position In (GOOG)
Peak6 investments Is Short And Has An Options Position In (NTES)
Peak6 Investments Is Short And Has An Options Position In (HD)
Peak6 Investments Is Short And Has An Options Position In (PCL)
Peak6 Investments Is Short And Has An Options Position In (AWI)
Peak6 Investments Is Short And Has An Options Positoin In (CTXS)
Jared Levy had put in an order to buy (GS) as of Halftime Report but did not yet own shares.

For Whitney Tilson
Funds Managed By Whitney Tilson Are Short (PALM)




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