Barclays analyst David Fintzen downgraded Allegiant Travel to Underweight after revising his airline estimates to reflect higher fuel assumptions. The analyst upgraded two in the space and downgraded three to "better reflect even a modest risk of recession over the next year." He cut his price target for Allegiant Travel shares to $188 from $205.

Travel + Leisure Co. (TNL) and Allegiant (ALGT) "announced a multi-year marketing agreement, allowing both companies to grow their customer engagement through cross-company promotion. The two travel companies will share promotional offerings to each other's customers, providing offers to a broad spectrum of travelers. Allegiant, with more than 15 million Allways Rewards members, and Travel + Leisure Co., with more than 800,000 vacation ownership members and 3.5 million vacation exchange members, will each benefit from a highly engaged base of travelers."