As previously reported, Buckingham analyst Daniel McKenzie downgraded Spirit Airlines (SAVE) to Neutral from Buy and lowered his price target on the shares to $41 from $69, citing his view that the revenue weakness seen in Q3 likely worsens this winter and into 2020. His view that revenue weakening could worsen later this winter is based on the "ungrounding" of Boeing's (BA) MAX, the fact that competitive capacity will double across Spirit's network and JetBlue's (JBLU) rollout of basic economy and does not even factor in an economic downturn or a potential IPO of Frontier, McKenzie tells investors.

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JetBlue announced several leadership and organizational updates as the company continues on its path to sustained profitability: Daniel Shurz has been named JetBlue's new head of revenue, network, and enterprise planning. Over the past 20 years Shurz has served as vice president, network planning for Air Canada and senior vice president, commercial for Frontier Airlines, and held strategy and business development roles at both carriers. He will lead JetBlue's network planning, airline partnerships, sales and revenue management, and enterprise planning teams which are critical elements of the company's push for profitability and plans to strengthen its network positioning. Daniel will report to JetBlue's president, Marty St. George. Dave Clark has been named JetBlue's new head of finance and strategy, responsible for financial planning and analysis, strategy and business development, as well as investor relations. He joined JetBlue in 2009 and most recently served as JetBlue's head of revenue and planning. He will report to JetBlue's chief financial officer, Ursula Hurley. Shelly Griessel has been promoted to vice president, customer support. She joined JetBlue in 2022 and since then has served as managing director, customer support, responsible for JetBlue's omnichannel management of all customer contacts. She will continue to report to Jayne O'Brien, JetBlue's head of marketing and customer support. Melinda Maher has been named vice president, treasurer and infrastructure. She has served as vice president, financial planning & analysis and structural cost since 2022. She previously served on JetBlue's finance team from 2013-2016 before taking on leadership roles at Alaska Airlines and Amazon. Katherine Celli has been named vice president, culture, talent management, and organizational effectiveness. In addition to bolstering JetBlue's efforts around culture, a key competitive advantage, Katherine will have oversight of talent management and organizational effectiveness. She's been with JetBlue for 16 years, most recently as the culture and change management planning leader for the proposed Spirit integration. She will report to Tracy Lawlor, JetBlue's interim chief people officer.

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Unusual total active option classes on open include: Wrap Technologies (WRAP), AstraZeneca (AZN), JetBlue (JBLU), United Continental (UAL), Taiwan Semi (TSM), Nokia (NOK), EBay (EBAY), Maplebear Inc (CART), Airbnb (ABNB), and UnitedHealth (UNH).

JPMorgan upgraded JetBlue (JBLU) to Neutral from Underweight with a $7 price target. The company is increasingly well-positioned for a modest potential move to the upside based on improving market sentiment, and its upcoming Q2 guide coming next week may exceed consensus, the analyst tells investors in a research note. JetBlue is the second least-liked airline based on sell-side ratings, after Spirit (SAVE), with short interest on the stock also remaining "stubbornly high", the firm added.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Says without approximately $200M impact Boeing (BA) 737 MAX 9 from grounding, United (UAL) would have reported a quarterly profit.

Northcoast downgraded Boeing to Sell from Neutral with a $140 price target. The stock in premarket trading is down 1% to $168.80. The analyst expects Boeing's quarterly earnings report in two weeks to prompt concerns about the company's underlying fundamentals and ultimately shift investor focus to liquidity and acquisition concerns. Negative expectations are embedded in the lower share price, but investors may not be discounting structural issues, such as Boeing's balance sheet stability or future cash liabilities, the analyst tells investors in a research note. Northcoast believes the 787 production challenges and the Federal Aviation Administration investigation uncertainties do not appear to be reflected in consensus estimates. The firm's channel checks confirm unexpected changes were already made to the Dreamliner production schedule "that would normally indicate some type of problem not yet been communicated to The Street." Its survey results point to a 787 program build rate of two jets per month, as opposed to Boeing's claim of five.

Northcoast analyst Chris Olin downgraded Boeing to Sell from Neutral with a $140 price target.