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JetBlue, American Airlines, VMware, Looked Down On by Wall Street Firms

10/13/15 10:29 AM EDT
In Tuesday's Analysts' Actions, some airline stocks are pushed lower by analysts and another Wall Street firm slaps VMware (VMW) with a downgrade. JPMorgan Chase lowered JetBlue (JBLU)'s rating to NEUTRAL from OVERWEIGHT citing weak industry pricing. The firm also revised its 2016 forecasts due to revenue per available seat mile falling for the second time in a row. But, one upside is that margins appear stable, analysts said. It's a similar story for American Airlines (AAL). Evercore ISI downgraded the carrier to HOLD from BUY and said that profit margins could be pressured by higher 2016 fuel costs. The firm added that there's also fare competition with low cost carriers. In a separate note, one Wall Street firm is looking down on VMware. The company's rating dropped to MARKET PERFORM from MARKET OUTPERFORM at JMP Securities. This follows Monday's announcement that Dell will buy data storage company EMC (EMC) for about $67 billion. Meanwhile, EMC-owned VMWare, will remain a publicly-traded company. Analysts responded to this by saying 'the focus of that merger does not seem to be on maximizing the value of VMware shares.' Adding to that, the company is also seeing some competition from Amazon Web Services. TheStreet's U-Jin Lee reports in New York.
Stocks in this video: VMWJBLUAALEMC
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