Shares of the main airline stocks are on the move Friday morning after JPMorgan published a number of calls regarding the sector in the aftermath of both Hurricanes Irma and Harvey.
Shares of American Airlines Group (AAL) - Get Report and United Continental Holdings (UAL) - Get Report were falling over 1% and 2%, respectively, after the firm lowered its rating on both carriers to "Neutral" from "Overweight" predicated on concerns over higher fuel costs and pricing weakness. Both Hurricanes Irma and Harvey have caused the price of jet fuel to spike.
But, JPMorgan hiked its rating on Southwest Airlines (LUV) - Get Report to "Overweight" from "Neutral" arguing the airline is better positioned to combat the weakness than the other two and that its valuation is attractive at current levels. Nonetheless, shares of Southwest were in the red during early Friday morning trading.
Also in focus, in light of Friday morning's terrorist attack in London, are the stocks of the main hotel companies.
Shares of Marriot International
(MAR) - Get Report were falling in Friday morning trading, while shares of Hilton Worldwide Holdings
(HLT) - Get Report and InterContinental Hotels Group PLC
(IHG) - Get Report were also moving lower.
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