Midday Report: JetBlue Falls on Traffic Guidance; Oil Bombs Stocks

The energy sector sold off to lead market losses as crude oil dipped below $36 a barrel. West Texas Intermediate is now trading at pre-Great Recession levels. JetBlue (JBLU) fell after guiding for a disappointing third quarter. The airline expects passenger revenue per available seat mile to decrease 2% to 3% because of holiday timing this year. Adobe (ADBE) climbed after reporting a double-digit percentage increase in sales in its fourth quarter. The software developer saw strong subscriber growth for its Creative Cloud product line, which includes Photoshop. United Technologies (UTX) has announced a $1.5 billion restructuring plan to run through to 2018.