Why JetBlue Stock Was Soaring Above the Pack This Week

JetBlue Airways (NASDAQ: JBLU), which has been something of a survivor in its tough industry, was a favorite airline stock over the past few trading sessions. The company's most recent market-moving news had to do with its fundamentals, and investors showed their appreciation by trading it up handsomely. The stock was up by almost 8% week to date as of Friday before market open, according to data compiled by S&P Global Market Intelligence.

Operational and financial metrics revised

On Wednesday, JetBlue provided an operational update in a fresh regulatory filing. In it, the veteran carrier revealed that its bookings for travel in both November and December were higher than it previously anticipated, which is always cause for investor celebration.

Thanksgiving week in particular was an outperformer; management cited "improved close-in demand and strong operational performance," as drivers of the better-than-forecast revenue for the peak U.S. travel period.

As a result, JetBlue has revised its estimate for the expected headwind to its results; this is now forecast at 50 basis points, down from 100. So available seat miles (ASM) is expected to decline only 4.5% to 6.5% year over year in the company's current (fourth) quarter, against the previous estimate of 4% to 7%. This has led to the airline's revision for total revenue, which is now anticipated to sink by 2% to 5% (prior forecast: 3% to 7%).

JetBlue did not provide any estimates for the quarter's profitability.

Flying out of a rocky year

Like a plane riding through turbulence, JetBlue has bumped higher and dived lower in what's been a volatile year for the company. This is a fine way to (hopefully for shareholders) end it on a relatively high note, although we'll get more clear indications of the carrier's health when the official, audited results for the quarter are published.

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Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.