A Big Cut: Alaska Airlines Shares Trade Down 6% On Revised Forecasts

Alaska Airlines (NYSE: ALK) shares fell sharply during Monday trading following a guidance update from the carrier group. The stock fell around 6.7% throughout the day, after opening at a price of $63.50, with heavy trading volumes throughout the day. The airline’s management team communicated earlier in the day that, while unit revenue was tracking towards the upper end of the guidance range, costs would be pushing towards the higher end as well, with profitability likely falling towards the bottom of the company’s forecasts.