Shares of United Airlines are tumbling based on the carrier's gloomy outlook for fourth-quarter profit.
Associated PressFILE - In this July 2, 2021 file photo, a United Airlines jetliner taxis down a runway for take off from Denver International Airport in Denver. United Airlines reports earnings on Tuesday, Oct. 17, 2023. Shares of United Airlines tumbled more than 7% on Wednesday morning and took the rest of the industry down with them after the carrier gave a gloomy outlook for fourth-quarter profit, which will be reduced by rising jet fuel prices.
Investors, however, focused immediately on the airline's prediction that fourth-quarter earnings would be between $1.50 and $1.80 per share, well below analysts' forecast of $2.09 per share.
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