U.S. Global Jets ETF

NYSE Arca:JETSUnited States

Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the funds. Brokerage commissions will reduce returns. Stock markets can be volatile and share prices can fluctuate in response to sector-related and other risks as described in the fund prospectus. Foreign and emerging market investing involves special risks such as currency fluctuation and less public disclosure, as well as economic and political risk. Companies in the consumer discretionary sector are subject to risks associated with fluctuations in the performance of domestic and international economies, interest rate changes, increased competition and consumer confidence.

Shares of JetBlue Airways Corp. (JBLU) fell 4.5% in premarket trading Tuesday, after the air carrier reported a narrower-than-expected third-quarter loss, but provided a downbeat revenue outlook for the current quarter. Net losses narrowed to $60 million, or 17 cents a share, from $153 million, or 46 cents a share, in the same period a year ago. Excluding nonrecurring items, the adjusted per-share loss of 16 cents beat the FactSet loss consensus of 21 cents. Total revenue grew 0.5% to $2.365 billion, just above the FactSet consensus of $2.356 billion, as passenger revenue slipped 0.1% to $2.198 billion to top expectations of $2.182 billion. Operating expenses fell 4.2% to $2.40 billion, as a 16.8% drop in aircraft fuel expenses to $584 million helped offset a 4.7% increase in payroll costs to $827 million. Load factor improved to 86.6% from 85.1%, as the 3.6% decline in capacity outpaced the 1.9% drop in traffic. For the current fourth quarter, JetBlue expects revenue to be down 7% to 3% from a year ago, while the current FactSet revenue consensus of $2.302 billion implies a 1% decline. The stock has run up 31.9% year to date through Monday, while the U.S. Global Jets ETF (JETS) has climbed 21.0% and the S&P 500 has advanced 22.1%.