Why Shares of Howmet Aerospace, Allegheny Technologies, and Sabre All Soared Today
Airline stocks have enjoyed two solid days of gains on growing optimism that the worst is over for the travel sector. That optimism is also extending to companies that do business with airlines, as investors are hopeful that revenue will not be under pressure for as long as originally feared.
Shares of Sabre (NASDAQ: SABR) were up 14.8% at the close Friday, while shares of Howmet Aerospace (NYSE: HWM) and Allegheny Technologies (NYSE: ATI) were each up more than 9%.
Sabre, Howmet, and Allegheny do not overlap much, but they all count on airlines for a significant portion of their sales.
Source Fool.com
