Keep an eye on Southwest Airlines (SYM: LUV).
The airline stock is just starting to pivot higher after the company raised its third quarter revenue forecast, announced a $2.5 billion share buyback, and detailed plans to change its business model as it attempts to prevent Elliott Investment Management from jumping in.
And, as noted by CNBC:
“Southwest executives are presenting their vision for the company’s future at the airline’s Dallas headquarters on Thursday in an investor day presentation. CEO Bob Jordan and Southwest’s other senior leaders are under increasing pressure from Elliott, which has called for a leadership change at the carrier.”
“Southwest executives will try to convince investors that it is on the right track to boost profits and increase revenue. Over the summer, it unveiled dramatic changes to its more than half-century-old business model, including assigned and extra-legroom seats, which could generate more revenue for the carrier.”
