Just a heads-up for any traders out there. Easyjet seems to be bouncing back after its 20% fall during the week.

MM's seem to be walking the price up.

Right now we have EZJ Bid: 608.5p Offer: 609p Change: 11, was up 13 a few minutes back.

Goldman Sachs Conviction Buy 1,479.00 1,479.00 - 2,105.00 Reiterates

french air strike
this was called off early this morning, i.e. 48 hours ahead of schedule, yet EZJ has dropped another 15p this morning on top of the thumping it has taken over the last 7/10 days

this looks a nonsense, not least because i'ld be surprised if EZJ had cancel many flights at all ...... certainly BA LHR/MRS was kept going with surprisingly little disruption throughout

my only caveat is that the chart looks pretty ugly

I think both Easyjet & Ryanair have been hard hit by cancellations. The people that I know who were due to fly over the last few days have had their flights cancelled and told not to come back for two days. Considering the small margins that both of these carriers gain per flight, any disruption is bad news, imo. Good news however, that the french are back to work earlier than scheduled. I certainly know that many people are going to file compensation claims, so will be interesting to see what effect this has on quarterly figures.

:-((

Budget airline easyJet was the worst performer on the FTSE 100, off 4.5 percent, as BofA Merrill Lynch cut its rating on the stock to "underperform" from "neutral", with earnings headwinds likely to pressure stock price performance.

"We believe the consensus EPS upgrade story is over at easyJet, as negative yield momentum will cause confidence in the upgrade cycle to shatter," BofA ML analysts wrote in a note.

Phew. Got out just in time last week.

Got the "Magic Sign from Goldman". Do the opposite.

July 2: Barclays: Overweight - TP: 1700p.

July 1: Numis: Buy - TP: 2100p.

June stats

Im a big fan of EZJ if you look back through the thread but I knew I had read a very negative report very recently on the company and couldnt remember where I saw it.

Ive just found it in the Daily Mail 30/6/2014 and I know todays figures are very good but be carefull here......

MARKET REPORT: Analysts at Bank of America clip EasyJet's wings and wipe more than £370m off value
PUBLISHED: 22:02, 30 June 2014 | UPDATED: 22:02, 30 June 2014
View

Profits warning ahoy! That was the message from Bank of America when assessing EasyJet yesterday – a call that wiped more than £370m off the airline’s value.
EasyJet shed 6.44 per cent, or 94p, while British Airways owner IAG also fell, losing 3.47 per cent.
In a searing analysis of flying conditions, analysts at BoA said the ‘lazy consensus’ around EasyJet’s performance ‘heads blindly’ into a ‘cliff’.

Expectations that the company will constantly upgrade its forecasts will be ‘shattered’, they warned.

‘The share price has already shown signs of wilting under Europe’s sweltering summer airline overcapacity problem,’ said analyst Mark Manduca, in a note the bank was desperate not to be seen by anyone but its clients.

But he added there was more turbulence to come, with the issue of too many planes in the crowded skies only getting worse as the year goes on.
The introduction of allocated seating – a move that wooed business passengers and saw EasyJet overtake rival Ryanair – has already paid its rewards, he added.
All this will lead to the company issuing a profits warning over its 2015 earnings, he predicted.

He currently expects pre-tax profits to fall by £170m in 2015, compared to market expectations that they will rise by £80m – a forecast he said was ‘egregious’. He said ‘the last remaining bulls will likely be shaken out of the shares’ when lower profits come into view.

At the same time he downgraded the share price by an eye-watering 36 per cent – from 1800p to 1150p. Shares closed at 1365p. Despite the caution, shareholders who boarded at the same time as chief executive Carolyn McCall – who incidentally celebrates the fourth anniversary of her tenure today – will not have been disappointed with the service over the period. Shares have soared to the tune of 260 per cent in four years.

Although the note didn’t mention British Airways operator IAG, shares fell sharply, finishing 13.3p worse off at 370.5p. Manduca and his team also upgraded prospects for Ryanair, which is listed in Dublin.
Michael O’Leary’s airline is ‘due some near-term relief’ after a string of profits warnings he said – but added that it would still suffer in the long run from a lack of exposure to ‘key European business airports’.


Read more: http://www.dailymail.co.uk/money/markets/article-2675426/MARKET-REPORT-Analysts-Bank-America-clip-EasyJets-wings.html#ixzz36V9DbQSP
Follow us: @MailOnline on Twitter | DailyMail on Facebook

Still losing altitude.

almost tail-spin

bye bye that is me out thx for the profitable flight

July 11: Jefferies; Buy - TP: 1500p (down from 1800p).

July 16: Goldman Sachs: Conviction Buy - TP: 2010p.

Numis reiterates: Buy and maintains 2100p TP:
"There is quite a long list of worries, but we believe that the share
price reaction has been overdone and expect a relatively reassuring Q3 update."

certainly worth watching now or even having a dabble (i have done so modestly)
sp has now nudged back through 25 dma and the markets in general are looking quite perky

Trading statement this Thursday.

July 22: Deutsche: Buy - TP: 1935p.

Q3 Interim Management Statement

A. HIGHLIGHTS:

easyJet performance in the quarter

· Revenue per seat grew by 2.7% at constant currency or by 1.7% on a reported basis to £62.47 per seat despite a less benign capacity environment and a significant increase in easyJet capacity at Gatwick. The revenue performance was driven by the movement of Easter into the third quarter of the financial year and continued digital, brand and revenue initiatives.

· easyJet's capacity grew 6.8% in the quarter, primarily driven by a 16% increase in capacity at Gatwick mainly due to the purchase of the Flybe slots and 7% growth at Rome Fiumicino.

· Total revenue grew by 8.6% to £1,240 million, passengers carried increased by 9.4% to 17.9 million, and the load factor increased by 2.2 percentage points to 90.4%.

· Cost per seat excluding fuel increased by 1.0% at constant currency or decreased by 1.3% on a reported basis, better than guidance issued in May. The increase, at constant currency, was driven by increased airport charges, primarily in Italy and planned year on year cost increases in maintenance and lease costs.

· Cash and money market deposits were £1,162 million and net cash was £603 million as at 30 June 2014 demonstrating easyJet's continued strong balance sheet.

so typically sp gets bashed again!

What did you expect ? it's happened to several recently .