JetBlue -5% after labor costs drag on profit

• JetBlue (NASDAQ:JBLU) opens sharply lower after missing Q3 profit expectations.
• Labor and benefit costs were up 8% during the quarter to $421M to outpace the revenue growth recorded. Those extra costs cut into the benefit of lower fuel costs.
• Revenue per available seat mile fell 4.7% during the quarter to $0.1139.
• Looking ahead, JetBlue sees Q4 unit costs rising 4.5% to 6.5%. Capacity is expected to increase 3% to 5%.
• Previously: JetBlue Airways misses by $0.02, beats on revenue (Oct. 25)
• Shares of JetBlue are down 5.01% to $17.81 vs. a 52-week trading range of $14.76 to $27.00.