Speaker · Updated
Phil LeBeau: latest market views
CNBC
Summary
Phil LeBeau is an Emmy Award-winning CNBC correspondent based in Chicago who has covered the auto and airline industries since 1999.
Chorus has 6 views from Phil LeBeau across 5 episodes on CNBC Closing Bell, CNBC Fast Money and CNBC Power Lunch since October 7, 2026. Their latest calls: bullish on Dr. Ing. h.c. F. Porsche; bearish on JetBlue Airways and United Airlines Holdings.
Where they stand
Their latest bullish or bearish call on each company.
- JetBlue AirwaysBearish ·
- United Airlines HoldingsBearish ·
- Dr. Ing. h.c. F. PorscheBullish ·
What they talk about most
- Autos & EVs · 2
- JetBlue Airways · 1
- United Airlines Holdings · 1
- Tesla · 1
- Dr. Ing. h.c. F. Porsche · 1
The latest views
Newest first. Every quote is checked against the episode's transcript.
JetBlue AirwaysBearish
Jet fuel is JetBlue's key risk; prices staying high into next year would further pressure the airline.
LeBeau says the Q3 story is jet fuel. Jet fuel rose 57% year over year to $3.91 a gallon and drove a wider-than-expected loss. JetBlue recaptured 87% of the fuel cost through fares, but it expects fuel to average $4.64 a gallon in Q4, up 85%. Although JetBlue has $7.5B of unencumbered assets and still targets at least $1 of EPS in 2028, nobody knows where fuel prices will go. Airline CEOs told him that nobody has confidence fuel will cool off in Q1 or Q2. If fuel stays high in Q2 next year, that would add further pressure on JetBlue.
“But further out, the big question is gonna be jet fuel. If we're looking at jet fuel at this, let's say in the second quarter of next year... that's gonna put even further pressure on JetBlue.”at 22:58
CNBC Closing Bell: Closing Bell Overtime: Markets Face a Big Week as AI Takes Center Stage 10/26/26 ·
United Airlines HoldingsBearish
United's jet fuel assumptions imply a sharp earnings cut, and fare-driven demand may face resistance.
United missed on Q3 EPS ($2.54 vs $2.57) and revenue. Its Q4 EPS guide of $0.50–$1.50 sits below the street's $1.76, with the cut driven by fuel: United assumes $4.80 per gallon for jet fuel, versus $3.90 paid in Q3. LeBeau notes that full-year EPS expectations were $9–$11 as recently as July, so even the top of the new Q4 range implies only about $7.22 for the year. Airlines have passed fuel costs through in higher fares, and demand has held so far, but at $4.80 fuel he wonders whether customers will start to resist.
“as recently as July, they expected full year EPS of between $9 and $11. Even the most optimistic at a buck 50 in the fourth quarter means they will only earn $7.22.”at 19:11
TeslaUncertain
Tesla's flat year reflects a possible SpaceX merger; AI, robotics and other synergies could come from one roof.
LeBeau cites Barclays saying a Tesla-SpaceX merger has become the consensus expectation. He says that is why Tesla shares haven't done much this year, since people want to know whether the merger happens. He sees AI as the clearest reason for the two companies to be combined, alongside robotics and other areas. He stops short of saying whether the combination would help or hurt Tesla.
“But AI is really where you see the potential for Tesla being folded into SpaceX and the opportunities that could be unfolding between the two companies being under one roof, not only AI, robotics, just a whole host of areas.”at 42:47
CNBC Fast Money: Rate Drop Helps Fuel Bounces… And Apple And Meta’s AI Partnership 10/15/26 ·
Used car market is healthy but not robust; prices slipping, while EVs and small cars rise.
LeBeau cites the Manheim used vehicle index, which fell 0.6% year over year, the first decline since early last year, led by pickups and SUVs. The average used price is around $27,000, so the market is not cratering. EV and small car prices rose 4.3% year over year in September, showing those are the strong segments. He links the sluggish overall market partly to the first September since 1994 without an East Coast hurricane, which usually boosts replacement demand for flood-damaged vehicles.
“Bottom line is this, Melissa, it is a relatively healthy market, but not a robust market where people are moving into new vehicles or moving into used vehicles at a big clip.”at 35:50
CNBC Fast Money: Rates Back On The Rise… And Used Car Market Shifting Into Reverse 10/7/26 ·
New-car demand is holding up better than expected, and automakers are restraining supply, so fewer trade-ins.
New-vehicle sales hold around 16.2 million units annualized, a little better this year than many expected. Automakers are being judicious and not adding supply beyond what the market wants. Because the new market drives the used market, fewer owners are trading in vehicles, and one dealer called it an 'okay' market.
“the demand holds around 16,200,000 vehicles in terms of an overall sales rate. That's actually a little better for this year than many people were expecting.”at 36:30
CNBC Fast Money: Rates Back On The Rise… And Used Car Market Shifting Into Reverse 10/7/26 ·
Dr. Ing. h.c. F. PorscheBullish
Porsche's pivot to fewer, pricier models is smart, backed by brand equity and high-end buyer demand.
Porsche is moving to be more exclusive and restrictive: fewer model variants, a focus on performance and sports cars, and price increases of about 20%, copying Ferrari's playbook of scarcity pricing. LeBeau calls this smart because Porsche has huge brand equity that resonates with high-end buyers. He notes the problems: the China market that used to drive sales has faded under local competition, and Porsche's exclusivity is thin, since a Macan's difference from BMW or Mercedes competitors is small. The strategy is sound but depends on restoring that exclusivity.
“That's a smart move. It's got huge brand equity. It is a brand that resonates especially with high end buyers.”at 36:49
CNBC Power Lunch: Tech’s Record Rally, Assessing Amazon’s Valuation, Global Energy Uncertainty 10/7/26 ·
Shows
- CNBC Closing Bell · 2 episodes
- CNBC Fast Money · 2 episodes
- CNBC Power Lunch · 1 episode
Ask your AI what Phil LeBeau thinks
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Chorus reports what speakers said. It isn't investment advice.