Southwest Airlines Co. (LUV) said today it planned to buy back an additional $500 million worth of shares. Luv has taken a beating lately with fuel prices skyrocketing. This is one stock that I have been actively trading for a long time and am quite familiar with. With a p/e ratio of 22 compared to Jet Blue (JBLU) with 211 this stock is way undervalued (and JBLU is way overpriced). Luv is know for its unbelievable oil futures trading and this has allowed the company to stay profitable while others have had huge problems with rising fuel costs. I recommend Luv as a buy, especially in the 14's.
Disclosure: Long LUV