Like the rest of the airlines, JetBlue (JBLU) has experienced a ton of turbulence in 2016, falling almost 20 percent. Brian Peery, portfolio manager for the Hennessy Cornerstone Mid Cap 30 Fund (HIMDX) , said the low-cost carrier's rebound in recent weeks proves that it is preparing for lift-off. 'Having a competitive cost structure is essential to their success, and they continue to build a profitable and defensible network,' said Peery. 'Combined with their new Mint service, and an expanded clientele, we think that they will continue to do well through 2016.' The Hennessy Cornerstone Mid Cap 30 Fund is up 2.5 percent thus far in 2016, according to Morningstar. The $1 billion fund has returned an average of 9.5 percent annually over the past three years, outpacing 89 percent of its peers in Morningstar's mid-cap blend category. Peery is also bullish on Goodyear Tire (GT) , which is down 18 percent year-to-date as a result of a sharp selloff in April when the company missed Wall Street's revenue estimate. 'There are still segments of the business that are performing well, but they have some operation difficulties capitalizing on some higher margin businesses,' said Peery. 'I think as 2016 progresses we expect to see those difficulties worked out and we are coming into fiscal Q2, Q3, where Goodyear traditionally does much of its business. We think the recent pullback in the stock is a great entry point and we would be a buyer of the stock.'
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