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More Squawk From Jim Cramer: Southwest Airlines (LUV) Stock Down on 'Shocking' Earnings

NEW YORK (TheStreet) -- Shares of Southwest Airlines (LUV) are falling 9.09% to $38.19 on heavy trading volume Thursday morning after reporting lower-than-expected 2016 second quarter earnings and revenue before the opening bell.

The Dallas-based airline reported a "very bad" decline in revenue per available passenger, while increasing capacity between 5% and 6% this year, TheStreet's Jim Cramer pointed out on CNBC's "Squawk on the Street" this morning.

"That is not good news," he noted. "That's going to send the whole airline group down - a key group in this rally."

Shares of American Airlines (AAL) and Delta...