Major airlines get a boost on renewed merger speculation
9:45:19 AM ET 1/9/2008
NEW YORK (MarketWatch) -- Airline shares among legacy carriers got a boost Wednesday on renewed merger speculation. The Amex Airline Index (XAL) added a fraction to 29.30 points, with 10 of its 14 components trading higher. UBS upgraded Delta Airline (DAL) to buy, which jumped 4.9%; as well as Northwest Airlines (NWA), up 4.8%; Continental Airlines (CAL), up 2.2%; U.S. Airways (LCC), up 3.1%; and UAL Corp. (UAUA), up 1.7%, because a potential merger between two major airlines would force others to consolidate as well. On Tuesday airline stocks experienced a wide selloff with all major carrier shares hitting 52-week lows.
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