Rochester, NY 8/6/2009 4:40:05 PM
After Hours - UAL Corporation, UAUA - UAL Leads Airline Index To Achieve Longest Gain in Decade
UAL Corporation
United Airlines parent UAL Corp. led the Bloomberg U.S. Airlines Index in achieving the airlines longest climb as increased travel demand signaled the worst of the industry’s slump has ended.
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UAL stocks increased it volume by 79 cents, or 19 percent, to $5 at 4 p.m. in Nasdaq Stock Market last trading, this is the highest market climb since Feb. 23. The airline pulled the group of 12 carriers up 4 percent for its ninth straight gain, the most since its creation in June 1999.
“There’s generally broader optimism on the economy,” said Hunter Keay, an analyst at Stifel Nicolaus & Co. in Baltimore. “UAL is a good cyclical play on the economy. It’s not as risky as some, but still risky enough to give a better comfort level in the shift” toward economic recovery.
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