Airline stocks pull back Friday, April 09, 2010 after posting strong gains in early morning trading. For More information regarding the most Up-to-Date Stock Market Information, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Airline stocks pull back Friday, April 09, 2010 after posting impressive gains in early trading, leaving the benchmark segment index dismal for the week.
The NYSE Arca Airline Index (XAL 38.50, -0.09, -0.24%) declined less than 1% to 38.39 points. On Thursday, benchmark boosted to two-year high of 38.97 after reports US Airways (LCC 7.30, -0.25, -3.31%) and UAL Corp (UAUA 20.32, +0.09, +0.45%) negotiate a possible merger.
The Airline Index was up just 0.4% for the week, versus a 1% climb for the Standard & Poor's 500 Index (SPX 1,191, +4.53, +0.38%). Shares for US Airways and UAL rose to full-year highs, but declined Friday as investors worry over the likelihood that an agreement will be reaches. US Airways shed 3.2% to $7.31 and UAL fell a fraction to $20.15.
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