Airline
stocks declined Wednesday, breaking a three-day streak of gains that lifted the
industry's benchmark index to a three-year high.
US Airways Group, Inc. (NYSE:LCC) dropped
1.36% to $11.57 after it made its fresh 52-week high of $11.83. Earlier this
month, the company reported Wednesday that it swung to a third-quarter profit
of $240 million, or $1.22 a share, from a loss of $80 million, or 60 cents a
share, in the year-earlier quarter.
Analysts,
on average, expected the company to report earnings of $1.16 per share on
revenues of $3.18 billion.
Over
the past 52-week, the stock had traded within the range of $2.82-$11.83 and is
up more than 137% year-to-date.
Delta Air Lines, Inc. (NYSE:DAL) added
0.30% to $13.37. Earlier this month, the company said that it swung to a
third-quarter profit, helped by strong demand for international travel. Net
income was $363 million, or 43 cents a share, compared to a loss of $161
million, or 19 cents a share, in the prior-year quarter.
The
stock opened at $13.17 and has a 52-week range of $6.78-$14.94.
AMR
Corporation (NYSE:AMR) fell 1.24% to $7.57. Earlier this week,
the company posted its first quarterly profit since the third quarter of 2007.
The company posted a quarterly profit of $143 million, or 39 cents per share.
Wall Street had expected the company to earn 32 cents,
according to Thomson Reuters.
The stock went down more than 2% year-to-date.
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