Rochester,NY 7/2/2009 4:47:27 AM
MESA -Six-month report: 12 of Arizona's 21 major stocks gain ground in first half
Mesa Air Group Inc.
Afternoon Movers - MESA -Six-month report: 12 of Arizona's 21 major stocks gain ground in first half- Sourced WhisperFromWallStreet.com
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Mesa Air Group Inc.MESA
After Hours: 0.19 Up 0.04 (26.67%) 5:28PM ET
On a larger scale, the Dow Jones Industrial Average is down 3.8 percent for the year, and 36 percent since the start of 2008. The Nasdaq Composite managed to post a gain of 16 percent for the first six months of the year, but remains off 31 percent from January 2008.
In the first hours of trading Wednesday morning -- the first session of the third quarter -- the Dow was up more than 100 points.
The best way to describe stock performance so far this year is mixed, said Kevin Yeanoplos of Brueggeman and Johnson Yeanoplos PC in Tucson. There is still a significant amount of uncertainty, he said noting that while there has been an uptick in the housing market another wave of foreclosures is likely to hit.
He likened the situation to Pavlov’s dog conditioned to getting shocked in its cage being very upset at first, then learning to live with the discomfort.
We’ve all been shocked into submission,he said. But even though that has allowed the market to recover somewhat, there could be another dip in the next six months with so much hinging on such issues as consumer spending, Yeanoplos said.
Joe Blankenship, vice president of research at Source Capital Group in Scottsdale, agreed there could be another correction, but expects that to be minimal.
Both financial experts also say undervalued stocks are driving some of the activity.
About
Mesa Air Group, Inc., through its subsidiaries, provides scheduled passenger and airfreight services. The company carries passengers, as well as freight and express packages on its passenger flights. It also has interlined small cargo freight agreements with various other carriers. In addition, the company contracts with the U.S. Postal Service for carriage of mail to the cities it serves. Further, it occasionally operates charter flights. As of September 30, 2008, the company operated a fleet of 159 aircraft with approximately 800 daily departures to 124 cities in the United states, the District of Columbia, Canada, and Mexico. Mesa Air Group was founded in 1980 and is headquartered in Phoenix, Arizona.
Last Trade: 0.15
Day's Range: 0.0871 - 0.15
52wk Range: N/A - 1.38
Volume: 17,162,325
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