03-Dec-2009 2:35 PM
United and American up on analyst upgrades, Continental estimates improved yield for Nov-2009
Analysis
The majority of North and South American carriers were up again on Wednesday (02-Dec-2009), raising the AMEX Airline Index (+3.7%) to its highest point in six weeks. The rise came despite a slip in the Dow, down 0.2% at the end of trading, but were assisted by a 2.3% drop in oil prices, to USD76.60, following two days of gains. optionMonster suggested that United and Continental were in a "stock surge" as the industry is undervalued for investors.
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