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Alaska Air leaps on (temporarily?) improved market sentiment

Alaska Air shares leapt 19% on Monday, more than reversing a 14.2% fall on the previous Friday – apparently as investors saw the potential of a new codeshare with Delta, designed to provide considerable feed from Delta’s Pacific network.

Continental led the other majors up in a double digit rally which has now become typical of the US exchange, grossly exaggerating the positive or negative substance of the day. Continental stocks rose 17.4%, United's 15.4%, US Airways' 14.1% and American's up 13.0%.

 

 

North America selected airlines daily share price movements (% change): 24-Nov-08