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Wall Street airlines - Airlines trade mainly higher after Southwest's results
AFX
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SAN FRANCISCO (AFX) -- Southwest Airlines led the airline sector higher Thursday after the low-cost carrier's stronger-than-expected profit kicked off quarterly earnings season.
The Amex Airline Index added 0.7% to 49.45 points as the broader market moved higher as well.
Shares of Southwest rose 3.7% to $14.48 with more than 2.1 million shares changing hands. Second-quarter revenue increased noticably, while the airline's aggressive fuel hedging continues to help protect it against rising jet-fuel costs.
Also rising, JetBlue Airways gained 2.1% to $21.67.
AMR Corp. , the parent of American Airlines, rose 1.1% to $12.93.
Continental Airlines edged 0.1% to $14.77.
On the downside, shares of Delta Air Lines lost 0.6% to $3.42 and Northwest Airlines fell 0.2% to $4.68.
The larger legacy airlines will report their quarterly results next week.
This story was supplied by MarketWatch. For further information see www.marketwatch.com.
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