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As Fast As Rumors Run Stock, Delta/United Deny Talks (UAUA, DAL)
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Delta Air Lines (NYSE:DAL) has canned the notions and the reports on Wall Street and Main Street that it is in merger dicusssions with United Airlines’ parent UAL Corp. (NASDAQ:UAUA).
Wall Street has just shown the two that their stocks will rise if they so choose to merge because UAL (UAUA) traded as high as $49+ before closing up 1.5% at $44.17, while Delta traded as high as $21.10 before closing up 4.3% at $19.56.
Assuming you belive the companies about not being in talks (despite their denial), you can blame rumor-mongering or overly aggressive reporting.
Jon C. Ogg
November 14, 2007
Jon Ogg produces the more detailed 24/7 Wall St. subscriber-based Special Situation Investing Newsletter which covers "actual" buyouts, reorganizations, spin-offs and more; he does not own securities in the companies he covers.
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