UAL bankrupt...rumor!

[wmuflyguy]

Not sure where you get your info. This from yahoo.finance.com

UAL Corporation (UAUA)At 11:27AM ET: 8.97

3.33 (27.07%)

My brokerage website at the time(also CNBC put up the chart). It is now 8.97, I posted that about 20 minutes ago

 

[whatitdoing?]

News is reporting that UAL's Chapter 11 filing is pending.......wtf? What the hell happened since I got back from work? Looks like some sort of wrong report?

 

[Metro752]

A lot of United lawyers scrambling in Chicago during the lunch hour.

 

[Metro752]

http://finance.google.com/finance?q=NASDAQ:UAUA&hl=en

$11.69 UAUA

 

[JA'd]

This whole incident pretty much sums up why the price of oil and airline stocks are the way they are. Everyone wants to put out news as soon as possible without checking dates accuarcy etc.. so as to make the stocks move. These knee jerk reactions are what are helping screw us all.

 

[freeflyer14]

This whole thing is something straight out of "Wall Street".

"Blue horse shoe loves anacot steel."

 

[Raskal]

Somebody just made a boatload of cash. Wonder if we'll ever hear who.

 

[Fly2AK]

As you may be aware, an article appeared on a newspaper’s website with today’s date but with UAL bankruptcy news from 2002. This prompted a sell-off and a cessation of trading of UAUA stock this morning. This bankruptcy news is completely and totally false as it relates to United Airlines. An investigation has begun. Please read the United Airlines press release for further information

 

[brokedash]

Somebody just made a boatload of cash. Wonder if we'll ever hear who.

Any takers that Tilton and the Tribune were both behind this and the split the profits?

 

[Poahi]

Any takers that Tilton and the Tribune were both behind this and the split the profits?

You can be assured that the trades will be analyzed and if there was improper conduct, it will see the light of day. On the other hand, if you were smart and bought UAUA at less than a buck, you could quit working for the airlines.

United traders about about as jittery as their lenders.

 

[SilverandSore]

Any takers that Tilton and the Tribune were both behind this and the split the profits?

Only a few thousand shares were sold at $0.01. Total cost of investement...$20. After going back up to $10, investment = $20,000. Hardly the get rich scheme people are thinking...

You think you can quit the airlines on that?

 

[bizicmo]

That's what I was going to make at Continental this year before I got furloughed.

 

[Poahi]

Only a few thousand shares were sold at $0.01. Total cost of investement...$20. After going back up to $10, investment = $20,000. Hardly the get rich scheme people are thinking...

You think you can quit the airlines on that?

... and some sold for 5 cents, 10, 20, 30, 50 etc....

If you don't think this is a big deal, watch the news over the next few months. The truth will come out.

 

[Q400 Gear Bitch]

Only a few thousand shares were sold at $0.01. Total cost of investement...$20. After going back up to $10, investment = $20,000. Hardly the get rich scheme people are thinking...

You think you can quit the airlines on that?

No but that's beer money for at least a year...ok maybe six months with a hooker or two.

 

[puddlejumper101]

Pretty good ROI over a few days though.

 

[CaptJax]

SEC Opens Probe Into UA Share Price Drop: Report

SEC opens probe into UAL share price drop: report


WASHINGTON (Reuters) - Securities regulators have opened a preliminary investigation into UAL Corp's (UAUA.O) stock drop after an outdated story about its bankruptcy was treated as current, breaking news, people familiar with the matter told the Wall Street Journal.

The U.S. Securities and Exchange Commission is looking into whether there was any improper behavior behind the release on Monday of a 2002 Tribune Co (TXA.N) news story about the bankruptcy filing, people told the journal.

The company's stock price dropped 76 percent to $3 after the article was posted on the Bloomberg financial news service. It later recovered.

The inquiry is in its early stages and may not evolve into a full investigation, a person familiar with the matter said.

A spokeswoman from UAL said: "Our investigation as to how and why this happened is ongoing. It would be inappropriate for us to comment on any aspect of the investigation while it is under way."

The SEC declined to comment. A Tribune spokesman also declined comment.

On Wednesday, Tribune blamed technology owned by search engine company Google Inc (GOOG.O) for treating the outdated story as new.

Tribune said in a news release that it had identified problems with Google's "Googlebot" technology months ago and asked the company to stop using it to "crawl" for stories on its website.

The story appeared over the weekend on an inner page of the website of Tribune's South Florida Sun-Sentinel newspaper in Fort Lauderdale. Google News then featured it in its search results, where it was discovered by Miami Lakes, Florida-based investment firm Income Securities Advisers.

(Reporting by Washington and New York newsrooms; Editing by Andre Grenon)

09/11/08 18:03 ET