America West, Mesa lead rally
Atlantic Coast files complaint against Mesa Air
By Shawn Langlois, CBS.MarketWatch.com
Last Update: 4:19 PM ET Oct. 28, 2003
SAN FRANCISCO (CBS.MW) -- Airlines stocks soared along with the rest of the broad market Tuesday afternoon following the Federal Reserve's decision to leave interest rates unchanged.
America West, Mesa Air lead broad sector rally
Airline stocks close down as JetBlue gives way
Stocks to watch: MSFT, AEE, JDSU, DCN, GTW
More news for ACA
The Amex Airline Index (XX:$XAL: news, chart, profile) finished the day up 1.5 points, or 2.3 percent, at 67.
Atlantic Coast Airlines (ACAI: news, chart, profile) said it filed a complaint alleging that Mesa Air Group violated federal securities laws in its merger efforts. Atlantic Coast contends Mesa made "materially false and misleading statements and omissions" in connection with its proposed consent solicitation and potential exchange offer.
Atlantic Coast, with its stock closing up 51 cents, or 4.7 percent, at $11.26, said Mesa failed to identify United Airlines as a backer of its merger attempt. United issued a statement denying that it participated in Mesa Air's bid to acquire Atlantic Coast.
Mesa Air's stock (MESA: news, chart, profile) was one of the leading percentage gainers in the sector, adding 63 cents, or 6.1 percent, at $11.03, while United (UALAQ: news, chart, profile) eked out less than a penny to close at $1.04.
Elsewhere, America West shares (AWA: news, chart, profile) rose 82 cents, or 6.3 percent, to end the day at $13.82.
Topping the group's volume list, AMR Corp. (AMR: news, chart, profile) climbed 20 cents, or 1.6 percent, to finish at $13.10 on 4.98 million shares changing hands.
Other notables include Southwest (LUV: news, chart, profile), up 38 cents, or 2 percent, to close at $19.21; JetBlue (JBLU: news, chart, profile), up 89 cents, or 1.6 percent, at $57.70; and AirTran (AAI: news, chart, profile), up 25 cents, or 1.5 percent, at $16.87.
Shawn Langlois is a reporter for CBS.MarketWatch.com, and the editor of its community message boards.
Atlantic Coast files complaint against Mesa Air
By Shawn Langlois, CBS.MarketWatch.com
Last Update: 4:19 PM ET Oct. 28, 2003
SAN FRANCISCO (CBS.MW) -- Airlines stocks soared along with the rest of the broad market Tuesday afternoon following the Federal Reserve's decision to leave interest rates unchanged.
America West, Mesa Air lead broad sector rally
Airline stocks close down as JetBlue gives way
Stocks to watch: MSFT, AEE, JDSU, DCN, GTW
More news for ACA
The Amex Airline Index (XX:$XAL: news, chart, profile) finished the day up 1.5 points, or 2.3 percent, at 67.
Atlantic Coast Airlines (ACAI: news, chart, profile) said it filed a complaint alleging that Mesa Air Group violated federal securities laws in its merger efforts. Atlantic Coast contends Mesa made "materially false and misleading statements and omissions" in connection with its proposed consent solicitation and potential exchange offer.
Atlantic Coast, with its stock closing up 51 cents, or 4.7 percent, at $11.26, said Mesa failed to identify United Airlines as a backer of its merger attempt. United issued a statement denying that it participated in Mesa Air's bid to acquire Atlantic Coast.
Mesa Air's stock (MESA: news, chart, profile) was one of the leading percentage gainers in the sector, adding 63 cents, or 6.1 percent, at $11.03, while United (UALAQ: news, chart, profile) eked out less than a penny to close at $1.04.
Elsewhere, America West shares (AWA: news, chart, profile) rose 82 cents, or 6.3 percent, to end the day at $13.82.
Topping the group's volume list, AMR Corp. (AMR: news, chart, profile) climbed 20 cents, or 1.6 percent, to finish at $13.10 on 4.98 million shares changing hands.
Other notables include Southwest (LUV: news, chart, profile), up 38 cents, or 2 percent, to close at $19.21; JetBlue (JBLU: news, chart, profile), up 89 cents, or 1.6 percent, at $57.70; and AirTran (AAI: news, chart, profile), up 25 cents, or 1.5 percent, at $16.87.
Shawn Langlois is a reporter for CBS.MarketWatch.com, and the editor of its community message boards.
