United Airlines stock outperforms competitors on strong trading day, leads S&P 500
The recent weeks have been challenging for the airline industry, but the earnings season may be showing signs of a potential turnaround. United Airlines stock (UAL) surged 17.5% to close at $48.74 on Wednesday, leading the S&P 500 index after the airline reported its quarterly earnings late Tuesday.
The rally in United Airlines stock also boosted other shares across the sector, with American Airlines stock gaining 6.6%, Delta Air Lines closing up by 2.86%, and Southwest Airlines rising by 2.6%.
However, these gains come against a backdrop of significant drops earlier in April; United’s stock had fallen 15%, American’s 13%, and Delta’s 2.8% through Tuesday’s close.