CRT Capital Group has upgraded Continental (NYSE: CAL) and United Airlines parent UAL Corp (NASDAQ: UAUA) from “fair value” to “buy” to reflect the probable merger on October. 1. Michael Derchin, an analyst with CRT said, "The timing is right for this merger to be successful in our opinion." He added, "The industry is benefiting from modest revenue growth during the early stages of a slow economic recovery. The credit markets are open. Oil prices are high but manageable."
Edgar Online Inc (NASDAQ: EDGR) has announced John Connolly as its interim president and Chief Executive Officer (CEO), with effect from September 30. Connolly will be replacing Philip Moyer.
Liberty Mutual Agency Corp has planned to offer 64.3 million shares within an expected price range of $18 to $20 per share in a bid. The offering will raise around $1.2 billion in its forthcoming Initial Public Offering (IPO). Liberty Mutual Agency has planned to trade under the symbol “LMAC” on the NASDAQ.
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