News Summary (UAUA, AMR, LUV, AAWW, SNDK)
US Airline stocks were mixed after a threefold rise in the 2010 profit projections by the trade group, but the profit for 2011 is likely to soften to $5.3 billion. Shares of United parent UAL Corp (NASDAQ: UAUA) rose about 2.28%, American parent AMR Corp (NYSE: AMR) gained about 0.75% and Southwest Airlines (NYSE: LUV) moved up about 0.25%. The NYSE Arca Airline Index (XAL) rose about 0.77%.
Atlas Air Worldwide Holdings Inc (NASDAQ: AAWW) has raised its projections for 2010 adjusted earnings to $5.30 per share, from its previous guidance of $4.35 per share, due to high airfreight demand and tight supply. However, Wall Street analysts were expecting an EPS of $4.59. AAWW's shares jumped about 11%.
US Tech stocks moved down led by SanDisk Corp (NASDAQ: SNDK). Shares of SanDisk fell about 4.7% after analysts at Sterne Agee downgraded the company from “buy” to “neutral” to reflect the "peaking consumer builds." The Morgan Stanley High Tech 35 Index (MSH) was down about 0.22%, while the Philadelphia Semiconductor Index (SOX) lost about 0.15%.
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