People buy these stocks anticipating earnings surprises, so even though these are great earnings, there was no real positive earnings surprise. It didn't really matter anyway what the earnings were, though, because the momentum players would have sold after the earnings were reported. They buy on the rumor, sell on the news.
More Quotes from Glenn Engel:
This decision has been how many years The fact that there had been no decision at all was the same to BA-AA as an outright rejection.Glenn Engel
When BA starts growing aggressively again, then the U.K. government will be more willing to open up Heathrow. Why flood the market with supply now
Glenn Engel
Being in the middle of the pack isn't particularly exciting in the airline world, because the middle of the pack isn't making money.
Glenn Engel
If it weren't for low fuel prices, industry profits would be down significantly in the fourth quarter.
Glenn Engel
We estimate that after losing 4 billion pretax in 2005 and 28 billion over the past five years, the U.S. passenger airlines could approach break-even in 2006.
Glenn Engel
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