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The adage “buy the rumor, sell the news” was in full play within the airline sector Thursday. United Continental (UAL) and its peers reported earnings that topped estimates Thursday as passenger revenue heats up. But United’s stock swung from a solid early gain to a 1.08-point loss to 44.92. United, the third-largest domestic airline, reported a 49% jump in second-quarter earnings to $2.34 per share. Analysts polled by Thomson Reuters were Scalper1 News
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