Top Takes From RealMoney

The RealMoney contributors are in the business of trading and investing all day on the basis of ongoing news flow. Below, we offer the top five ideas that RealMoney contributors posted today and how they played those ideas.

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Airlines Are Grounded

By Tim Melvin
1:45 p.m. EDT

The picture in the airline industry is becoming clearer. The discount carries are stealing market share from the legacy carriers and I think it is just going to get worse.

AirTran(AAI Quote) turned in an operating profit for the quarter and expects to have profits in the third as well. Delta(DAL Quote) on the other hand showed a huge loss and does not expect to be profitable for the year. Lower-cost providers like Airtran and Southwest(LUV Quote) will be winners as the economy and consumer continue to contract and it will be at the expense of larger lines.

None of the airline executives reporting today expect the industry to show any meaningful growth until 2011 at the earliest. A paired trade of long AirTran and Southwest while shorting Delta, AMR(AMR Quote) and United(UAUA Quote) makes a lot sense.

Long Southwest.

Carlisle Blasts Off

By Gary Morrow
12:50 p.m. EDT

Carlisle(CSL Quote)is in the top five of percentage gainers on the NYSE following this morning's pre-market second-quarter report. The stock is up over 12% on a big surge in trade. Volume is running at more than triple the daily average, making today the heaviest positive day in a year.