Why United Continental (UAL) Stock Is Up Today

NEW YORK (TheStreet) -- United Continental  (UAL) rose Friday after U.S. airlines resumed flights to Israel on Thursday following a two-day ban.

The FAA had banned U.S. flights to Israel after a combat in the Gaza Strip, but the flights resumed Thursday.

United also announced a $1 billion share buyback program over three years and reported better-than-expected second-quarter earnings. Net income soared 51% year over year to $919 million, or $2.34 a share excluding items. This beat the consensus estimate of $2.19 a share by 15 cents. Revenue rose 3.3% to $10.33 billion, which also beat analysts' expectations.

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The stock was up 5.16% to $47.24 at 11:15 a.m.

Separately, TheStreet Ratings team rates UNITED CONTINENTAL HLDGS INC as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate UNITED CONTINENTAL HLDGS INC (UAL) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its notable return on equity, good cash flow from operations and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, generally higher debt management risk and poor profit margins."

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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