NEW YORK (TheStreet) -- Shares of United Continental Holdings Inc. (UAL) are higher by 3.96% to $47.83 in mid-morning trading on Monday, as airline stocks take off as a result of lower oil futures prices.
Brent crude fell on Monday by almost $2, trading below $102 a barrel, as Libya accelerated its oil output and concerns regarding supplies from Iraq eased, Reuters reports.
Brent crude for October delivery declined by $1 to almost $102 per barrel and U.S. crude for September delivery was also down by $1 to near $96 a barrel, Reuters added.
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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 impressive record of earnings per share growth, revenue growth and notable return on equity. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and poor profit margins."