NEW YORK (TheStreet) -- Shares of United Continental Holdings Inc. (UAL) are higher by 1.41% to $66.98 in late afternoon trading on Wednesday, as some airline stocks get a boost from the drop in oil prices, which could result in lower fuel costs.
Crude for February delivery is down by 0.43% to $53.89 per barrel on the NYMEX Wednesday afternoon.
Crude oil finished 2014 lower by 46%, MarketWatch reports.
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Prices are being pressured by weak demand and a supply glut caused by the boom in U.S. shale and OPEC's decision not to reduce its output, Reuters reports.
Oil prices were under increased pressure on Wednesday as a survey out of China showed the country's factory industry declined in December, the first time in seven months. Reuters calls this a "bearish indication" of the strength of oil demand from the second largest consumer in the world.
Separately, TheStreet Ratings team rates UNITED CONTINENTAL HLDGS INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate UNITED CONTINENTAL HLDGS INC (UAL) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, notable return on equity and good cash flow from operations. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."