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United Continental (UAL) Stock Soaring on Increased Profit Margin Forecast

NEW YORK (TheStreet) -- Shares of United Continental Holdings (UAL - Get Report) are higher by 2.79% to $52.26 in pre-market trading on Friday morning, following yesterday's announcement that the airliner is expecting a higher pre-tax profit margin for the recently concluded third quarter, than it had forecast previously.

The company is expecting a pre-tax margin between 16% and 17%, compared to its earlier prediction between 13.5% and 15.5%, Reuters reports.

United Continental has also narrowed its outlook for a decline in passenger unit revenue to a drop between 5.5% and 6%. The company had previously expected a decline of 5% to 7% for the third quarter.

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For the third quarter the company canceled fewer flights than it had expected, Reuters added. The fewer canceled flights resulted in a 2.1% capacity increase when compared to the same period last year.

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...