NEW YORK -- Airline stocks climbed Wednesday following an improved monthly revenue report from Continental, and after Morgan Stanley upgraded the stock of two major carriers. At last check, the NYSE Arca Airline Index jumped nearly 2% to 29.08 with all but two of its 13 components trading up. Shares of American parent AMR Corp. rose 4.3% to $6.56 and United parent UAL Corp. rose 6.8% to $8.83 after Morgan Stanley upgraded the legacy carriers to overweight from equal weight, saying it was unlikely there will be a better entry point for investors. Continental shares climbed 3.3% to $15.45 after posting a single-digit decline in unit revenue for the first time since the downturn began.
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