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Stock Alert: United Airlines 4% Higher

Shares of United Airlines Holdings Inc. (UAL) are rising almost 4 percent or $1.10 in Tuesday's morning trade at $30.56 despite no-stock specific news. U.S. stocks opened higher on Tuesday amid unrelenting optimism about an economic recovery.

Traders largely seem to be looking past the large-scale protests across the country amid expectations the economy will quickly rebound from the coronavirus-induced downturn. Stocks of companies that are expected to benefit from the reopening of the economy, including airline stocks, are higher.

In a message to United's nearly 100,000 employees last week, CEO Scott Kirby had said that the airline's chief operating officer Greg Hart was stepping down, but would stay on at the company to focus on "big picture issues" including cost structure changes. Kirby also warned of more cost-cutting measures and "tough times ahead."

The airline's schedule is expected to be down 75 percent in July, but represents a slight improvement over May and June.

The stock has traded in a range of $17.80 to $96.03 in the past 52 weeks.

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