United Airlines raises 2019 profit outlook

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Dow transports suffer unanimous selloff; 2-day drop is biggest in a year

The Dow Jones Transportation Average tumbled 270 points, or 2.7, with all 20 components losing ground, led by weakness in Avis Budget Group Inc.’s stock and airline shares. The two-day decline of 514 points points, or 5.0%, is the biggest two-day percentage selloff since it fell 5.1% in the two days ending Oct. 24, 2018. Among the index’s biggest decliners, shares of Avis Budget Group Inc.’s slumped 7.1%, Delta Air Lines Inc. lost 6.5%, United Airlines Holdings Inc. dropped 5.9% and American Airlines Group Inc. slid 5.9%. Meanwhile, the Dow transports’ sister index, the Dow Jones Industrial Average dropped 522 points, or 2.0%, to bring the two-day drop to 866 points, or 3.2%.

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