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Airline Stocks Currently Poised for Upside

Airlines have underperformed the broader market in the past month, as investors worry about rising geopolitical tensions and higher fuel prices. United Continental's (UAL) earnings report, due out tomorrow, could be an opportunity to move sentiment back into positive territory, but either way airlines look like a buy today, argues Bernstein's David Vernon. Investors may recall that United's fourth-quarter earnings caused the sector to slump at the beginning of the year, on capacity worries.