Continental Airlines (CAL) Higher Following Merger Openness

Shares of Continental Airlines Inc. (NYSE: CAL) are higher following a report from Reuters, quoting the CEO in a recorded message, saying the company would consider a merger to stay competitive.

Last week, US Airways Group (NYSE: LCC) made an $8 billion bid for bankrupt rival Delta Air Lines (OTC: DALRQ), sparking talk of more consolidation in the sector.

Shares of Continental Airlines are 3.7% higher to $44.10 in mid-day action.