...unless you thought oil was going down? Hmmm.
Of course, they also made a pretty bad call with the whole housing thing, so who knows.US Airways to sell 19M shares
US Airways Group Inc. stock dropped as much as 91 cents — nearly 10 percent a share — since trading resumed Thursday after a temporary halt to set in motion an offering of 19 million shares.
The deal, underwritten by Merrill Lynch & Co., would give the Tempe, Ariz., airline (NYSE:LCC) about $155 million in net proceeds, which it plans to use for "general corporate purposes." US Airways, along with other airlines, has struggled with high fuel costs of late. It reported a net loss of $567 million, of $6.16 per share, in the second quarter.