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Delta, United, and American Airlines announced purchases of planes on July 18 (7/18), February 12 (2/12), and October 7 (10/7), respectively. Delta United American Date
Delta, United, and American Airlines announced purchases of planes on July 18 (7/18), February 12 (2/12), and October 7 (10/7), respectively. |
Delta | United | American | ||||||
---|---|---|---|---|---|---|---|---|
Date | Market Return | Company Return | Date | Market Return | Company Return | Date | Market Return | Company Return |
7/12 | .45 | .69 | 2/8 | .94 | 1.28 | 10/1 | .65 | .37 |
7/13 | .00 | .35 | 2/9 | 1.04 | 1.28 | 10/2 | .55 | .75 |
7/16 | 1.68 | 1.88 | 2/10 | .55 | .35 | 10/3 | 1.25 | 1.25 |
7/17 | 1.68 | 1.44 | 2/11 | .75 | 3.93 | 10/6 | .25 | 3.17 |
7/18 | 2.24 | 1.14 | 2/12 | .45 | .16 | 10/7 | 2.35 | .42 |
7/19 | .88 | .67 | 2/15 | 1.25 | 3.20 | 10/8 | .65 | .65 |
7/20 | .94 | 1.05 | 2/16 | .65 | .65 | 10/9 | .45 | .34 |
7/23 | .76 | .50 | 2/17 | .45 | .30 | 10/10 | .45 | .22 |
7/24 | .25 | .05 | 2/18 | .45 | .27 | 10/13 | .00 | .25 |
Given the above information, calculate the cumulative abnormal return (CAR) for these stocks as a group. All of the stocks have a beta of 1 and no other announcements are made. (A negative answer should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) |
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