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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 | .47 | .73 | 2/8 | .96 | 1.32 | 10/1 | .67 | .35 | |||
7/13 | .00 | .37 | 2/9 | 1.06 | 1.32 | 10/2 | .57 | .79 | |||
7/16 | 1.97 | 2.21 | 2/10 | .57 | .33 | 10/3 | 1.27 | 1.27 | |||
7/17 | 1.97 | 1.69 | 2/11 | .77 | 4.33 | 10/6 | .27 | 3.57 | |||
7/18 | 2.26 | 1.16 | 2/12 | .47 | .14 | 10/7 | 2.37 | .40 | |||
7/19 | .90 | .65 | 2/15 | 1.27 | 3.53 | 10/8 | .67 | .67 | |||
7/20 | .96 | 1.09 | 2/16 | .67 | .67 | 10/9 | .47 | .34 | |||
7/23 | .78 | .48 | 2/17 | .47 | .28 | 10/10 | .47 | .33 | |||
7/24 | .27 | .03 | 2/18 | .47 | .25 | 10/13 | .00 | .27 | |||
Given the above information, calculate the cumulative abnormal return (CAR) for these stocks as a group. (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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