Morning Movers & Shakers: McDonald’s, Exxon Mobil, United Continental, More

United Continental To Book $434 Million in Charges

United Continental Holdings Inc (NYSE:UAL) is making moves today after it was announced on Tuesday that United Airlines would take $434 million in charges in the second quarter, mainly due to the Federal Aviation Administration’s decision to remove the restriction on flights at Newark Liberty International Airport. The restriction, which was removed in April, had dented the Chicago, Illinois-based airliner’s valuable landing and takeoff slots.

As of the end of March, 61 funds in our system owned shares of United Continental Holdings Inc (NYSE:UAL), down from 73 a quarter earlier. Paul Reeder and Edward Shapiro’s PAR Capital Management owned around 14.38 million shares of the company on March 31.

Honeywell, Airbus to Develop a System to Avoid Runway Excursions

Honeywell International Inc. (NYSE:HON) is in the spotlight today after the Wall Street Journal revealed that the company has reached an agreement with Airbus Group SE to develop a system to avoid runway excursions by aircraft. The source said both companies are expected to announce the deal today. The system would be in accordance with the European safety rules to combat runway veer-offs, the report added. A total of 55 hedge funds in our database were bullish on Honeywell International Inc. (NYSE:HON) at the end of the first quarter.

Disclosure: None