United goes from 'the doghouse' to record stock price

United' shares have hit a record high, a dramatic turnaround for the airline after it weathered a rash of public relations disasters and investors who fretted the carrier's growth plan would spark a fare war with competitors and a surge in expenses. United Continental Holdings' stock closed at an all-time high of $89.58 on Thursday and shares of the third-largest US airline's parent were on track to hit another record Friday, trading up 0.7% around 3 p.m. The carrier's stock this year is up more than 33% — more than any other US airline — and a bigger percentage gain than the S&P 500, which is up 8% in 2018. American Airlines shares are down more than 23%, while Delta is up 3.5% this year. Investors in January sent United's stock tumbling 11%, as executives struggled through the second tense earnings call in a row, that time explaining an aggressive growth plan to expand as much as 6% a year. "They were in the doghouse from the market's perspective," said Jamie Baker, senior airline analyst at J.P. Morgan Chase. While Delta and American cut their profit outlook for this year in July, United raised its estimate. United said it was recovering most of a profit-crimping surge in fuel costs through higher fares and other initiatives. "We think they're back where they want to be," said Susan Donofrio, airline analyst at Macquarie.<br/>