...meaning he wants a higher price, as he shops it around even more frantically.

...

Why is this bump happening in airline stocks? I think it's a) speculation about consolidation, and b) expecations of survival for another winter. Look at LCC, which also went up 17% when AMR announced the financing last week, and it seems rather obvious the market expects to be handed the Holy Grail: more consolidation.

For the foreseeable future, I guess stock prices jump at any hint of speculation, about the supposition of the inference of consolidation, maybe until the moment it doesn't happen. Gravely disappointed by our survival, they walk away, short United, bid up LUV. "Analysts" panick in face of the stock price drop, and three weeks later, they issue lower targets and offer dire warnings.

...or consolidation happens.

The rumor money changes hands on the news, and traders short United, and bid up LUV, while predicting the demise of the merged carriers. Analysts panick in face of the stock price drop, and three weeks later, they issue lower targets and offer dire warnings.