Premarket Movers: Airlines fly as oil falls, merger stalls

The operator of United Airlines saw its shares rise 4.9 percent to $8.58 while US Air added 21 cents, or 4.7 percent, to $4.65.

Oil prices fell below $127 a barrel Wednesday, extending a decline of more than $3 in the previous session on a growing sense that record-high costs have cut demand for gasoline and other fuel. Shares of AMR Corp., parent of American Airlines gained 28 cents to $7.12 and Continental Airlines Inc. added 31 cents to $14.14 in early action. The price of fuel is a major cost for airline operators.

On the losing side, shares of JetBlue Airways Corp. turned lower after the carrier said it plans to significantly slow its fleet growth, saying Tuesday it will delay buying 21 new Airbus jetliners for four to five years as it struggles to cope with soaring fuel costs. Shares fell 2.7 percent to $4.29 from a close of $4.41 Tuesday.

And Jamba Inc., which operates the Jamba Juice chain, late Tuesday reported a loss in its fiscal first quarter due to a smaller gain from derivatives and slow sales at California stores. Shares fell 3.6 percent to $2.41 from a $2.50 close Tuesday.