livingthedream

"Among low-cost carriers, ExpressJet Holdings (XJT, Trade ) was upgraded to buy from add at Calyon Securities on Friday, following the stock's 40% plunge in prior-day trading and the certainty that its acquisition by SkyWest Inc. (SKYW, Trade ) will eventually get done.

If a merger with SkyWest doesn't happen, ExpressJet is likely to go bankrupt, the investment research firm said in a note. However, Continental, ExpressJet's former parent and is its largest customer, would likely rather avoid dealing with bankruptcy courts and is a motivational force in seeing the deal done, Calyon said.

Shares of ExpressJet rose 15.5% to $1.86, while SkyWest lost 3.2% to $14.99."

.....interesting