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Shares of United Airlines dipped in extended trading after the company reported a net loss of $1.62 billion for the second quarter. The coronavirus pandemic's impact on travel fueled an 87% year-over-year revenue decline for the Chicago-based airline. "A major leadership shift dominated the day," Jim Paulsen, chief investment strategist at the Leuthold Group, told CNBC. "Old leadership led by Large cap technology and comms gave way to strong upside moves in the broader market including most cyclical sectors."
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