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Asian airlines may be poised for further stock gains as strength in the region’s currencies and signs of a global economic recovery feed analysts’ expectations for improvements in travel demand.

Asian markets end broadly higher as investors snap up shares of commodity producers and airlines on hopes the global economic recovery is gaining steam.

Having gone through a recent rough patch, airlines in Asia are increasingly receiving positive reviews and upgrades from analysts, offering a boost to their shares.

Chinese shares claw back some lost ground Tuesday as investors look for bargains in metals stocks following the previous sessionâ??s steep declines.

Global airline losses may total $4.7 billion this year as revenues plunge below levels seen after the terrorist attacks of September 11, 2001, the International Air Transport Association said today (Tuesday).

The revised loss estimate, nearly double the previous forecast issued in December, reflects “the rapid deterioration of the global…

Nissan Motor (NSANY) and Chrysler are already working together on pickups and subcompact cars. Now the two are discussing jointly producing mid-size cars that would be sold in the U.S. under Chrysler's name[More...]

Filed under: Before the bell, Analyst reports, Analyst upgrades and downgrades, Bad news, Polo Ralph Lauren'A' (RL), Stocks to Sell

MOST NOTEWORTHY: Papa John's (PZZA), Wynn Resorts (WYNN), SourceForge (LNUX), Cathay Pacific (CPCAY) and Arthur J. Gallagher (AJG) were today's noteworthy downgrades:

• Matrix downgraded shares of Papa John's (NASDAQ: PZZA) to Hold from Strong Buy to reflect minimal improvement to fundamentals and negative free cash flow trends.

• Wynn Resorts (NASDAQ: WYNN) was downgraded to Peer Perform from Outperform based on valuation as the firm believes shares fully reflect solid Las Vegas & Macau fundamentals and the company's development pipeline.

• SourceForge (NASDAQ: LNUX) was cut to Underperform from Market perform at JMP Securities, with a $3 target, following the disappointing results.

• Merrill Lynch downgraded Cathay Pacific (OTC: CPCAY) to Sell from Buy on valuation.

• Arthur J. Gallagher (NYSE: AJG) was cut to Underperform from Peer Perform at Bear Stearns as they believe margin expansion will be lower than expected, softening insurance pricing will impact organic growth, and cites managements acquisition desires over aggressive repurchases...

OTHER DOWNGRADES:

• PolyMedica (NASDAQ: PLMD) was downgraded to Hold from Buy.

• Merrill downgraded Polo Ralph Lauren (NYSE: RL) to Neutral from Buy.

• Morgan Stanley cut Arch Coal (NYSE: ACI) to Underwieght from Overweight.

• JP Morgan downgraded Sonic (NASDAQ: SONC) to Neutral from Overweight.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

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