That pattern could reflect Alitalia shareholders' optimism for a coming bid and relief on the part of Air France holders that it won't be from their company.
Dave Lewis, the new boss of Tesco, has already given his shareholders reasons for some optimism, with the beginnings of a sales revival delivered through carefully targeted price cuts, better availability and improved customer service.
In his statement to shareholders, Mr. Hewlett expressed continued optimism that he would prevail.
Let's see if shareholders agree with his apparent optimism about Nokia's future.
Although the S.E.C. has not reported any wrongdoing at Lucent, its elevation of the investigation to a formal inquiry from an informal one gave optimism to lawyers representing shareholders in class-action lawsuits against the company.
But after experiencing several years of decent, but not stellar, returns from its spending spree, G.E. shareholders are right to temper their earlier optimism.
That optimism is apparent among Ports shareholders, too.
He expressed optimism about talks with the Securities and Exchange Commission and settlement discussions with Enron shareholders and creditors.
Another reason for modest optimism is that many companies have turned senior managers into substantial shareholders, ensuring that their interests are more closely aligned with those of other owners of the business.
