dow jones this morning

2349 GMT [Dow Jones] Australian travel company Flight Centre (FLT.AU) will likely catch investors' attention after the company announced a pretax profit upgrade, helped by travellers taking advantage of a strong Australian dollar and affordable international airfares. The upgrade for FY11 to between A$243 million and A$247 million, from the previously expected A$220 million-A$240 million, is a bright spot in a consumer space that has seen retailers in the doldrums. Morgan Stanley said in a note before the upgrade that it was expecting Flight Centre's share price to rise over the next two months because it has "traded off" recently. "Flight Centre has a proven track record of consistent earnings growth through the organic consolidation of the Australian travel market," it said. Flight Centre's shares closed Thursday at A$21.22. ([email protected])