charging the show cause order did not decide which of the two notices of appeal filed in this case conferred jurisdiction upon this court. We now find it necessary to explain which notice of appeal conferred jurisdiction.
The first notice of appeal was filed in this case on July 28, 1989. That notice served as an appeal from the district court’s order of June 29, 1989, which, except for reducing the economic loss award downward from $300,000 to $184,038, denied both Moody’s and Pepsi’s post-trial motions asking for a JNOV, a new trial, or an amendment of the judgment. At the time the first notice of appeal was filed, Pepsi's July 14, 1989, motion for reconsideration of the order of June 29, 1989, was still pending.
Federal Rule of Appellate Procedure 4(a)(4) provides:
If a timely motion under the Federal Rules of Civil Procedure is filed in the district court by any party: (i) for judgment under Rule 50(b); (ii) under Rule 52(b) to amend or make additional findings of fact, whether or not an alteration of the judgment would be required if the motion is granted; (iii) under Rule 59 to alter or amend the judgment; or (iv) under Rule 59 for a new trial, the time for appeal for all parties shall run from the entry of the order denying a new trial or granting or denying any other such motion. A notice of appeal filed before the disposition of any of the above motions shall have no effect.
Thus, Pepsi’s and Moody’s initial post-trial motions tolled the appeals period until June 29, 1989, the date of the district court’s denial of those motions.
Motions for reconsideration of a judgment are construed as motions to alter or amend the judgment and are time tolling for the purposes of Rule 4(a)(4). Kennedy v. City of Cleveland, 797 F.2d 297, 304-05 (6th Cir.1986), cert. denied, 479 U.S. 1103, 107 S.Ct. 1334, 94 L.Ed.2d 185 (1987). However, “[a] motion to reconsider an order disposing of a [time tolling post-trial] motion of the kind enumerated in ... Rule 4(a)[ (4) ] does not again terminate the running of the time for appeal,” Dixie Sand and Gravel v. TVA, 631 F.2d 73, 74 (5th Cir. Unit B 1980) (followed by Reed v. Toledo Area Affirmative Action Program, 715 F.2d 253 (6th Cir.1983) (per curiam), cert. denied, 469 U.S. 1221, 105 S.Ct. 1207, 84 L.Ed.2d 350 (1985)), unless a grant of the earlier post-trial motion effectively results in a new judgment and the motion to reconsider is filed by the adversely affected party requesting reinstatement of the original judgment. York v. Tate, 858 F.2d 322, 326 (6th Cir.1988), cert. denied, — U.S. -, 109 S.Ct. 1960, 104 L.Ed.2d 428 (1989). Accordingly, we hold that Pepsi’s July 14, 1989, motion seeking reconsideration of the district court's order of June 29, 1989, disposing of the parties’ motion for JNOV, new trial or amendment of the judgment, did not toll the appeals period. Consequently, Pepsi’s first notice of appeal, filed July 28, 1989, was timely and conferred jurisdiction, whereas the second notice of appeal was untimely.
Given our holding that the first notice of appeal was timely and conferred jurisdiction, we feel compelled to recognize that the district court lost jurisdiction over all matters involved in this appeal upon the filing of the first notice of appeal. See Jankovich v. Bowen, 868 F.2d 867, 871 (6th Cir.1989). Normally this would mean we would ignore the district court’s August 25, 1988, order further reducing the economic loss award; however, at oral argument, counsel for the plaintiff-appellee stated that when the economic loss award was amended downward the second time by the district court, the plaintiff-appellee agreed to the reduced amount. Counsel for plaintiff-appellee further stipulated at oral argument that the reduced amount, viz., $132,-818 was the maximum economic loss proven at the trial. Accordingly, we treat this as an appeal from the district court’s order of June 29, 1989, with the economic loss award further reduced to $132,818 per stipulation of the parties.
B.
Pepsi argues that the judgment must be vacated and the case remanded because of