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Stock Market & Financial Investment News

News Breaks
June 9, 2014
08:26 EDTAALAmerican Airlines reports May traffic up 2.1%, sees Q2 PRASM up 5%-7%
American Airlines reported its total revenue passenger miles for May were 19.2B, up 2.1% from the same month last year. Capacity was 22.9B available seat miles, up 2.4%. Passenger load factor was 84.0%, down 0.3 points. Based on two months of actual data and one month of forecast, the company expects its Q2 consolidated passenger revenue per ASM to be up approximately 5%-7% versus the same period last year.
News For AAL From The Last 14 Days
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July 2, 2015
11:47 EDTAALStocks with call strike movement; AAL RAD
American Airlines (AAL) January 44 call option implied volatility increased 2% to 38, Rite Aid (RAD) January 10 call option implied volatility increased 3% to 40 according to IVolatility.
July 1, 2015
17:05 EDTAALJetBlue not contacted by Justice Department, Bloomberg says
JetBlue (JBLU) said it has not been contacted by the U.S. Justice Department regarding potential collusion within the industry, Bloomberg reports, citing emailed statements. On the other hand, American Airlines (AAL), Southwest (LUV), and United (UAL) have all confirmed receiving letters from the Department, noting that the information request covers the past two years.
16:28 EDTAALOn The Fly: Top stock stories for Wednesday
Stocks on Wall Street opened higher amid hopes for a resolution to the Greek debt crisis. The market also received help from positive reports from the ISM on manufacturing and ADP on the labor market. The averages saw their highs shortly after the open and then gradually drifted off those highs, while moving in a fairly narrow range. Investors will now be looking to the release of tomorrow’s nonfarm payrolls report, which will be out a day earlier than normal due to the Independence Day holiday. ECONOMIC EVENTS: In the U.S., ADP reported the private sector added 237,000 jobs in June, versus expectations for 218,000 job additions. Markit's manufacturing purchasing managers' index for June came in at 53.6, narrowly above the 53.4 forecast. ISM's manufacturing index rose to 53.5 in June, topping May's 52.8 reading and the 53.2 consensus forecast. Construction spending rose 0.8% in May, versus the expected growth of 0.5%. In China, manufacturing PMIs came in short of expectations. The HSBC/Markit PMI slipped to a final 49.4 in June from the flash reading of 49.6, while the government's official manufacturing PMI fell to 50.1 in June from 50.9 in May. In Europe, Greece officially missed its $1.7B payment to the International Monetary Fund last night. Reports then indicated that Greece's government was willing to make concessions that get it much closer to creditor demands. The new proposal for budget cuts and policy overhauls from Prime Minister Alexis Tsipras was dismissed by European officials, however, and Eurogroup president Jeroen Dijsselbloem said that he sees no need for further talks on Greece at this point and that he awaits the result of this Sunday's scheduled referendum. COMPANY NEWS: In a blockbuster deal in the insurance industry, ACE Limited (ACE) agreed to acquire Chubb (CB) in a cash and stock transaction valued in excess of $28B that will create the number one global Property and Casualty insurance company by P&C underwriting income and the number two U.S. public P&C insurer by market cap. ACE shares advanced 77c, or 0.76%, to $102.45 following the deal announcement, while Chubb surged $25.63, or 26.94%, to $120.77... U.S. airline stocks dropped after the Associated Press reported that the Justice Department is investigating potential "unlawful coordination" between companies attempting to artificially limit growth to keep fares high. Shares of American Airlines (AAL), Delta Air Lines (DAL), Southwest (LUV), United Continental (UAL) and JetBlue (JBLU) all closed lower by between 1.4% to 3.4% following the report. MAJOR MOVERS: Among the notable gainers was Schnitzer Steel (SCHN), which advanced 13.45% to $19.82 after BofA Merrill Lynch upgraded the shares two notches to Buy from Underperform and raised its price target to $21, saying scrap pricing should be nearing a trough with stability expected ahead. Also higher were shares of Dycom (DY), which gained 7.87% to $63.48 following a fourth quarter guidance hike, an announcement of a $40M repurchase plan and an upgrade to Buy at DA Davidson. Among the noteworthy losers was Baxter (BAX), which fell 44.43% to $38.86 after its spin-off of Baxalta (BXLT), whose shares fell 1.38% to $31.50. Baxter was downgraded to Neutral from Outperform at Credit Suisse after the research firm updated its valuation of Baxter to reflect the split. Also lower was Graham Holdings (GHC), which fell 35.48% to $693.63 after the company completed its spin-off of Cable ONE (CABO), whose shares lost 6.23% to $399. Additionally, shares of General Motors (GM) fell 0.87% to $33.04 after the company halted production at its Russian plant and reported June U.S. sales dropped 3%. INDEXES: The Dow rose 138.40, or 0.79%, to 17,757.91, the Nasdaq gained 26.26, or 0.53%, to 5,013.12, and the S&P 500 advanced 14.31, or 0.69%, to 2,077.42.
16:00 EDTAALOptions Update; July 1, 2015
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14:28 EDTAALAirlines fall after Justice Department said to probe possible collusion
Major U.S. airline stocks are dropping precipitously in intraday trading following a report of a Justice Department investigation into potential "unlawful coordination" between companies attempting to artificially limit growth to keep fares high. WHAT'S NEW: The Associated Press has obtained a document showing that the U.S. Justice Department is investigating whether major airlines might be colluding to slow their growth in order to maintain high airfares. A spokesperson for the Department confirmed that it is probing airlines over possible "unlawful coordination," though she did not name specific companies in the sector. WHAT'S NOTABLE: Today's report of possible collusion within the industry follows a period of volatility among airline stocks in late May and early June on concerns over undisciplined capacity growth and price competition. Following some recovery in the stocks, a Barron's cover story on June 20 predicated a potential 15%-50% upside in airlines and specifically cited high fares. PRICE ACTION: Shares of American Airlines (AAL), Delta Air Lines (DAL), Southwest (LUV), United Continental (UAL) and JetBlue (JBLU) are all down over 4.5% in afternoon trading and continue to drop.
13:57 EDTAALDOJ investigating whether airlines colluding on fares, AP reports
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June 30, 2015
17:51 EDTAALAir T unit awarded contract from American Airlines in excess of $32M
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17:48 EDTAALBombardier delivers first of seven CRJ900 aircraft to Mesa Airlines
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June 29, 2015
16:00 EDTAALOptions Update; June 29, 2015
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June 26, 2015
11:29 EDTAALStocks with call strike movement; AAL FXI
American Airlines (AAL) November 48 call option implied volatility increased 2% to 37, iShares Trust FTSE/Xinhua China 25 Fund (FXI) December 53 call option implied volatility increased 1% to 26 according to IVolatility.
June 25, 2015
16:00 EDTAALOptions Update; June 25, 2015
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June 23, 2015
10:00 EDTAALOn The Fly: Analyst Downgrade Summary
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09:36 EDTAALActive equity options trading on open
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07:11 EDTAALAmerican Airlines coverage assumed with an Equal Weight at Morgan Stanley
Morgan Stanley assumed coverage on American Airlines with an Equal Weight rating and $49 price target.
07:03 EDTAALAmerican Airlines downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley assumed coverage on American Airlines with an Equal Weight rating from an Overweight rating and lowered its price target to $49 from $62. The firm's analyst said American Airlines has one of the higher risk profiles vs. peers given its continued merger integration with US Airways, higher debt levels, underfunded pension obligations, and intensive capital fleet programs, and more fixed obligations.
June 22, 2015
11:43 EDTAALStocks with call strike movement; AAL UAL
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09:40 EDTAALActive equity options trading on open
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09:14 EDTAALOn The Fly: Pre-market Movers
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07:19 EDTAALAirlines focusing on upgraded in-flight web services, WSJ reports
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June 21, 2015
13:03 EDTAALU.S. airline stocks may rise 15%-50% in one year, Barron's says
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