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Stock Market & Financial Investment News

News Breaks
March 6, 2014
12:48 EDTCPA, AVHCopa sinks after Maduro cuts ties with Panama
Copa Holdings (CPA), the owner of Copa Airlines and Copa Colombia, is trading sharply lower after Venezuela’s President Nicolas Maduro last night announced he had severed diplomatic and trade relations with Panama. Copa Airlines operates from Panama and Copa Colombia provides service within Colombia and international flights from various cities in Colombia to Panama, Venezuela, and other South American countries. WHAT’S NEW: In televised remarks made last night, Maduro accused Panama of being a “lackey” for the U.S. in a conspiracy plot against Venezuela, according to media reports. Maduro said he was cutting off diplomatic and political ties with the Central American nation and freezing trade relations. Maduro’s statement comes after weeks of anti-government protests in Venezuela. In a statement, Panama’s government denied Maduro’s accusations. ANALYST REACTION: In a note to investors, analysts at Citigroup called Venezuela’s decision to sever ties with Panama a “stunning turn of events.” Citi said Venezuela’s actions go against the firm’s previous belief that the country was eager to maintain international commercial air service and this new political posture materially increases operating uncertainties for Copa. As a result, the firm downgraded shares of Copa to Neutral from Buy and cut its price target on the stock to $148 from $170. PRICE ACTION: Shares of Copa opened the session lower and promptly dropped further. In early afternoon trade shares are near their worst levels, down $11.32, or 8.4%, to $123.55. Prior to today’s drop, shares of Copa were down about 15% year-to-date. OTHERS TO WATCH: U.S.-listed shares of Avianca Holdings (AVH), the largest airline in Colombia, Venezuela’s western neighbor, are also lower following Maduro’s comments. Avianca fell about 4%, to $16.51 in early afternoon trade.
News For CPA;AVH From The Last 14 Days
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September 19, 2014
10:06 EDTCPAOn The Fly: Analyst Downgrade Summary
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06:49 EDTCPACopa Holdings downgraded to Underperform from Market Perform at Raymond James
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September 18, 2014
17:47 EDTAVHAvianca reports August passenger traffic up 5.4%
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September 15, 2014
09:16 EDTCPACopa Holdings reports August ASM up 8% to 1.79M, RPM up 9% to 1.39M
For the month of August, Copa Holdings' system-wide passenger traffic increased 9% year over year, while capacity increased 8%. As a result, system load factor for August 2014 was 77.9%, a 0.7 percentage point increase when compared to August 2013.

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