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Stock Market & Financial Investment News

News Breaks
March 6, 2014
12:48 EDTAVH, CPACopa 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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May 12, 2015
17:07 EDTCPACopa Holdings reports preliminary April traffic up 1.6%
For the month of April, Copa Holdings' system-wide passenger traffic increased 1.6% year over year, while capacity increased 7.0%. As a result, system load factor for April 2015 was 72.7%, a 3.9 percentage point decrease when compared to April 2014.
May 11, 2015
07:21 EDTAVHCitigroup to hold a conference
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May 8, 2015
10:01 EDTAVH, CPAOn The Fly: Analyst Downgrade Summary
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