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News Breaks
July 10, 2014
11:03 EDTUALUnited Continental bounces off $40, levels to watch
The $40 level has been an important support since the start of the year. Any dips below that level have been short-lived and have resulted in bounces with some room to run. At the current price of $42.74, next resistance is at $43.57. Support is at $41.56.
News For UAL From The Last 14 Days
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October 13, 2015
17:18 EDTUALJPMorgan CFO says headcount down 10,000 year-to-date
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11:09 EDTUALAirlines slip after downgrades weigh on Jetblue, Alaska Air
Shares of U.S.-based airlines were mostly lower in morning trading after analysts from JPMorgan and Evercore ISI released notes evaluating the state of the sector. In addition, JPMorgan downgraded JetBlue (JBLU) and Evercore cut its rating on American Airlines (AAL). AIRLINE INDUSTRY: JPMorgan analyst Jamie Baker said that the firm revised its 2016 forecasts for the U.S. airline space to reflect a second consecutive year of declining revenue per available seat mile, though margins seem to be stable with 2015's all-time record. Looking to 2017, the analyst said that he expects a "slightly less profitable" U.S. industry on higher fuel prices and some revenue recovery, but continued labor cost escalation. Baker added that the lack of industry revenue vigor continues to be the main hindrance to upside, despite more salient measures continuing to set records. The analyst said that his firm's "patience is running thin" and he believes investors mostly feel the same. Separately, Evercore ISI analyst Duane Pfennigwerth said that while airline margins are improving significantly year over year in the third quarter of fiscal 2015, higher assumed fuel prices in 2016 suggest "modest" margin compression for most U.S. airlines. He added, however, that Delta (DAL) should buck this trend and expand margins in 2016 given large hedge losses in 2015. Pfennigwerth said that stocks in the space have rallied so far in October on Q3 outlooks being slightly higher than cautious expectations as companies in the space have improved their guidance setting at the outset of the quarter. Stock seasonality is normally positive from this point until year-end, the analyst added. JETBLUE: JPMorgan's Baker downgraded JetBlue to Neutral from Overweight, citing the stock's proximity to his revised price target of $27. The analyst said that the carrier's shares don't give the same kind of previously envisioned upside potential to warrant a Buy rating. Baker added that his firm estimates ex-fuel cost per available seat mile to be pressured by increased labor expenses linked to the company's planned densification of its A320s. The analyst said that while he generally remains a "fan" of the economics of densification, the attendant pressure on JetBlue's RASM may begin a shift in investor sentiment as trends could migrate from sector leading to lagging. AMERICAN: Evercore's Pfennigwerth downgraded American Airlines' shares to Hold from Buy and lowered his price target to $50 from $55, saying he believes the company is commoditizing its brand. Pfennigwerth said that the airline is losing its hard earned pricing segmentation and expects to see an upward bias to net-adjusted debt in the future. The analyst added that the number one factor holding back new and incremental longer-term investors is the evidence of pricing discipline, since the company's blunt price competition with ultra-low cost carriers makes it more difficult to convince investors that the sector has fundamentally altered. Pfennigworth also said that American will face potential headwinds from higher fuel and lack of hedging in 2015. WHAT'S NOTABLE: Pfennigworth also downgraded Alaska Air (ALK) shares to Hold from Buy, citing valuation and limited upside to its $82 price target. The analyst added that the company's accelerating growth rate indicates that the company sees higher long-term value creation in competing down its own returns. The company's balance sheet and capital return remain very strong, the analyst said. PRICE ACTION: In morning trading, JetBlue fell 6.5% to $25.11, American Airlines was little changed at $43.87 and Alaska Air dipped 1.6% to $76.72. OTHERS TO WATCH: Delta Air Lines, which is scheduled to report Q3 earnings tomorrow morning, was up 1.1%, Southwest (LUV) fell 0.1% and United Continental (UAL) dropped 0.5%.
05:41 EDTUALUnited Continental Lines implied volatility of 39 at lower end of index range
October 12, 2015
17:27 EDTUALJustice Department pushes back against Gulf carrier allegations, Reuters says
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05:41 EDTUALUnited Continental Lines implied volatility of 39 at lower end of mean range
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October 11, 2015
19:28 EDTUALUnited weighs Bombardier, Embraer order in pilot negotiations, Bloomberg says
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October 9, 2015
16:32 EDTUALOn The Fly: Top stock stories for Friday
Stocks on Wall Street finished the session higher, with the Nasdaq, Dow and the S&P 500 finishing higher than Thursday's closing level. Despite the lackluster trading in the last day of the week, the averages enjoyed one of their best weekly performances of the year. Still, investors remain cautious on the upcoming earnings season, and that caution was not dispelled by the worse than expected report from Alcoa (AA) last night. Next week's earnings calendar is dominated by banking and insurance, but at the same time earnings will also be reported by high-fliers such as Netflix (NFLX) and old line tech such as Intel (INTC). ECONOMIC EVENTS: In the U.S., import prices slid 0.1% in September, while export prices declined 0.7%. Wholesale inventories edged up 0.1% in August, while sales fell 1.0%. COMPANY NEWS: Shares of Alcoa declined 76c, or 6.86%, to $10.26 after it unofficially kicked off the earnings season by reporting lower than expected revenue and profits... Shares of Tesla (TSLA) fell $6.04, or 2.67%, to $220.68 after Barclays analyst Brian Johnson downgraded the stock to Underweight, his firm's equivalent of a sell rating, saying it may be "challenged in the months ahead" with negative data points emerging. The analyst, who believes the "slow" Model X ramp supports his view that Tesla will "significantly miss" its 2015 delivery guidance, cut his price target for the electric car maker's shares to $180 from $190. MAJOR MOVERS: Among the notable gainers was SolarWinds (SWI), which gained $5.61, or 13.4% , to $47.49 after the company confirmed a Reuters report that it has commenced a review of its strategic alternatives. According to the news service, the company has already held talks with several private equity firms about a potential leveraged buyout. Also higher were shares of two major airlines, American Airlines (AAL) and United Continental (UAL), which rose 6.74% and 6.67% after reporting on their September traffic. American said its traffic rose 7.2% in September, while United reported that its traffic increased 1.4% last month. Among the noteworthy losers was Ruby Tuesday (RT), which fell 80c, or 12.12%, to $5.80 after the casual dining restaurant operator reported lower than quarterly sales and profits. Also lower was GAP (GPS), which sunk to a fresh 52-week low of $26.50 during the session after reporting last night that its comparable store sales were down 1% in September. Shares of the apparel retailer, which owns its namesake brand as well as Old Navy and Banana Republic, closed the day down $1.53, or 5.3%, at $27.42. INDEXES: The Dow rose 33.74, or 0.2%, to 17,084.49, the Nasdaq gained 19.68, or 0.4%, to 4,830.47, and the S&P 500 rose 1.46, or 0.07%, to 2,014.89.
05:58 EDTUALUnited Continental sees Q3 consolidated capacity up 2.1%
Sees Q3 consolidated PRASM down 5.5%-6%. Sees Q2 consolidated CASM excluding items down 1%-1.5%. Sees Q3 gross CapEx $695M-$715M. Sees Q3 pre-tax margin to be between 16%-17%.
October 8, 2015
17:11 EDTUALUnited reports September traffic up 1.4% YoY
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October 2, 2015
09:47 EDTUALUnited Airlines fails to reach pact with Teamster maintenance technicians
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October 1, 2015
15:40 EDTUALDirect scheduled U.S-Cuba commercial flights not likely this year, WSJ says
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06:44 EDTUALSouthwest defends Dallas Love Field gate purchase, AP reports
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06:14 EDTUALUnited Continental CEO says that 2010 merger was 'poorly managed,' WSJ reports
In his first interview as United Continental CEO, Oscar Munoz acknowledged that the 2010 merger that created the carrier was "poorly managed," The Wall Street Journal reports. He declined to discuss the probe that led to the ouster of former CEO Jeff Smisek, and noted that the morale of United employees has suffered. Reference Link
September 30, 2015
09:29 EDTUALBuckeye Partners announces FERC approval of settlement with airlines
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